Financial Aid Options

Financing Your Education at Pratt

Choosing a college should be based on the quality and reputation of the program rather than on finances. We understand, however, that many families face financial concerns when choosing a highly regarded college such as Pratt Institute, and we are committed to providing sufficient financial assistance to make the cost more affordable. This commitment is directly reflected by the large amount of institutional gift money awarded each year.

Pratt offers various types of financial assistance from need and merit-based aid including tuition scholarships and grants to loans, student employment, and tuition management programs.  By combining federal, state and institutional funds we make every effort to assist you in meeting the increasing cost of a college education.  Our financial aid process is simple and straight forward.  The FAFSA is required for all students.The Pratt Summer Financial Aid Application is required for those who wish to attend summer classes and/ or study abroad.

As part of your financial aid package, you are eligible to borrow Federal Direct student and/or parent loans.  All of the steps outlined below must be completed in order for Pratt to receive your loan funds and apply them to your student account. 

Steps to complete your Federal Direct Loan Application:

Step 1 - (New Borrowers) Complete Loan Entrance Counseling. This step should take between 15 and 30 minutes.  Please visit https://studentloans.gov/myDirectLoan/index.action in order to complete this step. You will need some personal information including your name, social security number, date of birth and your Federal PIN number (this is the same PIN that you used when you electronically signed your FAFSA. If you do not have your PIN number, you can request it by visiting, http://www.pin.ed.gov/PINWebApp/pinindex.jsp

Step 2 - (New Borrowers) Complete a Direct Loan Master Promissory Note. In order to complete this step, you must also have the PIN number referred to in the above step. If you do not have your PIN number, please follow the instructions above in order to receive one. If you are borrowing a Federal Direct Stafford Loan (subsidized and/or unsubsidized), please complete the Federal Direct Stafford Loan Promissory Note.

If you are borrowing from the Federal Direct Grad PLUS program, you must also complete a Federal Direct Grad PLUS/PLUS Master Promissory Note.  *Please review your financial aid package for the type(s) of loan(s) you are applying for.

Step 3 *For Grad PLUS/PLUS Borrowers ONLY* If you are applying for a Grad PLUS or your parent is applying for a PLUS loan, applicants are required to complete a credit check every time you borrow online at https://studentloans.gov/myDirectLoan/index.action.  PLUS and Grad PLUS loans will not be processed without credit approval.  Please be sure to accurately input your information (name, address, SS#, date of birth, etc.) exactly as you did on your promissory note or the credit check and promissory note will not match which can cause lengthy delays in the processing of your loan and the receipt of funds.

Step 4 (ALL BORROWERS) Complete and return the Loan Confirmation Form via fax or mail. You can print the Loan Confirmation Form from the Pratt Institute website: http://www.pratt.edu/uploads/LOAN_CONFIRMATION_FORM_2011_12.pdf and mail or fax it back to our office. Instructions are on the form.

International Students

International students seeking funding options for private loans may examine the following link for assistance:
Undergraduate Student Loans
Graduate Student Loans