Financial Aid Process

Upcoming Deadlines

APRIL 24th, 2024  

Students must accept all or a portion of any financial aid awards initially offered, or decline the award(s) via the Access Illinois Tech student portal no later than this date or your federal loan offer(s) will be canceled.  Students must also submit all necessary documentation and have your Financial Aid file complete no later than this date in order to complete the processing of any federal financial aid. 

JUNE 30th, 2024     

Students may still complete the 2023-2024 Free Application for Federal Student Aid until this date. Please visit our Apply for Financial Aid ~ FAFSA webpage for information.                    

Access Illinois Tech

Your Access Illinois Tech account serves as your gateway to university applications and resources such as your Financial Aid Dashboard. Log into Access Illinois Tech at access.iit.edu. When you log in for the first time, you will be prompted to set a new password, set up account recovery options, and configure multifactor authentication (MFA) for security.  Please set up a minimum of two MFA methods that will allow you to access your email and applications. 

If you need assistance logging on to Access Illinois Tech, contact the Chicago-Kent Information Technology Services (ITS) Help Desk online or by calling 312.906.5300.

Admitted Students Weekend

If you missed the financial aid presentation at Admitted Students Weekend held on Saturday, April 6th, you may view the presentation below:

Steps Involved in the Financial Aid Process:


FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) - In order to be considered for federal financial aid, you must complete the FAFSA.  Please view our FAFSA webpage for specific information and resources.

STUDENT AID REPORT (SAR) - After completing the FAFSA, you will receive a Student Aid Report (SAR) via email or mail. Review your SAR and any comments noted by the Department of Education. Make any necessary corrections with the Department of Education and make sure that the Chicago-Kent College of Law FAFSA school code of E00773 is on your SAR. If it is not, the Office of Financial Aid will not receive your FAFSA information.

FINANCIAL AID AWARD NOTIFICATION - Admitted students will start receiving their financial aid award notification by email in March. **Please note: In order to be considered for federal financial aid, you must be enrolled at least half-time (six credit hours for the fall and spring semesters and three credit hours for the summer term) in courses that are applicable to your degree.

AWARD REVIEW AND ACCEPTANCE - Log in to your access.iit.edu and select the myIIT portal icon. Click on your Financial Aid Dashboard to accept the full or partial amount of the awards offered to you. If you are borrowing federal student loans, it is to your advantage to accept the Federal Unsubsidized Loan prior to accepting the Federal Graduate PLUS Loan.

REQUIRED DOCUMENTS- Complete a Loan Agreement (Master Promissory Note) online for each Federal Direct Loan type you accept, and a required Loan Entrance Counseling session must also have been completed on the Department of Education’s website at studentloans.gov. Please be sure to choose the Illinois Institute of Technology - Downtown Center so we receive your information in a timely manner.

Please regularly check the Financial Aid Dashboard of your Access Illinois Tech Portal for other required documentation that will be listed under "Unsatisfied Requirements". 

FINANCIAL AID DISBURSEMENT  - Financial Aid (scholarships and federal student loans) is disbursed in equal installments directly to your student account before the start of each semester only if all requirements are complete.

Please note that tuition is charged at the beginning of each semester. Your total tuition costs are based on your tuition rate per credit hour multiplied by the number of credit hours in which you are enrolled. Please plan accordingly, especially if you are enrolling in additional credits for a give semester (i.e., 16 credit hours for Fall and 15 credit hours for Spring).  Please also be aware of mandatory fees that are also billed to your student account.

Disbursements are different from Refunds. The refund process is separate and managed by the Student Accounting Office.

Refunds - If you have a credit balance after all financial aid is applied to your student account and your billable expenses (tuition and fees) are paid, the Student Accounting Office will process a refund.* Please allow at least 10 business days for a refund to be processed. For specific questions related to your refund, to discuss charges on your student account, or for information on setting up direct deposit or payment plans, please contact the Student Accounting Office at sa@iit.edu or at 312.567.3794.*

* To obtain an estimate of what your semester refund may be, please complete an Estimated Refund Calculation Sheet for each semester.

*Please visit our Tuition and Fees webpage for your tuition rate per credit hour and mandatory college fees.  Please see our Estimated Cost of Attendance webpage for a breakdown of tuition, fees and cost of living expenses.


2023-2024 Federal Direct Loan Interest Rates:

For Direct Loans First Disbursed on or After July 1, 2023, and Before July 1, 2024

Loan TypeBorrower TypeFixed Interest Rate
Direct Unsubsidized LoansGraduate/Professional7.05%
Direct PLUS LoansGraduate/Professional8.05%

2023-2024 Federal Direct Loan Origination Fees:  

For Direct Loans First Disbursed on or After October 1, 2022, and Before October 1, 2024

Loan TypeBorrower TypeOrigination Fee %
Direct Unsubsidized LoansGraduate/Professional1.057%
Direct PLUS LoansGraduate/Professional4.228%

**An origination fee is a percentage of your loan amount charged by the lender for the processing of your loan. Federal student loans have an origination fee; therefore, the amount you may receive as a disbursement may be slightly lower than the amount you accept.