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CORONAVIRUS (COVID-19): Classes and employee work have been moved to online and remote environments.   Read more details at fitnyc.edu/coronavirus

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CARES Act Fund

The Fashion Institute of Technology acknowledges an authorized representative of the institution has signed and returned to the Department the Certification and Agreement and the institution has used, or intends to use, no less than 50 percent of the funds received under Section 18004(a)(1) of the Coronavirus Aid, Relief, and Economic Security (CARES) Act to provide Emergency Financial Aid Grants to students.

The Fashion Institute of Technology has received $3,517,700.00 student aid from the Department of Education pursuant to the Certification and Agreement [for] Emergency Financial Aid Grants to Students.

The Fashion Institute of Technology has distributed $3,517,450.00 to students under Section 18004(a)(1) of the CARES Act as of June 16, 2020. The Fashion Institute of Technology has determined 2,375 students at the institution are eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 and thus eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act.

2,375 students have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act as of June 16, 2020.

The Fashion Institute of Technology has prioritized awarding of Emergency Financial Aid Grants to its students in the following manner (methodology):

Eligible Undergraduate Students*: 2,353     

  • With Pell Eligible Estimated Family Contribution (EFC) <$5,577:  1,994 students
  • Without Pell Eligible Estimated Family Contribution (EFC) $5,578 to $10,000: 359 students

Eligible Graduate Students*: 22

  • With Pell Eligible Estimated Family Contribution (EFC) <$5,577: 18 students
  • Without Pell Eligible EFC $5,578 to $10,000: 4 students

* Eligible is defined by the plan as: Verified, No C flags, Meeting Satisfactory Academic Progress (SAP), Valid Estimated Family Contribution (EFC), and Meets HEA Section 484

Under Section 18004(a)(1) of the CARES Act, students received awards ranging from $1,325 to $1,500.

The Fashion Institute of Technology created a methodology for the distribution of the CARES Act funds based on federal guidelines. The college’s goal was to provide a CARES Act Grant to our neediest degree-seeking undergraduate and graduate students based on their Estimated Family Contribution (EFC) from the calculation of the Free Application for Federal Student Aid (FAFSA). Eligible candidates were notified of their CARES Act Grant by the Financial Aid Services Office. If funds remain in the account after the initial distribution to the 2,375 eligible students, additional grants will automatically be considered and awarded. Appeals for a CARES Act Grant cannot be considered.

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