About Financial Aid

The JTS Financial Aid Office is committed to making it possible for all students to realize their educational goals. We encourage students to apply for financial aid, and no student should hesitate to apply for admission due to financial concerns. The Financial Aid Office makes every effort to assist families in utilizing all resources that are available.

How Do I Apply for Financial Aid?

Contact the JTS Financial Aid Office

The JTS Financial Aid Office is located in Brush 520. Staff members are available for walk-in service Monday through Thursday, 10:00 a.m. to 4:30 p.m. Staff members are available at other times by appointment.

To schedule an appointment or to contact our office, email financialaid@jtsa.edu or call (212) 678-8007. To send a fax, please dial (917) 493-4112.

Additional Financial Aid Information and Resources

What Is Financial Aid?

Financial aid is funding that JTS makes available to help students pay for their education. Each family represents a different set of financial circumstances that impact upon that family’s ability to pay for college. Financial aid from JTS, private, state, and federal sources provides the help needed to meet the cost of higher education. There are two forms of financial aid:

Need-based financial aid is determined by your family’s demonstrated financial need. JTS need-based aid is awarded through the JTS Financial Aid Office and includes both institutional grants and federal loans.

Merit-based financial aid is determined by your academic achievement. JTS merit-based scholarships and fellowships are awarded by each school’s dean’s office in conjunction with its fellowship committee.

Federal Programs

To be eligible for aid under any one of these programs, students/degree candidates must be enrolled at least half-time in an eligible program and must meet one of the following citizenship requirements:

  • US citizen
  • US national
  • US permanent resident who has an I-151 or I-551 (Alien Registration Receipt Card); permanent resident of the Trust Territory of the Pacific Islands, Commonwealth of Northern Mariana Islands; or has one of the following documents from the US Immigration and Naturalization Service:
    • I-94 (Arrival Departure Record) with one of the following endorsements:
      • adjustment applicant
      • refugee
      • conditional entrant
      • indefinite parole
      • other proof from the US Immigration and Naturalization Service that one is in the United States for other than a temporary purpose

Other Requirements

Persons in the United States on an F1 or F2 student visa or a J1 or J2 exchange visitor visa are not eligible for federal student aid.

Students cannot be in default on prior federal loans or owe a repayment on any federal grant program.

Students must register with the Selective Service Administration and, if required, sign a statement attesting to such registration and their intent to use the funds only for expenses related to their education.


JTS participates in the Federal Direct Loan Program and works with the US Department of Education to process these loans. Detailed information regarding this program can be found on the US Department of Education’s website. Federal Direct Loans are available to students who are enrolled at least half-time and are US citizens or permanent residents.


JTS participates in the Federal Pell Grant Program and works with the US Department of Education to process these grants. Detailed information regarding this program can be found on the US Department of Education’s website. Federal Pell Grants are available to enrolled undergraduate students who are US citizens or permanent residents.

Please contact the JTS Financial Aid Office for more detailed information.

Satisfactory Academic Progress

Federal regulations require institutions of higher education that administer Title IV student aid programs to establish, publish, and regularly apply standards of Satisfactory Academic Progress (SAP) for Federal Student Aid (Title IV) eligibility. The purpose of measuring and enforcing SAP standards is to ensure that students who are being supported by Federal Student Aid funds are progressing toward academic program completion in accordance with the institutions’ academic standards with respect to qualitative performance (e.g., GPA) and at a required pace, within a maximum timeframe.

While federal regulations prescribe the framework and minimum standards for SAP, each institution must define and implement its own SAP requirements at the level of each program or school. JTS complies with federal SAP regulations and requires that each of its schools define and implement compliant SAP standards for their academic programs. To be eligible for Federal Student Aid (Federal Pell Grant, Federal Direct/PLUS loan), an otherwise eligible student must meet the SAP standards set by his or her school or program at the time SAP is reviewed.

Students’ academic progress is reviewed every semester by the deans of their respective schools, in accordance with the academic standards defined in the JTS Academic Bulletin, to evaluate their compliance with its SAP policy and to ensure that only students meeting SAP requirements continue to receive Federal Student Aid. Students who are not meeting their program’s SAP standards will be notified by the school as to any implications with respect to Federal Student Aid eligibility.

The deans will coordinate with the Financial Aid Office to implement SAP assessments and to adjust students’ Federal Student Aid eligibility based on the outcome of these assessments. The JTS Financial Aid Office will work with each school to implement controls of Federal Student Aid disbursements in compliance with federal regulations. For the purposes of federal financial aid, students may not receive assistance for more than one semester while on Academic Probation.  Please see the Academic Bulletin for each school’s academic standards and academic probation policies.

Student Responsibilities


  • Enrollment Provisions: The student must be enrolled at JTS, taking a minimum of six or the equivalent credits per semester and completing a degree.
  • Educational Expenses: To receive aid, a student must sign a statement of Educational Purpose/Selective Service Compliance.
  • Change of Address/Name: The student must notify the Financial Aid Office of any name or address change that occurs during the enrollment period and, for loan recipients, during the repayment period. Students must also notify the Financial Aid Office about any changes in marital status.
  • Courses and Curriculum: The student must notify the Financial Aid Office of changes in courses and curriculum that occur during the enrollment period.
  • Resource Change: If resources change during a student’s attendance or subsequent to the submission of financial aid applications, the student must notify the Financial Aid Office of the change. Increases as well as decreases in resources must be reported.
  • Loan Repayment: Accepting a loan also means accepting the responsibility of repaying that loan. Loan repayment is a legal obligation. A student who has taken out a loan must have an exit interview before he/she withdraws, transfers, or graduates. First-time borrowers must also have entrance interviews.


  • Accurately complete the application for student financial aid. Errors can result in long delays in processing applications and receipt of financial aid. Intentional misreporting of information on application forms for federal financial aid is a violation of law and is considered a criminal offense subject to penalties under the US Criminal Code.
  • Return all additional documentation, verification, corrections, and/or new information requested by either the Office of Student Financial Aid or the agency to which the application was made.
  • Read, understand, and keep copies of all forms.
  • Accept responsibility for all signed agreements.

Students’ Rights


  • Know what financial assistance is available, including information on all federal, state, and institutional financial aid programs.
  • Know the deadlines for submitting applications for each of the financial aid programs available.
  • Know the cost of attending JTS and the school’s refund policy.
  • Know the criteria used by JTS to select financial aid recipients.
  • Know how JTS determines financial need. This process includes how costs for tuition and fees; allowances for room and board, travel, books and supplies, and miscellaneous expenses, etc., are considered in a budget.
  • Know what resources (such as parental contribution, other financial aid, personal assets, etc.) are considered in the calculation of need.
  • Know how much financial need, as determined by JTS, has been met.
  • Know what portion of the financial aid received must be repaid and what portion is grant aid. If the aid is a loan, students have the right to know what the interest rate is, the total amount that must be repaid, repayment procedures, the length of time to repay the loan, and when repayment is to begin.


  • Receive a loan check made payable to both student and school and requiring both endorsements.
  • Know that if the lender transfers or sells the loan and the right to receive payments, students must be sent notification explaining to whom payments must be made.
  • Know that lenders must provide a copy of the completed promissory note.
  • Know that for subsidized loans, there is a six-month grace period before repayment begins after leaving school or attending school less than half-time. The exact length of this period is indicated on the promissory note.
  • Prepay the loan without penalty. This means that at any time, the loan balance and any interest due may be paid without the student’s being charged a penalty by the lender for early payment in full.
  • Defer repayment of the loan under certain circumstances. Under deferment, one is not required to make payments on the loan principal. If the loan was federally subsidized, no interest payments will be due during the deferment period. The conditions under which one may qualify for a deferment are listed on the promissory note.
  • Know that if one cannot meet the repayment schedule, one may request forbearance from the lender, under which the payments may be reduced for a specified period of time, if it will assist in avoiding default.
  • Know that the loan obligation will be canceled in the event of death or permanent and total disability. This loan cannot be canceled or forgiven for duty in the military service or for any teaching service.
  • Know that in borrowing money under any student loan program, one assumes the responsibility for repaying the loan. If circumstances arise that make it difficult to meet this responsibility, contact the lender.

Return of Title IV Funds

In accordance with federal regulations, when a student withdraws from JTS, JTS must return Title IV funds as specified below.  This policy applies to students who complete 60% or less of the enrollment period (i.e., fall, spring, or summer session) for which they received Federal Title IV aid.  At JTS, the term “Title IV aid” refers to the following federal financial aid programs:  Unsubsidized Federal Direct Loans, Subsidized Federal Direct Loans, Federal Direct PLUS Loans, and Federal Pell Grants.

The application of the Return of Title IV Funds policy may result in funds being due to JTS.  Students will be responsible for any outstanding balance due to JTS.  Students may view their JTS bill by logging in to MyJTS (my.jtsa.edu/ics) or by contacting the JTS bursar’s office.  Please also familiarize yourself with the related JTS Tuition Refund Policy

The required refund calculation is based on the percentage of the enrollment period completed by the student as determined by a student’s withdrawal date.  The withdrawal date is defined as:

  1. The date the student began the withdrawal process or officially notified JTS of his/her intent to withdraw; or
  2. The last date of attendance at an academically related activity by a student who doesn’t notify JTS.  

JTS Withdrawal Policy and Procedures

A matriculating student is required to register and attend each semester until degree completion, except when on an approved leave of absence. (For more information on JTS’ Leave of Absence policy, please see the Academic Bulletin.)


Any matriculating student intending to withdraw from a school of JTS must submit written notification to the Dean of the student’s school. The Dean will then complete the required form confirming the student’s withdrawal and submit it to the registrar’s office, which will formally record the withdrawal in the student’s record.‎


For cases in which a matriculating student simply stops attending classes but does not inform the Dean of his/her intent to withdraw, JTS procedure is the following:‎ Once the student is identified as not attending classes, the Registrar will confirm with the student’s Dean that the student has not been attending, and the Dean will contact the student to determine if his/her intent Is to remain in the school or to withdraw. If, after several attempts, the Dean is unable to contact the student, the student is considered an unofficial withdrawal. The Deans’ Office will send confirmation of the withdrawal to the student and will notify the Registrar, who will formally record the withdrawal in the student’s record, using the last known date of attendance as the withdrawal date.

Mandated formula for return of Title IV funds

If a student who has received Title IV funds withdraws from or leaves JTS prior to completing 60% of a semester, JTS will recalculate the amount of such Title IV funds the student has earned or is entitled to retain.  This calculation is based on the percent of earned aid using the following Federal Return of Title IV funds formula: 

% of aid earned = # of days completed/total # of days in the semester

*Days completed is defined as the first day of semester through withdrawal date. Any break of five days or more is not counted as part of the days in the semester.

Funds are returned to the appropriate federal program based on the percent of unearned aid using the following formula:

aid to be returned = (100% – % of aid earned) X amount of aid disbursed towards institutional charges

Title IV funds must be credited to outstanding balances for the period of enrollment for which a return of funds is required in the following order, which is specified by regulation and is not subject to change by the school or a student.

  • Unsubsidized Federal Direct Loans
  • Subsidized Federal Direct Loans 
  • Federal Direct PLUS Loans
  • Federal Pell Grants

Please don’t hesitate to contact the JTS bursar’s office at bursar@jtsa.edu or (212) 678-8829 if you need any additional information about refunds.