Our team is ready to help you find the resources you need, and facilitate your access to financial aid through LIM, federal and state loans, and other sources.
Types of Aid
You’re investing in your education – so we invest in you. Last year, we gave out over $6 million in scholarships and grants.
Submit your completed admissions application by the priority deadline, and you will automatically be considered for LIM College Merit Scholarships for new students.
LIM College Scholarships and Grants: Non-Need-Based
|
AWARDS |
ELIGIBILITY FOR CONSIDERATION |
AMOUNT PER YEAR AND RESPONSIBILITY |
PROCEDURES |
|
Freshman Academic Achievement Scholarship |
High school students submitted academic credentials will be evaluated to determine eligibility. |
Awards of $1,500-$10,000 based on H.S. academic credentials. Renewable based on maintaining Satisfactory Academic Progress. |
Academic credentials are evaluated upon acceptance to LIM College. |
|
Adrian G. Marcuse Presidential Scholarship |
A student who entered the College as a first-year, first-semester freshman and is now entering his or her senior year beginning the fall semester. Based on merit and exceptional academic credentials (GPA of 3.50 or above). |
One full-tuition scholarship to a student entering her or his senior year. |
Final candidates will be interviewed by the President of the College. Application by invitation only. |
|
LIM College Sibling Tuition Award |
Siblings who are concurrently enrolled at LIM College or a student who has a sibling who previously attended LIM College and graduated. |
25% of tuition charges, not to exceed the full cost of tuition in conjunction with all other tuition-specific awards. This award is only available to matriculated undergraduate students enrolled either full-time or part-time and maintain Satisfactory Academic Progress. |
Complete the LIM College Sibling Award Application in the Office of Student Financial Services to establish eligibility by no later than the eighth week of the semester. |
|
LIM College Transfer Scholarships |
Incoming graduates of a two-year college with an associate degree. |
Awards ranging from $4,000 to $11,000 per year based on college GPA. Renewable based on maintaining Satisfactory Academic Progress. |
Transcripts are evaluated upon acceptance to LIM College. |
|
Maxwell F. Marcuse Founders Scholarship |
A student who entered the College as a first-year, first-semester freshman and is now entering his or her senior year beginning the fall semester. Based on merit and exceptional academic credentials (GPA of 3.50 or above). |
One half-tuition scholarship to a student entering her or his senior year. |
Final candidates will be interviewed by the President of the College. Applications by invitation only. |
|
Transfer Academic Achievement Scholarship |
Transfer students with at least 15 approved transfer credits. |
Awards of $3,000 - $10,000 based on college GPA. Renewable based on maintaining Satisfactory Academic Progress. |
Transcripts are evaluated upon acceptance to LIM College. |
LIM College Scholarship & Grants: Need-Based
|
AWARDS |
ELIGIBILITY FOR CONSIDERATION |
AMOUNT PER YEAR AND RESPONSIBILITY |
PROCEDURES |
|
LIM/Community College Scholarship |
Incoming community college graduates with an earned associate degree. Based on merit, exceptional academic credentials (minimum cumulative college GPA of 3.30 for consideration), and need. |
Highly competitive selection. Limited number of renewable awards of half tuition for eligible students. Renewable based on maintaining Satisfactory Academic Progress. |
A select group of students will be nominated by the office of Undergraduate Admissions for consideration. FAFSA required. |
|
LIM/FIDM Scholarships |
Incoming graduate of the Fashion Institute of Design and Merchandising (FIDM) with an associate degree. Based on merit, exceptional academic credentials (GPA of 3.30 or higher) and need. |
One renewable award of half tuition. Renewable based on maintaining Satisfactory Academic Progress. |
A select group of students will be nominated by the office of Undergraduate Admissions for consideration. FAFSA required. |
LIM Fashion Education Foundation Scholarships
Founded in 1977, the LIM Fashion Education Foundation (FEF) has, as its primary purpose, the provision of scholarship and grant aid to students who wish to attend LIM College. The FEF Scholarship Application requires a 400-500 word essay, submission of a FAFSA (for need-based scholarships only), two letters of recommendation and a submitted application sent to the Office of Financial Services.
- LIM FEF Scholarship Application Fall 2023 - Spring 2024
- The 2023-24 Application Deadline has passed
- LIM FEF Scholarship Recommendation Form
Fashion Educators Grant
College and university instructors who currently teach fashion-related courses and have professional experience in the fashion industry yet do not currently hold a graduate degree are invited to apply for an LIM College Fashion Educators Grant. Grant funds cover 50% of the cost of tuition for an LIM College master’s degree program (either on-campus or online) of the recipient’s choice. Learn more about Fashion Educators Grants or email graduateadmissions@limcollege.edu to speak with an admissions counselor.
LIM Grant-in-Aid
Students who submit a FAFSA (Free Application for Federal Student Aid) by the priority deadline are considered for need-based LIM College Grant-in-Aid awards up to $4,000 if they meet the appropriate eligibility criteria, pending funds availability.
Loans
Accepted matriculated undergraduate students enrolled at least half-time (6 credits per term) are eligible for Subsidized student loans, while those without financial need are eligible for Unsubsidized loans. The federal government pays the interest on subsidized loans while in school; and borrowers are responsible for interest payments under the unsubsidized loan program.
Undergraduate students can borrow Federal Direct loans up to $5,500 for their Freshman year based on need between Subsidized and Unsubsidized, up to $6,500 for their Sophomore year and up to $7,500 for Junior and Senior years. The total borrowing limit cannot exceed $31,000. Independent and dependent students whose parent(s) have been denied a PLUS (Parent) Loan are eligible for additional Unsubsidized Direct Loan funds of $4,000 to $5,000 (depending on the grade level) with a total borrowing limit not to exceed $57,500.
Pell Grants
Undergraduate students enrolled in at least three credits and demonstrate significant financial need according to the federal formula are eligible to receive monies under this federal program. Students should apply for the Pell Grant by using the FAFSA (Free Application for Federal Student Aid).
Supplemental Educational Opportunity Grant (SEOG)
Undergraduate students who demonstrate high financial need may be eligible to receive monies under this federal program. Awards at LIM College of $1,000 per year. Students must complete a FAFSA (Free Application for Federal Student Aid) to be eligible.
Work-Study Opportunities
Federal Work-Study involves part-time work opportunities on campus in various student services offices and in the community. You are considered automatically, on a first-come first-serve basis, for Federal Work-Study upon LIM College’s receipt of your processed FAFSA.
Our community service opportunity is with The New York City Public Service Corps/America Reads Program. The Public Service Corps is dedicated to providing students with opportunities to service their communities, build professional skills and learn about careers in the public sector. A Public Service Corp internship links meaningful community service experience with academic learning, personal growth and civic responsibility.
Financial need is required for Work-Study programs. Work-Study awards are up to $10,000 per year and student wages of $15 per hour. The award amount is based on the student’s financial need and the availability of funds to the campus.
Federal Direct Parent Loans For Undergraduate Students (Plus)
Parents of dependent students who are enrolled at least half-time (6 credits per term) at LIM College may be eligible for a Federal Direct Plus Loan. These loans are based on credit-worthiness. Parents may borrow up to the cost of education less all other financial aid. Parents should complete the PLUS application at studentloans.gov. Repayment of principal and interest begins within 60 days of receipt of the loan.
Parent PLUS loan borrowers have the option of beginning repayment 60 days after the loan is fully disbursed or delaying repayment (with interest accruing) for a period of time that includes up until six months after the student graduates or ceases to be enrolled at least half-time.
Federal Aid for Extenuating Circumstances
The Office of Student Financial Services is authorized to exercise professional judgment and discretion in reviewing extenuating financial circumstances that our students and parents may experience. Extenuating experiences include involuntary loss of employment, as well as incurring certain expenses such as: unreimbursed medical expenses, funeral expenses, private school tuition, child care costs, and adult dependent care (including nursing home costs).
Academic Eligibility Criteria for Federal Awards
Federal regulations require students to make Satisfactory Academic Progress (SAP) toward a degree in order to receive federal student aid. SAP is measured by qualitative (cumulative GPA) as well as quantitative (earned credits) standards as indicate on the chart below that stipulates those minimum academic requirements that must be met based on total credits attempted* and within a maximum time frame that is no longer than 150% of the published program length.
To assess continued Federal (Title IV) financial aid eligibility, students’ records are reviewed annually after the spring semester. Students who fail to make SAP are placed on Academic Probation and will lose their eligibility for federal student aid (until back in good standing) unless they submit a successful appeal (waiver) request to receive financial aid while on probation with an approved academic plan (see SAP Policy below).
*Total Credits Attempted includes:
- credits attempted at LIM College (includes all completed courses with an earned Letter Grade or Pass/Fail grade)
- courses with an earned “FA” (Failure for Lack of Attendance) grade
- withdrawn (“W”) courses
- accepted transfer credits listed on LIM College transcript
A student placed on Academic Probation must satisfy the terms of their academic probation plan to avoid Academic Dismissal from the College. In the event a student is academically dismissed from the College, they may petition in writing to the Associate Dean of Academic Affairs to return for a semester on Conditional Academic Probation - which is normally without to the benefit of Federal (Title IV) financial aid eligibility, while working to return to good standing and make SAP.
Satisfactory Academic Progress (SAP) Policy
The Satisfactory Academic Progress (SAP) policy is jointly administered by the Offices of Academic Affairs and Student Financial Services to coordinate the communication to students regarding SAP status and appeal provisions for the purpose of Federal Title IV aid eligibility (and New York State Aid Programs, where applicable). The Office of Student Financial Services reviews SAP annually after spring semester grades are finalized in conjunction with the Office of Academic Affairs.
Students are notified by the Office of Academic Affairs if they are not meeting SAP requirements. Students will then be advised of their right to submit a written appeal to request a waiver of SAP requirements while on Academic Probation. The student’s appeal will be reviewed by the Offices of Academic Affairs and Student Financial Services and the decision will be communicated in writing. If approved, students will be offered an Academic Plan(s) to return to good standing by the Office of Academic Affairs. Upon accepting the terms and conditions of their Academic Plan, a student will have access to Federal (Title IV) financial aid eligibility under that plan. Students are advised to meet with a staff member in the Office of Student Financial Services to discuss SAP’s impact on continued financial aid eligibility.
Extenuating Circumstances
The Office of Student Financial Services is authorized to exercise professional judgment and discretion in reviewing extenuating financial circumstances that students and parents may experience. These circumstances may include involuntary loss of employment, as well as incurring certain expenses such as unreimbursed medical expenses, funeral expenses, private school tuition, child care costs, and adult dependent care (including nursing home costs). Please contact the Office of Student Financial Services to discuss your circumstances and to determine the appropriate documentation procedures.
In the event that the parent(s) of a dependent student has ended financial support and refuses to file a FAFSA form, the Office of Student Financial Services may offer such students federal financial aid in the form of an Unsubsidized Stafford Loan only, based on current grade level. Verification must be obtained in the form of signed and dated documentation from a parent attesting to such circumstances.
New York State's Tuition Assistance Program (TAP)
Complete the NYS TAP application at www.hesc.ny.gov. Awards range from $500 to $5,665 annually.
Students will have the opportunity to complete the Express TAP Application (ETA) online as well. The LIM College TAP code is 2178. Check the status of your ETA online at the HESC website and get info on other NY State-sponsored scholarships and grants.
Enhanced Tuition Awards (ETA)
The Enhanced Tuition Awards (ETA) program provides tuition funds to New York State residents attending a private college in New York State.
Eligibility requirements include:
- Total family adjusted gross income of $125,000 or less
- Be enrolled full-time (at least 12 credits per semester) and complete 30 credits each academic year
- Live and work in New York State after graduation for the same number of years you receive an ETA
Other Federal & State Aid
For a listing of additional New York State-sponsored scholarships and grants, visit the HESC Reference site.
Several other states sponsor awards that can be used to attend a college outside a home state, visit FinAid and click on the link for U.S. State Government aid to find your state agency.
Outside Scholarships
As a student, you should actively look for and apply to outside organizations for additional scholarship assistance. The Office of Student Financial Services (212-752-1530 ext. 389 / sfs@limcollege.edu) can provide individual assistance and guidance during your scholarship search. Additionally, the LIM College Writing Center, can assist in reviewing your scholarship essay(s) and in providing valuable feedback to strengthen your writing submission(s).
Below are reputable and free online scholarship search services that we encourage you to use as resources to help find scholarships:
- Fastweb Scholarship Search
- Scholarship Experts
- College Board's Fund Finder
- SRN Express
- Princeton Review
- Find Tuition from CareerBuilder.com
- International Student & Study Abroad scholarships
- Scholarship Central (includes international scholarships)
- Ronald McDonald House Charities/HACER Scholarships
- Fashion-Schools.org High School Student Scholarship
- Fashion-Schools.org College Student Scholarship
- New York Women in Communication Scholarship
Private Alternative Loans
Private alternative loans may be an option if you need to borrow additional funds after exhausting your federal loans, or you are not eligible for federal aid. These loans are credit-based and typically require that you apply with a credit-worthy co-signer for approval.
In accordance with New York State and Federal recommendations, we will not certify a private loan unless you have first applied for and accepted your eligible federal Stafford Loan(s).
Private loans accrue interest while you are in school and typically represent the most expensive form of college financing.
As such, we strongly encourage students and parents to consult with the Office of Student Financial Services prior to applying for an alternative education loan, to ensure that you have explored all other financing and payment options first.
Before applying for an alternative loan, here are some questions you should ask yourself when comparing lenders:
- What is the interest rate or what is the expected range of interest rates
- How often is interest on my loan calculated?
- How and when does my interest rate change?
- Are there any loan fees, and if so, are they added or subtracted from the loan amount?
- Is a cosigner required and how does that affect the interest rate?
- Can the cosigner be released from the loan and what is required to qualify?
- What are the penalties for missing a payment?
- What deferment or forbearance options are available?
- What borrower benefits/discounts are available and what is required to qualify?
- Can my loan be sold to another company, and if so, will the borrower benefits transfer?
- What are the minimum monthly payments?
- When does repayment begin?
- Can the loan be consolidated with other loans?
- How long is the repayment period and are there any early payment penalties?
- What is the total amount that you will have to repay over the life of the loan and what will the monthly payments be?
- How long do I have to repay the loan?
LIM College encourages students to compare lenders and to also use mainstream internet resources to search for and review lenders. The Office of Student Financial Services will certify a loan through any lender if you meet that lender’s eligibility criteria. The maximum loan amount is the cost of attendance minus any other financial aid.
LIM College is approved by the U.S. Department of Education to award Federal Direct Stafford loan funds at the graduate level. To determine your eligibility, please complete the FAFSA (Free Application for Federal Student Aid) online as soon as possible. LIM College’s federal school code is 007466. Accepted matriculated graduate students enrolled at least half-time (6 credits per term) are eligible for loans under this program. Graduate students can borrow Federal loans up to $20,000 per year. Graduate students who need to borrow more than the maximum Unsubsidized loan amounts to meet education costs that are not covered by other financial aid may apply for the Graduate PLUS loan.
LIM Graduate Excellence Award
Awards of $1,500-$4,500 per year are conferred and students must maintain a GPA of 3.0 or higher. A student must enroll in a minimum of six credits for up to three semesters. Based on availability. Incoming graduate students with a minimum GPA of 3.5 will be evaluated on a first come, first served basis. Please note that additional application materials will be considered prior to awarding the scholarship. Academic criteria are evaluated during the admissions application review process.
