Financial Aid

Don’t Let Finances Hold You Back From Pursuing a New Career. We’re Here to Help You.

There’s no doubt about it, finances are a concern for most people when they consider pursuing post-secondary education. But don’t let that hold you back from pursuing career training – an investment that will last a lifetime! NYIM cares deeply about our students, which is why we will work with you one on one to find out a solution that will fit you and your financial situation.

Discover Your Financial Assistance Options

Any student interested in applying for federal financial assistance must complete the Free Application for Federal Student Aid (FAFSA). The school may provide the student with information and estimates on federal, state, or other financial aid the student may apply and qualify for. However, it is the federal, state, and other authorities, and not the schools, that determine the student’s eligibility and amounts of financial aid the student is entitled to receive. Please contact the financial aid office for further information. In order to meet the general requirements for eligibility, the student must:

• Be enrolled/accepted in a program leading to a degree or diploma
• Be enrolled at least half-time – Be a U.S. citizen or eligible non-citizen
• Maintain good academic standing
• Not be in default on any federally insured student loan (such as Stafford, Perkins), at any college
• Not owe a repayment of any federal or state grant at any college
• Register with the Selective Service (if required)
• Provide evidence of financial need
• Sign a statement of Educational Purpose

Federal Pell Grant Program

A Federal Pell Grant does not need to be repaid. Current 2020/2021 year awards range from $672.00 to $6,495.00. The amount the student receives is based on the student’s family’s financial situation, enrollment status, and how much of the student’s remaining education at the school falls within the current federal award year (July 1 through June 30). In general, a student does not qualify for a Federal Pell Grant if they have already earned a bachelor’s degree.

Federal PLUS Loan Program

The Federal PLUS Loan is a loan that a parent can borrow for their dependent undergraduate student.  This loan is limited to parents with favorable credit history and enables the parent to borrow up to the cost of the student’s education less any other aid received by the student.  Repayment of the loan begins after it is fully disbursed to the school.  Parents currently have an interest rate of 8.05%, with a loan fee of 4.228%.

Federal Subsidized Stafford Loan Program

This loan program is available to eligible students enrolled at least halftime and are based on the financial need demonstrated by each student.  The student may borrow up to $3,500 for the first academic year.  The loan amounts will be prorated for academic years less than nine months. Repayment of the loan begins six months after graduation or termination of studies, and the monthly payment amount is based on the amount borrowed, but not less than $50.  Certain circumstances may allow the borrower to contact the lender and have the loan deferred, such as while in school at least at half-time, inability to find full-time employment, or suffering economic hardship. The interest rate for subsidized loans is currently fixed at 5.50%. Most federal loans will have a fee. This fee is a percentage of the loan. This means the amount you are borrowing will be less. The origination fee for loans disbursed is 1.057%.

Federal Unsubsidized Stafford Loan Program

This loan program is available to eligible students enrolled at least halftime and who do not demonstrate financial need.  The loan was created so that the student, regardless of income, could obtain a Federal Stafford Loan.  Unlike Subsidized Loan, interest will accrue while the student is attending school and after graduation. Keep in mind, the interest will continue to accrue even if a student needs to withdraw from the program. A dependent student may borrow up to $2,000. An independent student can borrow up to $6,000. The loan amounts will be pro-rated for academic years less than nine months.  Repayment of the loan begins six months after graduation or termination of studies, and the minimum monthly payment amount is based on the amount borrowed, but not less than $50.  Like Subsidized Loans, deferment options are available. The interest rate is currently fixed at the rate of 5.50%. The loan fee is 1.057%.

Additional Tuition Assistance

Tuition assistance is often available from employers, and other civic/social organizations, and entitlement programs such as ACCES-VR, WIA, TRA, and Americorp. Payment plans are available for students who qualify. In House Financing For NYIM in house financing consideration, you must complete a financial questionnaire and return it to Financial Aid.  A $15.00 fee plus applicable sales tax is charged to obtain a current copy of your credit report.    Payment plans are available for students who qualify.  Please contact the Financial Aid office for more information.

Veterans Benefits

NYIM is approved for the training of veterans, and other eligible persons by the NYS Division of Veterans Affairs.  If the prospective student is a veteran, active National Guard or Reservist, or is the spouse or child of a deceased or 100% disabled veteran, they may qualify for benefits.  Please contact the Financial Aid Office at NYIM to review your situation. In accordance with Title 38 US Code 3679 subsection (e), this school adopts the following additional provisions for any students using U.S. Department of Veterans Affairs (VA) Post 9/11 G.I. Bill^® (Ch. 33) or Vocational Rehabilitation and Employment (Ch. 31) benefits, while payment to the institution is pending from the VA.  This school will not:

• Prevent nor delay the student’s enrollment;
• Assess a late penalty fee to the student;
• Require the student to secure alternative or additional funding;
• Deny the student access to any resources available to other students who have satisfied their tuition and fee bills to the institution, including but not limited to access to classes, libraries, or other institutional facilities.

However, to qualify for this provision, such students may be required to:

• Produce the Certificate of Eligibility by the first day of class;
• Provide written request to be certified;
• Provide transcripts from all previous college attendance and military training;
• Provide additional information needed to properly certify the enrollment as described in other institutional policies.

GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by the VA is available at the official U.S. government website at http://www.benefits.va.gov/gibill  

Net Price Calculator

This calculator is intended to provide estimated net price information (defined as estimated cost of attendance — including tuition and required fees, books and supplies, room and board (meals), and other related expenses — minus estimated grant and scholarship aid) to current and prospective students and their families based on what similar students paid in a previous year.

Massage Training is Attainable — Discover Your Options Today

If you’re interested in learning more about financial aid and exploring whether NYIM is right for you, fill out the form on this page to receive more information.

For immediate questions, call 716-633-0355

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Additional Financial Aid Stats via Univstat

Refund Policies

Should the student cancel enrollment or be dismissed by NYIM for any reason, all refunds will be made in accordance with the following:

Cancellation Policy:

• Applicants who have not visited the school prior to enrollment will have the opportunity to withdraw without penalty within three business days following either the regularly scheduled orientation procedures or following a tour of the school facilities and inspection of equipment where training and services are provided.
• All monies paid by an applicant must be refunded if requested within three days after signing an enrollment agreement and making an initial payment. An applicant requesting cancellation more than three days after signing an enrollment agreement and making an initial payment, but prior to entering the school, is entitled to a refund of all monies paid minus a registration fee of 15% of the contract price of the program, but in no event may the school retain more than $150.

Dismissal and Withdrawal Policy:

• Dismissals or withdrawals within the first three days of class:

Will result in a refund of any tuition charges only. Fees and deposits are non-refundable.

• Dismissals or withdrawals after the third day of class but prior to 60% completion of course/program:

This will result in a pro-rated refund of tuition (if any) calculated on the number of hours completed.  This is in relation to the total course/program hours less the non-refundable $150 registration deposit and any unpaid charges.

• School supplies and books may be returned prior to the start of the term. Full refund provided.
• School supplies and books are not refundable after the start of the term.
• There is a 30-day replacement policy on defective book package items only.
• Dismissal or withdrawal after completing 60% of a course/or program will result in no refund.
• The termination date for refund computation purposes is the last date of actual attendance.
• A refund will be made within 60 days of dismissal or receipt of withdrawal notice, or in compliance with Federal financial aid refund policy.
• Students returning to complete the program will be required to pay for each class/course remaining at the current tuition rate.  Students will be subject to a $100 re-enrollment fee.

Return to Title IV Policy

Students receiving assistance from Federal Title IV programs may be subject to a special refund or return to Title IV requirements as of 10/7/00 per federal regulations and as part of the changes to student loan programs made by the higher education reconciliation act of 2005 (the HERA), Pub. L. 109-171, provided they have completed less than 60% of the payment period for which aid was, or could have been, disbursed. Federal regulations require the return of Title IV funds in the following order, if applicable: unsubsidized loans, subsidized loans, Perkins loans, Plus loans, Pell Grants, SEOG or other Title IV programs. NYIM uses a third party servicer (FAS,INC.) to process the withdrawal calculation. The servicer then provides NYIM with the calculation. NYIM then complies with the return requirements as applicable.

Procedure for drops/withdrawals/dismissals: Upon notification of a student withdrawal, the Financial Aid office completes a “Return of Title IV Funds Calculation” sheet and submits through the internet portal to FAS (the servicer). The servicer then performs the calculations using the federal software program. The servicer notifies NYIM of the results. NYIM will notify the student of determination and return Title IV funds is required. Refunds Title IV Funds are returned within federal requirements to specific programs as listed above.

A copy of the calculation is kept in the student’s financial aid file along with proof that the return requirements were met. Should the student owe a repayment of federal grant monies, the servicer will be notified who will in turn notify the appropriate parties.

Withdrawal

Students who wish to withdraw from NYIM shall not be required to submit their request in writing but must complete loan exit counseling. Students who fail to attend class for more than 5 days without notifying the education department will be dismissed from the program. (See conditions for dismissal.)