Financial Aid Eligibility Criteria

To be eligible for aid you must fill out a FAFSA or go online to the FAFSA website at www.fafsa.ed.gov. You will need your 2006 tax returns if you are applying for Spring, 2008.

Aid Available:

Pell: Federal grant (max. $4,050) depending on EFC (expected family contribution). If this is your first time going to college, you may be eligible. If you have already received your bachelor’s degree, you are not eligible.

Tap: State grant (max. $5,000). You must take 12 credits or more to be eligible. You are only allowed 8 semesters. Also, you must be a New York State Resident.

The need is calculated by using the following formula:
EFC – COA (cost of attendance = Need)

Loans Available:

Subsidized loan – Need based (max. for freshman $2,625 – Senior $3,500), you do not pay interest or principal back until 6 mos. After graduation.

Unsubsidized loan – Not need based (max. $4,000), you start paying interest back 60 days after the second disbursement. (April) Must be independent. Parent Loan – Up to cost of attendance. Must be dependent.

To be considered independent, one must be able to answer “yes” to at least one of the following questions:

--- Were you born before 01/01/82?
--- Working on a degree beyond Bachelor Degree?
--- Married?
--- Have children who receive at least half of their support from you?
--- Have a dependent (other than child or spouse) that lives with you?
--- Ward of the state or orphan?
--- Veteran of U.S. Armed Forces?