Financial Aid
Financial Aid for Graduate Students
General eligibility requirements, which are detailed on the Free Application for Federal Student Aid (FAFSA), include the student being a U.S. Citizen (a New York State Resident for state programs), being matriculated in a master's degree program and meeting the satisfactory academic progress requirements for financial aid eligibility. Students interested in applying for funds from any of the following Federal or New York State aid programs should visit the following site for a description of the application procedure at: Financial Aid Eligibility and Application Process
Federal Direct Loan Program
The Federal Direct Loan Program is made up of Federal Direct Subsidized Loans and Federal Direct Unsubsidized Loans.
Federal Direct Subsidized Loans are based on the student's financial need. Loans are made directly to the student from the college. The federal government pays the interest that accrues on the loan while the student is enrolled at least 6 credit hours and during a 6 month grace period after the student ceases half-time enrollment. Students must be enrolled at least half-time and can apply for a maximum of $8,500 per academic year; however, the actual amount received will depend on the student's financial aid budget, the amount of expected student contribution, and the amount of other financial aid the student is receiving.
Federal Direct Unsubsidized Loans are not based on the student's financial need; students who qualify for an unsubsidized loan are responsible for all interest that accrues even while they are enrolled. Interest begins to accumulate from the date of the first loan disbursement and is billed quarterly. The borrower may choose to pay the interest that accumulates or have it capitalized. A qualified student can apply for a maximum of $12,000 per academic year; however the actual amount received will depend on the student's financial aid budget and the amount of other financial aid the student is receiving.
Additional information on these loans can be obtained at: www.direct.ed.gov
Federal Perkins Loan Program
A Federal Perkins Loan is a low-interest (5 percent) loan for students with exceptional financial need. The annual maximum a graduate student can borrow is $8,000; however, the actual amount is determined by the student's financial need and the amount of funds available to the college at the time the student's aid application is being processed. Information about this and other Federal aid programs can be found at: www.studentaid.ed.gov
Federal Work Study Program
The Federal Work-Study program provides part-time jobs for students with financial need, allowing them to earn money to help pay educational expenses. The program encourages community service, in particular tutoring young children in reading and math. Actual award amounts are determined by the student's financial need and the amount of funds available to the college at the time the student's aid application is being processed. Information about this and other Federal aid programs can be found at: www.studentaid.ed.gov
Private Scholarships
You can conduct your own search for potential private scholarships by visiting www.finaid.org and clicking on the "Scholarship" title. You might also want to explore the "other types of aid" heading.
Employer Reimbursement
You should check with the Human Resources office at your place of employment. Often times employers will reimburse employees for courses that will improve their job skills.
Federal Title IV (FAFSA) School Code: 011678
NYS TAP Graduate School Code: 5695
