Financial aid consists of federal grants, scholarships, state grants and loans. All sources are considered when packaging your award.
Federal Financial Aid
The following Federal Financial Aid programs and loans are available to students:
Federal Pell Grants
Pell is a federal grant that is determined by your financial profile. The completion of a FAFSA is the first step in determining your eligibility. The FAFSA is a free application available online at www.fafsa.gov.
All students are encouraged to complete the FAFSA. The SUNY Morrisville school code for completing the FAFSA is 002859.
Federal Supplemental Educational Opportunity Grant (SEOG)
The Federal SEOG program is for students of exceptional financial need who would be unable to continue their education without the grant. A student is eligible to apply if matriculated at least half-time as an undergraduate or vocational student in a participating educational institution and must be Pell Grant eligible.
Graduate students are not eligible. A Federal SEOG award cannot be less than $100 or more than $4,000 a year. Normally, a Federal SEOG may be received for up to four years. However, the grant may be received for five years when the course of study requires extra time. Since the Federal SEOG is awarded by the college, only normal financial aid application procedures need be followed.
Parent Loan for Undergraduate Students (PLUS)
To be eligible for a federal PLUS loan as a parent, you must be a U.S. citizen or eligible noncitizen. You must also be your child’s biological or an adoptive parent, or step-parent whose income and assets were reported on the FAFSA. Your child must be under the age of 24, be unmarried, have no dependents, cannot be a veteran of the U.S. armed forces, and must be enrolled at least half-time in an undergraduate program at an eligible institution. If you have more than one child you wish to borrow for, you must apply for a separate PLUS loan for each student.
Federal PLUS permits parents to borrow the full cost of education less any financial aid at a relatively low interest rate. Repayment will begin 60 days after the full loan is disbursed at a current fixed interest rate of 6.84%. A origination fee will be deducted from the amount of the loan.
You may have the option to defer payments while the student you borrowed for is enrolled at least half-time in an undergraduate program. Typically you have 10 years to pay off your loan, with no penalty for early pay-offs. For further information contact Direct Lending at 1-800-557-7394 or visit www.studentloans.gov.
Depending on your income, interest paid on a PLUS loan may be tax deductible.
All PLUS loans are subject to a credit check. If for any reason your application is not approved, please contact the Financial Aid office for further instructions.
Native American Assistance
United States Bureau of Indian Affairs Aid (BIA) to Native Americans is awarded by the Bureau of Indian Affairs to eligible applicants. To be eligible an applicant must be at least one-fourth American Indian, Eskimo, or Aleut; be an enrolled member of a tribe, band or group recognized by the Bureau of Indian Affairs; be enrolled in or accepted for enrollment in an approved college or university; and have financial need.
For grants to be awarded in successive years, satisfactory progress toward a degree and financial need must be demonstrated. Depending on availability of funds, grants may also be made to graduate students and summer session students. Eligible married students may also receive living expenses for dependents.
Application forms may be obtained from the Bureau of Indian Affairs Office, U.S. Department of the Interior. An application is necessary for each year of study. An official needs analysis from the college financial aid office is also required each year. Each first time applicant must obtain tribal enrollment certification from the Bureau agency or tribe which records enrollment for the tribe.
Federal Nursing Student Loan Program (NSLP)
The Federal NSLP is for students who are enrolled at least half-time in an approved program leading to the associate degree in nursing. The college determines who is eligible for the loan, and the amount that will be offered. A student may borrow up to $3,000 per year.
Repayment begins nine months after the borrower graduates, leaves the program or leaves school for other reasons. Interest during the repayment period is five percent. At the end of the nine month grace period, the student must begin making payments or deferment arrangements.
Information on this program will be provided automatically to all borrowers and to others upon request. Since the Federal NSLP is awarded by the college, only normal financial aid application procedures need be followed by those eligible students interested in the program.
Federal Direct Loans for Student Borrowers
To be eligible for a Direct Loan, a student must be a U.S. citizen or permanent resident alien and must be enrolled in or admitted as at least a half-time student at an approved college, university or other post secondary institution in the United States or in a foreign country.
An undergraduate may borrow up to $5,500 the freshman year, $6,500 the sophomore, $7,500 the junior year, and $7,500 the senior year of study. The Federal Government will pay interest on the subsidized loan while the student is in college and for a six month grace period before repayment begins. If a student is eligible for an unsubsidized loan, the student has the option of paying the interest while in school. An origination fee will be deducted from the amount of the loan. All loan disbursements for first-time borrowers must be held for 30 days into the semester per Federal regulation.
A student may borrow at a relatively low interest rate with no repayment as long as enrolled at least half-time, and for six months after program completion or departure. Payment of principal may further be deferred during study under a graduate fellowship program approved by the U.S. Secretary of Education, during up to three years of active U.S. armed forces service, during up to three years as a full-time Peace Corps or VISTA or similar national program volunteer, or during up to 12 months of unsuccessful search for full-time employment.
The following regulations apply:
- Depending on the amount of the loan, the minimum monthly payment will be $50 plus interest. Under unusual and extenuating circumstances the government, on request, may permit reduced payments.
- The standard repayment period is 10 years.
- The maximum period of loan from date of the original note may not exceed 15 years, excluding authorized deferments of payments.
- Repayment in whole or part may be made any time without penalty.
You must complete the FAFSA to be eligible for Federal Direct Student Loans.
Federal Aid Programs
Federal College Work Study (CWS) Program
The Federal CWS program provides funds to employ students who have financial need and who must earn a part of their educational expenses. Students must be enrolled at least half-time in a graduate, undergraduate or vocational program in an approved post-secondary educational institution.
The college determines who is eligible for FCWS, how much the student may earn and when the student will work. SUNY Morrisville will make every effort to place a student in a job which relates to the student's course of study, but no guarantee can be given that this will be the case. Jobs range from assisting individual instructors to clerical assistants to tour guides in the admissions office. Since FCWS is awarded by the college, only normal financial aid application procedures need be followed to apply.
FCWS monies will NOT be automatically credited to the student's bill; it is up to the student to apply payments toward their bill from the monies earned through FCWS.
Montgomery G.I. Bill - Active Duty
Educational Assistance Program (Chapter 30) Based on active duty service beginning on or after July 1, 1985 or you entered on active duty before January 1, 1977 and served on active duty for any number of days during the period October 19, 1984 to June 30, 1985, and continued on active duty through June 20, 1988.
Montgomery G.I. Bill - Selective Reserve
Educational Assistance Program (Chapter 106) Notice of Basic Eligibility, member of the selected reserve.
Survivors' and Dependents Program
Educational Assistance Program (Chapter 35) only for survivors and dependents of deceased or permanently and totally disabled veterans. Both must be service connected qualifications.
VEAP (Chapter 32)/Non-Contributory VEAP (Section 903)
Service beginning on or after January 1, 1977 through June 30, 1985.
Additional Federal Financial Aid Information
Other Federal Student Financial Aid Programs
A large number of special-purpose Federal programs exist, many of which are administered through specific institutions of post secondary education. Most of these programs would be of interest to relatively small numbers of students and prospective students, by virtue of need or special interest, or both. Some are available only to graduate or professional students, in certain fields. Some carry with them periods of obligated service.
The most authoritative, although certainly not the only reference for additional information on these, and many other programs, is published annually: Catalog of Federal Domestic Assistance and is available online at https://www.cfda.gov/.
New York State Financial Aid
The following New York State Aid programs and loans are available to students:
Tuition Assistance Program (TAP)
TAP provides funds in the form of grants for students who have been legal residents of New York State for at least one year immediately preceding the term for which payment is requested.
To be eligible for a TAP award a student must be a U.S. citizen or resident alien, a New York State resident, a full-time, matriculated student in an approved program in New York State, and have a combined family state net taxable income for the previous year of $80,000 or less.
Awards range from $500 to $5,165.
Regents Awards for Children of Deceased or Disabled Veterans
Grants are awarded to New York State residents who are children of certain deceased or disabled veterans and who attend approved public and independent colleges and schools in New York State.
Applications are accepted from a child of a veteran who died, or who has a current disability of 50 percent or more, or who had such disability at the time of death, resulting from U.S. military service during one of the following periods:
April 16, 1917-November 11, 1918;
December 7, 1941-December 31, 1946;
June 25, 1950-July 27, 1953;
October 1, 1961-March 29, 1973;
and who is a legal resident of New York State. The parent must be a legal resident of New York State at the time of entry into military service, or, if the parent died as the result of military service, at the time of death. Students whose parents served in the Persian Gulf conflict may also be eligible.
Regents awards to children of deceased or disabled veterans are independent of family income or tuition charge, and are in addition to such other grants or awards to which the applicant may be entitled. The amount of the award is $450 per year, for up to five years, depending on the normal length of the program of study, of full-time study in a college or in a hospital nursing school in New York State. A special application, obtainable from a high school principal or counselor, must be filed with the New York Higher Education Services Corporation (HESC), Tower Building, Empire State Plaza, Albany, New York 12255. Documentary evidence to establish eligibility is required with the application. Any high school counselor can provide assistance with this.
State Assistance for Native Americans
Grants of $1,550 are awarded to high school graduates who are residents of one of New York's eight major reservations and who attend an approved post secondary educational institution in New York State.
Information may be obtained by contacting:
New York State Native American Programs
Room 543, New York State Education Dept.
Albany, N.Y. 12234
The New York State Office of Adult Career and Continuing Education Services-Vocational Rehabilitation (ACCES-VR) provides program counseling and financial assistance for students who have certain physical, mental or emotional disabilities.
Contact the nearest ACCES-VR for information, or write to:
University of the State of New York
State Education Department
Office of Vocational Rehabilitation
Albany, N.Y. 12234
Canadian Financial Aid
The following Financial Aid programs are available to Canadian students who are studying in the United States:
An alternative loan (private loan) is a loan with a variable interest rate that requires a credit-worthy co-signor if a student does not have the required credit history established. Alternative loans have a 6 month grace period. Interest begins to accrue when the first disbursement is made. View the list of previously used alternative loan lenders from the past two years. You may choose from this list or opt to use another alternative/private loan lender of your choice.