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Financial Aid Basics at City College: FAFSA, Eligibility, and More

Learn about the Free Application for Federal Student Aid (FAFSA), eligibility criteria, enrollment requirements, satisfactory academic progress, New York State aid, scholarship information, and more at City College.

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Financial Aid Basics at City College: FAFSA, Eligibility, and More

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  1. Financial Aid Basics CITY COLLEGE IS

  2. Topics • The Free Application for Federal Student Aid (FAFSA) • Sources of financial aid, eligibility criteria and enrollment requirements • Satisfactory Academic Progress Requirements • New York State Aid • Financial Aid Payments • Scholarship Information 2I FA Basics CITY COLLEGE IS

  3. The Free Application for Federal Student Aid (FAFSA) • Complete a 2018-2019 FAFSA (www.fafsa.gov) as early as October 1st every year. The City College federal school code is 002688 • Completing a FAFSA determines eligibility for: • Federal Pell grant • Federal Work-Study award • FSEOG grant • Federal Student Loans • Use prior year’s income documents (ex. 2016 IRS Transcript, W-2’s, or other income for 2018-2019 FAFSA Application) 3 I FA Basics CITY COLLEGE IS

  4. FAFSA cont’d Follow-up is important! • Review your “Student Aid Report” (SAR) sent via email from the federal processor. • Check your “To Do List” on your CUNYfirst “Student Services Center” to ensure that you do not have any checklist items that need further action. 4I FA Basics CITY COLLEGE IS

  5. 5I FA Basics CITY COLLEGE IS

  6. Federal PELL Grant • Undergraduate Students • Award determined by the Free Application for Federal Student Aid (FAFSA) • 2018- 2019 Pell awards range from $650 to $6,095 academic year 6 I FA Basics CITY COLLEGE IS

  7. Federal Supplemental Educational Opportunity Grant (FSEOG) • Additional grant for Pell recipients • Students are packaged by CUNY Central Office • Award amounts vary ($200 - $500/academic year) 7 I FA Basics CITY COLLEGE IS

  8. Federal Work-Study Award (FWS) • Students are packaged by CUNY Central Office • Students earn awards through employment with on campus or off campus jobs • 20 hours weekly maximum, while classes are in session • 28 hours weekly maximum, during winter and spring breaks 8I FA Basics CITY COLLEGE IS

  9. Federal Direct Loans • Federal Direct Loans: • Undergraduate Subsidized and/or Unsubsidized • Graduate/Doctoral – Unsubsidized only (auto-packaged) • Federal Parent Plus Loan ( for dependent Undergraduates) • Credit check required • Federal Grad PLUS Loan (for Graduate and Doctoral students) • Credit check required 9I FA Basics CITY COLLEGE IS

  10. Alternative (Private) Loans • Alternative (Private) Student Loans: (external lenders) – Enrollment requirements determined by each lender – Credit check required – Co-signer may be required 10 I FA Basics CITY COLLEGE IS

  11. Eligibility Criteria for Federal Student Aid 11 I FA Basics CITY COLLEGE IS

  12. Federal Satisfactory Academic Progress Requirement (SAP) • Minimum GPA: Undergraduate students must achieve the following Grade Point Average (GPA) at City College: 5 -12 attempted credits = 1.50 GPA required 13 -24 attempted credits = 1.75 GPA required 25+ attempted credits = 2.00 GPA required Note: Before withdrawing from classes consult with an academic advisor and the Financial Aid Office. 12 I FA Basics CITY COLLEGE IS

  13. Federal Satisfactory Academic Progress Requirement (SAP) B. Maximum time-frame: Attempted credits must be no more than 150% of the credits required for the completion of the degree. (120 credit degree x 150% = 180 maximum credits attempted) 13 I FA Basics CITY COLLEGE IS

  14. Satisfactory Academic Progress Requirement cont’d • C. Pace of progression: • Accumulated (or earned) credits must be equal to or greater than a certain percentage of the total amount of attempted credits. • The chart below summarizes the City University’s “progression toward degree” requirements for undergraduate degrees that require 120 credits: • Title IV Pace of Progression Chart 14 I FA Basics CITY COLLEGE IS

  15. Enrollment Requirements • Undergraduate students • Federal Pell Grant – registered for 1 to 12+ credits/semester, limited to 12 full-time semesters (6 years) • Federal SEOG Grant – registered for 6 to 12+ credits/semester (must be Pell eligible) • Undergraduate and Graduate • FWS Award– registered for 6 to 12+ credits/semester • Federal Student Loans – registered for a minimum of 6 credits 15 I FA Basics CITY COLLEGE IS

  16. What is TAP? TAP is the New York State Tuition Assistance Program which helps eligible New York State residents pay their college tuition. The TAP program is administered by the N.Y.S Higher Education Services Corporation ( ) New York State Aid 16 I FA Basics CITY COLLEGE IS

  17. New York State Aid Cont’d • Currently, TAP awards range from $500 ($250.00 per semester) to $5165.00 ($2582.50 per semester). • Note: Your anticipated TAP award amount may change after HESC completes income verification. • NYS Residents – Apply for TAP after completing the FAFSA. (see link at end of FAFSA application) • or • Go to: www.tap.hesc.ny.gov/totw/to apply • Check status of TAP award: www.hesc.ny.gov • City College School code: 1411 17 I FA Basics CITY COLLEGE IS

  18. TAP Eligibility To be eligible for TAP, you must: • Be a United States citizen or eligible noncitizen • Be a legal resident of New York State, as defined by HESC rules • Have graduated from high school in the United States, earned a GED, or passed a federally approved "Ability to Benefit" test as defined by the Commissioner of the State Education Department before the 21st day of the semester • Be enrolled as a full-time undergraduate student taking at least twelve (12) contributory credits per semester (classes must be contributory towards your program of study) 18 I FA Basics CITY COLLEGE IS

  19. TAP Eligibility cont’d • Declare/change a major, minor and/or concentration no later than the established date available on the Academic Calendar in the first term of your junior year (60 credits) in an approved four-year program • Meet good academic standing requirements (see NYS TAP Guidelines) • Not be in default of a student loan guaranteed by HESC or on any repayment of state awards. 19 I FA Basics CITY COLLEGE IS

  20. Excelsior Scholarship • New York State residents can apply for the NYS Excelsior Scholarship via HESC at: www.hesc.ny.gov/excelsior • The 2018-2019 Excelsior Scholarship application for new applicants has been available since March 26th and the deadline is July 23, 2018. • Students must file a FAFSA and TAP application before filing the Excelsior Scholarship application. • Applicants must be in continuous enrollment with at least 12 credits per semester and complete at least 30 credits each year contributory towards their program of study. 20 I FA Basics CITY COLLEGE IS

  21. Excelsior Scholarship Cont’d • Recipients may receive up to $5,500 ($2,750 per semester) or actual tuition for the aid year, whichever is less. • The maximum Excelsior Scholarship will be reduced by the amount of other financial aid awards, which an applicant has or will receive for the academic year including other New York State aid award(s) and/or federal grant(s) (last dollar). • Recipients must live in New York State for the length of time they received the award. Failure to meet these requirements will result in the conversion of your award to a no-interest loan. • For additional information, contact HESC or visit their website: www.hesc.ny.gov. 21 I FA Basics CITY COLLEGE IS

  22. Financial Aid Payment • Approximately 2 to 3 days after registering, financial aid appears on student’s CUNYfirst account • Appears as “pending” financial aid until award is disbursed • If you have a balance after the financial aid is applied, pay it online or at the Bursar’s office Note: The Bursar only accepts cash, checks or money orders 22 I FA Basics CITY COLLEGE IS

  23. Financial Aid Payment cont’d Methods of Receiving FA Refunds • Direct Deposit – Payment deposited in savings or checking account. • Check – Allow 5 to 10 business days to receive a refund check in the mail. 23 I FA Basics CITY COLLEGE IS

  24. 24 I FA Basics CITY COLLEGE IS

  25. Internal CCNY Scholarships Office of the Admissions Wille Administration Building, Room A 101 160 Convent Ave. New York, N.Y. 10031 Phone: (212) 650-7035 Go to: https://www.ccny.cuny.edu/admissions/scholarships-awards 25 I FA Basics CITY COLLEGE IS

  26. External Scholarships • Check with local sources – church, parents’ employer, professional organizations, private corporations, and local politicians • Register for free scholarship searches: • www.fastweb.com • www.brokescholar.com 26 I FA Basics CITY COLLEGE IS

  27. Contact REPLAY END Financial Aid Office The City College of New York Wille Administration Building, Room A-104 160 Convent Ave. New York, N.Y. 10031 Phone: (212) 650-6656 Email: financialaid@ccny.cuny.edu CITY COLLEGE IS

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