Financial Aid
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Grants:
Pell Grant
- From the Federal government. You automatically apply for it when filing out the FAFSA.
- Given to those whose families have low incomes.
SEOG (Supplemental Education Opportunity Grant)
- From the Federal government.
- Colleges determine who gets it depending on your need compared to that of other students.
TAP (Tuition Assistance Program)
- Need based grant money from New York State for state residents who will be going to college in state.
- The form will be mailed to you in March if you have a New York school on your FAFSA.
Scholarships:
- Free money from school or outside sources.
- Might have conditions such as maintaining a certain GPA.
School Scholarships
Usually need based or to entice you to come to their school.
Outside Scholarships
Schools may reduce the grant money that they give you.
Student Loans:
Stafford
Relatively low interest loans taken by the student.
Subsidized need based and no interest charged until after graduation
Unsubsidized non-need based and interest accrues while in school
Perkins
- Loans made by the college with money from the government.
- Low interest rate that is paid by government while in college.
- Based on need but given at the Financial Officer's discretion.
PLUS (Parent Loans for Undergraduate Students)
- Available to all parents, no matter income.
- Can borrow up until the cost of attendance minus financial aid.
- Not part of the financial aid package.
Work Study
Employment offered by school. Money given directly to student.