SUNY Financial Aid Day Tom Panettiere Greta Silva

SUNY Financial Aid Day Tom Panettiere & Greta Silva Student Financial Services

Every Year Please: 1. Complete the FAFSA, Free Application for Federal Student Aid • Available October 1 • Uses 2 -year old tax information 2. New York Residents should also apply for TAP, Tuition Assistance Program 3. New York Residents should also apply for the Excelsior Scholarship

Excelsior Scholarship will help families with incomes generally between $50, 000 - 125, 000 for 2018 -19* • • Be a NYS resident & a US citizen or eligible non-citizen Be attending a SUNY or CUNY Be on track to graduate on-time • Must complete at least 30 credits per year Meet household Adjusted Gross Income limits: • $125, 000 in 2019/20 uses 2017 income Live/work in NYS agreement (failure to do so can turn this to a loan) Limited Window to Apply Contact New York State Higher Education Services Corporation • 888 -697 -4372 • Sign Up Online to Receive Email Notifications • Chat Feature Works Well

Important Tips • • If Your Situation Changes From the 2 Year Old Tax Info…Contact the Financial Aid Office Look into working on campus through Work-Study or Career Development/Job. Score Stay On Track to Graduate On Time or Early! Students need to be monitoring their Purchase College email

How Much Can College Cost? 4 -Year PUBLIC In-State, On-Campus Tuition and fees: Room and board: Books and supplies: Transportation: Personal expenses: Cost Of Attendance: $ 8, 688 $13, 764 $ 1, 250 $ 1, 170 $ 2, 100 $26, 972

What Determines Financial Need? Expected Family Contribution

Types of Financial Aid Grants and/or Scholarships Work Loans

Sources of Financial Aid • Federal Government • State Government • Private Resources

Grants and/or Scholarships Tuition Assistance Program (TAP)-NY Res. Excelsior- NY Res. Federal Pell Grant Federal SEOG

Purchase College Scholarships$2. 2 Million Awarded in 2018 -19 • At Purchase, determination of scholarship eligibility is made by either the Admissions Office or the Arts Conservatories (if the student is an Arts major). • If going elsewhere and checking on scholarship eligibility, try to inquire which office is responsible for the awarding. • At Purchase, questions on scholarship eligibility can be forwarded to Daija Russell, Scholarship Coordinator daija. russell@purchase. edu

The College Board www. collegeboard. com Fast. Web. com www. fastweb. com Federal Money www. fedmoney. org Fin. Aid. org www. finaid. org Scholarships. com www. scholarships. com

Loans Federal Stafford (for students) • Subsidized (interest rate in 2018 -19=5. 05%) • Unsubsidized (interest rate in 2018 -19=5. 05%) Federal PLUS Loan (for parents) • Parent must go through credit check • (interest rate in 2018 -19=7. 60%) • Parent can borrow remainder between cost of attendance minus Fin. Aid Private Education Loans (not recommended) • May be variable interest rate • Student will probably need cosigner (depending on lender, may not need to be parent)

The Road to FAFSA §Make sure it’s the correct webpage! And FREE §FAFSA. ED. GOV §Create an FSA ID for student and one parent §FSAID. ED. GOV

Looking Forward § Learn about smart borrowing (Purchase College website under Financial Aid/Financial Literacy SUNY Smarttrack Financial Planning) § Help is all around § Plan to complete your degree on time or early § Be aware of deadlines