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The City College Of New York Financial Aid Office

Learn about financial aid basics at the City College of New York, including FAFSA, eligibility criteria, federal Pell grant, work-study, loans, and satisfactory academic progress requirements.

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The City College Of New York Financial Aid Office

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  1. Financial Aid Office The City College Of New YorkFinancial Aid Office Financial Aid Basics by: CCNY Financial Aid Office May 2016 The City College of New York CITY COLLEGE IS Corporation

  2. Federal Work-Study 1 I FA Basics CITY COLLEGE IS

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

  4. Eligibility Criteria for Federal Student Aid 3 I FA Basics CITY COLLEGE IS

  5. The Free Application for Student Financial Aid (FAFSA) • Complete a 2016-2017 FAFSA (www.fafsa.gov) - The City College federal school code is 002688 • Completing a FAFSA determines eligibility for federal Pell grant, Work-Study, SEOG or Perkins Loan. (At CUNY colleges Perkins loans are not awarded to freshman) • Use prior year’s income documents (ex. 2015 Tax return, W-2’s, or other income for 2016-2017 FAFSA Application) 4 I FA Basics CITY COLLEGE IS

  6. FAFSA cont’d Follow-up is important! • Read “Student Aid Report” (SAR) sent by email from federal processor. • After reviewing the SAR- contact the Financial Aid Office to: • Check on status of FAFSA application • Complete Verification Process • Submit other required documents 5 I FA Basics CITY COLLEGE IS

  7. Federal PELL Program • Undergraduate Students • Award determined by the Free Application for Student Aid (FAFSA) • 2016- 2017 Pell range from $598 to $5,815 academic year 6 I FA Basics CITY COLLEGE IS

  8. Enrollment Requirements • Undergraduate students • Federal Pell Grant – requires 1 to 12+ credits/semester limited to 12 full-time semesters (6 years) • Federal SEOG Grant –requires 6 to 12+ credits/semester (must be eligible for PELL) • Undergraduate and Graduate • FWS GRANT – requires 6 to 12+ credits/semester 7 I FA Basics CITY COLLEGE IS

  9. Supplemental Educational Opportunity Grant (SEOG) • Additional grant for Pell grant recipients • CUNY “packages” students • Award amounts vary ($200 - $500/academic year) 8 I FA Basics CITY COLLEGE IS

  10. Federal Work-Study (FWS) • University “packages” awards • Students earn awards through employment with on campus or off campus jobs • 20 hour weekly maximum, while classes are in session • 35 hour weekly maximum, during winter and spring breaks • Access to FWS employment system – JobX OR Go to:https://ccny.studentemployment.ngwebsolutions.com/ 9 I FA Basics CITY COLLEGE IS

  11. Loans: • Student loans can come from the federal government or from private sources such as a bank or financial institution. Loans made by the federal government, called federal student loans, usually offer borrowers lower interest rates and have more flexible repayment options than loans from banks or other private sources. 10 I FA Basics CITY COLLEGE IS

  12. Loans cont’d • Federal Direct Loan: - Undergraduate Subsidized and/or Unsubsidized - Graduate/Doctoral – Unsubsidized only • Federal Parent Plus Loan ( for dependent Undergraduates) • Federal Grad PLUS Loan (for Graduate and Doctoral students) • Alternative (Private) Student Loans (external lenders) 11 I FA Basics CITY COLLEGE IS

  13. Loans cont’d • Federal Direct Loans: – Requires minimum enrollment of 6 credits • Alternative (Private) Student Loans: – Enrollment requirements determined by each lender – Credit check required – Co-signer may be required 12 I FA Basics CITY COLLEGE IS

  14. 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 advisor and the Financial Aid Office 13 I FA Basics CITY COLLEGE IS

  15. 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) 14 I FA Basics CITY COLLEGE IS

  16. Satisfactory Academic Standards 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 15 I FA Basics CITY COLLEGE IS

  17. 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 Service Corporation ( ) TAP Application 17 I FA Basics CITY COLLEGE IS

  18. TAP Application 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: • Apply : www.tap.hesc.ny.gov/totw/ • Check status of TAP award: www.hesc.ny.gov • City College School code: 1411 19 I FA Basics CITY COLLEGE IS

  19. TAP Application cont’d 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 first day of class • Be enrolled as a full-time undergraduate student taking at least twelve (12) required credits per semester (classes must be required for your degree) 19 I FA Basics CITY COLLEGE IS

  20. TAP Application 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. 21 I FA Basics CITY COLLEGE IS

  21. 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 (paid) • 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

  22. Financial Aid Payment cont’d Disbursements vs Refunds • Disbursements: • The date financial aid is scheduled for payment. • Refunds: • Payment of excess financial aid (after tuition and fees are covered). 22 I FA Basics CITY COLLEGE IS

  23. Financial Aid Payment cont’d Refunds Methods of Receiving FA Refunds • Direct Deposit – Payment received in savings or checking account on the disbursement date • Check – Allow 5 to 10 business days to receive a refund check in the mail • CUNY Scholar Card – Students must receive an email invitation to apply 23 I FA Basics CITY COLLEGE IS

  24. Deadlines: • Scholarship deadlines – vary by specific scholarship • Priority deadline for completing a FAFSA and TAP application is Marchof each year • Benefits of applying early and meeting deadlines allow eligible applicants to be considered for: • Federal Supplemental Educational Opportunity Grant (SEOG) • Federal Work-Study Program (FWS) 24 I FA Basics CITY COLLEGE IS

  25. 25 I FA Basics CITY COLLEGE IS

  26. CCNY Scholarship Information 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 26 I FA Basics CITY COLLEGE IS

  27. 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 27 I FA Basics CITY COLLEGE IS

  28. Resources TAP Grant status and information: • www.hesc.ny.gov Federal student eligibility and student aid information: • www.studentaid.gov Selective Service: • www.sss.gov 28 I FA Basics CITY COLLEGE IS

  29. Resources cont’d or Video: https://www.youtube.com/watch?v=Pn4OECMTh5w 29 I FA Basics CITY COLLEGE IS

  30. Financial Aid Office 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) 650-6656/6655/6100 Email: financialaid@ccny.cuny.edu CITY COLLEGE IS

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