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College Financial Aid Helping Your Students hesc

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College Financial Aid Helping Your Students hesc

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  1. College Financial Aid Helping Your Students


  3. NYS Resident?

  4. What is Financial Aid? • Scholarships • Grants • Loans • Employment opportunities

  5. Goals of Financial Aid To assist students in paying for college by: • evaluating family’s ability to pay for educational costs • distributing limited resources in an equitable manner • providing balance of gift aid & self-help aid

  6. Student Financial Aid from: • New York State • Federal Government • Colleges • Private Sources

  7. Government Sponsored Financial Aid Programs • Provide 2/3 of all student aid • Many students are eligible • Must apply to find out

  8. To receive federal aid students must: have a high school diploma or General Education Equivalent (GED) Certificate be enrolled or accepted for enrollment as a regular student working toward a degree or certificate in an eligible program be a U.S. citizen or eligible non-citizen provide driver’s license number, if applicable

  9. and… • have a valid Social Security Number • make academic progress • register with Selective Service, if applicable • sign a statement of educational purpose and a certification statement on overpayment and default (both of which are found on the FAFSA) • not have eligibility suspended due to drug-related conviction

  10. New York State aid • In addition to the above, students must: • be a New York State Resident • attend an eligible school in New York State • meet other eligibility criteria for specific programs

  11. Definition of Need Cost of attendance (COA) – Expected family contribution (EFC) = Financial need

  12. Cost ofAttendance • Tuition & Fees • Books & Supplies • Room & Board • Transportation • Miscellaneous Personal Expenses • Loan Fees • Expenses Associated with a Disability • Dependent or Elder Care Expenses • Expenses for Study Abroad or Cooperative Education Programs

  13. GRANTS • Usually based on need; sometimes onother factors. • money given to student to help pay for college. • money does not have to be repaid. • examples: • federal Pell Grant (federal) • Tuition Assistance Program (TAP) (NYState)

  14. Federal Pell Grant Program • awarded to eligible undergraduates pursuing a first baccalaureate or professional degree • up to $ 4,371.00* maximum (2008-09) $ 5.350.00 maximum (2009-10) • portable (school to school) • college aid administrator determines actual award amount based on COA, enrollment status, and EFC

  15. New York State Tuition Assistance Program TAP

  16. To get TAP, the student must: • Be a US Citizen or eligible non-citizen • Be a legal resident of New York State • Study full time – at least 12 credits per semester at an approved postsecondary institution in NYS • Be a high school graduate, have a GED or pass a federally-approved Ability to Benefit exam

  17. …and: • Be matriculated in an approved program of study and be in good academic standing • Have at least a cumulative “C” average after receipt of two annual payments of TAP • Be charged at least $200 tuition per year • Not be in default of a student loan guaranteed by HESC and not be in default of any repayment of state awards • Meet income eligibility limitations

  18. How much TAP can a student get? • Dependent Undergraduate Students • Award Range: $500 - $5,000 • Independent Undergraduate Students • Award Range: $500 - $3,025 • Graduate Students • Award Range: $75 - $550

  19. How much TAP the student gets depends on: • Type of academic institution and tuition charge • NYS net taxable income – up to $80,000 combined family income for dependent undergraduate students or students who are married or have tax dependents - up to $10,000 for single financially independent undergraduates with no dependents

  20. How to Apply for TAP

  21. Start with FAFSA

  22. Yes; there’s still a Paper FAFSA

  23. After completing the FAFSA, look for -

  24. If your students choose not to use the TAP link on the FAFSA Confirmation Page, they have to wait 3 business days before using TAP on the Web (TOTW) Tell them to go to

  25. When the FAFSA processor sends data and a valid EFC is released to HESC, HESC will: • e-mail student with link to TOTW site or mail a postcard to students with no e-mail address • after 7 days send another e-mail or postcard • after additional 7 days send paper TAP application – cover letter again encourages TOTW and includes link

  26. What Happens Next ? Online Changes

  27. Not Full-time? Part-Time TAP & Aid for Part-Time Study (APTS)

  28. Aid For Part-Time Study(APTS) • Up to $2,000 per year for part-time undergraduate study at participating institutions in New York State • APTS award is based on New York State net taxable income • Campus-based application, & award process • HESC distributes APTS funds to participating colleges in New York State • Colleges award APTS based on funds availability and student need.

  29. Part-Time TAP • Partial TAP payment for students taking 6 to 11 credits • must have earned 12 credits or more in each of two consecutive semesters; • and maintain a minimum “C” average • Standard TAP application process

  30. More New York State Grants, Scholarships, and Awards

  31. Other Grants, Scholarships, and Awards from New York State • New York State World Trade Center Memorial Scholarships • Military Service Recognition Scholarship • Memorial Scholarship • New York State Volunteer Recruitment Service Scholarship • Scholarship for Academic Excellence • Regents Professional Opportunity Scholarship • Persian Gulf Veterans Tuition Awards • NYS Regents Health Care Opportunity Scholarships • Vietnam Veterans Tuition Awards • Robert C. Byrd Honors Scholarship • NYS Math and Science Teaching Incentive Scholarships • Flight 587 Memorial Scholarship Go to

  32. Calculators to estimate financial aid eligibility available at

  33. Key Questions for Education Loan Borrowers

  34. Tips • apply every year • meet all deadlines • keep copies of all forms • contact the college financial aid administrator if your financial situation changes

  35. Financial Aidhelps pay for college, but… • it may not pay the entire cost • savings are important • if you start early, even a small regular contribution can make a BIG difference

  36. Resources for Counselors


  38. College Navigator

  39. Counselor Tools

  40. HS Counselors’ Toolbox

  41. Counselor Newsletter

  42. College and Career Planning

  43. College & Career Planning Information College and Career Planning