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QUESTIONS ASKED BEFORE YOU FILE
HOW DO I KNOW IF I QUALIFY FOR FINANCIAL AID?
In order to determine if you will qualify for financial aid, you must fill out the Free Application for Federal Student Aid (FAFSA). The FAFSA will help determine
whether you have financial need. Other requirements for federal student aid include that you :
- Be enrolled in an approved degree program
- Are a U.S. citizen or eligible noncitizen
- Have a valid Social Security number and
- Make satisfactory academic progress
The Student Guide, which is available outside the OASIS or Office of Financial
Aid, or can be viewed online at www.ed.gov/prog_info/SFA/StudentGuide can provide additional information.
WHAT ARE THE BASIC EXPENSES AT HUNTER?
The basic expenses at Hunter College include tuition and fees and textbooks and
school supplies. You should also make allowances for transportation and living expenses. If you are a full-time undergraduate student (enrolled for 12 or more
credits, or the equivalent) and a resident of New York State, you must pay $2000 for NY resident tuition and student fees of $165 per semester. If you are a
part-time student (taking fewer than 12 credits) and a resident of New York State, you must pay NY resident tuition of $170 per credit and student fees of
$97 per semester. You should allow up to $380 for books and $357 for transportation each term.
WHEN DO I APPLY FOR FINANCIAL AID?
You must apply for financial aid once every academic year. Applications are
available in January for the upcoming Fall semester. You should apply as early as possible using your most accurate tax filing information. For example: If applying
for Fall 2006, applications are available January 2006 and you will need to use the tax filing information for the 2005 tax year to complete your FAFSA. Priority will
be given to students who file the FAFSA and complete the application process by May 1.
HOW MUCH FINANCIAL AID CAN I GET?
The amount of financial aid that a student gets is determined by availability of funds
as well as financial need. Financial need is determined by the following formula:
Cost of Attendance - Expected Family Contribution = Financial Need
The Cost of Attendance is a standard budget figure that includes tuition and fees,
books and supplies, transportation and living expenses. The Expected Family Contribution, an amount you and your family are expected to contribute toward
your education is established from the information you report on your FAFSA and is calculated by a formula established by the U.S. Congress. The resulting
Financial Need determines your eligibility for the various state and federal aid programs.
WHAT KINDS OF FINANCIAL AID CAN I GET?
PROGRAM DESCRIPTIONS:
TUITION ASSISTANCE PROGRAM (TAP)
is a New York State education grant which helps students meet tuition costs. If you receive a TAP award, the
money comes directly to the college for payment of your tuition. To qualify for a TAP award, you must be a U.S. citizen or permanent resident, have lived in New
York State for at least one year prior to the first term for which you are seeking payment, and meet certain income and enrollment criteria.
FEDERAL PELL GRANT
can be used to pay your tuition, or, if your tuition is covered by other means, help with your book, supply and transportation costs.
U.S. citizens and eligible non-citizens enrolled in degree programs, who meet certain income criteria, may qualify for a Federal Pell Grant.
FEDERAL WORK-STUDY
is a program that provides part-time jobs to students who need additional financial aid. Jobs are available both on and off-campus.
FEDERAL SEOG
assists exceptionally needy students and is intended to supplement other forms of financial aid.
AID FOR PART TIME STUDENT (APTS)
is a New York State tuition grant for students who are New York State residents pursuing a degree on a part time
basis. Students must enroll for at least 6 but fewer than 12 credits (including a minimum of 3 degree credits). Students must also meet certain income criteria and
must not have exhausted their undergraduate TAP eligibility. Award amounts vary based on the availability of program funds.
FEDERAL PERKINS LOAN
is a low interest loan awarded by the college to students who demonstrate financial need. It can be used for tuition or other
educationally related expenses. You must begin to repay this money to the college 9 months after graduation or termination of attendance. (Not available to freshmen.)
WILLIAM D. FORD FEDERAL DIRECT LOAN PROGRAM
provides federally insured, low interest, long term loans to students or parents to help cover
the costs of attending college. The federal government is the lender (not a bank or some other financial institution) and makes the loan directly to the student or the
parents through the college. Repayment begins 6 months after graduation or termination of attendance.
Direct Loans are either subsidized or unsubsidized. The federal government pays
the interest on subsidized loans while the student is in school. Eligiblity of a subsidized loan is based on financial need. Unsubsidized loans are available
regardless of financial need, but interest is charged to the student or the parent while the student is in school. The maximum amounts of combined subsidized and
unsubsidized Direct Loans that a freshman may request are as follows:
Dependent student: $2625 per academic year Independent student: $6625 per academic year.
Students who want to apply for a Direct Loan must file a FAFSA and complete a
Request for a Federal Direct Student Loan form, available in the OASIS in Room 217N. All first time borrowers must also complete the entrance loan counseling
requirement. Details are available in the OASIS. The loan will take approximately 14 business days to process and will be issued by check after the college makes any
necessary deductions for tuition and fees.
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