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

2. Sourcesof Financial Aid Federal Grants State Grants & Scholarships Loans Internal Scholarships External Scholarships Federal Work-Study CITY COLLEGE IS 1 I FA Basics

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 CITY COLLEGE IS 2 I FA Basics

4. Have a high school diploma, or equivalent (GED) Enrolled in a degree program U.S. citizen or eligible non- citizen Meet CUNY satisfactory academic progress standards Not in default of a loan/owe money for federal grant Demonstrate Financial Need CITY COLLEGE IS 3 I FA Basics

5. The Free Application for Student Financial Aid (FAFSA)  Complete a 2016-2017 FAFSA (www.fafsa.gov)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) CITY COLLEGE IS 4 I FA Basics

6.  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 CITY COLLEGE IS FAFSA cont’d 5 I FA Basics Follow-up is important!

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 CITY COLLEGE IS 6 I FA Basics

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 CITY COLLEGE IS 7 I FA Basics

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

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 – JobXJobX OR CITY COLLEGE IS Go to:https://ccny.studentemployment.ngwebsolutions.com/https://ccny.studentemployment.ngwebsolutions.com/ 9 I FA Basics

11. Loans: CITY COLLEGE IS  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

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) CITY COLLEGE IS 11 I FA Basics

13.  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 CITY COLLEGE IS Loans cont’d 12 I FA Basics

14. Federal Satisfactory Academic Progress Requirement (SAP) A.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 CITY COLLEGE IS 13 I FA Basics

15. 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) CITY COLLEGE IS 14 I FA Basics Federal Satisfactory Academic Progress Requirement (SAP)

16. Credits Attempted 15 30 45 60 75 90 105 120 135 150 165 180 Required Credits Earned 0516274250 6372 84 95 108 120 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 CITY COLLEGE IS Satisfactory Academic Standards Requirement cont’d 15 I FA Basics

17. TAP is the New York State Tuition Assistance Program which helps eligible New York State residents pay their college tuition. What is TAP ? CITY COLLEGE IS TAP Application The TAP program is administered by the N.Y.S Higher Education Service Corporation ( ) 17 I FA Basics

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

19. 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) TAP Application cont’d CITY COLLEGE IS 19 I FA Basics

20.  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 programAcademic Calendar  Meet good academic standing requirements (see NYS TAP Guidelines)NYS TAP Guidelines  Not be in default of a student loan guaranteed by HESC or on any repayment of state awards. TAP Application cont’d CITY COLLEGE IS 21 I FA Basics

21.  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 officeBursar’s office Note: The Bursar only accepts cash, checks or money orders CITY COLLEGE IS Financial Aid Payment 22 I FA Basics

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

23. Refunds Methods of Receiving FA Refunds 1.Direct Deposit – Payment received in savings or checking account on the disbursement date 2.Check – Allow 5 to 10 business days to receive a refund check in the mail 3.CUNY Scholar Card – Students must receive an email invitation to apply CITY COLLEGE IS Financial Aid Payment cont’d 23 I FA Basics

24.  Scholarship deadlines – vary by specific scholarship  Priority deadline for completing a FAFSA and TAP application is March of 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) Deadlines: CITY COLLEGE IS 24 I FA Basics

25. Scholarships Internal (within the university) External (private organizations) CITY COLLEGE IS 25 I FA Basics

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 CITY COLLEGE IS 26 I FA Basics

27.  Check with local sources – church, parents’ employer, professional organizations, private corporations, and local politicians  Register for free scholarship searches:  www.fastweb.com www.fastweb.com  www.brokescholar.com www.brokescholar.com CITY COLLEGE IS External Scholarships 27 I FA Basics

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

29. CITY COLLEGE IS Resources cont’d or Video: https://www.youtube.com/watch?v=Pn4OECMTh5whttps://www.youtube.com/watch?v=Pn4OECMTh5w 29 I FA Basics

30. 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 Contact CITY COLLEGE IS Financial Aid Office REPLAY END