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Financial Aid

Financial Aid Programs and Award Ranges 

Federal Pell Grant

This is a grant for undergraduates enrolled in an eligible degree or certificate program. Eligibility is determined by the Federal Needs Analysis Methodology.  Students must annually complete the Free Application for Federal Student Aid (FAFSA).  Awards range from $609 - $5,550.

Federal Supplemental Educational Opportunity Grant (SEOG)

This is a grant administered by the college which is awarded to students who have received a Pell Grant and have financial need. Awards range from $300 - $1,000.

Federal Work-Study Program

These awards are allocated based on availability of funds to students demonstrating financial need. Awards range from $500 - $1,400.

Federal Perkins Loan

This is a 5% loan administered by the college which is awarded to a student who has demonstrated financial need. Awards range from $300 - $4,000.

Federal William D. Ford Direct Subsidized Loan

This direct loan allows eligible students to borrow up to $3,500 per year for first-year students directly through the federal government.  Second-year students (with a minimum of 28 degree credits earned) may borrow a maximum of $4,500 per year.  The actual amount of the loan is determined by a student's financial need and cost of education.  Repayment begins six months after the student ceases to be at least a half-time student.

There are no interest charges until the repayment period begins.  Effective July 1, 2011, the interest rate is fixed at 3.4%.

Federal William D. Ford Direct Unsubsidized Loan

This is a loan for students who are not eligible to borrow the maximum Federal Direct Loan or who need to borrow in excess of the maximums if eligible.  Eligibility is based on the student's cost of attendance minus other financial aid not financial need.  Interest accrued while enrolled in college is the student's responsibility.

The interest rate is fixed at 6.8%.  Dependent students may apply for an additional $2,000 and independent students may apply for an additional $6,000 in this loan but cannot exceed the difference between the student’s budget and other aid.

Federal William D. Ford Direct Parent Loan for Undergraduate Students (PLUS)

Parents may borrow up to the cost of attendance minus other aid.  The interest rate is fixed at 7.9%.

NYS Tuition Assistance Program

This is a New York State grant based on NYS net taxable income and tuition charges. Sullivan awards range from $500 - $4,180.