1. OpInform
2017
Laying the Groundwork for Student Success: Financial Aid at SUNY

2. Topics Excelsior Scholarship Change to FAFSA Process The Basics
The Makings of a Financial Aid Package
How Financial Need is Determined
Best Practices
Reviewing Award Letters
Resources
SUNY Smart Track
Resources for Undocumented Students
SUNY Financial Aid Days

4. Excelsior Scholarship
Administered by HESC
Awards are limited to length of program (2-year, 4-year, approved 5-year)
Last dollar
Combined awards (Pell, TAP, Tuition credit, other tuition specific or full COA aid) equal $5,500
SUNY/CUNY covers the remaining tuition

5. Excelsior Scholarship
Excelsior Scholarship recipients are charged the tuition rate for length of attendance, provided they remain Excelsior- eligible
Tuition rate for recipients resets after four years
Non-recipients are charged current tuition rate

6. Excelsior Scholarship
General Award Eligibility Requirements
NYS Resident
U.S. Citizen or eligible noncitizen
High school diploma, recognized equivalent or ATB
Matriculated full-time in an approved program of study
Additional Excelsior Requirements
Attend a public institution
Meet income requirements
Successfully complete (earn) 30 credits each year

7. Excelsior Scholarship
New Students
Enroll in 12 credits applicable to program(s) in first term
Earn 30 credits each year of enrollment
Transfer students
Earned 30 credits each year of enrollment
Credits must be accepted by the new campus
Credits must be applicable to the program of study

8. Excelsior Scholarship
Matriculated students must be enrolled in consecutive terms to maintain eligibility:
365 days to complete and earn 30 credits
Interruptions of study for hardship cases, pre-approved leave of absence
Summer and winter terms can be used to meet credit requirement (no Excelsior funds for these terms)

9. Excelsior Scholarship
Non-credit courses don’t count toward credit requirement
EOP student requirement - total 24 credits per year
ADA student - no credit requirement (same as TAP)
AP/IB courses can be used to meet credit requirement

10. Excelsior Scholarship
Excelsior Application
Released on June 7, 2017
Deadline for submission: July 21, 2017
Deadline for submission for 2018: ?
HESC will process information through general requirements and verify income with NYS Tax and Finance
HESC obtains signed service agreement from student

11. Excelsior Scholarship
Reside in NYS post graduation/attendance equal to the number of annual awards received
Can meet residency requirement
While in military, regardless of station, as long as they maintain NYS residency
While completing undergraduate or graduate studies (including medical residency) in- state
Can defer residency requirement
While completing undergraduate or graduate studies (including medical residency) out-of-state
For hardship or other HESC approved circumstance
Cannot work outside of NYS during residency period

12. Excelsior Scholarship
Reverts to an interest-free 10-year loan if post-graduation/attendance requirement is not met
HESC has responsibility to track students

13. Change to
FAFSA Process

14. Change to FAFSA Process
IRS Data Retrieval Tool for FAFSA will be available in October
Students will not be able to view information transferred using the IRS Data Retrieval Tool

15. What Makes up a Financial Aid Package?

16. What Makes Up a Financial Aid Package?

17. What Makes up a Financial Aid Package?
Grant Programs
PELL Grant
Must have an EFC between $0-$5,300
Max. Award $5,920
NYS TAP Grant
Based on NYS net taxable income
Max. Award $5,165

18. What Makes up a Financial Aid Package?
Scholarship Programs
Private scholarship search
At your college of interest
Free internet scholarship searches
Local library resources
Local businesses and civic organizations (including professional associations) related to student's field of interest
Student’s employer
Parents’ employers/unions

19. What Makes up a Financial Aid Package?
Federal Work Study
Based on financial need
Traditionally on-campus employment
Usually 12 to 15 hours per week

20. What Makes up a Financial Aid Package?
William D. Ford Direct Loans
Subsidized
4.45%
Capped at 8.25%
Based on need
Federal government pays interest while student is in school
$3,500 for freshmen
Unsubsidized
4.45%
Capped at 8.25%
Not based on need
Maximum Direct Loans for freshmen: $5,500

21. What Makes up a Financial Aid Package?
Parent Loans for Undergraduate Students (PLUS)
For parents of dependent students
Borrow up to entire cost of college less financial aid
No adverse credit (parent must pass credit check)
Interest rate 7%
Capped at 10.5%
Time Payment Plans
May vary…typically, families spread the direct costs over the semester or year.

22. Other Aid

23. SUNY State-Operated Campuses 2017-2018 TEACH Grant
Other Aid
SUNY State-Operated Campuses TEACH Grant
Up to $4,000 per year
For students who intend to teach:
A high-need field
Students of low-income
Four-year service contract
More information:

24. STEM Incentive Program
Other Aid
STEM Incentive Program
Tuition scholarship at SUNY or CUNY
Eligibility
Need to graduate in top 10% of high school class
Need to study in STEM Field
Need to maintain a 2.5 average
Five-year service contract to work in NY state in a STEM field
More information: or Scholarship Unit at

25. NYS “Get on your Feet” Loan Forgiveness Program
Other Aid
NYS “Get on your Feet” Loan Forgiveness Program
Offers up to 24 months of federal student loan debt relief equal to student’s monthly student loan repayment amount as established under the Income-Based Repayment plan, the Pay As You Earn plan, or the Revised Pay As You Earn plan.

26. Other Aid NYS “Get on your Feet” Loan Forgiveness Program Eligibility
Reside in NYS for 12 continuous months
Be a U.S. citizen or eligible noncitizen
Graduated or received a NYS HS equivalency diploma
Earned an undergraduate degree from a college or university located in NYS in or after
Have a AGI of less than $50,000
Enrolled in the federal IBR plan or Pay as You Earn plan
If employed, primary work location in NYS 

27. Other Aid NYS “Get on your Feet” Loan Forgiveness Program Eligibility
Current on all federal or NYS student loans
Current on the repayment of any NYS award
Be in compliance with the terms of any service condition imposed by a NYS award
Earned no higher than a bachelor’s degree at the time of application
Apply within 2 years of receiving an undergraduate degree

28. How is Financial Need
Determined?

29. How is Financial Need Determined?
Estimated Family Contribution (EFC) is determined by:
Parents’ income and assets - primary home value excluded
Student’s income and assets
Size of family
Age of parents
Number of children in college
Cost of Attendance minus EFC = Need

30. Best Practices

31. Best Practices Discussing Financial Aid at Family Meetings

32. Best Practices Reviewing Award Letters

33. SUNY Smart Track Award Letters

34. Breaking Down a SUNY Smart Track
Award Letter

35. Breaking Down a SUNY Smart Track
Award Letter

36. Breaking Down a SUNY Smart Track
Award Letter

37. Breaking Down a SUNY Smart Track
Award Letter

38. Breaking Down a SUNY Smart Track
Award Letter
College Overview Section:
Graduation rate
Loan repayment rate

39. Breaking Down a SUNY Smart Track
Award Letter
College Overview Section:
Median borrowing
Repaying loan information
School contact information

40. Resources

41. SUNY Smart Track

42. SUNY Smart Track Specifically designed for high school students
Take courses on financial literacy
Guides students on creating a plan of action for each grade
Allows students to explore careers
Provides information on financial aid and the Excelsior Scholarship
True cost calculator
Free

43. SUNY Smart Track

44. SUNY Smart Track

45. SUNY Smart Track
Educator Toolkits at suny.edu/counselor

46. Resources for Undocumented Students
suny.edu/attend/
get-started/ undocumented

48. QUESTIONS?