1. Financial Aid Presentation
Financial Aid Office
State University of New York at Fredonia

2. FSA ID https://fsaid.ed.gov Sign FAFSA electronically
Only the owner should create a FSA ID
Cannot use the same e- mail address for the student & parent – Need different addresses

3. FSA ID If parent already has a PIN, PIN can be linked at the FSA ID site
Enter PIN, then
click “Verify” OR
Click “Forgot My PIN”

4. Be sure to go to www.fafsa.gov
File the FAFSA as soon as possible after October 1st of each school year.
The on-line FAFSA allows students to list up to 10 colleges.
The paper FAFSA allows only 4 colleges to be listed.
FAFSA used to determine TAP and institutional aid
Processing Time:
Web: 1 week
Paper: 4 weeks
Must file each year as soon as possible after Jan. 1st
Features available on the Web that are not available with the paper FAFSA: i.e.,pre-application worksheet, student eligibility, federal school code search, Estimated EFC automatically calculated upon completion, etc.

5. Should I pay someone to help me find or apply for student financial aid?
FREE help is available
Make sure you are not paying for free information
Know what you are getting for your money
Need more info:
FEDAID

6. IRS Data Retrieval Process
All FAFSA on the Web applicants and the parents of dependent applicants, who indicate that they have filed their federal tax returns prior to completing their FAFSA, will be directed to use the FAFSA-IRS Data-Retrieval process to complete their FAFSA more easily and accurately.

7. IRS Data Retrieval

8. IRS Data Retrieval

9. IRS Data Retrieval

10. FAFSA Confirmation Page
Apply for TAP from the FAFSA confirmation page

11. Apply for TAP
If you miss the TAP link from the FAFSA, go to hours after completing the FAFSA.
Please be aware that the first school code listed on the FAFSA is automatically populated on the TAP application.

12. using Prior-Prior Year Tax Income Data on the FAFSA
For the award year
using Prior-Prior Year Tax Income Data on the FAFSA
With the switch to PPY, students and families will be able to:
File the FAFSA earlier. Under the new PPY system, the FAFSA will be available in October 2018, rather than January 1, 2019, and students can use the PPY’s completed income tax return (2017).
More easily submit a FAFSA. The IRS Data Retrieval Tool (DRT), which allows automatic population of a student’s FAFSA with tax return data and decreases the need for additional documentation, can be used by millions more students and families under PPY, since tax data from two-years prior would be readily available upon application.
Receive earlier notification of financial aid packages. If students apply for aid earlier, colleges can in turn provide financial aid notifications to students earlier, ensuring that students and families have more time to prepare for college costs. Notifying students earlier of their financial aid packages will also leave more time for one-on-one counseling with students and families. 

13. Financial Aid Award Letter

14. SMART TRACK Award Letter

15. Sources of Financial Assistance

16. Tuition Assistance Program (TAP)
Funding levels are determined each year by the NYS budget process
Maximum Grant - $5,165
SUNY Tuition Credit for students who receive a TAP award
Federal Pell Grant
Pell Eligibility is restricted to FAFSA calculated Expected Family Contributions (EFC’s) that are 5,486 or below
Current maximum grant is $6,095 in

17. Federal Work Study Program
Need based
Will not impact Student income portion of EFC calculation
Most likely will not appear on college bill since students will receive a check!
Early FAFSA application is critical at most schools

18. Federal Direct Stafford Loans
Maximum loan amount between the two types for First-Year is $5,500
2 Types
Subsidized Stafford Loan
5.045% /Origination Fee is 1.066%
Based on need
Federal government pays interest while student is in school
Can get up to $3,500 out of the $5,500 max in this type
Unsubsidized Stafford Loan
Not based on need
Student is responsible for interest while in school
Loan cannot exceed cost of education minus financial aid

19. NY-AIMS Award of $500 Eligibility NY State high school graduate
Achieved academic excellence
Top 15%
3.3 GPA or above
Honor Regents diploma or a score of 3 or higher on two advanced placement exams
Based on unmet need
Applications and more information available in May
More information: or Scholarship Unit at

20. 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

21. The Excelsior Scholarship
Effective Fall 2019, eligibility based on 2017 Federal AGI being less than $125K
Award is calculated against annual SUNY/CUNY tuition rate (for SUNY that amount was $6,870 in 1819)
How it works:
Maximum Award equals $5,500, minus any amounts received for TAP, Pell or other scholarships
Remainder of tuition will be covered through a tuition credit paid through SUNY or CUNY
Excelsior Scholarship is a “last $ in” scholarship so it is reduced by:
-federal & state grants (TAP. Pell, SEOG, etc.)
-institutional scholarships
-private scholarships
Must file FAFSA, TAP, and Excelsior Application
“Last Dollar Scholarship”
More information:

22. The Excelsior Scholarship: Eligibility Requirements
Be a resident of New York State
Household federal adjusted gross income does not exceed these limits :
2017/18: $100,000 (based on 2015 tax return)
2018/19: $110,000 (based on 2016 tax return)
2019/20: $125,000 (based on 2017 tax return)
Enroll in a SUNY or CUNY two- or four-year degree program
Take 30 credits per calendar year (including winter and summer terms)
Maintain good academic standing
Excelsior Scholarship is a “last $ in” scholarship so it is reduced by:
-federal & state grants (TAP. Pell, SEOG, etc.)
-institutional scholarships
-private scholarships
Plan to live and work in New York following graduation for the length of time you participate in the scholarship program

23. Enhanced Tuition Award: Eligibility Requirements - provides tuition awards to students who are New York State residents attending a private college located in New York State. Recipients will receive $6,000 through a combination of their TAP award, ETA award and a match from their private college.
An applicant must:
be a U.S. citizen or eligible non-citizen resident of have either graduated from high school in the United States, earned a high school equivalency diploma, or passed a federally approved “Ability to Benefit” test, as defined by the Commissioner of the State Education Department;
have a combined federal adjusted gross income of $100,000 or less, as reported on their family’s 2015 tax return;
be pursuing an undergraduate degree at a participating private college or university located in New York State;
be enrolled in at least 12 credits per term and complete at least 30 credits each year (successively), applicable toward his or her degree program;
if attended college prior to the academic year, have earned at least 30 credits each year (successively), applicable toward his or her degree program prior to applying for an Enhanced Tuition Award;
be in a non-default status on any student loan(s) made under any NYS or federal education loan program or on the repayment of any NYS award;
execute a Contract agreeing to reside in NYS for the length of time the award was received, and, if employed during such time, be employed in NYS.

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25. Alternative Financing Options
Parent Loans for Undergraduate Students (PLUS)
For parents of dependent students
Borrow up to entire cost of college less financial aid
Parent must pass credit check
Fixed Interest Rate 7.595% / Origination Fee 4.264%
Payment Plans
May vary…typically, families spread the direct costs over the semester or year.
Private Loans
Student loan with a co-signer
Interest rate based on credit score and bank rate (Most lenders now offer both a fixed rate and a variable rate product)

26. Appeals Based on Unusual Circumstances
Loss of Income (2017 reported vs 2019)
Medical/Dental expenses NOT PAID by insurance
Death, separation, divorce......
1-Time Fluctuation in Income
Elementary/Secondary Private School Tuition Expenses
Follow the procedures of the Financial Aid Office where student is attending.

27. SUNY Statewide Financial Aid Day
October 13, 2018
&
November 17, 2018
Ask questions about the financial aid application, types of aid and the award process
Some campuses will offer web access to complete FAFSA online
Register at now

28. Questions?