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Who Can Apply

StudentMost of the financial aid available to students comes from the federal or state governments and is funded by taxpayer dollars. Generally, to be eligible to receive federal and state financial aid, a student must:

• Be a U.S. citizen or a permanent resident of the United States
• Demonstrate financial need
• Not be in default of any type of educational loan sponsored by the state or federal government (Title IV), or be in an overpayment status on a federal grant
• Be in good academic standing
• Meet deadline dates
• Register for a minimum of 12 credits (or a minimum of 3 for Federal Pell Grants or 6 for the Federal Direct Student Loan Program)
• Has not exceeded 600% of Pell Grant eligibility

New York State’s TAP Program also requires that students (and parents) be New York State residents for a minimum of one year prior to the year in which they apply for the TAP award.

Health Professions Student Loans are available to students majoring in the PROF career (pharmacy) and who provide parental financial information on their FAFSA (regardless of their own dependency status).

Demonstrating financial need is a major factor in receiving grants from all sources. The “family income” (student and parents) as provided on the FAFSA or Renewal FAFSA, is put through something called a “needs analysis” by the federal government, and this results in an “Expected Family Contribution” (EFC). The needs analysis used by the federal government is dictated by regulation and includes viewing the family income according to the number of family members, number of family members in college, the assets that are listed on the FAFSA, and the age of the older parent, etc. It is a uniform needs analysis and is used throughout the United States.

The “EFC” is used to determine financial need. The EFC is subtracted from the student’s cost of education and the balance is considered “financial need.” For example, if the cost of education (which is provided on the financial aid award notice) is $25,000, and the EFC is $2,000, the student’s financial need is $23,000.

Cost of Education $25,000
Minus EFC $2,000
Financial Need $23,000

For an example of an average annual cost of attendance budget for the typical academic year for an undergraduate student, visit Budgeting and Planning Ahead.

When Integrated Student Financial Services considers a student for financial aid funding, the financial need that is determined in the above formula drives the amount that may be awarded. For more information, visit Financial Aid Packaging and Awarding.