Types of Financial Aid
Federal Pell Grant (FPELL) is an award to help first-time undergraduates pay for their education after high school. A first-time undergraduate is one who has not earned a bachelor's or first professional degree. The award based on financial need rather than academic achievement. You must be a U.S. Citizen or a Permanent Resident who meets income criteria in order to qualify for a Federal Pell Grant.
To be eligible for Title IV Assistance, an applicant must meet the following general eligibility requirement:
Be enrolled or accepted for enrollment at a college
Be a matriculated student at a college
Must have a high school diploma or a GED
Meet enrollment status requirements
Be a US citizen or eligible non-citizen
Must not be in default on a Title IV student loan borrowed for attendance at any institution
Be registered with the Selective Service System
Must not have borrowed in excess of Title IV loan limits
Must not owe a repayment on a Title IV grant of scholarship received for attendance at any institution
Must maintain satisfactory academic progress
Tuition Assistance Program (TAP) is a New York State education grant which helps full-time students meet their tuition costs. You must be a U.S. Citizen or a Permanent Resident, who has lived in the State of New York for at least one year prior to the first term for which you are seeking payment. You must also meet certain income and enrollment criteria.
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City University Supplemental Tuition Assistance (CUSTA) is a City University administered program to assist students who experience a reduction in their TAP award in their 5th semester of TAP eligibility. To be eligible for the CUSTA award, students must be:
Aid For Part Time Student (APTS) is a New York State tuition grant for part-time students who are a U.S. Citizen or a Permanent Resident, you must have lived in the State of New York for at least one year prior to the first term for which you are seeking payment. You must meet certain income criteria and must be enrolled for at least six (6) credits but fewer than twelve (12)
Federal Work-Study (FWS) is a program that provides part-time jobs to students who need additional financial aid. Jobs are available both on and off campus. You can apply for Federal Work Study by indicating YES on question #31 on your FAFSA on the Web.
Federal SEOG (FSEOG) is a grant which assists exceptionally needy students and is intended to supplement other forms of financial aid. A student is not required to repay this grant.
Search For Evaluation, Education And Knowledge (SEEK) Program is a program which provides higher education opportunity for educational and economical disadvantaged students. Students are provided with specialized counseling, tutorial services, academic instruction, and an additional financial aid stipend for books and fees. Requirements for eligibility are on the Freshmen Application for Admissions.
Federal Perkins Loan (FPL) is a low interest loan awarded by CUNY to students who demonstrate financial need. The current interest rate is 5 percent. Perkins loan recipient must complete an entrance interview before receiving the loan check and an exit interview prior to separation from the college. You must start repaying this money nine (9) months after graduation, or if you drop to less than (6) credits or if there is termination of attendance. This loan is not available to Freshmen.
William D. Ford Federal Direct Loan Program provides federally insured, low interest, long term loans to students in order to help cover the costs of attending college. The Federal Government is the lender of this loan thereby allowing the students to obtain it directly through the college. Students who want to apply for a Direct Loan must first file a FAFSA application. There are two types of Direct Loan: (1) Subsidized - the federal government pays the interest while the student is in school; eligibility is based on financial need. (2) Unsubsidized - Available regardless of financial need. Interest is charged to the student while he/she is in school. An entrance and exit counseling interview, is required. Repayment begins six (6) months after graduation, or if you register for less than (6) credits or if there is termination of attendance.