Financial Aid

Understanding Your Student's Financial Aid and Award Letter

Where to Start

FAFSA Application (FAFSA.ed.gov)

• Must be a US Citizen or eligible Non-Citizen

• Remember to add our school code for the 2020-21 FAFSA by making a correction (002838)

• Federal Pell Grant, Federal Work-Study, Federal Stafford Loans, Federal Parent PLUS Loan

NYS Applications (HESC.ny.gov)

• Must be a NY State Resident

• Remember to change the spring term school code in include Stony Brook University (0875)

• Several Grants and Scholarships available: TAP, Excelsior, STEM, AIMS

• Completing the FAFSA will allow the financial aid office to determine your eligibility for federal student aid such as: "Pell, etc..."

Direct Costs

• These costs are billed to you by Stony Brook University

• Includes: Tuition, Fees, Room and Board for on-campus Students

Indirect Costs

• These are expenses you may incur while enrolled. You are not billed for these charges and they do not appear on your bill. These costs can vary from student to student.

• Includes: Books and Supplies, Transportation, and Other educational costs

Cost of Attendance (COA)

Cost of Attendance includes all Direct and Indirect Costs to the University. This does not reflect actual charges you will have during the school year, but estimates your overall cost for the year.

Filling the Gap Between Your College Expenses and Financial Aid Awards

Cost & Filling the Gap

Your financial aid may not cover all the expenses that you may incur while attending classes.

• Payment Plans

  • (TOPP) Program that allows you to make equal and consecutive monthly payments towards your semester balance. Enrollment in the program will allow for your payments to be distributed equally over three or four months, depending on when you enroll

• Loan Options

• Federal Parent PLUS Loan and Private Educational Loans (for private loans, see this preferred lender list)

Grants vs. Loans

Grants are considered Gift Aid that does not have to be paid back

• Grants include: PELL, TAP, SEOG, University Merit Awards

Loans need to be repaid to the lender along with any accrued interest

• Loans include: Federal Subsidized and Unsubsidized Stafford Loans, Parent PLUS, Private Loans

Federal Loans

Federal Direct Subsidized Stafford Loans

• Need-based federal loan available to undergraduate students who are enrolled at least half-time (6 credits per semester). Interest begins accruing once you graduate or drop below 6 credits.

Federal Direct Unsubsidized Stafford Loans

• Loan available to students who are enrolled at least half-time (6 credits per semester). You are responsible for the interest during the life of the loan. Interest begins to accumulate from the date of the first loan disbursement.

Federal Direct Parent PLUS Loan

For further information, see the Parents section of our website www.stonybrook.edu/commcms/finaid/parents/

• Loan funds are available to parents for their dependent, undergraduate students who are matriculated in a degree program and enrolled in at least six (6) credits. Parents of dependent students may borrow up to the cost of attendance minus any other aid. Borrowers must have an acceptable credit history, or may reapply with an endorser (someone who agrees to repay the loan if you do not pay it) with an acceptable credit history.

Denied the PLUS Loan?

The parent will receive notification from the federal government as to the credit decision. Credit decision is instant.

If denied, the parent can add an endorser to the application. If the parent does not want to provide an endorser the student will be offered an additional unsubsidized loan in the amount of $4,000 or $5,000 for the year based on their grade level. Information on all federal loans can also be found on studentaid.gov along with our university website.

Federal Satisfactory Academic Process (FedSAP)

In order to remain eligible to receive federal financial aid, students must continue to meet these guidelines

• Maintain a minimum cumulative GPA of 2.0

• Must earn 67% of the credits they attempt cumulatively

• No longer eligible to receive federal aid once they have attempted 150% of the credits required to complete their degree

  • 120 credit program must be completed by the time the student has attempted 180 credits

Additional Information can be found on our Federal SAP page on our website

Contacting the Office

Please note, the student or parent(s) listed on the FAFSA would be the only individuals our office can speak with about a student's record.

(631) 632-6840

finaid@stonybrook.edu

The student or custodial parent are the only persons our office can speak to about a student’s financial aid account.

Custodial Parent – The parent or parents who are listed on the FAFSA Application.

Review your Solar To Do List for any documents requested for financial aid.