financial aid information
Decisions regarding how to save money for college, which colleges may be a good fit, whether an alternative to a four-year college may be a better option, plus seeking financial aid, scholarships, and grants can be overwhelming. Please read through the details below and don't hesitate to contact us with any questions. We will do our best to help. Our doors are open!
Governor Hochul letter to HS Seniors FAFSA.pdfFinancial Aid Overview
This video is the live stream presentation given during the High School's Financial Aid Night.
Types of Financial Aid
Grants: A grant is a form of financial aid that doesn’t have to be repaid (unless, for example, you withdraw from school and owe a refund or you receive a TEACH Grant and don’t complete your service obligation). A variety of federal grants are available, including Pell Grants, Federal Supplemental Educational Opportunity Grants (FSEOG), Teacher Education Assistance for College and Higher Education (TEACH) Grants, and Iraq and Afghanistan Service Grants.
Scholarships: Scholarships are awards for financial aid to help students pay for college expenses. Sometimes a scholarship is a one-time check. Sometimes schools offer scholarships that are renewable and provide money for students each semester or school year. These awards differ from student loans in that they don't have to be repaid.
There are a few scholarships that are offered in the fall but majority of the scholarships roll in during the new year. Please visit the "Scholarships" page for more information.
Work-Study: Work-Study provides part-time employment while you are enrolled in school to help pay for your education expenses. Work-study allows you to earn money to pay for school by working part-time at your college or university. If you are awarded work study, check your schools career page for job opportunities.
Loans: When you receive a student loan, you are borrowing money to attend a college or career school. However, there's a catch! You must repay the loan as well as interest that accrues. Interest is the charge for borrowing money, typically expressed as annual percentage rate (APR). Repayment plans vary and there are some loan forgiveness options for certain careers.
Subsidized loans: no interest accrues while you are enrolled in school. The U.S. Department of Education pays the interest on a Direct Subsidized Loan
while you’re in school at least half-time,
for the first six months after you leave school (referred to as a grace period*), and
during a period of deferment (a postponement of loan payments).
Unsubsidized loans: interest accrues while you are enrolled in school - so essentially, you are responsible for paying the interest on a Direct Unsubsidized Loan during all periods (as soon as you take out the loan)
*TRY TO TAKE OUT SUBSIDIZED LOANS BEFORE UNSUBSIDIZED LOANS*
VIRTUAL FINANCIAL AID NIGHTS
St. Joseph’s College: Provided by: Amy Thompson, Director of Financial Aid
Thursday - October 13, 2022 @ 6:30pm - RSVP for this date below!
Wednesday - November 9, 2022
Monday - December 12, 2022
Tuesday - January 10, 2023
Wednesday - February 15, 2023
Please join to learn about the financial aid process, how to apply for aid and how to ensure you are taking advantage of all the available resources to help you pay for college. Parents of all grade levels are welcome!
At this virtual event, you will learn about:
The FAFSA and its function
How to maximize scholarship and grant opportunities
How financial aid offices determine your eligibility
Financial aid in simple terms
CLICK HERE TO SIGN UP FOR ANY OF THE VIRTUAL FIANCIAL AID NIGHTS
Federal Aid & FAFSA
The Free Application for Federal Student Aid (FAFSA) is the form you need to fill out to get any financial aid from the federal government to help pay for college. Almost like Hogwarts' Sorting Hat, it sorts out which students are eligible for what types of financial aid, and how much. The FAFSA asks for information about you and your family’s finances, including tax returns, to help determine how much aid you are eligible for.
FAFSA opens on October 1st (You want to submit this ASAP!). A lot of financial aid is given out by colleges and universities on a first-come-first-serve basis.
*Although the videos linked are associated with St. Joseph's College, the information is universal and can be used with any school.
2020-21 Financial Aid Application Process.mp42020-21 Types of Financial Aid.mp4NYS Tuition Assistance Program (TAP)
Higher Education Services Corporation (HESC) and helps you pay for your tuition. So FAFSA is administered by the federal government, whereas TAP is administered by NYS.
FAFSA is the basis for determining eligibility for TAP aid, meaning that you must fill out FAFSA in order to fill out and receive aid from TAP.
When you get to the FAFSA on the Web Confirmation Page, there will be a link for New York State residents to complete an application for TAP. If you are a NYS resident and did not complete the NYS TAP application after filing your FAFSA, you will receive an email from HESC – usually within three to four days of completing the FAFSA – with instructions on how to complete the TAP on the Web application, provided you selected at least one NYS college on the FAFSA.
Enhanced Tuition Awards (ETA)
The Enhanced Tuition Awards (ETA) program provides tuition awards to students who are New York State residents attending a participating 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.
Understanding Financial Aid Offers
Amy Thompson, Director of Financial Aid at St. Joseph's College, created a video to help you understand the financial aid process a little bit more. Although the presentation is associated with St. Joseph's College, the information is universal and can be used with any school.
2020-21 Understanding Financial Aid Offers and Resources.mp4
Aid for Military Families
Many types of student aid are available to military personnel, veterans, and their families. There are also reserve training programs and scholarships available through most branches of the military.
Over 1,000 colleges participate in Reserve Officers' Training Corps (ROTC) programs.
The Department of Veterans Affairs’ GI Bill offers education benefits for vets, their dependents, and widows.
Children of Iraq and Afghanistan service vets who died in combat after September 11, 2001 qualify for multiple additional education benefits.
Low-interest and no-interest educational loans are also available to military personnel and their families.
Aid for Foster Care Students
While many students receive financial aid from family, to aid students who are unlikely to receive aid from parents or relatives, public and private programs offset the financial burden of higher education.
Educational and Training Vouchers (ETV) for current and former foster care youth are available through the John H. Chafee Foster Care Independence Program (NY State Information: here)
Aid is available to former foster youth up to the age of 21.