Federal Student Financial Aid

1. If you are pursuing an undergraduate level program of study but are registered for graduate level courses;
2. If you are pursuing a graduate level program but are registered for undergraduate level courses (unless these courses have been approved by your academic advisor as preparatory coursework and the Office of Financial Aid has been notified).

Pell Grant: Pell Grants are the foundation of federal student financial aid, to which aid from other federal and nonfederal sources might be added. Pell Grants are generally awarded only to undergraduate students — those who haven’t earned a bachelor’s or graduate degree. Amounts change yearly.

Federal Supplemental Educational Opportunity Grant (FSEOG): FSEOGs are awarded to undergraduate students with exceptional financial need—those with the lowest Expected Family Contribution (EFC) numbers. Federal Pell Grant recipients receive priority for FSEOG awards.

Federal Work-Study Program: Under the FWS Program, you can work part-time to earn money for your education. The FWS Program provides part-time employment while you are enrolled in school, helps pay your educational expenses and is administered by schools participating in the FWS Program. If you are eligible and accept FWS, pleae be aware that hourly wages are paid directly to students and cannot be directly applied against instituitional charges.

We strongly recommend that you get started in your job search as soon as possible once you arrive on campus. More than 500 students seek work-study employment each year. Contact the Office of Student Employment immediately at 516.686.7527 or e-mail.

Federal Perkins Loans: This loan is available through participating schools to undergraduate, graduate and professional degree students. They are offered by participating schools to students who demonstrate financial need. It is made to students enrolled full-time. This loan is repaid by you to your school.

Federal Subsidized Stafford Loan: This loan is available to students who demonstrate financial need. The U.S. Department of Education pays the interest while you’re in school at least half-time, for the first six months after you leave school, or during a period of deferment (a postponement of loan payments). Students must be registered for at least six credits in their academic level and academic program. The amount of your subsidized loan cannot exceed your financial need.

Federal Unsubsidized Stafford Loan: This loan does not require students to demonstrate financial need. The U.S. Department of Education does not pay interest on unsubsidized loans. You’re responsible for paying the interest that accrues on the loan from the time the loan is disbursed until it’s paid in full. Depending on your financial need, you may receive both subsidized and unsubsidized loans for the same enrollment period, but the total amount of these loans may not exceed the annual loan limit. You can pay the interest while you’re in school or during a period of deferment or forbearance. Or, you can allow the interest to accrue (accumulate) and have the interest added to the principal amount of your loan. Students must be registered for at least six credits in their academic level and academic program.

Federal Parent PLUS (Parent Loan for Undergraduate Student) Loan: PLUS applicants must meet the general eligibility requirements for federal student financial aid. If a parent is borrowing on behalf of a dependent undergraduate student, the student must also meet these general eligibility requirements. For example, the PLUS applicant and the student must be a United States citizen or eligible noncitizen, not be in default on a federal student loan, and not owe a refund on a federal education grant. A PLUS Loan applicant must not have an adverse credit history. (A credit check will be conducted.) A PLUS Loan applicant who has an adverse credit history still may be able to receive a loan by documenting existing extenuating circumstances or by obtaining an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the loan if the borrower fails to do so. Students must be registered for at least six credits in their academic level and academic program.

Federal Graduate PLUS Loan: The law now allows graduate and professional degree students to borrow from the PLUS program. The terms and conditions applicable to parent PLUS Loans (made to parents of dependent students) also apply to PLUS Loans made to graduate and professional degree students. Students must be registered for at least six credits in their academic level and academic program.