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  Home > Admissions > Financial Aid > Frequently Asked Questions

Financial Aid
Frequently Asked Questions

 

   

  • I’m not eligible for grants and only want to apply for a loan. How do I apply? top

    Federal regulations require that Federal Loan applicants file a FAFSA application to determine eligibility for a Subsidized Federal Family Loan or Unsubsidized Federal Family Loan. A Loan Confirmation Form is also required which is available in The Office of Financial Aid. The FAFSA application must be completed and an electronic record received by the college you plan to attend. Click on the following link to file the FAFSA application: http://www.oldwestbury.edu/admissions/financial.cfm#F01


  • What’s the difference between a subsidized and unsubsidized loan? top

    You must demonstrate “financial need” to qualify for a subsidized loan which is determined by a federal needs analysis devised by Congress based on the information you and your family provide on the FAFSA application. The Federal government pays the interest for student recipients that maintain at least half-time status. Subsidized loans cannot exceed “financial need.”

    You may borrow beyond “financial need” or receive a federal student loan if you don’t demonstrate “financial need” in the form of an unsubsidized loan. You are responsible for the interest which can be capitalized or paid while attending school.


  • How do I become an independent student? top

    For the 2005-2006 academic year, you’re considered an independent student ONLY IF at least one of the following criteria applies to you:

    You were born before Jan. 1, 1982.
    You will be enrolled in a master’s or doctorate program (beyond a bachelor’s degree) at the beginning of the 2005-2006 school year.
    You’re married as of the day you apply (or you’re separated but not divorced).
    You have children who receive more than half their support from you.
    You have dependents (other than your children or spouse) who live with you and who receive more than half their support from you at the time you apply and through June 30, 2006.
    Both your parents are deceased, or you are (or were until age 18) a ward or dependent of the court.
    You’re a veteran of the U.S. Armed Forces. (A veteran includes students who attended a U.S. service academy and who were released under a condition other than dishonorable. For more detail on who is considered a veteran, see the explanatory notes on the FAFSA.

    If none of these criteria applies to you, you’re considered dependent.


  • I applied for Financial Aid at another college. How do I transfer the aid to The College at Old Westbury? top

    Federal Aid &mdash you can go online to http://www.fafsa.ed.gov and make changes with your P.I.N. number by adding our college. The College at Old Westbury’s federal code is 007109 or call The Federal Student Aid Information Center at 1-800-4-FED-AID (1-800-433-3243). If you call, you must have your Data Release Number(DRN) which appears in the lower left hand corner of your Student Aid Report.

    State Aid(T.A.P.) &mdash you can go online to https://web.hesc.org/hescpub/main?target=renderer_change_coll_addr&select=1 to add our college by changing the college code. The College at Old Westbury’s college code is 0965. You can only list one college.

  • What is the deadline date to apply for financial aid at SUNY College at Old Westbury? top

    Fall 2006-Spring 2007
    Financial Aid Workshops Applications March 2006
    File F.A.F.S.A./Renewal Applications April 15, 2006
    Submit all Documents May 13, 2006
    Spring 2006 Entry
    File F.A.F.S.A./Renewal Applications October 2006
    Submit all Documents December 2006

    Allow 2 weeks for processing after submitting all required documents.


  • Are scholarships available? top

    In addition to state and federal aid programs, students of The College at Old Westbury can take advantage of an array of scholarship opportunities. Whether to help cover tuition, housing, or travel, the College itself and the Old Westbury College Foundation, Inc. work together to help you explore every option for getting the money you need to attend Old Westbury. Use the links below to see what options are available for you from the College and other sources:

    http://www.oldwestbury.edu/academics/scholarships.cfm
    http://fastweb.monster.com/
    http://www.finaid.org/scholarships/
    http://www.students.gov/STUGOVWebApp/SG_Ctrl?Topic=0201


  • How do I check on the status of my financial aid? top

    Once all documents are received, you will receive a Financial Aid Award letter listing the financial aid you are eligible for. You must review and accept or decline the aid by signing the award letter and submitting a copy to the Office of Financial Aid by the specified date.

    You may check your status via the Student Information System online if you are a registered student at: https://owsis.oldwestbury.edu/pls/prod/twbkwbis.P_WWWLogin You must have your Old Westbury College i.d. number and p.i.n. number available.

    You may also contact your Financial Aid Advisor. For a complete list of advisors, please click here

 



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