The Office of Financial Aid is dedicated to providing quality, personable
services to all applicants to assist them in funding their college education.
An extensive
network of services and resources are offered to help applicants with the financial
aid process.
Individuals who have expressed an interest in attending SUNY
College at Old Westbury and applying for financial aid are assigned a Financial
Aid Advisor. Financial
Aid Advisors help students apply for financial aid and develop financial
aid awards tailored to meet four years of college expenses. We participate
in federal,
state and local aid programs that help make education affordable for all
students.
If you are interested in attending but worried about costs, we encourage you
to apply for financial aid. More than half of Old Westbury students and their
families receive financial assistance in the form of grants, loans, scholarships
and student employment.
Even if you do not qualify for federal or state grants,
there are additional financing options available that can help you meet our
costs. The staff of
the Office of Financial Aid is available to answer your questions and to
assist you
in making Old Westbury an affordable choice.
How to Apply for Aid top
Applicants interested in applying for federal, state and/or local student
financial assistance (grants, loans, scholarships and student employment opportunities)
may utilize the following links or contact the Office of Financial Aid by calling
(516) 876-3222/ 3223 or finaid@oldwestbury.edu for a "specific year" Financial
Aid Packet. All of the required applications must be completed by suggested
deadline dates.
The Office of Financial Aid requires the following documents
to be submitted and/or filed by all applicants:
Deadlines top
| Fall
2007 Entry |
| Register/Financial Aid Workshops |
February
2007 |
| Financial Aid Workshops |
March
2007 |
| File F.A.F.S.A./Renewal Applications |
April
16, 2007 |
| Sumbit all Documents |
May
11, 2007 |
| |
| Spring
2008 Entry |
| File F.A.F.S.A./Renewal Applications |
October
2007 |
| Submit all Documents |
Dec.3,
2007 |
Cost
of Education Budget for 2007-2008 top
Your Cost of Education is the sum of your actual tuition and fees; the cost
of room and board (or living expenses for students who choose to not live
on campus); the cost of books, supplies, and miscellaneous expenses; and an
allowance
for transportation. Cost of Education is composed of three budget groups
(Resident Students, Dependent Commuters and Independent Commuters).
| |
|
Tuitions and Fees |
| |
|
Year |
Semester |
Per-Credit |
| Tuition |
|
$4,350.00 |
$2,175.00 |
$181.00 |
| College Fee |
|
$25.00 |
$12.50 |
$0.85 |
| Student Govt. Fee |
|
$126.00 |
$63.00 |
$41.50* |
| Athletic Fee |
|
$256.00 |
$128.00 |
$64.00* |
| Health Fee |
|
$180.00 |
$90.00 |
$7.50 |
| Technology Fee |
|
$240.00 |
$120.00 |
$10.00 |
| Total |
|
$5,177.00 |
$2,588.50 |
$304.85 |
| *Out
of State |
|
$11,431.00 |
$5,715.50 |
|
| |
|
FULL-TIME RESIDENT |
| |
|
Year |
Fall
2007 |
Spring
2008 |
| Tuition and Fees |
|
$5,177.00 |
$2,588.50 |
$2,588.50 |
| Room |
|
$6,100.00 |
$3,050.00 |
$3,050.00 |
| Board |
|
$2,700.00 |
$1,350.00 |
$1,350.00 |
| Books & Supplies |
|
$800.00 |
$400.00 |
$400.00 |
| Transportation |
|
$750.00 |
$375.00 |
$375.00 |
| Personal/Misc. |
|
$1,210.00 |
$605.00 |
$605.00 |
| Total |
|
$16,737.00 |
$8,368.50 |
$8,368.50 |
| Direct Cost |
|
$13,977.00 |
$6,988.50 |
$6,988.50 |
| |
|
FULL-TIME DEPENDENT COMMUTER |
| |
|
Year |
Fall
2007 |
Spring
2008 |
| Tuition and Fees |
|
$5,177.00 |
$2,588.50 |
$2,588.50 |
| Room** |
|
$2,090.00 |
$1,045.00 |
$1,045.00 |
| Board** |
|
$404.00 |
$202.00 |
$202.00 |
| Books & Supplies |
|
$800.00 |
$400.00 |
$400.00 |
| Transportation |
|
$1,675.00 |
$837.50 |
$837.50 |
| Personal/Misc. |
|
$990.00 |
$495.00 |
$495.00 |
| Total |
|
$11,136.00 |
$5,568.00 |
$5,568.00 |
| Direct Cost |
|
$5,177.00 |
$2,588.50 |
$2,588.50 |
| **Living expense allowance for those who choose to commute from home |
| |
|
FULL-TIME INDEPENDENT COMMUTER |
| |
|
Year |
Fall
2007 |
Spring
2008 |
| Tuition and Fees |
|
$5,177.00 |
$2,588.50 |
$2,588.50 |
| Room** |
|
$5,428.00 |
$2,714.00 |
$2,714.00 |
| Board** |
|
$1,155.00 |
$577.50 |
$577.50 |
| Books & Supplies |
|
$800.00 |
$400.00 |
$400.00 |
| Transportation |
|
$1,675.00 |
$837.50 |
$837.50 |
| Personal/Misc. |
|
$1,100.00 |
$550.00 |
$550.00 |
| Total |
|
$15,335.00 |
$7,667.50 |
$7,667.50 |
| Direct Cost |
|
$5,177.00 |
$2,588.50 |
$2,588.50 |
| **Living expense allowance for those who choose to commute from home |
| |
|
Independent Commuter
Dependent Child Care
Expenses |
| |
|
First Child |
$2,400.00 |
|
| |
|
Two or More
Children |
$4,800.00 |
|
***ALL CHARGES SUBJECT TO CHANGE WITHOUT NOTICE***
Determining Financial Need top
Financial aid is meant to assist families in paying for a college education.
The information you report on your FAFSA (Free Application for Federal Student
Aid) is used to calculate your Expected Family Contribution (EFC), which is
a measure of your family's ability to pay for your college education.
The EFC also determines your eligibility for a Pell grant, Campus Based Aid
(Supplemental Educational Opportunity Grant, College Work Study) and Federal
Student Loans(Subsidized and/or Unsubsidized). The formula for the EFC is established
by Congress.
Your Financial Aid Advisor determines your need by subtracting the EFC from
the Cost of Education and uses the information required on your FAFSA to develop
a financial aid package.
When a financial aid award package is developed by your Old Westbury Financial
Aid Advisor, you will receive an award letter that you must sign and return
within 10 days.
Components of a Financial Aid Award top
Financial aid opportunities at Old Westbury can include:
GRANTS (Financial
aid you don't have to pay back)
Federal Pell - available to undergraduate
students only and based on need. Annual awards range from $250-$4050 for
2004-2005
Federal Supplemental Educational Opportunity Grant (S.E.O.G.) - available
to undergraduates with exceptional need. Priority is given to Federal Pell
grant recipients. Funds are limited and awarded to qualified students that
meet
established deadline dates
Federal College Work Study Program (C.W.S.P.) - available
to students that demonstrate need. Funds are limited and awarded to qualified
students
that meet established
deadline dates. Money is earned while attending school.
Tuition Assistance Program (T.A.P.) - available to New York
State eligible undergraduate, full-time, matriculated students to help meet
tuition
charges.
Aid for Part-Time Study (A.P.T.S.) - provides assistance
to eligible part-time undergraduate students in approved programs to help meet
tuition charges.
Educational Opportunity Program (E.O.P.) - provides
academic support and financial aid to students who show promise for mastering
college-level
work, but who
may otherwise not be admitted. Offered primarily to full-time
students who are New York State residents, EOP accepts students who qualify,
academically
and financially, for the program.
LOANS (Borrowed financial aid that must be repaid with interest) top
Federal
Perkins Loan - federal loans awarded by SUNY College at Old Westbury
based on need. The current interest rate is 5%. Funds are limited and awarded
to qualified students that meet established deadline dates
Federal Stafford
Loan (subsidized and/or unsubsidized) - loans funded by the
federal government. Subsidized Loans-students must demonstrate need. The
U.S. Department of Education pays interest while the borrower is in school(registered
at least half-time) and during grace and deferment periods. Unsubsidized
Loans-no
requirement to demonstrate need and borrower is responsible for interest
during the life of the loan
SCHOLARSHIPS (More financial aid you don't have to pay back!) top
Scholarships
provide financial assistance based on merit and/or need that does not have
to be repaid. An array of scholarships are made available by both
SUNY College at Old Westbury and The Old Westbury College Foundation, Inc.
For further information on those scholarships available, click here or call (516) 876-3135 for a current list of scholarships
and information.
Academic Standards for Continued Financial Aid Eligibility top
To
remain eligible for Title IV federal aid, students must meet the College's
criteria for good academic standing and maintain satisfactory progress toward
a degree. The criteria for good academic standing and satisfactory progress
toward a degree are outlined in the college catalog under the heading Academic
Standing. Students who fail to meet these criteria may, through the Academic
Standing Committee, appeal for reinstatement to the College.
To remain eligible for state aid, students must fulfill conditions of pursuit
and progress outlined in the college catalog under the heading Academic Standards
for Continued Financial Aid Eligibility. Students who fail to meet these criteria
may request a one time state waiver. Students must document specific reasons
for not meeting the conditions of pursuit and progress.
Alternative Financing Options top
Alternative financial resources are available at SUNY College of Old Westbury
to help students and their families meet full educational costs. Three of the
programs most used by Old Westbury students and their families are described
below.
Time Payment Plan: SUNY College at Old Westbury
has a convenient and affordable way for students and parents to pay their educational
expenses. This plan allows tuition and fees to be paid in two (2) equal installments
each semester. Payments for the Fall semester begin in August, payments for the Spring
Semester begin in December. There is a nominal cost for this program, please contact
the Bursar's Office (516) 876-3168 for additional information.
Federal
PLUS Loan
This
federally
funded
program
enables
parents
of
undergraduate
students
to
borrow
through
banks
and
other
participating
lenders
up
to
the
cost
of
attendance
minus
financial
aid
to
help
pay
college
expenses.
Information
regarding
PLUS
loans
is
available
on
request
from
the
Office
of
Financial
Aid
or
from
area
lending
institutions.
Alternative Loans top
Private
Loans,
also
known
as
Alternative
Loans,
help
bridge
the
gap
between
the
actual
cost
of
your
education
and
the
limited
amount
the
government
allows
you
to
borrow
in
its
programs.
Private
loans
are
offered
by
private
lenders
and
there
are
no
federal
forms
to
complete.
Information
regarding
private
loans
can
be
obtained
from
area
or
national
lending
institutions. It
is
strongly
recommended
that
you
notify
your
Financial
Aid
Advisor
of
the
final
outcome
of
such
loans,
in
person,
during
walk-in
schedules.
Scholarships top
In addition to state and federal aid programs, students of SUNY College at Old
Westbury can take advantage of an array of scholarship opportunities. Whether
to 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:
Graduate Students top
Prospective graduate students interested in applying for federal, state and/or
local student financial assistance (grants, loans and scholarships) must contact
the Office of Financial Aid by calling (516) 876-3222/3223 or finaid@oldwestbury.edu
for a "specific year" Financial Aid Packet and complete all of the
required applications by the deadlines suggested below:
| Fall
2007 Entry |
| Register/Financial Aid Workshops |
February
2007 |
| Financial Aid Workshops Applications |
March
2007 |
| File F.A.F.S.A./Renewal Applications |
April
16, 2007 |
| Sumbit all Documents |
May
11, 2007 |
SUNY College at Old Westbury currently offers its graduate program via three
semesters annually.
Financial Aid Documents
The Office of Financial Aid requires the following documents to be submitted
and/or filed by all applicants
Types of Financial Aid top
The
New York State Tuition Assistance
Program (TAP): TAP
helps eligible New York residents
attending in-state postsecondary
institutions pay for tuition.
Depending on the academic
year in which the student began
study, an annual TAP award
can be as high as $5,000.
Visit the T.A.P. 2007-2008
site for more information.
Federal
Stafford Loans: All
Stafford Loans are either subsidized
(the government pays the interest
while you're in school) or unsubsidized
(you pay all the interest, although
you can have the payments deferred
until after graduation). To
receive a subsidized Stafford
Loan, you must be able to demonstrate
financial need. Stafford Loans
allow students to borrow $18,500
per year, although only $8,500
of that is subsidized. Effective
for loans first disbursed on
or after July 1, 2007, the annual
stafford loan limits will increase
from $18,500 to $20,500. To
apply for a Stafford Loan, you
must submit the Free Application
for Federal Student Aid (FAFSA).
Even though the unsubsidized
Stafford Loan is available to
all students regardless of financial
need, you must still submit
the FASFA to be eligible. You
can receive a subsidized loan
and an unsubsidized loan for
the same period.
Private Loans: Private Loans, also known as Alternative Loans, help bridge
the gap between the actual cost of your education and the limited amount the
government allows you to borrow in its programs. Private loans are offered
by private lenders and there are no federal forms to complete.
Fellowships: Graduate fellowships are forms of aid that help students pay
for their graduate education. Unlike loans, they do not have to be repaid.
Hundreds of thousands of scholarships and fellowships from several thousand
sponsors are awarded each year. The best way to search for scholarships and
fellowships is to use a personalized search, like FastWeb, that compares your
background with a database of awards. Only those awards that fit your profile
are identified as matches.
Financial Aid Staff top
Elvin Cabrera
Financial Aid Advisor
Building: Ca , Room: H- 304
Phone: 516-876-3223
E-mail: cabrerae@oldwestbury.edu
Lorraine M. Cardenas
Assistant Director
Building: CC , Room: H304
Phone: (516) 876-3224
E-mail: CardenasL@Oldwestbury.Edu
Dorothea L. Darrell
Financial Aid Assistant
Building: CC , Room: H304
Phone: (516) 876-3224
E-mail: DarrellD@Oldwestbury.Edu
Jolanda Hairston
College Workstudy Coord.
Building: CC , Room: H304
Phone: (516) 876-3223
E-mail: HairstonJ@Oldwestbury.Edu
Pei Hua (Stephanie) Jian-Chiu
Financial Aid Advisor
Building: CC , Room: H304
Phone: (516) 876-3222
E-mail: jianp@Oldwestbury.Edu
Amar Laradji
Staff Assistant
Building: CC , Room: H304
Phone: (516) 876-3223
E-mail: LaradjiA@Oldwestbury.Edu
Patricia Mateo
Financial Aid Advisor
Building: CC , Room: H304
Phone: (516) 876-3223
E-mail: MateoP@Oldwestbury.Edu
Mildred O'Keefe
Director
Building: CC , Room: H304
Phone: 876-3222
E-mail: okeefem@oldwestbury.edu
Seeing Your Advisor top
Students are assigned Financial Aid Advisors according to the first letter of their last name. While appointments can be made with your Financial Aid
Advisor simply by calling the Office of Financial Aid at (516) 876-3224, each
of the
College's
Financial Aid professionals also maintains a schedule whereby walk-in guests
are welcome. Listed below are the walk-in schedules for each Financial Aid
Advisor.
