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-- How to Apply for Aid
-- Cost of Education for 2007-08
-- Determining Finacial Need
-- Components of a Financial Aid Award
-- Academic Standars for Continuing Eligability
-- Alternative Financing Options
-- Graduate Students
-- Financial Aid Staff
-- Seeing Your Advisor
-- On-Line Resources
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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 email@example.com 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:
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).
***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.
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 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.
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.
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.
Federal PLUS Loan
Alternative Loans 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:
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 firstname.lastname@example.org for a "specific year" Financial Aid Packet and complete all of the required applications by the deadlines suggested below:
SUNY College at Old Westbury currently offers its graduate program via three semesters annually.
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. There are also cumulative $65,500 combined limit for undergraduate and graduate students. 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
Pei Hua (Stephanie) Jian-Chiu
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.
On-Line Resources top
Through the professional experience of our Financial Aid staff, the College has come into contact with an array of organizations and resources that have proven helpful in makings students' dreams of a college education come true.
Free Web Sites
Institutions and Lenders: top
SUNY College at Old Westbury, P.O. Box 210, Old Westbury,
NY 11568-0210 - (516) 876-3000