How does the financial aid process work at SUNY Geneseo. What are the key deadlines for applying for financial aid. Which forms do students need to complete to be considered for aid. How can students maximize their chances of receiving financial aid at SUNY Geneseo.
Understanding SUNY Geneseo’s Financial Aid Process
Navigating the financial aid landscape can be daunting, but SUNY Geneseo’s Office of Financial Aid is committed to helping students secure the funding they need to pursue their educational goals. This comprehensive guide will walk you through the essential steps, deadlines, and resources available to make your college education more affordable.
Key School Codes for Financial Aid Applications
- FAFSA Code: 002845
- TAP Code: 0920 (SUC Geneseo)
Critical FAFSA Filing Dates for 2023-24
To maximize your chances of receiving financial aid, it’s crucial to submit your Free Application for Federal Student Aid (FAFSA) by the following recommended dates:
- Fall 2023 Early Action Students: November 15, 2022
- Fall 2023 Regular Admit Students: February 1, 2023
- Returning Students and All Graduate Students: February 1, 2023
Step-by-Step Guide to Applying for Financial Aid at SUNY Geneseo
Securing financial aid at SUNY Geneseo involves a multi-step process. By following these steps diligently, you can ensure that you’re considered for all available aid options.
Step 1: Completing the FAFSA
The FAFSA is your gateway to federal student aid, including grants and loans. Here are some essential tips for filling out the FAFSA:
- Use SUNY Geneseo’s Title IV School Code: 002845
- Report income from the prior-prior year
- Adhere to the recommended filing deadlines
- Sign the FAFSA with your FSA ID and Password (parents must also sign for dependent students)
Why is filing early important? Campus-based aid, such as the Supplemental Educational Opportunity Grant (SEOG) and Federal Work-Study, has limited funding and is awarded on a first-come, first-served basis. By submitting your FAFSA early, you increase your chances of being considered for these valuable aid programs.
Step 2: Applying for New York State TAP
The Tuition Assistance Program (TAP) is a vital resource for New York State residents attending in-state schools. After submitting your FAFSA, you can link directly to the TAP application from the FAFSA confirmation page. If you miss this opportunity, don’t worry – the New York State Higher Education Services Corporation (HESC) will send you a notification to complete the TAP application online once they receive your FAFSA data.
Is TAP application necessary for other state grants? Yes, a TAP application must be on file with HESC for the award year to be considered for any New York State grant or scholarship programs, including STEM, AIMS, Excelsior, and Merit.
Step 3: Exploring the NYS Excelsior Scholarship
Families with an adjusted gross income of $125,000 or less should consider applying for the New York State Excelsior Scholarship. This program requires a separate application, which typically opens in the fall for new applicants. Current Excelsior Scholarship recipients don’t need to reapply.
Additional Financial Aid Opportunities at SUNY Geneseo
Beyond federal and state aid, SUNY Geneseo offers various institutional scholarships and programs to help make education more accessible.
New York State Dream Act
The NYS Dream Act provides undocumented and other eligible students access to state-administered grants and scholarships. This initiative expands educational opportunities for students who might otherwise face barriers to financial aid.
Institutional Scholarships
How are scholarships awarded at SUNY Geneseo? New students are automatically considered for scholarships upon admission to the college. Current students must submit an online application. Most scholarships are awarded in the spring semester for the upcoming academic year.
For students interested in study abroad opportunities, the Study Abroad Office offers specific assistance and information on available scholarships.
Special Circumstances Consideration
SUNY Geneseo recognizes that families may face unexpected financial challenges. If your financial situation has changed since filing the FAFSA, you can submit a Request for Special Circumstances form along with supporting documentation. If approved, your federal need-based aid eligibility will be re-evaluated.
Types of Financial Aid Available at SUNY Geneseo
SUNY Geneseo offers a diverse range of financial aid options to help students fund their education. Understanding these options can help you make informed decisions about your financial future.
Need-Based Grants
Grants are a form of financial aid that doesn’t need to be repaid, making them an excellent option for students with demonstrated financial need. Some key grant programs include:
- Federal Pell Grant: Available to students with high calculated need, as determined by the Expected Family Contribution (EFC) from the FAFSA.
- Federal Supplemental Educational Opportunity Grant (SEOG): Awarded to students with exceptional financial need.
Can part-time students receive grants? Yes, students may be eligible to receive Pell Grants even if enrolled less than full-time.
Work-Study Programs
Federal Work-Study provides part-time job opportunities for students with financial need. This program not only helps offset educational costs but also provides valuable work experience.
Student Loans
While loans need to be repaid, they can be a crucial tool in financing your education. SUNY Geneseo offers access to various federal loan programs, including:
- Direct Subsidized Loans
- Direct Unsubsidized Loans
- Parent PLUS Loans
Scholarships
SUNY Geneseo has increased its commitment to scholarship funding, particularly for students with significant financial need. For the 2023-24 academic year, additional funds have been allocated towards scholarships to support students in their educational pursuits.
Maximizing Your Financial Aid Opportunities at SUNY Geneseo
To make the most of the financial aid options available at SUNY Geneseo, consider the following strategies:
- Submit your FAFSA and TAP applications as early as possible to increase your chances of receiving campus-based aid.
- Regularly check for scholarship opportunities, both through SUNY Geneseo and external sources.
- Maintain satisfactory academic progress to ensure continued eligibility for financial aid.
- Communicate with the Office of Financial Aid if your financial circumstances change.
- Explore all aid options, including grants, work-study, and loans, to create a comprehensive funding plan.
Understanding the Impact of Financial Aid on Your Education
Financial aid can significantly influence your educational journey at SUNY Geneseo. Here’s how different types of aid can affect your college experience:
Reducing Financial Burden
Grants and scholarships can substantially decrease your out-of-pocket expenses, potentially allowing you to focus more on your studies and less on financial concerns.
Enhancing Career Readiness
Work-study programs provide valuable work experience, helping you build skills and connections that can benefit your future career.
Promoting Academic Success
By alleviating financial stress, aid can contribute to improved academic performance and increased likelihood of degree completion.
Navigating Financial Aid Challenges at SUNY Geneseo
While the financial aid process at SUNY Geneseo is designed to be as smooth as possible, students may encounter some challenges. Here are some common issues and how to address them:
Incomplete Applications
Ensure all required forms are submitted on time and accurately. Double-check your FAFSA and TAP applications for any missing information.
Changing Financial Circumstances
If your family’s financial situation changes after submitting your FAFSA, don’t hesitate to contact the Office of Financial Aid about the special circumstances process.
Understanding Aid Packages
If you’re unsure about any aspect of your financial aid award, reach out to the financial aid office for clarification. They can explain the different components of your aid package and help you understand your options.
The Future of Financial Aid at SUNY Geneseo
SUNY Geneseo is committed to continually improving its financial aid offerings to support students’ educational goals. Some ongoing initiatives include:
Increased Scholarship Funding
The college has dedicated additional funds for scholarships, particularly targeting students with significant financial need.
Simplified Application Processes
Efforts are ongoing to streamline the financial aid application process, making it easier for students to access the support they need.
Enhanced Financial Literacy Programs
SUNY Geneseo is developing resources to help students better understand financial aid, budgeting, and long-term financial planning.
By leveraging these financial aid opportunities and resources, students at SUNY Geneseo can work towards their educational goals with greater financial security and peace of mind. Remember, the Office of Financial Aid is always available to assist you in navigating this process and making informed decisions about funding your education.
Applying for Financial Aid | SUNY Geneseo
School Codes
FAFSA: 002845
TAP: 0920 (SUC Geneseo)
Recommended 2023–24 FAFSA Filing Dates
- Fall 2023 Early Action Students: November 15, 2022
- Fall 2023 Regular Admit Students: February 1, 2023
- Returning Students and All Graduate Students: February 1, 2023
How to Apply for Financial Aid
Step 1: Fill Out the FAFSA (Free Application for Federal Student Aid)
All students—prospective freshmen, transfers, continuing, or graduate—need to complete the Free Application for Federal Student Aid (FAFSA) to be considered for federal student aid, including federal grants and loans. The FAFSA is available on October 1 for the following academic year.
As you complete the FAFSA, be sure to:
- List SUNY Geneseo’s Title IV School Code, 002845.
- Provide income from the prior, prior year.
- File by the recommended deadlines: November 15 for early-action applicants, February 1 for all other prospective and returning students.
- Sign the FAFSA with your FSA ID and Password. A parent must sign, too, if the student is a dependent.
- If you need assistance, review the resources provided here or through Federal Student Aid Help.
Campus-based aid, like SEOG (Supplemental Educational Opportunity Grant), and Federal Work-Study have limited funding and are made on a first-come, first-served basis. The earlier you file your FAFSA, the greater the likelihood you will be considered.
Go to Additional FAFSA Information and Frequently Asked Questions
Step 2: Apply for NYS TAP (New York State Tuition Assistance Program)
NYS TAP Site
From the New York State Higher Education Services Corporation (NYSHESC): “New York State (NYS) residents attending NYS schools will have the option to link directly to the TAP application from the FAFSA submission confirmation page.
If you exited the FAFSA before selecting this option, you can complete the application after HESC has received your FAFSA data (three days). HESC will send you an email or postcard notifying you to complete the TAP application online if you did not select the FAFSA link to TAP on the web.”
A TAP application MUST be on file with HESC for the award year to be considered for ANY New York State grant or scholarship programs, including STEM, AIMS, Excelsior, and Merit.
Go to Additional TAP Information and Frequently Asked Questions
Step 3: Apply for NYS Excelsior Scholarship
Families whose adjusted gross income is $125,000 or less should consider applying for the New York State Excelsior Scholarship. A separate application MUST be completed to receive this award. Current Excelsior Scholarship recipients do not need to re-apply.
The application for new fall applicants usually opens in Once the application closes we recommend that you sign up at New York State Higher Education Services Corporation to be notified when the application becomes available again for future semesters.
Related Information
New York State Dream Act
The NYS Dream Act gives undocumented and other students access to NYS administered grants and scholarships. For more information or to apply, go to NYS Higher Education Services Corporation.
Institutional Scholarship Information
For scholarship consideration, new students are automatically considered for scholarship when admitted to the College. Current students must submit an online application. Most scholarships are awarded in the spring semester for the next academic year. Continuing students looking for assistance for study abroad should visit the Study Abroad Office.
Special Circumstances
Special circumstances can directly impact a family’s ability to pay for college. If the information provided on your FAFSA has changed, you may submit a Request for Special Circumstances form and provide supporting documentation.
If the application is approved, financial aid eligibility is re-evaluated for federal need-based aid. Note: this does not change New York State financial aid eligibility.
If the application is approved, financial aid eligibility is re-evaluated for federal need-based aid. Note: this does not change New York State financial aid eligibility.Types of Financial Aid | SUNY Geneseo
Once your financial need is calculated (using your Free Application for Federal Financial Aid), SUNY Geneseo awards grants first, then work study, and finally loans.
The awards on your Financial Aid Award Letter may change if your FAFSA information is updated, you receive aid from other resources, your cost of attendance changes or you are not making satisfactory academic progress.
Geneseo also offers scholarships for new and existing students, and has dedicated additional funds for the 23-24 year toward scholarships for students with great financial need.
Grants (Need-Based and Not Repaid)
Federal Pell Grant—available to students who have demonstrated high calculated need. The expected family contribution calculated from the FAFSA determines this award.
Students may be eligible to receive Pell for less than full-time enrollment.
Federal Supplemental Educational Opportunity Grant (SEOG)—available only to those students who demonstrate the highest level of financial need. While the amount is determined by the Office of Financial Aid, it may be awarded to you only if you are eligible for a Federal Pell Grant and if funding is still available.
NYS Excelsior Scholarship – This scholarship will help to cover the cost of tuition (less the Federal Pell Grant, NYS TAP, SUNY Tuition Credit and other awards not designated as non-tuition based) for qualifying students. For more information or to apply, go to New York State Higher Education Services Corporation. You may also sign up to be notified when the application does become available.
NYS Tuition Assistance Program (TAP) – This is a New York State grant that is determined by your family’s New York State net taxable income.
You must file a separate application with the New York State Higher Education Services Corporation (NYSHESC) which, in turn, will issue you an official award notice. The TAP amount that appears on the Financial Aid Award Notice is only an estimated award until NYS determines your actual award amount and sends the information to the school.
SUNY Tuition Credit (SUNYTC) – This is a grant awarded to supplement TAP awards. It is automatically awarded to students receiving the TAP Grant. The SUNYTC is also estimated until an actual TAP award is sent to SUNY Geneseo. The amount is calculated based on the actual NYS TAP award.
Educational Opportunity Program (EOP) – This New York State grant is specifically designed for students who have demonstrated both educational and economic disadvantages. Only students admitted to the College through EOP may be awarded this grant.
Federal TEACH Grant– The Federal TEACH Grant is a financial aid option for students in education majors that prepare them to become teachers in high need fields.
In exchange for the grant, the student must meet a service obligation by teaching in one of these fields, and at a school that serves low-income students. For more information, click here. Please note that due to the mandatory spending cuts by the federal government through sequestration, TEACH funds may be reduced and/or canceled. If a revision is made to your award, we will send a new award notice.
Loans (Must be Repaid)
Federal Direct Loans – The interest rate for Direct Subsidized & Unsubsidized Loans will be set on July 1. Interest rates are fixed for the year, in accordance with the US 10-year Treasury Note. Funds are borrowed directly from the U.S. Department of Education. The Department of Education charges a small* origination fee (1.057%). For example, a $3,500 loan pays to your account as $3,463. Repayment will begin 6 months after you cease being at least a half-time student. All first-time borrowers need to complete Entrance Loan Counseling and a Master Promissory Note.
Additional information will be sent to new borrowers after May 1st.
Federal Direct Subsidized Loan – This is a need-based student loan. Interest does not accrue while the student is attending school at least half-time (6 credits or more).
Federal Direct Unsubsidized Loan – This is not a need-based loan. Interest accrues while the student is attending school and during repayment.
Federal Direct Parent Loan for Undergraduate Students (PLUS) – A PLUS Loan can be used to cover any shortfall between the cost of attendance and financial aid offered to the student. Interest rates are fixed for the year, in accordance with the U.S. 10-year Treasury Note. Funds are borrowed directly from the U.S. Department of Education. The Department of Education charges a 4.228%* origination fee. For example, a $13,000 loan pays to your account as $12,450. Parents have the option of making the monthly payments immediately or deferring payments while the student is enrolled.
The Direct Parent PLUS Loan require a credit check and a separate application on www.studentaid.gov after May 1.
* Direct Loan interest rates and origination fees may change without notice due to Federal legislation.
Federal Perkins Loan – As of October 1, 2017, the Perkins Program has been eliminated, therefore funding is no longer available from this source. The interest rate was fixed at 5%, but interest does not accrue while you are enrolled at least half-time (6 credits or more). Repayment begins 9 months, after you cease being at least a half-time student.
Private Student Loans – As an alternative to the Parent PLUS Loan, private student loans may be available for creditworthy borrowers/co-borrowers. Private student loans are offered by some banks and lending institutions to assist in paying for college – they should only be considered if you need additional funds beyond the federal and state financial aid programs.
Please go to http://www.elmselect.com for a list of lenders that our students have commonly used. Each lender’s loan program may be different; however, commonalities include:
Loans are in the student’s name, with an eligible cosigner (a credit check is done)
Option of a variable or fixed interest rate
Interest rates and loan fees may vary based on the cosigner’s creditworthiness
Interest accrues on the loan while the student is in college
Geneseo will certify the loan amount up to the cost of attendance less any other financial aid
Alternative student loans should be chosen carefully. Since they are not federal student loans, terms and conditions can vary widely. These loans will only be added to your financial aid package once you apply and are approved by the lender.
Work (“College Work-Study Job”)
Federal Work Study – This program allows students to work on a part-time basis to earn money to pay for indirect costs.
