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Student News

Financial Aid News - December 2017

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Financial Success For The Year Ahead!

Financial Aid News

December 2017





Student Financial Services (SFS) Hours
SFS Resource Center Hours
C-Building, Room C-107
C-Building, Room C-109
Monday & Thursday 9:00 a.m. – 7:00 p.m.
Monday & Thursday 9:00 a.m. – 5:30 p.m.
Tuesday & Wednesday 9:00 a.m. – 5:00 p.m.
Tuesday & Wednesday 9:00 a.m. – 4:30 p.m.
Friday 9:00 a.m. - 1:00 p.m.


Get $$$ to Pay for College Complete your 2018-2019 Free Application for Federal Student Aid (FAFSA) @ www.fafsa.ed.gov


Excelsior

The Excelsior Scholarship application for the spring 2018 semester is now available. Current Excelsior Scholarshiprecipients should not complete this application. If you first received the award in the fall term of the current academic year, no additional action is needed for the Spring term. The Application deadline is December, 4, 2017.


The Excelsior Scholarship, in combination with other student financial aid programs, allows students to attend a SUNY or CUNY college tuition‐free.


ELIGIBILITY

An applicant must:

  • be a resident of NYS and have resided in NYS for 12 continuous months prior to the beginning of the term;
  • be a U.S. citizen or eligible non‐citizen;
  • have either graduated from high school in the United States, earned a high school equivalency diploma, or passed a federally approved “Ability to Benefit” test, as defined by the Commissioner of the State Education Department;
  • have a combined federal adjusted gross income of $100,000 or less;
  • be pursuing an undergraduate degree at a SUNY or CUNY college, including community colleges and the statutory colleges at Cornell University and Alfred University;
  • be enrolled in at least 12 credits per term and complete at least 30 credits each year (successively), applicable toward his or her degree program;
  • if attended college prior to the 2017‐18 academic year, have earned at least 30 credits each year (successively), applicable toward his or her degree program prior to applying for an Excelsior Scholarship;
  • be in a non‐default status on a student loan made under any NYS or federal education loan program or on the repayment of any NYS award;
  • be in compliance with the terms of the service condition(s) imposed by a NYS award that you have previously received; and
  • execute a Contract agreeing to reside in NYS for the length of time the award was received, and, if Employed during such time, be employed in NYS.

CATCH-UP YEAR

Applicants who first entered college as a freshman student in the 2015‐16 and who have earned 54 credits, or who first entered college as a freshman student in 2016‐17 academic year and who earned 24 credits can make up those 6 credits in 2017‐18. Students who successfully earn 36 credits in the 2017‐18 academic year can become eligible for the Excelsior Scholarship beginning in the 2018‐19 academic year.


AWARD AMOUNT*

The Excelsior Scholarship provides awards up to $5,500.

To determine the award amount, the resident tuition rate charged by SUNY (currently $6,470) or CUNY (currently $6,330) will be reduced by the amount of certain other student financial aid awards which an applicant has or will receive for the academic year, including a NYS Tuition Assistance Program (TAP) award and/or federal Pell grant. The Excelsior Scholarship will cover any remaining tuition liability up to $5,500; and a tuition credit will cover any remaining tuition expenses not covered by the Excelsior Scholarship.


*Note: Any award payment received may have tax implications. Anyquestions regarding this should be directed to a tax professional, the InternalRevenue Service, or the NYS Department of Taxation and Finance.


DURATION

A recipient of an Excelsior Scholarship is eligible to receive award payments for not more than two years of full‐time undergraduate study in a program leading to an associate’s degree or four years of full‐time undergraduate study, or five years if the program of study normally requires five years, in a program leading to a bachelor’s degree.


PAYMENT

To receive payments each subsequent year (after the initial application year), Excelsior Scholarship recipient must annually complete the FreeApplication for Federal Student Aid (FAFSA) and the TAP‐on‐the‐WebApplication.


HOW TO APPLY

Current Excelsior Scholarship recipients should not completethis application. If you first received the award in the fall term of the current academic year, no additional action is needed for the spring term.


To complete the application, you will need:

  • To complete the Free Application forFederal Student Aid (FAFSA) and the TAP‐on‐The‐Web Application
  • Copies of 2015 New York State income tax return(s) filled by you and your parent(s), as applicable
  • If you are a transfer student or a student with a disability under the Americans with Disabilities Act (ADA),
  • an official college transcript
  • If you are a current student, for the application question “During your lifetime college experience, how many terms did you complete?” please include the current fall term in your count.­

Application Deadline: December 4, 2017

FREQUENTLY ASKED QUESTIONS

Please contact the Scholarship Unit at scholarships@hesc.ny.gov or 888‐697‐4372.


Check Your Financial Aid Status on CUNYfirst

1. Log in to your CUNYfirst account here.

2. Click to expand the Self Service options and select Student Center.

3. Under the Finances section, click Account Inquiry.

On the Account Inquiry screen, look for your Pending Financial Aid. Here you can view your account activity, current balance after Financial Aid, a detailed list of charges, payments and refund amount.


NYS TAP Eligibility

*Attention all students with Foreign High School credentials*
You must complete the Ability to Benefit Test for NYS aid eligibility. Visit the Testing Office in the C-Building, Room C-460 for the ATB test availability dates

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Financial Aid Tip:

Always check your “to do list” on your student center page in CUNYFirst for financial aid documents that are required to submit!

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Satisfactory Academic Progress (SAP)Requirements for Financial Aid

Students must be making satisfactory academic progress towards completing an associate degree in order to remain eligible for federal financial aid (PELL, FSEOG, Federal Work-Study, Federal Perkins Loans and Federal Direct Loan). Students must meet all the following satisfactory academic progress requirements:


Minimum GPA Chart
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Pace of Progress

A student must successfully earn a minimum number of credits based upon the number of attempted credits.

Pace of Progress Chart

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Maximum Time Frame

A student may attempt no more than 150% of the credits for completion of a degree. Students are required to earn a minimum of 60 credits to receive a degree at LAGCC.

Example:150% of 60 credits is 90. A student may attempt no more than 90 credits to earn 60. If a student has attempted 91 credits and only have earned 50 credits they are no longer eligible for federal aid.

Student

Tips to have a successful semester at LaGuardia:

  • Use the resources! If you aren't sure about your classes, talk to your Academic Advisor.
  • Plan each term, and plan each week. (See the Academic Calendar).
  • Feeling overwhelmed? Talk to the Advising Team
  • Talk to your professors—get to know them EARLY, and seek them out OFTEN!
  • Get enough sleep. The more refreshed your body is, the more likely you are to pay attention and take effective notes in class. If you are experiencing any issues or want to speak with someone, we encourage you to visit The WellnessCenter.

And we'll leave you with this. Keep in mind, though—you are NOT on your own! We're all here to cheer you on.


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Enhance Your Financial Literacy

Student loan interest rates to rise following Treasury note auction

The interest rate on new federal student loans will increase from 3.76 percent on undergraduate direct loans issued for the 2016-17 award year to 4.45 percent for the2017-18 award year, according to the results of Treasury Department's 10-year note auction held on Wednesday, May 10, 2017.

Are you graduating in the Fall 2017 semester with student loan debt? You are required to complete exit counseling for your student loans. Visit studentloans.gov to complete student loan exit counseling electronically.For more information contact aolivero@lagcc.cuny.edu.
Student Financial Services will host a 2017-2018 workshop on the following dates at 3:30 in C-103.

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HelpWanted

Federal Work Study

Are you interested in becoming a Federal Work Study student?

For more information on the Federal Work-Study Program visit office C-113 or visit our webpage at http://www.laguardia.edu/Financial-Aid/Federal-Work-Study


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Important Financial Aid web pages:

  • To Apply for Financial Aid

www.fafsa.ed.gov

  • To Check your academic eligibility to receive Financial Aid

https://www.laguardia.edu/financial-aid/financial-aid-policies/

  • LaGuardia Academic Calendar

https://www.laguardia.edu/Academics/Academic-Calendar

  • Academic Advising

https://www.laguardia.edu/advising/

  • The Wellness Center/Counseling

http://www.laguardia.edu/WellnessCenter/

Good Luck in your Exams!


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