Financial Aid

Students enrolled at Monroe College (New York State campuses) may be eligible for one or more types of financial aid in the form of federal/state grants, federal loans, work-study programs, college grants and scholarships.

Each program has its own eligibility requirements based on either federal or state regulations and/or Monroe College policies. To establish eligibility for federal or state financial aid, students must complete the Federal Application for Federal Student Aid* (FAFSA) and, upon request, provide required documentation.

*Students must utilize the U.S. Department of Education’s WEB site (www.fasfa.gov) to complete the FAFSA. All applicants must obtain a Federal Personal Identification Number (PIN) by going to www.pin.ed.gov

Student Eligibility Requirements For Federal Financial Aid

• All male students between the ages of 18 and 25 must be registered with the Selective Service System. Only permanent residents of the Trust Territory of the Pacific Islands and the Northern Marina Islands are exempt from this requirement.
• Must be citizens or eligible non-citizens
• Must be enrolled and working toward a degree or certificate as a regular student in an eligible program
• Must have a high school diploma or equivalent or pass an approved ability-to-benefit test or have completed an approved home school program
• Must have a valid social security number
• Must make satisfactory academic progress
• Must not be in default on a federal student loan and not owe money on a federal student grant
• Must have resolved any drug conviction issues
• Must have no record of conviction for sex offenses

Verification

The U.S. Department of Education may select a student for verification. Selected students will receive an email from the Student Financial Services Office requesting documentation of specific items reported on the student’s FAFSA application. Students are expected to respond to this request within two weeks of receiving the email. Failure to submit documentation in a timely manner may result in the loss of federal aid.

Students have a maximum of 120 days to submit the required documentation or no later than September 26, 2012, whichever is earlier, if circumstances prevent the expected two-week response.

Federal Financial Aid Programs

Pell Grant Program

These need based awards are determined by the federal needs analysis from information provided on the FAFSA. For the 2011-12 academic year, full-time student awards are scheduled to range up to $5550. Awards are pro-rated based on enrollment status.

Supplemental Educational Opportunity Grant (SEOG)

These need based awards are determined by the federal needs analysis from information provided on the FAFSA. Priority pools have been established for the awarding of SEOG funds. Students who completed their 2011-12 FAFSAs before April 1, 2011 are in the first priority pool. SEOG funds will be awarded to the neediest students (Pell recipients with the lowest Estimated Family Contribution (EFC) as determined by the federal needs analysis from the FAFSA) who are in the priority pool. Those filing after April 1 may be eligible for SEOG based on their date of filing the FAFSA and the availability of funds. Award amounts may vary based on student enrollment status and availability of funds.

College Work-Study Program (FWSP)

These need based awards enable students to work in order to earn funds to help pay for their cost of attendance expenses. Employment placement and the amount students can earn depend on the availability of funds and job sites. Continued eligibility for FWS employment is also contingent upon continued satisfactory academic progress, attendance, and job performance. Students must begin the application process at the Office of Student Financial Services to determine their eligibility. If eligible, they will be sent to the Office of Career Advancement (OCA). Authorization to begin work includes completion of OCA requirements and the availability of a job assignment.

Veteran’s Benefits

The Post-9/11 G.I. Bill

Eligible veterans can receive benefits to pay tuition, housing and textbook costs.

• Post-9/11 G.I. Bill Eligibility: The Post-9/11 G.I. Bill is for individuals with at least 90 days of aggregate service on or after September 11, 2001, or individuals discharged with a service-connected disability after 30 days. The student must have received an honorable discharge to be eligible for the Post-9/11 G.I. Bill.
• Applications can be made online at: http://vabenefits.vba.va.gov/vonapp/main.asp or by calling 888.442.4551 to request that a form be mailed to you.

Monroe Tuition and Fees covered by the Post 9/11 G.I. Bill:

Full Time Students:

Students are encouraged to apply for Pell and New York State Tuition Assistance Program (TAP). TAP awards will be used in determining the final amount of the student’s VCH33 payment, which may be up to $6,220 per semester if no other grants or institutional aid is received.

Any remaining tuition difference above $17,500 per academic year will be fully covered by the Yellow Ribbon program.

Part Time Students:

V.A. payment may be up to $485 per credit minus any TAP awards and/or institutional aid the student may be receiving.

Any remaining tuition difference above $17,500 per academic year will be fully covered by the Yellow Ribbon program.

V. A. stipend for books and supplies is up to $1000 annually.

Transfer of Eligible Benefits (TEB) to dependent spouse or children.

Service members who are enrolled in the Post 9/11 G.I. Bill may be able to transfer unused education benefits to their dependent spouse or children.

Contact Allen Hansen, VA liaison, for further information about VA educational benefits. (ahansen@monroecollege.edu)

Federal Direct Loan Program

This federal loan program enables eligible applicants to obtain student loans to meet their cost of attendance expenses. Students must be matriculated and enrolled in a minimum of 6 credits. Interest rates, fees and repayment terms are determined by federal statute and may vary by the year students obtain their initial loan.

Students must complete a Master Promissory Note (MPN) and an Entrance Interview at studentloans.gov to ensure that all borrower rights and responsibilities are understood. Loans cannot be disbursed until Entrance counseling is complete.

Federal Direct Subsidized Student Loan

The federal government pays the interest on behalf of the borrower while students are enrolled at least half -time in college, during the six month grace period, and during times of authorized deferment and forbearance. Repayment of the loan begins six months after the student graduates or the student’s enrollment status changes to less than half-time.

Federal Direct Unsubsidized Student Loan Program

Unlike the subsidized loan program interest on unsubsidized loans begins is paid by the borrower, not the federal government when the loan is disbursed. Students have the option of paying these interest charges while attending school. If they choose not to pay the interest, it will accrue and be capitalized. Repayment of the loan begins six months after the student graduates or the student’s enrollment status changes to less than half-time.

Loan Terms

Interest Rates A

1^st Disbursed

July 1, 2010 and beyond PLUS fees remain at 4.0% with an upfront interest rebate of 1.5%

Federal Loan Disbursements

First semester student loan funds will not be disbursed earlier than 30 days from the beginning of the semester. All subsequent loan funds are disbursed to student accounts after the third week of each semester contingent on when the loan was originated.

Loan Limits for Direct Loans

Dependent Students

Independent Students

Maximum Aggregate (Combined Total)

Dependent Undergraduate Students

Independent Undergraduate Students

Federal Direct Parent Loan Program (Plus)

These loans are available to parents of dependent students to help meet their children’s cost of attendance expenses. PLUS loan borrowers are subject to a credit check and if approved, the parent is required to complete a Master Promissory Note (MPN). If a PLUS Loan denial is received, the dependent student is eligible for an additional $4,000 in unsubsidized loan funds.

PLUS loan repayment begins within 60 days of disbursement of funds.

Interest rates, fees and repayment terms are determined by federal statute and may vary by year. Disbursements made from July 1, 2010 through June 30, 2011 will have a fixed interest rate of 7.90%. A loan fee of 4.00%, less a 1.50% up front rebate is deducted from the loan before it is disbursed.

Borrower Rights and Responsibilities

Exit Counseling

All recipients of a Federal Direct Loan who withdraw, drop below six (6) credits, or graduate must complete an Exit Counseling session on the web at nslds.ed.gov. and are urged to meet directly with a member of the Loan Management Team. During the on-line counseling, students will be able to view their loan history and learn about deferral and repayment options.

Repayment: The repayment of Direct Loans begins six (6) months after a student graduates or drops below half-time status. The amount of the monthly repayment is calculated based upon the total amount that has been borrowed, as well as the repayment plan selected. Visit nslds.ed.gov and click on the link “Repayment Plans and Calculators” to learn more.

Non Federal Loans

Students in need of funds beyond those available from federal, state, college and outside grants, scholarships, work study and federal loans may seek non-federal loans. Students should carefully research these options as interest rates, fees and loan terms vary widely among loan providers.

Students must obtain a Self Certification form from the Student Financial Services Office that must be submitted to their lender upon approval of the alternative loan.

Standards of Academic Progress for Title IV Eligibility

To remain eligible for Title IV aid, students must make satisfactory progress towards completion of their degree. Satisfactory progress is measured by a qualitative standard (students must maintain a minimum Grade Point Average [GPA]) and a quantitative standard (students must earn a percentage of credits attempted.) Monroe College monitors Standards of Academic Progress at the end of each semester.

Qualitative Standard

Students must maintain a specific cumulative GPA by the completion of each semester of study. No student may graduate with a cumulative GPA below 2.0. By the end of each semester, students must have achieved the following cumulative GPAs:

Quantitative Standard

Students are also expected to make satisfactory progress toward the completion of their degree. Therefore, students are required to earn a certain percentage of all their attempted credits. To demonstrate satisfactory progress, students must meet the following requirements:

* Percentages will be rounded up to a whole number.

Maximum Number Of Attempted Credits

Students receiving federal aid must complete their degrees within 150% of the normal time for completion. For example, students may not attempt more than 90-credits to earn the 60-credits needed for the Associate degree or 180-credits to earn the 120-credits needed for the Bachelor’s degree or 225 credits to earn the 150 credits needed for 5 year Bachelor’s degree.

Determination of Attempted Credits And Effect on GPA

Withdrawals

Withdrawals are considered course attempts but will not count towards a student’s grade point average.

Administrative Withdrawals

Administrative Withdrawals are considered course attempts and will count towards a student’s grade point average, with the grade equivalent of an F.

Repeated Courses

In calculating the GPA repeated courses are considered course attempts The highest passing grade replaces the lowest grade in calculating the GPA.

Incompletes

Incompletes are considered course attempts and prior to any grade change, will be calculated as an F.

Non-Credit Remedial Courses

Non-credit remedial courses are not considered course attempts and will not count towards a student’s GPA.

Transfer Credits, Proficiency Exams, Prior Learning Assessment, CLEP And Other Test- Based Credits

All transfer or test-based credits earned count as credits attempted and credits earned but do not count towards a student’s GPA.

Loss of Federal Title IV Eligibility

A student who falls into one of the following categories will be subject to loss of Title IV eligibility:

Financial Aid Warning Status

A student who fails to achieve required quantitative standards is placed in a financial aid warning status and remains eligible for Federal aid. Such a student must achieve standards after one payment period. Failure to do so will result in the loss of Title IV aid.

SAP Appeal

Students who fail to make satisfactory academic progress or fail to complete their degree within the maximum timeframe may appeal the loss of their Title IV eligibility If the appeal is granted, a student may be placed on probation or an academic plan.

SAP appeals are done on a case-by-case basis where extenuating circumstances prevented the student from meeting Satisfactory Academic Progress requirements Documentation will be required along with an explanation of how the student’s circumstances have changed to now allow him or her meet SAP requirements after one probationary period or by following a customized academic plan. The student remains eligible for Title IV aid during the probationary period or as long as the plan is successfully followed. Students must contact the the Director of Student Finanical Services on the appropriate campus in order to obtain the appeal form and begin the appeal process. The form and accompanying letter and documentation must be submitted before by the end of the first week of the semester. Extenuating circumstances may include, among other possible circumstances, death of an immediate family member, illness of student or immediate family member, domestic violence situation, or sudden homelessness.

Non-Matriculated And Non-Title IV Semesters

During semesters in which the student is non-matriculated or in which the student does not receive any Title IV assistance, all appropriate courses taken will count as courses attempted for the cumulative quantitative and qualitative analysis.

Treatment of Nonstandard Situations

For the purpose of satisfactory academic progress, transfer credits will be accepted toward the degree as both credits attempted and credits earned. Because the college does not transfer letter grades, students who transfer from another institution will be placed on the SAP chart according to the semester that corresponds to the number of accepted credits. Students who transfer in 15 or more credits and do not meet the required GPA at the end of their first semester will be placed on a “warning” status and remain eligible for Title IV aid. They must achieve the required GPA by the end of the following payment period.

Students pursuing a second degree shall measure satisfactory academic progress by counting the credits accepted toward the second degree as both credits attempted and credits earned. (Please note that students attempting a second bachelor’s degree are eligible for loans only.)

When students change majors their standards of progress will be caculated from the time of the change of major and include all credits applicable to the new major.

New York State Financial Aid Programs

Student Eligibility Requirements For New York State Financial Aid

• Must be U.S. citizen or eligible non-citizen
• Must have established legal residence in New York State 12 months prior to the beginning of the semester
• Must be enrolled and matriculated in a program for at least 12 credits (TAP); at least 6 credits (APTS).
• Must satisfy Academic Pursuit and Progress (see chart below)

Tuition Assistance Program (TAP)

These needs based awards are determined by student/parent information provided on the FAFSA and New York State tax information. Awards range from $250 to $5000 and are determined by New York State.

Aid for Part-Time Study (APTS)

This award is available only to currently enrolled part-time students. Recipients are selected from those that apply and who would otherwise be eligible for TAP. The award is contingent on student need as well as the availability of funds. The maximum award for a semester is one-half of the student’s TAP award; up to a maximum of $1,000. For more information, please contact the Student Financial Services Office.

Fall 2011 TAP Satisfactory Academic Progress & Pursuit

Effective Fall 2011 (Academic Year 2011-12)

When to use

• Student who received first TAP payment prior to fall 2010 or
• Student enrolled in at least 6 semester hours of non-credit remedial coursework in their first semester of their first tap payment.

Associates Degrees & Certificate programs

Baccalaureate program

Fall 2011 TAP Satisfactory Academic Progress & Pursuit

Effective Fall 2011 (For Academic Year 2011-12)

When to use

• Student who received first Tap payment in fall 2010 or later and
• Student enrolled in less than 6 semester hours of non-credit remedial coursework

Associates Degrees & Certificate Programs

Baccalaureate program

All students must earn a minimum of 24 credits over two semesters in order to receive a TAP award in their third consecutive semester.

Tap Waiver

Regulations of the New York State Commissioner of Education permits students, who lose TAP due to withdrawal from classes because of unforeseen mitigating circumstances, to apply for a one-time waiver of New York State’s TAP academic progress and pursuit level requirements. A waiver is not automatic and must be done in accordance with Monroe College criteria.

Monroe College, at its discretion, may grant a waiver based on evaluation of mitigating circumstances beyond the student’s control. Documentation of circumstances is required. A student’s ability to benefit from approval of waiver will also be a determining factor for waiver approval.

A request for a waiver must be initiated by the student at the appropriate Student Services Office.

Other NYS Financial Aid Programs

For applications and program details, contact:

NYS Higher Education Services Corporation

Albany, New York 12225

NYS Student Aid To Native Americans

Students who are listed on an official tribal roll of a New York tribe or who are children of an enrolled member may be entitled to aid under this program for up to four years of full-time study.

NYS Regents Award For Children Of Deceased Police Officers Or Firefighters

Awards for up to five years for full-time matriculated study are available to resident children eligible for the Regents Award for Children of resident police officers, firefighters, or volunteer firefighters of New York State or any of its municipalities who died as a result of any injury sustained in the line of duty.

NYS Regents Award For Children Of Deceased Or Disabled Veterans (Child Of Veteran Award)

Awards for up to five years for full-time matriculated study are available to children of resident veterans who died in the service or who have a current disability of 50 percent or more as a result of U.S. military service.