Monroe College - Financial Aid Terms Monroe College

Students may use an academic waiver/TAP waiveronly once. They must explain and prove the extenuating circumstances that prevented them from meeting standards of progress. The Academic Dean must approve all Academic Waivers. TAP Waivers must also be reviewed and approved by the Director of Financial Aid Compliance on the Bronx Campus or the Director of Financial Aid on the New Rochelle Campus.

Campus-based Programs

The financial aid programs administered by most postsecondary institutions. These programs include Federal Work-Study andFSEOG.

Dependent Student (For State Aid)

2010 - 2011	2011 - 2012
Students under age 35. If you answer yes to any of these questions, your are dependent and will need your parents'/stepparents'information (2010 income information, social security numbers, and dates of birth). Did you live with your parents for more than 6 weeks during 2010, 2011, and 2012? Were you or will you be claimed as a dependent on your parents' federal or state tax return for 2010 and 2011? Did you receive financial assistance of $750 from your parents during 2009, 2010, and 2011.

2010 - 2011

2011 - 2012

Students under age 35.

If you answer yes to any of these questions, your are dependent and will need your parents'/stepparents'information (2010 income information, social security numbers, and dates of birth).

Did you live with your parents for more than 6 weeks during 2010, 2011, and 2012?
Were you or will you be claimed as a dependent on your parents' federal or state tax return for 2010 and 2011?
Did you receive financial assistance of $750 from your parents during 2009, 2010, and 2011.

Dependent Student (For Federal Student Aid)

2010 - 2011	2011 - 2012
If you can answer "No" to ALL of the following questions, you are a dependent student and will need your parents'/stepparent's information (2010 income information, social security numbers, and dates of birth). Were you born before 1/1/88? Are you working on a Masters or Doctorate program? Are you married? Do you have children you support? (You must be providing more than half ofthe child'ssupport between July 1, 2011 and June 30, 2012) Do you have dependents other than children or a spouse that you support? ( The dependent must be living with you and you must be providing more than half ofhis/her support between July 1, 2011 and June 30, 2012) Are you an orphan or ward of the court? Are you a veteran of the U.S. Armed Forces? Are you on active Military Duty? Have you been in a legal guardianship or foster care situation since the age of 13? Have you been designated as an emancipated minor by a court in your state of legal residence? Have you been designated as being in a homeless situation?

2010 - 2011

2011 - 2012

If you can answer "No" to ALL of the following questions, you are a dependent student and will need your parents'/stepparent's information (2010 income information, social security numbers, and dates of birth).

Were you born before 1/1/88?
Are you working on a Masters or Doctorate program?
Are you married?
Do you have children you support? (You must be providing more than half ofthe child'ssupport between July 1, 2011 and June 30, 2012)
Do you have dependents other than children or a spouse that you support? ( The dependent must be living with you and you must be providing more than half ofhis/her support between July 1, 2011 and June 30, 2012)
Are you an orphan or ward of the court?
Are you a veteran of the U.S. Armed Forces?
Are you on active Military Duty?
Have you been in a legal guardianship or foster care situation since the age of 13?
Have you been designated as an emancipated minor by a court in your state of legal residence?
Have you been designated as being in a homeless situation?

Application for Federal Aid (FAFSA)

The federal web application that must be completed andsubmitted to the government when applying for need-based federal aid.

Family Contribution (EFC)

The amount of money the federal government determines that you and your family can afford to contribute to your education, based on your family's income,house hold sizeand assets.

Federal Work-Study Program (FWSP)

Part-time student employment that is funded by the Federal Government. Eligibility is based on need. Monroe College work-study students can beplaced in jobs within the school or outside agencies.

Direct Loans

These are long-term, low-interest loans authorized bythe Federal Government for the educational expenses of eligible undergraduate and graduate students and parents. The college administers the funds provided by the Federal Government for this program.

Financial Aid Award

Any offer of financial assistance issued by a government agency or the college to help students meet their educational expenses.

Financial Need

EdEducational costs remaining after deducting expected family contribution(EFC) scholarships and awards.

Grants

Money you are awarded based on family needas determined by federal and state formulas. You are not expected to repay a grant.

Independent Student (For State Aid)

Students whoare over 22who are not living with their parents.

Independent Student (For Federal Student Aid)

2010 - 2011	2011 - 2012
If you can answer "Yes" to any one of the following questions, you are an independent student. Were you born before 1/1/88? Are you working on a Masters or Doctorate program? Are you married? Do you have children you support? (You must be providing more than half of the child'ssupport between July 1, 2011 and June 30, 2012) Do you have dependents other than children or a spouse that you support? ( The dependent must be living with you and you must be providing more than half of his/her support between July 1, 2011 and June 30, 2012) Are you an orphan or ward of the court? Are you a veteran of the U.S. Armed Forces? Are you on active Military Duty? Have you been in a legal guardianship or foster care situation since the age of 13? Have you been designated as an emancipated minor by a court in your state of legal residence? Have you been designated as being in a homeless situation?

2010 - 2011

2011 - 2012

If you can answer "Yes" to any one of the following questions, you are an independent student.

Were you born before 1/1/88?
Are you working on a Masters or Doctorate program?
Are you married?
Do you have children you support? (You must be providing more than half of the child'ssupport between July 1, 2011 and June 30, 2012)
Do you have dependents other than children or a spouse that you support? ( The dependent must be living with you and you must be providing more than half of his/her support between July 1, 2011 and June 30, 2012)
Are you an orphan or ward of the court?
Are you a veteran of the U.S. Armed Forces?
Are you on active Military Duty?
Have you been in a legal guardianship or foster care situation since the age of 13?
Have you been designated as an emancipated minor by a court in your state of legal residence?
Have you been designated as being in a homeless situation?

Loans

Money that is borrowed fromthe Federal Direct Loan Program for school related expenses by you and /or your parents.All loans must be repaid.

Master Promissory Note(MPN)

The Master Promissory Note enables students to receive multiple subsidized and unsubsidizedDirect Lending Loansover a maximum ten year period. A completed and signed Master Promissory Note must be completed online at www.studentloans.gov.

Parents who are taking out a Parent PLUS Loan, must submit a completed Parent PLUS Loan Master Promissory Note online at www.studentloans.gov.

Monroe Scholarship

A scholarship from Monroe based on high academic achievement as defined by the college.

Pell Grant

The federal grant program, awarded on the basis of financial need as determined by a federal government formula.

SAR: Student Aid Report

The document that the Federal government sendsstudents indicating what theirEFC (expected family contribution)will be. Students should keep this for their records.

Scholarship

A form of financial assistance that does not require repayment or employment and is usually made to a student who shows high academic performance.