Paying for Your Education
You’ve decided to go for it — congratulations! Now you have to figure out how you’ll pay for school. If that feels overwhelming, know that you’re not alone. At Monroe, we've worked with thousands of students to come up with financial aid plans (also known as a financial aid package) that are personalized and realistic. Once you’re accepted to a program, we’ll pair you with one of our financial aid counselors who will discuss your situation with you and walk you through your options.
I get to know student families closely so I can really understand their needs.
Director, First Year Student Financial Aid
Types of Financial Aid
A variety of aid types make up a typical financial aid package. Chances are, you’ll end up with a mix:
- Grants: Money for your education that do not have to be paid back. Most grants are need-based and may be from the Federal and/or New York State government. Monroe Partnership Grants, however, are available from the College to students who are employees of our partner companies and organizations.
- Scholarships: Money that’s awarded to you based on your academic, athletic, or other accomplishments, that does not have to be paid back.
- Work Study: Money you earn through on-campus employment. The Federal work study program is designed to fit in with your academic workload.
- Loans: Federal loans that you’ll pay back over a period of several years. If you’re a dependent student, your parent may also qualify for a Parent Loan, which has to be repaid by your parent.
Net Price Calculator
Get a sense of how affordable Monroe can be for you. Our calculator estimates your costs based on the amount of aid you might receive.
Get Started: The FAFSA
Are you a U.S. citizen or permanent resident applying for undergraduate or graduate study? If so, you'll start by completing the Free Application for Federal Student Aid (FAFSA) to take advantage of Federal and New York State student aid options. We’ve created a step-by-step FAFSA guide for you. Your financial aid counselor will help, too.
Federal Financial Aid
Most undergraduate and graduate students who are U.S. citizens or green card holders are eligible for some type of need-based federal aid:
- Grants for full- and part-time study online or on campus
- Subsidized and unsubsidized student loans for undergraduates
- Unsubsidized student loans for graduate students
- Work study
The goal of the aid is to cover the difference between what you or your family can afford to pay and the actual cost of your education.
State Financial Aid
If you’re a New York State resident who’s been accepted into a Monroe undergraduate program, you may be eligible for state financial aid. New York State awards include:
- Need-based grants for full- and part-time study online or on campus
- Scholarships and awards to undergraduates who fall within specific categories (for example, active service veterans and their children, and students who plan to pursue careers in certain sectors)
Monroe College Grants
Monroe College offers grants for undergraduate and graduate students — including international students. Not all of these grants are need-based.
Corporate Partnership Grants
If you’re an employee of one of our 400-plus partner companies and organizations, you’re eligible to receive a grant of up to 20% of your tuition. Corporate Partnership Grants are good for any of our degree programs, both graduate and undergraduate, offered on-campus or online.
Monroe College Scholarships
Monroe College offers merit scholarships and grants to incoming freshmen and transfer students. You may be eligible if you’ve excelled in high school, in your prior college, or if you have a strong athletic record. Special scholarships are available for students pursuing culinary arts and teaching degrees.
Financial Aid Codes
|Federal School Code||004799|
|TAP Bachelor's Code||7518|
|TAP Associate Code||6018|
|TAP Nursing Code||7718|
My Financial Aid Library
My Financial Aid Library will provide information to help you build your financial knowledge and make you a savvy consumer. You’ll find valuable information about:
- Paying for college
- Creating a spending plan
- Tips for saving money
- Setting financial goals
- Protecting your identity
Access the links below and start building your financial knowledge.
My iGrad is a customized interactive web tool for personal financial management, student loan advisement, and career guidance. You can access the site through our MyMonroe app. My iGrad is mandatory for all students in internships. Articles and additional tools are available to assist with internship and job searches.