Bronx

Monroe College's Bronx campus is an ideal urban campus located in the bustling Fordham section.

New Rochelle

Located in downtown New Rochelle, the Monroe College New Rochelle campus is nestled in a diverse, thriving suburban community in Westchester County.

St. Lucia

The scenic Monroe College St. Lucia campus in Barnard Hill Castries on the Caribbean island of St. Lucia combines the best of many worlds.

Queens

Monroe's Queens Extension Site is located in the heart of downtown Flushing, a vibrant and ethnically mixed district of Queens.

  • Federal Aid Eligibility

    Student Eligibility Requirements for Federal Financial Aid

    • 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 (GED) 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
    • 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 have resolved any drug conviction issues
    • Must have no record of conviction for sex offenses
    • Must not have been convicted of possession or sale of illegal drugs during a period of enrollment in which Federal financial aid was received.

    Verification

    The U.S. Department of Education may select a student for verification. Selected students will be required to document specific items reported on the student’s FAFSA application.

    Failure to submit documentation in a timely manner may result in the loss of federal aid.

    FAFSA and TAP Filing Tips:  Avoid application errors. Use this guide to help you answer the most difficult questions.

  • Federal Financial Aid

    To make college more affordable, the federal government offers a variety of need-based grants and loans for qualified students.

    Monroe's Federal Financial Aid school code is 004799.

    Pell Grant Program

    This need based award is determined by the federal needs analysis from information provided on the FAFSA. Awards are determined by federal Department of Education allocations. For the 2014-15 academic year, full-time student annual awards will range up to $5730. Students can only receive Pell awards for 12 full-time semesters. 

    Supplemental Educational Opportunity Grant (SEOG)

    These need based awards are determined by the federal needs analysis from information provided on the FAFSA. Priority pools based on a FAFSA filing date have been established for the awarding of SEOG funds. 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. Award amounts may vary based on student enrollment status and availability of funds.

    College Work-Study Program (CFWS)

    These need based awards enable students to work in order to earn funds to help pay for their cost of attendance expenses and are determined by the federal needs analysis from information provided on the FAFSA. 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 and job placement is contingent upon successful completion of OCA requirements and the availability of a job assignment.

    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.

    Loan Terms are determined by federal statute and may vary by the year student obtains their initial loan.

    Students must complete a Master Promissory Note (MPN) and an Entrance Interview and loan counseling session by going to the website studentloans.gov to ensure that all borrower rights and responsibilities are understood. 

    Before loan funds can be disbursed, students must complete the Entrance Interview and loan counseling session; Master Promissory Note (MPN).


    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 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. Loan Terms: For disbursements made from July 1, 2014 through June 30, 2015, the interest rate for undergraduate subsidized Direct Loans is a fixed 4.66%.

    Loan Terms are determined by federal statute and may vary by the year student obtains their initial loan.

    Federal Direct Unsubsidized Student Loan Program

    Unlike the subsidized loan program, interest on unsubsidized loans begins when the loan is disbursed and is paid by the borrower, not the federal government. 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 are determined by federal statute and may vary by the year student obtains their initial loan.

    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 repayment begins within 60 days of disbursement of funds. PLUS loan borrowers are subject to a credit check. If approved, parents are required to complete a Master Promissory Note (MPN). If a PLUS Loan denial is received, a student is eligible for an additional $2,000-$2,500 per semester depending on grade level, in unsubsidized loan funds.

    Loan terms are determined by federal statute and may vary by the year student obtains their initial loan.

    Entrance Counseling/interview

    In accordance with federal regulations, first-time Direct loan borrowers must complete entrance counseling sessions on the web at studentloans.gov. During this counseling session students will learn about the terms of the loan and their rights and responsibilities as loan borrowers. No loans can be credited to a student’s account until entrance counseling is complete.

    Exit Counseling/interview

    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 studentloans.gov.

    During this 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 matriculated 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 studentloans.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 form from the Student Financial Services Office and the form to their lender upon approval of the alternative, non-federal loan.

    Standards of Academic Progress

    Click here for the Standards of Academic Progress.

    Financial Aid FAQs

    Visit the financial aid frequently asked questions for answers to commonly asked questions.

     

    Financial Aid Resources

    Click here to learn more about financial aid resources.