FINANCIAL AID SERVICES SEMESTER AND SUMMER STUDENT AID RESOURCES - - PowerPoint PPT Presentation

FINANCIAL AID SERVICES

SEMESTER AND SUMMER STUDENT AID RESOURCES PRESENTATION

FEBRUARY 19, 2019

PRESENTERS

Alkida Shtembari

Assistant Director and Scholarships Specialist

Elizabeth (Betty) Riquez

Director

ATTACHMENTS

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1.How to Apply for Financial Aid 2.Types of Student Aid 3.New York Excelsior Scholarship 4.External Scholarship Resources

Summer at Baruch

 WHAT’S YEAR ROUND PELL (YRP) 150%  BACK-END VS. FRONT-END PELL  SUMMER FEDERAL DIRECT LOANS & PRIVATE LOANS  SUMMER TAP  EXTERNAL SCHOLARSHIPS

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YEAR ROUND PELL 150%

 The U.S. Education Department announced that year-round Pell

Grants will be available. This decision allows students to graduate sooner by taking summer classes.

 The program, known as Year Round Pell, allows students to

receive a Pell Grant for up to 150 percent of their current scheduled award.

 What does this mean? If a student is awarded $6,095 for the

year, the student may receive up to 3,047.50 for attending college in the summer. This additional Pell usage in the current FAFSA year requires enrollment of 6 credits in the Summer. However, students enrolling in less than 6 credits can use Pell from the upcoming FAFSA year.

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YEAR ROUND PELL (YRP)150% - ELIGIBILITY

 Have completed a 2018-2019 FAFSA  Be Pell Grant Eligible  Enroll for at least 6 half-time (6+ credits)  Be meeting Satisfactory Academic Progress

(SAP)

 Comply with Verification Process (if selected)  Have lifetime Pell Grant eligibility remaining

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YEAR ROUND PELL - VERIFICATION

 The role of the college in the verification process  Acceptable verification documents  Failure to complete verification

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EXAMPLES OF YEAR ROUND PELL

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ADDITIONAL PELL: EXAMPLE 1- SEMESTERS

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Student must be enrolled for at least Three Quarters in the spring to tap into the Additional 50% Pell Grant

• Enrolled Half Time Summer

Term 25% Eligible Before the student can receive any Additional Pell (up to 50%), the student must use up the 100% of the original Scheduled Award and be enrolled at least half-time.

• Enrolled Full Time Fall

Term 50% Eligible

• Spring Three Quarters

Summer Term 37.5% Eligible

75% from the Initial 100% Scheduled Pell Award used between the fall and spring 25% remaining from the Initial 100% Scheduled Award + 12.5 % from the Additional Pell =37.5% 75% + 37.5% = Total 112.5%

*Note: Pell eligible students registered less than half-time (i.e. 5.5 credits or below) are NOT eligible for the 150% Pell for the summer and will only be eligible for a Pell award if they did not exhaust their Pell Grant eligibility prior to the summer

6 crd

12 crd 9 crd

18-19

Front-end Pell 100%

Summer 18 3 Credits 12.5% Pell deducted from spring term

Fall 2018 12 credits 50% Pell Spring 2019 9 credits 37.50% remaining since student already used 12.5% in summer 18

18-19

Back-end Pell 100%

Fall 2018 9 Credits 37.5% Pell Spring 2019 9 credits 37.5% Pell Summer 2019 6 credits 25% remaining from the scheduled 100% Pell Award

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BACK-END VS. FRONT-END PELL

Summer Federal Direct Loans & Private Loans

 To be eligible for Summer Federal Direct Loans, students must:

 Be enrolled at least half-time (6 credits)  Have a completed FAFSA loaded in CUNYfirst  Meet Satisfactory Academic Progress (SAP)  Have not exhausted their loan eligibility

 Private Loans available through loan services such as: Navient, Sallie Mae,

Wells Fargo, etc.

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SUMMER TAP ELIGIBILITY

 To be eligible for Summer TAP

, students must:

 have been enrolled full time in the prior spring  have earned a combined total of 24 credits in the prior two semesters

(transfer credits do not apply)

 meet all of the NYS Satisfactory Academic Progress Guidelines  have not exhausted their TAP eligibility

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EXTERNAL SCHOLARSHIP RESOURCES

• Outside scholarships, also known as private

scholarships, are not managed or administered by Baruch College, but by

• utside entities. Although Baruch does not

award these funds, federal, state and Baruch policies require that the university use outside scholarships as a resource against federal need and cost of

• attendance. Scholarship checks are received

by the Bursar’s Office and submitted to Financial Aid Services for approval.

• Submit an application directly to the

following sites:

• The College Board
• Collegenet.com
• Scholarships.com
• http://college.usatoday.com/2016/0

1/06/best-scholarship-resources/

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WEBSITES

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• FAFSA.GOV
• BARUCH FEDERAL SCHOOL CODE: 007273
• FSAID.GOV
• CREATE/RETRIEVE FSAID
• HESC.ORG
• BARUCH NYS SCHOOL CODE: 1409
• BARUCH.CUNY

.EDU/FINANCIALAID/

• FINANCIAL AID SERVICES WEBSITE

Q&A

Questions? Please contact us!

• Admitted students must use their Baruch

email and include their full name and CUNYfirst EMPLID

• E-mail: financial.aid@baruch.cuny.edu