Adult & Graduate Student Financial Aid

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The financial aid process can be overwhelming; let us help you change your mind about the challenges of financial aid. Medaille College has a variety of federal, state, and institutional financial aid programs to assist students in meeting their educational expenses. Our goal is to assist you in financing your education. An applicant's eligibility for aid is determined by an evaluation of the information provided on Free Application for Federal Student Aid (FAFSA), and the New York State Tuition Assistance Program Application. To be eligible for aid, one must be enrolled in a degree or certificate program and a U.S. citizen or permanent resident with at least six credits per semester. To be eligible for TAP, New York residents must be enrolled for 12 credit hours per semester.

Steps for Applying for Financial Aid

Video: View the instructional video workshop for assistance completing the financial aid process: Completing the FAFSA Application, NYS TAP application, Search & apply for scholarships, Complete a Direct Loan Master Promissory Note, Entrance Counseling and Exit Counseling

Direct questions regarding financial aid to sagefinaid@medaille.edu or (716) 631-1061 ext. 5. You can also log onto http://onlinesupport.medaille.edu/finaid to submit a ticket or find immediate answers to commonly asked financial aid questions.



Step One: Applying for a PIN (it will take 3-4 days to get a PIN)

If you have received an award letter you most likely have completed this.

In order to complete your FAFSA on the web, you need to apply for a PIN number that is issued by the Department of Education. If you are a new student applying for Financial Aid you can request one at: www.pin.ed.gov. Make sure to apply for a PIN online, otherwise it will take about two weeks to get the PIN in the mail, delaying your financial aid process. Continuing students use the same PIN each year. If you already have a Federal PIN you can disregard this step. If you misplaced your PIN, you can request a duplicate PIN. If you need more information, you may call the Federal Student Information Center at 1-800-433-3243.

 

Step Two: Completing your FAFSA

Go to FAFSA on the web at: http://www.fafsa.ed.gov/ to apply for financial aid. It takes approximately two weeks to process your FAFSA on the web and six weeks to process your paper FAFSA application. When applying for the FAFSA, please make sure to use the Federal Code for Medaille College (all locations) which is 002777.

 

Step Three: TAP Application from HESC (Undergraduate NYS residents only)

After you complete your FAFSA online, you will be given the option of completing your TAP application at this time. Clicking this link will populate your application form using information from your FAFSA. If you do not choose this option, you may fill out your application at any time by going to: www.hesc.com select NYS resident and select the box marked apply for TAP.

***Please note that you must be enrolled as a full time student (minimum of 12 credit hours) in a term in order to receive the grant (if NYS awards you). The grant is not awarded to students who are enrolled less than full time. In addition, if enrolled in a modular program where all of the classes are not taken at the same time, but are in the accelerated format where one class is taken at a time, then the TAP Grant will not pay to the College until the student  has earned the full time award. As such, the TAP Grant for modular and accelerated programs will not pay until the 3rd class in the term, as this would be where the time status in earned. 

Undergraduate TAP code: 0505

 

Step Four: Applying for Direct Loans

Under the Direct Loan Program your funds are directly received from the United States Federal Government. To receive a direct loan you must first complete your FAFSA. You will also have to complete a direct loan Master Promissory Note. With a Direct Loan the Federal Government through the US Department of Education is your lender. You will also need to complete entrance counseling.

Additional information regarding the direct loan process, the Master Promissory Note and other details is available.

 

Step Five: Employer Tuition Reimbursement Policy

If you will be receiving reimbursement from your employer; you need to send a copy of the reimbursement policy stating how much tuition they will cover to our Office. Often the company's policy can be found on their website or in your employee handbook. If you are unsure ask your Human Resource representative or Supervisor. You can fax, mail or e-mail the policy to our Office. Additionally, if your employer decides to no longer provide reimbursement please let our office know. If you do not receive reimbursement from an employer please disregard this step.

 

Step Six: Financial Aid Award Letter

Medaille College will process your financial aid package once all information is received. If you followed all the steps, your financial aid award letter will be emailed to you and it is also available on MedailleOne.

 

Financial Aid Changes for the 2013-2014 School Year

1. As of October 1st 2013, the sequester increases the origination fees charged to borrowers beyond last year’s increases. The new loan fees are 1.072% for the Direct Subsidized and Unsubsidized Loans and 4.288% for the Direct Parent and Grad Plus loans (that are disbursed on or after December 1st, 2013). Any previous loan currently remains at the 1.05% origination fee, and Federal Direct PLUS loans will have a 4.2% origination fee applied at disbursement.

What does this mean for you?
Depending on the type of loan you are taking out, there will be an increase in the fee taken out before the money is disbursed to the college.

 

Financial Aid Changes for the 2012-2013 School Year

1. Graduate students are no longer eligible for Federal Direct Subsidized loans after July 1, 2012. The Budget Control Act of 2011, signed into law on August 2, 2011, eliminated the Federal Direct Loan subsidy for graduate and professional students effective July 1, 2012. As a result, Summer 2012 is the last term graduate and professional students may be eligible to receive Federal Direct Subsidized loans. Subsidized loans borrowed before July 1, 2012 will not be affected. What does this mean for you? Graduate students will only be able to take out unsubsidized loans (which accrue interest while you are in school), but will still be eligible for the same overall loan amounts. Graduate students will now be eligible for up to $20,500 in unsubsidized loans per year.

2. All Federal Direct loans originated after July 1, 2012 will have an increased Origination Fee.

The Budget Control Act of 2011, signed into law on August 2, 2011, eliminated the upfront rebate for all federal direct loans. Starting July 1, 2012, Federal Direct Subsidized and Unsubsidized loan disbursements will have a 1% origination fee, and Federal Direct PLUS loans will have a 4% origination fee applied at disbursement.

What does this mean for you?

Depending on the type of loan you are taking out, there will be an increase in the fee taken out before the money is disbursed to the college.    

3. All continuing students enrolled in an Accelerated Learning Program (MOL, MBA, TRK, BBA) will see an increase in resource fees beginning Fall 2012.

What does this mean for you?

Although your tuition rates will continue to be the same, your resource fees for books and supplies will be increasing. Rates are dependent on each program. Please feel free to contact the Student Accounts Office if you have any further questions. They can be reached at: (716) 932-2599.

 

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