How will my eligibility for financial aid be determined?
Your financial aid eligibility is determined by subtracting your
family’s ability to pay for your educational expenses for the year
(your EFC on your FAFSA), from your cost of attendance (including
tuition, fees, room, board, books, transportation and personal
expenses).
Cost of Attendance - EFC = Financial Need
What
is a Financial Aid “package”?
Your financial aid package is the summary of your financial aid
awards.
Will my financial aid vary from year to year?
Most likely, yes. As your/your parent’s information changes each
year, your family’s expected contribution (EFC) may change. You
need to reapply each spring with the latest FAFSA.
We
have had a drastic change in our family circumstances. Can you
help?
If you have special circumstances that are not addressed on the
FAFSA (for example, lost or reduced salaries, unemployment,
unusually high medical or dental expenses, death of a family
member) please fill out a
special circumstances form. We will review the change in
circumstance and if funds are available, send you a revised award
letter.
When
do I, as a parent, apply for a Federal PLUS loan?
We ask that you apply no earlier than June 1st. We process our
federal student loans, including PLUS, after July 1 of each award
year. This is to assist you with securing the lowest possible
interest rates, as they change each July 1st. You may apply online
for your Federal Direct PLUS loan at www.studentloans.gov.
This is a secure website and a good source for all federal loan
information.
What is your school code for the FAFSA?
Fill out the FAFSA form online:
www.fafsa.ed.gov
Deadline: February 15 for freshmen; regular deadline is March
1.
Our Title IV School Code: 002778
Our NYS TAP Code: 2110
Click here to view the presentation, What You Need to Know About Financial
Aid, in pdf format.
Contact Financial Aid:
email: finaid@msmc.edu
Phone: 845-569-3194
Fax: 845-569-3302