Financial Aid Terms and Conditions

Alfred State’s Student Records and Financial Services Office encourages students and their families to carefully review their financial aid offer and consider all available options to assist students in financing their education. It is the student’s responsibility as a financial aid recipient to review Alfred State’s financial aid Web site and course catalog to further understand his or her financial aid award package and the associated conditions to keep the financial aid award(s).

  1. Financial aid award packages offered to students are individualized and reflect the student’s eligibility based on the information provided by the student and their parents on the Free Application for Federal Student Aid (FAFSA). Each financial aid award package also factors in the student’s grade level, program of study, individual program, eligibility requirements, and funding levels. Federal financial aid awards are contingent on federal funding levels and are, therefore, subject to change based on Congressional action.
  2. Due to recent changes in federal student aid regulations, students who are eligible to receive a Federal Pell Grant will have a lifetime limit of 12 full-time semesters (or the equivalent). This policy is retroactive to whenever a student first received Pell grant and includes payments received at other colleges or universities.
  3. Financial aid recipients must be matriculated students, pursuing college courses leading to a terminal degree (certificate, associate, or bachelor). Students must be enrolled at least half-time (six credit hours) to receive aid from the following federal aid programs: Supplemental Educational Opportunity Grant (SEOG), College Work Study (CWS), Perkins Loan, Direct Stafford Loans, and Nursing Loan.
    • Students who are New York State residents must be enrolled full-time (12 or more credit hours) to receive aid from the New York State Tuition Assistance Program (TAP). TAP is limited to eight full-time semesters, six of which can be used towards an associates degree. Some part-time students may qualify for Part-time TAP or Aid for Part-time Study. Check with your financial aid adviser to see if you may be eligible.
  4. Financial aid will be disbursed in two installments (first half is disbursed for fall semester; the second half for spring semester), unless otherwise noted. Disbursements are made directly to your student account. After the student account is paid in full, the Alfred State’s Student Records and Financial Services Office will issue any remaining balance of financial aid funds to you.
  5. Financial aid recipients must meet Satisfactory Academic Progress (SAP) standards each semester to continue receiving aid. To review these standards, please visit our SAP Policy available online.
  6. Enrollment Changes – Students must notify the Office of Student Records and Financial Services of any changes regarding enrollment status. Any changes in enrollment status, such as number of credits, leave of absence, withdrawal, suspension, etc. may result in adjustments to your financial aid package.The student is responsible for the balance of his/her bill and all late fees resulting from adjustments.
  7. Outside Grants/Scholarships – Students must notify Alfred State’s Student Records and Financial Services Office of any outside grants or scholarships. Receipt of any outside sources of financial aid, including grants or scholarships, may result in adjustments to your financial aid package.
  8. Summer Aid – Summer financial aid is available for students who qualify. In some cases financial aid received in the summer may affect a student’s eligibility for aid during the fall and spring semesters. Contact your financial aid adviser for more information.
  9. Verification – Alfred State is required by federal and state regulations to review financial aid applications through the process of verification. Alfred State Student Records and Financial Services department reserves the right to request verification of any data submitted by parents or applicants. Failure to submit your documents in a timely manner may result in a delay or cancellation of your financial aid awards. If during the process data is found to be incorrect, the data may be corrected and the award revised. If the applicant is determined ineligible for financial aid, the applicant’s award can be withdrawn. The applicant will then be responsible for payment of all expenses incurred at Alfred State.
  10. Withdrawals, Dismissals, Leave of Absence – If a student withdraws, is dismissed or takes a leave of absence prior to the 60% point of the semester, Title IV Funds must be returned to the source based on federal regulations. For the purpose of the return of Title IV funds, Title IV aid is Federal Pell Grant, Federal SEOG, Federal Perkins Loans, Federal Subsidized Stafford Loans, Federal Unsubsidized Stafford Loans, and Federal PLUS Loans. Students who do not complete at least 60% of the semester and are receiving Title IV aid may owe a bill after funds are returned to the source. A student will be reviewed to determine if he or she is an unofficial withdrawal at the end of the semester due to receiving failing grades in all of their course work. If no last date of attendance can be determined through our attendance monitoring process, the period midpoint will be used. The student must repay funds credited to his or her account as determined by the Federal Return of Title IV Aid Calculation.

Financial aid awards are based on information provided by the student and are subject to revisions and/or cancellation at any time if: federal or state regulations change; federal, state, or institutional fund allocations change; estimated family contribution changes; student receives a scholarship, VA educational benefits, etc.; or an error is made in the calculation of your eligibility or award, whether by the federal aid servicer, private loan servicer, or Alfred State. The institution, state, and federal government are absolved of any and all responsibility for funding in the event that a grant and/or a loan or any other financial assistance is based upon fraudulent, inaccurate, or misleading information.