Financial Aid

Financial Aid

Introduction

We understand that filing for financial aid is a complex process. While the primary responsibility for college expenses is up to you and your family, we are aware of just how challenging that can be. That is why we try to make it easier.

Smart Track Logo

Financial literacy courses are available through Smart Track Financial Literacy where you can learn about a wide variety of financial matters such as budgeting, smart borrowing, and identify theft. First time users will need to create an account.

SUNY Net Price Calculator

Use the SUNY Net Price Calculator for an early estimate of financial aid and costs.

COVID FAQ

We understand you may have questions related to how COVID-19 has impacted your student account and financial aid eligibility. Please review our COVID FAQ for Student Accounts for more information.

Excelsior Scholarship

The Excelsior Scholarship Application for students attending during the 2021-22 academic year is now available! This program is open to students whose annual household federal adjusted gross income is $125,000 or less. Students can apply until Aug. 31, 2021.

To apply, students must meet eligibility requirements, including, but not limited to:

  • Be residents of New York State
  • Complete 30 (24 for ASOP/EOP) credits per year towards their program of study
  • Graduate with an Associate's Degree in two years or a Bachelor's Degree in four years

Students eligible to apply through the NYS DREAM Act can apply at https://nysdream.applyists.net.

Applying for Federal and State Aid

  1. Create an Account (FSA ID)
    • Dependent students and at least one parent must each apply for a Federal Student Aid ID (FSA) issued by the U.S. Department of Education. Independent students need only one FSA ID.
    • The account is used to authenticate your identity and are used as an electronic signature.
  2. Gather Your Information
    • Have the necessary tax returns and other income documentation at hand. If taxes are late getting prepared, you can estimate income and make corrections when actual data is available.
  3. Complete the Free Application for Federal Student Aid (FAFSA)
    • Visit the Federal Student Aid website to start the FAFSA application.
    • Complete the online FAFSA and print the confirmation page as receipt of the application.
      • Alfred State's Title IV code is: 002854
    • Filing early can make a difference in your financial aid plan, so be sure to complete the FAFSA beginning October 1st for the upcoming academic year.
    • Campus-based funding (Federal Supplemental Educational Opportunity Grant (SEOG), Federal Nursing Loan, Federal College Work Study) is planned according to eligibility guidelines established by the federal government in conjunction with policies and procedures of the Office of Student Records and Financial Services.
  4. Complete New York State Aid Applications
    • From the FAFSA confirmation page, New York State residents are provided with a link to apply for the NYS Tuition Assistance Program (TAP). You can also access the online TAP application directly.
    • Alfred State's TAP school codes are:
      • 3005 - Certificate Programs
      • 3005 - Associate Degree Programs
      • 6005 - Baccalaureate Degree Programs
    • Apply for additional New York State scholarships such as the Excelsior Scholarship. Select “NYS Scholarships & Awards” for application information and timelines
  5. Review your Student Aid Report (SAR)
    • Login to your Account approximately five (5) days after submitting your FAFSA.  Review your SAR and make any necessary corrections.
  6. Read Your Mail/Email
    • The Student Records and Financial Services Office communicates with students via email and in some instances postal mail with instructions on applying for aid as well as requests for information. Be sure to read any notices that are sent and respond promptly to all requests.

Your Financial Aid Plan

All students are considered for all types of aid, and financial aid plans are made according to a student's eligibility in each program as determined by federal and state regulations. Plans are determined by financial need based on data provided by the student on the FAFSA. Financial aid is conditional upon continuation of legislative authority and availability of appropriated funds. Financial need is calculated using the following formula:

Cost of Attendance - Expected Family Contribution = Financial Need

Plans are created for accepted students with a valid FAFSA on file with the college. Students are notified by post card and via their Alfred State email account when their plans are available for viewing online. Instructions are provided to students on how to accept or decline their aid, how to check for incomplete financial aid requirements, and how to apply for the different types of aid being planned.

Types of Financial Aid

Generally, financial aid is categorized into three types.

  • Grants and Scholarships are considered free money and do not need to be repaid.
  • Loans do need to be repaid and should be considered as serious commitments.
  • Federal Work-Study is a way for students to earn money through a part-time job in order to contribute to their college costs.

Which type of funds you are planned with will depend on your financial need, your eligibility based on each fund's specific criteria, and availability of funds at the time your FAFSA application is received by the Student Records and Financial Services Office.

More Information

cover of the financing your college education guide, view of student wearing commencement cap
Financing Your
College Education

(PDF)

More information on topics such as applying for and processing aid, college costs, scholarships, types of aid, and a detailed financial aid timeline is available in our Financing Your College Education Resource Guide.