Financial Terms and Conditions

The Student Records and Financial Services Office encourages students and their families to carefully review their financial aid plan and consider all available options to finance their education. It is the student’s responsibility to review the information below to understand the financial conditions associated with college enrollment and using and maintain financial aid.

  1. Financial Responsibility - All students are required to acknowledge their Financial Responsibility each semester by agreeing to the following statement: I understand that when I register for any class at Alfred State (or a college-designee completes the registration process on my behalf), I am financially responsible to pay all semester charges (tuition, fees and other associated costs) assessed as a result of my registration and/or receipt of services. If I choose not to attend, I will notify the college in writing prior to 4:00 pm the Friday before the first day of classes for the semester. If I fail to notify the college by this deadline, I will be liable for all charges incurred in accordance with the Publishes Institutional Refund Schedule. I understood that if I drop or withdraw from some or all of the classes for which I register (including faculty initiated drops and administrative withdrawals), I am responsible for paying all tuition and fees assessed in accordance with the Published Institutional Refund Schedule. I understand that my Financial Aid Plan is contingent upon enrollment and attendance in each class upon which my financial aid eligibility was calculated. If I drop any class before completion, I understand that my financial aid eligibility may decrease, and I am responsible for any balance due as a result. I understand that if I fail to pay my student account balance by the scheduled due date, I may incur late fees, be prevented from registering for future classes, and my delinquent account may be referred to a collection agency or the New York State Office of the Attorney General for collection. An outstanding student account balance will also prevent the issuance of a diploma.
  2. Financial aid plans are individualized and reflect the student’s eligibility based on information provided by the student and their contributor(s) on the Free Application for Federal Student Aid (FAFSA). Each financial aid plan also factors in the student’s grade level, program of study, individual program, eligibility requirements, and funding levels. Federal financial aid plans are contingent on federal funding levels and are, therefore, subject to change based on Congressional action.
  3. Federal Pell Grant - students have a lifetime limit of 12 full-time semesters (or the equivalent). This policy is retroactive to whenever a student first received a Pell grant and includes payments received at other colleges or universities.
  4. Matriculation - Financial aid recipients must be matriculated students, pursuing college courses leading to a terminal degree (certificate, associate, or bachelor). 
  5. Registration - Financial aid recipients must take college courses which apply directly toward their 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), Federal College Work-Study (CWS), Federal Direct Loans, and the Federal Nursing Loan.
    • New York State residents must be enrolled full-time (12 or more credit hours) to receive aid from New York State Tuition Assistance Program (TAP). TAP is limited to eight full-time semesters, six of which can be sued towards an associate degree. 
    • Some part-time students may qualify for Part-time TAP or Aid for Part-time Study. Check with your financial aid counselor to see if you may be eligible. 
  6. Disbursement - 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 remaining balance of financial aid funds to you.
  7. Satisfactory Academic Progress (SAP) - Financial aid recipients must meet standards each semester to continue receiving aid.
  8. Enrollment Changes –  Any changes in enrollment status, such as number of credit hours registered may result in adjustments to your financial aid plan or semester bill. The student is responsible for the balance of their bill and any late fees accrued as a results.
  9. Alfred State Scholarships - At a later time, the name of a merit scholarship may be updated if you are paired with a donor or organization who has underwritten and contributed to your scholarship award. In many cases, these donor-funded scholarships either partially or wholly fund a merit award; therefore, they are not an addition to an existing merit scholarship.
  10. Outside Grants/Scholarships – Students must notify the 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 plan.
  11. 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 counselor for more information.
  12. Verification – Alfred State is required by federal and state regulations to review financial aid applications through the process of verification. The Student Records and Financial Services department reserves the right to request verification of any data submitted by applicants. Failure to submit your documents in a timely manner may result in a delay or cancellation of your financial aid plans. If during the process data is found to be incorrect, the data may be corrected and the plan revised. If the applicant is determined ineligible for financial aid, the applicant’s plans can be withdrawn. The applicant will then be responsible for payment of all expenses incurred at Alfred State.
  13. Electronic Consent – Alfred State uses a secure website ( to disclose and provide financial aid information to students. In addition, Alfred State corresponds with students using the student’s Alfred State email address to communicate important financial aid information. By applying for financial aid, students voluntarily consent to participate in electronic transactions related to financial aid. Students not wishing to participate in electronic communication must contact the Student Records and Financial Services Office in writing to make alternative arrangements. 
  14. 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 financial aid funds must be returned to the source based on federal regulations unless a student meets one of the withdrawal exemptions for programs offered in modules. Title IV aid includes the Federal Pell Grant, Federal SEOG, Federal Loans, and Federal Direct Parent 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 they are 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 account as determined by the Federal Return of Title IV Aid Calculation.

Financial aid plans 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 plan, 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.