Federal Programs

For all federal aid programs listed applicants must file the Free Application for Federal Student Aid (FAFSA). The application can be completed online at https://fafsa.ed.gov

Federal Pell Grants

Selection of Recipients and Allocation of Awards

The federal Pell Grant program is an entitlement program. Eligibility and award amount are based on financial need. The applicant must be matriculated as an undergraduate student, for at least 3 credits at an approved postsecondary institution and must need financial assistance to continue his or her education. A student may receive grants for the period required to complete a first baccalaureate degree but for no more than 12 semesters (for first-time Pell grant recipients on or after July 1, 2008). Awards may be used for tuition, fees, books, and living expenses.

Award Schedule

Awards range from $593 to $5,920 for the 2017-2018 academic year. The amount of the award is affected by cost of attendance and full- or part-time enrollment status.

Responsibilities of Recipients

The student must continue to make satisfactory academic progress in the program in which he or she is matriculated. The student must not owe any refunds on Pell grants or other awards paid, or be in default on repayment of any student loan.

Before receiving payment, Ithaca College must have on file, by electronic means, an accurate official student aid report (SAR) which is generated from the student's FAFSA. Awards are credited to the student’s account.

Federal Supplemental Education Opportunity Grants (SEOG)

Selection of Recipients and Allocation of Awards

The applicant must

  1. be a U.S. citizen or an eligible noncitizen;
  2. be an undergraduate matriculated at an institution participating in the federal campus-based programs;
  3. if applicable, be registered with the Selective Service;
  4. demonstrate exceptional financial need relative to other applicants at the institution; and
  5. be a Pell grant recipient. The applicant must not be in default or refund status for any federal Title IV aid at any institution.

Recipients and award amounts are determined by the Office of Student Financial Services.

Award Schedule

The award ranges from $100 to $4,000, depending upon funding. A student may receive grants for the period required to complete a first baccalaureate degree.

Responsibilities of Recipients

The student must continue to make satisfactory academic progress.

Federal Direct Student Loan — Subsidized

Application Procedures

Ithaca College processes applications electronically. Borrowers may accept a loan offer using their HomerConnect access online once they complete the e-communications requirement. Once accepted, the College transmits pertinent loan and entrance counseling information to the federal Department of Education (US DOE). A borrower utilizes the US DOE Direct Loan website to complete a master promissory note. Repeat Direct Loan borrowers who have completed the entrance counseling and the master promissory note while attending Ithaca College need not complete another entrance counseling nor another promissory note.

HomerConnect (https://homerconnect.ithaca.edu/)

Federal Direct Loans (http://www.studentloans.gov)

Selection of Recipients and Allocation of Awards

The Direct Loan is an entitlement program in which all eligible applicants can obtain a loan. To be eligible for a guaranteed Direct Loan, a student must

  1. be a U.S. citizen or eligible non-citizen;
  2. be enrolled at least half-time or accepted for enrollment in a degree, certificate, or other program leading to a recognized credential; or be enrolled in a course of study necessary for enrollment in a degree or certificate program, approved college, university, or other postsecondary institution in the United States or a foreign country;
  3. not be in default or refund status for any federal Title IV program at any institution;
  4. be determined to be eligible or ineligible for a Pell grant;
  5. if applicable, be registered with the Selective Service;
  6. have a Social Security number;
  7. demonstrate financial need; and meet any other requirements as outlined by federal law or regulation.

1.069% of the loan amount borrowed for federal “loan origination and insurance fees” will be withheld by the federal loan processor from the amount borrowed prior to disbursement.

At Ithaca College, funds may not be disbursed until after the drop/add period has passed. Loan proceeds are made in two disbursements regardless of the loan period. Funds must be disbursed by electronic fund transfer (EFT), which allows the funds to be credited directly to the student’s account.

Loan Schedule

An undergraduate may borrow up to $3,500 per academic year for the first year of study, $4,500 for the second (30-59 credits completed), and $5,500 for each additional undergraduate year (60 or more credits completed), up to a total of $23,000.

A student receiving a federal Direct student loan is eligible for a full-interest subsidy during the time he or she is in school at least half-time.

Responsibilities of Borrowers

The student must continue to maintain satisfactory academic progress. The interest rate is a fixed rate of 4.45% for loans that are first disbursed between July 1, 2017 and June 30, 2018. Repayment begins six months after the student ceases to be enrolled at least half-time.

Various deferments allowing postponement of repayment are available depending on when the student received the first loan. Periods of deferment are limited to those who are

  1. in school at least half-time;
  2. on graduate fellowships or rehabilitation training;
  3. unemployed;
  4. serving on active duty during a war, being on active duty as a member of the national guard, or
  5. in economic hardship.

For specific information students should consult the following website. (http://studentloans.gov/myDirectLoan/index.action)

On ceasing to be at least a half-time student, the borrower must make formal arrangements with the Direct Loan servicer to begin repayment. The following regulations apply:

  1. Standard, extended, graduated, income-based, and income-contingent repayment plans are available to assist borrowers in meeting repayment obligations. Under unusual and extenuating circumstances, the loan servicer, on request, may permit other payment arrangements.
  2. The standard repayment period is 10 years, unless the repayment option provides for a longer repayment period.
  3. Repayment in whole or part may be made any time without penalty.
  4. Loans may be consolidated, resulting in longer repayment terms and smaller monthly payments.

Federal Direct Student Loan — Unsubsidized

Application Procedures

Application procedures are the same as for the subsidized federal Direct Loan.

Selection of Recipients and Allocations of Awards

Eligibility is the same as for the subsidized federal Direct Loan, except no demonstration of financial need is required. This program is available to students who may not qualify for subsidized federal Direct Loans or for only partially subsidized Direct Loans.

The interest rate is fixed at 4.45%. The origination fee is the same as for the subsidized Direct Loan.

Loan Schedule

The schedule is the same as for the subsidized federal Direct Loan. However, if the student is receiving a subsidized federal Direct Loan, the combination of the two loan programs cannot exceed the annual loan limit. Independent undergraduate students may borrow an additional $4,000 for the first and second year (fewer than 60 credits earned), and an additional $5,000 per year in subsequent years. A student may also receive an additional $2,000 beyond the annual loan limit effective July 1, 2008.

Responsibilities of Borrowers

The requirements are the same as for the subsidized federal Direct Loan. However, the borrower is responsible for interest that accrues while he or she is in school. Interest may be capitalized.

Federal Direct Parent Loan for Undergraduate Students (PLUS)

Application Procedures

In order to apply for a Parent PLUS loan, the student for whom the parent is borrowing must have a valid Free Application for Federal Student Aid (FAFSA) on file with Ithaca College. The parent borrower must visit the US Department of Education’s (US DOE)Direct Loan website, Studentloans.gov, and complete the ‘Request Direct PLUS Loan’ for a ‘Parent PLUS’ loan on behalf of that student. The US DOE will send the request to Ithaca College electronically for further processing. If the loan is approved, the parent borrower must also complete a PLUS Master Promissory Note (MPN) through Studentloans.gov. A parent borrower may also be required to complete an online PLUS Counseling session as determined by the US DOE.

Selection of Recipients and Allocation of Awards

A borrower must be the parent or stepparent on the FAFSA of a financially dependent undergraduate. Student eligibility criteria are comparable to those for federal Direct student loans, except Direct PLUS loans require no financial need test. An origination fee of 4.276 percent will be deducted from the loan amount.

Loan Schedule

The maximum of the Direct PLUS loan is the total cost of attendance, minus other financial aid.

Responsibilities of Borrowers

The student must continue to maintain satisfactory academic progress. A credit check is required. Repayment begins 60 days after the loan is fully disbursed. Loan funds are electronically disbursed to the Ithaca College student account. The interest rate is a fixed rate of 7% for loans that are first disbursed between July 1, 2017 and June 30, 2018.

Federal Perkins Loan

Application Procedures

Ithaca College’s preferred application process is electronic. The College transmits pertinent information to its Perkins loan servicer and notifies the borrower. The borrower may then complete the master promissory note and the entrance counseling session electronically. If the servicer is unable to validate the student's identity, he/she must sign a paper promissory note. Repeat borrowers who have used the master promissory note need not complete another one. A borrower may elect to use a paper promissory note but must advise the Office of Student Financial Services in writing. Information on loan cancellation provisions for borrowers who go into certain fields or specified military duty is available from the loan servicer.

Selection of Recipients and Allocation of Awards

The applicant must

  1. be a U.S. citizen or eligible noncitizen;
  2. be enrolled in an undergraduate program as a matriculated student at an institution participating in the federal campus-based programs;
  3. if applicable, be registered with the Selective Service; and
  4. demonstrate exceptional financial need relative to other applicants at the institution.

The applicant must not be in default or refund status for any federal Title IV aid at any institution.

Financial need is determined by standardized need analysis, subject to adjustments by institutions. Recipients and loan amounts are determined by institutional financial aid administrators.

Award Schedule

Students in a program leading to a bachelor’s degree may borrow up to $5,500 per year. The aggregate limit for undergraduate study is $27,500 with no more than $11,000 in the first two years of study.

Responsibilities of Borrowers

The student must continue to maintain satisfactory academic progress. The current interest rate, payable during the repayment period, is 5 percent on the unpaid principal. Repayment begins nine months after the student ceases to be enrolled at least half-time and may extend over a period of 10 years.

Information on deferments and loan cancellations for certain categories of borrowers is available from the Office of Student Financial Services.

For any of the federal loan programs (e.g., Perkins, Direct PLUS, Direct), if a borrower disputes the terms of the loan in writing and the lender (or institution) does not resolve the dispute, the borrower may contact the U.S. Department of Education, FSA Ombudsman, 830 First Street, NE, Mail Stop 5144, Washington, DC 20202-5144, by phone at 877-557-2575, by fax at 202-275-0549, or online at http://studentaid.ed.gov/sa/repay-loans/disputes.

Federal Work-Study (FWS) Program

The FWS program provides employment opportunities for students.

Selection of Recipients and Allocation of Awards

The applicant must

  1. be a U.S. citizen or eligible noncitizen;
  2. be enrolled in an undergraduate or first-professional program as a matriculated student at an institution participating in the federal campus-based programs;
  3. not be in default or refund status for any federal Title IV aid at any institution;
  4. if applicable, be registered with the Selective Service; and
  5. demonstrate financial need.

Award Schedule

The postsecondary institution arranges jobs, on or off campus, with either public or not-for-profit agencies. Students are encouraged to seek positions in community service areas. Factors considered by the student financial services office in determining whether, and for how many hours, the recipient may work under this program include financial need, class schedule, academic progress, and the student’s health status.

Level of salary must be at least the federal minimum wage. The maximum salary allowed depends on the nature of the job and the applicant’s qualifications.

Responsibilities of Recipients

The student must continue to maintain satisfactory academic progress. See the “Academic Standing Information” on the financial aid website for more information. (http://www.ithaca.edu/finaid/policies/)

Federal GEAR UP Scholarship

Application Procedures

Students who are interested in this federal program must contact the state agency responsible for administration of the program.

Selection of Recipients and Allocation of Awards

To receive a GEAR UP (Gaining Early Awareness and Readiness for Undergraduate Programs) Scholarship, an eligible student must

  1. be less than 22 years of age at the time of first scholarship award;
  2. have received a secondary school diploma or its recognized equivalent on or after January 1, 1993;
  3. be enrolled or accepted for enrollment in a program of undergraduate instruction at an institution of higher education that is located within the state’s boundaries; and
  4. have successfully participated in the early intervention component of a GEAR UP or NEISP project, or have participated in a federal TRIO program.

Individual states may determine the maximum amount of an eligible student’s scholarship. The minimum amount of a scholarship must not be less than the lesser of the following: 75 percent of the average cost of attendance for an in-state student in a four-year program of instruction at a public institution in his or her state; or the maximum federal Pell grant for such fiscal year.

Source: GEAR UP, Office of Postsecondary Education, U.S. Department of Education, 1990 K Street, NW, 7th Floor, Mail Stop K-OPE-7-7100, Washington, DC 20006. See the GEAR UP website for more information. (http://www2.ed.gov/programs/gearup/index.html)

Reserve Office Training Corps (ROTC)

The U.S. Reserve Officer Training Corps (ROTC) programs include the U.S. Army, Navy-Marine Corps, and Air Force ROTC programs. These programs are offered at host colleges throughout the nation, including many colleges located in New York State. Ithaca College participates only with the Army and Air Force ROTC programs in partnership with Cornell University. To inquire into Army ROTC call 607-255-4000; for Air Force ROTC, call 607-255-4004.

Each of the three programs has separate application procedures, eligibility requirements, scholarship award schedules, and service obligations. All programs offer merit-based scholarships to undergraduates, with some assistance available for graduate students, depending on the service.

Additional information about the different service programs and a list of the colleges hosting them can be obtained through the following websites:

Army ROTChttp://armyrotc.cornell.edu/

Navy ROTChttp://www.nrotc.navy.mil

Air Force ROTChttp://www.afrotc.com

Veterans Administration (VA) Educational Benefits

Many programs of educational assistance benefits are available to those who have served on active duty in the military and to their families. Detailed information on all veterans’ benefits can be obtained from regional and local Veterans Administration offices or from VA headquarters by telephone at 1-888-442-4551. In New York State, there are VA centers in Albany, Babylon, Binghamton, the Bronx, Brooklyn, Buffalo, Harlem, Hicksville, Middletown,  Manhattan, Rochester, Staten Island, Syracuse, Watertown, White Plains and Woodhaven.

Complete information on veterans’ benefits may be found at the U.S. Department of Veterans Affairs website, http://www.gibill.va.gov, or at a local veterans affairs office.

Post-9/11 GI Bill

This program provides up to the cost of tuition and fees, not to exceed the national maximum, a monthly allowance for living expenses and a stipend for books and supplies. Certain students may be eligible for a one-time payment of $500 if they are relocating from highly rural areas.

All-Volunteer Force Educational Assistance (Montgomery GI Bill Active Duty)

This program primarily serves individuals who entered military service on or after July 1, 1985. The program allows basic pay to be reduced monthly for the first 12 months of service in order to be eligible for as much as 36 months of educational assistance. A Selected Reserve Educational Assistance Program is also available to help members of the Selected Reserve pay for study leading to an undergraduate degree, or for nondegree programs at institutions of higher learning. Educational assistance must be used within 10 years of a veteran’s first date of discharge or release from service, with some exceptions.

Survivor's and Dependents' Educational Assistance

A monthly allowance is available to help pay the educational expenses of spouses, surviving spouses, or dependent children between the ages of 18 and 26 of service persons who are permanently and completely disabled from service-connected causes, who have died as a result of service or as a result of service-connected disabilities, who are missing in action, or who have been forcibly detained by a foreign nation for more than 90 days.