Academic Catalog

Aid Programs

Ithaca College Scholarships and Grants

Ithaca College need-based scholarships and grants are available only to physical therapy and occupational therapy students. Students must apply annually to the financial aid office before March 1.

All recipients must demonstrate financial need, which is determined by using information from the Department of Education via the Free Application for Federal Student Aid (FAFSA). Other criteria, such as academic performance or promise, special talents, or other characteristics that Ithaca College deems of value, are considered for the Ithaca College scholarship program only. The FAFSA priority date is March 1.

For more information about the FAFSA, please visit the FAFSA website.

Graduate business majors are automatically considered for any available non-need-based Ithaca College M.B.A. scholarships and need not submit the FAFSA to be considered for non-need based awards.

Federal Programs

Detailed information on Federal Direct Loans may be found on the Federal Student Aid loans website.

FEDERAL DIRECT LOANS -- UNSUBSIDIZED

Application Procedures

Ithaca College processes applications electronically. First-time borrowers are required to accept an offer of a Direct unsubsidized loan via HomerConnect. In addition, new borrowers are required to complete a Master Promissory Note (MPN), which is valid for 10 years. Repeat borrowers who have used the Master Promissory Note need not complete another promissory note. New borrowers must complete Entrance Counseling, a tool designed to educate borrowers on the rights and responsibilities of a federal loan borrower.

Selection of Recipients and Allocation of Awards

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

  • demonstrate financial need for need-based federal student aid programs;
  • be a U.S. citizen or an eligible noncitizen;
  • have a valid Social Security number (with the exception of students from the Republic of the Marshall Islands, Federated States of Micronesia, or the Republic of Palau);
  • be enrolled or accepted for enrollment as a regular student in an eligible degree or certificate program;
  • be enrolled at least half-time to be eligible for Direct Loan Program funds;
  • maintain satisfactory academic progress in college or career school;
  • provide consent and approval to have your federal tax information transferred directly into your 2024-25 Free Application for Federal Student Aid (FAFSA®) form, if you're applying for aid July 1, 2024, to June 30, 2025;
  • sign the certification statement on the Free Application for Federal Student Aid (FAFSA®) form stating that
    • you are not in default on a federal student loan,
    • you do not owe money on a federal student grant, and
    • you will use federal student aid only for educational purposes; and
  • show you’re qualified to obtain a college or career school education by
    • having a high school diploma or a recognized equivalent such as a General Educational Development (GED);
    • completing a high school education in a homeschool setting approved under state law (or—if state law does not require a homeschooled student to obtain a completion credential—completing a high school education in a homeschool setting that qualifies as an exemption from compulsory attendance requirements under state law); or
    • enrolling in an eligible career pathway program and meeting one of the "ability-to-benefit" alternatives.

There is a loan origination fee that will be deducted from the amount borrowed prior to disbursement. Direct loans first disbursed between October 1, 2023, and September 30, 2024, will have a 1.057% origination fee applied to the gross disbursement. 

At Ithaca College funds may not be disbursed until after the drop/add period has passed. Funds must be disbursed by electronic fund transfer (EFT), which allows the funds to be deposited directly into the student's account.

Loan Schedule

A graduate student may borrow an annual maximum of $20,500.

Responsibilities of Borrowers

The student must continue to maintain satisfactory academic progress. The interest rate is a fixed rate of 8.083% for Graduate Direct Unsubsidized Loans that are first disbursed on or after July 1, 2024, and before July 1, 2025. 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. For first-time borrowers on or after July 1, 1993, periods of deferment are limited to those who are:

The following is a list of different types of deferments: 

  • Economic Hardship
  • Graduate Fellowship
  • In-School
  • Military Service and Post-Active Duty Student
  • Parent PLUS Borrower
  • Rehabilitation Training
  • Unemployment

Students should contact the loan servicer for specific information.

If a student applies for more than one loan, subsequent applications must be made to the lending institution where the original loan was made.

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

  1. Standard repayment, graduated repayment, extended repayment, revised pay as you earn repayment (REPAYE), pay as you earn repayment (PAYE), income-based repayment (IBR), income-contingent repayment (ICR), and income-sensitive repayment plans are available to assist borrowers in meeting repayment obligations. 
  2. The standard repayment period is 10 years.
  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 PLUS Loan for Graduate Students

Application Procedures

Ithaca College processes applications electronically. A credit check is required. Borrowers interested in Direct PLUS loans for graduate students must complete a Direct PLUS loan application for Graduate/Professional students on the Federal Student Aid website. Borrowers will receive an instant credit decision from the US Department of Education; Ithaca College will be notified of the completed request within 72 hours. Credit approved PLUS loans will be added to student’s financial aid as applicable. The student is also required to complete a Master Promissory Note. Repeat borrowers who have used the Master Promissory Note need not complete another promissory note.

Selection of Recipients and Allocation of Awards

A borrower must be a graduate student. Student eligibility criteria are comparable to those for federal direct student loans, and the student must complete a Free Application for Federal Student Aid (FAFSA). An origination fee of 4.228% will be deducted from the loan amount for PLUS loans first disbursed between October 1, 2023 and September 30, 2024. 

Loan Schedule

The maximum of the Graduate 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. Loan funds are disbursed electronically to the student's billing account. The interest rate is a fixed rate of 9.083% for Graduate PLUS loans that are first disbursed on or after July 1, 2024, and before July 1, 2025. Repayment for Graduate PLUS loans begins six months after the student ceases to be enrolled at least half-time.

Federal Work-Study Program (FWS)

Federal Work-Study provides part-time jobs for undergraduate and graduate students with financial need. The program encourages community service work and work related to your field of study. To receive funds, you will need to be awarded work-study and secure a job. The funds you earn are not applied directly to your tuition.

Selection of Recipients and Allocation of Awards

The applicant must:

  • be a U.S. citizen or eligible noncitizen;
  • be enrolled in an undergraduate, graduate, or first-professional program as a matriculated student at an institution participating in the federal campus-based programs;
  • not be in default or refund status for any federal Title IV aid at any institution;
  • if applicable, be registered with the Selective Service; and
  • demonstrate financial need as determined by the Free Application for Federal Student Aid (FAFSA).

Award Schedule

The College 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 financial aid office in determining whether, and for how many hours, students may work under this program include financial need, class schedule, academic progress, and health status.

The level of salary for FWS positions must be at least the minimum wage. The maximum salary allowed depends on the nature of the job and the student's qualifications.

Veterans Administration 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, or at a local veterans affairs office.

Education Programs

Veterans, reservists, and dependents are separated into different categories or “chapters” that define eligibility requirements and determine benefits. Read more about the various chapters to determine which one may apply to you. Use the links provided to find out more about each benefit type.

Forms, information, and assistance in applying for benefits are available at all VA offices. Applicants approved for benefits by the Veterans Administration must process papers through the Ithaca College Registrar's office.

Chapter 30: Montgomery GI Bill - Active Duty (MGIB)
The Montgomery GI Bill Active Duty (MGIB-AD) can help you pay for education and training programs. If you’ve served at least 2 years on active duty, find out if you qualify for the MGIB-AD program. Review the categories on the VA website referenced above to see if you qualify.

Chapter 31: Vocational Readiness and Employment
You may receive Veteran Readiness and Employment (VR&E) (Formerly known as Vocational Rehabilitation and Employment) services to help with job training, education, employment accommodations, resume development, and job seeking skills coaching.

Chapter 32: Veterans' Educational Assistance Program (VEAP)
Veterans eligible for assistance under Chapter 32 must have entered active duty between January 1, 1977 and June 30, 1985 (post-Vietnam) and enrolled and contributed to VEAP before April 1, 1987.

Chapter 33: The Post-9/11 GI Bill(GI Bill®)
The Post-9/11 GI Bill (Chapter 33) helps you pay for school or job training. If you’ve served on active duty after September 10, 2001, you may qualify for the Post-9/11 GI Bill (Chapter 33). Among other things, this bill provides funds to expand veterans’ education benefits for those who have at least 90 days of aggregate service on or after September 11, 2001.

Ithaca College is a participant in the Yellow Ribbon Program, which is a provision of the Post-9/11 GI Bill. The Yellow Ribbon Program can help you pay for higher out-of-state private school, foreign school, or graduate school tuition and fees that the Post-9/11 GI Bill doesn’t cover. If you qualify, your school will contribute a certain amount toward your extra tuition and fees through a grant, scholarship, or similar program. VA will match the contribution.

Fry Scholarship - If you’re the child or spouse of a member of the Armed Forces or the Selected Reserve who died on or after September 11, 2001, you may be eligible for the Marine Gunnery Sergeant John David Fry Scholarship (Fry Scholarship)

Chapter 35: Survivors' and Dependents' Educational Assistance Program (DEA)
If you’re the child or spouse of a Veteran or service member who has died, is captured or missing, or has disabilities, you may be able to get help paying for school or job training through the DEA program

Chapter 1606: Montgomery GI Bill - Selected Reserve
The Montgomery GI Bill Selected Reserve (MGIB-SR) program offers up to 36 months of education and training benefits. If you’re a member of the Army, Navy, Air Force, Marine Corps or Coast Guard Reserve, Army National Guard, or Air National Guard, you may be eligible for this benefit. Find out if you qualify.

More benefit information is available on the Office of the Registrar's website https://www.ithaca.edu/academics/registrar/veterans-services

Refund Procedure

Students attending Ithaca College who are receiving federal Title IV financial aid (e.g., Federal Direct loans) are required to return the portion of unearned aid if they withdraw, do not register, or otherwise fail to complete the period of enrollment for which the Title IV aid was provided. The return of funds does not apply to any student whose date of withdrawal is beyond the 60 percent enrollment period for which the student has been charged. The last date of attendance is determined by the date the student began the College's withdrawal process, the student's last date of recorded attendance, or the midpoint of the semester for a student who leaves without notifying the College.

To determine the percentage of aid earned, divide the number of calendar days completed by the total calendar days in the enrollment period (excluding scheduled breaks of five days or more AND days that the student is on an approved leave of absence).

Federal financial aid is returned to the program from which it was disbursed based on the percentage of unearned aid. To determine the percentage of unearned aid, subtract the percentage of aid earned from 100. The percentage of unearned aid is then multiplied by the amount of aid disbursed toward allowable institutional charges (e.g., tuition and room and board if living on campus).

There may be certain college or program fees that are non-refundable.  In addition, special refund procedures may apply in graduate programs where a block system for coursework is used or during summer/ winter sessions.  Please contact Student Financial Services for more information.

A refund schedule of tuition, room, and board charges based on a 15-week semester is provided below.

1st week 100%
2nd week 85%
3rd week 70%
4th week 60%
5th week 50%
6th week 40%
7th week 30%
8th week 15%
9th week 0%

Please note that the above refund policy applies to students who are not federal aid recipients. It also applies to the return of institutional aid. In the case of any student for whom it is determined that a return must be made to programs based on prorated charges, those funds will be returned in the following order: unsubsidized Federal Direct Loan, Federal Direct PLUS, Federal Pell Grant, FSEOG funds, and other Title IV aid programs. Finally, if no institutional, state or private financial aid refund is required, a refund will be made to the student.

More detailed information, including examples of refund and repayment calculations, is available on the student financial services website.

Special Considerations

Students who take a leave of absence, withdraw, or are on a continuation leave and are also Title IV aid recipients should be aware of the following:

  • The grace period for federal loans begins from the student's last date of attendance as determined by the College. A student who is on an approved leave of absence will be considered to be in school for purposes of repayment of federal loans. Should the student not return from an approved leave of absence, the last date of attendance will be considered the date the approved leave of absence began.
  • When a student withdraws from the College, the last date of attendance will be determined as outlined above.
  • A student who is provided a continuation leave will be reported as withdrawn, since federal regulations do not allow for the period of study to be interrupted for more than 180 days, excluding standard periods of non-enrollment.

Before being granted approval for withdrawal, leave of absence, or a continuation leave, all students who are federal loan recipients are advised to be counseled by the Office of Student Financial Services to discuss the consequences of their changed status on loan programs.

Any federal aid recipient who is taking a leave of absence or withdrawing within the ninth week should be aware that a return of federal aid may be required even though full tuition and room and board charges will be incurred.

Individuals who attend programs recognized by the College as affiliated study abroad programs are subject to the following refund policy:

  • A student who withdraws after the start of the program will be subject to the Ithaca College refund policies outlined above.
  • A student who withdraws from the program prior to the actual start date of the program will be refunded based on the policies assessed by the affiliate organization.
  • The student will be responsible for paying any remaining fees, charges, or withdrawal penalties assessed by the affiliate organization.
  • No financial aid is available to cover these charges.

Other Resources and Information

Students should seek out and apply for financial assistance from all potential grant, loan, and private scholarship sources. Public libraries and college financial aid offices have a wide variety of information readily available.

For more information about current resources, please review the Ithaca College Student Financial Services website.

For more information about free internet scholarship services, please review the Fastweb website.

The following websites may also provide useful financial aid information:

Both New York State and the federal government offer educational grants to Native Americans. For information on the federal program, contact the United States Department of Interior, Bureau of Indian Affairs, New York Liaison Office, Room 523, 100 South Clinton Street, Syracuse, NY 13260, 315-423-5476.