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 is due by 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.


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 of 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:

  • 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 registered with Selective Service, if you’re a male (you must register between the ages of 18 and 25);
  • 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;
  • 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, 2020, and September 30, 2021, will have a 1.057% origination fee applied to the gross disbursement. Please contact our office for more information about the origination fee for the Direct loans that are first disbursed between October 1, 2021, and September 30, 2022.

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 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 5.28% for Graduate Direct Unsubsidized Loans that are first disbursed on or after July 1, 2021, and before July 1, 2022. 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 percent will be deducted from the loan amount for PLUS loans first disbursed between October 1, 2020 and September 30, 2021.  Please contact our office for more information about the origination fee for the PLUS loans that are first disbursed between October 1, 2021 and September 30, 2022.

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 6.28% for Graduate PLUS loans that are first disbursed on or after July 1, 2021, and before July 1, 2022. 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

Educational Assistance (GI Bill)

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.

Any covered individual may attend or participate in the course of education during the period beginning on the date on which the individual provides to the educational institution a certificate of eligibility for entitlement to educational assistance under chapter 31 or 33 (a "certificate of eligibility" can also include a "Statement of Benefits" obtained from the Department of Veterans Affairs' (VA) website - eBenefits, or a VAF 28-1905 form for chapter 31 authorization purposes) and ending on the earlier of the following dates:

The date on which payment from VA is made to the institution.

90 days after the date the institution certified tuition and fees following the receipt of the certificate of eligibility.

Ithaca College will not impose any penalty, including the assessment of late fees, the denial of access to classes, libraries, or other institutional facilities, or the requirement that a covered individual borrow additional funds, on any covered individual because of the individual's inability to meet his or her financial obligations to the institution due to the delayed disbursement funding from VA under chapter 31 or 33.

Current benefit rates may be obtained by writing to the New York State Division of Veterans Affairs, Veterans Counseling Center, 423 West State St, Ithaca, NY 14850, or by calling 607-272-1084. 

Vocational Rehabilitation

This program is for disabled World War II, Korean conflict, post-Korean conflict, Vietnam era, and certain peacetime veterans. Detailed information is available from regional VA offices.

Survivors and Dependents Education

This program is for children, spouses, and other survivors of veterans whose death or permanent total disabilities were service-connected, and for spouses and children of service persons missing in action or prisoners of war.

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 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.

When institutional aid is required to be returned, it will be done in the following order: W.G. Egbert Grant,  Founder's Grant, Ithaca Grant, merit-based scholarships, endowed/restricted scholarships, and other institutional aid programs.

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 upon 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 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.