Financial Aid

The Financial Aid Office is dedicated to providing students financial aid information, service, and support along their pathway to success at Five Towns College. There are various types of financial aid available through federal, state, institutional and other resources. Students and their families are encouraged to meet with the College’s financial aid administrators to discuss their individual circumstances. Additionally, the Financial Aid Office provides assistance in completing the FAFSA (Free Application for Federal Student Aid) and other forms.

Five Towns College adheres to federal regulations and institutional policies to determine and distribute financial aid. Awards are based on the information submitted on your FAFSA.

Applying for Financial Aid

The earlier students apply for financial aid, the sooner their aid may be determined and processed. Some aid, such as grants, scholarships, and Federal Work Study, is limited. The recommended filing date for returning students is October 1st for the fall semester. All new students are urged to apply as early as possible and not less than eight weeks prior to the beginning of the semester of attendance.

Application Procedures: Students must complete a FAFSA in order to receive any Federal Title IV, New York State, or institutional aid. It is recommended that you file the FAFSA online at https://student.aid.gov. In order to be eligible for aid, you must have the FAFSA completed by the last day of the semester. The College Financial Aid Office can assist you with completing the FAFSA or the Department of Education can be reached at 1-800-4FED- AID (1-800-433-3243).

Apply for your FSA ID (Federal Student Aid ID) at https://student.aid.gov. Parents of dependent students must also apply for an FSA ID. This allows you to apply, sign, and submit your FAFSA electronically to the Department of Education and to Five Towns College. The Five Towns College Federal School Code for the FAFSA is 012561.

Estimated Family Contribution (EFC)

This is the figure used to determine your eligibility for federal student financial aid. This number results from the financial information you provide in your FAFSA, the application for federal student aid. Your EFC is reported to you on a Student Aid Report (SAR).

Financial Aid Payments

Funds from federal and state entitlement programs such as Federal Pell, TAP, and Federal SEOG and scholarships from the College are credited to a student once each semester. Federal Direct Loans are always disbursed in two payments for each loan period according to regulations.

The College will defer tuition payments for a student who has established eligibility for a grant or loan of equal amount. Monies received by the College on behalf of a student will first be applied towards the student’s tuition, fees, and housing. After the student’s tuition and housing is paid in full, the student may request any credit balance on the account via check. Payments due from proceeds of a Federal Parent Loan (PLUS) will be made directly to the parent.

The Financial Aid Office may consider arrangements between the College and the student receiving financial aid to advance money for education related expenses, as deemed necessary. Expenses are limited to transportation, food, rent, and other items that enable a student to attend a college. Payments are only issued once per semester and will not exceed 50% of the total credit due on the student’s account

New York State Aid Programs

Tuition Assistance Program (TAP)

Students must complete the Free Application for Federal Student Aid (FAFSA) to receive Tuition Assistance Program (TAP). The application deadline for 2020-2021 academic year is June 30, 2021. New York State (NYS) Residents attending NYS schools will have the option to link directly to the TAP application from the FAFSA submission confirmation page. If you exited the FAFSA before selecting this option, you can complete the application after The New York State Higher Education Services Corporation (HESC) receives your FAFSA data. HESC will send you an email notifying you to complete the TAP application online or you can visit https://www.hesc.ny.gov. HESC determines the applicant’s eligibility and emails an Award Certificate directly to the applicant. It is the applicant’s responsibility to check for any errors.

Five Towns College TAP School Code: 2075.

Selection of Recipients and Allocation of Awards: TAP is an entitlement program and is available to every student meeting the eligibility requirements. There is neither a qualifying examination nor a limited number of awards. Awards are determined on an individual basis based on New York State net taxable income for the preceding tax year and are prorated and paid on a term basis.

Students registered in a two (2) year program are limited to three (3) years of TAP. All other students are eligible for four (4) years of TAP.

Who is Eligible?

To be eligible for TAP, a student must:

• Be a United States citizen or eligible non-citizen.
• Be a legal resident of New York.
• Study full-time (at least 12 credits per semester) at an approved postsecondary institution in New York.
• Have a United States High School Diploma or the recognized equivalent.
• Be matriculated in an approved program of study and be in good academic standing.
• Have at least a cumulative “C” average after receipt of two annual payments.
• Be charged at least $200 tuition per year.
• Not be in default on a student loan guaranteed by HESC or any repayment of a State award.
• Meet income requirement.

Enhanced Tuition Award Program

The Enhanced Tuition Awards (ETA) program: Provides tuition awards to students who are New York State residents attending a participating private college located in New York State. Recipients will receive $6,000 through a combination of their TAP award, ETA award and a match from their private college.

To be eligible an applicant must:

• Be a resident of NYS and have resided in NYS for 12 continuous months prior to the beginning of the term;
• Be a U.S. citizen or eligible non-citizen;
• Have either graduated from high school in the United States, earned a high school equivalency diploma, or passed a federally approved “Ability to Benefit” test, as defined by the Commissioner of the State Education Department;
• Have a combined federal adjusted gross income of $125,000 or less;
• Be enrolled in at least 12 credits per term and complete at least 30 credits each year applicable toward his or her degree program, through continuous study with no break in enrollment except for certain reasons that can be documented;
• If attended college prior to the 2018-19 academic year, have earned at least 30 credits each year (successively), applicable toward his or her degree program prior to applying for an Enhanced Tuition Award;
• Be in a non-default status on a student loan made under any NYS or federal education loan program or on the repayment of any NYS award.

Senator José Peralta New York State DREAM Act

The Dreamer Act: gives undocumented and other student’s access to New York State administered grants and scholarships that support their higher education costs. 

To be eligible an applicant must fit one of the following criteria:

1. Your permanent home is in NYS and you are or have ONE of the following:

• U-Visa
• T-Visa
• Temporary protected status, pursuant to the Federal Immigration Act of 1990
• Without lawful immigration status (including those with DACA status

2. Your permanent home is outside of NYS and you are or have ONE of the following:

• U.S. citizen
• Permanent lawful resident
• Of a class of refugees paroled by the attorney general under his or her parole authority pertaining to the admission of aliens to the U.S.
• U-Visa
• T-Visa
• Temporary protected status, pursuant to the Federal Immigration Act of 1990
• Without lawful immigration status (including those with DACA status)

If the above criteria are met you must also meet one the following:

• You attended a NYS high school for 2 or more years, graduated from a NYS high school, and are applying for an award for undergraduate study at a NYS college within five years of receiving your NYS high school diploma OR
• You attended a NYS high school for 2 or more years, graduated from a NYS high school, and are applying for an award for graduate study at a NYS college within ten years of receiving your NYS high school diploma OR
• You received a NYS high school equivalency diploma, and are applying for an award for undergraduate study at a NYS college within five years of receiving your NYS high school equivalency diploma OR
• You received a NYS high school equivalency diploma, and are applying for an award for graduate study at a NYS college within ten years of receiving your NYS high school equivalency diploma.

Aid for Part-time Study (APTS)

Application Procedures: Application is made through the College Financial Aid Office, which is responsible for determining who receives an APTS award and the amount.

Eligibility Requirements: To be considered for an award a New York State resident student must: not have exhausted TAP eligibility for full-time study, be matriculated in an approved program, be enrolled for at least three (3) credits, be in good academic standing, meet the citizenship requirements, and be within the required income guidelines.

Award Schedule: Awards may not exceed $1,000 per semester or the amount of student tuition.

Special Programs

New York State has other Scholarships and Awards for students with special qualifications or circumstances. Get more information if you think you are eligible by contacting New York State Higher Education Services Corporation at http://www.hesc.ny.gov.

• Memorial Scholarship for Families of Deceased Firefighters, Volunteer Firefighters, Police Officers, Peace Officers and Emergency Medical Service Workers
• Military Service Recognition Scholarship (MSRS)
• NYS Scholarships for Academic Excellence
• NYS World Trade Center Memorial Scholarship
• NYS Aid to Native Americans
• Segal AmeriCorps Education Award
• Veterans Tuition Awards
• Higher Education Opportunity Program (HEOP)

Vocational Rehabilitation

Selection of Recipients and Allocation of Awards: Any disabled person with a substantial employment handicap who can become employable within a reasonable period of time may be eligible. ACCES-VR serves those having any physical, emotional, or mental disability except blindness. The legally blind are served by the Commission for the Blind and Visually Handicapped, through the State Department of Social Services located at 40 North Pearl Street, Albany, NY 12243. https://ocfs.ny.gov.

Federal Title IV Programs

The Federal Pell Grant Selection of Recipient and Allocation of Awards: The Federal Pell Grant Program eligibility and award amount are based on need and enrollment status. Financial need is determined by a formula applied to all applicants. This formula is written into federal law. Applicants must: (1) be a U.S. Citizen or eligible non-citizen; (2) be an undergraduate enrolled as a matriculated student at an eligible institution; (3) not be in default or refund status for any federal Title IV aid at any institution; and (4) if applicable, be registered with Selective Service.

The amount of Federal Pell Grant funds a student may receive over the student’s lifetime is limited by federal law to be the equivalent of six years of Pell Grant funding. Since the maximum amount of Pell Grant funding a student can receive each year is equal to 100%, the six-year equivalent is 600%. This equates to approximately 12 payments of Pell Grant funds, assuming two full payments per academic year.

Award Schedule: 2020-2021 awards range from $0 to $6,195. The amount of the award will be affected by estimated family contribution (EFC), costs of attendance and full or part-time enrollment status. The Federal Pell award is not duplicative of State awards.

Federal Supplemental Education Opportunity Grants (FSEOG)

FSEOG grant funds are available to exceptionally needy full-time and at least half-time students, who have the lowest expected family contributions (EFC) as determined by the Department of Education and the students’ financial aid application.

Award Schedule: FSEOG funds are limited based on funding provided by the Department of Education. The College Financial Aid Office will distribute funds automatically to eligible students until funds are exhausted. Awards for the 2020-2021 full academic year range from $100 to $1,000. Awards are determined on an annual basis depending on EFC and need.

Federal Work-Study Programs (FWS)

Application Procedures: Application is made through the Career Services and the Financial Aid Office. The eligibility is determined following federal guidelines for need-based aid, full-time enrollment, and a minimum 2.0 GPA.

Selection of Recipients and Allocation of Awards: The College makes employment reasonably available to all eligible students in the institution who are in need of financial aid. In the event that more students are eligible for FWS than there are funds available, preference is given to students who have great financial need and who must earn a part of their educational expenses. Factors considered by the Financial Aid and Career Services Offices in determining how many hours the recipient may work under this program include financial need, class schedule, and academic progress.

Award Schedule: Job assignments may include on or off campus locations, as arranged through Career Services, with public or private nonprofit agencies, such as libraries and art councils, for no more than 20 hours per week. Students may expect a salary level of at least the minimum wage. Maximum wage is dependent on the nature of the job and the applicant’s qualifications.

William D. Ford Federal Direct Loan Program

Federal Direct Subsidized Stafford Loans: Subsidized loans are available only to undergraduate students who demonstrate financial need as determined by the expected family contribution (EFC) and the total cost of attendance. The federal government pays the interest while the student is enrolled in school (at least half-time) and during specified deferment periods. For Federal Direct Stafford Loans, the Department of Education applies an origination fee to the loan. Therefore, the total amount received will be less than the total loan amount borrowed.

Federal Direct Unsubsidized Stafford Loans: Unsubsidized loans are available to all students regardless of grade level and financial need. These loans accumulate interest while the student is in school and continues upon exiting. Students may elect to pay the interest while attending school.

Selection of Recipients and Allocation of Awards: To be eligible for Federal Direct Stafford Loans students must be: (1) a U.S. citizen or permanent resident alien; (2) enrolled or admitted as a matriculated, at least half-time student; (3) in good academic standing and making satisfactory academic progress; (4) not in default of a previous student loan; (5) if applicable, registered with Selective Service; and (6) assigned a social security number.

Responsibilities of All Student Loan Recipients: Repayment by the student begins 6 months after the student has graduated or ceased to be enrolled at least half-time (minimum 6 credits) with repayment terms between 10-25 years. Students may choose to repay Direct Subsidized Loans and/ or Direct Unsubsidized Loans through one of these eight repayment plans:

• Standard Repayment Plan
• Extended Repayment Plan
• Graduated Repayment Plan
• Income Contingent Repayment Plan (ICR)
• Income Sensitive Repayment Plan (ISR)
• Income-Based Repayment Plan (IBR)
• Pay as You Earn Repayment Plan (PAYER)
• Revised Pay as You Earn Repayment Plan (REPAYE)

All Direct Subsidized and Direct Unsubsidized Loans require the same type of repayment plan. If you do not choose a repayment plan, your loans will be placed in the Standard Repayment Plan. A minimum repayment of $50 plus interest per month is required.

Students who graduate or fail to maintain at least half-time status and who have participated in the Federal Family Education and/or William D. Ford Federal Direct Loan Program must complete exit counseling. This counseling will include, but will not be limited to, information concerning total student loans borrowed, terms of repayment, debt management, counseling, and deferment eligibility. To manage loans and stay current on important loan details forms, repayment options, and get help visit the Federal Student Aid website http://studentaid.ed.gov. or federal Student Loans website https://studentloans.gov.

Federal Direct Parent/Graduate Student Loans Federal Direct Plus Loan

Parents and Graduate Students with good recent credit history may borrow a PLUS loan on behalf of their dependent students or themselves, up to the cost of attendance.

Financial need is not a requirement for a PLUS loan, but a credit check is required. The total loan amount borrowed in any year cannot exceed educational costs less all other financial aid received.

Application Procedures: To apply for a Federal Direct PLUS loan, the dependent student’s parent must complete a Federal Direct PLUS application and sign a Master Promissory Note, available at https://studentloans.gov. Your Direct PLUS Loan enters repayment once your loan is fully disbursed (paid out). If you are a graduate or professional student, your loan will be placed into deferment while you are enrolled at least half-time and for an additional six months after you cease to be enrolled at least half-time. If you are a parent borrower, you may contact your loan servicer to request a deferment while you or your child are enrolled at least half-time and for an additional six months after your child ceases to be enrolled at least half-time.

If your loan is deferred, interest will accrue on the loan during the deferment. You may choose to pay the accrued interest or allow the interest to capitalize when the deferment period ends. Your loan servicer will notify you when your first payment is due.

Rights and Responsibilities of Recipients: Satisfactory academic progress must be maintained as defined in the College catalog for all Federal Programs.

Because of continuing changes in Federal and State regulations, students should check with the Financial Aid Office regarding the latest official information about these programs, or when they have any question or concern about eligibility criteria.

Veterans Administration (VA)

Educational Benefits

Many programs of educational assistance benefits are available to those who have served in the active military, naval or air service and to their dependents. Detailed information on all veterans’ benefits and assistance in applying for benefits can be obtained from the offices of the Veterans Administration at https://www.benefits.va.gov. Five Towns College proudly participates in the Yellow Ribbon Program.

Delayed Disbursements for Veterans Enrolled at Five Towns College

Five Towns College fully complies with 38 USC 3679.  In furtherance thereof, the College permits any covered individual to 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 22 (a “certificate of eligibility” can also include a “Statement of Benefits” obtained from the Department of Veterans Affairs (VA) website – eBenefits, or VAF 28-1905 form for chapter 31 authorization purposes) and ending on the earlier of the following dates:

1. The date of which payment from VA is made to the institution.
2. 90 days after the date the institution certified tuition and fees following the receipt of the certificate of eligibility.

It is the intent of this Policy to ensure that Five Towns 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.

A Covered Individual for purposes of this Policy is any individual who is entitled to educational assistance under chapter 31, Vocational Rehabilitation and Employment, or chapter 33, Post-9/11 GI Bill benefits.

Return of Title IV Funds

Five Towns College is required to determine the earned and unearned portions of Federal Title IV aid as of the date the student ceased attendance. Through the 60% point in each payment period or period of enrollment, a calculation determines the amount of Title IV aid a student has “earned” by dividing the number of days completed by the number of days in the semester. The return of any unearned Federal Title IV funds will be processed within 45 days of the date the school determines the student withdrew. Institutional refund policies should be reviewed. Students completing more than the 60% point in the payment period or period of enrollment have earned 100% of the Federal Title IV funds scheduled during the period.

Federal Title IV funds earned by the student have no relationship to the student’s incurred institutional charges. Institutional charges may not be fully covered after calculating the return of Federal Title IV funds and any balances due are the student’s responsibility.

If a student withdraws before 100% tuition liability, the charges and any institutional scholarship will be reduced accordingly. The Bursar will not issue a refund to the student until the return of Title IV funds calculation is performed to determine if any financial aid funds need to be returned to the Department of Education. After adjustments are made, the student will either receive a refund for any remaining credit or a bill with the balance due.

Standard of Satisfactory Academic Progress and Eligibility for Student Aid

Students, who are not maintaining satisfactory academic progress (SAP) and pursuit of program according to established guidelines, are not eligible for Federal Title IV, New York State financial aid and some scholarships administered by Five Towns College. Federal Title IV aid includes Federal Direct Stafford Loans (Subsidized and Un- subsidized), Federal Direct Parent Loan (PLUS), Federal PELL Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), and Federal College Work-Study. New York State awards include Tuition Assistance Program (TAP), the Higher Educational Opportunity Program (HEOP) and all other programs through New York State Higher Education Services Corporation.

Federal Criteria and Requirements

Upon matriculation at the College, a student must meet Federal Satisfactory Academic Progress standards consistent with the College catalog and the U.S. Department of Education regulations. Students are expected to achieve qualitative (grade) and quantitative (pace) benchmarks as outlined.

Students are expected to complete their program of study within 150% of the time required as published in the College catalog. Students attempting between 0-30 credits must earn 50% of their attempted credits with a GPA of at least 1.75. Students attempting more than 30 credits must earn 67% of their attempted credits with a GPA of at least 2.0.

Every semester is taken into account when measuring students’ progress regardless of whether they received Federal Title IV financial aid.

Attempted hours are defined as the hours for which the student is enrolled and charged by the 7th day of the semester. All credits attempted, whether transfer credits or due to a change of major, are taken into consideration. Earned hours are defined as the sum of hours in which a student has earned a grade of A, B, C, or D. Withdrawals, Incompletes, Audits and Failures are not earned hours. An ‘Incomplete’ must be graded prior to the start of the next semester to be considered earned for Federal Financial Aid purposes. The higher grade of a repeated ‘F’ or ‘WU’ will be considered in calculating the student’s CGPA.

Students who met SAP requirements in their prior review but are now failing to meet the requirements for the upcoming semester will be granted a Financial Aid Warning status. This will allow the student to continue eligibility to receive Federal Title IV aid for the upcoming semester. It is expected that students will use the semester to improve their SAP standing and regain Federal Title IV eligibility.

Students not meeting SAP requirements at the end of the Financial Aid Warning semester or students who have exceeded the Maximum Time Frame requirement are determined to be ineligible to receive federal financial aid. At the College’s discretion, students with extenuating circumstances who are not meeting SAP requirements may be placed in a Financial Aid Probation Status via an appeal from the student.

Any student receiving Veteran’s Benefits and has been granted one semester of probation for failure to make Satisfactory Academic Progress, will be dismissed from the College at the end of that one semester probationary period if they fail to make Satisfactory Academic Progress by that time.

Appeal Process

Students found to be ineligible to receive federal financial aid, based on a SAP review, will be notified of their ineligibility and provided instructions on how they may appeal. The appeal must include:

• Reason(s) the student failed to meet SAP requirements
• A description of changes that will now allow the student to meet the SAP requirements moving forward

Appeals may be granted as follows:

Financial Aid Probation - One Term

A review of the appeal documentation indicates it is reasonable for the student to achieve the minimum SAP requirements within one term. Financial aid eligibility will be reinstated for one term only. Failure to meet the SAP requirements in that term will result in suspension of financial aid eligibility.

Financial Aid Probation - Academic Plan

A review of the appeal documentation includes an academic plan outlining steps required of student to meet the minimum SAP requirements. Financial aid eligibility is reinstated and progress is monitored on a term by term basis by the Student Success Center and students’ respective Academic Advisors. Continued financial aid eligibility under the academic plan is contingent upon the specific terms as described in the student’s appeal approval notification. Students in this status must achieve a minimum term GPA of 2.0, be successfully completing coursework towards degree completion in the upcoming semesters, and meet academic plan requirements.

Students who do not have a successful appeal will remain ineligible to receive Federal Title IV aid until they meet all Federal SAP requirements. Once this occurs, aid will automatically be awarded in the future term(s). Students denied an appeal may submit a second appeal if they successfully complete a minimum of one term at the College and meet all SAP standards for that term. Students denied due to exceeding maximum time frame are not permitted to appeal a second time.

Students must be aware that credits not earned each semester according to the overall required time frame (i.e., six years for Baccalaureate programs) will make it increasingly difficult to complete their program of study on time and prohibit them from withdrawing from any future courses that they take beyond that time frame.

New York State Requirements

Satisfactory Academic Progress/Program Pursuit for TAP Program

To meet NY State SAP, a student must earn a minimum number of credits with a minimum grade point average each term an award is received.

Only semesters that a student receives a TAP payment are considered for SAP. Students who have received four semester payments of New York State TAP (24 payment points) MUST have a cumulative 2.0 GPA. This includes students who may have received TAP payments at another college prior to enrolling at Five Towns College.

If students fail to make progress at Five Towns College toward a degree, either by failing to accrue sufficient credits or by failing to achieve a sufficient cumulative grade point average they lose eligibility for a subsequent award. Students will be notified in writing by the College and pro- vided instructions on how they may appeal. Students can regain eligibility by:

1. Complete coursework and make up the deficiency without benefit of State financial assistance;
2. Submit paperwork to the College requesting a Good Academic Standing waiver, provide reason/documentation of the extenuating circumstances contributing to the failure to meet NY SAP, and be eligible for and granted a one-time waiver;
3. Remain out of school for one calendar year;
4. Students not achieving a 2.0 GPA after 4 semesters of TAP payments may appeal for a C-waiver based on un- due hardship based on: (1) the death of a relative of the student; (2) the personal injury or illness of the student; or (3) other extenuating circumstances. C-waiver requests will be reviewed and approved, if eligible, by the College. It is possible, should circumstances warrant it, for a student to receive more than one C-average waiver.

Repeated Courses and Financial Aid

New York State regulations mandate that if a student repeats a course in which a passing grade acceptable to the institution has been received previously, the course cannot be included as part of the student’s full-time course load for New York State financial aid purposes. However, when a failed course is repeated it may count toward full-time study.

Withdrawals and Leaves of Absence and Financial Aid

Students who received New York State aid for a semester from which they withdraw or take a leave of absence and do not earn any academic credit are not considered to be meeting the state’s pursuit of program requirements and will not be eligible to receive state aid the following semester. The courses taken by a student that withdraws during a semester is considered attempted but not completed in determining State aid eligibility.

Incomplete Grades and Financial Aid

A student with incomplete courses at the end of the semester must complete the coursework prior to the start of the next semester or may lose state financial aid eligibility. If a student completes these courses during the next semester and regains academic progress, state aid may be reinstated upon student request.

Community Service

Community Service is a strong component of the College’s values and teaching philosophy. While all students are encouraged to engage in community service activities, recipients of institutional grants, scholarships, and prizes are typically required to complete between 10 and 20 hours of community service per semester. Additional information is available from the Financial Aid Office and Career Services Office.