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Know
your financial aid options
This resource, with content provided from the UB Brochure entitled 'Financing
Your UB Education Costs' provides a brief overview of options available
to you for assistance in financing your education at the University at
Buffalo. Financial assistance can take the form of loans, grants, scholarships
and employment (work-study) opportunities. If you have questions, please
call the financial aid office at (716) 829 - 3724. All information about
your personal finances is kept confidential. You can also visit http://wings.buffalo.edu/services/fin-aid.
Financial
Aid: Who gives it?
You
can receive funding for your education from three main sources:
The
University at Buffalo. College financial aid consists of
institutional grants, scholarships, work programs, and institutional loans.
The Federal Government. Financial aid from the
federal government consists of Federal Pell Grants, College Work-Study,
Perkins Loans, Supplemental Educational Opportunity Grants (SEOG), and
the Federal Direct Student Loan (FDSL) Program (Stafford loans, Parent
Loan for Undergraduate Students (PLUS)
The State. New York State financial aid consists
of the Tuition Assistance Program (TAP), scholarships and other awards.
First
things first: File that FAFSA!
The
Free Application for Federal Student Aid (FAFSA) asks for the basic information
needed to determine your eligibility. for all the financial aid programs
sponsored by the federal government. The FAFSA is also needed for New
York State and UB aid, scholarships, and loans.
Complete and submit the FAFSA after January 1. You can get the application
from a high school guidance officer or a local library. You can also file
your FAFSA electronically at www.fafsa.ed.gov.
Don't wait until you find out if you are
accepted to UB -- file early! It's easier to complete
the FAFSA after your family has completed the federal tax return. However,
you may use estimated tax information and then make corrections using
the Student Aid Report (SAR) form once the actual tax form is available.
The
federal (Title IV) school code for the University at Buffalo is 002837.
After
you complete the FAFSA, make a copy for your files and then follow the
mailing instructions on this form. Please note that you
must submit the FAFSA by March 1 if you with to be considered
for campus-based funds, such as College Work-Study, SEOG, and Perkins
and health professional loans.
And
then...
Once the FAFSA is processed, you will receive a Student Aid Report (SAR)
in approximately 3 weeks. If corrections are needed, follow the instructions
carefully and provide any missing or inaccurate information. You may now
make any corrections to your SAR online at www.fafsa.ed.gov/studentaccess.htm
(you will need a copy of your PIN to use the online correction form).
Or you may mail your corrected SAR to:
Federal
Student Aid Programs
P.O. Box 7020
Lawrence, Kansas 66044-7020
Once
the corrections are recorded, you will receive a second SAR to confirm
the changes.
NYS
Tuition Assistance Program (TAP)
If
you are a New York State Resident, you will receive the Express TAP Application
in the mail. Information gathered from your FAFSA and your family's calculated
New York State net taxable income will be preprinted on the form. Review
this information using your family's New York State tax return and change
any incorrect items. Complete any missing items, then sign (Dependent
Students: parents must sign) and mail the form using the return envelope.
The
TAP school codes for the University at Buffalo are:
1010
Undergraduate
5132 Law
5133 Medicine & Dental Medicine
5130 all other Graduate
New
York State TAP Web page
What
happens next?
Once
UB receives your FAFSA information from the government agency, we will
review it and contact you for any additional information that is needed.
Please respond promptly to any request from UB for additional documentation.
You may call the University at Buffalo's touchtone system, BIRD, to review
the status of your application.
How
UB determines your need.
UB
determines your need by subtracting your Expected Family Contribution
(EFC) provided by the federal processor from the total educational costs
associated with your attendance at UB (tuition and fees, room, meal plan,
books & supplies, transportation, and personal expenses). The remainder
is "student need" which is the basis of your UB financial aid
package which may consist of federal and state financial aid entitlements
(Pell and TAP grants) as well as campus-based aid (e.g. Federal Work Study)
and student loans (e.g. Federal Direct Stafford Loan).
Learn
more information about the
estimated cost of attendance at UB.
UB
will let you know.
UB
will send you an award letter detailing the aid you are eligible to receive.
You must accept or decline the offer of aid by the deadline.
Accept
or decline the awards listed in the Award Letter.
Please
accept your financial aid awards through BIRD, the University's touchtone
system.
Follow
the steps for the types of award that apply to you:
10a:
Federal Parent Loan
10b: Perkins Loan, Health Professions Loan, or Nursing Loan
10c: Federal Work Study
10
a: Federal Parent Loan, If you accept a Federal Direct Parent
Loan, please complete and return the Parent
Data Form to the Student Response Center. Complete and return promissory
notes for Federal Direct Loans, if required; they will be sent to you
under separate cover.
If
you are a first-time borrower at UB (i.e. you have not previously received
a Direct Subsidized, Direct Unsubsidized, Federal Stafford, Federal Unsubsidized
Stafford, or Federal SLS while attending UB), you are required to receive
entrance counseling information before any loan funds can be disbursed.
This is a one-time requirement. | Learn
More
10
b: Perkins Loan, Health Professions Loan, or Nursing Loan, If
you accept a Perkins Loan, Health Professions Loan, or Nursing Loan, you
must complete and return the promissory note that you will receive. Also,
you must complete and return the Statement of Rights & Responsibilities/Interview
Questioner for each loan you accept.
10
c: What you have to do if you are awarded Federal Work Study
You will receive an Appointment Form by mail approximately 10 days prior
to the beginning of classes. You must take this form to the department
from which you are seeking employment.| Learn
More
Financial
Aid Grants
Please note that all financial aid grants such as EOP, PELL, SEOG, and
institutional scholarships have been accepted on your behalf; therefore
you will not be able to access these awards on BIRD.
Direct
Deposit
You may elect to have your financial aid refunds deposited directly into
your bank account by completing the Direct Deposit Authorization Form
and submitting it to the Student Response Center at least three weeks
prior to disbursement of your financial aid. | Learn
More
UB
Time Payment Plan
The UB Time Payment Plan (UBTP) allows you to pay your semester bill in
several installments spread over the course of that semester. | Learn
More
How
your Academic Standing affects your eligibility to receive financial aid
Your
continued eligibility for aid is based upon your performance, specifically
ensuring that you meet all of the criteria for Good Academic Standing
at the University at Buffalo. TAP eligibility is certified at the end
of each semester. All other awards are certified at the end of the Spring
semester.
For
financial aid eligibility purposes:
Repeated
courses do not count toward full time status
Credit
hours with grades of "F," "U," "R," and
"I" will have a negative impact upon a student's semesterly
and overall Course Completion Rate (otherwise known as the 75% Rule).
If
you have completed more than 60 credit hours (UB, transfer, AP, etc.)
you must be in an approved major.
Frequently
Asked Questions
Q:
When should I apply for financial aid?
A:
You should file the Free Application for Federal Student Aid (FAFSA) as
soon as possible after January 1 if you will be attending UB at anytime
between June and May of that calendar year. Please note that you must
file by March 1 if you wish to be considered for campus-based funds, such
as College Work-Study Awards, Supplemental Educational Opportunity Grants
(SEOG), and Perkins and Health Professions Loans.
Q:
How will I know if I am eligible for federal aid?
A:
You will receive a federal Student Aid Report (SAR) four to six weeks
after filing the FAFSA. Your SAR will indicate your expected family contribution
(EFC) for federal student aid programs as calculated by the federal processor.
The federal EFC is used by the Office of Financial Aid in determining
your eligibility. You will then be notified of your eligibility with an
award letter by the Office of Financial Aid.
Q:
What do I do when I receive my SAR?
A:
Review your SAR for errors. Make corrections if necessary and mail back
to the Federal Student Aid processor. If no corrections are needed, retain
the SAR for your files. It is not necessary for you to forward your SAR
to our office. Your financial information will be electronically transferred
to UB.
DO
NOT MAIL your tax return or SAR to our office unless requested by the
Financial Aid Office at UB.
Q:
I've been told I probably will not qualify for financial aid. Should I
even bother to apply?
A: Yes, you should. Many factors are taken into consideration to determine
a family's financial need, and each family's circumstances are unique.
In most cases Federal loans are available to students and/or parents.
You cannot know what you qualify for without completing the application
process!
Q:
Will I be eligible for the same amount of financial aid at every college
to which I apply?
A:
No. Since each college has different costs, your financial aid will vary
from one school to another. The more expensive colleges will tend to offer
you more financial aid to help you meet their higher costs.
Q:
Are all families/students expected to contribute toward educational expenses?
A:
Yes. The U.S. Department of Education has determined that if a student
is dependent upon his or her parents for support, then the expected family
contribution will include an amount from that student and his or her parents.
If a student is independent, then the EFC will include an amount from
that student.
Q:
If my parents are divorced or separated, which parent should provide the
information required to apply for aid?
A:
Use information about the parent whom you lived with the most during the
past twelve months. If you spent and equal amount of time with each parent,
use information for the parent who provided the most financial support
for you. Support would include money, gifts, loans, housing, food, clothing,
medical care, etc.
Child
support payments from your other parent will be taken into consideration,
as will information about the income and assets of any step-parent. We
realize these situations can be sensitive and complicated. Please feel
free to discuss your individual circumstances with one of our counselors.
All information will remain confidential.
Q:
In addition to applying for financial aid, is there any other resource
or service that can help me meet my financial obligations to UB?
A:
Yes. UB offers a Time-Payment Plan (UBTP) to pay semester costs in four
convenient installments. The application fee is $22.50 per semester. UBTP
is not a loan program; the service is provided interest free. Applications
for UBTP can be found in the Undergraduate Class Schedule Book each semester
and with the first fall bill. They are also available upon request from
the Office of Student Accounts at 232 Capen Hall or Hayes B, (716) 829-2181.
The deadline for application is the first day of classes each semester.
However, if you subscribe in the fall, you need not complete a spring
application.
Also,
scholarship information is available on our web pages.
Q:
Whom do I contact for information?
Student Response Center (716) 645-2450
Federal
Student Aid Processor (FAFSA-Washington) (800) 433-3243
TAP
(Processing of TAP application) (HESC-Albany, NY) (888) 697-4372 |
