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Ithaca College Scholarships and Grants Aid ProgramsIthaca College Scholarships and GrantsIthaca College need-based scholarships and grants are available only to physical therapy and occupational therapy students. A student must apply annually to the financial aid office before March 1. All recipients must demonstrate financial need. Financial need 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. Graduate business majors are automatically considered for any available non-need based Ithaca College M.B.A. scholarships and need not submit the FAFSA. New York State TAP ProgramThe New York State Tuition Assistance Program (TAP)
is an entitlement program with neither a qualifying examination nor
a limited number of awards. Eligible students may receive awards up
to a maximum of $640, depending on their financial status. Detailed
information on financial and academic eligibility criteria and on the
amount of awards is available from any high school guidance office or
college financial aid office. These offices also have the required forms.
TAP AwardsSchedule U -- For students who are dependent on their parents, or who are financially independent and are married or have tax dependents. The maximum award is $640 or 95 percent of tuition, whichever is less; the minimum award is $75.
Schedule V -- For students who are financially independent, single, and without tax dependents. The maximum award is $550 or 95 percent of tuition, whichever is less; the minimum award is $75.
Federal ProgramsFederal Stafford Loans -- SubsidizedIthaca College processes applications electronically. First-time borrowers submit a loan request form (LRF) to the Office of Financial Aid. The College transmits pertinent information to the lender, servicer, and/or guarantee agency selected by the borrower. The agency generates the promissory note for the borrower to complete and return to the appropriate organization. Repeat borrowers who have used the master promissory note need not complete another promissory note. Selection of Recipients and Allocation of AwardsThe federal Stafford subsidized loan program
(FSSLP) is an entitlement program in which all eligible applicants
can obtain a loan. To be eligible for a guaranteed loan a student must
(1) be a U.S. citizen or permanent resident alien; (2) be enrolled at
least half time or accepted for enrollment in a degree, certificate,
or other program leading to a recognized credential; or (3) 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 U.S. or a foreign country; (4) not be in default or refund status
for any federal Title IV program at any institution; (5) be determined
to be eligible or ineligible for
a Pell grant; (6) if applicable, be registered with the Selective Service;
(7) have a Social Security number; (8) demonstrate financial need; and
(9) meet any other requirements as outlined
by federal law or regulation A federal "loan origination fee"
equal to three percent of the amount of
the loan will be deducted from the amount disbursed. An additional annual
insurance premium of up to one percent
of the loan amount is payable in full at the time the loan check is
issued. Loan ScheduleA graduate student may borrow an annual maximum of $8,500. The aggregate limit, including any undergraduate federal Stafford loans, is $65,500. A student receiving a federal Stafford student loan is eligible for a full-interest subsidy during the time he or she is in school at least half time and for a following six-month grace period. Responsibilities of BorrowersThe student must continue to maintain satisfactory academic progress.
The interest rate is variable and is based on the 91-day T-bill rate
just prior to June 1, with the following additions: 1.7 percent
during in-school, grace, and deferment periods; 2.3 percent
during repayment. The rate cannot exceed 8.25 percent.
Repayment begins six months after the student ceases to be enrolled
at least half time.
Federal Stafford Student Loan - UnsubsidizedApplication ProceduresApplication procedures are the same as for subsidized federal Stafford loan. Selection of Recipients and Allocation of AwardsSame as subsidized federal Stafford loan, except no demonstration of
financial need is required. Available to students who may not qualify
for subsidized federal Stafford loans or for only partial subsidized
Stafford loans. Loan ScheduleSame as subsidized federal Stafford loan. However, if the student is receiving the subsidized federal Stafford loan, the combination of the two loan programs cannot exceed the annual loan limit. Graduate students may borrow up to an additional $10,000 per year. The aggregate total is $73,000 for undergraduate and graduate study combined. Responsibilities of BorrowersSame as subsidized federal Stafford loan. However, the borrower is responsible for interest that accrues while he or she is in school. Interest may be capitalized. Federal Work-Study Program (FWS)The federal work-study program provides employment opportunities for students. Selection of Recipients and Allocation of AwardsThe applicant must (1) be a U.S. citizen or eligible noncitizen; (2) be enrolled in an undergraduate, graduate, 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 System; and (5) demonstrate financial need as determined by submitting the free application for federal student aid (FAFSA). Award ScheduleThe 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. Veterans Administration BenefitsEducational 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. Vocational RehabilitationThis 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 EducationThis 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 ProcedureStudents attending Ithaca College who are
receiving federal Title IV financial aid -- e.g., federal Stafford,
or Perkins 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.
Please note that the above refund policy also 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
Stafford loan, subsidized federal Stafford loan, federal Perkins loan,
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. Special ConsiderationsStudents 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:
Before being granted approval for withdrawal, leave of absence, or a continuation leave, all students who are federal loan recipients are required to be counseled by the Office of Financial Aid to discuss the consequences of their changed status on loan programs. Other Resources and InformationStudents 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. The Ithaca College
Office
of Financial Aid website
has links to many current resources. Students may also access a free
Internet scholarship service,
FASTweb.
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.
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The grace period for federal loans (Perkins, Stafford) 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.
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For information, contact Division of Graduate Studies, gradstudies@ithaca.edu |