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.
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.
The 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 ranging from $75 up to a maximum of $640, depending on their financial status.
To determine estimated award amounts, contact the New York State Higher Education Services Corporation at 1-888-697-4372 or visit the website:
New York State Higher Education Services Corporation
Detailed information on Federal Direct Loans may be found at http://www.studentloans.gov.
Ithaca College processes applications electronically. First-time borrowers are required to accept an offer of a Direct Loan via HomerConnect. In addition, new borrowers are required to complete a Master Promissory Note (MPN) which is valid for ten years. Repeat borrowers who have used the master promissory note need not complete another promissory note.
The federal Direct subsidized loan program (FSSLP) is an entitlement program in which all eligible applicants can obtain a loan. To be eligible for this 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 meet any other requirements as outlined by federal law or regulation
Up to 1 percent of the loan amount borrowed for federal "loan origination and insurance fees" will be deducted from the amount borrowed prior to disbursement.
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 bursar account.
A 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 Direct Loan 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.
The student must continue to maintain satisfactory academic progress. The interest rate is a fixed rate of 4.5 percent for loans disbursed on or after July 1, 2010. 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 (1) in school at least half-time; (2) on graduate fellowships or rehabilitation training; (3) unemployed; or (4) in economic hardship. Students should contact the lender 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 the lending institution to begin repayment. The following regulations apply:
1. Income-sensitive, graduated-payment, and income-contingent plans are available to assist borrowers in meeting repayment obligations. Under unusual and extenuating circumstances, the lender, on request, may permit other payment arrangements.
2. The maximum 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.
Note: A student who has been accepted as a "provisional" graduate student is limited to undergraduate borrowing levels (up to $5,500) per year. Once fully matriculated, a student may receive graduate level borrowing.
Application procedures are the same as for subsidized federal Direct Loans.
Same as subsidized federal Direct Loan, except no demonstration of financial need is required. Available to students who may not qualify for subsidized federal Direct Loans or for only partial subsidized Direct Loans.
The interest rate is fixed at 6.8%. The origination fee, and federal default fee are the same as for the subsidized Direct Loan.
Same as subsidized federal Direct Loan. However, if the student is receiving the subsidized federal Direct Loan, the combination of the two loan programs cannot exceed the annual loan limit. Graduate students may borrow up to an additional $12,000 per year. The aggregate total is $73,000 for undergraduate and graduate study combined.
Same as subsidized federal Direct Loan. However, the borrower is responsible for interest that accrues while he or she is in school. Interest may be capitalized.
Note: A student who has been accepted as a "provisional" graduate student is limited to undergraduate borrowing levels (up to $2,000) per year. Once fully matriculated, a student may receive graduate level borrowing.
Ithaca College processes applications electronically. First-time borrowers submit a loan request form (LRF) to the Office of Student Financial Services. The College transmits pertinent information to the federal servicer. 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.
A borrower must be a graduate student. Student eligibility criteria are comparable to those for federal Stafford student loans, and the student must demonstrate financial need as determined by submitting the Free Application for Federal Student Aid (FAFSA). An origination fee of 4 percent will be deducted from the loan amount.
NOTE: A student who has been accepted as a "provisional" graduate student may not borrow under this program. Once fully matriculated, a student may apply for a Direct PLUS loan.
The maximum of the PLUS loan is the total cost of attendance, minus other financial aid.
The student must continue to maintain satisfactory academic progress. A credit check is required. Repayment must begin 60 days after the loan is disbursed. Loan funds are disbursed electronically to the student's billing account. The interest rate is fixed at 7.95 percent.
The federal work-study program provides employment opportunities for students.
The applicant must
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.
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.
Current benefit rates may be obtained by writing to the New York State Division of Veterans Affairs, Veterans Counseling Center, 304 Babcock Hall, Ithaca, NY 14850, or by calling 607-272-1084. Veterans enrolled half-time or more may be entitled to a VA educational loan, repayable after the veteran ceases to be a student. The granting of educational loans is based on financial need related directly to the cost of education.
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.
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.
Students 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.
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, room and board if living on campus).
A refund schedule of tuition and board charges based on a 15-week semester is provided below.
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, subsidized Federal Direct Loan, Federal Perkins loan, Federal Direct PLUS, Federal Pell grant, ACG funds, SMART 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 Founder's Grant, Ithaca Access Grant, merit-based scholarships, endowed/restricted scholarships, and other institutional aid programs.
More detailed information, including examples of refund and repayment calculations, is available in the graduate and professional studies, and student financial services websites.
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:
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.
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:
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. The Ithaca College Office of Financial Aid website has links to many current resources. Students may also access a free Internet scholarship service, FASTweb.
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.