Student Aid

Federal Programs

For all federal aid programs listed (with the exception of the Parent Loan for Undergraduate Students [PLUS]) applicants must file the Free Application for Federal Student Aid (FAFSA). Applications are available through financial aid offices at approved postsecondary institutions or online.
FAFSA Website

Academic Competitiveness Grant (ACG)

Selection of Recipients and Allocation of Awards

Applicant must (1) be a U.S. citizen or eligible non-citizen; (2) be a federal Pell Grant recipient; (3) be enrolled full-time in a degree program; (4) be enrolled in the first or second academic year of his or her program of study at a two-year or four-year degree-granting institution; (5) have completed a rigorous secondary school program of study (after January 1, 2006, if a first-year student, and after January 1, 2005, if a second-year student); (6) if a first-year student, not have been previously enrolled in an undergraduate program; and, (7) if a second-year student, have at least a cumulative 3.00 grade point average for the first academic year.

Award Schedule

Awards are up to $750 for first academic year of study and up to $1,300 for the second academic year. The student may not receive more than four payments of ACG funds.

Federal Pell Grants

Selection of Recipients and Allocation of Awards

The federal Pell grant program is an entitlement program. Eligibility and award amount are based on need. The applicant must be enrolled as an undergraduate student, for at least 3 credits, in an approved postsecondary institution and must need financial assistance to continue his or her education. A student may receive grants for the period required to complete a first baccalaureate degree, but no more than 18 semesters for first time Pell grant recipients on or after July 1, 2008. Awards may be used for tuition, fees, books, and living expenses.

Award Schedule

Awards range from $400 to $4,731 for the 2009-10 academic year. The amount of the award will be affected by costs of attendance and full- or part-time enrollment status. The federal Pell award does not duplicate state awards.

Responsibilities of Recipients

The student must continue to make satisfactory academic progress in the program in which he or she is enrolled. The student must not owe any refunds on Pell grants or other awards paid, or be in default on repayment of any student loan.

Before receiving payment, Ithaca College must have on file, by electronic means, an accurate official student aid report (SAR). Awards will be credited to the student's account.

Federal Supplemental Educational Opportunity Grants (SEOG)

Selection of Recipients and Allocation of Awards

The applicant must (1) be a U.S. citizen or an eligible noncitizen; (2) be an undergraduate matriculated at an institution participating in the federal campus-based programs; (3) if applicable, be registered with the Selective Service; (4) demonstrate exceptional financial need relative to other applicants at the institution; and (5) be a Pell grant recipient. The applicant must not be in default or refund status for any federal Title IV aid at any institution.

Recipients and award amounts are determined by the Office of Student Financial Services.

Award Schedule

The award ranges from $100 to $4,000, depending on funding. A student may receive grants for the period required to complete a first baccalaureate degree.

Responsibilities of Recipients

The student must continue to make satisfactory academic progress.

National Science and Mathematics Access to Retain Talent (SMART) Grant

Selection of Recipients and Allocation of Awards

The applicant must (1) be a U.S. citizen; (2) be a federal Pell grant recipient; (3) be enrolled full-time in a degree program; (4) be enrolled in the first or second academic year of his or her program of study at a four-year degree-granting institution; (5) major in physical, life, or computer science, engineering, mathematics, technology, or a critical foreign language; and (6) have at least a cumulative grade point average of 3.00 for each semester an award is to be paid.

The Office of Student Financial Services is responsible for determining who receives the award and the amount.

Award Schedule

The award is up to $4,000 per academic year.

Responsibilities of Recipients

The student must continue to make satisfactory academic progress and have the required grade point average.

Federal Stafford Student Loan -- Subsidized (FLSSP)

Application Procedures

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 lender, servicer, and/or guarantee agency selected by the borrower. The agency generates the promissory note for the borrower to complete electronically or return a printed-out copy 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 Awards

The 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 United States 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 1.5 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 account.

Loan Schedule

An undergraduate may borrow up to $3,500 per academic year for the first year of study, $4,500 for the second (30-59 credits completed), and $5,500 for each additional undergraduate year (60 or more credits completed), up to a total of $23,000. 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 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 Borrowers

The student must continue to maintain satisfactory academic progress. The interest rate is a fixed rate of 5.6 percent for loans disbursed on or after July 1, 2009. 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 repayment 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.

Federal Stafford Student Loan -- Unsubsidized

Application Procedures

Application procedures are the same as for the subsidized federal Stafford loan.

Selection of Recipients and Allocation of Awards

Eligibility is the same as for the subsidized federal Stafford loan, except no demonstration of financial need is required. This program is available to students who may not qualify for subsidized federal Stafford loans or only for partial subsidized Stafford loans.

The interest rate is fixed at 6.8 percent. The origination fee and federal default fee are the same as for the subsidized Stafford loan.

Loan Schedule

The schedule is the same as for the subsidized federal Stafford loan. However, if the student is receiving a partial subsidized federal Stafford loan, the combination of the two loan programs cannot exceed the annual loan limit. Independent undergraduate students may borrow an additional $4,000 for the first and second year (fewer than 60 credits earned), and an additional $5,000 per year in subsequent years.  A student may also receive an additional $2,000 beyond the annual loan limit effective July 1, 2008. The aggregate total is $73,000 for undergraduate and graduate study combined.

Responsibilities of Borrowers

The requirements are the same as for the 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 Parent Loans for Undergraduate Students (PLUS)

Application Procedures

PLUS application forms are available only from participating lenders. In addition the parent borrower must complete a Parent Loan Request Form (PLRF), which can be obtained from the Office of Student Financial Services. Completion of the FAFSA is not required.

Selection of Recipients and Allocation of Awards

A borrower must be the parent of a financially dependent undergraduate. Student eligibility criteria are comparable to those for federal Stafford student loans, except PLUS loans require no financial need test.

An origination fee and default fee totaling 4 percent will be deducted from the loan amount.

Loan Schedule

The maximum of the 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. Repayment must begin 60 days after the loan is disbursed. Loan funds are made copayable to the borrower and Ithaca College. Two disbursements are required, regardless of loan period. The interest rate is a fixed rate of 8.5 percent.

Federal Perkins Loan

Application Procedures

Ithaca College's preferred application process is electronic. The College transmits pertinent information to its Perkins loan servicer and notifies the borrower. The borrower must then complete the master promissory note electronically. Repeat borrowers who have used the master promissory note need not complete another one. A borrower may elect to use a paper promissory note, but must advise the Office of Student Financial Services in writing. Information on loan cancellation provisions for borrowers who go into certain fields or specified military duty is available from the Student Billing Services.

Selection of Recipients and Allocation of Awards

The 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) if applicable, be registered with the Selective Service; and (4) demonstrate exceptional financial need relative to other applicants at the institution. The applicant must not be in default or refund status for any federal Title IV aid at any institution.

Financial need is determined by standardized need analysis, subject to adjustments by institutions. Recipients and loan amounts are determined by institutional financial aid administrators.

Award Schedule

Students in a program leading to a bachelor's degree may borrow up to $5,500 per year; graduate students may borrow up to $8,000 per year. The aggregate limit for undergraduate study is $27,500 with no more than $11,000 in the first two years of study.  The aggregate loan limits are $60,000 for graduate students, including undergraduate loans.

Responsibilities of Borrowers

The student must continue to maintain satisfactory academic progress. The current interest rate, payable during the repayment period, is 5 percent on the unpaid principal. Repayment begins nine months after graduation or leaving school, or after a student drops below half-time status, and may extend over a period of 10 years.

Information on deferments and loan cancellations for certain categories of borrowers is available from the Office of Student Financial Services.

For any of the federal loan programs (e.g., Perkins, PLUS, Stafford), if a borrower disputes the terms of the loan in writing and the lender (or institution) does not resolve the dispute, the borrower may contact the U.S. Department of Education, FSA Ombudsman, 830 First Street, NE Fourth Floor, Washington, D.C. 20202-5144, by phone at 877-557-2575, by fax at 202-275-0549, or online at http://ombudsman.ed.gov.

Federal Work-Study (FWS) Program

The FWS program provides employment opportunities for students.

Selection of Recipients and Allocation of Awards

The 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; and (5) demonstrate financial need.

Award Schedule

The postsecondary institution 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 student financial services office in determining whether, and for how many hours, the recipient may work under this program include financial need, class schedule, academic progress, and the student's health status.

Level of salary must be at least the minimum wage. The maximum salary allowed depends on the nature of the job and the applicant's qualifications.

Responsibilities of Recipients

The student must continue to maintain satisfactory academic progress. See the "Academic Standing Information" on the financial aid website for more information.
Academic Standing Information

Federal GEAR UP Scholarship

Application Procedures

Students must contact the state agency responsible for administration of the program.

Selection of Recipients and Allocation of Awards

To receive a GEAR UP (Gaining Early Awareness and Readiness for Undergraduate Programs) Scholarship, an eligible student must (1) be less than 22 years of age at the time of first scholarship award; (2) have received a secondary school diploma or its recognized equivalent on or after January 1, 1993; (3) be enrolled or accepted for enrollment in a program of undergraduate instruction at an institution of higher education that is located within the state's boundaries; and (4) have successfully participated in the early intervention component of a GEAR UP or NEISP project, or have participated in a federal TRIO program.

Individual states may determine the maximum amount of an eligible student's scholarship. The minimum amount of a scholarship must not be less than the lesser of the following: 75 percent of the average cost of attendance for an in-state student in a four-year program of instruction at a public institution in his or her state; or the maximum federal Pell grant for such fiscal year.

Source: GEAR UP, Office of Postsecondary Education, U.S. Department of Education, 1990 K Street, NW, Washington, D.C. 20006-8524. See the GEAR UP website for more information.
GEAR UP Website

Title IV Refund Procedure

Students attending Ithaca College who are receiving federal Title IV financial aid (e.g., federal Stafford, PLUS, or Perkins loans; federal Pell, FSEOG, ACG, or SMART grant funds) 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).

A refund schedule of tuition and room and board charges based on a 15-week semester is provided below.

1st week

100%

6th week

40%

2nd week

85%

7th week

30%

3rd week

70%

8th week

15%

4th week

60%

9th week

0%

5th week

50%

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, federal PLUS, federal Pell grant, ACG funds, SMART grants, 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.

Students who withdraw from an affiliated study abroad program must be attentive to refund deadlines, both those of the affiliate and those of Ithaca College, as there may be serious financial implications involved in withdrawing from a program near or after the start date of that program.

Students are responsible for informing both the affiliate organization and the Office of International Programs should they withdraw from a planned study abroad program.

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.

More detailed information, including examples of refund and repayment calculations, is available in the admission and the student financial services offices.

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.

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 (Perkins, PLUS, Stafford) begins from the student's last date of attendance as determined by the Office of Student Affairs and Campus Life. A student who is on an approved leave of absence will be considered as 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 under "Leaves of Absence, Withdrawals, and Readmissions"  in the "Academic Information" section.
    Leaves of Absence, Withdrawals, and Readmissions
  • 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 required to be counseled by the Office of Student Financial Services to discuss the consequences of their changed status on loan programs.

Reserve Officers Training Corps (ROTC)

The U.S. Reserve Officer Training Corps (ROTC) programs include the U.S. Army, Navy-Marine Corps, and Air Force ROTC programs. These programs are offered at host colleges throughout the nation, including many colleges located in New York State. Ithaca College participates only with the army and air force ROTC programs in partnership with Cornell University. To inquire into army ROTC call 607-255-4006; for air force ROTC, call 607-255-4004.

Each of the three programs has separate application procedures, eligibility requirements, scholarship award schedules, and service obligations. All programs offer merit-based scholarships to undergraduates, with some assistance available for graduate students, depending on the service.

Additional information about the different service programs and a list of the colleges hosting them can be obtained through the following websites:

Army ROTC -- http://armyrotc.cornell.edu/

Navy ROTC --  https://www.nrotc.navy.mil

Air Force ROTC --  http://www.afrotc.com

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 families. Detailed information on all veterans' benefits can be obtained from regional and local Veterans Administration offices or from VA headquarters: Department of Veterans Affairs, Washington, DC 20420, or by telephone at 1-888-442-4551. In New York State, there are VA centers in Albany, Babylon, the Bronx, Brooklyn, Buffalo, Elmhurst, Manhattan, Rochester, Syracuse, and White Plains.

Complete information on veterans' benefits may be found at the U.S. Department of Veterans Affairs website, www.gibill.va.gov, or at a local veterans affairs office.
Department of Veterans Affairs

Post-9/11 GI Bill

This program provides up to the cost of tuition and fees, not to exceed the most expensive in-state undergraduate tuition at a public higher education institution, a monthly allowance for living expenses, a book and supplies stipend, and a one-time payment of $500 for those relocating from highly rural areas. Ithaca College is a Yellow Ribbon Program participant.

All-Volunteer Force Educational Assistance (Montgomery GI Bill Active Duty)

This program primarily serves individuals entering military service on or after July 1, 1985. The program allows basic pay to be reduced monthly for the first 12 months of service in order to be eligible for as much as 36 months of educational assistance. A Selected Reserve Educational Assistance Program is also available to help members of the Selected Reserve pay for study leading to an undergraduate degree, or for nondegree programs at institutions of higher learning. Educational assistance must be used within 10 years of a veteran's first date of discharge or release from service, with some exceptions.

Survivors and Dependents Educational Assistance

A monthly allowance is available to help pay the educational expenses of spouses, surviving spouses, or dependent children between the ages of 18 and 26 of service persons who are permanently and completely disabled from service-connected causes, who have died as a result of service or as a result of service-connected disabilities, who are missing in action, or who have been forcibly detained by a foreign nation for more than 90 days.