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The Office of Financial Aid

 

UAlbany Scholarships Application Opening Date

Opening dates and their respective due dates for scholarship applications to be submitted are;

  • *University at Albany Foundation Endowed Scholarships - Opening Date January 15, 2015 and Due Date July 15, 2015
  • *University at Albany Alumni Association Scholarships - Opening Date January 15, 2015 and Due Date March 6, 2015
  • *University at Albany School of Business Scholarships - Opening Date January 15, 2015 and Due Date March 6, 2015
  • *Please Note: * If you submitted an application for any previous academic year you can use the same password to access and revise the 2014-2015 application.
  • * Scholarship funds are limited. Meeting the application requirements and scholarship criteria does not imply that you will necessarily receive a scholarship.
  • * Students who are awarded a University at Albany Foundation endowed scholarship will be notified via email.

FAFSA Filing Dates

Available every year after January 1st, the FAFSA should be completed and submitted on-line through www.fafsa.ed.gov.

Prospective students wishing to receive priority consideration for aid administered by the Office of Financial Aid must have completed the FAFSA and received an official expected family contribution from the Department of Education by March 1st.

Continuing students wishing to receive priority consideration for aid administered by the Office of Financial Aid must have completed the FAFSA and received an official expected family contribution from the Department of Education by April 15th.


IRS Data Retrieval Tool Video Instructions

UAlbany would like to thank the University of California, Santa Barbara for their permission to use and share the IRS Data Retrieval Tool video.


FAFSA Filers: Use the IRS Data Retrieval Tool

Students and parents who have filed their 2013 federal tax returns will be able to select the IRS Data Retrieval option on the FAFSA to transfer their tax information directly from their federal tax return to their FAFSA application. Federal Tax Returns must be electronically filed at least two weeks (or 6-8 weeks if filing paper returns) before using the IRS Data Retrieval process.

We strongly encourage you and your parents to use the IRS Data Retrieval Tool which is the fastest and easiest way to provide accurate tax information. The IRS tax information can be reviewed first before being transferred directly into your FAFSA.


2014-2015 Direct Loan Interest Rates

For Direct Loans first disbursed on or after July 01, 2014 and through June 30, 2015, the interest rates are scheduled to be the following:

  • Direct Subsidized (Undergraduates) - 4.66%
  • Direct Unsubsidized (Undergraduates) - 4.66%
  • Direct Unsubsidized (Graduates) - 6.21%
  • Direct PLUS (Parents/Graduates) - 7.21%

Please note, these fixed interest rates apply to the period of July 01, 2014 to June 30, 2015. Fixed interest rates on subsequent loans for 2015 - 2016 and thereafter are subject to change.


SUNY Smart Track Financial Literacy Tool

University at Albany is pleased to announce a SUNY wide interactive financial literacy tool to help students get on the Smart Track for every financial decision from paying your tuition, to purchasing a home. Click the button below to begin your Smart Track experience!

Attention Smart Track Users

We have been made aware there is an incompatibility issue with Internet Explorer 11 (IE 11) and Flash. Until Microsoft resolves the issue, we recommend using a different browser such as Firefox or Chrome, or a lower version of Internet Explorer.


Helpful FAFSA Filing Resources

Department of Education FAFSA Telephone Support

The Department of Education provides telephone support to FAFSA applicants who have questions about how to complete or make corrections to the FAFSA.  Contact the Department of Education support line at (800) 433-3243.


New Borrower Alert

Have you completed your Direct Stafford Entrance Counseling?

Direct Stafford Loan Entrance Counseling is mandatory for all first time borrowers attending UAlbany. Please be aware Entrance Counseling is different than the Financial Awareness Counseling Tool (FACT). Completion of FACT does not satisfy Entrance Counseling requirements. You must complete Entrance Counseling at www.studentloans.gov. Refer to your "to-do" items to determine if Entrance Counseling needs completion.

Have you completed your Direct Stafford Loan Master Promissory Note (MPN)?

The Direct Stafford Loan MPN is mandatory for all first time Direct Loan borrowers attending UAlbany. The MPN is a legal document in which you promise to repay your loan(s) and any accrued interest and fees. The MPN explains the terms and conditions of your loan(s). Your MPN is valid for 10 years, so you will most likely need to complete this only once while attending UAlbany. The MPN must be completed at www.studentloans.gov. Refer to your "to-do" items to determine if the MPN needs completion.


Direct Loan Fee Increase

Due to Federal Sequestration, all Direct Loans first disbursed on or after December 01, 2013 are subject to a loan fee increase.

  • For a Direct Subsidized or Direct Unsubsidized Loan, the loan fee will increase from 1.051% of the principal amount of the loan to 1.072%.
  • For Direct PLUS for both parent and graduate student borrowers, the loan fee will increase from 4.204% to 4.288%.

Please be aware a new PLUS application may be needed if the original application was completed prior to the loan fee increase effective on December 01, 2013. You can monitor your award status at MyUAlbany and contact the Student Financial Center with any questions.

 

Useful College Planning Tools

Below are four consumer information tools students and families will find helpful in assessing college costs and comparing important college information.

The College Scorecard includes essential information about a particular college's cost, its graduation rates and the average amount its students borrow. The College Scorecard is a planning tool and resource to assist students and families as they evaluate options in selecting a school.

College Navigator is an interactive website that allows you to explore and compare features of different institutions, including tuition and fees, retention and graduation rates, use of financial aid and student loan default rates. The College Navigator also features a cost calculator and school comparison tool.

The Financial Aid Shopping Sheet is a model financial aid award letter designed to simplify the information prospective students receive about costs and financial aid. Many colleges and universities have adapted a Shopping Sheet. This tool is designed to provide an easy way to make clear comparisons among institutions and make informed decisions about where to attend school.

The Paying for College webpage can be used by prospective students to enter the names and actual financial aid award information to compare up to three schools.



FAFSA Filing Dates

Available every year after January 1st, the FAFSA should be completed and submitted on-line through www.fafsa.ed.gov.

Prospective students wishing to receive priority consideration for aid administered by the Office of Financial Aid must have completed the FAFSA and received an official expected family contribution from the Department of Education by March 1st.

Continuing students wishing to receive priority consideration for aid administered by the Office of Financial Aid must have completed the FAFSA and received an official expected family contribution from the Department of Education by April 15th.



Use the IRS Data Retrieval Tool

Starting in February, students and parents who have filed their 2013 federal tax returns will be able to select the IRS Data Retrieval option on the FAFSA to transfer tax information to the FAFSA. Federal Tax Returns must be electronically filed at least two weeks (or 6-8 weeks if filing paper returns) before using the IRS Data Retrieval process.

We strongly encourage you and your parents to use the IRS Data Retrieval Tool which is the fastest and easiest way to provide accurate tax information. The IRS tax information can be reviewed first before being transferred directly into your FAFSA.

 
 

The Office of Financial Aid is responsible for the administration of state, federal and institutional financial aid programs.  In conjunction with the Student Financial Center, the Office of Financial Aid assists students and families in navigating the financial aid process.

For assistance, visit the Student Financial Center located in the Campus Center G26, or call the Student Financial Center at (518) 442-3202.