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The Office of Financial Aid

 

Spring 2018 Excelsior Scholarship Application

The Excelsior Scholarship application for the spring 2018 semester is scheduled to open Monday, October 30 at 9:00am. The application will be available at hesc.ny.gov/excelsior. The application is scheduled to be available for five weeks, but may be subject to change by HESC.

The spring 2018 application is open to students first entering college in the spring 2018 term, students who caught up on credits during the fall 2017 term to meet the credit requirement, and current college students who missed the deadline for the fall 2017 application.

Current Excelsior Scholarship recipients should not complete this application. For students who first received an award in fall 2017, no additional action is needed for the spring term.

Please contact the HESC Scholarship Unit at excelsior@hesc.ny.gov if you have any questions.


Change in Direct Loan Origination Fees

Direct Loans disbursed for the first time on or after October 01, 2017 will be subject to the following origination fees:

  • Direct Subsidized (Undergraduates) - 1.066%
  • Direct Unsubsidized (Undergraduates) - 1.066%
  • Direct Unsubsidized (Graduates) - 1.066%
  • Direct PLUS (Parents/Graduates) - 4.264%

Please note: these new origination fees apply to the period of October 01, 2017 to September 30, 2018. Origination fees on subsequent loans first disbursed on or after October 01, 2018 are subject to change.


Federal Aid Census Date

The Federal Aid Census Date (last day of late registration for the semester) is used by the Office of Financial Aid to confirm your enrollment status and subsequent federal financial aid eligibility. Fulltime study, defined as being enrolled in 12 or more credits applicable toward your degree is determined by your enrollment on the Census Date. Note: The last day of late registration for fall 2017 is September 11, 2017.


2017-2018 Direct Loan Interest Rates

For Direct Loans first disbursed on or after July 01, 2017 and through June 30, 2018, the interest rates are scheduled to be the following:

  • Direct Subsidized (Undergraduates) - 4.45%
  • Direct Unsubsidized (Undergraduates) - 4.45%
  • Direct Unsubsidized (Graduates) - 6.00%
  • Direct PLUS (Parents/Graduates) - 7.00%

Please note, these fixed interest rates apply to the period of July 01, 2017 to June 30, 2018. Fixed interest rates on subsequent loans for 2018 - 2019 and thereafter are subject to change.


Changes to 2017-2018 Verification Requirements

Effective immediately the UAlbany Financial Aid Office will now accept the following:

  • Complete signed copies of parent and/or student 2015 IRS tax returns in place of previously requested official 2015 IRS tax transcripts.

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.


Change in Direct Loan Origination Fees

Direct Loans disbursed for the first time on or after October 01, 2016 will be subject to the following origination fees:

  • Direct Subsidized (Undergraduates) - 1.069%
  • Direct Unsubsidized (Undergraduates) - 1.069%
  • Direct Unsubsidized (Graduates) - 1.069%
  • Direct PLUS (Parents/Graduates) - 4.276%

Please note: these new origination fees apply to the period of October 01, 2016 to September 30, 2017. Origination fees on subsequent loans first disbursed on or after October 01, 2017 are subject to change.


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.


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.

 

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.