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The Office of Financial Aid


 

(2/22/12) Undergraduate students please note the changes scheduled to affect the Pell Program.

The Federal Pell program provides assistance in the form of a grant to undergraduate students.

Pell eligibility is determined by the Expected Family Contribution (EFC) calculated from the information provided on the FAFSA. The 2012-2013 awards range from $577 to $5550 for full-time enrollment for two semesters.

The amount of Pell received will depend on the student's EFC and academic status. Students may not receive Pell Grant funds from more than one school at a time.

Students will be limited to 12 full-time semesters of Pell Grant.

Effective with the 2011-2012 award year, students will no longer be eligible to receive more than one schedule Pell Grant Award within an award year.

Summer 2012 Pell

Students who attend less than full-time in the summer and receive a less than full-time summer Pell Grant will see a reduced spring Pell award. Students who attend full time in the summer and receive a full-time summer Pell award will not be eligible for a spring Pell award.

Example A: Annual Schedule Pell Award is $5550. Student attends half- time summer, full-time fall and spring.
Enrollment Status: half-time summer full-time fall full-time spring
Pell Award $1,388 $2,775 $1,387

Example B: Annual Schedule Pell Award is $5550. Student attends full-time summer, fall and spring.
Enrollment Status: full-time summer full-time fall full-time spring
Pell Award $2,775 $2,775 $0

(2/21/12) Undergraduate students please note the changes scheduled to affect the Direct Loan Program for the 2012-2013 academic year.

  1. Interest Rate: For the 2011-2012 academic year, the interest rate on Direct Subsidized Stafford Loans is 3.4%. Pending final legislation, all Direct Stafford Loans first disbursed on or after July 1, 2012, will have a fixed interest rate of 6.8%.

  2. Origination Fee: The Budget Control Act of 2011 eliminates all reductions in origination fees. For loans first disbursed on or after July 1, 2012, the origination fee will be 1.0% on Direct Stafford loans and 4.0% on Direct PLUS loans. The origination fee will be deducted from the gross amount of the loan.

  3. Grace Period: The Consolidated Appropriations Act of 2012 eliminates the interest subsidy on Direct Subsidized loans during the six month grace period for students who are no longer enrolled at least half-time. This change applies to Direct Subsidized Stafford loans first disbursed on or after July 1, 2012 and prior to July 1, 2014.

(2/16/12) Graduate students please note the changes scheduled to affect the Direct Loan Program for the 2012-2013 academic year.

The Budget Control Act of 2011 was passed into law on August 2, 2011. This Act addresses the Federal Direct Loan Program and impacts graduate students borrowing federal loans for the 2012 - 2013 academic year. These changes will not impact loans borrowed for periods of enrollment prior to July 1, 2012.

As a graduate student, your annual Direct Stafford Loan limit will remain unchanged at a maximum of $20,500. However, for loan periods beginning on or after July 1, 2012 the interest subsidy has been eliminated. Eligibility will be limited to Direct Unsubsidized Loans, which means interest will accrue from the time of disbursement. Please refer to the following chart for a summary of annual loan limits for graduate students.

In addition, the Budget Control Act eliminates any reduction in origination fee. Loans first disbursed on or after July 1, 2012, will have origination fees of 1.0% on Stafford Loans and 4.0% on Graduate PLUS Loans. Please note the origination fee will be deducted from the gross amount of the loan.

Additional information will be added here as it becomes available. Please check back periodically.

(2/01/12) UAlbany Scholarships

Our scholarship site is now open for the 2012-2013 academic year. If you submitted an application for any previous academic year you can use the same password to access and revise the 2012-2013 application. The scholarship site will be available until June 31, 2012.

UAlbany Scholarship Website [link]


(1/24/12) 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 15th.

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.

Helpful 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.

NYS HESC FAFSA Telephone Support

HESC's special FAFSA Assistance Hotline, 1-800-808-1790, offers live help for your students and their parents each Tuesday and Thursday from noon to 5:00 pm to answer any questions about completing the Free Application for Federal Student Aid (FAFSA).

 
 

(8/5/11) - SUNY Tuition Credit

In late June 2011, the New York State Legislature passed Governor Cuomo's NY-SUNY 2020 Plan, which enacts a rational five year tuition increase for the State University of New York (SUNY). In order to maintain access and affordability for students and their families, Governor Cuomo's NY-SUNY Plan includes a SUNY Tuition Credit. As a part of this plan, if you have applied and are eligible for TAP, you will also be eligible for the SUNY Tuition Credit. Students who are ineligible for TAP for any reason will not receive the credit. If eligible, this credit will appear on your bill as anticipated aid.

 
 

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, call 518-442-3202 or visit Ask UAlbany, the UAlbany virtual advisor.

RELATED LINKS

Learn More About

Ask UAlbany

  • The Office of
    Financial Aid

    University at Albany, State University of New York
  • Campus Center G-25 1400 Washington Avenue Albany, NY 12222
  • Telephone
    (518) 442-3202
  • Fax
    (518) 442-5295
  • Student Financial Center
    Email
  • UAlbany
    NYS TAP School Code: 0895
  • UAlbany
    Federal School Code: 002835
  • FAFSA