Financial Aid & Student Accounts
Student Financial Services
Attending UAlbany is an investment in your future.
Welcome to Student Financial Services, home to the offices of Financial Aid and Student Accounts/Bursar. The University at Albany provides both merit aid and need-based aid, as well as payment plans and other assistance, to help you achieve your dreams.
What is financial aid and who is it for?
Financial aid helps students pay for college. We encourage every student to apply for financial aid, even if they don’t think they will qualify for assistance. Over 80% of our undergraduate students apply and about 60% receive money they don’t need to pay back.
To determine if you qualify for financial aid, complete the Free Application for Federal Student Aid (FAFSA). New York State residents and students meeting NYS Dream Act eligibility should also complete all necessary New York State grants and scholarships applications.
What types of financial aid are available?
There are two categories of financial aid: gift aid and self-help aid.
Gift aid is free money — also referred to as grants and scholarships that students do not pay back. It’s awarded based on merit or financial need.
Merit scholarships are generally awarded based on academic aptitude or another unique skill. Students are notified of their merit award(s) by the Office of Undergraduate Admissions.
Financial need can only be determined by filing the FAFSA.
Self-help aid is money students eventually pay back or work to earn — typically in the form of federal or private student loans, or federal work-study.
Students must repay federal student loans, unless a certain situation permits student loan forgiveness.
For federal work-study, students — generally those with the highest needs — are paid to work in various departments across campus and the community.
How do I apply for financial aid?
If financial aid doesn’t cover my entire bill, how can I make up the difference?
When comparing college costs, it is important to always be aware of the bottom line — meaning the money you pay after financial aid.
Direct expenses at UAlbany include tuition, fees, room and board. To determine how much you’ll need to pay, add up those direct expenses, then subtract all financial aid you’ve been offered.
If you’re left with a balance to pay, consider the following options:
Split your balance into equal installments by enrolling in the University's payment plan.
Apply for a Direct PLUS Loan. A PLUS Loan allows for a student's parent to finance the remaining cost of attendance.
Apply for a private student loan. The student is the primary borrower and will likely require a cosigner.
Seek on- or off-campus employment.
Apply for additional scholarships. Consider the University at Albany Foundation and Alumni Association scholarships, as well as outside scholarships.