T

his brochure contains important

information about your nancial aid

offer and directions for accepting and

nalizing your awards. Please read

this document carefully and retain it for future

reference. Students and parents are responsible

for all information and instructions it contains. If

you require additional information or need

further clarification of procedures outlined in

are based on the financial information and

family circumstances submitted on the Free

Application for Federal Student Aid (FAFSA).

Some aid offer funds may be dependent on

verification of actual financial data (See “How

to Accept and Finalize Your Financial Aid”).

The following explains information on the

Financial Aid Offer.

Plan Costs

and housing status as reported on the FAFSA.

For off-campus residents, the estimated costs

include an allowance for off-campus housing

costs.

In addition to University charges, students need

to plan for books, supplies, travel, and personal

expenses. These expenses may differ according

to the student’s major, distance from school, and

lifestyle.

academic scholarships, some nancial aid

offers are estimated pending documentation of

final 2021 family income and completion of the

verification process, if required. State grant

estimates are based on the family nancial

data available at the time of application review.

Final state grant awards will be conrmed to

the student by their state grant agency. For

New York State residents, actual TAP awards

are determined by the New York State Higher

federal, and state financial aid programs may be

available for the student's educational expenses.

These may include private scholarships such as

high school and local civic organization awards,

veteran’s benefits, tuition benefits, or a state

agency grant. Federal regulations and University

aid practices require that these resources be used

to meet a student’s financial need.

It is your responsibility to notify the Alfred

University Office of Student Financial Aid if you

the Office of Student Financial Aid. Financial aid

awards may be affected by the student’s housing

status.

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Financial Aid at

Alfred University

Ofce of Student Financial Aid

Alu

mni Hall

alfred.edu/admissions/financial-aid

Financial Aid Program

_____________________________________

Alfred University Academic Scholarships

Academic scholarships are merit-based awards

provided each year to entering freshman and

transfer students. Selection of scholarship

recipients is based on the information submitted

as a candidate for admission and is coordinated

Alfred University Endowed Grants and

Scholarships

These awards are made possible by the annual

earnings of restricted gifts invested with Alfred

University’s endowment fund. Students selected

to receive these awards must meet criteria as

specied by each individual donor and, in most

cases, demonstrate nancial need.

Alfred University Trustee and Ceramic

Grants

progress, and demonstrate nancial need to

continue receiving funds.

Alfred University On-Campus Housing

Grant

Housing grants are University-funded grant

awards based on nancial need as determined

by the Ofce of Student Financial Aid. Students

must reside in a University owned or operated

housing facility to receive this grant. In addition

to residing in University housing, students must

demonstrate nancial need. Students are eligible

to borrow the amount listed on their Financial

Aid Offer. Repayment of the loan, plus interest,

begins nine months after the student graduates,

separates from Alfred University, or is enrolled

for less than six credit hours. The interest rate is

5% simple interest. The repayment period may

extend up to 10 years, depending on the amount

$50. Deferment options are available.

You can contact the New York State Higher

Education Services Corporation Scholarship

Unit at 888.697.4372 or scholarships@hesc.

ny.gov with questions about ETA.

At Alfred University students in the School

of Art & Design and the Inamori School of

Engineering for the Public Sector which

exceed the SUNY tuition amount ($7,070),

Alfred University students are not eligible to

receive any funding under the Excelsior

Scholarship program.

Federal Pell Grant

Provided by the federal government, Pell Grants

are awarded to undergraduate students based on

need using the Federal Need Analysis

Methodology. Currently awards range up to

$6,895 per academic year. Annual Pell Grant

are awarded by the Office of Student Financial

Aid to students who demonstrate high financial

need under the Federal Needs Analysis

Methodology and are eligible for the Federal

Pell Grant.

Federal Direct Loan (FDL)

The FDL is a federal financial aid program

under which loan funds are made available to

students through the U.S. Department of

Education.

qualifies for a subsidized loan, the federal

government does not charge interest while the

student is enrolled in school on at least a half-

time basis and for six months afterwards (grace

period).

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Under the Unsubsidized Direct Loan, interest

accrues while the student is enrolled in school.

There are two options available for students

regarding the interest expense. Students may

make interest payments while enrolled, or

subsidized and unsubsidized Direct Loan.

Repayment of loan principal begins six months

after the student ceases to be enrolled on at least

a half-time basis. The standard repayment period

may extend up to ten years depending on the

total amount borrowed. The minimum monthly

payment is $50.

Dependent undergraduate students may borrow

up to the following annual FDL limits: $5,500

for freshmen (up to $3,500 may be subsidized),

the following annual FDL limits: $9,500 for

freshmen (up to $3,500 may be subsidized),

$10,500 for sophomores (up to $4,500 may be

subsidized), and $12,500 for juniors and seniors

(up to $5,500 may be subsidized).

Graduate students may borrow up to $20,500

each academic year in unsubsidized Direct Loan.

The graduate student interest rate is 5.28%.

Students may not borrow more than their annual

loan limit in any combination of subsidized or

Eligibility for the subsidized and unsubsidized FDL

amounts are determined by the Ofce of Student

Financial Aid according to federal guidelines.

Students may borrow up to the amounts indicated

on their Financial Aid Offer.

Federal Parent Loan for Undergraduate

Students (PLUS)

PLUS is a federal loan program available to the

parents of dependent undergraduate students

to assist with the nancing of education. The

days after each annual disbursement, or principal

and interest payments may be deferred while the

student is enrolled at least half time. Currently,

PLUS Loans have a fixed interest rate of 7.54%

which is set by the federal government. PLUS

Loans have federally mandated fees of 4.228%

which are deducted from the loan at

disbursement. The standard repayment period

may extend up to ten years, depending on the

amount borrowed.

need based loan. Borrowers must demonstrate a

satisfactory credit rating to participate. Students

may borrow up to the cost of attendance less any

other financial aid resources. The interest rate is

a fixed rate and is currently 6.54%. Although

interest expense is incurred during enrollment,

students may defer payment of principle

and interest while enrolled at least half-time.

Graduate PLUS Loans have federally mandated

fees of 4.228% which are deducted from the loan

student’s Banner Web (banweb.alfred.edu) under

“Award for Aid Year/Accept Award Offer” in

the Financial Aid tab. For new students detailed

instructions can be found in the email of the

financial aid offer.

Regulations governing Federal Student Aid

(FSA) Programs require Alfred University to

obtain permission from the student to use FSA

funds to pay for allowable charges other than

authorization at any time by sending written

notication to the Alfred University Ofce of

You may accept or decline any portion of the

nancial aid offered. Please note: if you decline

any type of assistance (scholarship, grant,

Verication Policy

additional documents such as IRS tax return

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withdrawn.

aid eligibility due to verication through

a revised Financial Aid Offer. The revised

Financial Aid Offer can be viewed in Banner

Web.

Student Loans: Federal Direct Loan (FDL)

of Student Financial Aid has electronic access

to student records at the federal processor and

monitors Alfred University students’ records. If

the student needs to take action to complete his

indicated they are NY State residents and listed a

NY State college on the FAFSA will be directed

to a web-based TAP Application. Students who

do not complete the web-based TAP Application

will need to go to https://www.tap.hesc.ny.gov

and start the TAP application.

Some items on the web TAP Application will

already be completed, based on the FAFSA

information. Be sure to carefully review

every pre-entered TAP Application item for

of Engineering for the Private Sector which

includes programs in Mechanical, Renewable

Energy, and Undecided Engineering; and the

College of Liberal Arts & Sciences. Use code

0960 for all other Engineering Programs and

the School of Art & Design.

Enrollment Conditions

_____________________________________

High School Diploma/Special Students

Generally, to receive any type of federal or state

Unless stated otherwise on the Financial Aid

Offer, the student’s enrollment status is assumed

to be full-time (12 or more credits per semester).

If a student’s intended enrollment status is

less than full-time and noted incorrectly on

the Award Notice, please contact the Ofce of

Student Financial Aid.

Students considering a study abroad/away

experience should meet with a nancial aid

study abroad must rst meet with the Alfred

University International Programs Ofce prior

to scheduling an appointment to review study

abroad aid options with the Ofce of Student

Financial Aid. Students will need information

from the International Programs Ofce for their

nancial aid appointment.

Students on co-op assignment for a semester are

considered engaged in a full-time educational

be on co-op should notify the Ofce of Student

Financial Aid.

Financial Aid Offer fund payments are rst

applied to University charges. This practice is

applicable to all federal, state, and University

nancial aid programs as well as private

scholarships unless the private scholarship is

specically designated for another purpose by

the scholarship sponsor.

If a student has an On-Campus Housing Grant

as part of their University aid, this grant will be

removed from the Financial Aid Offer when the

student moves off campus.

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Alfred University does not provide scholarship

and need-based grant assistance for less than

full-time enrollment (12 credit hours per

_____________________________________

Students are requested to report any changes in

nancial aid application data or academic status

to the Ofce of Student Financial Aid. Students

are required to report changes for the following

data: housing status, academic program, number

of family members attending college, enrollment

educational expenses, you may wish to request a

review of your nancial aid eligibility. Requests

for a review of aid eligibility should be made

in writing and submitted with documentation.

Contact the Ofce of Student Financial Aid

prior to submitting a written request to discuss

your circumstances and receive guidance for the

appeal.

Students withdrawing from courses or taking an

impact a student’s nancial aid eligibility for the

next semester or year.

_____________________________________

_

scholarship/grant, tuition benets from student’s

or parent’s employer, Veteran’s Administration

Educational Benets, state agency payments,

and private student loans for education.

was not known at the time the student’s

Financial Aid Offer was prepared, may require

a reevaluation of the Financial Aid Offer and an

adjustment to awards.

For federal and state nancial aid programs,

Alfred University follows current regulations

and guidance in effect with regard to

coordinating other nancial aid resources with

federal and state funds.

For University funded need-based aid awarded

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Awards

_____________________________________

Renewal consideration for all categories of aid

depends upon a student achieving satisfactory

academic progress and good academic standing,

as defined by the aid provider.

Progress Standards

To receive financial aid, students must

demonstrate minimum standards in their

financial aid programs.

A review of satisfactory academic progress for

all financial aid programs is performed at the

end of each semester after final grades are

posted by the Registrar. All aid recipients and

applicants are reviewed even if the student

attended only one semester during the academic

year. For New York State aid, satisfactory

academic progress and program pursuit

requirements are reviewed each semester.

generally must be enrolled for at least six credit

hours per semester in a degree granting program

to receive funds. New York State aid awards

generally require full-time enrollment.

Financial Need

For all need-based University, federal, and state

initial semester billing, the Student Accounts

Office will periodically update billing records

throughout the semester.

The Alfred University on-line billing system is

called CASHNet. Students are able to access

CASHNet after they have activated their Alfred

University ITS account. ITS will provide

students with instructions for activating their

Alfred University computer system account once

the student has paid the enrollment deposit.

authorization. Aid reflected on the bill as a credit

means the aid is complete and payment has been

made. Authorized aid is also complete, but is

pending disbursement or receipt of external

funds. Aid programs which are not complete will

appear on the bill as a memo. Memo means the

aid is incomplete, but the student is expected to

receive the aid in the amount indicated once the

aid process is complete for that program.

Clerical Errors

_____________________________________

The administration and coordination of the

various financial aid programs is a complex

process. Although the University makes every

effort to be accurate and error free, clerical and

Refund Policy

_____________________________________

consult the Student Accounts Website at https://

Student Service Center at 607·871·2123.

Withdrawing from the University

It is important that the student formally withdraw

from the University since the

refund is determined by the date of receipt

of the withdrawal notice. Formal withdrawal

procedures begin with the Student Affairs

Central Office located in Powell Campus Center.

Student Affairs can be reached at

Tuition, Fees, and Housing Charges

When students withdraw from the University

during the fall or spring semester, refunds on

tuition, fees, and housing charges are as follows:

withdrawal before the 1st day of classes, 100%

withdrawal during the 6th week, 40% refund.

For withdrawals after the 8th week of classes,

there is no refund.

Housing Contracts

In addition to the refund computation above,

students who break a housing contract for

reasons other than withdrawal from school are

charged a breakage fee by Residence Life.

Students who withdraw from school for medical

reasons or take a medical leave of absence after

classes begin are refunded based on the

following proration of charges. Tuition, fees and

housing charges: 100% refund if withdrawal is

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back to the aid program according to the refund

policy for tuition.

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Brielle Studer