SUNY Oswego is committed to providing students with comprehensive financial aid packages to make higher education affordable. This guide provides an in-depth look at the various types of financial aid available, eligibility requirements, and application processes.
Types of Financial Aid
SUNY Oswego offers a wide range of financial aid options, including:
- Grants: Free money that does not need to be repaid.
- Scholarships: Merit-based awards that are based on academic achievement, talents, or other criteria.
- Loans: Funds that must be repaid with interest.
- Work-Study: On-campus jobs that allow students to earn money to cover educational expenses.
Eligibility Requirements
To be eligible for financial aid, students must meet certain criteria, including:
- Be a U.S. citizen or eligible non-citizen.
- Have a high school diploma or equivalent.
- Be enrolled in a degree-granting program at SUNY Oswego.
- Demonstrate financial need (for need-based aid).
Application Process
The first step in applying for financial aid is to complete the Free Application for Federal Student Aid (FAFSA). The FAFSA is available online at www.fafsa.gov and should be submitted as soon as possible after October 1st.
SUNY Oswego also requires students to submit additional documents, such as:
- Official transcripts
- Proof of income and assets
- Parent information (for dependent students)
Types of Grants
SUNY Oswego offers several types of grants, including:
- Federal Pell Grant: Up to $6,495 per year for students with exceptional financial need.
- Federal Supplemental Educational Opportunity Grant (SEOG): Up to $4,000 per year for students with financial need who are enrolled in an undergraduate program.
- New York State Tuition Assistance Program (TAP): Up to $5,500 per year for New York State residents who are enrolled in an undergraduate program.
- SUNY Educational Opportunity Program (EOP): Up to $10,000 per year for students who are from disadvantaged backgrounds and meet certain income requirements.
Types of Scholarships
SUNY Oswego offers numerous scholarships, including:
- Presidential Scholarship: Up to $10,000 per year for incoming freshmen with a GPA of 3.9 or higher.
- Dean’s Scholarship: Up to $7,500 per year for incoming freshmen with a GPA of 3.6 or higher.
- Athletic Scholarships: Partial or full scholarships for students who participate in intercollegiate athletics.
- Academic Scholarships: Based on academic achievement in specific academic disciplines.
- Talent Scholarships: Based on talents in music, art, or other areas.
Types of Loans
SUNY Oswego offers several types of loans, including:
- Federal Direct Subsidized Loan: Up to $3,500 per year for undergraduate students with financial need.
- Federal Direct Unsubsidized Loan: Up to $5,500 per year for undergraduate students regardless of financial need.
- Federal Direct PLUS Loan: Up to the cost of attendance minus other financial aid for parents of undergraduate students.
- Private Loans: Loans from private banks or lending institutions that may have higher interest rates and fees.
Work-Study Program
The Work-Study Program provides on-campus jobs to students who demonstrate financial need. Students can work up to 20 hours per week and earn money to cover educational expenses.
Calculating Financial Need
SUNY Oswego uses the Expected Family Contribution (EFC) to determine a student’s financial need. The EFC is calculated using information from the FAFSA and takes into account factors such as income, assets, and family size.
The formula for calculating EFC is:
EFC = 0.56 * (Adjusted Gross Income + Untaxed Income + Benefits) - (Income Protection Allowance) - (State Income Tax Allowance) - (Federal Income Tax Allowance) - (Social Security Tax Allowance) - (Various Allowances)
Applying for Financial Aid
To apply for financial aid, students should follow these steps:
- Complete the FAFSA online at www.fafsa.gov.
- Submit additional documents to SUNY Oswego’s Financial Aid Office.
- Meet with a financial aid counselor to review your application and discuss your options.
- Accept or decline your financial aid award.
Deadlines
SUNY Oswego has the following financial aid deadlines:
- Priority Deadline: March 15th
- Regular Deadline: June 30th
- Late Deadline: Up to 30 days after the start of classes (limited funding available)
Resources
For more information about financial aid at SUNY Oswego, visit the following resources:
- Financial Aid Office website: www.oswego.edu/finaid
- Financial Aid Hotline: (315) 312-2222
- Email: [email protected]
Conclusion
SUNY Oswego offers a wide range of financial aid options to help students make higher education affordable. By completing the FAFSA and submitting additional documents, students can maximize their eligibility for grants, scholarships, loans, and work-study programs. The financial aid staff is available to assist students throughout the application process and provide guidance on managing educational expenses.
