Federal Financial Aid

Eligibility: To be eligible for any of the federal financial aid programs, a student must:

1. be a U.S. citizen, or
2. be an eligible non-citizen, and
3. be matriculated, and
4. take at least six equated credits a semester, unless otherwise noted below, and
5. not be in default of a Federal Loan (Perkins, Stafford, or Direct Loan) or have completed the required process to qualify for "Renewed Eligibility" and
6. not owe a refund on any Title IV Grant, and
7. be making satisfactory progress toward a degree, and
8. provide proof of high school graduation or its equivalent.

Federal Programs

Federal PELL Grant Program: For eligible students, the grant will vary depending on whether the student is less than half-time, half-time, three-quarter-time, or full-time. A student must be an undergraduate who has not already earned a bachelor's degree. A student usually receives half of the Federal Pell Grant in the fall semester and half in the spring semester. College seniors who will graduate at the end of the fall semester are eligible to have their first disbursement of a Federal Pell Grant in the summer and the last disbursement in the fall, provided they submit a written request to the Financial Aid Office. Students who received less than a full-time Pell Grant in the fall or spring semester may receive a disbursement the following summer term from the same award.

Federal Supplemental Educational Opportunity Grant Program: Grants are targeted to Federal Pell Grant recipients. Students who already have a bachelor's degree are ineligible.

Federal Work-Study Program: This program offers students the opportunity to earn money that may be used to pay tuition and education expenses. Jobs are available both on- and off-campus. On-campus jobs currently pay $8 per hour for undergraduate and $10 per hour for graduate students. Students with special skills (e.g., computer programming) may be paid a higher wage. Work schedules are developed around a student's class schedule and the average work schedule cannot exceed 20 hours per week.

Federal Perkins Loan Program: This is a loan program and funds received under this program MUST be repaid. All students receiving a Federal Perkins Loan must attend a Federal Perkins Pre-loan conference and take and pass the CUNY Default Reduction Test before the first disbursement of the loan proceeds each year. No Federal Perkins Loans will be disbursed to students who do not comply. Students are required to disclose their driver's license number when applying for a Federal Perkins Loan and must provide, in writing, changes of address to the Office of Student Financial Aid within ten days of the change. Federal Perkins Loan borrowers must complete an exit interview upon graduation, or if they cease to be enrolled for at least six credits at the College. Students should be aware that federal regulations require the University to report the disbursement/default of a Federal Perkins Loan to credit bureaus. Deferments and cancellations are available on these loans in certain circumstances and are discussed in detail at the exit interview. If a student defaults on a loan, all College services will be withheld.

Federal Direct Loan: Direct Loan applications are available online at www.csi.cuny.edu/finaid or from the Office of Student Financial Aid. The Office of Student Financial Aid cannot process a Direct Loan application until it receives the applicant's valid FAFSA data from the federal government. Borrowers must sign an electronic-Multi Year Promissory Note (e-MPN) before any loan funds can be disbursed to them or credited to their tuition and fees accounts. The e-MPN can be signed online at www.dlenote.ed.gov.

Note for first-time borrowers: Students who wish to receive a Direct Loan for the first time at the College must complete Entrance Counseling before a loan application can be processed. The Counseling can be completed online at www.dlssonline.com. During the session prospective borrowers are informed about the various types of Direct Loans, and they must pass a test at the end of the session to qualify for a loan. After passing the test, applicants should print the Entrance Counseling page and submit it to the Office of Student Financial Aid together with the Direct Loan application.

Borrowers must complete an Exit Interview upon graduation, or if they cease to be matriculated and enrolled for at least 6 credits at the College. Borrowers must also notify the Office of Student Financial Aid of any change of address.

Federal Subsidized Direct Loans: Subsidized Direct Loan eligibility is based on a borrower's need as calculated by CUNY according to federal rules. A student's need is the difference between the cost of education and the Estimated Family Contribution (EFC) to the student's cost of education as calculated by the federal government from the FAFSA. No interest is charged to the borrower while he or she is enrolled on at least a part-time basis in an approved post-secondary institution.

Federal Un-subsidized Direct Loans: Unsubsidized Direct Loan eligibility is based on the borrower's cost of education during the period covered by the loan. Interest on the loan begins accumulating upon disbursement.

Eligibility Amount – Borrowers are first considered for Subsidized Direct Loans. If a borrower is not eligible for a Subsidized Loan for the full amount requested, he or she is then considered for an Unsubsidized Loan. Below are the limits to the amount of subsidized and unsubsidized loans that can be borrowed in a year:

Federal Direct PLUS Loans: Parents of dependent students can borrow Federal Direct PLUS Loans to pay for their children's education. To apply, the students' parents must complete a separate application available at the Office of Student Financial Aid. Before receiving any loan funds, parents will receive promissory notes that must be completed, endorsed, and returned to the processor. The College will verify that the student for whom the parent is borrowing the money meets all applicable loan requirements. Parents are not required to attend a Pre-loan or exit interview.

Federal Aid to Native Americans: For information regarding this program, interested students should contact the Office of Student Financial Aid.