Financial aid eligibility is need-based. In other words, the main
criteria for determining eligibility is "who needs assistance the most?"
It is the philosophy of need-based student financial aid programs that
the primary basis for a student's educational support is the family. A
combined effort by the parents and the student to meet college expenses
is expected and the total household resources are taken into account,
except in unusual circumstances.
It is when the finances of the family fall short of meeting educational
expenses that the Financial Aid Office plays a role in helping with these
costs. The application used to determine the family's ability to pay and
the amount of assistance the student will need is the Free Application
for Federal Student Aid (FAFSA).
Need is defined by Congress as the difference between what the family can be reasonably expected to contribute toward college costs and the cost of attendance, also referred to as the Student Budget, at the college. The Student Budget includes billed costs, such as tuition, room, board, and fees, as well as out-of-pockets expenses like books, supplies and transportation. If a family can contribute $3,000 to a college with a cost of attendance of $10,000, then the student's need would be $7,000. This need helps determine how much aid a student may receive during a given year.
COST OF ATTENDANCE - FAMILY CONTRIBUTION = FINANCIAL NEED
We have been using the word "family" throughout these pages. This means
YOU, the student as well as the parent(s). In determining need, a
student's prior year income, and assets are documented on financial aid
applications. This means that the student will bear some financial
responsibility for the college cost of attendance.
The College at Oneonta requires the following documents to be filed by all aid applicants:
The Free Application for Federal Student Aid:
The Free Application for Federal Student Aid or FAFSA, is available at
high schools and college financial aid offices. The Processing Service
distributes copies of the document and an analysis of it to all named
institutions and the applicant. Oneonta's FAFSA Title IV Code is 002847.
FAFSA's will be available in December of this year and may be filed any
time after January 1st.
Of course if you have any questions while you are completing your FAFSA,
feel free to call the Oneonta Financial Aid Office and we'll be glad to
help you.
NEW! Now you can apply for federal financial aid with your computer! Use
this link to access FAFSA on the WEB. You'll find plenty of instructions
to help you complete your application.
TAP Applications:
The last page of the FAFSA will contain a link to New York State Higher Education Services Corporation (HESC). When you choose this link most of the Federal data will carry over to your TAP application, while you complete the rest. This is the best way to complete your TAP application. Coming soon, you may also go directly to www.HESC.com.
Verification:
To verify the accuracy of information for selected students, the College may be required by the Department of Education to request supplemental information from an applicant's family. You will receive a request for this information if your application is selected. So, when you send off your FAFSA, keep copies of the tax documents used in a safe place so they will be readily available if we request them.
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