The key to financing a college education successfully is to determine a budget. The student budget is defined as the number of dollars a student needs to attend the City University of New York (CUNY) for one year. It is composed of direct educational expenses (tuition, fees, books) and indirect educational expenses (housing, food, transportation, & some personal expenses). CUNY has established two standard budgets: (l) students living with parents and (2) students living away from parents.
Balanced against the student’s budget is the effective family contribution (EFC). The EFC is calculated by the need analysis system that is established by Congress. The EFC is defined as the number of dollars that the student and his/her family can contribute towards the budget.
To obtain each student’s need, the EFC is subtracted from the budget established for that student. The need establishes the maximum amount of dollars that can be awarded from all financial aid programs.
The most common sources of financial aid for students at Queensborough Community College are:
• FEDERAL PELL GRANT PROGRAM*
• CAMPUS-BASED FEDERAL AID PROGRAMS*
Federal Work-Study
Federal Supplemental Educational Opportunity
Federal Perkins Student Loan
• COLLEGE DISCOVERY PROGRAM*
• DIRECT LOANS (formerly federal family education loans)*
Federal Stafford Loans
Subsidized Stafford Loan
Unsubsidized Stafford Loans
Federal Parent Loan for Undergraduates
Federal Assistance Plans (TITLE IV)
FEDERAL PELL GRANTS
Matriculated students attending or planning to attend college on a one-half (6, 7 or 8 credits plus equated credits), or three-quarter (9, 10, or ll credits plus equated credits) or full-time (12 or more credits plus equated credits) basis may apply for this Federal grant program. Students should use the Free Application for Federal Student Aid (FAFSA). These applications are available in the Financial Aid Office in the early Spring of each year. This application starts with the Fall semester (Fall ‘95), continues into the Spring (Spring ‘96), and ends with the summer (Summer ‘96). The summer PELL is only available if the student has not used all his/her PELL award during the fall and spring semester and attends the summer session.
The student must send the completed FAFSA in the appropriate envelope to the College Scholarship Service (CSS), which will transfer the information to the PELL processor for the determination of the Effective Family Contribution (EFC). In about one month CSS will send to each student a Student Aid Report (SAR), which contains the EFC. The SAR should be brought to Queensborough’s Financial Aid Office immediately in order for the PELL award to be determined. If the SAR is received in the Financial Aid Office before the student’s registration date, tuition and fees will be reduced by the amount of PELL award. If the SAR is received after classes have begun, the student will pay the tuition and fees at the time of registration and will be reimbursed later in the school year.
Eligibility for PELL
Eligibility and award amounts are based on need. The formula used to determine the need is voted upon by Congress each year. Students are notified by the Financial Aid Office about the conditions for receiving PELL payments and how and where these payments can be received. To remain eligible, students must attend classes and continue to make satisfactory academic progress in their chosen program of study. (See additional information about satisfactory progress on pages 23-24.)
Note: A student must have achieved at least a 2.00 GPA after two years of attendance at Queensborough. PELL will only pay for a maximum of thirty (30) equated credits, excluding ESL courses.
FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS (FSEOG)
FSEOG grants are available to exceptionally needy full-time and part-time (at least half-time) students. These grants range from $200 to $2,000 annually. Students apply for this program on the City University Financial Aid Form (CUNY-FAF). Students must maintain satisfactory academic progress as stated under the PELL program.
FEDERAL PERKINS LOAN PROGRAM (FPKL)
Queensborough Community College participates in the Federal Perkins Loan Program. Applicants may borrow up to a maximum of $5,000 during their first two years at Queensborough, provided they remain in good standing. The amount a student may receive is determined by financial need and availability of Federal funds. No interest is charged during the time the borrower is enrolled as a qualified student. Upon termination of study, a period of grace extends for six months before payments begin at 5 percent simple interest for up to a ten-year repayment period. Application is made through the Financial Aid Office by completing The City University Financial Aid Form (CUNY-FAF). To continue their eligibility, students must be enrolled at least half-time and maintain satisfactory academic progress as stated under the PELL program.
FEDERAL WORK-STUDY PROGRAM (FWS)
Queensborough Community College participates in the Federal Work-Study Program. The program enables a qualified student to pursue a degree while holding a part-time job. This employment may be located on or off campus and may take place during the academic year (including vacation periods) and/or during the summer months. Eligibility for this program is based on the financial status of the student and/or his or her family. Recipients are required to maintain satisfactory academic progress as stated under the PELL program. Students must apply on the CUNY-FAF form.
DIRECT LOANS (formerly Federal Family Education Loan Programs)
How to apply:
A student seeking a loan under the DIRECT LOAN program should first obtain a PELL application form (FAFSA) from the College’s Financial Aid Office (Library Building, L-411) and file it as directed (by mail). The student will receive the Student Aid Report (SAR). The student should bring the SAR to the Financial Aid Office and request the loan application from the Financial Aid Office.
FEDERAL STAFFORD LOANS
This program provides low-interest loans totaling up to $23,000 to cover undergraduate work. An eligible Queensborough student who is carrying at least 12 credits and/or equated credits may borrow up to a total of $2,625 for the freshman year and up to a total of $3,500 for the sophomore year. Half-time students carrying at least 6 credits and/or equated credits may borrow up to half. The amount of the loan will be determined by the student’s Effective Family Contribution (EFC). Repayments begin six months after the student graduates or leaves school.
There are two types of Federal Stafford Loans
1. Subsidized Federal Stafford Loan: The interest on this type of loan is paid by the Federal government while the student is attending college. To be eligible for the Subsidized Federal Stafford Loan, the applicant must: (a) be enrolled for at least half-time study at an approved institution; (b) be a United States citizen or a permanent resident alien; (c) demonstrate satisfactory academic progress; (d) have no outstanding debts from previous loans; (e) show financial need; and (f) file a PELL application to determine the Effective Family Contribution (EFC).
2. Unsubsidized Federal Stafford Loan. The interest on this type of loan is paid by the student while he or she is attending school or the interest is added to the loan. To be eligible for the Unsubsidized Federal Stafford Loan, the applicant must: (a) be enrolled for at least half-time study at an approved institution; (b) be a United States citizen or a permanent resident alien; (c) demonstrate satisfactory academic progress; (d) have no outstanding debts from previous loans; and (e) file a PELL application to determine the Effective Family Contribution (EFC).
FEDERAL PARENT LOAN FOR
UNDERGRADUATE STUDENTS (PLUS)
Parents may borrow up to the total cost of education minus other aid for each dependent child.
Satisfactory Academic Standing to
Continue Title IV Awards
In order to be making satisfactory academic progress toward a degree, for the purposes of receipt of Title iv Federal Student Assistance, an undergraduate student must achieve at least the GPA required for probationary status at the institution; after two years of enrollment at the college, at least a "C" average, or its equivalent, or academic standing consistent with the requirements for graduation; and accumulate credits toward degree according to the following standards:
A) Accumulated credits are equal to or greater than two-thirds of the attempted credits at the institution.
B) Attempted credits are not more than 150% of the credits normally required for completion of the degree.
(If the standards in paragraph A and B are not met, eligibility may be retained by meeting conditional standards.)
C) For the associate degree, the conditional standard is: accumulated credits equal to or greater than ([.875 x credits attempted] – 21).
Students will be measured against the satisfactory academic progress standard at the end of the spring term to determine eligibility for receipt of Title IV financial assistance for the upcoming year.
Important Notes
a. The attempted credits usually reflect course loads maintained in a student’s permanent record at the college.
b. The accumulated credits should reflect credits that the student earned toward the completion of the degree program in which the student in enrolled.
c. Enrollment in remedial courses will not be included as attempted credits.
d. Withdrawals which are recorded on a student’s permanent record will be included as attempted credits and will have an effect on the student’s capability to meet the appropriate standard.
A Retroactive "non-punitive" withdrawal may result in the requirement for a student to repay any assistance received as a result of the student’s enrollment at the time of receipt of the student assistance.
e. Courses with incomplete grades are included as attempted credits. However, these courses cannot be used as credits accumulated toward the degree since successful completion is the criterion for positive credit accumulation.
f. Repeated courses. Repeated courses can generally be accepted toward degree requirements once. However, each time a student attempts a course, it is included as part of the attempted credit record. Therefore, repeated courses, regardless of the prior grade, reduce the student’s capacity to meet the appropriate credit accumulation
standard.
g. Appeal procedures. Undergraduate students who fall beneath the conditional undergraduate standard may appeal through the
normal institutional academic appeals processes. These appeals should be evaluated for mitigating circumstances resulting from events such as personal illness, injury, personal tragedy, changes in academic program, and the reasonableness of the student’s capability for improvement to meet the appropriate standard for the degree program in which the student is enrolled. A successful appeal would result in the granting of a one year probation period for the student to improve the academic record to meet the appropriate standard for the degree program in which the student is enrolled. There is no limit on the number of times a student may follow this appeals
procedure.
h. Non-standard admissions situation.
1. Readmitted students. Upon readmission after a one year period of non-re-enrollment, the student will receive assistance for the terms in the academic year of readmission and will be evaluated for future eligibility at the end of the spring term against the appropriate standard for the degree program in which the student is enrolled. If a student is readmitted after less than one year of non-enrollment, the academic record will be evaluated for satisfactory academic progress under these standards as the record stood at the end of the last term of attendance.
2. Transfer students. Transfer students, from colleges inside and outside CUNY, shall have their status initialized for purposes of satisfactory academic progress measurement by using the number of credits determined to be acceptable toward the degree as both the students’ cumulative attempted credits and cumulative earned
credits.
3. Second degree students. Students enrolling for a second degree shall have their status initialized for purposes of satisfactory academic progress measurement by using the number of credits determined to be acceptable toward the degree as both the students’ cumulative attempted credits and cumulative earned credits.
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