GENERAL INFORMATION
Daemen College offers students many types of financial assistance in the form of scholarships, grants, and loans. The College can help any qualified student who needs financial aid. Daemen College participates in the federal Title IV programs and complies with the regulatory requirements as mandated by the Higher Education Amendments of 1992. The following is a breakdown of the types of assistance and the means by which a student may apply. It is important to note that students interested in Daemen College should not hesitate because of financial circumstances. DAEMEN COLLEGE IS AFFORDABLE.
Students applying for financial aid must submit the following forms that are used to establish eligibility and financial need.
1. Free Application for Federal Student Aid (FAFSA)
This is available from the Daemen Financial Aid Office, or any high school guidance office. Students are also able to apply over the internet at www.fafsa.ed.gov. After completing the FAFSA, the student returns it directly to the U.S. Department of Education in the envelope provided, designating Daemen College as a recipient. The Daemen College title IV institution code number is 002808.
2. Tuition Assistance Program (TAP) Application
For New York State residents only, the student completes the FAFSA releasing the information to New York State and indicating Daemen College. NYSHESC receives the FAFSA data and sends a preprinted Express TAP Application (ETA) application to the student. The student must review, add and change any information only as needed. All students (spouse/parents) must sign and return the TAP application in the envelope provided to NYSHESC. Students are also able to apply over the internet at www.tapweb.org.
3. Verification of Income
All students who receive federal, state, or institutional aid and have been selected for verification must submit to the Financial Aid Office verification of their family income. This may be a signed IRS Form 1040; or a letter from Social Security, Social Services, or Veterans Administration offices. Students who receive a request for additional information should respond promptly as it is the policy of the Financial Aid Office not to disburse aid until the student's FAFSA has been verified.
When to Apply for Financial Aid
The Free Application For Federal Student Aid (FAFSA) and Express TAP Application should be submitted as soon as possible after January 1st.
Suggested filing deadlines for:
Fall Semester February 15
Spring Semester November 1
Allow at least six weeks for processing the application.
TO BE CONSIDERED FOR FINANCIAL AID, STUDENTS MUST RE-APPLY EACH YEAR AND CONTINUE TO SHOW FINANCIAL NEED AND SATISFACTORY ACADEMIC PROGRESS.
Notification of Financial Aid Awards
After the student has been accepted for admission, and the Free Application for Federal Student Aid (FAFSA) is reviewed, notifications of award packages will be sent to students who qualify. They are asked to accept or decline the award within two weeks of notification.
Eligibility for Financial Aid
Financial aid exists because most qualified students need help to pay for a college education. In general, financial aid eligibility is based on academic qualifications, specific program requirements, financial need, and academic progress or standing. All applicants must meet entrance requirements for admission to the college. Some competitive or merit scholarships are awarded for examination scores, grade averages, or class standing. Specific eligibility requirements for many financial aid programs are described in the pages that follow. The most important criterion by far, however, is financial need. Once awarded, continuation of financial aid depends upon maintaining satisfactory academic progress.
Otherwise, once the basic eligibility requirements are met, financial aid is awarded on a “first-come, first-served” basis. Except for certain designated equal opportunity and affirmative action programs, financial aid awards are not affected by race, color, creed, sex, or sexual orientation.
Financial Aid for Combined Undergraduate/Graduate Degree Programs
A student's eligibility for financial aid and type of aid is determined in accordance with the student's classification as an undergraduate or graduate student. Students in combined degree programs (e.g., Physical Therapy, Physician Assistant Studies, Professional Accountancy) will be classified as follows. Students who do not possess a previous baccalaureate degree are classified as undergraduates for their first four years of study, and graduate students in subsequent years. Students possessing a baccalaureate degree will be classified as graduate students regardless of enrollment in any undergraduate-level coursework in pursuit of their Daemen graduate degree.
Undergraduate students who receive institutional based merit scholarships will continue to remain eligible for these scholarships for their entire curriculum.
Financial Need Assessment
The vast majority of all financial aid programs from all sources are based on financial need. The amount of aid a student receives is determined by the student's budget for anticipated expenses minus the expected contribution from the student or his/her family.
Student's Budget
( determined by Financial Aid Office)
— Expected Family Contribution
( determined by FAFSA data)
__________________________________________________________
= Financial Need
Expenses Used in Determining the Student's Budget
For a full-time student at Daemen College, the costs of attendance are estimated as follows:
Commuter Resident
Tuition 18,300 18,300
Fees 450 450
Books & Supplies *800 *800
Room & Board *2,000 8,610
Personal Expenses *800 *800
Transportation *700 *700
* These figures represent average costs and will vary from person to person depending upon individual needs. All costs are subject to change.
Student/Family Contributions
The Financial Aid Office uses income and net worth to estimate how much students or families can afford to pay toward a college education. The financial contribution that is to be made by a student or his/her family is determined by applying conventional estimating formulas that take into account their financial situation according to their FAFSA data and whether a student is independent or dependent. Definitions of these terms used for federal financial aid programs follow directly below. New York State financial aid programs use their own somewhat different and more detailed definitions. Daemen College's Financial Aid Office can clarify these definitions and eligibility requirements.
Independent Students
An independent student is an individual who meets one of the following criteria:
1. An individual at least 24 years old by December 31 of the award year.
2. Both parents are deceased, or individual is a ward/dependent of the court.
3. A veteran of the Armed Forces of the United States.
4. An individual with legal dependents other than a spouse.
5. A graduate or professional student.
6. A married person.
Dependent Students
A dependent student is an individual who does not meet the definition of an independent student.
Satisfactory Academic Progress
For continuation or renewal beyond the initial term of eligibility, most financial aid programs demand satisfactory academic progress. Academic progress is defined by credit hours earned toward a degree, as well as GPA. Colleges establish standards for measuring academic progress. The table that follows illustrates Daemen College's standards of satisfactory academic progress for determining eligibility for student aid. The Financial Aid Office and the Registrar monitor student academic progress for financial aid purposes. Refer to the Financial Aid Office for a more detailed explanation and interpretation of the following chart. Please note that minimum standards of satisfactory academic progress for continuing financial aid eligibility are not necessarily identical to minimum requirements for good academic standing - which requires minimum GPA's of 2.0, semester and cumulative. (See p. 33 for further information on academic probation, suspension, and dismissal.)
Right To Appeal
In the event a student is denied financial aid due to failure to maintain satisfactory academic progress, the student has the right to appeal by providing a personal statement together with any relevant documentation supporting the student's appeal. The Financial Aid Office will provide full information and counseling to students wishing to appeal to request reinstatement of aid.
DESCRIPTION OF FINANCIAL AID PROGRAMS
A. Institutional Aid (Financial Aid awarded by the Daemen College Financial Aid Office) FEDERAL PROGRAMS
Federal Supplemental Educational Opportunity Grant (FSEOG)
Application Procedures:
The applicant must complete the Free Application for Federal Student Aid (FAFSA).
Selection of Recipients and Allocation of Awards:
The recipient must:
1. be a matriculated student and a U.S. citizen or permanent resident;
2. show exceptional financial need;
3. be making satisfactory academic progress. Awards are made on a first-come, first- served basis;
4. not be in default on a previous loan or owe a refund on a previous grant.
Award Schedule:
The award ranges from $100 - $4000 per year.
Rights and Responsibilities of Recipients:
The student must continue to make satisfactory academic progress.
Method and Frequency of Disbursements:
Federal SEOG Grants (FSEOG) are credited directly to a student's bill after enrollment and financial aid data has been verified by the Financial Aid Office each semester.
STANDARDS OF SATISFACTORY ACADEMIC PROGRESS FOR
DETERMINING ELIGIBILITY FOR STUDENT AID
Calendar: Semester Degree Program: Baccalaureate
Before being certified for this payment: 1 st 2 nd 3 rd 4 th 5 th 6 th 7 th 8 th 9 th 10 th
A student must have accrued this
many credits. 0 6 12 21 33 45 60 75 90 105
With at least this grade point average: 0 1.1 1.2 1.5 2.0 2.0 2.0 2.0 2.0 2.0
Completing at least this many credits
for this semester. 6 6 9 9 12 12 12 12 12 12
Federal Work-Study Program (FWS)
Application Procedures:
The applicant must complete the Free Application For Federal Student Aid (FAFSA).
Selection of Recipients and Allocation of Awards:
The applicant must:
1. be a matriculated student and a U.S. citizen or permanent resident;
2. show financial need;
3. be making satisfactory academic progress. Students are awarded FWS on a first-come, first-served basis.
4. not be in default on a previous loan or owe a refund on a previous grant.
Award Schedule:
Daemen College arranges jobs on campus for up to 10 hours per week. Factors considered by the Financial Aid Office in determining whether, and how many hours, the applicant may work under this program are financial need, class schedule, and academic progress. Students are paid the minimum hourly wage. An award of FWS does not guarantee job placement.
Rights and Responsibilities of Recipients:
Satisfactory academic progress must be maintained. For further information, please see the college work-study list of regulations and procedures available from the Daemen College Financial Aid Office.
Method and Frequency of Disbursements:
Federal Work Study Program (FWS) wages are paid to students with bi-weekly payroll checks issued in the Office of Student Accounts.
Federal Perkins Loans
Application Procedures:
The applicant must complete the Free Application For Federal Student Aid (FAFSA).
Selection of Recipients and Allocation of Awards:
The applicant must:
1. be a citizen or permanent resident;
2. show financial need;
3. not be in default on a previous loan or owe a refund on a previous grant. Loans are available on a first-come, first-served basis.
Awards Schedule:
Annual amounts which may be awarded are: $4,000 to students who have not successfully completed an undergraduate program; $6,000 for a graduate or professional student. Aggregate loan limits are: $20,000 for undergraduate students; $40,000 for graduate or professional students (including any previous Perkins program loans).
Rights and Responsibilities of Recipients:
The current interest rate payable during the repayment period is 5 percent on the unpaid principal on all loans. Repayment begins nine months after the student ceases to carry one-half the normal full-time academic work load, and ends ten years and nine months after such date. Specialized information on loan cancellation provisions and deferment is available from the Office of Student Accounts.
Method and Frequency of Disbursements:
Federal Perkins Loans are credited directly to a student's bill after enrollment and financial aid data have been verified by the Financial Aid Office and the student completes the Federal Perkins Loan Promissory Note through the internet at www.signmyloan.com.
RETURN OF TITLE IV FUNDS DUE TO WITHDRAWAL FROM SCHOOL
In accordance with the Higher Education Amendments of 1998, Public Law 105-244, the amount of Title IV Program Funds earned is based on the amount of time spent in academic attendance for each enrollment period. Up through the 60% point in each enrollment period, a prorate schedule is used to determine the amount of Title IV funds the student has earned at the time of withdrawal. After the 60% point in the period of enrollment, a student has earned 100% of Title IV funds. Earned Title IV funds are distributed in the following order: Pell Grant, FSEOG, Subsidized Stafford Loan, Unsubsidized Stafford Loan, Perkins Loan and PLUS Loan.
NEW YORK STATE PROGRAMS
Arthur O. Eve Higher Education Opportunity Program (HEOP)
Application Procedure:
Students must complete the Free Application For Federal Student Aid (FAFSA).
Selection of Recipients and Allocation of Awards:
Applicants must be:
1. New York State residents;
2. matriculated undergraduate students at an independent college or university in New York State, and
3. academically and economically disadvantaged according to guidelines approved by the Board of Regents and the Director of the Budget. Selection of eligible applicants for participation in HEOP is made by the HEOP Director at Daemen in conjunction with the Financial Aid Office.
Award Schedule:
The amount of financial assistance and other support provided to HEOP participants is dependent on need as determined by the institution and the program, within the state guidelines. Awards are disbursed each semester and credited to the student's account.
DAEMEN COLLEGE PROGRAMS
Students must complete the Free Application for Federal Student Aid (FAFSA) for all Daemen College financial aid programs.
President's, Dean's and Trustee Scholarships
Daemen College offers scholarships to eligible freshman and transfer students based on academic merit. These scholarships are renewable for each year of full-time enrollment as long as a 3.00 Daemen College grade point average is maintained.
Alumni Grants
The College offers grants to freshman and transfer students based upon their academic credentials. These grants are renewable for each year of full-time enrollment as long as a 2.00 Daemen College grade point average is maintained.
Daemen Scholarship for Academic Excellence
The College offers a limited number of scholarships to graduate students based on academic excellence.
Athletic Scholarships
A limited number of partial basketball, volleyball, soccer, cross country and golf scholarships are awarded to students who must be fully matriculated, meet all player-eligibility criteria set forth by Daemen College and the National Association of Intercollegiate Athletics, and be recommended by Daemen College's Coaching Staff and Athletic Director.
Daemen College Grants
This grant is awarded to students based upon demonstrated financial need. The dollar amount will vary. A Daemen College grant may be renewed or continued only if a student maintains satisfactory academic progress and demonstrates financial need.
Daemen College Work Program
Funded by Daemen College, this award is designed to help students meet their college costs. The Financial Aid Office arranges jobs on campus. The hours worked per week will vary. Students are paid minimum wage.
Parents' Student Loan
This loan is made to the parents of the student and carries an interest rate of 9%. Repayment begins 3 months after graduation. Borrowers will have 10 years to repay the loan.
Visual Arts Scholar Awards
$5,000 renewable scholarship. Eligibility is based on high school academic average and evaluation of art portfolio.
B. Non-Institutional Aid (Financial Aid Awarded Through Outside Agencies)
FEDERAL PROGRAMS
Pell Grant
Application Procedures:
Students may apply by filing a Free Application for Federal Student Aid (FAFSA). The applicant must be an undergraduate student and must need financial assistance to continue his/her education.
Selection of Recipients and Allocation of Awards:
The Pell Grant is an entitlement program with neither a qualifying examination nor a limited number of awards. The student eligibility index for financial aid is calculated by a formula developed by the Office of Education and reviewed annually by Congress. A calculated student aid report will be sent to the applicant. Based on this, the amount of the applicant's award is determined by the Financial Aid Office.
Award Schedule:
Awards range from $400 to $4,310 but not more than one-half the total cost of attendance. The amount of the award will be affected by costs and full or part-time enrollment status. Awards may be used for tuition, fees, books, and living expenses. The Pell award does not duplicate state awards.
Rights and Responsibilities of Recipients:
The student must continue to make satisfactory academic progress in the program in which he/she is enrolled. The student must not owe any refunds on a Pell Grant or other awards paid, or be in default on repayment of any student loan. Before receiving payment, the student must sign an affidavit of educational purpose, and an affidavit of selective service compliance.
Method and Frequency of Disbursements:
Federal Pell Grants are credited directly to a student's bill after enrollment and financial aid data have been verified by the Financial Aid Office each semester.
Academic Competitiveness Grant (ACG)
Application Procedures:
Students may apply by filing a Free Application for Federal Student Aid (FAFSA).
Selection of Recipients and Allocation of Awards:
The applicant must:
1. be eligible for the federal Pell Grant;
2. be a U.S. citizen;
3. be a full-time student;
4. have completed a rigorous secondary school program of study as established by state or local educational agency and recognized by the U.S. Secretary of Education.
Award Schedule:
Awards up to $750 will be made to eligible first year students, and up to $1,300 for second year students.
Rights and Responsibilities of Recipients:
Students must continue to make satisfactory academic progress and must have at least a cumulative 3.0 grade point average during their first year of college.
Method and Frequency of Disbursements:
Federal ACG Grants are credited directly to a student's bill after enrollment and financial aid data have been verified by the Financial Aid Office each semester.
National Science and Mathematics Access to Retain Talent (SMART) Grant
Application Procedure:
Students may apply by filing a Free Application for Federal Student Aid (FAFSA).
Selection of Recipients and Allocation of Awards:
The applicant must be:
1. eligible for the federal Pell Grant;
2. a U.S. citizen;
3. enrolled in a four year degree granting institution of higher education;
4. pursuing a major in mathematics, science (including physical, life, and computer
sciences ), technology, engineering, or critical foreign language.
Award Schedule:
Awards up to $4,000 will be made to eligible students in their third and fourth year of college.
Rights and Responsibilities of Recipients:
Students must continue to make academic progress and must have at least a cumulative 3.0 grade point average.
Method and Frequency of Disbursements:
Federal SMART Grants are credited directly to a student's bill after enrollment and financial aid data have been verified by the Financial Aid Office each semester.
Reserve Officers' Training Corps (ROTC)
ROTC courses may be taken at Canisius College as part of the cross-registration agreement Daemen College has with the Western New York Consortium of Colleges. For further information, see the “Military Science” section of the catalog.
Reserve Officers' Training Corps (ROTC) scholarships pay all tuition, college fees, and a flat rate for books and academic supplies, plus a subsistence allowance. Three and two-year scholarships are available to qualified college students. No previous military or ROTC experience is necessary. An alternative to the scholarship program permits students to earn full pay and allowances for weekend service with the U.S. Army Reserve or the New York National Guard while enrolled as Army ROTC College students. For more information contact Daemen's Financial Aid Office at 839-8254
Veterans Administration (VA) Educational Benefits
Application Procedures:
Contact any Department of Veterans Affairs Office for information and applications, or visit www.gibill.va.gov.
Bureau of Indian Affairs Aid to Native Americans Higher Education Assistance Program
Application Procedures:
Application forms may be obtained from the Bureau of Indian Affairs Office. An application and an official needs analysis from the college are required each year of study. Each first-time applicant must obtain tribal enrollment certification from the Bureau agency or tribal office which records enrollment for the tribe.
Selection of Recipients and Allocation of Awards:
The applicant must:
1. be at least one-fourth American Indian, Eskimo or Aleut;
2. be an enrolled member of a tribe, band, or group recognized by the Bureau of
Indian Affairs;
3. be enrolled in or accepted for enrollment in an approved college or university, pursuing at least a four-year degree; and
4. have financial need. Depending on availability of funds, grants may also be made to graduate students and summer session students. Eligible married students may also receive living expenses for dependents.
Rights and Responsibilities of Recipients:
For grants to be awarded in successive years, the student must make satisfactory progress toward a degree, and show financial need.
NEW YORK STATE PROGRAMS
Note: New York State financial aid programs are subject to change each state budget year.
Tuition Assistance Program (TAP)
Application Procedures:
New York State residents may apply for
TAP by completing the FAFSA, releasing the information to New York State and indicating at least one New York state school on the form. NYSHESC receives the FAFSA data and sends a preprinted Express Tuition Assistance Program Application (ETA) to the student's address. The student must review, add and change the information only as needed. All students (spouse/parents) must sign and return the Express Tuition Assistance Program Application (ETA) in the envelope provided. Students are also able to apply over the internet at www.tapweb.org.
Selection of Recipients and Allocation of Awards:
TAP is an entitlement program, with neither a qualifying examination nor a limited number of awards. The applicant must:
1. be a New York State resident and a U.S. citizen or permanent resident alien;
2. be enrolled full-time and matriculated at an approved New York State post-secondary institution. (To be considered matriculated, students are required to declare a major by the beginning of their junior year if enrolled in a baccalaureate program);
3. have , if dependent, a family net taxable income of $80,000 or less, or if independent and single with no tax dependents, a net taxable income of $10,000 or less. Independent and dependent are defined differently for New York State TAP awards than they are for other forms of financial aid. See the Financial Aid Office for details. The Higher Education Services Corporation determines the applicant's eligibility and mails an award certificate directly to the applicant, indicating the amount of the grant. The applicant presents the institutional copy of the certificate when paying tuition.
Award Schedule:
The amount of the TAP award is scaled according to level of study, tuition charge, and net taxable income. Maximum award is $5,000 per year. Undergraduate students may generally receive TAP awards for four years of study. Students enrolled in a state-sponsored opportunity program may receive undergraduate awards for five years.
Rights and Responsibilities of Recipients:
Students who receive TAP funding must maintain satisfactory academic progress in order to be certified as TAP eligible for subsequent semesters (see Standards of Satisfactory Academic Progress chart, page 14). Students who have reapplied and been readmitted to Daemen College after attending another institution will have those transferred grades calculated into the GPA for financial aid eligibility purposes only. (Transfer students will be assumed to have a 2.0 GPA for their first semester at Daemen College).
Students may not combine undergraduate and graduate credit for TAP course load or course completion requirements. An undergraduate student eligible to take a graduate course must do so in addition to a minimum of 12 undergraduate credits for TAP purposes.
Students who do not maintain the minimum standards of academic progress may be eligible for a one-time waiver which would allow the student to receive financial aid for the next semester.
This waiver is not automatic, will only be granted in exceptional cases, and must not provide for an additional term of eligibility.
Students lacking a C average who have already received a one-time waiver may be eligible for a C average waiver. A C average waiver is separate from the one-time waiver and may be granted more than once if
circumstances warrant.
Application for a waiver may be initiated through the Financial Aid Office.
The final decision to approve or not approve the waiver rests with the Committee on Academic Standards.
Institutional Procedure:
1. Students will be notified if they have been decertified, and they will be informed of the waiver option and procedures which follow:
a. Waiver application forms are issued from the Financial Aid Office.
b. Applications will be considered only for extraordinary cases such as personal or family medical problems or severe personal problems.
c. It is the student's responsibility to submit the completed waiver application form to the Financial Aid Office by the due date.
A statement from the student explaining the reason for failure to make academic progress and outlining the plan of action to rectify the problem should be attached to the form. Written verification of the reason for the request (e.g., doctor's letter) as well as a letter from a Daemen employee (such as a professor, academic advisor, head of an academic program) who can make a professional judgment attesting to the student's capacity to successfully complete future coursework must also be attached to the form. Any other written documentation which would strengthen the student's request, should also be submitted by the student. All written documentation must be postmarked no later than the due date cited on the waiver appeals form.
2. The Committee on Academic Standards will review all completed waiver application forms and notify the Financial Aid Office and Registrar's Office of all waivers granted. The Committee's decision on the waiver request is final.
3. Written records of the findings and determination of each case will be maintained in the Office of the Associate Dean of the College.
Supplemental Tuition Assistance Program (STAP)
The Supplemental Tuition Assistance Program (STAP) is available only for students enrolled in an approved non-credit bearing remediation program in a summer term immediately preceding and/or immediately following the initial year of matriculated study. Students enrolled in the Arthur O. Eve Higher Education Opportunity Program (HEOP) are not eligible for the STAP program. Students eligible for a STAP award are eligible for up to one-quarter of what the student would receive as an annual TAP award. For less than full-time study, but at least half-time study, a student would be eligible for one-eighth of an annual TAP award. Students may receive up to two such awards; one preceding and one immediately following the first year of matriculated study.
Aid for Part-Time Study (APTS)
Application Procedure:
Part-time students seeking financial aid must complete the APTS application, which is available at the Financial Aid Office. Applications must be submitted to the Financial Aid Office within 30 days from the first day of class. A copy of the New York State tax return must accompany the application. Completed applications will be processed at the Daemen College Financial Aid Office.
Selection of Recipients and Allocation of Awards:
This form of financial aid is expressly intended for part-time students. To be eligible for APTS, a student must:
1. be enrolled for 3-11 credit hours;
2. be a New York State resident, and a U.S. citizen or permanent resident;
3. have a net taxable personal income not exceeding $34,250 (if independent), or a net taxable family income not exceeding $50,550 (if dependent); and
4. Each participating college determines the eligibility and financial need of its own part-time students.
Award Schedule:
APTS awards are based on financial need and the discretion of the college. Cumulative APTS funding may not exceed the student's New York State TAP eligibility.
Rights and Responsibilities of Recipients:
Students must maintain satisfactory academic progress. Recipients must reapply for each academic term they want APTS assistance. Satisfactory academic progress and dependent or independent financial status are defined as they are for New York State TAP grants.
Regents Award for Children of Deceased or Disabled Veterans
Application Procedures:
A special application, obtainable from the high school guidance counselor or principal, must be filed with the New York State Higher Education Services Corporation (HESC), Tower Building, Empire State Plaza, Albany , NY 12255. Documentary evidence to establish eligibility is required with the application.
Selection of Recipients and Allocation of Awards:
The applicant must be:
1. the child of a veteran who died, or who acquired a disability of 40 percent or more in U.S. military service during one of the following periods:
Dec. 7, 1941 — Dec. 31, 1946
June 7, 1950 — Jan. 31, 1955
Dec. 22, 1961 — May 7, 1975
June 1, 1983 — Dec. 1, 1987
Dec. 20, 1989 — Jan. 31, 1990;
2. a legal resident of New York State. Legal residence in New York State on the part of the parent at the time of entry into military service or (if the parent died as the result of military service) at the time of death is also required. Regents awards to children of deceased or disabled veterans are independent of family income or tuition charge, and are in addition to such other grants or awards to which the applicant may be entitled.
Award Schedule:
The amount of the award is $450 per year, for up to five years of full time study.
Memorial Scholarship for Families of Deceased Firefighters, Volunteer Firefighters, Police Officers, Peace Officers and Emergency Medical Service Workers
Who is Eligible:
Must be a child or spouse of a deceased firefighter, volunteer firefighter, or emergency medical service worker, police officer, peace officer, who died as a result of injuries sustained in the line of duty.
Application Procedures:
A special application form may be obtained from the New York State Higher Education Services Corporation, Albany, NY 12255.
Award Schedule:
The amount of the award will equal the applicant's actual tuition cost or the State University of New York undergraduate tuition, whichever is less.
Regents Professional Opportunity Scholarships
Application Procedures:
Application forms and information bulletins may be obtained from the State and Federal Scholarship and Fellowship Unit, State Education Department, Albany, NY 12230.
Award Schedule:
Up to $5,000 per year for up to 4 or 5 years in certain programs. For more information contact Daemen's Financial Aid Office.
New York State World Trade Center Memorial Scholarships
Who is Eligible:
Children, spouses and financial dependents of deceased or severely and permanently disabled victims of Sept. 11, 2001 terrorist attacks on the United States or the subsequent rescue and recovery operations. This includes victims at the World Trade Center, Pentagon, or Flights 11, 77, 93, or 175.
Application Procedures:
A special application form may be obtained from the New York State Higher Education Services Corporation, Albany, NY 12255.
Award Schedule:
At a private institution an amount equal to SUNY four-year college tuition and average mandatory educational fees including allowances for room and board, books, supplies, and transportation.
State Aid to Native Americans
Application Procedures:
Application forms may be obtained from the Native American Education Unit, New York State Education Department, Albany , NY 12234. The completed application form should be forwarded by the applicant to the Native American Education Unit along with the following materials:
1. official transcript of high school record or photostat of general equivalency diploma;
2. letters of recommendation from one or more community leaders attesting to personality and character;
3. a personal letter, setting forth clearly and in detail educational plans and desires;
4. signatures of the parents of minor applicants, approving education plans; and
5. an official tribal certification form.
Selection of Recipients and Allocation of Awards:
The applicant must be:
1. a member of one of the Native American tribes located on reservations within New York State;
2. have graduated from an approved high school, have earned a general equivalency diploma, or be enrolled in a program in an approved postsecondary institution; and
3. planning to attend an approved post-secondary institution in New York State.
State Aid to Native Americans is an entitlement program. There is neither a qualifying examination nor a limited number of awards.
Award Schedule:
The award is $1000 per year for a maximum of four years of full-time study, at a minimum of 12 credit hours per semester. Students registered for less than full time study will be funded at approximately $85 per credit hour.
Rights and Responsibilities of Recipients:
Students are responsible for notifying the Native American Education Unit in writing of any change in student status or program.
New York State Higher Education Services Corporation Federal Stafford Loan - Subsidized
Application Procedures:
All loans signed after October 17, 1986 are based on need after family contribution is established; therefore, students must complete the Free Application for Federal Student Aid (FAFSA). To apply for a Subsidized Stafford loan, a student must have a Master Promissory Note (MPN) on file with a participating lender. To obtain an MPN, a student must first receive his or her financial aid award notice which will notify the student of his or her Subsidized Stafford loan eligibility. The Financial Aid office will certify the Stafford Loan for the amount indicated on the award notice, unless the student declines or modifies the loan amount. After the Financial Aid office certifies the loan, an MPN will be mailed to the student by New York State Higher Education Services Corporation (NYSHESC). The student reviews and updates the information, completes any blank items, selects a lender, and returns the Master Promissory Note to NYSHESC in the envelope provided to continue the processing of the loan. Master Promissory Notes can also be completed through the internet at www.hesc.com.
A Master Promissory Note is completed once by the student and is used to borrow additional loans for subsequent periods of enrollment.
The MPN is good up to ten years from the date of the student's signature. Each academic year the student will be notified of his/her loan eligibility on the financial aid award notice. The student's loan will be certified for the amount listed on the award notice, unless the student indicates otherwise by signing and returning the award letter.
Transfer students who have not borrowed with New York State Higher Education Service Corporation should contact the Financial Aid Office for application procedures.
Selection of Recipients and Allocation of Awards:
To be eligible for a Subsidized Federal Stafford Loan a student must be:
1. a U.S. citizen or permanent resident alien;
2. enrolled in or accepted for enrollment in a degree or certificate program; and
3. have demonstrated need according to a Need Analysis System.
4. Study at least half-time.
Loan Schedule:
A student who is enrolled on at least a half-time basis at a participating school is eligible for the following loan amounts:
1. $3,500 - students who have not completed their first year of an undergraduate program.
2. $4,500 - students who have completed their first year of an undergraduate program.
3. $5,500 - students who have completed their first and second years of an undergraduate program.
4. $23,000 - aggregate maximum amount for undergraduate study.
5. $8,500 - graduate year maximum eligibility.
Effective for loans disbursed on or after July 1, 2006, the interest rate is fixed at 6.8%. Effective July 1, 2007, all loans approved for academic periods beginning on or after July 1 will be charged a 1.5% origination fee.
Rights and Responsibilities of Recipients:
It is the borrower's responsibility to maintain contact with the lender. Repayment of the principal begins six months after the borrower ceases to be at least a half-time student. Repayment in whole or in part may be made at any time without penalty. All borrowers must complete an exit interview upon graduation or withdrawal from the college. Contact the Financial Aid office about meeting this requirement.
Methods and Frequency of Disbursements:
First-time borrowers must complete an entrance interview before loan funds can be disbursed. The Financial Aid Office conducts group entrance interviews prior to the start of the academic year, through internet access and on a one-on-one basis by appointment.
Federal Family Education Loan proceeds are credited to a student's bill after the loan check has been received by the Office of Student Accounts and endorsed by the student. Daemen College also participates in Electronic Funds Transfer (EFT) in the delivery of student loan proceeds.
Federal Stafford Loan - Unsubsidized
Application Procedures:
This loan program is available to eligible students, regardless of family income, for periods of enrollment beginning on or after October 10, 1992. The term unsubsidized means that interest is not paid for the student during periods of enrollment. To apply, students must complete the FAFSA, receive a financial aid award notice, and have a Master Promissory Note on file with a participating lender. See application procedure for Federal Stafford loan – Subsidized.
Selection of Recipients and Allocation of Awards:
To be eligible for an Unsubsidized Federal Stafford Loan a student must be:
1. a U.S. citizen or permanent resident alien;
2. enrolled in or accepted for enrollment in a degree or certificate program; and
3. Study at least half-time.
Loan Schedule:
1. $3,500 - students who have not completed their first year of an undergraduate program.
2. $4,500 - students who have completed their first year of an undergraduate program.
3. $5,500 - students who have completed their first and second years of an undergraduate program.
4. $23,000 - aggregate maximum amount for undergraduate study.
5. $8,500 - graduate year maximum eligibility.
The combination of subsidized and unsubsidized Federal Stafford Loans for a borrower may not exceed the annual and aggregate limits.
Rights and Responsibilities of Recipients:
It is the borrower's responsibility to maintain contact with the lender. Principal payments are automatically deferred while the student is enrolled at least half-time. Interest accrues and must be paid quarterly. If a student does not wish to make these interest payments while enrolled, he/she may request that the lender add the interest to the principal amount. Repayment of both interest and principal begins six months after the borrower ceases to be enrolled on at least a half-time basis. All borrowers must complete an exit interview upon graduation or withdrawal from the college. Contact the Financial Aid office about meeting this requirement.
Method and Frequency of Disbursements:
First-time borrowers must complete an entrance interview before loan funds can be disbursed. The Financial Aid Office conducts group entrance interviews prior to the start of the academic year, through internet access and on a one-on-one basis by appointment. Federal Family Education Loan proceeds are credited to a student's bill after the loan check has been received by the Office of Student Accounts and endorsed by the student. Daemen College also participates in Electronic Funds Transfer (EFT) in the
delivery of student loan proceeds.
Unsubsidized Federal Stafford Loan for Independent Students
Application Procedures:
Students must file a FAFSA, receive a financial aid award notice, and have a Master Promissory Note on file with a participating lender. See application procedure for Federal Stafford Loan - Subsidized.
Selection of Recipients and Allocation of Awards:
To be eligible a student must be:
1. a graduate or independent undergraduate;
2. a U.S. citizen or permanent resident alien;
3. accepted or enrolled in a degree or certificate program; and
4. study at least half-time.
Loan Schedule:
1. $4,000 - during the first or second year of study.
2. $5,000 - after completion of second year of undergraduate program.
3. $12,000 - for graduate and professional students.
4. $23,000 - aggregate amount for undergraduate study.
Effective for loans disbursed on or after July 1, 2006, the interest rate is fixed at 6.8%. Effective July 1, 2007 all loans approved for academic periods beginning on or after July 1 will be charged a 1.5% origination fee. These fees are charged and deducted from the approved loan amount.
Rights and Responsibilities of Borrowers:
It is the borrower's responsibility to maintain contact with the lender. Repayment begins on the day of the last disbursement unless the student requests an in-school deferment on the loan application. Interest payments can be made quarterly, or they may be capitalized (added to the principal). All borrowers must complete an exit interview upon graduation or withdrawal from the college. Contact the Financial Aid Office about meeting this requirement.
Method and Frequency of Disbursements:
First-time borrowers must complete an entrance interview before loan funds can be disbursed. The Financial Aid Office conducts group entrance interviews prior to the start of the academic year, through internet access and on a one-on-one basis by appointment. Federal Family Education Loan proceeds are credited to a student's bill after the loan check has been received by the Office of Student Accounts and endorsed by the student. Daemen College also participates in Electronic Funds Transfer (EFT) in the delivery of student loan proceeds.
Parent Loans for Undergraduate Students (PLUS)
Application Procedures:
Parents are able to apply for PLUS loans through participating lending institutions. Upon approval of the PLUS loan application the Daemen Financial Aid Office will certify the loan. Borrowers must sign and return their Master Promissory Note to the Daemen Financial Aid Office or to New York State Higher Education Services Corporation (NYSHESC) prior to disbursement.
Loan Schedule:
Parents, stepparents or legal guardians who do not have an adverse credit history may borrow up to the cost of attendance minus any estimated financial assistance the student has been or will be awarded during the period of enrollment. Effective for loans disbursed on or after July 1, 2006, the interest rate is fixed at 8.5%. Effective July 1, 1999 all loans approved for academic periods beginning on or after July 1 will be charged a 3% origination fee. These fees are charged and deducted from the approved loan amount.
Rights and Responsibilities of Recipients:
Additional requests for loans must be made at the original lending institution. The re-payment period begins on the day the loan is disbursed and interest starts to accrue on that date. The first payment is due within 60 days from the date of disbursement. The maximum repayment period will be 10 years from the date of the promissory note. The minimum repayment period is normally five years, but shorter repayment periods can be arranged.
Method and Frequency of Disbursements:
Parent Loans for Undergraduate Students (PLUS) are credited to a student's bill after the loan check has been endorsed by the parent to whom the check is payable and returned to the Office of Student Accounts. Daemen College also participates in Electronic Funds Transfer (EFT) in the delivery of PLUS loan proceeds.
Graduate (PLUS) Loan
Application Procedures:
Graduate students are able to apply for PLUS loans through participating lending institutions. Upon approval of the PLUS loan application, the Daemen Financial Aid Office will certify the loan. Borrowers must sign and return their Master Promissory Note to the Daemen Financial Aid Office or to New York State Higher Education Services Corporation (NYSHESC) prior to disbursement.
Loan Schedule:
Graduate students who do not have adverse credit history may borrow up to the cost of attendance minus any estimated financial assistance the student has been or will be awarded during the period of enrollment. Effective for loans disbursed on or after July 1, 2006 the interest rate is fixed at 8.5%. Effective July 1, 1999 all loans approved for academic periods beginning on or after July 1 will be charged a 3% origination fee. These fees are charged and deducted from the approved loan amount.
Rights and Responsibilities of Recipients:
The repayment period begins on the day the loan is disbursed and interest starts to accrue on that date. The first payment is due within 60 days from the date of disbursement. The maximum repayment period will be 10 years from the date of the promissory note. The minimum repayment period is normally five years, but shorter repayment periods can be arranged. In addition, applicants are required to complete FAFSA and they must have applied for their annual loan maximum eligibility under the Stafford Loan program before applying for a Graduate PLUS loan. This program takes effect for loans certified on or after July 1, 2006.
Refund Attribution Policy
When a student withdraws from the College prior to the end of a semester, the College's refund policy will be used to determine the amount a student will be charged for tuition and other semester charges. Once this amount has been calculated, the Refund Attribution Policy determines the order in which refunds or overpayments of financial aid are distributed back to the applicable programs for up to the full amount received. Funds are returned first to the Title IV Programs and then to Non-Title IV programs in the following order:
Title IV Programs Non-Title IV Programs
FFEL Program Loans NYS TAP
Federal Perkins Loan Daemen College Scholarships/Grant
Federal PELL Grants Private Scholarships/Grants
FSEOG Private Loans
Other Title IV Student Aid Student
Consolidation Loan Program
Student borrowers who are in repayment or in their grace period are eligible for loan consolidation. An FFEL Consolidation Loan is designed to help student borrowers consolidate several types of federal student loans with various repayment schedules into one loan. With an FFEL Consolidation Loan, only one payment a month is made. Any consolidation loan made will be counted against a borrower's limitations for aggregate indebtedness under the Student Loan Program.
C. Other Financial Aid Sources
Many other governmental agencies, private foundations, professional associations, and commercial firms offer scholarships, loans, and other forms of financial aid to qualified and deserving students. Daemen College's Financial Aid Office can help you locate and apply for these additional sources of financial aid.
