Indexed Adobe PDF (Spring 2011-Full Version) - SUNY Orange

Financial Aidinstitution of higher education at the time, and isPell-eligible - effective 7/1/09 NOTE: This is achange to the original policy noted at the top ofthis page• Creates the "Iraq and Afghanistan ServiceGrants" - effective July 1, 2010 - for studentswhose parent or guardian died as a result ofmilitary service in Iraq or Afghanistan after9/11/01, if the student was under 24 years old atthe time or enrolled in an institution of highereducation at the time. This program is forstudents who do not qualify for a Federal PellGrant.The awards will be: Equal to the maximum PellGrant available for the award year. Awards will beproportionally reduced for students enrolled on apart-time basis.These awards will not be counted as "estimatedfinancial assistance" in determining a student'seligibility for other Title IV federal financial aidfunds. However, this award and all other aid receivedcannot exceed the "cost of attendance" at the student'sschool.Provision Added to War Funding Bill Covers Costof College Education for All Surviving MilitaryChildrenThe final 2009 Supplemental Appropriations bill(H.R. 2346) which funds U.S. military operations inAfghanistan and Iraq, includes a provision to expandGI Bill benefits to children of fallen U.S. soldiers. Theprovision, authored by Congressman Chet Edwards(D-TX), expands the Post-9/11 GI Bill educationbenefit to cover the full cost of a college education forall children of fallen soldiers. The new benefit will beknown as the Marine Gunnery Sergeant John DavidFry Scholarship in honor of a fallen soldier withthree young children from Edwards' district. PresidentObama signed the bill into law on June 24, 2009.Post 9/11 G.I. BillParents can transfer their educational benefitsunder the Post 9/11 G.I. Bill to their dependentchildren.Federal Academic Competitiveness Grant(FACG)An Academic Competitiveness Grant provides upto $750 for first-year undergraduate students and upto $1,300 for sophomores. Both full-time and parttimestudents are eligible for the award. Studentseligible for this grant are those 1) who are US citizensor Eligible Non-Citizens, 2) who receive a Federal PellGrant, and 3) who had successfully completed arigorous high school program, as determined by thestate or local education agency and recognized by theSecretary of Education. Second-year students mustalso have maintained a cumulative grade pointaverage (GPA) of at least 3.0.The program was available for the first time for the2006-07 school year for first-year students whograduated from high school after January 1, 2006 andfor second-year students who graduated from highschool after January 1, 2005.Federal Perkins LoanStudents who demonstrate exceptional need may beeligible to receive up to $27,500 as an undergraduate($5,500 maximum per year). However. loans generallyrange from $500 to $5,500 a year, at 5% interest withapproximately 10 years to repay.As of 1987/88, new borrowers have nine monthsafter termination of their studies to begin repayment.FAFSA is required.PERKINS PROMISSORY NOTEIf you accept a Perkins Loan award, you arerequired to complete a Perkins Promissory Note inthe Student Accounts Office every year. You maycomplete the Perkins Promissory note as early as fivedays after you accept your Perkins award. You mustvisit the Student Accounts Office to complete thepaper Promissory Note and an Entrance Interview;no earlier than July 1st. Please call 845-341-4911 tomake an appointment. You will need to bring copiesof your driver’s license and Social Security card forprocessing.Your failure to complete the Promissory Note willresult in the cancellation of your Perkins loan.All Campus-Based-Aid programs are subject to thefederal government’s allocation to the school. Whenall the funds are exhausted, awarding anddisbursement of this aid program stops.Federal Supplementary Education OpportunityGrant (FSEOG)High-need students may be eligible to receiveFSEOG grants ranging from $300 to $500 a year.Money for this program is extremely limited. Studentswho have earned a bachelor's degree are not eligible.FAFSA is required. All Campus-Based-Aid programsare subject to the federal government’s allocation tothe school. When all the funds are exhausted,awarding and disbursement of this aid program stops.Federal College Work-Study (FCWS)Eligible students may work part-time while incollege to help defray their educational cost. Studentsare paid an hourly rate and receive a paycheck everytwo weeks for the hours worked. Students cannotearn more than the amount of their work-studyaward. Salary is $8.00 per hour (subject to change)Spring 2011www.sunyorange.edu25