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FINANCIAL AID SERVICESSEMESTER AND SUMMER STUDENT AIDRESOURCES PRESENTATIONFEBRUARY 19, 2019
PRESENTERS AlkidaShtembari Assistant Elizabeth DirectorDirector and Scholarships Specialist(Betty) Riquez
ATTACHMENTS1.How to Apply for Financial Aid2.Types of Student Aid3.New York Excelsior Scholarship4.External Scholarship Resources1
Summer at Baruch WHAT’S YEAR ROUND PELL (YRP) 150% BACK-END VS. FRONT-END PELL SUMMER FEDERAL DIRECT LOANS & PRIVATE LOANS SUMMER TAP EXTERNAL SCHOLARSHIPS2
YEAR ROUND PELL 150%The U.S. Education Department announced that year-round PellGrants will be available. This decision allows students tograduate sooner by taking summer classes. The program, known as Year Round Pell, allows students toreceive a Pell Grant for up to 150 percent of their currentscheduled award. What does this mean? If a student is awarded 6,095 for theyear, the student may receive up to 3,047.50 for attendingcollege in the summer. This additional Pell usage in the currentFAFSA year requires enrollment of 6 credits in the Summer.However, students enrolling in less than 6 credits can use Pellfrom the upcoming FAFSA year. 3
YEAR ROUND PELL (YRP)150% ELIGIBILITY Have completed a 2018-2019 FAFSA Be Pell Grant Eligible Enroll for at least 6 half-time (6 credits) Be meeting Satisfactory Academic Progress(SAP) Comply with Verification Process (if selected) Have lifetime Pell Grant eligibility remaining4
YEAR ROUND PELL - VERIFICATION The role of the college in the verification process Acceptable verification documents Failure to complete verification5
EXAMPLES OF YEAR ROUND PELL6
ADDITIONAL PELL: EXAMPLE 1- SEMESTERS12crd6 crd Enrolled Half Time SummerTerm 25% Eligible Enrolled Full Time FallTerm 50% Eligible75% from the Initial 100%Scheduled Pell Award usedbetween the fall and spring9 crd Spring Three QuartersSummer Term 37.5%Eligible25% remaining from the Initial 100% Scheduled Award 12.5 % from the Additional Pell 37.5%75% 37.5% Total 112.5%Before the student can receive anyAdditional Pell (up to 50%), the studentmust use up the 100% of the originalScheduled Award and be enrolled atleast half-time.Student must be enrolled for atleast Three Quarters in the spring totap into the Additional 50% PellGrant*Note: Pell eligible students registered less than half-time (i.e. 5.5 credits or below) are NOT eligible for the 150% Pell for thesummer and will only be eligible for a Pell award if they did not exhaust their Pell Grant eligibility prior to the summer7
BACK-END VS. FRONT-END PELL18-1918-19Front-end Pell100%Back-end Pell 100%Fall 20189 Credits37.5% PellSummer 183 Credits12.5% Pell deducted fromspring termSpring 20199 credits37.5% PellFall 201812 credits50% PellSummer 20196 credits25% remaining fromthe scheduled 100%Pell AwardSpring 20199 credits37.50% remaining sincestudent already used12.5% in summer 188
Summer Federal Direct Loans& Private Loans To be eligible for Summer Federal Direct Loans, students must: Be enrolled at least half-time (6 credits) Have a completed FAFSA loaded in CUNYfirst Meet Satisfactory Academic Progress (SAP) Have not exhausted their loan eligibilityPrivate Loans available through loan services such as: Navient, Sallie Mae,Wells Fargo, etc.10
SUMMER TAP ELIGIBILITY To be eligible for Summer TAP, students must: have been enrolled full time in the prior spring have earned a combined total of 24 credits in the prior two semesters(transfer credits do not apply) meet all of the NYS Satisfactory Academic Progress Guidelines have not exhausted their TAP eligibility9
EXTERNAL SCHOLARSHIPRESOURCES Outside scholarships, also known as privatescholarships, are not managed oradministered by Baruch College, but byoutside entities. Although Baruch does notaward these funds, federal, state andBaruch policies require that the universityuse outside scholarships as a resourceagainst federal need and cost ofattendance. Scholarship checks are receivedby the Bursar’s Office and submitted toFinancial Aid Services for approval. Submit an application directly to thefollowing sites: The College Board Collegenet.com Scholarships.com rship-resources/11
WEBSITES FAFSA.GOV BARUCH FEDERAL SCHOOL CODE: 007273 FSAID.GOV CREATE/RETRIEVE FSAID HESC.ORG BARUCH NYS SCHOOL CODE: 1409 BARUCH.CUNY.EDU/FINANCIALAID/ FINANCIAL AID SERVICES WEBSITE12
Q&AQuestions? Please contact us! Admitted students must use their Baruchemail and include their full name andCUNYfirst EMPLID E-mail: financial.aid@baruch.cuny.edu
administered by Baruch College, but by outside entities. Although Baruch does not award these funds, federal, state and Baruch policies require that the university use outside scholarships as a resource against fede
