Each student at SUNY Cortland has their very own financial aid advisor to work with and guide them through the financial aid process. Students having difficulties with financial aid forms or those who have questions on a more personal level, should not hesitate to contact an advisor. Not sure who your advisor is? Refer to our Staff page.
The most common types of federal student aid include grants, government loans, and federal work-study. Federal student aid programs are regulated by the government and are usually the first resources students turn to when looking for financial aid.
Private loans, on the other hand, are most often used to cover education costs that cannot be met by federal aid.
Before a student or parent can be considered eligible for any government programs, including government loans, they must complete and submit a Free Application for Federal Student Aid (or FAFSA). The information provided on the FAFSA determines how much financial aid a student is eligible to receive.
Step 1: Submitting the FAFSA
Filing the FAFSA is the first and most important step in the financial aid process. The application must be completed every spring for the upcoming school year. The data submitted in the application determines a student’s eligibility for all of the federal student aid programs (and many state and institutional programs as well).
The fastest and most accurate way of submitting the FAFSA application is the on-line process from the U.S. Department of Education, available at www.fafsa.ed.gov. To make the process easier, Cortland has provided printable step-by-step instructions for the entire on-line process. For those without computer access, a limited number of paper applications are still available annually from any college financial aid office, many high school guidance offices, public libraries, or by telephone at (800) 433-3243.
The electronic FAFSA process requires the student and at least one parent get a PIN number in advance of filing the FAFSA.. The PIN is free and available at www.pin.ed.gov. The number will be mailed/e-mailed from the Federal Student Aid Programs seven to ten days after it is requested. This PIN is used throughout a student’s college career, so it is important to keep the number for future use. If the PIN has been misplaced, a replacement pin can be requested at www.pin.ed.gov.
FAFSA Dates and Reminders:
Pay attention to the deadlines! Cortland strongly recommends that each student complete the FAFSA by March 1 each year. Please remember that this deadline applies every year of a student’s college career.
The on-line process becomes available each year on January 2, but a PIN number can be requested at any time. The paper FAFSA will be rejected if it is mailed before January 2.
Step 2: The Student Aid Report (SAR) and PIN number
A few weeks after submitting the on-line FAFSA, a student will receive a Student Aid Report (SAR). The SAR contains all the information the student provided on their FAFSA, messages from the processor, and a list of schools that will receive the SAR.
All of the schools listed on a student’s SAR receive the application data electronically. Schools use the SAR data to determine a student's eligibility for student aid.
If a student applied using the paper FAFSA and did not apply for a PIN, the federal processor will automatically create a PIN number for the student when the SAR is generated. This PIN number is important and should not be misplaced. In addition to future FAFSA applications, the PIN is used to allow students to electronically sign for student loans, and to access Department of Education information on the Internet.
Step 3: Expected Family Contribution
Under federal student aid programs, parents are considered primarily responsible for paying for their dependent student's education to the best of their ability. This means that the student and/or their family will most often be responsible for paying some portion of their total education costs.
This amount is called the Expected Family Contribution or EFC.
Eligibility for student aid is determined, in part, by the difference between what a student's family can afford to pay and the cost of attending a specific college or university.
Every SAR will reflect the EFC that has been generated using the information provided on the student's FAFSA. It will appear in the upper-right-hand corner of the SAR. This is the amount the federal government has determined that the student and/or their family will be able to contribute toward the cost of the student's education, including living expenses, for one year.
The EFC is calculated by a standard formula and is the same for all schools to which a student might apply for aid, no matter what it costs to attend each school.
Certain schools may also request additional information from students, such as copies of their and/or their parents' tax returns. We recommend that students always respond immediately to any requests for additional information, as financial aid is awarded on a first-come, first-serve basis and funds are limited. Students should not supply these additional documents unless the financial aid office requests them.
We offer a variety of loan products that can be used to help finance the Expected Family Contribution. For more information, send us an e-mail or call (607) 753-4717.
Step 4: Submitting the TAP application
Students who are not residents of New York, please skip to step 5.
New York State Tuition Assistance Program (TAP) is for students meeting residence, income, academic or other requirements, as established by state law. As a result of completing the FAFSA, a student's information will be forwarded to the New York State Higher Education Services Corporation (NYSHESC).
Electronic FAFSA filers who meet New York State residency requirements and who have listed a New York State college will be given an electronic link on the FAFSA Web site in order to complete their NYS Express Tap Application (ETA). Paper FAFSA filers will be sent their ETA by mail if the student is a first-time state award recipient or if NYSHESC requires additional information to process their application.
Upon completion, students will be notified of an award by NYSHESC. Although an estimate of eligibility may be included on the award letter, the state’s notification is the official approved award. Students who need to make any corrections should follow the directions on the Change Form provided by NYSHESC. It is recommended that students keep a copy of the Change Form. If a duplicate ETA or Change Form is needed, place a request online at http://www.hesc.com
Academic requirements for New York State programs differ from requirements for federal aid programs. Academic eligibility is reviewed at the completion of each semester. Minimum state requirements for credit hour accumulation and grade point average are published in the SUNY Cortand Undergraduate Catalog.
Most New York State awards require full-time status of 12 or more credits per semester. Students meeting all other state requirements may repeat classes in which a failing grade was initially received. This does not hold true in situations where a recipient wishes to repeat a successfully completed course to improve the initial grade. In this situation the repeated course does not count towards the twelve-credit minimum, and the state award might be subject to retroactive cancellation when the repeated course is identified.
In addition to New York State TAP, some students may be awarded additional state sponsored awards such as the Academic Excellence Scholarship or the Persian Gulf Benefit. The total of all state awards will be reflected as a TAP grant on your award letter.
Step 5: Receiving Award Letters
The next part of the financial aid process begins when the student receives financial aid award letter. The award letters indicate how much funding, and what types of aid, a student is eligible to receive.
The award letter is made up of the following sections:
A summary of the cost of education: including tuition and fees, books and supplies, living expenses, transportation and personal costs. The cost of education will be different for each school.
Financial Awards: This section of the award letter will spell out the types of aid that the student is eligible for. This may include:
- Grants from the federal or state governments or the school.
- Scholarships
- Eligibility for Federal Work-Study (money earned by working during the course of the year).
- Federal or private student loans (borrowed money that must be repaid after leaving school).
Understanding the Award Letter: Within two weeks of receiving an award letter, a student should inform SUNY Cortland whether they are accepting or declining the awards. Students don't need to accept everything offered, but if they decline anything, the school will not replace it with other types of aid.
If a student or their parents' financial circumstances have changed since the completion of the FAFSA, it's very important to inform the financial advisement office.
Other Items to Consider:
- Are the grants and scholarships in the award letter renewable? What are their terms and conditions? If they are renewable, what is the renewal process? If not, what financing options can be substituted for them after the first year of college?
- If the financial aid can not meet a student's total financial need, can this amount be earned or will the student require a loan?
- How much loan aid is offered? What are the terms and conditions? What is the interest rate? Are there any deferment, cancellation, or forgiveness policies?
- If work-study has been awarded, is this a realistic option?
Step 6: Stay on top of your information
Be sure to check BannerWeb periodically to be sure that no additional information is needed.
Oftentimes we send e-mail reminders throughout the year about important deadlines or documents needed. Students who don't use their Cortland e-mail account for everyday usage, must update their BannerWeb Email address to an everyday e-mail address to ensure that these timely messages are received.