The College of Saint Rose
432 Western Avenue
Albany New York 12203
1-800-637-8556
 

Frequently Asked Questions Financial Aid Student Solution Center     A. Financial Aid FAQ back What do I do with my Award Letter? The Award Letter packet informs you of the aid for which you are eligible, and allows you to accept or decline the aid that is being offered. You are asked to sign and return one copy of the Award Letter indicating which aid you would like to accept or decline using the postage paid envelope that is enclosed in the Award Letter packet to the Financial Aid Office. Please note that Freshman students have a May 1st deadline to return their award letter to the Financial Aid Office to accept their aid package. You can also accept your awards on the web. How do I submit the FAFSA? You may file your FAFSA anytime after January 1st of each year. The FAFSA can be completed on paper and mailed to the Federal processor with the enclosed envelope, or you can submit the FAFSA online at www.fafsa.ed.gov. You will be required to log on with your assigned PIN number to file your FAFSA via the web. If you do not have a PIN, or forgot what it is, you can request a PIN at www.pin.ed.gov. Please allow four to six weeks for the FAFSA to be processed if you mail the paper application and two weeks if you file the FAFSA online. The College of Saint Rose School Codes Federal School Code (FAFSA): 002705 New York State TAP Code (ETA): 0140 What are the important deadlines for financial aid? First-Time Students: March 1 is the deadline to have your SAR/ISIR received by the Financial Aid Office to be considered for any need-based aid. Returning Students: Returning students are required to have their SAR/ISIR received by the College no later than April 1, to be considered for campus based funding. If you have been selected for verification and notified by the Financial Aid Office, you are required to have all needed documentation submitted to the Office within 60 days of notification. If you are going to be a transfer/new student for the spring semester, you are required to have your SAR/ISIR received by the Office by November 1. Should I wait until I am admitted to the College before applying for financial aid? No. You should file the FAFSA as soon as possible after January 1. You must, however, be admitted to the College before a financial aid award notice will be sent to you. Do I have to reapply for financial aid every year? YES! You must reapply for financial aid each year by completing either the Renewal FAFSA (if you received one) or the FAFSA. The deadline for completing your renewal FAFSA is March 1 of each new academic year.My parents are divorced. Whose financial information should I report on the FAFSA? Report information for the parent with whom you lived the most during the last 12 months. If you did not live with one parent more than the other, or did not live with either parent, the FAFSA should be filled out by the parent who provided the most financial support during the last 12 months. If you have not received any support from either parent during the last 12 months, the FAFSA should be filled out by the parent from whom you most recently received support or lived with. If your parent has remarried, you must also report income and asset information for your step-parent.

• you are at least 24 years old (for the 2007-2008 academic year, born before 1/1/1984)
• you are a veteran of the U.S. armed Forces
• you are a graduate student
• you are married or have legal dependents other than a spouse
• you are an orphan or ward of the court

If you do not meet one of the criteria listed above, you are considered financially dependent. It does not matter whether you live with your parents, receive support from them or are claimed on their tax returns.

• substantial loss of income
• marital separation or divorce
• substantial unreimbursed medical expenses

You may notify the Office of Financial Aid of the nature of the change in writing. You will be asked to submit documentation supporting your claim. We will determine if adjustments should be made to your financial aid award.

B. Student Solution Center FAQ

The College of Saint Rose is not listed on my SAR.
What should I do?
The fastest way to ensure we get your FAFSA data is to call the Federal Student Aid Processor at (800) 433-3243. You will need the following information when you call: your four-digit Data Release Number (DRN), found on the first page of your SAR, and the six-digit Title IV school code for the College of Saint Rose. Our school code is 002705.

My SAR isn't accurate. How do I correct it?
The fastest way to correct errors on your SAR is to go online to http://www.fafsa.ed.gov/faa/faa.htm and submit your changes there. You need to have your pin number before you can make any changes. If you do not have your pin number or forgot what it might be, you can go to www.pin.ed.gov to request your pin number. Once you receive your pin number you can go to the FAA correction site and logon using your Social Security Number and pin number. Once you have logged in, you simply click on the Fafsa Corrections link and change the data that is incorrect. Make sure you submit your changes and if possible, print the pages that give you the confirmation. If you cannot locate your SAR, contact the Federal Student Air Processor at (800) 433-3243 to obtain a duplicate.

Who do I call to find out about my bill?
You may call the Bursars Office at (518) 458-5464. They can discuss any payment options available to you and specific questions regarding your bill and charges.

If I receive a scholarship from outside the College, or if my employer is paying my tuition, what should I do?
You must notify the Office of Financial Aid of any financial assistance received from an outside source. We will revise your financial aid package to include the outside assistance. In the event that the outside assistance affects your eligibility for previously awarded financial aid, you will be notified in writing of any changes to your financial aid package.13.

How do grades affect a student's eligibility for financial aid?

Federal Financial Aid
Students must make satisfactory academic progress towards their degrees in order to continue to receive financial aid. Go to page 75 of the Undergraduate Catalog for more information about satisfactory academic progress for financial aid.

New York State Grants and Scholarships
In order to continue to receive New York State awards, including TAP, students must meet specific academic eligibility requirements established by the New York State Commissioner of Education and the New York State Legislature. Go to page 78 of the Undergraduate Catalog for a detailed explanation of the academic progress requirement for state grants.

What happens to my financial aid if I decide to drop classes or withdraw from the College?
Depending on when you drop classes or withdraw from the College, you may be required to repay a portion, or all, of any financial aid you have received for the term. For New York State awards, including TAP, dropping classes or withdrawing may affect your eligibility for the current term and subsequent terms. Go to page 76 of the Undergraduate Catalog for a detailed explanation of the financial aid refund calculations. Contact the Financial Aid Office and the Bursars Office if you have questions about the effect dropping classes or withdrawing from the College will have on your financial aid. Please note that if you are withdrawing from the College, you must contact the Dean of your school.

I am back in college. How do I stop making payments
on my student loans?
Generally, you must demonstrate to your lender(s) that your current enrollment meets the criteria for the deferment of your loan payments. If you have loans from more than one source, or more than one type of loan, you may have to notify each lender individually. You will be required to fill out a deferment form that is to be completed by the Registrar's Office then mailed back to your lender(s). Contact your lender(s) for more information.

I applied for financial aid. Why was I only offered loans?
Loans are a form of student financial aid. Grant aid is limited, and is typically awarded to students demonstrating relatively high levels of need. Student loans offer the opportunity to borrow money to help pay for college at an interest rate and with repayment terms that would not otherwise be available. No student is required to take out a loan, but in some cases loans are the only form of student financial aid for which a student is eligible.

How can I find out more specific information about financial aid at The College of Saint Rose?
Attend one of our financial aid information seminars. Or you can call our Office anytime between 8:30 am to 6:00 pm Monday through Thursday, or until 4:30 pm on Fridays. You can also send us an email at finaid@strose.edu.

What are alternative loans?
Alternative loans are loans that you borrow from a bank that are in addition to your federal student loans. Alternative loans are not federal loans and therefore they do not follow federal loan rules or guidelines. You apply for an alternative loan by filling out an application at a bank of your choice, then submitting the application to the Financial Aid Office for school certification. Alternative loans take about two to three weeks to process and for the College to receive payments. Please remember this when applying for alternative loans for billing purposes.

How much do I owe and when is it due?
Bills are regularly mailed to the student’s permanent address. The first billing is sent approximately one month prior to the beginning of the semester. Subsequent billings are mailed out monthly. Please note that your balance is due ten days before classes begin. If you register for classes after the payment due date, payment in full is due at the time of registration.

The amount reflected on your bill or invoice is an accurate reflection of your account at the time of the mailing. However, certain circumstances may change the amount that you are responsible to pay. Changes that might modify your account balance include (but are not limited to):

• Adding or dropping a class
• Late registration
• Changes to your financial aid package
• Changes to your anticipated outside funding (loans, scholarships, etc.)
• Changes to your meal plan and/or your housing status

If you make any changes after the semester due date, any new balance must be paid in full when the change is made. Although you may at any time request a new bill, an easy way to stay informed is to check your account online by logging into the secure area of our website at https://bannerweb.strose.edu.

Who is responsible for paying the bill?
You, the student, are responsible for the payment of your account. We recognize that your parent(s) may be involved with this process as well, and might have questions about your bill. If this is the case, we strongly encourage good communication between you and your parent(s) regarding the status of your account.

When are late fees assessed?
A late fee of $75 is assessed monthly on all accounts that are past due. To avoid accumulating late fees, it is your responsibility to ensure that your student account liability has been met.

How can I make payments to my account?
You can mail a check, money order, or your Discover, MasterCard or Visa information to:

The College of Saint Rose, Bursar’s Office
432 Western Avenue, Albany, NY 12203

You may also make credit card payments by fax or online:
Fax: (518) 454-2054
Online credit card or check payment may be made through our website by logging into your student account at http://bannerweb.strose.edu.

We also accept payments at our offices, located in the Student Solution Center on the third floor of Saint Joseph Hall.