Frequently Asked Questions

How do I apply for financial aid?
Beginning January 1 of your student’s senior year, you should submit the FAFSA at www.fafsa.ed.gov. Be sure that both student and parent apply for a pin number at www.pin.ed.gov before completing the FAFSA.

School Codes: Federal School Code (FAFSA): 002705
NYS TAP Code (NY Residents only): 0140

What are the important deadlines for financial aid?
For all First-Time Freshmen & New Transfer Students entering in the Fall term, your FAFSA should be completed prior to February 15 in order to be considered for any need-based aid.
Any new student accepted for the Spring term should have their FAFSA completed prior to November 1.

What is a Financial Aid Package?
A Financial Aid Package is a listing, produced by the College, of all grants, scholarships, and loans that a student might receive from Federal, State, College sources.

What is an Award Letter?
Award letters are mailed from the Office of Financial Aid. The letter outlines your financial aid package. It advises students of their rights and responsibilities as a financial aid recipient.

When will I receive my Award Letter?
For all accepted students, the award letters are sent out in late February. If your FAFSA is received later than February 15, you can expect to receive your award letter within 2 weeks after it has been sent to us by the federal processor.

Must I be accepted to the College before submitting the FAFSA?
No. You may submit the FAFSA after January 1, regardless of your application status. However, you must be admitted and enrolled at The College of Saint Rose to receive any funds awarded.

I do not believe I will qualify for financial aid because my family’s income is too high, should I still file?
Yes. All students should apply for financial aid. Financial aid comes from various sources (college, federal & state). You are also required to file the FAFSA if you intend to take out a government loan. When in doubt, fill it out.

If my parents do not have their taxes completed prior to filing the FAFSA, should I wait for them to be completed before filing?
No. Although accurate information is important when filing the FAFSA, you are allowed to estimate income figures. Once your taxes have been completed, you will need to go back and update the FAFSA with the appropriate figures.

My parents are separated or divorced, which parent should I use when filing the FAFSA?
In the event that your parents are separated or divorced you will need to report the data for the custodial parent (not necessarily the parent that claims you on their tax return). The custodial parent is the parent with whom you resided the most in the past 12 months. In the event that you did not live with your parents or they have shared, equal custody, report the parent that provided the most financial support during the past 12 months.

My parents do not support me, or claim me on their tax returns. Can I be considered an independent student and not have to include their information?
The federal government has established strict guidelines regarding dependent/independent status. You may be considered an independent student if you meet any of the following criteria:

•you are at least 24 years of age
•your are veteran of the U.S. Armed Forces
•you are married or have a legal dependent other than a spouse
•you are an orphan or ward of the court
Parent data is necessary if you do not meet any of the above situations.

If I receive a scholarship from an organization other than the College, what should I do?
You must notify the financial aid office of all outside awards. Your financial aid package may need to be adjusted to include this award. In the event that your package does change, you will be sent a new award letter.

Do I have to reapply for financial aid every year?
Yes. After your first year you will fill out the Renewal Application which contains preprinted information from the prior years FAFSA.

What are Alternative/Private Loans?
Alternative/Private Loans are those loans not offered by the federal government, but offered by various banks for educational purposes. Such loans are subject to approval based upon credit history and do not follow federal rules or guidelines.

Do you offer a payment plan?
Yes. While a payment plan does not come in the form of financial aid, it is a great way to spread out your remaining cost up to a ten month period. Contact the Bursar’s Office for further information.

How do grades affect a student’s eligibility for financial aid?
Student’s must maintain Satisfactory Academic Progress (SAP) in order to continue to receive financial aid. Please refer to the latest Undergraduate Catalog for more information about SAP. Also, be advised that the criteria differ for federal, state, and institutional aid.

What happens to my financial aid if I decide to drop classes or withdraw from the College?
If a student drops from all courses prior to the end of the add/drop period, all tuition liability will be eliminated, and all financial aid will be returned to the appropriate source(s). Once the add/drop period ends, a student only has the option of withdrawing, at which time both tuition liability and financial aid eligibility will be prorated. Please refer to the Undergraduate Catalog for a more detailed explanation of the financial aid refund calculation.