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The major financial aid programs are the Pell Grant Program, the New York State Tuition Assistance Program (TAP), and the William D. Ford Direct Loan Program. All students requesting financial aid must file a free application for Federal Student Aid (FAFSA) for federal, state, and loan programs. All financial aid is based on need as determined by the FASFA data. Only matriculated students are eligible to receive financial aid and all recipients must meet the guidelines of need for each program.
Information regarding how to apply for financial aid is available below and in the Administration Office. All programs must be applied for annually, and continued eligibility must be maintained by meeting minimum academic standards. Students are responsible for being aware of filing deadlines as published on applications. Students who are in default of a William D. Ford Direct Loan are usually not eligible for financial aid.
All financial aid applicants should refer to the current year Financial Aid Student Guide published by the U.S. Department of Education, which is available in the Administration Office for the latest program requirements.
A federal Pell Grant is a financial aid award that does not have to be repaid. Pell Grants are available for matriculating students who meet the financial need guidelines of the program. U.S. citizenship or permanent residence status is required. As of July 1, 2014, eligibility for the Pell Grant is limited to 12 terms of full time payments or its equivalent.
All students applying for a Pell Grant must submit a FASFA to the Federal Processor and IDC must receive a complete and valid document by the last date of the enrollment period. Any report received after the last date of the enrollment period will not be considered a valid document (in approximately 1 week, you should receive notification Student Aid Report of a possible award). Awards are based upon an Estimated Family Contribution (EFC) and can range up to $5730 per year for full time study. An EFC of 0000 will result in the maximum award.
In order for a Pell Grant to be processed, you must submit the following documentation along with your Student Aid Report (ALL Student Aid Reports which are processed through the IDC financial aid office are verified for correct information). This documentation must be submitted before any award can be disbursed.
1. A completed Verification Worksheet for 2014-15
2. A signed copy of your 2013 Income Tax Form – including W-2 forms
3. Documentation of untaxed income (if applicable)
4. If you were born after January 1, 1991 - a signed copy of your parents' 2013 income tax forms – including W-2 forms
5. Proof of any other income reported on the Pell Grant application.
6. Proof of permanent residency, if you are a non-citizen
7. Any other documentation requested by the Financial Aid Office.
Pell Grants will not be processed until all the required documentation is submitted and is correct. Student Aid Reports should be submitted during the academic year. Awards will also be based upon your enrollment status, on the date that you submit your valid Student Aid Report, and all the necessary documentation.
TUITION ASSISTANCE PROGRAM (TAP)
TAP awards are issued to New York State residents who are enrolled full time in a degree-granting program study and meet the income criteria. Students must apply for TAP awards on a yearly basis. If elligible, the maximum annual award is $4000.
To be eligible for a TAP award a student must:
* Be a United States citizen or eligible noncitizen.
* Be a resident of New York.
* Study full time undergraduate (at least 12 credits per semester) at an approved postsecondary institution in New York.
*Graduated from high school in the United States or earned a GED.
* Be matriculated in an approved program of study and be in good academic standing. Have at least a cumulative "C" average as of the 2nd semester payment.
* Be charged at least $200 tuition per year.
* Not be in default on any state or federal student loans and not be in default on any repayment of State awards.
* Meet income requirement.
TAP awards are made based upon the following income limits:
* Dependent undergraduate students, or independent students who are married and have tax dependents, or independent students who are unmarried and have tax dependents - $80,000 NYS taxable income.
* Independent undergraduate students who are married and have no other tax dependents - $40,000 NYS taxable income.
* Single independent undergraduate students with no tax dependents - $10,000 NYS taxable income.
Students who are New York State residents applying for TAP must do so by first filling out the FASFA . You will be able to link to your online TAP application at the end of the FASFA session. For more information, students can contact the Administration Office or visit the New York State Higher Education Services Corporation website.
The Financial Aid Office may also request additional documentation from students before an award can be processed or tuition credit be issued. Examples of additional documentation can be: proof of NY State residency for one year prior to the beginning of an award year; proof of US permanent residency; proof of financial independence status for students under 23 years old. Please refer to the specific TAP notice for important particulars.
Eligible students may receive up to 6 TAP awards as an Associate Degree candidate. This maximum is a cumulative amount and includes any previous TAP payments you may have received at previously attended schools; thus if you received 2 TAP payments at a previous school, you will be eligible to receive only 4 semesters eligibility at IDC.
WILLIAM D. FORD DIRECT LOAN PROGRAM
Direct Loans can be obtained through the U.S. Department of Education. All loan applicants must have filed a Master Promissory Note and completed entrance counseling at www.studentloans.gov. Loans are based on need and consider a family contribution as defined by the U.S. Department of Education. All students who are applying for a Direct Loan must first apply for and receive notifications from the Pell Grant and TAP programs. A determination of need is then based upon the total budget for attendance at IDC for the year less any financial aid. If there is still an unmet need, then a loan request with an amount requested (not to exceed the allowable limits) can be processed. In applying for a loan, the student MUST keep in mind that LOANS MUST BE PAID BACK WITH INTEREST! Loan recipients must begin repayment 6 months after graduation or if not attending school at least on a half time basis.
The maximum loan for first time dependent student is $5500 per year. The maxiumum loan for a first time independent student is $9500 per year. Loans are usually disbursed in four – payments, twice each semester. First time students will not receive loan proceeds until a minimum of 30 days after the beginning date of the semester. All financial aid received cannot exceed the cost of attendance. If you have any questions regarding loans, please contact the finanical aid office.
Extreme prudence should be exercised when applying for a loan. We do not recommend applying for a loan unless it is absolutely necessary. Before applying for a loan, you must meet with a financial aid counselor for entrance counseling, to discuss your status and obligations of repayment. You will be required to have an exit interview after you leave school to review your obligation and responsibility.
AID TO PART-TIME STUDY (APTS)
This program is similar to TAP, except that it is for students registered for 3-11 credits. APTS is the primary mode used for students close to finishing their degree requirements. IDC has very limited funds that are available for this program. Applications can be obtained in the Financial Aid Office and students who have exceptional need should apply. You must also apply for TAP for income verification purposes. Awards cannot exceed tuition costs and cannot exceed the total of other state, federal, and non-governmental aid, which the Commissioner of Education determines to be duplicative of the part time award.
The following grades and symbols are used:
|FA||Failure due to Absences|
|FX||Failure, repeated course|
IDC may issue a grade of F for “incomplete” coursework, subject to completion of the coursework by the student within a specified time period.
IDC classifies the following as attempted, but not earned, credits: F, FA, W, WP, and WF.
If a student withdraws by the end of the seventh week, IDC will issue a grade of W; thereafter, IDC will issue a grade of either WP or WF. IDC issues a W and WP when a student withdraws from a course while doing satisfactory work. IDC does not include W and WP when calculating a student’s GPA. IDC issues a WF when a student withdraws from a course while doing unsatisfactory work, and includes a WF in the student's GPA.
A student may retake a course previously failed and request a grade of FX for the first attempt. Only the second grade in that course will count in the determination of a GPA. The grade report will show both grades, with the original marked FX. A student may exercise this option in order to meet graduation requirements no more than once for a given course and for no more than two courses totaling no more than six credits.
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