Financial Aid

Financial Aid are funds that you receive from the government that go towards your post-secondary educational expenses and tuition. These funds do not have to be paid back to the government in any capacity. Essentially, it is free financial assistance for your college education with no strings attached. Financial Aid can come from two sources: The Federal Government's U.S. Department of Education in the form of the Free Application for Federal Student Aid (FAFSA), and from New York State's Higher Education Services Coporation (HESC) in the form of the Tuition Assistance Program (TAP).

Paying for College

No matter which school you choose to go to, college tuition and expenses with attending college can cost you a pretty penny. The cost of tuition should be an important determining factor when choosing your school. After finishing college, you don't want to have thousands and thousands of dollars of debt looming over your financial situation for years to come (you don't want your piggy bank to suffer the consequences). Think long-term and be smart about your college expenses today!

Having said this, let's walk through the various ways that college tuition and expenses can be covered for...

  • Financial Aid
  • Student Loans
  • Scholarships (Link)

Free Application for Federal Student Aid (FAFSA)

The Free* Application for Federal Student Aid (FAFSA) is a form used to determine the amount of money a family is expected to contribute to the price of attending a post-secondary school or institute. The FAFSA's results are used in determining a student's eligibility for grants, work study, and student loan amounts.

  1. Create an FSA ID. This ID will allow you to access Federal Student Aid's online systems to start filling out your online FAFSA and is also used to verify your identity.
  2. Login to your newly created account by clicking on the FSA logo to the right, clicking LOGIN, filling in your FSA ID credentials and clicking "next".
  3. From here, you can begin filling out your FAFSA! Applications are open at the start of every year annually on January 1st.

NOTE: The FAFSA must be filled out annually for every year of attendance at a college or post-secondary institute. The FAFSA is a FREE application, and if a website is prompting you to pay for the submission and completion of the FAFSA, you are NOT on the official U.S. Department Of Education's Website. The official FAFSA website is detailed below.

COUNSELOR TIP: Fill out the FAFSA with a parent or guardian for inputting financial information, and walk through the application, together!

What happens after I submit my FAFSA?

After you complete and submit your FAFSA, you will receive a Student Aid Report (SAR) via the email you provided on your FAFSA, detailing your EFC or Estimated Family Contribution to your college education based on the information provided on your FAFSA. The schools listed on your FAFSA will use your EFC to determine the amount of financial aid you are eligible to receive. Thus, each school will send you a Financial Aid Award Letter with details of how much financial aid they are offering you. You can either decline or accept their financial aid offer by contacting a school's financial aid office.

New York State's Tuition Assistance Program (TAP)

The NYS Tuition Assistance Program (TAP) helps eligible New York residents pay tuition costs and expenses at approved post-secondary institutes and colleges in New York State. A TAP reward grant can be as much as $5,000 for each academic year. Much like the FAFSA, filling out and submitting a TAP application is absolutely FREE!

Starting the TAP

  1. Create an HESCPIN. With this account you will be have access to your online TAP application and the HESC website.
  2. Login with your new HESCPIN by clicking the logo to the right by filling in your account credentials where appropriate, and click "enter".
  3. From here, you can begin filling out your TAP! Like the FAFSA, new TAP applications are readily available on January 1st of each year and must be filled out for every year you attend college.

COUNSELOR TIP: Make a note of your account login information in case you forget, making logging into your account easier in the future!

What happens after I submit my TAP?

After you complete and submit your TAP application, much like the FAFSA, you will receive information about how much financial aid you will be offered from each school listed on your application in your Financial Aid Award Letter. Your Federal Student Aid and TAP financial aid amounts will be listed on each financial aid award letter. You can either decline or accept your financial aid award letters by contacting a school's financial aid office.

COUNSELOR TIP: When listing colleges and universities on your FAFSA & TAP, try putting them in alphabetical order! That way your preference for a particular school isn't made obvious to financial aid advisers reviewing your application. Statistics have shown that this factor alone can affect the amount of financial aid offered in your award letter.

Link: TAP FAQ

Financial Aid Award Letters

Financial Aid Award Letters will detail how much Financial Aid you will be receiving in Grants, Scholarships, and how much Work-Study and Student Loans you are eligible to receive. Each school that you have been accepted to will be sending you a financial aid award letter.

COUNSELOR TIP: Keep your parents in the loop and in the conversation when talking about how to pay for college, and schedule an appointment with a financial aid adviser at your school!