A requirement for New York State fianncial aid programs such as TAP, APTS or Excelsior Scholarship that applies to students who didn’t earn their diploma from a U.S. high school. If your diploma was not from a U.S. high school, you must take a state-approved ATB test to qualify for NYS aid even if you were admitted as a regular student. ATB tests are administered through the college’s Testing Office and must be taken before classes begin in order to qualify for New York State tuition assistance.
Meeting the New York State Academic Progress standard requires that you (1) accumulate at least 6 degree credits by the end of the second semester and between 12-15 credits each semester thereafter AND (2) attain a minimum grade point average (GPA) as specified by CUNY for each TAP payment requested. Federal financial aid programs require you meet a separate federal standard of satisfactory academic progress for continued receipt of federal financial aid.
A period of at least 30 weeks of instructional time during which you are expected to complete the equivalent of two semesters of full-time study. At BMCC, the academic year runs from the beginning of September to the end of May.
An offer of financial assistance to help you meet the cost of a college education.
Notification sent to you from the Financial Aid Office if you asked for campus-based financial aid such as Federal Work-Study or Perkins Loan. Your award letter indicates your financial aid package and the basis for calculating your financial need.
Financial aid programs that are administered through the college. At BMCC, these include the FSEOG, FWS and Federal Perkins Loan programs, and the New York State funded CD and APTS programs.
Failure to repay a student loan according to the terms of your repayment agreement.
A specified time during which you do not have to make loan or interest payments.
Your classification as either a dependent or independent student according to the specified requirements of the state or federal financial aid programs you are applying for. These classifications are based on the idea that students who may have access to parental support should not receive financial aid at the expense of students who don’t.
One who does not meet the criteria for classification as an independent student. If you fall into the dependent student category, you must report your income and that of your parents on your financial aid applications.
The process by which financial aid monies are released to your CUNYfirst student account to pay your tuition and fees. Funds not needed for tuition and fees will be refunded to you by check, direct deposit or value-added card.
Proof of the accuracy of the information submitted on your financial aid applications. Documentation can include any of the following: copies of federal or state income tax returns; proof of citizenship status; social security cards; proof of unemployment benefits; bank statements; business records; completed forms required by the Financial Aid Office and any other data needed to verify information submitted on your financial aid applications.
The classification you fall into based on the number of credits or equated credits for which you are registered and in attendance. At BMCC, you may have full-time (12 or more credits or equated credits) or part-time (fewer than 12 credits or equated credits) enrollment status. Part-time students can have an enrollment status of 3/4 time (9 to 11 credits or equated credits), half-time (6 to 8 credits or equated credits) or less than half-time (1 to 5 credits or equated credits).
The classification you fall into based on the number of credits or equated credits for which you are registered and in attendance. At BMCC, you may have full-time (12 or more credits or equated credits) or part-time (fewer than 12 credits or equated credits) enrollment status. Part-time students can have an enrollment status of 3/4 time (9 to 11 credits or equated credits), half-time (6 to 8 credits or equated credits) or less than half-time (1 to 5 credits or equated credits).
The amount of money you and your family can reasonably be expected to use toward paying for a college education. The EFC is determined by a formula established by Congress. The EFC is used to calculate the amount of your Federal Pell Grant and establish your need for other federal student aid program assistance (except for Federal Direct Unsubsidized or PLUS loans). If you are an independent student, you may be expected to use a portion of your (and your spouse’s, if married) income, other benefits and assets to finance your education. If you are a dependent student, you may be expected to use a portion of both your and your parents’ income, other benefits and assets to finance your education.
Awards from a combination of two or more financial aid programs (e.g., grants + work + loans = package).
The specific amount of money you need to attend college after your expected family contribution [EFC] has been subtracted from the cost of attendance. In general, families with the lowest EFCs have the greatest financial need.
The temporary suspension or altering of a previously agreed upon loan repayment schedule due to unusual circumstances or financial hardship and granted at the discretion of the lender. The lender is required to provide three year maximum annual renewable forbearance if your loan debt burden equals or exceeds 20% of your gross income.
Form used to apply for most types of federal financial aid, including PELL Grant, Direct Loans, and campus based aid. You must file a TAP-on-the-Web and a CUNY Supplement along with a FAFSA to apply for New York State financial aid programs. You may file a FAFSA and a TAP application electronically at the US Dept. of Education’s FAFSA on the Web site.
To be considered a full-time student, you must be enrolled in at least 12 semester credits or equated credits toward your degree.
A period of time after you cease to be enrolled in college at least half-time but before you start repaying your student loan.
Financial aid that does not have to be repaid. Grants can take the form of tuition assistance paid directly to the college on your behalf or a direct disbursement of money to you to help to cover other educational or living expenses. Grants can be awarded on the basis of financial need or academic merit.
The agency responsible for administering New York State’s educational grant, loan and scholarship programs to undergraduate and graduate students at institutions of post secondary education.
For federal financial aid you are considered financially independent if you meet one or more of the following criteria:
- you are 23 years of age as of January 1 of the award year
- you are married as of the day you file your FAFSA
- you are enrolled in either a master’s or doctoral degree or professional certificate program
- you are currently serving on active duty in the U.S. Armed Forces, or a National Guard or Reserves enlistee called into federal active duty for other than training purposes
- you are a veteran of the U.S. Armed Forces
- you have children who are receiving more than 50% of their support from you as of the day you file your FAFSA and will continue to receive that support through June 30 of the award year
- you have other dependents (not including your children or spouse) who are living with you as of the day you file the FAFSA, receiving more than 50% of their support from you, and will continue to live with you and receive that support through June 30 of the award year
- both of your parents were deceased, you were in foster care, or you were a dependent/ward of the court at any time after age 13 or older
- you are or were an emancipated minor as determined by a court in a state where you had legal residence
- you are or were in legal guardianship as determined by a court in your state of legal residence
- you were an unaccompanied homeless youth as determined by a high school or school district homeless liaison on or after July 1 of the current award year
- you were an unaccompanied homeless youth as determined by the director of an emergency shelter or transitional housing program funded by the U.S. Department of Housing and Urban Development on or after July 1 of the current award year
- you were an unaccompanied homeless youth (or an unaccompanied, self-supporting youth at risk of becoming homeless) as determined by a director of a runaway or homeless youth basic center or transitional living program on or after July 1 of the current award year
The Financial Aid Office may require you document your claim of independence under these conditions. If you do not fall into one of these above categories, but meet certain other conditions which can be documented, you may qualify to be independent for federal financial aid (discuss your situation with a financial aid counselor).
The definition of financial independence for TAP purposes differs from that used for federal programs.
If you are 22 years of age or under as of June 30 of the award year, you must report parents’ income in the TAP portion of your CUNY FAF unless you meet certain defined conditions established by New York State law that show you to be independent of your parents (refer to the application instruction booklet to see if you qualify).
If you are, or will be, 22 years of age as of June 30 of the award year, but are under age 35, you may be considered financially independent if, during the previous calendar year and for the two calendar years making up the academic year for which TAP is being requested, you have not (and will not have):
- been claimed as an exemption for income tax purposes by your parents (step parents or adoptive parents);
- received financial assistance of more than $750.00 from your parents (step parents or adoptive parents);
- lived in a building owned, leased or rented by your parents (step parents or adoptive parents).
If you are, or will be, 35 years of age as of June 30 of the award year, you are considered automatically independent for TAP purposes.
Money that you, the student, borrow and agree to pay back with interest by signing an agreement with the lender. Unlike personal loans, educational loans are generally easier to get and have special repayment and deferment options that make them attractive to the student borrower.
If you are taking fewer than 12 credits or equated credits, you are considered a part-time student. You must have a part-time course load of at least 6 credits or equated credits to qualify for most financial aid programs, although students with fewer than 6 credits may qualify for Federal Pell Grants.
In the Federal Work-Study program, the procedure by which you select, are interviewed for and placed on a job location.
The face value of a loan, or, the total amount that you borrow. Also, it’s the amount on which the interest is charged.
Demonstrating Program Pursuit means that you must receive completion grades in a minimum percentage of your coursework every semester TAP is received.
A financial aid grant based either on your scholastic achievement or financial need. BMCC has more scholarships than any other CUNY college.
If required by law, you must register with Selective Service before receiving any federal financial aid. You will be required to sign a statement indicating that you have registered with Selective Service or explaining why you are not required to register. The Selective Service registration requirement applies to males born on or after January 1, 1960, who are at least 18, are citizens or eligible non-citizens, and are not currently on active duty in the armed forces.
If you failed to register before reaching age 26, or believe you were exempt from registering, you must obtain a Selective Service Status Confirmation letter and submit it to the Office of Financial Aid.
Financial aid you either must work for or pay back.
Indicates that the college is excusing the student from a financial or academic requirement.
Financial aid you receive in the form of hourly wages from a job that you obtain through the Financial Aid Office. Work-study jobs try to give you practical experience in your field of interest or place you in community service work of some kind.
