NEWS and UPDATES -last updated May 26th, 2015
» Summer Aid Update
Summer aid applicants must apply for summer funds by July 15th. For more info please visit: Summer Aid Page
Summer loans will disburse in JULY if the following criteria is met:
- Loans have to be in ACCEPTED status on my.newpaltz.
- You must be registered for at least 6 credits and the classes must have started already. If one of your classes starts in August then your loan will not disburse until August.
- Your charges must be accepted on your invoice with Student Accounts (aka 'request a deferral').
- You must have a signed MPN and Entrance Counseling on studentloans.gov. Note- if these were done in a prior year then you won't have to do it again!
» When can students accept their aid offers?
Visit our web page here that outlines the timeline for aid recipients.
When do students receive their fall tuition invoice? Students receive an email notification after registering for fall classes (this would be after summer orientation for new students) to review and accept the charges on their semester bill via their my.newpaltz.edu account. Bills are electronic and will not be mailed home. Any aid you accept will automatically show as a credit on your bill.
» Changes to the Federal PIN
If you try to login to your FAFSA or studentloans.gov and notice a change in the login process, don't be alarmed! Effective April 25th, 2015 the U.S. Department of Education is phasing out the 4 digit FSA PIN and replacing it with an FSA ID. This new FSA ID will be comprised of a user-selected username and password, will replace the Federal Student Aid PIN as the process by which students, parents, and borrowers authenticate their identity to access their federal student aid information. No worries--- If you login to a federal student aid website after April 25th you will automatically be prompted to create an FSA ID. If you already have a PIN on file, you'll need to enter your PIN to create an ID. Don't remember your PIN? Simply go to pin.ed.gov and select 'request duplicate pin' to have it displayed on the screen. Once you create your new FSA ID don't forget to write it down somewhere safe so you don't forget!
Parents who want to borrow a Parent PLUS Loan will also need an FSA ID to complete the Parent PLUS Loan Request (the PLUS Request comes out on June 1st at studentloans.gov.)
» Prospective Freshmen
If you already filed your FAFSA then you can expect to get an estimated award letter from our office (a.k.a. shopping sheet) starting in late March. You should receive it via postal mail prior to Accepted Student Open House. If you have questions, bring the letter with you to Open House. We'll be happy to answer any questions you have!
In the meantime, please take a moment to review our site that outlines the freshman financial aid timeline.
» 3 Easy steps to filing for your FAFSA for 2015/16
1) Financial aid applicants and their parents should electronically file their 2014 federal income tax returns two to three weeks before the 2015-2016 FAFSA is completed.
2) Wait two to three weeks to have access to the IRS Data Retrieval Tool for your 2015-2016 FAFSA on the Web.
3) Complete the 2015-2016 FAFSA on the Web at www.fafsa.ed.gov using the IRS Data Retrieval tool. The FAFSA should be filed by the college's priority deadlines (3/1/15 for summer 2015 and 3/15/15 for fall 2015).
» It's almost that time!Will you need Financial Aid to Help Pay for College in Summer 2015, Fall 2015 or Spring 2016? If so, complete the 2015-2016 Free Application For Federal Student Aid (FAFSA) electronically at www.fafsa.ed.gov. Review our step-by-step guide: 2015-2016 How To Apply For Financial Aid On The Web.
•Summer 2015- the priority deadline for filing is March 1st 2015.
•Fall 2015- the priority deadline for filing is March 15th 2015.
•Spring 2016- the priority deadline for filing is October 1st 2016.
» Are you a first-time undergraduate at New Paltz for Spring 2015?
Make sure to view our Spring Checklist for new freshmen and transfers. Our checklists are the #1 resource for students to help get financial aid in order before the semester starts! It's also linked under Money - My Financial Aid when you log in to my.newpaltz.
» Questions about the verification process?
If you've been selected for verification and have not completed the process yet you can see what items are missing under my.newpaltz- My Financial Aid - Eligibility. You must satisfy the missing requirements so we can determine your eligibility and offer you an aid package. If you have questions on the process view our quick tips sheet or reference our verification page for more complete information.
» Loan Disbursements
Loans disburse mid-week on a rolling basis starting 1/28/15 for spring. Have your spring loans disbursed already? If not, make sure you've completed your loan requirements...
→If you accept a Direct Student Loan then you must login to studentloans.gov with your student federal pin and
- Complete Entrance Counseling for State University College at New Paltz
- Complete a Master Promissory Note for subsidized/unsubsidized loan
→If you accept a Direct Parent PLUS Loan your parent must complete a credit check REQUEST (our PLUS page has more details). To apply your parent must login to studentloans.gov with their parental federal pin (not the student's pin) and
- Click and complete Request a Direct Plus Loan to apply
- If approved, they will be asked to complete a Master Promissory Note for a Parent PLUS loan
» Award Offers for 14/15
The Office of Financial Aid has started sending award notifications via email starting April 2014! Packages are now being offered every Thursday evening (on a rolling basis) for 2014/2015. If your file is complete then look for an email notice to accept/decline your aid on my.newpaltz!
What's the deadline to accept/decline the award offers? There is no strict deadline as not everyone wants to borrow loans. But if you choose to borrow your loans you'll want to accept your aid before your invoice is due. Freshmen invoices get assigned after orientation and continuing students typically get their fall invoices in June. Your invoice will have a due date on it, so if you want loans make sure to accept them prior to your due date so they show as a credit. Our parent page has more information on this timeline or see our checklists to make sure you're all set for the year. Please know that if you decline your loans you can get them later in the year if you're still enrolled.
What if your aid hasn't been awarded yet? A third of the population gets selected by the Federal Processor for "Verification". If we notified you that you were selected for verification then you must finish that process before your file can be completed. Once verification is done then your aid will be offered within a two week window. More info on verification can be found here: What is Verification?
» Summer Aid Update
Do you know how summer aid works? View our summer page for all the details on how to apply. Application deadline is July 15th, 2015.
» Do you need help using the IRS Data Retrieval Tool on your FAFSA?
Make sure to view our helpful tutorial that walks you through the process >> DRT Tutorial
» Have you heard of the Governor's new STEM Incentive Program?
Read up on the proposed program guidelines here >> STEM Q & A
The application is not yet available, but hesc.ny.gov will update their website with more detailed program information after the NYS budget passes.
» Did you accept a PLUS loan?
Just like student loans, fall and spring semester Plus loans disburse once a week starting in early Sept for fall and late Jan for spring. But what if yours hasn't paid out yet? If it has not disbursed then it's likely that your parent still needs to complete the credit check application. These instructions help parents navigate the application process: PLUS REQUEST
NOTE: Signing a master promissory note is only part of the process. Parent borrowers must also click 'REQUEST A DIRECT PLUS LOAN' to complete the quick application and credit check on studentloans.gov.
» PELL GRANT CHANGES
Effective July 1st 2012, eligible students will be limited to receive Pell for a maximum of 12 full-time semesters (or the equivalent). You can read more about Pell Grant eligibility here: GRANTS