How do I apply for aid?
The first step is to file the FAFSA and then apply for NYS TAP (if you are a NYS resident). View our step-by-step guide here. You should know that New Paltz determines need based on FAFSA information, therefor we do not require a CSS profile. Read more about our process here.
When do I get my award notice?
Freshmen & Transfers who apply by March will receive two award notices:
1-Preliminary award packages (aka standardized Shopping Sheet) for new freshmen get mailed home in late March. If we also include information stating that you were selected for verification, make sure to respond quickly so we can complete your file.
2- Actual award notifications get sent via email. These award notices start going out in early May (on a rolling basis) to students who paid their deposit and have complete FAFSA files. The email notification will advise the student to login to my.newpaltz to accept/decline the aid electronically. There is no deadline to accept the aid as not everyone wants to borrow loans. But it's a good idea to accept your aid right after Orientation if you intend to use aid to pay your bill. That way your aid will show as a credit on your billing invoice that will be due in August.
Email notifications of award packages begin going out in early May (on a rolling basis) for students with complete files. The email notification will advise students to accept/decline the aid on my.newpaltz.
How do I accept my aid?
This is done on my.newpaltz. The award notification email we send you will have instructions. Or you can see these navigation tips which outline the simple process of accepting aid online.
What happens after I accept my loans?
→Direct Student Loans -
New borrowers at New Paltz must complete a Master Promissory Note and Entrance Counseling at www.studentloans.gov. This can be done at any time, but it's best to complete this before the semester starts.
→Direct Parent PLUS Loan -
The student can accept a Parent PLUS Loan as part of their aid package on my.newpaltz. Our helpful PLUS PAGE (which you can also download/print) gives you all the info you need regarding the terms of the loans, and how to apply. The Parent PLUS Request Application comes out on June 1st every year, so we recommend you apply as soon as possible after June 1st so the approved loan will show as a credit on your bill! MUST SEE >> PLUS Loan Page
• The Parent PLUS loan is a federal loan in the parent’s name.
• The 2014/2015 interest rate is 7.21%. (rate for 15/16 not yet determined)
• There is an origination fee of 4.292% of the principal. The origination fee will be deducted from the loan prior to disbursement. Example: if you borrow $1000 in Plus, the origination fee will be applied... and $957 will get disbursed to the school.
• The PLUS loan requires an approved credit check. It is not a guaranteed loan and you can be denied due to negative credit. So apply as early as possible after June 1st! We highly recommend you view our PLUS PAGE. In short, you will visit studentloans.gov and login using the parent FAFSA pin then select 'REQUEST A DIRECT PLUS LOAN' to apply. This application must be completed each year that you want the loan. NOTE-You must have your credit approved before your loan will show on your New Paltz invoice.
• If a parent is denied a PLUS then the student can be offered additional unsubsidized student loan to help cover costs OR the parent can add a credit-worthy endorser to the PLUS app. Contact the Financial Aid Office at email@example.com if you've been denied and want to take out additional unsubsidized student loans.
Need help applying for PLUS? Call the Applicant Services Department at 800-557-7394.
Did I complete everything?
View our handy checklist to make sure you've completed all the steps.
When does my aid pay out?
→Direct student and parent loan monies will disburse starting the second week of the fall and spring semester.
→Pell grants are disbursed around the third week of the fall or spring semester.
→NYS TAP grants are typically disbursed after the mid-point of the fall and spring semester.
→Summer aid typically disburses in July.
If a student's finalized financial aid exceeds their charges, Student Accounts will issue a refund for the amount of the overpayment. Refunds get issued right after the award disburses per the above schedule. Students can get refunds direct deposited by setting up a payment profile (e-refund) within their My Student Account on my.newpaltz. Otherwise, students who live off campus will have their exchange checks mailed to them and on-campus students will receive notification to sign for their checks at the Office of Student Accounts (HAB 204). Please know that any refunds from a Parent PLUS Loan will not be directed deposited into the student's checking account. Instead, PLUS exchange checks always get mailed to the parent's permanent address.
Refunds are issued by The Office of Student Accounts. More info can be found on their website: EXCHANGE CHECKS
What are my other funding options?
Also, don't miss out on the available Federal TAX Benefits. We also encourage our students to empower themselves with financial literacy by signing up for their free SUNY Smart Track account. Click the portal below to begin!
STUDENT ACCOUNT (BILLING) INFORMATION:
Student's receive an email notification after registering for classes (after orientation for new students) to review and accept the charges on their semester bill via their my.newpaltz.edu.
Financial Aid Deferrals
Accepted aid will show as a deferral on the invoice. You will be responsible for any remaining balance due by the due date on your invoice.
You can pay online, by mail, in person, via drop box, by phone, or via EFT. See: Ways to Pay
Time Payment Plan
The New Paltz Time Payment Plan allows you to make installment payments toward your balance due for the cost of tuition, fees, and on-campus room/board during the Fall and Spring semesters. See: New Paltz Time Payment Plan
Are you trying to view your student's account information? Students have the ability to add the parent as an authorized user to view their account info. The student must login to my.newpaltz.edu and navigate to 'My Student Account to 'add an authorized user'. The parent will then receive an email with a link. That link will provide account information and the ability to make payments.
Billing questions you need answered?
Permission must be granted by the student to discuss account-specific billing information with a parent or guardian. See: Waiver for the Release of Information.
Visit the Student Accounts Home Page for additional information on tuition or billing.