Summer 2015 Financial Aid Eligibility:
Only matriculated students qualify for federal financial aid. To be eligible for loan aid in the summer you must also have:
- a completed 2015/2016 FAFSA
- combined summer registration of 6 credits or more at New Paltz or an approved study abroad program through another 4-yr SUNY college
- a completed Summer Aid Application filed by July 15th, 2015.
How to Apply:
- File the 2015/2016 FAFSA at www.fafsa.ed.gov.
- Register for your summer classes.
- Complete/submit our: SUMMER AID APPLICATION. Deadline to apply is July 15th, 2015.
- Contact the Office of Student Accounts to obtain a deferral on your summer invoice if you intend to wait for the funds to pay your balance due. If you do not request a deferral then you'll need to pay your invoice by the due date.
Awarding/Disbursing of Summer Funds:
Aid packages will be awarded on/after May 1st for students who have complete FAFSAs (notifications via email). If you have already filed your Summer Aid Application by that time then you will be offered summer/fall/spring loans (see chart below). However, if you file the Summer Aid Application AFTER your fall/spring awards have been posted, then our office will revise your package to summer/fall/spring per your application request.
Make sure to accept your loans on my.newpaltz so that your summer aid get processed. 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 (request a deferral)
- You must have a signed MPN and entrance counseling on studentloans.gov (if these were done in a prior year then you won't have to do it again)
Student Loan Info:
Direct Student Loans have an annual 12 month loan limit. If you request summer loans your fall and spring loan aid will be reduced. You will be awarded 1/3 of your loan eligibility for summer.
This is an example to demonstrate how loans get allocated for a dependent senior undergraduate receiving $7500/yr. YOUR YEARLY LOAN AMOUNTS MAY VARY FROM THIS EXAMPLE:
|enrollment of at least 6 credits in....||SUMMER 2015||FALL 2015||SPRING 2016|
|Fall & Spring only||not enrolled||$3750||$3750|
|Summer / Fall / Spring||$2500||$2500||$2500|
|Summer & Fall only||$3750||$3750||not enrolled|
Parent PLUS Loan Info
If your parents want to borrow a Parent PLUS Loan for the summer you can write a note on your Summer Aid Application so our office is aware that you will be requesting those funds. Then, your parent will need to go to studentloans.gov after June 1st, 2015 to REQUEST A DIRECT PLUS LOAN for the summer term. Know that the PLUS credit check application on the federal website will not be available until June 1st. Step-by-step instructions on how to apply for PLUS can be found here: PLUS INFO
Pell Grant Info
All matriculated students who attend the summer term will be considered for a summer Pell payment if they have a Pell eligible EFC, regardless of the number of credits they are enrolled for. Pell payments will be prorated according to enrollment levels. Students should complete the Summer Aid Application to initiate the process of evaluating eligibility. Only students with complete FAFSA's on file can be considered. Summer Pell disbursements usually begin around the third week of July.
IMPORTANT: Please keep in mind that Pell awards received during the summer term will result in a reduced Pell for the following Spring semester as summer payments are taken out the academic year scheduled award.
DECLINING PELL: As explained above, summer Pell uses up some of your yearly Pell Grant eligibility. Because of this, some students choose to opt out of receiving summer Pell to save their Pell eligibility for fall and spring. If you would like to decline your summer Pell Grant you must complete the following form: Declination of Summer Pell Grant.
See our grants page for more info on Pell Grant eligibility.
TAP Grant Information
Under certain circumstances, you can receive a TAP award for summer study that is in addition to your annual TAP award. Such additional awards for summer study are considered "accelerated" TAP. To read up on accelerated study and eligibility requirements – visit hesc.ny.gov and search for 'summer tap'. Also, to be considered for summer TAP you must complete the TAP application on hesc.ny.gov.