All prospective and returning students who are interested in receiving financial aid must apply for financial aid every year.

1. Complete the FAFSA (Free Application for Federal Student Aid) .

2. Complete the NY State Express TAP Application (ETA). YOU MUST BE A NEW YORK STATE RESIDENT TO APPLY.

IMPORTANT: The FAFSA is the application for all federal financial aid. The TAP application is for all state financial aid. If you only complete one of the forms, you have not applied for the other.

3. If selected for verification (the SAR, Student Aid Report, will tell you if you have been selected), submit signed copies of the applicant and parents'/spouse's most recent Federal Tax Return, Verification worksheet, and Statement of authorization of changes. (The Verification worksheet and Statement of authorization of changes can be obtained through the Office of Student Financial Services).

4. Complete Payment Plan/Promissory Note Agreement per semester enrolled.

Mid-year transfer students must submit Financial Aid Transcripts from each institution previously attended, even if the applicant did not receive financial aid while attending that institution.

ELIGIBILITY

Students must enroll in a degree granting program to qualify for federal and/or state aid. Part-time students (those registered for less than 12 credits) will qualify for fewer forms of aid. To apply for loans, a student must enroll for a minimum of 6 credits. Satisfactory academic progress toward a degree must be maintained in order to continue receiving assistance. The academic standards vary between state, federal and institutional grants but most list minimum grade point average (GPA) requirements. Students may speak with Financial Services representatives or refer to financial aid application materials for more details. Throughout the academic year, changes may occur to a student's award package due to enrollment changes, satisfactory academic progress, GPA concerns or any extrenuating circumstances. The Office of Student Financial Services reserves the right to review the awards and make adjustments as needed.

NYACK COLLEGE SCHOLARSHIPS

The Nyack College Scholarship Committee annually awards a number of scholarships to worthy students. These awards are made under the terms of private donors, as well as in accordance with general eligibility requirements established by the Scholarship Committee relative to academic achievement and financial need.

NYACK COLLEGE NCMC GRANTS 2005-2006

NC/ATS, NYC offers the following grants to qualifying students for the academic year 2004-05. These grants are funded by the college and are available to students matriculating for the first time after July 1, 2004 and enrolled full-time in the undergraduate program. Figures listed are per semester amounts.

Unless otherwise stated, a grant is renewable for up to eight semesters by maintaining a minimum 2.50 cumulative grade point average (GPA). Scholarships lost due to low grades may be reinstated by appealing to the Office of Financial Aid if at any point a student regains the minimum necessary GPA.

Recipients must apply for and use all available federal, state, and local government grants. Students are eligible for up to $1,500 per semester in NC/ATS, NYC Grants.

Bible Institute Grants of $500 are awarded to students who have attended a Bible Institute diploma program.

Church Participation Grants of $500 are given to any student enrolled for 6 or more credits per semester and who is currently involved in the ministry of a church. A letter of verification from the church’s pastor is required.

Continuing Education Grants of $1000 are awarded to students with 18 or more transfer credits. This grant extends to a maximum of four semesters.

International Travel Grants of $1,000 are awarded to students with non-citizen, non-resident status.

Metro NJ Grants of $1000 are for students who have an address in Essex, Hudson, or Union County as their primary residence.

Ministerial Dependent Grants of $500 are provided to dependents of ministers or missionaries. The recipient must be a dependent of a person who is licensed and/or ordained and currently on a church, district, or missionary staff and whose major source of income is paid by  a church, district, or missions board. The Office of Admissions will provide a verification form. This form is to be filled out by the minister and verified by the church, district, or board treasurer.

Music Achievement Grants are awarded in various amounts to new students who demonstrate talent in music based upon an audition before music faculty.  Participation in practices and various NC/ATS, NYC performances is required to receive and renew these grants.

National Honor Society Grants of $1000 are awarded to all incoming Freshman who are active members of a National Honor Society chapter in their high school.  Minimum cum GPA of 3.0 is required for award renewal.

Nyack Scholars Program awards a grant based on high school GPA and SAT/ACT scores.  This grant is offered only to first-time Freshman and is renewable if the student maintains a 3.0 cum GPA.  Failure to meet GPA requirement will result in the loss of the grant.  If student regains GPA at any point, appealing of the Office of Student Financial Services may reinstate eligibility.

NYC Residents Grants of $1,000 are for first semester freshmen (students with fewer than 18 transfer credits) who have a New York City address as their primary residence.

Part-Time Study Grants of $500 are available to students enrolled for between 6 and 11 credits per semester. A part-time study grant may be combined with the Church Participation Grant if applicable.

Regents Scholarships of $500 are awarded to incoming students who earned a New York State Regents high school diploma.

Sousa Awards in the amount of $2000 are given to incoming Freshmen who have been recipients of Sousa Music Award.

Citi-Assist Loan from Citibank
A non-Federal student loan with no fees and flexible repayment options. Call 1-800-745-5473 or pick up an application in the Nyack College Office of Student Financial Services.

TITLE IV PROGRAMS (FEDERAL AID)

Eligibility for these programs is determined by the Free Application for Federal Student Aid (FAFSA). This application will require school codes, entitled Title IV, for each college or university the applicant is interested in attending. Nyack College's Title IV code is 002790. After completing the FAFSA, a Student Aid Report (SAR) will be sent to the applicant. The applicant must read through the report to verify that the information on the SAR is complete and correct. If the student lists Nyack College on the SAR, the Office of Student Financial Services will receive the information electronically, in a report called the Institutional Student Information Record (ISIR). Once Nyack College has received the ISIR, and the student is accepted by the Office of Admissions, a financial aid package will be created.

YOU CAN NOW PROCESS YOUR FAFSA ON THE WEB, AT WWW.FAFSA.ED.GOV

FEDERAL AID AVAILABLE

Federal Pell Grant: This Federal grant is designed to provide financial assistance to needy students. The amount of the award is determined by the federal government on the basis of the student's Expected Family Contribution (EFC), as indicated on the SAR.

Federal Family Educational Loan Program: This a need-based loan, guaranteed by the federal government. The federal government pays the interest as long as the student is taking 6 credits. Once the student graduates or ceases to be enrolled with at least 6 credits, he or she has a 6-month grace period before repayment begins and interest starts to accrue.

Unsubsidized Stafford Loan: This is a non-need-based loan, guaranteed by the federal government. This loan is not subsidized by the government, and the interest on this loan will start to accrue immediately. Principal payments may be deferred until 6 months after graduation or when the student drops below 6 credits. This loan provides additional funds to students who do not qualify for other financial aid or who need additional money to meet their educational expenses.

Parent Loan for Undergraduate Student (PLUS): Eligibility is restricted to parents borrowing for dependent students enrolled at least half-time (6 credits). Approval for a PLUS loan is determined by the parent's credit worthiness. Repayment begins 30 days after the loan is disbursed. Contact the Student Financial Services Office for more information and/or and application.

Dependent Students
Subsidized
Freshman.......$2625
Sophomore.....$3500
Junior.............$5500
Senior............$5500

Independent Students
Subsidized and Unsubsidized
Freshman.......$6625
Sophomore.....$7500
Junior..........$10,500
Senior.........$10,500

STATE ASSISTANCE FOR NEW YORK RESIDENTS