financial aid at mcny
Financial Aid Facts
FAFSA (Free Application for
TAP and FAFSA applications in Spanish
Esto es una nueva característica: Conexiónes de ayuda financiera en Espanol! Nosotros hemos agregado la sigiente conexiónes para ayudar a nuestras familias que hablan espanol en el proceso de ayuda financiera para la Universidad.
6 Easy Steps
Click here to download The 6 Easy Steps to Apply for Financial Aid
Education: Investing in Your Future
When it comes to increasing your earning power and job security, your education is the best investment in your future that you can make.
New York Higher Education Loan Program
Available for the Spring 2010 Semester, NYHELPs will help New York State students and family bridge the gap between college costs and State and federal student aid.
What is Metropolitan College of New York's federal school code?
Who do I call to check on my financial aid status?
How can I get an estimate of my federal aid situation?
What is auto-packaging for financial aid?
Where are the financial aid forms for students and parents to submit?
How do I submit the documents once I have them?
How long will it take to process my financial aid document?
What is the cost of attendance at MCNY College?
What are Origination Fees and the Up-Front Interest Rebate?
Subsidized and unsubsidized Federal Direct Loans have a 1.0% origination fee and also offer a 0.5% rebate on the origination fee, resulting in a net fee of 0.5% which will be deducted from the gross amount of the loan borrowed. Once you enter repayment and make your first 12 monthly payments on time, the rebate becomes permanent. If you fail to make 12 on-time monthly payments, however, a charge for the initial rebate will be added to the outstanding balance of the loan.
The Federal Direct PLUS Loan has a 4% origination fee and also offers a 1.5% rebate on the origination fee, resulting in a net fee of 2.5%, which will be deducted from the gross amount of the loan borrowed. The 12 on-time payment rule also applies to the PLUS Loan in order to keep the rebate.
Why is the cost of attendance lower for military students?
The HEOA specifies that, for students living in housing located on a military base or housing for which they receive a basic allowance under Title 37 of the U.S.C - Pay and Allowances of the Uniformed Services, the room and board allowance shall include an allowance based on the expenses reasonably incurred for board only.
Because the housing allowance is not required to be reported on the FAFSA, the housing allowance must be excluded as part of the cost of attendance. (The cost of attendance is an estimate of a student's educational expenses for the period of enrollment). All monies awarded (including loans, grants, scholarships and military tuition assistance) cannot exceed the estimated cost of attendance for a session. Effectively, the removal of your BAH lowers a student's cost of attendance figure.
I am not receiving a military housing allowance at this time. What should I do to have my cost of attendance adjusted?
If you can't find the information you are looking for, send us an email at and we will get back to you within 2 business days.
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