Who do I call to check on my financial aid status?
MCNY students may check with the Financial Aid Office at (212) 343-1234, ext. 5004.
How can I get an estimate of my federal aid situation?
This Financial Aid Estimator will give you an estimate of your Expected Family Contribution (EFC). It will also give you an estimate of your financial need. Both of these are the basis for how schools award federal aid.
What is Metropolitan College of New York's federal school code?
What is a Financial Aid Award Letter?
A financial aid award letter is a document that is produced after the Office of Student Financial Services has put together all of your scholarships, loans and grants together. This process is called packaging a student. This is usually done after the Office of Financial Aid has received the student's FAFSA (Institutional Student Information Report) results. The award letter outlines all types of funds awarded to the student. An award letter can be requested via email or picked up on campus. During the course of the semester the award letter is sent electronically twice, during the first week of the semester and during the fifth week of the semester, after the “add and drop” period has ended. Also, the anticipated aid can also be accessed through Self-Service. The award letter helps students understand what type of funds student are getting and if there is enough to cover Tuition and Fees.
Where are the financial aid forms for students and parents to submit?
The financial aid forms for students are on the Office of Student Financial Services’ section of the MCNY website at http://www.mcny.edu/financialaid/finforms.php
How do I submit the documents once I have them?
Print the documents and fill them out. Then you can mail or fax them to the Office of Student Financial Services. Our address is 431 Canal Street, New York, NY 10013 and our fax number is 212-625-2072. You can also bring the documents in or scan and email them to .
How long will it take to process my financial aid document?
The general turnaround time for processing financial aid documents submitted to MCNY is normally 10 business days. This processing period will likely increase during peak times, such as the beginning of a new school year, or decrease during periods of lower volume. Students are encouraged to submit documentation as early as possible. Additional supporting documentation may be required after the initial review.
What is the cost of attendance at MCNY?
The cost of attendance for a student is an estimate of that student's educational expenses for the period of enrollment. Every program's cost is different, so please carefully review the Cost of Attendance section of our website.
What are Origination Fees and the Up-Front Interest Rebate?
Origination fees are a percentage fee associated with federal loans that are between 1-4%.
Subsidized and unsubsidized Federal Direct Loans have a 1.0% origination fee which will be deducted from the gross amount of the loan borrowed.
The Federal Direct PLUS Loan has a 4% origination fee.
Why is the cost of attendance lower for military students?
Effective July 1, 2010, the Higher Education Opportunity Act (HEOA) implemented a change that affects military students. Specifically, the HEOA, section 471 HEA Section 472(3) states:
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. Effectively, the removal of your BAH or Basic Allowance for Housing 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?
Please send a request to have your cost of attendance reviewed for adjustment. Be sure to provide the reason you are no longer receiving a military housing allowance along with this written request. All requests should be sent to
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