Types of Aid

Federal Grants

The Pell grant is a federal grant with a maximum annual award of $5730. It is awarded to degree seeking students with an Estimated Family Contribution (EFC) of 5081 or less. The award is pro-rated for part-time students (3-11 credits). You must file a FAFSA in order to be considered for a Pell Grant. There is a maximum lifetime limit of 6 full-time Pell awards. More about the Pell Grant >

The SEOG Grant is a federal grant that is awarded by the campus. Students must be Pell eligible. Funds are limited and awards range between $100 and $200 per year. More about the SEOG Grant >

New York State Grants

TAP is a New York State grant with a maximum annual award of $5165 for dependent students and $3025 for independent students. The award is based on NYS taxable income and recipients must be New York State residents for 12 consecutive months prior to the start of the award year. Only full-time students (12 credits or more) are considered for TAP and a separate TAP application must be filed in order to be considered for a TAP award. More about TAP >

SUNY Tuition Credit is awarded to SUNY students who are TAP recipients. Award amounts are based upon the amount of your TAP grant.

Part-Time TAP is available to students taking 6-11 credits who were first-time, full-time freshman after 2006-07 and who have earned 12 credits or more with a C or better in each of two consecutive preceding semesters. More about Part-Time TAP >

Aid for Part-Time Study (APTS) is available to matriculated undergraduate students who are New York State residents enrolled for 3-11 credits for the fall or spring terms. A separate APTS application is must be completed at the Financial Aid Office and eligibility is based on NYS net taxable income. APTS Funds are limited. Award amounts provide up to $2,000 per year for part-time study (cannot exceed tuition charges). More about APTS >

Accelerated Studies (a.k.a. "Summer Tap") is an extra TAP payment in the award year, over and above the regular award, in certain circumstances. For terms beginning after January 1, 2007, students must earn 24 credits at SUNY Cobleskill in the prior two semesters to qualify for accelerated study.

Educational Opportunity Program Grant is available to students enrolled in the EOP program at SUNY Cobleskill. In order to be considered for the EOP program students apply as an incoming freshman during the admissions application process. Please contact the EOP Office at 5836 or visit their webpage for more information about the EOP program requirements.

State Assistance for Native Americans: Grants of $2,000 are awarded to high school graduates who are residents of one of New York's eight major reservations and who attend an approved post secondary educational institution in New York State. Information may be obtained by contacting the New York State Native American Programs, Room 543, New York State Education Dept., Washington Ave., Albany, N.Y. 12234.

Vocational Rehabilitation (ACCESS/VR):The New York State Office of Vocational and Educational Services for Individuals with Disabilities (VESID) provides program counseling and financial assistance for students who have certain physical, mental or emotional disabilities. Contact the nearest VESID for information, or write to the University of the State of New York, State Education Department, Office of Vocational Rehabilitation, Albany, N.Y. 12234.

State University Student Assistance (SUSTA) is available on a limited basis to matriculated full-time undergraduates with unmet need who meet NYS TAP eligibility requirements and have exhausted their annual direct loan limits.

Direct (Stafford) Student Loans

All Direct (Stafford) Student Loan recipients are required to complete Loan Entrance counseling AND a Master Promissory Note at www.studentloans.gov prior to the first loan disbursement. These will only need to be completed once while attending SUNY Cobleskill.

Direct Subsidized Loans are need- based loans available to undergraduates who are enrolled at least half-time in a degree seeking program. The student is not charged interest on subsidized loans while in school. The U.S. Department of Education is the lender, but loans are serviced by a third party. The interest rate for loans disbursed between 7/1/2014 and 7/1/2015 is 4.66%. For loans disbursed between 7/1/2014 and 11/30/2014 there is a 1.072% origination fee, and for loans disbursed between 12/1/2014 and 6/30/2015 there is a 1.073% origination fee. The loan amounts range from $3,500 to $5,500 per year depending on class standing. Students must file a current year FAFSA in order to be considered for a Direct Subsidized Loan.

*NEW* For first-time borrowers on or after July 1, 2013 there is a new limit on the maximum period of time that you can receive Direct Subsidized Loans. In general, you may not receive Subsidized Loans for more than 150% of the published length of your program. For example, if you are enrolled in a 2-year associate degree program then you are limited to a three year period for which you can receive subsidized loans. Please contact the Financial Aid office for more information regarding the new "150% Rule".

Direct Unsubsidized Loans are NOT need-based loans and they are available to undergraduates who are enrolled at least half-time in a degree seeking program. Unsubsidized loans DO accrue interest while student is in school. The U.S. Department of Education is the lender, but loans are serviced by a third party. The interest rate for loans disbursed between 7/1/2014 and 7/1/2015 is 4.66%. For loans disbursed between 7/1/2014 and 11/30/2014 there is a 1.072% origination fee, and for loans disbursed between 12/1/2014 and 6/30/2015 there is a 1.073% origination fee. The maximum annual loan amount for an Unsubsidized Loan is $2,000, however students may be eligible for $4,000-$5,000 in additional unsubsidized loans IF their parents are denied a Parent PLUS loan (see next section). A current year FAFSA is required.

Loan Limits
Direct loans are subject to annual and aggregate limits. Students cannot borrow more than their cost of attendance minus any other financial aid so some students may be eligible for less than the annual maximum amounts.



Important Information Regarding Direct Loan Repayment:
Direct Loans have a six month grace period after you leave school (or drop below half-time). Repayment begins at the end of the grace period, however interest on subsidized loans disbursed after July 1, 2012 will begin to accrue interest during the grace period.

More about Repayment >
More about Direct Student Loans >

Parent PLUS Loans

The Direct Parent PLUS loan is a credit based unsubsidized loan for biological, adoptive or step-parents of dependent students who are enrolled at least half-time in a degree seeking program. The interest rate for Parent PLUS loans disbursed between 7/1/2014 and 7/1/2015 is 7.21%. For loans disbursed between 7/1/2014 and 11/30/2014 there is a 4.288% origination fee, and for loans disbursed between 12/1/2014 and 6/30/2015 there is a 4.292% origination fee.

The parent cannot be in default of a federal student loan to apply. Parents can apply by submitting the PLUS LOAN REQUEST form to the SUNY Cobleskill Financial Aid Office or by applying directly online at www.studentloans.gov. The parent will "Sign In" using their FAFSA pin number and will select "REQUEST A DIRECT PLUS LOAN". More about the Parent PLUS Loan >

If approved, the parent will need to complete a Master Promissory Note at www.studentloans.gov

If denied, the College will be notified electronically and the student may qualify for an additional $4,000-$5,000 in unsubsidized loans.

Other Denial Options: The parents have the options of appealing the credit decision or adding an endorser to the loan request. The endorser must request their own federal pin number and must be willing to repay the loan if the parent defaults.

Perkins Loans

All Perkins Loan recipients are required to complete a Master Promissory Note at http://slsc.albany.edu prior to the first loan disbursement. These will only need to be completed once while attending SUNY Cobleskill.

The Perkins Loan is a federal campus-based loan that is offered to students with substantial need (continuing students must have a 2.0). Funds are limited so all eligible students cannot be guaranteed a Perkins Loan. Loan amounts range from $500 to $1500. The Perkins Loan does not accrue interest while the student is in school and repayment doesn't begin until nine months after leaving school. The interest rate on Perkins Loans is 5%. More about the Perkins Loan >

Questions regarding Perkins Loan repayment should be directed to the Student Loan Service Center at (518) 525-2626.

Work Study

Work Study is a federally-funded program offering employment opportunities to eligible students. Students must indicate an interest in work-study when they complete their FAFSA application. Funding is limited and priority consideration is given to income eligible students who file their FAFSA by February 15 (continuing students must also have a 2.0). Students who are offered work study must accept the award in Bannerweb by the beginning of the semester or the award will be cancelled. Please note that a Work-Study award is an opportunity, not a guarantee of employment. It is the responsibility of the student to review available work study positions on the employment website and apply to the departments directly. Please approach work study with the professionalism and maturity as other job searches. The departments will select work study employees whose skills and work ethic align most closely with the department needs.

Important Work Study Facts:
- Work study does not apply directly to the student's bill
- Work study earnings cannot exceed the amount of the original award
- Students have to find their work-study job
- Students cannot start work until all the payroll paperwork is complete and turned into the payroll office

Scholarships

SUNY Cobleskill Scholarships
The College offers scholarships to new and returning students on a limited basis. An application for returning students is made available each April, however meeting the scholarship criteria does not guarantee that a scholarship will be awarded. Apply for a returning student scholarship (between April 1 and May 15) >

A complete list of returning student scholarships can be viewed on Coby Connection.

Outside Scholarships
Many students receive scholarships from outside sources. If you receive financial aid, it is very important that the College be notified of any scholarships that you receive from external donors to avoid overfunding (which could lead to a reduction in aid after your bill is paid). View External Scholarship Resources >

Alternative Loans

Alternative loans are credit based loans that are offered by banks and other private financial institutions. They are ideally used to finance the remaining cost of a student's education when all other forms of financial aid have been exhausted. Not all students will credit qualify for an alternative loan and most lenders will require a co-signer. SUNY Cobleskill strongly encourages you to complete your FAFSA in order to fully utilize all available federal direct student loans before pursuing an alternative loan.

For a list of financial institutions that provide alternative loans to our students, please click here. Please note that this is not an all inclusive list and students are encouraged to thoroughly research and understand the loan terms for the lending institution that they select.

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