Scholarships & Loans
There are many scholarship opportunities that may be available to you. Although this is vastly beneficial, it does require some research. Do not forget to visit my office! I am eager to help you understand your options.
The Excelsior Scholarship Explained:
Scholarships
- Scholarships are awarded by colleges, organizations, employers, banks, and community groups.
- They can be awarded for: academic achievement, ethnic or racial backgrounds, specific, personal characteristics, a specific area of competence, or an academic or career interest.
What is Required?
- Typically an application, person statement or essay, transcripts, test scores, and recommendations are required to apply for a scholarship.
- Some scholarships require a FAFSA, even ones that are not based on financial need.
The Excelsior Scholarship
- For the 2022-23 academic year, this scholarship program covers tuition for eligible SUNY and CUNY students whose family earned $125,000 or less during the 2020 tax year.
- Fees, room and board, and books are not included.
- Click the video on the left to learn more about the Excelsior Scholarship!
Loans
- A student loan is designed to help you pay for your post-secondary education.
- But remember, they must be payed back with interest!
Types of Loans
- Federal Loans: funded by the government. Includes:
Subsidized loans: made for eligible for undergraduate students who demonstrate financial need to help cover the costs of higher education; government pays interest until graduation.
Unsubsidized loans: made for eligible undergraduate, graduate, and professional students, but eligibility is not based on financial need.
PLUS loans: 'Parental Loan for Undergraduate Students'; loans made to graduate or professional students and parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid.
Consolidation loans: allows you to combine all of your eligible federal student loans into a single loan.
- Private Loans: made by a private organization such as a bank, credit union, or state-based or state-affiliated organization, and has terms and conditions that are set by the lender. Includes loans:
From a bank: This is not ideal though as rates tend to be higher.
From a College: In some cases colleges may recommend a loan.
How Do I Get a Loan?
- Make sure you complete your FAFSA form! This is an essential step in being eligible for federal aid.
Click the Federal Student Aid image above for more information on the amount of money you can borrow, why you should take out loans, and the next steps you should take.