Financial Aid -> https://fafsa.ed.gov/
Financial aid is one of the most complex facets of college admissions. Qualification for need-based aid is determined through a variety of measures, and many schools offer some form of merit scholarship. These scholarships can vary in amount, and can make private college tuition more competitive with public college alternatives.
Types of Financial Aid
Your financial aid package will depend on your “financial need”, on your academic records, and on additional qualities. Three kinds of financial aid are available:
What is the FAFSA?
- The FAFSA is the Free Application for Federal Student Aid. The federal government uses it to determine your eligibility for federal aid, which includes grants, scholarships, work-study and loans.
What is an FSA ID?
- The FSA (Federal Student Aid) ID gives you access to Federal Student Aid’s online systems and can serve as your legal signature. Allowing you to you to: (1) electronically sign your FAFSA, (2) check the status of your electronic FAFSA, and (3) make any changes necessary to your personal information online
What is a SAI?
- The SAI is an index that is used to determine your eligibility for federal student aid
- Based on the asset and income information you list on the FAFSA.
- Your SAI is reported to you on your FAFSA Submission Summary if consent was provided.
- Families often need to pay more than this amount.
Some schools also use additional forms (CSS Profile) to calculate the family’s ability to pay for awarding institutional aid.
Whats New?
- The 2025–26 FAFSA form expands eligibility for federal student aid, including Pell Grants, and provides a streamlined user experience. 610,000 new students from low-income backgrounds will be eligible to receive Federal Pell Grants due to updates to student aid calculations. Plus, applicants will be able to skip as many as 26 questions, depending on their individual circumstances. Some applicants could answer as few as 18 questions, which could take less than 10 minutes.
What Happens After You Submit?
- When you submit your completed 2025–26 FAFSA form, you’ll get an email confirming that they received your form with preliminary information related to your eligibility for federal student aid. This will include your estimated Student Aid Index (SAI) and estimated eligibility for Federal Pell Grants.
- Federal Student Aid will provide your FAFSA eligibility information to your school(s) and state in late January, so you will have ample time to fill out the form and do not need to rush to complete the form during the soft launch. Once your school(s) receive your FAFSA information, they will provide you with personalized aid information in the coming weeks. Until your school(s) and state receive your form, they won’t be able to answer questions about your aid eligibility or status.- An email will be sent to you when your FAFSA information has been sent to your selected schools and when you can access your FAFSA Submission Summary on StudentAid.gov. The FAFSA Submission Summary will provide your official SAI calculation and Federal Pell Grant eligibility.
Read: Understanding Your Finances article to understand your finances before heading off to college.
Types of Financial Aid
Your financial aid package will depend on your “financial need”, on your academic records, and on additional qualities. Three kinds of financial aid are available:
- Grants: Financial awards which do not have to be paid back.
- College Loans: Financial awards made with a formal agreement for repayment with interest
- Work-study: A federally funded program that provides part-time employment to students to earn money for educational expenses.
What is the FAFSA?
- The FAFSA is the Free Application for Federal Student Aid. The federal government uses it to determine your eligibility for federal aid, which includes grants, scholarships, work-study and loans.
What is an FSA ID?
- The FSA (Federal Student Aid) ID gives you access to Federal Student Aid’s online systems and can serve as your legal signature. Allowing you to you to: (1) electronically sign your FAFSA, (2) check the status of your electronic FAFSA, and (3) make any changes necessary to your personal information online
What is a SAI?
- The SAI is an index that is used to determine your eligibility for federal student aid
- Based on the asset and income information you list on the FAFSA.
- Your SAI is reported to you on your FAFSA Submission Summary if consent was provided.
- Families often need to pay more than this amount.
Some schools also use additional forms (CSS Profile) to calculate the family’s ability to pay for awarding institutional aid.
Whats New?
- The 2025–26 FAFSA form expands eligibility for federal student aid, including Pell Grants, and provides a streamlined user experience. 610,000 new students from low-income backgrounds will be eligible to receive Federal Pell Grants due to updates to student aid calculations. Plus, applicants will be able to skip as many as 26 questions, depending on their individual circumstances. Some applicants could answer as few as 18 questions, which could take less than 10 minutes.
What Happens After You Submit?
- When you submit your completed 2025–26 FAFSA form, you’ll get an email confirming that they received your form with preliminary information related to your eligibility for federal student aid. This will include your estimated Student Aid Index (SAI) and estimated eligibility for Federal Pell Grants.
- Federal Student Aid will provide your FAFSA eligibility information to your school(s) and state in late January, so you will have ample time to fill out the form and do not need to rush to complete the form during the soft launch. Once your school(s) receive your FAFSA information, they will provide you with personalized aid information in the coming weeks. Until your school(s) and state receive your form, they won’t be able to answer questions about your aid eligibility or status.- An email will be sent to you when your FAFSA information has been sent to your selected schools and when you can access your FAFSA Submission Summary on StudentAid.gov. The FAFSA Submission Summary will provide your official SAI calculation and Federal Pell Grant eligibility.
Read: Understanding Your Finances article to understand your finances before heading off to college.
TAP: Tuition Assistance Program
TAP is a New York State tuition assistance program (whereas FAFSA is federal)
- complete TAP after you have completed your FAFSA information
- TAP will pull information from your FAFSA and allocate one New York State School. It does not matter which school appears during filing
- Once you have selected which school you will be attending, as long as it is a New York school, log back into TAP and designate which school that would be.
- TAP is a grant, it does NOT have to be paid back
New York State Excelsior Scholarship
The Excelsior Scholarship, in combination with other student financial aid programs, allows students to attend a SUNY or CUNY college tuition-free. The program covers tuition for eligible SUNY and CUNY students.
More information: https://www.hesc.ny.gov/pay-for-college/financial-aid/types-of-financial-aid/nys-grants-scholarships-awards/the-excelsior-scholarship.html
More information: https://www.hesc.ny.gov/pay-for-college/financial-aid/types-of-financial-aid/nys-grants-scholarships-awards/the-excelsior-scholarship.html
