Financial Aid

All students and prospective students are encouraged to apply for assistance. Each applicant should complete the Free Application for Federal Student Aid (FAFSA) by April 1. Please use the FAFSA link in this website to file your FAFSA online.  The six-digit school code is 007273.

International students are not eligible for federal and state assistance.

Once the FAFSA application is processed, a Student Aid Report (SAR) will be mailed to the student. The SAR must be submitted to the Financial Aid Office if it contains a comment that requires resolution, if the student is chosen for verification, or if the student receives a letter from the College asking him or her for additional information.

If the income has changed from information reported on the FAFSA, you may apply for an income adjustment. Students who wish to be considered for an adjustment must contact the Financial Aid Office and submit documentation of the decrease in income.

Students who apply by April 1 will be considered for federal, state, and institutional aid. Students who apply after that date may be eligible to receive assistance from TAP, the Federal Pell Grant Program, ACG or SMART Grants and Federal Family Student Loans. All other aid will be dependent upon the availability of funds.

Renewal applications may be sent to students who applied for federal aid the prior academic year. This form may be used in lieu of the FAFSA. Students may also apply via the Web. The address is www.fafsa.gov. The information reported on the FAFSA is subject to verification by the Financial Aid Office.

Who Is Eligible For Financial Aid?

FINANCIAL AID OPTIONS DESCRIBED ELIGIBILITY
In order to be eligible for federal and state aid, a first-time Baruch student must be a United States citizen or an eligible noncitizen. Students who have defaulted on a loan or owe a repayment of a grant at any postsecondary school must make repayment arrangements with that institution before they will be eligible for aid at Baruch.

States citizens, eligible noncitizens, and those international students possessing an F-1 or J-1 student visa who are matriculated and making satisfactory pursuit and progress toward a degree, as per federal guidelines, are eligible to apply for all programs of the Baruch Endowment Fund unless otherwise noted.

Only credits that are counted toward your degree will be used when calculating enrollment status for federal or state financial aid eligibility.  It is recommended that you either see an academic advisor or consult DegreeWorks to confirm that the courses you have registered for will qualify for aid.

CONTINUED ELIGIBILITY:

SATISFACTORY ACADEMIC PROGRESS
All recipients of financial assistance must be making satisfactory pursuit and progress toward a degree. There are two different formulas used to make this determination, one for state aid and another for federal and institutional aid.

SECONDARY CONFIRMATION OF ELIGIBLE NONCITIZENS
The federal government routinely verifies the eligibility of noncitizens by matching the alien registration number provided on the financial aid application with the Immigration and Naturalization Service (INS) records. The Financial Aid Office is required to submit copies of the alien registration and other appropriate documentation to the INS for anyone who appears as a nonmatch.

Financial aid eligibility cannot be calculated until this process complete
.
Calculating Student Aid Eligibility and Expected Family Contruibution

Most student aid is awarded on the basis of need, defined as the difference between the cost of education and the amount the family can afford to pay, which is know as "expected family contribution". The expected family contribution is determined by the federal needs analysis formula, which uses information provided on the financial aid application.  It considers family size, number in college, taxable and nontaxable indome and may consider the value of assets. 

Generally, financial aid eligibility is based on prior year income information.  However, if there is a change in the family financial situation, the student may be eligible to file for "Special Condition" consideration. Documentation of the change in circumstances must be submitted to the Financial Aid Office.

Copies of the federal needs analysis formula are available by writing to: Formual Book, Federal Student Aid Information Center, P.P. Box 84, Washington, DC 20044.

EFFECTS OF WITHDRAWING FROM CLASSES

If you withdraw from some or all of your classes, your financial aid may be effected. If you are receiving federal financial aid and withdraw from all of your classes, you may be required to return a portion of the money you received.  The portion of aid a student "earned" is calculated based on the number of days they attended.  A calculation is performed based on the number of days of  attendance and the Bursar returns the "unearned" aid to the federal government.  The Bursar will then bill you for the money that was returned on your behalf.  A hold will be placed on your transcripts and registration until the money is repaid.  Students who unofficially withdraw may be required to return all aid disbursed during the semester if they are unable to document attendance.  If you withdraw from, or never attend, some but not all of your classes, your federal aid may be adjusted to reflect your revised enrollment status. 

If you have applied for a student loan, and drop to below half time status before the loan is disbursed, you may not be entitled to th loan

New York State requires that you make satisfactory progress toward your degree for semesters supported by state aid (TAP or APTS). The number of credits you are required to complete will depend on the number of payments of state aid you have received.  You should consult the academic progress chart to determine the number of credits you are required to complete during a given semester to receive your next payment of state aid.

STUDENT BUDGET
A student budget is an estimate of the amount of money that it will cost a student to attend college. It includes tuition, fees, books, transportation, housing, and food expenses. Additional allowances may be made for unusual expenses, such as child care costs.

Student budgets are set each year by the University. They reflect the average yearly expenses of all students who are living with their parents or living away from their parents. These budgets may be adjusted only if an individual can document an unusual expense not incurred by the average student. Students with disabilities should speak to a financial aid counselor about budget adjustments for their special needs. The student budget determines and limits the total amount of aid recommended in the financial aid package. The current Baruch College budgets for full-time in-state undergraduates are as follows:

The current Baruch College budgets for full-time in-state undergraduates are as follows:

Tutition and Fees

ALLOCATION AND DISBURSEMENT OF FINANCIAL AID
Financial aid awards are applied to a student’s invoice in priority order at registration by the Baruch On-line Student System (BOSS). Students who do not want certain awards used for tuition or fees must put this request in writing to the Financial Aid Office.

Funds not used for institutional cost are distributed to students. The link to the Financial Aid check distribution calendar is available on the the Financial Aid home page and contains information on the disbursement dates for Pell, SEOG, College Work-Study, Perkins Loan,ACG Grant, SMART Grant and SEEK funds. Direct loans are disbursed by the Office of The University Controller. Students who wish to have their financial aid direct deposited must submit a direct deposit application.

FINANCIAL AID OPTIONS DESCRIBED

NEW YORK STATE/CITY FINANCIAL AID PROGRAMS

TUITION ASSISTANCE PROGRAM (TAP) - http://www.hesc.com
This grant is awarded to New York State residents who are enrolled full time in a degree-granting program and who meet the income criteria.

Continuing students are eligible to receive assistance from TAP programs if they complete a minimum number of credits the prior semester, complete the appropriate number of cumulative credits, and have the appropriate grade point average at the beginning of each semester of state-supported study. Please consult the charts in the section labeled " TAP Academic Requirements ", The link to the charts is found on the Financial Aid Home page. Only credits that may be applied toward your degree will be considered when calculating your enrollment status.  You may use DegreeWorks or consult an academic advisor to determine if the courses you have registered for will be counted when calculating your enrollment status.

Awards not to exceed tuition charges are made to dependent students and independent students with dependents whose New York State taxable income is $50,000 or less or to independent students with no dependents if the taxable income is less than $10,000.

Students may receive awards for eight semesters. SEEK students may receive awards for ten semesters.

A student with a disability that prevents attendance on a fulltime basis may be eligible to receive TAP while attending on a part-time basis. Please consult the Office of Services for Students with Disabilities.

AID FOR PART-TIME STUDY (APTS)
This award provides assistance to students who attend less than full time, have accrued a minimum of 6 credits (not equated), and have not exhausted their TAP eligibility. In order to be eligible, a student must be a New York State resident and enrolled for at least 6 credits.

Students are eligible to receive assistance from the APTS program if they complete a minimum number of credits the prior semester, complete the appropriate number of cumulative credits, and have the appropriate grade point average at the start of the semester.

CUNY STUDENT TUITION ASSISTANCE (CUSTA)
Students who are otherwise eligible for a maximum TAP award but whose award is reduced because they have received four semesters of payment may be eligible for a CUSTA award of up to $50 a semester.

NEW YORK CITY COUNCIL SCHOLARSHIP (VALLONE SCHOLARSHIP)
Students who are New York City residents and graduates of any New York City high school and who have earned a high school cumulative academic average of 80 or higher are eligible for this award. Recipients must enroll full time and maintain a B average (3.0). The amount of the award is $1,250 per year. The City Council must approve funding for this program each fiscal year.

CUNY HONORS COLLEGE
Admission to the Honors College is selective and is based on grades, SAT scores, and a full evaluation by the College Honors Committee. Honors College students have an educational account of 7,500, to be used over four years, and a laptop computer. The educational expense account is released to students after they have submitted a plan to use the funds to their advisor. Students are required to file a TAP application, and the Honors College tuition waiver may be reduced by the amount of the TAP award.

FEDERAL FINANCIAL AID PROGRAMS
A federal pursuit and progress standard applies to students seeking assistance from Pell Grant, Supplemental Educational Opportunity Grant (SEOG), Perkins Loan, Federal Family Student Educational Loans, and Federal Work-Study programs.

To be eligible to receive assistance from these programs, students, after their fourth semester of study, must complete a certain number of credits in relation to credits they attempted and have the appropriate grade point average at the beginning of the semester in which they are seeking payment. Students are eligible to receive federal assistance for the equivalent of six years of full-time study. Please consult the chart found in the Schedule of Classes.

Students who become academically ineligible to receive assistance from federal or institutional programs due to a documentable unusual circumstance may apply for a waiver of the academic pursuit and progress requirements. Applications for the waiver are available in the Registrar’s Office.

FEDERAL PELL GRANT PROGRAM
Grants ranging from $400 to $4,130 a year are awarded to United States citizens and eligible noncitizens. Recipients must be first-time undergraduates enrolled in a degree program who can demonstrate financial need. A first-time undergraduate is one who has not earned a bachelor’s degree or first professional degree.

Students may receive awards for the equivalent of six years of full-time study provided they are making satisfactory pursuit and progress toward a degree.

FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (SEOG) PROGRAM
Grants ranging from $100 to $4,000 a year are awarded to a limited number of United States citizens or eligible noncitizens who demonstrate extreme financial need as determined by the federal needs analysis formula. Recipients must be first-time undergraduates enrolled in a degree program and making satisfactory pursuit and progress toward a degree.

FEDERAL WORK-STUDY PROGRAM
Employment opportunities are offered to United States citizens and eligible noncitizens who demonstrate financial need. Recipients must be enrolled in a degree program and be making satisfactory pursuit and progress toward a degree. Recipients are offered the opportunity to work 20 hours a week at various types of jobs both on and off campus. The starting rate of pay is $5.50 an hour.

FEDERAL AID TO NATIVE AMERICANS
Awards are granted to applicants who are at least one-quarter American Indian, Eskimo, or Aleut and a member of a tribe, band, or group on record with the Bureau of Indian Affairs. In addition, the student must be enrolled full time in a degree-granting program and demonstrate need. For further information or to obtain applications, write to:

FEDERAL PERKINS LOAN PROGRAM
Loans are available to United States citizens and eligible noncitizens who demonstrate financial need. Recipients must be making satisfactory pursuit and progress toward a degree and have a minimum 2.0 grade point average. Eligible students may borrow up to $3,000 for each of their undergraduate years of study. The actual amount of the loan is dependent on the student’s financial need and the availability of funds. The maximum aggregate amount for an undergraduate is $15,000.

The current interest rate is 5 percent. Borrowers are charged interest beginning on the first day of the ninth month in which they are no longer enrolled for at least 6 credits. Repayment for new loans begins on the first day of the tenth month in which the borrower is no longer enrolled for 6 or more credits. The minimum monthly repayment is $40.

FEDERAL FORD DIRECT STUDENT LOANS
Loans are available to United States citizens and eligible non-citizens from both subsidized and unsubsidized programs. Recipients  must be making satisfactory pursuit and progress toward a degree and have a minimum 2.0 grade point average. Dependent freshmen may borrow $2,625; sophomores, $3,500; and juniors and seniors, $5,500 from a combination of the subsidized and unsubsidized programs. Independent freshmen may borrow up to $2,625 in a subsidized loan plus an additional $4,000 in an unsubsidized loan. Independent sophomores may borrow up to $3,500 in a subsidized loan plus an additional $4,000 in an unsubsidized loan. Independent juniors and seniors may borrow up to $5,500 in a subsidized loan plus an additional $5,000 in an unsubsidized loan. The amounts above are subject to change depending on the student’s need, budget, and other financial aid received. The aggregate amount a dependent undergraduate may borrow is $23,000. An independent student may borrow up to $46,000, of which $23,000 may be subsidized loans. Ford Loan interest rates are variable and are adjusted each year on July 1; however, the current maximum rate is 8.25 percent for subsidized and unsubsidized Ford Loans.

Subsidized Loans
Students may borrow up to the difference between Financial Need and their estimated or actual financial assistance, including veteran’s educational benefits. The amount of the loan may not exceed the pre-noted loan limits.

Interest on this loan is paid by the federal government for the period of time in which the student is registered for at least 6 credits and for the first six months after the student is no longer registered for 6 credits.

The student begins paying interest and repaying the loan on the day after the expiration of a six-month grace period that follows after he/she ceases to be enrolled for at least 6 credits.

Unsubsidized Loans
Students may borrow up to the difference between the Student Budget and their estimated or actual financial assistance, including veteran’s educational benefits and subsidized loans. The amount of the loan may not exceed the pre-noted loan limits.

Payments of interest are the responsibility of the borrower during the in-school and grace periods but may be allowed to accrue and be capitalized.

Repayment on the principal begins on the day after the expiration of a six-month grace period that follows after the borrower ceases to be enrolled for at least 6 credits. The student may choose to make interest payments immediately or defer them to the end of the grace period.

Students who are independent of their parents and are freshmen and sophomores may borrow up to an additional $4,000 in unsubsidized loans. Independent juniors and seniors may borrow up to an additional $5,000 in unsubsidized loans.

PARENT LOAN FOR UNDERGRADUATE STUDENTS (PLUS)
The parents of dependent students may take out a loan for as much as the total college expenses computed as the student budget. Parents must be U.S. citizens or eligible noncitizens and credit worthy. The student must be making satisfactory pursuit and progress toward a degree and have a minimum 2.0 grade point average. The actual amount that can be borrowed is the difference between the student budget and the estimated or actual amount of the student’s financial assistance, including veteran’s educational benefits and student loans.

Direct PLUS loan interest rates are variable, but the current maximum interest rate is 9 percent.

Repayment begins 60 days after the loan is disbursed, and interest begins to accrue immediately. The PLUS application is available from the Financial Aid Office. The student is required to file the FAFSA before the PLUS loan is processed.

Academic Competitivenes Grant

An eligible student may receive an Academic Competiveness Grant (ACG) of up to $750 for the first acdemic year of study and up to $1,300 for the second academic year of study.  To be eligible for each academic year, you must:

be a U.S. citizen
be a Federal Pell Grant recipient
be enrolled full-time in a degree program
be enrolled in the first or second year of your program
have completed a rigorus secondary school program (after January 1,2006 if a first year student and after January 2005 if a second year student
if a second year student, have at least a cumulative 3.0 GPA

National Science and Mathematics Access to Retain Talent (SMART) Grants

The federal Department of Education has created a new grant program for third and fourth year students who are majoring in math, engineering  or science.  An eligible student may receive a National SMART Grant of up to $4,000 for each of the third  and fourth academic year study.  To be eligible for each adacemic year, a student must:

lbe a U.S. citizen
be a Federal Pell Grant recipient
be enrolled full time in a degree program
be enrolled in a four year degree granting institution
major in physical, life or computer science, engineering, mathematics, technology or a critical foreign languare (defined as Arabic, Chinese, Japanese Hebrew and Semetic or Russian
have a cumulative 3.0 GPA on a 4.0 scale in the coursework required for the student's major

For the National SMART Grant Program, the amount of your grant, in combination  with your other financial aid may not exceed your cost of attendance.
The SMART Grant may be reduced by the U.S. Department of Education if sufficient funds are not available for all eligible students in an award year.

BARUCH ENDOWMENT FUND

Funds are available annually to full-time matriculated undergraduate students who have financial need. Awards vary depending upon need and the availability of funds. Baruch Grant recipients are required to meet the federal pursuit progress requirements, which involve grade point average minimums and the completion of a specific number of credits in relation to credits attempted. Please consult the chart found in the Schedule of Classes for more specific information.

Baruch Student Employment Program
Funds are available annually to full-time matriculated undergraduate students who are selected strictly on their ability to perform a job function. Baruch Student Employment workers are required to meet the federal pursuit and progress requirements, which involve grade point average minimums and the completion of a specific number of credits in relation to credits attempted. Please consult the chart found in the Schedule of Classes for more specific information.