FINANCIAL AID

 

The Office of Financial Aid and Family Finance of Union College is located in Grant Hall. It is responsible for financial aid services to the students of Union Graduate College. Questions concerning eligibility for state and federal programs should be directed to the Office of Financial Aid and Family Finance of Union College at 

(518) 388-6123. Students may qualify for one or more of the programs listed below. The Office of Graduate Admissions and Registration has a Financial Assistant who will process loan disbursements.

 

FEDERAL SUBSIDIZED STAFFORD LOANS

Matriculated graduate students who are United States citizens or permanent residents may borrow up to $8,500 per year, if they qualify. The maximum aggregate Federal subsidized and unsubsidized loan is $138,000, including undergraduate loans.

 

Loans carry a fixed interest rate of 6.8%, which is deferred until six months after completion of studies or a drop in enrollment below half time. Students have up to ten years to repay. Eligibility is determined by completing a Free Application for Federal Student Aid (FAFSA – www.fafsa.ed.gov ),graduate financial aid supplement form, and submitting federal tax returns and other supporting documentation to the Financial Aid and Family Finance Office of Union College. Allow twelve weeks from start of the application process to receipt of the loan check. Loans are disbursed in at least two payments.

 

FEDERAL UNSUBSIDIZED STAFFORD LOANS

Matriculated graduate students are eligible for up to $10,000 per year if they qualify. The maximum Federal subsidized and unsubsidized loan is $138,000 including undergraduate loans.

 

Note: If the loan originally covers a term in which you do not enroll at least half time, a portion of the amount received must be returned to the bank. Students who withdraw from Union Graduate College must visit the Financial Aid Office for exit information regarding their loan. Upon graduation, this information session is required.

 

GRADUATE FEDERAL PLUS LOANS

A federal loan which historically only available to parents is now expanded to include graduate students.  It is based on a credit check and is fixed at 8.5%.  Please contact the Financial Aid office for more information.

 

FEDERAL WORK STUDY

Students who wish to participate should secure a form from the admissions office and submit to the financial aid office as early as possible.

 

POLICIES AFFECTING FINANCIAL AID ELIGIBILITY

 

Return of Title IV Aid

Under the Higher Education Amendments of 1998, Federal student aid (PELL, SWOG, and Direct loans) must be calculated for the students who withdraw from or stop attending all of their courses before completing at least 60% of the term. This calculation is required under the Return of Title IV Aid regulation. Class attendance is monitored throughout the term.

 

Official Withdrawals

If a student officially withdraws from all of his/her courses before completing at least 60% of the term, his/her financial aid will be recalculated based on the student’s withdraw date. The student’s recalculated aid will be based on the percentage of time he/she completed in the term. The percentage of financial aid eligibility will be directly related to the percentage of the term completed. For example, if a student completed 10% of the term, he/she will be eligible for 10% of his/her financial aid. If he/she completes 30% of the term, he/she will be eligible for 30% of his/her financial aid.

 

Unofficial Withdrawals

If a student does not formally withdraw from all of his/her courses but stops attending courses before completing 60% of the term, the student is considered unofficially withdrawn from the college and his/her financial aid will be recalculated under Return of Title IV Aid regulations. In the case of an unofficial withdrawal, the effective date of withdrawal will be the midpoint of the term.

 

Tuition Liability

If a student officially or unofficially withdraws after the end of the college’s refund period, the student is liable for all of his/her tuition and fees, even if the student’s financial aid is decreased.  If the student’s financial aid previously covered his/her bill, but no longer covers it after the Return of Title IV Aid calculation, the student will be expected to pay his/her outstanding tuition and fees.  Further, if the student receives a disbursement of financial aid, and the Return of Title IV Aid calculation shows the student was not entitled to the funds, the student will be billed for the funds, and the overpayment information will be forwarded to the U.S. Department of Education.

 

It will be the student’s responsibility to repay the funds before he/she is eligible to receive any further federal student aid, even if the student attends another college.  This overpayment will appear on the student aid report until the overpayment is repaid.

 

 

SUPPLEMENTAL LOAN PROGRAMS

Available to students attending Union Graduate College on a full or part-time basis.  Loan approval is based on a review of credit worthiness and ability to repay.  Loans are funded through private lenders and financial institutions such as Citibank, Sallie Mae, and Sallie Mae-MBA, and Bank of America.  Applications are available at the Financial Aid and Family Finance Office of Union College located in Grant Hall.

 

 

 

TUITION ASSISTANCE PROGRAM (TAP)

Full-time matriculated graduate students who are residents of New York may apply for TAP. Eligibility is based on New York State net taxable income. Graduate students may receive up to $550 per year. FAFSA forms are available at the Offices of Graduate Admissions and Registration and Financial Aid. In order to receive TAP, you must file a FAFSA application.

 

VETERANS ADMINISTRATION EDUCATIONAL BENEFITS

Students who are eligible to receive educational benefits under the various chapters administered by the V.A. may obtain more information by contacting the Office of Graduate Admissions and Registration at (518) 388-6295.

 

Entitlement will vary depending on the education program.

 

Students claiming veterans’ benefits are required to submit written monthly statements attesting to the fact that they are attending class. The following statement must be

submitted in person or by mail before the fifth of every month to the Office of Graduate Admissions and Registration, Attn: Veterans’ Benefits:

 

“I, the undersigned attest that I have regularly attended the classes for those courses in which I am currently enrolled.”

 

Any veteran not forwarding this statement along with their signature, will be decertified, resulting in the termination of benefits.

 

Students pay tuition and fees upon registering and subsequently receive benefit checks from the V.A. on a timely basis.

 

SCHOLARSHIPS AND FELLOWSHIPS

Below is a listing of available scholarships through Union Graduate College. Students interested in these should contact the specific programs for requirements, updates, and availability.

 

Athletic Assistant Scholarship

Scholarships are offered through the Athletic Director of Union College for up to one academic year. There are generally three scholarships per year available which carry 6 tuition waivers each.  Resumes and application are forwarded to Joanne Little in the Athletic Department.  They are reviewed annually. All fees are still required.

 

School of Education

A limited number of program fellowships or fee remission scholarships are available from the program. Other students who qualify based on financial need may receive some assistance in the form of tuition reduction through the graduate program. Application forms for graduate MAT assistantships are available from the School of Education office.

 

 

The Harriet and Roscoe L. Williams ’30 Endowed Scholarship

In memory of Harriet and Roscoe L. Williams, whose lives of dedication and service enriched schools and communities in the Dutchess County, Adirondack and Capital District regions of New York State. The Williams family supports scholarship assistance to highly qualified MAT graduate students preparing for careers in classroom teaching and educational administration in New York.

 

Computer Lab Assistantship

Tuition waivers are awarded to a qualified student to work in the Graduate Computer Lab in Lamont House.

 

School of Engineering and Computer Science

A limited number of one-year and/or partial year tuition scholarships are available for qualified full-time students. A limited number of stipends are also available. Most scholarships and/or stipends are associated with department assistanships or completion of a master’s thesis as part of the qualified applicants plan of study to complete his/her degree program. Applications are available from the admissions office.

 

School of Management

German Federation Exchange Program: Two full nine-course load scholarships are awarded in conjunction with the German Federation Exchange Program.

 

Full Time Students Merit Based Awards

Full-time MBA students are automatically considered for scholarships and need not fill out a separate scholarship form. As long as funds are available, scholarships are awarded starting in April and continue through August.  Criteria used is entering GPA and GMAT total score.

 

Accelerated BS/BA/MBA students who wish to qualify for merit scholarships must take the GMAT regardless of their grade point average at Union College. This scholarship cannot be awarded until the student has completed Union College requirements.

 

Many of the MBA Scholarship Awards are supported by alumni and donors. Recipients of these will be notified.

 

Part-time MBA Students

Students pursuing the MBA on a part-time basis will be considered for merit scholarships based on that portion of their tuition that is not reimbursable by an employer. Tuition waivers will be awarded from April to August. Students interested in being considered for part-time financial aid must inform the Director of Graduate Admissions at (518) 631-9835 and submit a copy of their employer’s tuition benefits policy with a letter requesting consideration.

 

International Students

International students will be considered for merit-based scholarships on an individual basis.