General Information

If you are interested in federal loans or work-study eligibility, be sure to fill out a Free Application for Federal Student Aid (FAFSA) as soon as possible, if you have not already done so. The application can be found online at http://www.fafsa.ed.gov.

All forms of financial aid are awarded for one academic year (Fall and Spring). You will need to apply for need-based funding (including scholarships, loans and work-study) for the third semester. You will receive information on re-applying for financial aid in the Spring of 2008. In order to be eligible for any financial aid funding, you must maintain good academic standing (B average).

Below you will find information about the Federal and State financial aid funding options. The Graduate Center's Office of Financial Aid will be processing requests for funding. If you will be applying for Federal Direct Loans, a loan request form will be available through the Graduate Center’s Office of Financial Aid in the coming weeks. We will post it to the Admitted Student website when it becomes available.

Should you have questions or concerns about financing your academic program, please contact me so that we may discuss how to make this program possible. Feel free to email me at stephen.dougherty@journalism.cuny.edu or call (646) 758-7731.

The following information has been provided by the CUNY Graduate Center's Office of Financial Aid. Please feel free to contact the Office of Financial Aid at 212-817-1623 or financialaid@gc.cuny.edu with any questions or visit their Web site.

Federal and State Aid

In all cases, federal and state aid is based solely on financial need. Federal aid for graduate students includes Federal Direct Loans, Federal Perkins Loans, and Federal Work-Study. New York State provides the Tuition Assistance Program (TAP) for eligible graduate students who are New York State residents.

Federal aid is awarded directly through the Office of Financial Aid in accordance with requirements established by federal law. Federal aid requires a separate application, the Free Application for Federal Student Aid (FAFSA). Students who apply by the deadline for federal aid established each spring (usually in April) are considered for Federal Work Study Positions and/or Federal Perkins Loans for the upcoming academic year. Students interested in Federal Direct Loans may apply by submitting a loan application in addition to filing an FAFSA. First-time borrowers must attend a personal pre-loan interview before the loan is disbursed.

The New York State Tuition Assistance Program (TAP) is awarded directly by New York State. Students apply for TAP by first filing the FAFSA and then completing the follow-up application for the New York State program.

Federal Perkins Loan

Federal Perkins Loan awards are based solely on financial need as defined by federal law. The amount of the award will vary depending on the student's need and the availability of funds to a maximum of $6,000 for the academic year. Federal Perkins Loans are packaged each spring for the following academic year. Because Federal Perkins Loan funds are limited, only students who have their FAFSA on file by the deadline (April 30th) are considered for awards. The Federal Perkins Loan carries a 5 percent interest rate. No interest accrues while the student is enrolled at least half-time.

Repayment begins nine months after the student no longer registers at least half-time, withdraws, or graduates. The program offers liberal deferment privileges and some cancellation benefits for borrowers who enter certain public service careers and the teaching profession. The Graduate Center acts as lender of the Perkins Loan on behalf of the federal government, and the student repays the loan to The Graduate Center upon leaving.

A preloan interview is required prior to loan disbursement. An exit interview is required when the student no longer registers at least half-time, withdraws, or graduates. See The Application and Awarding Process

Federal Direct Student Loan

There are two types of Federal Direct Student Loan: the Subsidized Federal Direct Loan and the Unsubsidized Federal Direct Loan. Interest on both the Subsidized and Unsubsidized Direct loan is fixed at 6.8%.

Subsidized Federal Direct Loans are based solely on need as defined by federal law. Loan amounts will vary depending on the student's need to a maximum of $8,500 for the academic year. No interest accrues while the student is enrolled at least half-time. Repayment begins six months after the student no longer registers at least half-time, withdraws, or graduates. The program offers liberal deferment privileges. The federal government is the lender, and the student repays the federal government upon leaving school.

Unsubsidized Federal Direct Loans are not based on need. Loan amounts vary depending on the cost of the student's attendance less other financial aid and Subsidized Federal Direct Loan eligibility.

The combined maximum for the Subsidized Federal Direct Loan plus the Unsubsidized Federal Direct Loan is $20,500 for the academic year. Repayment of interest can begin immediately on the Unsubsidized Federal Direct Loan or can be capitalized (i.e., added to the loan principal) at the student's option. Repayment of loan principal begins six months after the student no longer registers at least half-time, withdraws, or graduates.

A pre-loan interview is required for first-time borrowers of Federal Direct Student Loans. An exit interview is required when the student no longer registers at least half-time, withdraws, or graduates. Students must have the FAFSA on file before they can be considered for this loan.

Federal Work-Study Program

Federal Work-Study awards are based solely on financial need as defined by federal law. The amount of the award will vary depending on the student's need and the availability of funds. Federal Work-Study awards are packaged each spring for the following academic year. Because Federal Work-Study funds are limited, only students who have their FAFSA on file by the deadline (April 30th) are considered for awards. Federal Work-Study assignments usually involve research in the student's program as assigned by the Executive Officer.

New York State Tuition Assistance Program (TAP)

New York State Tuition Assistance Program (TAP) awards are based solely on need as defined by New York State law. TAP awards are for residents of New York State only. TAP awards vary and may be applied only to a student's tuition costs depending on 1) the student's need and 2) the cost of tuition. New York State informs students directly of their TAP eligibility. The student must bring the award notice from New York State to the Business Office of The Graduate Center to receive the tuition bill credit of the award.