Many students and parents become frustrated over the financial aid process.

Financial aid does not have to be complicated. There are many resources to help you. The most important resource is the college itself. Every college has a Financial Aid office with experienced professionals that are available to answer your questions. Remember it is their job to see that each student can afford to go to their college.

Scholarships

Scholarships do not have to be paid back! This money is given to you to offset the cost of a college education. There are many places to look to see if you are eligible for a scholarship. Check these sites for more information.

Fastweb Free Scholarships

Grants do not have to be repaid either. Everyone is encouraged to fill out the Free Application For Financial Aid Application. This application is required by most colleges to determine what financial aid you would be eligible for.

FAFSA on the web New York State TAP

Loans

Subsidized Federal Stafford Loan

Payment of principal and interest begins 6 months after the day you graduate or are enrolled less than half time. Repayment should be completed within 10 years, depending on the amount borrowed. However, extended payment plans, graduated repayment and deferments are available through you lender or loan servicer. Interest rate changes every year.

Unsubsidized Federal Stafford Loan

You are responsible for interest from the time you receive your first unsubsidized loan funds. Payment of both principal and interest begins 6 months after the plans and deferments are available. Interest rate changes every year.

Federal PLUS Loans

The interest rate changes every July 1. Interest begins to accrue from the time the loan is fully disbursed. Repayment of the amount borrowed plus interest generally begins within 60 days after the full amount of the loan is disbursed. Deferments are available to eligible borrowers through your lender or loan servicer.