What is financial aid?
Financial aid consists of scholarships, grants, loans or employment that is offered to students to help meet college expenses. Scholarships and grants need not be repaid; loans are borrowed funds which must be repaid with interest. Employment programs allow the student to earn money to help pay for school. Financial aid usually does not meet 100% of college costs since students and parents are considered the primary sources of funds for college. Financial aid is intended to help make up the difference between the educational costs and what the student and family can contribute toward the student's education.
Who can apply for financial aid? Will I qualify?
Financial aid is like snowflakes - no two students are alike! Whatever your financial situation, do not make the assumption that you are ineligible. You should apply for financial aid providing you are a US Citizen or an eligible non-citizen, have a valid Social Security number and are registered with Selective Service (males age 18 and over). The government will take into account family income, assets, size and the number of family members in college. Please notify Wagner in writing of any special circumstances.
How do I apply for financial aid at Wagner?
In order to qualify for federal or state funding, you must file the Free Application for Federal Student Aid (FAFSA) and your state's grant application, if applicable. Do not wait until you are admitted before filing the necessary forms! January 15th is the FAFSA priority filing deadline for prospective freshmen entering Wagner College.
What will prevent me from receiving financial aid?
Besides the obvious, not filing your applications and submitting paperwork in a timely manner, you must not currently be in default or go into default of a student loan. In addition, you must be maintaining satisfactory academic progress and be enrolled at least half-time (for most funds). Other items that may impact a student's eligibility are Selective Service registration and any drug convictions.
What are Wagner's Title IV and NYS TAP school codes?
The Title IV code, which is needed for FAFSA is 002899. Wagner’s NYS TAP code is 1040 for undergraduates and 5410 for graduate students.
Should I wait until after I've been accepted to Wagner to file financial aid applications?
No! You are encouraged to apply as early as possible, after October 1, since funds are limited and the federal and state application process may take up to 6 weeks.
What happens if I file my tax return after January 15?
It is recommended that prospective freshmen file the FAFSA by January 15 to ensure an Award Letter will be received before the May 1st deposit deadline. Upperclass returning students are encouraged to file by February 1st. You and your parent are strongly encouraged to utilize the IRS Data Retrieval Tool available when you complete your FAFSA online. This tool will allow you to import your tax information directly from the IRS.
What happens after I file my FAFSA?
Soon after mailing your FAFSA to the processing center you will receive a Student Aid Report (SAR). You should review the information for accuracy and submit any necessary corrections. The College will receive a copy of this SAR electronically and will use this information to determine what types of aid you may be eligible for upon your acceptance to the College.
How will I be notified of the types of aid I'm eligible for?
Around February 15th, the Admissions Office will notify prospective students in writing of any institutional grant or merit scholarship. If you have applied for federal or state aid, the Office of Financial Aid will create a package specifically for your family and notify you with an official Award Letter. This package will contain your institutional grant or scholarship and any federal and state aid for which you qualify. Returning students are notified of their aid eligibility after the end of the spring semester each year they file the FAFSA.
My SAR says I have been selected for verification. What does that mean?
Verification is a process whereby the government or school selects your application for review. This basically means that you must supply Wagner with the requested financial documents so the Office may ensure the information you submitted on your FAFSA is accurate. If you do not comply, you will not be eligible to receive federal funds. The Wagner College verification policy is available here. In addition, the verification worksheets may be found here.
Do I have to apply for financial aid every year?
Yes. If you want to be considered for federal or state aid, which includes grants and loans, you must apply as soon after January 1st as possible.
Will I receive the same amount of financial aid each year?
The institutional grant or scholarship you receive from the College will be renewed according to the provisions specified in your admissions contract provided you maintain satisfactory academic progress. Since your financial situation can change from year to year your awards may be affected. Your package will be evaluated annually to account for changes in income, family status, satisfactory academic progress and enrollment status. Special circumstances may arise during the time you are in attendance. Some circumstances may be taken into account through a request for special condition consideration. If your situation is listed on the form , please complete it and submit it to the Office.
I still owe a balance to Wagner after all of my aid has been applied. What do I do?
Keep in mind that financial aid will rarely cover 100% of your expenses. It is up to you and your parents to cover the remaining balance. How you do it is up to you. First, you should exhaust all options that involve "free money" such as scholarship searches . Discuss the situation with your parents and talk about any options there may be to pay the balance without having to borrow such as a Tuition Management Services payment plan. Only after all options are exhausted should you consider loans above what may already be included in your financial aid package. Whether you borrow an Alternative Educational Loan or your parent borrows a PLUS , it will be more expensive than paying the balance out of pocket as the loans involve interest and fees. If you need guidance, do not hesitate to contact the Office of Financial Aid.
What types of loans are available to finance my education?
The basic types of student loans are the Perkins, Federal Nursing Loan, and Stafford Loan. The student loans for which you may be eligible will be included on your Award Letter. Your parents may borrow a Parent Loan for Undergraduate Students (PLUS) up to the amount they would need to pay your cost of attendance. The PLUS is based upon credit and there are options available for those who are denied a PLUS, please contact the Office of Financial Aid for details. Alternative loans are private loans available to those who would need additional resources or would prefer to have the loan in the student’s name. The student is the primary borrower and a credit-worthy co-signer is needed.
My parents do not claim me on their tax returns and do not want to help me pay for college. Can I apply for financial aid as an independent student?
If you are under age 24, you are considered a dependent student by Federal definition. However, if you have unusual circumstances you should contact the Wagner College Office of Financial Aid for more information.
I am under age 24 and do not live in my parents' home. Do I still have to include my parents' information on the FAFSA?
Yes. You are still considered to be dependent even if living on your own unless you meet the criteria set forth by the federal government for independent students.
Is my information confidential?
Yes. All information submitted to the Office of Financial Aid is protected under the Family Educational Rights and Privacy Act of 1974 (FERPA) and is kept in the highest confidence. All files are kept in a safe and secure area accessible only to employees of the Office. Information is released to unauthorized third parties only upon receipt of a written release from the parent/student. All student employees of this Office sign confidentiality agreements to this effect and are trained to hold all data as private and confidential.
What if I need additional information?
You can e-mail the Financial Aid Office at firstname.lastname@example.org, call us at (718)390-3183 to speak to a representative or arrange an appointment, or fill out our financial aid request form to have information sent to your address.