815 North Broadway
Saratoga Springs,
New York, 12866
SKIDMORE PHONE
518-580-5000
Student Aid Programs and Financing Options (continued)
NEW YORK STATE PROGRAMS
Students who receive Tuition Assistance Program (TAP) assistance
from New York State for the first time must meet the requirements
below for academic performance and progress toward the degree.
Failure to meet these standards results in the termination of
financial assistance from New York State. Skidmore College does
not substitute its resources for funds that are withdrawn by
New York State.
New York State Requirements
A Skidmore College student must be registered for a minimum
of twelve semester hours of credit in the fall semester and
a minimum of twelve semester hours of credit in the spring semester,
and must meet the following regulations, established by the
state Board of Regents, in order to remain eligible for payments:
Approved Program—a student must
formally declare a major not later than the beginning of
the junior year.
Program Pursuit—a student must
receive a passing or failing grade in a minimum of:
six semester hours in each semester
of study in the first year in which an award is made;
nine semester hours in each semester
of study in the second year in which an award is made; and
twelve semester hours in each semester of study in each succeeding year.
Grades of W (withdrawal) or I (incomplete) will not satisfy
this requirement.
Academic Progress—students must meet the college's
minimum standards for continuation,
as outlined in the Academic Standards and Review section of this catalog.
For the purpose of federal student financial assistance, including
the Federal Pell Grant, Federal Supplemental Educational Opportunity
Grant, Federal Work-Study, Federal Perkins Loan, and Federal
Stafford Loan, the minimum standards of academic progress must
also be achieved.
Waiver of Pursuit of Progress and/or Satisfactory Academic Progress
Requirements for Receipt of State Financial Aid
A Skidmore student who does not maintain
either the Program Pursuit or Satisfactory Progress standards
may qualify for a one-time waiver if:
the student can document that the reason for the failure
to maintain standards was as a result of an extenuating medical circumstance which can be documented; and
the student receives permission for such a waiver from the
Committee on Academic Standing.
A waiver is not automatically
granted for any student and is not intended to provide an additional
semester of aid to a student who has used poor judgement or
has been academically irresponsible. Procedures for granting
waivers follow the institution's established academic review
process. Documentation of the extenuating circumstances will
be maintained in the Registrar's Office. Students will be expected
to meet prescribed standards thereafter.
Tuition Assistance Program and
Supplemental Tuition Assistance Program
The Tuition Assistance Program (TAP)
is an entitlement grant program for New York State residents
attending a postsecondary institution in the state.
Undergraduate students are eligible for up to four years of
assistance for full-time study or up to five years in certain
programs. Undergraduate students who are educationally disadvantaged
and require remedial courses may be eligible for up to one additional
year of aid. Graduate or professional students may also receive up
to four years of TAP for a combined undergraduate-graduate total
of eight years.
To be eligible, the student must:
study full-time (twelve credits per
semester) at a college or school in New York State;
meet income requirements;
be a resident of New York State;
be either a U.S. citizen, permanent resident alien, refugee, or conditional entrant;
be matriculated in an approved program and be in good academic standing;
be charged a tuition of $200 or more per year; and
have no debt from a defaulted student
loan for which a satisfactory repayment plan has not been
established.
Awards vary according to tuition and
New York State family, net-taxable income. The award, including
any other state award, cannot exceed tuition. Undergraduate
awards for financially dependent students and for financially
independent students who are married or who have tax dependents
range from $500 (income of $80,000) to $5,000 (income of $7,000
or less) at degree-granting institutions.
The award is based on the prior year's New York State family,
net-taxable income. Family net taxable income means income (less
deductions and exemptions) of the student, parents, and student's
spouse, if any.
There is an adjustment to income if one or more other dependents
are also full-time postsecondary students in or out of state.
For one additional dependent student, $3,000 is subtracted from
net taxable income. For each additional dependent student, another
$2,000 is subtracted. Net taxable income after any adjustment
becomes net taxable balance. Net taxable balance is used to
calculate the award.
If the student is financially independent of the parents, the parents'
income is not used. The award is based on the student's (and
spouse's) income. Financial independence is granted to:
students age 35 or older;
students age 22 to 34
who have not been claimed as a tax dependent for two years
and have neither lived with their parents nor received more
than $750 yearly from their parents for three years; and
undergraduates under age 22
who meet the above conditions and certain very specific
additional conditions.
The student must submit a Free Application
for Federal Student Aid (FAFSA) and have a Tuition Assistance Program
(TAP) application on record with the New York State Higher Education Services Corporation.
A federal program, these scholarships are awarded to academically
talented high school seniors who plan to attend an institution
of higher education in the United States. Scholarships are awarded
by the state Education Department based on SAT or ACT scores
and high school grades. Award winners receive one payment of
$1,500. The scholarship is nonrenewable.
Paul Douglas Teacher Scholarships
Formerly designated as Congressional Teacher Scholarships, these
are awarded to outstanding high school graduates to pursue teaching
careers at the elementary or secondary level in one of the following
shortage fields: mathematics, science, bilingual education,
teaching English to speakers of other languages, foreign languages,
occupational education, and teaching children with handicapping
conditions. Scholarships are awarded by the state Education
Department to students who graduate in the top 10 percent of
their high school class. Award winners may receive up to $5,000
per year. Upon completion of study, recipients must teach at
the elementary or secondary school level for two years for each
year of assistance. Recipients who teach in elementary or secondary
schools with high concentrations of economically disadvantaged
students or handicapped children or children with limited English
proficiency are obligated to teach only one year for each year
of assistance. Recipients who fail to complete a service obligation
must repay the award and any interest penalty. Study must be
at a college or school in New York State.
The Aid for Part-Time Study (APTS) program provides awards of
up to $2,000 (or tuition, whichever is less) for New York State
residents studying part-time in an undergraduate program at
participating degree-granting schools in New York State. Recipients
apply to and are selected by the participating institution.
To be eligible, the student must:
be a resident of New York State;
if claimed (or eligible to be claimed)
by parents as a tax dependent, have a New York State net-taxable
family income lower than $50,550;
if not eligible to be claimed as a
tax dependent by parents, have a combined (student's and,
if married, spouse's) income not in excess of $34,250;
not have exhausted Tuition Assistance Program eligibility;
be matriculated in an approved undergraduate
degree or certificate program at a participating institution;
be enrolled for at least three but
less than twelve credits per semester, or at least four
but less than eight credits per quarter or the equivalent;
retain good academic standing; and
have tuition of at least $100 per year.
Vietnam Veterans Tuition Awards (VVTA)
Vietnam veterans who are New York State residents are eligible
for an award to help pay the tuition at an undergraduate degree-granting
institution or in an approved vocational program in New York
State. Awards are $1,000 per semester or tuition, whichever
is less, for full-time study (twelve or more credits), or $500
per semester or tuition, whichever is less, for part-time study
(three to less than twelve credits). If a Tuition Assistance
Program award is also received, the combined academic year award
cannot exceed tuition. To be eligible, the student must:
have served in the U.S. armed
forces in Indochina between January 1, 1963, and May 7,
1975;
establish eligibility by applying to
New York State Higher Education Services Corporation (NYSHESC)
on or before September 1, 1990;
have received other than a dishonorable
discharge;
have resided in New York State on April
20, 1984, or at the time of entry into service and resume
residency by September 1, 1990;
enroll in an approved undergraduate
program in a degree-granting institution or in an approved
vocational school in New York State; and
apply for Tuition Assistance Program
and Federal Pell Grant awards for full-time study or apply
for a Federal Pell Grant award for part-time study.
Awards for Children of Deceased and Disabled Veterans
These awards are for children of veterans who served in the
U.S. armed forces during specified periods of war or
national emergency and, as a result of service, either died,
suffered a 50 percent or more disability, were prisoners of
war, or are classified as missing in action. The award provides
$450 per year for up to four years of full-time undergraduate
study or up to five years in certain programs. Study must be
at a college or school in New York State. The specified periods
of service are:
Vietnam Era: Oct. 1, 1961, through
May 7, 1975
Korean Conflict: June 27, 1950, through
Jan. 31, 1955
World War II: Dec. 7, 1941, through
Dec. 31, 1946
Awards for Children of Deceased Police Officers,
Firefighters, and Correction Officers
These awards are for children of police officers, firefighters,
and correction officers who served in New York State and who
died as a result of injuries sustained in the line of duty.
The award is $450 per year for up to four years of full-time
undergraduate study or up to five years in certain programs.
Study must be at a college or school in New York State.
Reserve Officer Training Corps (ROTC)
The Army, Navy, and Air Force offer financial assistance to
qualified students. The Army offers up to $7,000 toward costs;
the Navy and Air Force offer scholarships that may cover full
tuition, plus fees and books. A monthly stipend may also be
awarded. Students incur an active-duty obligation and a reserve
obligation in return for a four-year scholarship.
Federal family education loans administered by New York State
Higher Education Services Corporation (NYSHESC) may be used
to pay a student's tuition and fees, room and board, books,
travel, and personal expenses. These loans have lower interest
rates than most other types of consumer loans.
To be eligible for a guaranteed education loan, the student
must:
study at least half-time at an approved
educational institution;
be a New York State resident for one
year if attending school out of state;
be either a U.S. citizen or
an eligible noncitizen;
meet the educational institution's
satisfactory academic progress standards;
demonstrate eligibility (or ineligibility)
for a Pell Grant; and
demonstrate compliance with applicable
Selective Service requirements.
Applications are also available from
banks, savings and loan associations, and credit unions. Applications for any additional guaranteed
education loans must be made to the same (first) lender.
Federal Stafford Loans—Subsidized
The student may borrow up to $3,500
a year for the freshman year, up to $4,500 for the sophomore
year, up to $5,500 for junior and senior years, up to $23,000
in total for undergraduate study, and up to $8,500 per year
for graduate-professional study.
All students must complete the Free Application for Federal Student
Aid (FAFSA). Additional documentation may be needed.
All loans will be paid in multiple installments. The first installment
may be paid thirty days before the start of the enrollment period.
The second installment may be paid after one-half of the loan
period has passed. Loan proceeds are submitted electronically to the student's account.
The college will contact students when disbursements are made on their accounts.
The interest rate is fixed at 6.0 percent for loans after July 1, 2008.
There are no interest payments while in school and
for six months afterward. There is an insurance fee and origination
fee of up to 4 percent of the amount borrowed. The fees are prorated
for each installment. They are due when the student receives
the loan proceeds. The bank may reduce the loan proceeds by the
amount of the fees.
Repayment of the amount borrowed plus interest begins six months
after the student either leaves school or drops below half-time
attendance. The minimum monthly payment is $50. Repayment must
be completed within five to ten years, depending on how much
was borrowed.
Federal Stafford Loans—Unsubsidized
This loan has the same features as the subsidized loans, except
that the federal government will not pay the interest on the
loan while the student is in school. Interest begins when the
loan is disbursed, but payment may be deferred. There is an insurance
and origination fee of up to 4 percent of the amount borrowed.
Independent undergraduate students may borrow an additional
unsubsidized loan of up to $5,000 per year. The college financial
aid administrator may authorize additional unsubsidized loan
eligibility for dependent undergraduate students when parents
have an adverse credit history. Any Federal Pell or Federal
Stafford eligibility will be considered in determining unsubsidized
loan eligibility amount.
All loans will be paid in multiple disbursements (as described
above for Federal Stafford Loans). The loan proceeds are submitted
electronically to the college. The college will contact students
when disbursements are made on their accounts.
The annual interest will be 6.8 percent for loans after July 1, 2006. Interest payments are
made while the student is in college. An insurance fee up to 4 percent of the
amount borrowed is due when the student receives the loan proceeds.
The bank may reduce the loan proceeds by the amount of the fee.
Repayment of the amount borrowed plus interest begins sixty
days from the disbursement of the loan, unless the borrower
qualifies for an in-school or other deferment. The minimum monthly
payment is $50. Repayment must be completed within five to ten
years, depending on how much was borrowed.
Federal Parent Loans for Students (PLUS)
Parents may borrow up to the cost of attendance minus financial
aid per year for each financially dependent undergraduate student
if there is no adverse credit history. Annual interest will
be 8.5 percent for loans after July 1, 2006.
There is an insurance fee of up to 4 percent of the amount borrowed.
The bank may reduce the loan proceeds by the amount of the fee.
Repayment of the amount borrowed plus interest begins within
sixty days after the loan is fully disbursed.
New York State provides funds for students who are both academically
and economically disadvantaged. Financial aid is combined with
special counseling, tutoring, and remedial course work, if appropriate.
Assistance is limited and is awarded at the discretion of the
college. Awards vary with financial need. HEOP assists undergraduate
students who are state residents and who are enrolled in independent
colleges and universities in New York State.
State Aid to Native Americans
This program provides up to $1,350 per year for four years to
enrolled members of Indian tribes in New York State for half-
or full-time study in the state.
Vocational Rehabilitation
The New York State Department of Vocational Rehabilitation provides
assistance for college expenses to state residents with a mental
or physical impairment that places limitations upon future employment.
Information is available from an Office of Vocational Rehabilitation.
Mayor's Scholarship Program
This is a student financial aid program established by the mayor's
office of the City of New York and sponsored by the federal
agency for Housing and Urban Development. The scholarships are
administered by the New York Urban League, ASPIRA of New York
Inc., and the Admission Referral and Information Center. To
be eligible, students must reside in certain designated areas
of New York City and be registered for at least twelve credits
per semester. The amount of each award ($100–$650) is based
on financial need as indicated by the student's Federal Pell
Grant Student Aid Index and the cost of education.
