Scholarships, Federal Aid, and Work-Study
The Office of Financial Aid
Graduate Center, 365 Fifth Avenue, Room 7200 Rebecca Dent
Email: rdent@gc.cuny.edu Phone: (212) 817-7459 Phyllis Schultz
Email: pschulz@gc.cuny.edu Phone: (212)817-7460
J-School Scholarships
All accepted students are considered for J-School scholarships. No separate application is needed. Awards are offered for three semesters and students are notified of their award when they receive their admissions offers.
Students must maintain a 3.0 minimum GPA to keep their scholarships. If a student goes into academic probation due to a GPA that has fallen under a 3.0, the student scholarship will be suspended. Once a student's academic standing improves, the scholarship will be awarded to the full balance of their scholarship. For example, if a student was awarded a $6,000 scholarship upon acceptance to the school, the student would have received $2,000 for each of the three semesters. However, if the student's scholarship was suspended in the spring semester because they went into academic probation, the student will not receive the $2,000 that would have gone towards their second semester. Once a student meets the minimum 3.0 GPA requirement, the remaining scholarship funds which were suspended will be funded to the student. Students who will be caused financial hardship if their scholarship is suspended may request a waiver with the Associate Dean upon meeting with them to discuss their academic status.
External Scholarships
We encourage all students to apply for outside scholarships and awards. Students can find a list of journalism- related scholarships here: https://www.journalism.cuny.edu/future- students/scholarships-financial-aid/. As soon as you accept an outside scholarship, please inform the journalism school's director of student affairs and the Graduate Center's Office of Financial Aid. Your financial aid award may be adjusted based on the amount of the outside scholarship. If a student does not immediately notify the Office of Financial Aid that they have accepted an outside scholarship, they risk having to repay the difference later that academic year.
Student Loans
In order to be considered for financial aid, incoming students are required to first complete the Free Application for Federal Student Aid (https://fafsa.ed.gov/) followed by the Graduate Center’s loan procedures (http://www.gc.cuny.edu/Prospective-Current- Students/Current-Students/Financial-Assistance/Federal- Aid/Loans/17-18-Federal-Direct- Loan-Procedures). For information on maximum amounts awarded, interest rates and repayment terms please visit https://studentaid.ed.gov/.
The FAFSA is available beginning October 1 on the Department of Education's (DOE) federal student loan site and is to be submitted online to the DOE. Students must input the Graduate Center's school code 004765. We encourage students to file as soon as possible.
Students should follow the link above to secure their loans and must submit their loan request to the Graduate Center's Office of Financial Aid. All first-time borrowers must complete an entrance counseling session, also known as an entrance interview, accessible on the DOE's student loan site, www.studentloans.ed.gov.
The online CUNYfirst system is a student's first line of communication with the Graduate Center's Office
of Financial Aid. Please check CUNYfirst regularly to determine whether your financial aid application is complete or requires additional documentation in order to be processed. When in doubt, email Rebecca Dent at rdent@gc.cuny.edu with any financial aid concerns.
You may receive notice from either the Graduate Center or DOE when it's time to complete a Master Promissory Note (MPN). The MPN is a contract that affirms your agreement to repay your loan to the DOE.
Award letters, which students should read carefully for messages from the Office of Financial Aid, will begin to be mailed in June, if not earlier, provided that the student has filed the FAFSA. After the initial award letter all subsequent communication will be through email. Any changes will also be reflected in the student's CUNYfirst account, where students can also view notifications regarding missing documents or other requests.
Please note: The Office of Financial Aid cannot process loans for students until they have registered for classes during orientation in August. Registration confirms that students are indeed attending the program. Financial aid is not disbursed until the week following the end of the drop/add period (See academic calendar). Therefore, students who arrive early to New York City should plan an alternative means of financing living expenses until then. Applications for emergency loans of up to $1,500 are accepted only on the first day of classes. The check will arrive in the journalism school's Office of Student Affairs 3-4 days after that initial request date. Students must first complete the emergency loan agreement form with the Graduate Center Financial Aid Office. Approved completed forms are submitted to Avril George-Robinson at the Newmark J-School.
Second Semester Students
Financial aid is not disbursed until the second week of February. In the interim, please plan an
alternative means of financing your living expenses.
Financial aid is an annual process. Students will need to fill out a new FAFSA (available in October) and a new loan request (available in June) to receive financial aid for their final semester(s).
Students who want to continue as fourth semester students must inform the journalism school's Office of Student Affairs by the end of their second semester. Students will not be considered for financial aid for the fourth semester if they are not on the list of students provided by the Office of Student Affairs to the Office of Financial Aid. Interested students should meet with the Office of Student Affairs to discuss their plans, and address any questions they have regarding their academic goals for their final semester. This consultation is required if you need financial aid to help cover fourth semester living or tuition expenses.
Students in Their Final Semester
Students in their final semester get their disbursements in two installments. Usually, the first one is in mid-September and the second one comes about 30 days after that. So, if you are due to receive
$10,000 in loans for the semester, you will see $5,000 in September and the remaining amount in October.
However, that first disbursement will cover tuition. So, if you owe $5,340, you will not receive any
money for living expenses with that first installment.
If you need money before October, you can apply for an emergency advance. Students can receive up to
$1,500 to help cover their living expenses. Students must first complete the emergency loan agreement form with the Graduate Center Financial Aid Office. Approved completed forms are submitted to Avril George- Robinson at the Newmark J-School.
Graduation Requirements
Every student who receives a loan MUST complete an online exit interview at www.studentloans.gov or schedule an appointment with the Graduate Center's Office of Financial Aid. If completing the exit interview online, students must take a screenshot of the confirmation page and email it to the Office of Financial Aid at financialaid@gc.cuny.edu. If students do not complete the exit interview, or show proof of completion, there will be a hold placed on their CUNYfirst account. The hold will prevent students from obtaining transcripts and other official documents. Please complete the exit interview immediately after receiving final grades.
Frequently Asked Questions
Are Perkins Loans or subsidized Stafford Loans available?
Subsidized Stafford loans are no longer available to graduate students as of July 1, 2012. Unfortunately, we are no longer able to offer to Perkins loans as the program is discontinuing.
Is work-study available?
Federal work-study is awarded based on a student Estimated Family Contribution (EFC) of zero, the date you completed the FAFSA, and availability of funds. Filing your FAFSA earlier increases
your chances of receiving work study.
At what point in the application process do I request the loan amount needed for the academic year? When filling out the loan request form.
I've received my financial aid award letter-what must I do in order to accept the amount loaned? Nothing. When you filled out the loan request, you were asked to request the loan amount needed for the academic year. That request is your acceptance of the loan that will be awarded
Do you borrow what you will need or more?
While it is best for all involved if students properly
anticipate their needs, we recognize that this is not always the case. Students wishing to increase or decrease their loans should contact Rebecca Dent as soon as possible to make that arrangement.
How will the Office of Financial Aid communicate with me and vice versa?
Primarily through CUNYfirst and email. E-mails will be sent to students' journalism.cuny.edu accounts only.
What happens to my financial aid if I withdraw?
An exit interview is required when the student no longer registers for least six credits, withdraws or graduates.
Federal Work-Study Program
Federal Work-Study awards are based solely on financial need as defined by federal law. 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 priority deadline (March 1) are initially considered for awards. Federal Work-Study positions are coordinated on campus by the Assistant Director of Student Affairs.
Undergraduate Loan Deferment Information
If students borrowed federal student loans as an undergraduate, they will be eligible for an in-school deferment as long as they are enrolled at least half-time (6 credits). To request this, students should contact the lender to request a deferment form and submit the deferment form to the University Registrar’s Office at the Graduate Center. The City University of New York participates in the National Student Loan Database Clearinghouse. Students should check with the lender to determine if they are able to access the Clearinghouse information. If they are, students will not need to submit a deferment form and the lender will be able to confirm enrollment status after the third week of classes.
Direct Deposit
We strongly encourage all students to establish direct deposit as soon as possible. Forms can be completed at the Bursar’s Office at the Graduate Center. Direct deposit forms are also available in the Office of Student Affairs.
Repayment Information
You don’t have to begin repaying most federal student loans until after you leave college or drop below half- time enrollment. Your loan servicer or lender must provide you with a loan repayment schedule that states when your first payment is due, the number and frequency of payments, and the amount of each payment. Keep in mind that your loan may have a grace period.
Once the loan enters repayment, students may have options in terms of their repayment plan. These may include:
Standard Repayment
Non-Consolidation Loans: Under this plan, you will pay a fixed amount of at least $50 each month for up to 10 years. This plan results in the lowest total interest paid of any repayment plan. If you have not selected a repayment plan by the time repayment begins, your loan(s) will be placed on the Standard Repayment Plan.
Extended Repayment Plan
Fixed Monthly Payment Option: Under this plan, you will pay a fixed amount of at least $50 each month for up to 25 years. To be eligible for this plan, your Direct Loan balance must be greater than $30,000. Repayment under this plan will result in lower total interest paid when compared to graduated plans with similar terms.
Graduated Repayment Plan
Non-Consolidation Loans: Under this plan, you will pay a minimum payment amount at least equal to the amount of interest accrued monthly for a period between 10 and 30 years. Your payments start out low, and then increase every two years. Generally, the amount you will repay over the term of your loan will be higher under the Graduated Repayment Plan than under the Standard Repayment Plan. This plan may be beneficial if your income is low now but is likely to steadily increase.
Income Driven Plans
Under all three plans, any remaining loan balance is forgiven if your federal student loans are not fully repaid at the end of the repayment period. For any income-driven repayment plan, the repayment period includes periods of economic hardship deferment and periods of repayment under certain other repayment plans. Whether you ultimately have a balance left to be forgiven at the end of your repayment period depends on a number of factors, such as how quickly your income rises and how large your income is relative to your debt. Because of these factors, you may fully repay your loan prior to the end of your repayment period.
Income-Based Repayment Plan (IBR)
Generally 10-15 percent of your discretionary income, but never more than the 10-year Standard Repayment Plan amount. Repayment period is 20-25 years.
Pay As You Earn Repayment Plan (PAYE)
Generally 10 percent of your discretionary income, but never more than the 10-year Standard Repayment Plan amount. Repayment period is for 20 years.
Revised Pay As You Earn (RePAYE)
Generally 10% of your discretionary income with no cap.
Income-Contingent Repayment Plan (ICR Plan)
The lesser of the following:
20 percent of your discretionary income or what you would pay on a repayment plan with a fixed payment over the course of 12 years, adjusted according to your income. Repayment period is for 25 years.
Please go to http://www.studentloans.gov for a more detailed explanation of each plan.