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  Home > Admissions > Financial Aid

Financial Aid

The Office of Financial Aid is dedicated to providing quality, personable services to all applicants to assist them in funding their college education. An extensive network of services and resources are offered to help applicants with the financial aid process.

Individuals who have expressed an interest in attending SUNY College at Old Westbury and applying for financial aid are assigned a Financial Aid Advisor. Financial Aid Advisors help students apply for financial aid and develop financial aid awards tailored to meet four years of college expenses. We participate in federal, state and local aid programs that help make education affordable for all students.

If you are interested in attending but worried about costs, we encourage you to apply for financial aid. More than half of Old Westbury students and their families receive financial assistance in the form of grants, loans, scholarships and student employment.

Even if you do not qualify for federal or state grants, there are additional financing options available that can help you meet our costs. The staff of the Office of Financial Aid is available to answer your questions and to assist you in making Old Westbury an affordable choice.

A conviction for any offense, during a period of enrollment for which the student was receiving Title IV, HEA program funds, under any federal or state law involving the possession or sale of illegal drugs will result in the loss of eligibility for any Title IV, HEA grant, loan, or work-study assistance (HEA Sec. 484(r)(1)); (20 U.S.C. 1091(r)(1)).

How to Apply for Aid  top

Applicants interested in applying for federal, state and/or local student financial assistance (grants, loans, scholarships and student employment opportunities) may utilize the following links or contact the Office of Financial Aid by calling (516) 876-3222/ 3223 or finaid@oldwestbury.edu for a "specific year" Financial Aid Packet. All of the required applications must be completed by suggested deadline dates.

The Office of Financial Aid requires the following documents to be submitted and/or filed by all applicants:

Deadlines  top

Submit all Documents Dec.5, 2008
 
Fall Entry
File F.A.F.S.A./Renewal Applications April 15
Sumbit all Documents May 11

Cost of Education  top

Your Cost of Education consists of Direct Charges (tuition, fees, room and board if you live on campus) and Indirect Charges (Room and Board for students who do not live on campus, books and supplies and miscellaneous/personal expenses). Cost of Education is composed of 3 budget groups:

  1. Resident Students
  2. Dependent Commuters
  3. Independent Commuters

Net Price Calculator  top

The net price calculator provides students and parents an estimate of the total annual cost of attending SUNY College at Old Westbury . Please note that the provided quote is a *broad* estimate and includes both direct and indirect costs. Actual out-of-pocket cost may be significantly less than the estimate. It is important for you to understand what financial obligations you will incur while attending college. However, this tool does not calculate scholarships, New York state grants (TAP) and other awards.

Please note: this is only an estimate, and you must file a FAFSA (Free Application for Federal Student Aid) and the TAP application (New York state residents only) to receive a full analysis. We encourage you to speak with a member of our financial aid team while applying for aid.

Determining Financial Need  top

Financial aid is meant to assist families in paying for a college education. The information you report on your FAFSA (Free Application for Federal Student Aid) is used to calculate your Expected Family Contribution (EFC), which is a measure of your family's ability to pay for your college education. The EFC also determines your eligibility for a Pell grant, Campus Based Aid (Supplemental Educational Opportunity Grant, College Work Study) and Federal Student Loans(Subsidized and/or Unsubsidized). The formula for the EFC is established by Congress.

Your Financial Aid Advisor determines need by subtracting the EFC from the Cost of Education and uses the information to develop a financial aid package.

When a financial aid award package is developed by your Old Westbury Financial Aid Advisor, you will receive an award letter that you must sign and return within 10 days.

Components of a Financial Aid Award  top

Financial aid opportunities at Old Westbury can include:

GRANTS (Financial aid you don't have to pay back)

Federal Pell - available to undergraduate students only who do not already have bachelors degree and based on need. Annual awards can range from $555-$5550

Federal Supplemental Educational Opportunity Grant (S.E.O.G.) - available to undergraduates with exceptional need. Priority is given to Federal Pell grant recipients. Funds are limited and awarded to qualified students that meet established deadline dates

Federal College Work Study Program (C.W.S.P.) - available to students that demonstrate need. Funds are limited and awarded to qualified students that meet established deadline dates. Money is earned while attending school.

Tuition Assistance Program (T.A.P.) - available to New York State eligible undergraduate, full-time, matriculated students to help meet tuition charges.

Aid for Part-Time Study (A.P.T.S.) - provides assistance to eligible part-time undergraduate students in approved programs to help meet tuition charges.

Educational Opportunity Program (E.O.P.) - provides academic support and financial aid to students who show promise for mastering college-level work, but who may otherwise not be admitted. Offered primarily to full-time students who are New York State residents, EOP accepts students who qualify, academically and financially, for the program.

LOANS (financial aid that must be repaid with interest)   top

Federal Perkins Loan - federal loans awarded by SUNY College at Old Westbury based on need. The current interest rate is 5%. Funds are limited and awarded to qualified students that meet established deadline dates

Federal Direct Loans (subsidized and/or unsubsidized) - loans funded by the federal government. Subsidized Loans-students must demonstrate need. The U.S. Department of Education pays interest while the borrower is in school(registered at least half-time) and during grace and deferment periods. Unsubsidized Loans-no requirement to demonstrate need and borrower is responsible for interest during the life of the loan


SCHOLARSHIPS (financial aid you don't have to pay back!)  top

Scholarships provide financial assistance based on merit and/or need that does not have to be repaid. An array of scholarships are made available by both SUNY College at Old Westbury and The Old Westbury College Foundation, Inc. For further information on those scholarships available, click here or call (516) 876-3207 for a current list of scholarships and information.


Academic Standards for Continued Financial Aid Eligibility  top

To remain eligible for Title IV federal aid, students must meet the College's criteria for good academic standing and maintain satisfactory progress toward a degree. The criteria for good academic standing and satisfactory progress toward a degree are outlined in the college catalog under the heading Academic Standing. Students who fail to meet these criteria may, through the Academic Standing Committee, appeal for reinstatement to the College.

To remain eligible for state aid, students must fulfill conditions of pursuit and progress outlined in the college catalog under the heading Academic Standards for Continued Financial Aid Eligibility. Students who fail to meet these criteria may request a one time state waiver. Students must document specific reasons for not meeting the conditions of pursuit and progress.

***A conviction for any offense, during a period of enrollment for which the student was receiving Title IV, HEA program funds, under any federal or state law involving the possession or sale of illegal drugs will result in the loss of eligibility for any Title IV, HEA grant, loan, or work-study assistance (HEA Sec. 484(r)(1)); (20 U.S.C. 1091(r)(1)).

Alternative Financing Options  top

Alternative financial resources are available at SUNY College of Old Westbury to help students and their families meet full educational costs. Two of the programs most used by Old Westbury students and their families are described below.

Time Payment Plan: SUNY College at Old Westbury has a convenient and affordable way for students and parents to pay their educational expenses. This plan allows tuition and fees to be paid in two (2) equal installments each semester. Payments for the Fall semester begin in August, payments for the Spring Semester begin in December. There is a nominal cost for this program, please contact the Bursar's Office (516) 876-3168 for additional information.

Federal Direct PLUS Loan
This federally funded program enables parents of undergraduate students to borrow up to the cost of attendance minus financial aid to help pay college expenses. Information regarding PLUS loans is available on request from the Office of Financial Aid.


Scholarships  top

In addition to state and federal aid programs, students of SUNY College at Old Westbury can take advantage of an array of scholarship opportunities. Whether to cover tuition, housing, or travel, the College itself and the Old Westbury College Foundation, Inc. work together to help you explore every option for getting the money you need to attend Old Westbury. Use the links below to see what options are available for you from the College and other sources:


Graduate Students  top

Prospective graduate students interested in applying for Financial Aid must complete the FAFSA at www.fafsa.ed.gov and must also complete the Applicant Statement.

*Due to the Budget Control Act (BCA) of 2011 (Pub. L. 12-025), Graduate and Professional students no longer qualify for Federal Direct subsidized loans.


Financial Aid Documents
The Office of Financial Aid requires the following documents to be submitted and/or filed by all applicants

  • Applicant Statement for Graduate Students (attached as a word document). Download, complete, sign, and submit.
  • Free Application for Federal Student Aid
  • Previous Year Household Income Documentation (Signed Federal Income Tax Returns, State and Local Tax Returns, Social Services, Social Security, AFDC or ADC, Veteran Benefits or other Untaxed Income).
    ****** Effective July 1, 2012… we will no longer require income documentation as all graduate/professional students will only be eligible for unsubsidized loans.


Types of Financial Aid  top

The New York State Tuition Assistance Program (TAP): TAP helps eligible New York residents attending in-state postsecondary institutions pay for tuition. Depending on the academic year in which the student began study, an annual TAP award can be as high as $5,000. Visit www.hesc.org for more information.
*Tap is no longer available to Graduate students.

Federal Direct Loans: All Direct Loans are either subsidized (the government pays the interest while you're in school) or unsubsidized (you pay all the interest, although you can have the payments deferred until after graduation). To receive a subsidized Direct Loan, you must be able to demonstrate financial need. Direct Loans allow students to borrow $18,500 per year, although only $8,500 of that is subsidized. Effective for loans first disbursed on or after July 1, 2007, the annual direct loan limits will be $20,500. To apply for a Direct Loan, you must submit the Free Application for Federal Student Aid (FAFSA). Even though the unsubsidized Stafford Loan is available to all students regardless of financial need, you must still submit the FASFA to be eligible. You can receive a subsidized loan and an unsubsidized loan for the same period.

*****Effective July 1, 2012

Due to the Budget Control Act (BCA) of 2011 (Pub. L. 12-025), Graduate and Professional students no longer qualify for Federal Direct subsidized loans.

Private Loans: Private Loans, also known as Alternative Loans, help bridge the gap between the actual cost of your education and the limited amount the government allows you to borrow in its programs. Private loans are offered by private lenders and there are no federal forms to complete.

Fellowships: Graduate fellowships are forms of aid that help students pay for their graduate education. Unlike loans, they do not have to be repaid. Hundreds of thousands of scholarships and fellowships from several thousand sponsors are awarded each year. The best way to search for scholarships and fellowships is to use a personalized search, like FastWeb, that compares your background with a database of awards. Only those awards that fit your profile are identified as matches.

Financial Aid Staff  top

Sandra Alvarez
Financial Aid Advisor
Building: CC , Room: H100a
Phone: 516-876-3223/4
E-mail: alvarezs@oldwestbury.edu

Linda Bonventre
Financial Aid Assistant
Building: CC , Room: H100A
Phone: 516-876-3223/4
E-mail:

Lorraine M. Cardenas
Assistant Director
Building: CC , Room: H100a
Phone: (516) 876-3223/4
E-mail: CardenasL@Oldwestbury.Edu

Dorothea L. Darrell
Financial Aid Assistant
Building: CC , Room: H100a
Phone: (516) 876-3223/4
E-mail: DarrellD@Oldwestbury.Edu

Jolanda Hairston
College Workstudy Coord.
Building: CC , Room: H100a
Phone: (516) 876-3223/4
E-mail: HairstonJ@Oldwestbury.Edu

Pei Hua (Stephanie) Jian-Chiu
Financial Aid Advisor
Building: CC , Room: H100a
Phone: (516) 876-3223/4
E-mail: jian-chiup@oldwestbury.edu

Amar Laradji
Staff Assistant
Building: CC , Room: H100A
Phone: (516) 876-3223/4
E-mail: LaradjiA@Oldwestbury.Edu

Patricia Mateo
Financial Aid Advisor
Building: CC , Room: H100a
Phone: (516) 876-3223/4
E-mail: MateoP@Oldwestbury.Edu

Mildred O'Keefe
Director
Building: CC , Room: H100a
Phone: (516) 876-3223/4
E-mail: okeefem@oldwestbury.edu

Donna Sullivan
Direct Loan Coordinator
Building: CC , Room: H100a
Phone: (516) 876-3223/4
E-mail:

Seeing Your Advisor  top

Students are assigned Financial Aid Advisors according to the first letter of their last name. Listed below are the walk-in schedules for each Financial Aid Advisor.

EOP – Eliliana Martinez    
martineze@oldwestbury.edu

Monday

Tuesday
Thursday
10:00 AM – 12:00 PM
2:00 PM – 4:00 PM
2:00 PM – 4:00 PM
2:00 PM – 4:00PM

NON-EOP Patricia Mateo
Mateop@oldwestbury.edu

Letters A-G
Wednesday

Thursday

10:00 AM- 12:00PM
1:30 PM- 4:00 PM
10:00 AM- 12:00 PM
1:30 PM-4:00 PM

NON-EOP Kimberly Hayman
Haymank@oldwestbury.edu

Letters H-O
Monday

Wednesday

10:00 AM- 12:00PM
1:30 PM- 4:00 PM
10:00 AM- 12:00 PM
1:30 PM-4:00 PM

NON-EOP Stephanie Jian-Chiu
jian-chiup@oldwestbury.edu

Letters P-Z
Monday

Thursday

10:00 AM-12:00 PM
1:30 PM-4:00 PM
10:00 AM-12:00 PM
1:30 PM-4:00 PM

Job Placement- Jolanda Hairston
HairstonJ@oldwestbury.edu

Monday

Wednesday

Thursday
10:00 AM- 12:00PM
2:00 PM – 4:00 PM
10:00AM – 4:00 PM
2:00 PM – 4:00 PM
10:00 AM- 12:00PM
2:00 PM – 4:00 PM

Loan Officer- Amar Laradji
laradjia@oldwestbury.edu

Monday-Friday

10:00 AM-12:00 PM
2:00 PM- 4:00 PM

In addition, a Financial Advisor is available on Thursday evenings from 5:00 pm to 6:45 pm, while classes are in session.

Code of Conduct for Institutional Financial Aid Professionals   top

The primary goal of the financial aid professional is to help students achieve their educational potential by providing appropriate financial resources. To this end, the staff of the Office of Financial Aid at College at Old Westbury follows these principles and the code of conduct outlined by Office of the New York State Attorney General.

An institutional financial aid professional is expected to always maintain exemplary standards of professional conduct in all aspects of carrying out his or her responsibilities, specifically including all dealings with any entities involved in any manner in student financial aid, regardless of whether such entities are involved in a government sponsored, subsidized, or regulated activity. In doing so, a financial aid professional should:

  • Refrain from taking any action for his or her personal benefit.
  • Refrain from taking any action he or she believes is contrary to law, regulation, or the best interests of the students and parents he or she serves.
  • Ensure that the information he or she provides is accurate, unbiased, and does not reflect any preference arising from actual or potential personal gain.
  • Be objective in making decisions and advising his or her institution regarding relationships with any entity involved in any aspect of student financial aid.
  • Refrain from soliciting or accepting anything of other than nominal value from any entity (other than an institution of higher education or a governmental entity such as the U.S. Department of Education) involved in the making, holding, consolidating or processing of any student loans, including anything of value (including reimbursement of expenses) for serving on an advisory body or as part of a training activity of or sponsored by any such entity.
  • Disclose to his or her institution, in such manner as his or her institution may prescribe, any involvement with or interest in any entity involved in any aspect of student financial aid.

For a complete copy of the agreement between SUNY and the Office of the State Attorney General of New York, click here.

On-Line Resources  top

Through the professional experience of our Financial Aid staff, the College has come into contact with an array of organizations and resources that have proven helpful in makings students' dreams of a college education come true.

Free Web Sites

Financial Institutions and Lenders:  top

SUNY College at Old Westbury does not identify any lending institution as being preferred. Students and their parents have the right and ability to select the education loan provider of their choice.

 

 



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