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2009 SUNY Financial Aid Update: Key Loan and Scholarship Changes

The 2009 SUNY Financial Aid Update outlines important changes affecting the Tuition Assistance Program (TAP) and loan processing. A new requirement mandates the inclusion of income from state, federal, and local pensions when assessing TAP eligibility. The TAP program remains largely unchanged, preserving current awards for students with 12 or more credits and maintaining financial support for graduate students. Additionally, this year saw an increase in application processing and financial literacy training sessions for students across New York.

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2009 SUNY Financial Aid Update: Key Loan and Scholarship Changes

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  1. SUNYFAP 2009 HESC Update

  2. PLUS Loan Auction Postponed

  3. Loan Updates • e-MPN Entrance Counseling • EFT Express update • AltLoan Connection

  4. Tuition Assistance Program (TAP) and 2009 Budget • A new requirement that income from New York State, Federal and local government pensions be included when determining TAP eligibility was included in the new budget

  5. Scholarships and Loan Forgiveness • Flight 3407 Memorial Scholarship Program • Regents Health Care and Professional Opportunity scholarships sunset

  6. Tuition Assistance Program (TAP) • TAP program remains essentially unchanged: • Maintains current TAP award calculations for students attempting 12 or more credits • Maintains current academic standards • Maintains income adjustments for students with multiple family members in college • Maintains funding for graduate students

  7. 2009-10 Application Processing • 256,082 applications processed as of April 20, 2009 • 20,000 more applications processed for 2009-10 than this time last year • 2008-09 processing was up 30,000 over 2007-08 Application Type by percentage: ETA 7% FAFSA Direct 32% Renewal Process 36% ATOTW 25% • Estimated TAP awards available in early May, 2009

  8. Financial Literacy Training • HESC staff continues to conduct financial literacy sessions across the state • This year a total of 71 sessions were completed • 1065 college students at 17 schools • 2329 high school students at 21 schools

  9. Financial Literacy • FACTS - Financial Literacy Modules available on HESCWeb • HESC Staff • Train the trainer • New financial literacy tools • Web-based • Borrowers can proceed at own pace

  10. RFI Generator

  11. School Rating Importance Level Lender Response Completing the RFI Provide additional details here RFI

  12. SUNYFAP 2009 HESC Update

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