Students enrolled in King Graduate School programs on the New York State campuses may be eligible for Direct Unsubsidized federal student loans and work-study programs.

Each program has its own eligibility requirements based on federal regulations. To establish eligibility for federal financial aid, students must complete the Free Application for Federal Student Aid (FAFSA) and upon request, provide required documentation. Students must utilize the U.S. Department of Education’s website to complete the FAFSA, which must be done before unsubsidized loans can be processed. 

FAFSA Information - How to Apply

The FAFSA (Free Application for Federal Student Aid) and must be completed in order to qualify for any type of financial aid program, including student loans. The only forms of federal aid available to graduate students are unsubsidized direct loans, federal work study, and/or Graduate PLUS loans.

• Students need a federal FSA ID, which must be created at Federal Student Aid. This is needed prior to beginning the FAFSA application.
• Go to Federal Student Aid to fill out the FAFSA online. Students will need their FSA ID and 2021 income/tax information to complete the application. Graduate students are considered independent and will not need parents’ income information.
• The Federal School Code for Monroe College is 004799.
• It is suggested that students use the DRT option to connect to the IRS so that their 2021 income can be downloaded directly from the IRS to their FAFSA application.

Graduate students are no longer eligible for Pell or NY State TAP (Tuition Assistance Program). If a student is renewing their 2023-2024 FAFSA, they need only update their information.

Student Eligibility Requirements for Federal Financial Aid (Title IV Aid)

• All male students between the ages of 18 and 25 must be registered with the Selective Service System. Only permanent residents of the Trust Territory of the Pacific Islands and the Northern Marina Islands are exempt from this requirement. 
• Must be a U.S. citizen 
• Must be enrolled and working toward a degree as a matriculated student in an eligible program 
• Must have a valid social security number 
• Must make satisfactory academic progress 
• Must not be in default on a federal student loan and not owe money on a federal student grant 
• Must have resolved any drug conviction issues 
• Must have no record of conviction for sex offenses 

Verification

The U.S. Department of Education may select a student for verification. Selected students will receive an email from the Student Financial Services Office requesting documentation or telling you how to fix the problem, reported on the student’s FAFSA application. Students are expected to respond within two weeks of receiving the email. Failure to submit documentation in a timely manner may result in the loss of federal aid. Failure to submit documentation within 120 days of the last day of the student's enrollment or the federal deadline of September 9, 2024, whichever is earlier, will result in the loss of federal aid.

Cost of Attendance

Student Financial Services utilizes estimated cost of attendance budgets, by student type, to calculate financial aid awards. These budgets reflect reasonable enrollment related expenses and can be found below:

Graduate (Commuter)

Cost of Attendance

Cost	1 Semester	2 Semesters	3 Semesters
Tuition (3 classes)	$8,271	$16,542	$24,813
Fees	725	1,450	2,175
Instructional Resource Fee	150	300	450
Books, course materials, supplies and equipment	100	200	300
Food	1,125	2,250	3,375
Housing	2,400	4,800	7,200
Transportation	450	900	1,350
Loan Fees	250	500	750
Personal / Miscellaneous	2,050	4,100	6,150
Total	$15,521	$31,042	$46,563

Graduate (Dormitory)

Cost of Attendance

Cost	1 Semester	2 Semesters	3 Semesters
Tuition (3 classes)	$8,271	$16,542	$24,813
Fees	725	1,450	2,175
Instructional Resource Fee	150	300	450
Books, course materials, supplies and equipment	100	200	300
Food	1,900	3,800	5,700
Housing	3,850	7,700	11,550
Transportation	300	600	900
Loan Fees	250	500	750
Personal / Miscellaneous	2,050	4,100	6,150
Total	$17,596	$35,192	$52,788

Graduate Online (International)

Cost of Attendance

Cost	1 Semester	2 Semesters	3 Semesters
Tuition (3 classes)	$3,978	$7,956	$11,934
Fees	175	350	525
Instructional Resource Fee	150	300	450
Books, course materials, supplies, and equipment	100	200	300
Food	1,125	2,250	3,375
Housing	2,400	4,800	7,200
Transportation	200	400	600
Loan Fees	250	500	750
Personal / Miscellaneous	1,550	3,100	4,650
Total	$9,928	$19,856	$29,784

Graduate Online (USA or US Territory)

Cost of Attendance

Cost	1 Semester	2 Semesters	3 Semesters
Tuition (3 classes)	$8,271	$16,542	$24,813
Fees	725	1,450	2,175
Instructional Resource Fee	150	300	450
Books, course materials, supplies and equipment	100	200	300
Food	1,125	2,250	3,375
Housing	2,400	4,800	7,200
Transportation	200	400	600
Loan Fees	250	500	750
Personal / Miscellaneous	1,550	3,100	4,650
Total	$14,771	$29,542	$44,313

Graduate 2nd Degree (Monroe Graduate)

Cost of Attendance

Cost	1 Semester	2 Semesters	3 Semesters
Tuition	$4,860	$9.720	$14,580
Fees	625	1,250	1,875
Instructional Resource Fee	150	300	450
Books, course materials, supplies and equipment	100	200	300
Food	1,125	2,250	3,375
Housing	2,400	4,800	7,200
Transportation	450	900	1,350
Loan Fees	250	500	750
Personal/Miscellaneous	2,050	4,100	6,150
Total	$12,010	$24,020	$36,030

Graduate 2nd Degree (Non-Monroe Graduate)

Cost of Attendance

Cost	1 Semester	2 Semesters	3 Semesters
Tuition	$5,220	$10,400	$15,660
Fees	625	1,250	1,875
Instructional Resource Fee	150	300	450
Books, course materials, supplies and equipment	100	200	300
Food	1,125	2,250	3,375
Housing	2,400	4,800	7,200
Transportation	200	400	600
Loan Fees	250	500	750
Personal/Miscellaneous	2,050	4,100	6,150
Total	$12,120	$24,240	$36,360

Federal Aid Program Descriptions

Graduate students may be eligible for the following federal Title IV programs:

• Federal Unsubsidized Direct Loans
• Federal Graduate PLUS loans
• Federal College Work Study Program

Federal Unsubsidized Direct Student Loan Program

The Federal Unsubsidized Direct Student Loan Program allows a graduate student to borrow up to $20,500 per award year. The federal government does not pay the interest on unsubsidized loans. Students are responsible for the interest that accrues on this loan during the time they are enrolled in school, during their grace period, and during periods of authorized deferment and forbearance. Students, however, have the option of paying these interest charges while attending school. If they choose not to pay the interest, it will accrue and be capitalized. Graduate students may not borrow more than a total of $138,500. This total includes all previously borrowed undergraduate subsidized and unsubsidized loans.  First-time borrowers must complete a Master Promissory Note (MPN) and an Entrance Counseling session at Federal Student Aid to insure that all borrowers' rights and responsibilities are understood. Loans cannot be disbursed until the entrance counseling and MPN have been completed.  Loan terms are determined by federal statute and may vary by the year the students obtain their initial loans. Go to Federal Student Aid for current interest rates.

Federal Direct Graduate Plus Loan Program (GPLUS)

These loans are available to Graduate students to help meet their cost of attendance expenses and may not exceed the total calculated cost of attendance minus other financial aid received. GPLUS loan borrowers are subject to a credit check and, if approved, are required to complete a Graduate Plus Master Promissory Note (MPN) and Entrance Counseling. Loans cannot be disbursed until the MPN and Entrance Counseling have been completed by going to Federal Student Aid. 

GPLUS loan repayment begins within 60 days of disbursement of funds.

Federal TEACH Grant Program

The Teacher Education Assistance for College and Higher Education (TEACH) Grant is a federal financial aid (Title IV) program designed for graduate students who are completing or who plan to complete coursework that is required to begin a career in teaching.

The U.S. Department of Education's Annual Directory of Designated Low-Income Schools can be found  at  Teacher Cancellation Low-Income Directory.

IMPORTANT: If you do not complete your service obligation, all TEACH Grant funds you received will be converted to a Federal Direct Unsubsidized Loan. You must then repay this loan to the U.S. Department of Education, with interest charged from the date the TEACH Grant was disbursed. If the grant is converted to a loan, it cannot be converted back to a grant.

Federal College Work Study Program (FWS)

This need-based award enables students to work in order to earn funds to help pay for their cost of attendance expenses. The amount of the award is determined by the federal needs analysis from the information provided on the FAFSA. Employment placement and the amount students can earn depend on the availability of funds and job sites. Continued eligibility for FWS employment is contingent upon continued satisfactory academic progress, attendance, and job performance. Students begin the application process at the Office of Career Services (OCS) and are then sent to Student Financial Services for a determination of their financial aid eligibility. Authorization and job placement is contingent upon their eligibility and the successful completion of OCS requirements, as well as the availability of a job assignment.

Standards of Academic Progress (SAP)

To remain eligible for federal Title IV aid, students must make satisfactory academic progress (SAP) towards completion of their degree. Satisfactory academic progress is measured by a qualitative standard and a quantitative standard. Monroe College monitors SAP at the end of each semester.

Qualitative Standard

Students are expected to earn a 3.0 cumulative grade point average (GPA). GPA's are manually reviewed at the end of each semester. Students whose cumulative GPA falls below 2.0 are dismissed. Students whose cumulative GPA falls between 2.00 and 2.99 are manually placed on Graduate SAP Warning status. These students are eligible for Title IV funding; however, they must achieve the required 3.0 cumulative GPA by the end of the next payment period to continue their Title IV eligibility.

Quantitative Standard

The quantitative standard requires that students complete a minimum of 67% of their attempted courses each semester. Students who fail to achieve this standard are manually placed on Federal SAP Warning status. For the purposes of this calculation, percentages are rounded up. Students on Federal SAP Warning status are eligible for Title IV funding; however, they must achieve the required standard by the end of the next payment period to continue their eligibility for Title IV aid. For students who change their program of study, the quantitative standard, is calculated from the time of the program change and includes only the attempted credits applicable to their new program of study.

As of Fall 2020

• Graduate students who are registered for four (4) credits are considered to be half-time.
• Graduate students who are registered for seven (7) or more credits are considered to be full-time.

Determination of Credits Attempted and Effect on GPA

• An official withdrawal (initiated by the student) is considered a course attempted but does not count towards a student's GPA. The grade on the transcript will be “W.”
• An unofficial withdrawal will be considered as a course attempted and will not count towards a student's GPA. The grade on the transcript will be UW.
• An administrative withdrawal (AW) (initiated by the College on a case by case basis) is considered a course attempted and counts as an “F” in a student's GPA.
• Repeated courses are considered course attempts. The passing grade of the second attempt replaces the first earned grade. Students may only attempt a course twice.
• All transfer, proficiency, and prior learning credits count as attempted credits and credits earned but do not count toward the student's GPA.

Loss of Title IV Federal Aid Eligibility ¹

A student who falls into one of the following categories is subject to the loss of Title IV federal financial aid eligibility:

• Students who fail to achieve the required qualitative standard (cumulative GPA of 3.0) following their Graduate SAP Warning Status;
• Students who fail to achieve the required quantitative standard following their Federal SAP Warning status, or
• Students who attempt more than 150% of the credits required for the completion of their program.  (For example, a student may not attempt more than 54 credits to earn a degree that requires 36 credits.)

¹

Federal Unsubsidized Loans are considered to be Title IV Federal Aid.

SAP Appeals

Students who have lost Title IV eligibility because they did not meet the quantitative standard or they exceeded the 150% credit cap have the right to appeal if mitigating circumstances prevented them from achieving the required standard. Proof of such circumstances is required. Appeals must be submitted to the Director of Financial Aid Compliance in the Student Financial Services Office or appropriate administrator of the King Graduate School. Both offices must approve the appeal.

Impact of Withdrawal on Federal Financial Aid

It is important for students who are receiving federal financial aid to understand the implications of either officially or unofficially withdrawing after classes begin.

Financial Responsibilities for Both Official and Unofficial Withdrawals

If a student withdraws or is dismissed after classes begin, he/she will be responsible for the administrative fee, actual bookstore charges and a percentage of tuition. The amount of tuition liability is related to the date of withdrawal. Please visit Monroe College Financial Aid for more details.

Students who do not officially withdraw from the College by the twelfth week of the semester will receive grades submitted by the faculty.

Retention of Federal Financial Aid Funds upon Withdrawal

The U.S. Department of Education regulates the treatment of all federal grants and loans. For those students who withdraw during a semester, the College is required to exercise the “Return to Title IV" calculation (R2T4) using the student's date of withdrawal, which is determined using the best available academic record.

The R2T4 calculation is based on the number of days in the semester divided into the number of days attended based on the date of withdrawal. This provides the percentage of Title IV aid a student has "earned."

For example, if the semester is 100 days, and a student’s withdrawal date falls on the 43rd day of the semester, the formula used would be 43/100 or 43 percent. This percentage would then be applied to the Title IV aid disbursed, or potentially disbursed, in order to determine how much and which proceeds need to be returned. Any “earned” percentage greater than 60 will yield the student 100% retention of all eligible Title IV aid.

The order in which funds are returned is also determined by the Federal Department of Education. The Attribution Table requires funds to be returned as follows:

• First: Direct Unsubsidized Loan
• Second: Graduate PLUS

Note: Federal Work-Study (FWS) must be earned and is not included in the R2T4 calculation. Funds earned prior to withdrawal may be kept by the student or retained, with student authorization, by the school for a balance owed. Students may not continue working in the FWS program after their withdrawal date.

Federal Loan Exit Counseling

All recipients of a Federal Direct Loan who withdraw, drop below six (6) credits, or graduate must complete an Exit Counseling session on the web at Federal Student Aid.  During this counseling, students are able to view their loan history and learn about repayment and deferral options. Students will need their FSA ID in order to access this website.

Federal Student Loan Repayment

The repayment of Federal Direct Loans begins six (6) months after a student graduates or drops below half-time matriculated status. The amount of the monthly repayment is calculated based upon the total amount that has been borrowed, as well as the repayment plan selected. Visit Federal Student Aid and click on the link “Repayment Plans and Calculators” to learn more.

Borrower Services and Financial Literacy

The Office of Loan Management (OLM) provides life-time, professional student loan management information and advocacy services to Monroe College students and their families, including:

• Information on repayment options that fit individual needs and circumstances
• Help in understanding the status of each student loan (Federal Student Aid)
• Loan consolidation advice
• Financial Literacy Resources and Seminars
• Information on avoiding the pitfalls of delayed or non- repayment of student loans
• Federal Student Aid also has information about loan repayment and options. 

Office of Loan Management locations and contact information:  

Bronx Campus, King Hall: (646) 393-8769
New Rochelle Campus, Milavec Hall: (914) 740-6849
Hours: Monday through Saturday; day and evening hours 
Email: Office of Loan Management 

Financial Aid Administrators, Code of Ethics

Financial Aid Code of Conduct

The following Code of Conduct was last updated by a vote from the National Association of Student Financial Aid Administrators (NASFAA) Board of Directors in November 2020, and published in January 2021. Subject to enforcement procedures that went into effect July 1, 2015, NASFAA  institutional members will ensure that:

1. No action will be taken by financial aid staff that is for their personal benefit or could be perceived to be a conflict of interest.
   1. Employees within the financial aid office will not award aid to themselves or their immediate family members. Staff will reserve this task to an institutionally designated person, to avoid the appearance of a conflict of interest.
   2. If a preferred lender list is provided, it will be compiled without prejudice and for the sole benefit of the students attending the institution. The information included about lenders and loan terms will be transparent, complete, and accurate. The complete process through which preferred lenders are selected will be fully and publicly disclosed. Borrowers will not be auto-assigned to any particular lender.
   3. A borrower's choice of a lender will not be denied, impeded, or unnecessarily delayed by the institution, even if that lender is not included on the institution's preferred lender list.
   4. No amount of cash, gift, or benefit in excess of a de minimis amount shall be accepted by a financial aid staff member from any financial aid applicant (or his/her family), or from any entity doing business with or seeking to do business with the institution (including service on advisory committees or boards beyond reimbursement for reasonable expenses directly associated with such service).
2. Information provided by the financial aid office is accurate, unbiased, and does not reflect preference arising from actual or potential personal gain.
3. Institutional financial aid offers and/or other institutionally provided materials shall include the following:
   1. Breakdown of estimated individual Cost of Attendance components, including which are direct (billed by the institution) costs vs. indirect (not billed by the institution) costs
   2. Clear identification and proper grouping of each type of aid offered indicating whether the aid is a grant, scholarship, loan or work program
   3. Estimated net price
   4. Standard terminology and definitions, using NASFAA's glossary terms
   5. Renewal requirements for each aid type being offered as well as next steps and financial aid office contact information
4. All required consumer information is displayed in a prominent location on the institutional web site(s) and in any printed materials, easily identified and found, and labeled as "Consumer Information."
5. Financial aid professionals will disclose to their institution any involvement, interest in, or potential conflict of interest with any entity with which the institution has a business relationship.

Non-Federal Loans

Students in need of funds beyond those available from college grants, outside grants, scholarships, work study and Federal Direct Unsubsidized Loans, and Graduate Plus Loans may seek non-federal loans. Students should carefully research these options as interest rates, fees, and loan terms vary widely among loan providers. Students will work with their lender to provide all necessary documentation for approval.