Financial Aid for U.S. graduate students at Canisius College is available through several financial aid programs. They include federal, state and private sources. Remember, the financial aid year at Canisius College begins with the summer semester and ends with the spring semester.
TO APPLY FOR AID
- Complete the Free Application for Federal Student Aid (FAFSA) each year. Electronic filing is the most expedient. First, obtain a federal Personal Identification Number (PIN) at www.pin.ed.gov if you have not obtained one for a previous semester. This will serve as your electronic signature.
- Next, visit www.fafsa.ed.gov to complete the FAFSA. Be sure to include the Canisius College Title IV code which is 002681. (A limited supply of the paper version of the FAFSA is available in the Financial Aid Office if you prefer to file by mail.)
- New York State residents should link to the TAP application page upon completion of the on-line FAFSA. Be sure to list Canisius College as your school of record with our graduate code of 5210.
- The Financial Aid Office will receive an electronic copy of your FAFSA information and provide you with an award notification when the evaluation is complete.
- Be sure to inform the Financial Aid Office of your educational plans (number of credits you expect to take each semester) so that your award can be properly determined.
The most common type of financial aid for graduate students at Canisius College is the Federal Stafford Loan (subsidized and unsubsidized). Eligible students must be:
- U.S. citizens or eligible non-citizens as determined by the criteria on the Free Application for Federal Student Aid.(FAFSA)
- Enrolled for a minimum of 4.5 credit hours in a semester.
- Matriculating toward a degree.
- Canisius College processes Stafford loan applications for any lender chosen by a student.
- Students may borrow a maximum of $20,500 (beginning July 1, 2007) in Federal Stafford Loan funds per financial aid year. (A maximum of $8,500 subsidized and $12,000 unsubsidized.
- The interest rate for the Stafford loan will be the current fixed rate. A 2% origination/default fee may be deducted from the loan at disbursement.
- For subsidized loans, there are no interest payments while the student is in school and for six months afterwards. For unsubsidized loans, interest begins to accrue while the student is enrolled.
- Borrowers are required to complete an electronic Master Promissory Note (e-MPN). Information about the e-MPN and instructions for submission are mailed to the student’s permanent address from the New York State Higher Education Services Corporation (NYSHESC) or may be accessed on-line at www.hesc.com.
- Students must file a Free Application for Federal Student Aid (FAFSA) each year
to determine eligibility.
Graduate students may also be eligible for a grant from New York State through the Tuition Assistance Program (TAP). Eligible students must be:
- New York State residents for at least a year prior to the enrolled semester.
- Enrolled for a minimum of 12 credit hours in the semester.
- Meet income requirements as determined by New York State.
- Students may be eligible for a TAP grant ranging from $37 to $275 per semester.
- Students must file a Free Application for Federal Student Aid (FAFSA) each year
to determine eligibility. The FAFSA on-line provides an on-line link to the New York State website www.hesc.com. - The New York State TAP code for Canisius College graduate students is 5210.
Graduate students wishing to teach secondary math or science may be eligible to receive scholarship funding through the NYS Math and Science Teaching Incentive Program. Recipients may receive a one year award with a maximum of $4,350 in exchange for a commitment of 5 years of math and science teaching in New York State. Interested students will find details and application information here.
FEDERAL PLUS LOANS
Effective July1, 2006, graduate students may borrow from the federal PLUS Loan Program. Students may borrow up to the cost of attendance minus any financial aid received. A credit check is required. Pre-approval applications are available in the Student Financial Aid Office.
Graduate PLUS Loan facts:
- The interest rate for the PLUS loan will be the current fixed rate. Interest begins at the time of disbursement.
- Some lenders may charge an origination/default fee of up to 4% of the amount borrowed. The lender will reduce the check by the amount of the fees.
- Repayment of the PLUS loan begins 60 days from full disbursement.
We encourage you to research various lending institutions to find one that best meets your needs. The Financial Aid Office will be happy to process any loan application submitted. Here is a brief list of lending options you may wish to consider as you begin your research:
College Loan Corp Loan
For more information call College Loan Corp. at 1-888-972-0852 or visit www.collegeloan.com
Signature Student Loan
For more information call Signature Pre-Approval at 1-888-272-5543 or visit www.salliemae.com/signature
Wachovia Education Loan
For more information, call 1-877-689-0763 or visit www.wachovia.com/education
CANADIAN GRADUATE STUDENTS
Ontario, Canada residents wishing to apply for the Ontario Student Assistance Program (OSAP) funding to meet their expenses as graduate students at Canisius College should:
- Apply for admission to Canisius College. Contact the Graduate Education or Graduate Business Offices for information.
- Contact the Ontario Ministry for the Program Information Form. The form is available on-line at http://osap.gov.on.caor by mail at:
Student Support Branch
Ministry of Training, Colleges and Universities
P. O. Box 4500
189 Red River Road, 4th Floor
Thunder Bay, ON P7B 6G9 - Complete the student portion of the Program Information Form, then submit the school section to the Financial Aid Office for completion. The completed form can be sent directly to the Student Support Branch or to the student. Be sure to include your plans for the number of credit hours you will take each semester.
- Receive two forms from the Ministry, after the form has been processed by the Ontario Ministry. The “Confirmation of Enrolment Form” must be completed by the student and requires a signature from the Financial Aid Office. Another, a three-part form, requires a signature from the Office of Student Records. Both forms confirm the student’s enrollment.
- Submit these two forms to the Office of Ministry. Disbursement of the student’s loan funds will then be made to the student.