Canisius College

Federal and institutional regulations require students who have taken out a Federal Perkins Loan, a Federal Stafford Student Loan, or a Peter Canisius Student Loan to attend pre-loan and exit interviews before graduating or withdrawing from the college.  Important information concerning repayment schedules and deferment and cancellation provisions will be discussed. It is to the student’s advantage to attend. Students must contact the Financial Aid Office for this interview if they withdraw from the college.

Federal Work-Study Program: The Federal Work-Study Program (FWS) is a federally funded program designed to offer students part-time employment while in school. It is available to both full-time and part-time (at least six hours) matriculating students. Students are employed on campus, ideally in work related to their academic and vocational goals. A student qualifying for Federal Work-Study employment may work between five and 20 hours a week during the academic year and up to 40 hours a week during the summer. All job referrals are made by the Office of Student Financial Aid.

Federal Supplemental Educational Opportunity Grant:The Federal Supplemental Educational Opportunity Grant (FSEOG) is a federally funded program administered by Canisius College and based on financial need. Recipients may be either full-time or part-time (at least six hours) matriculating students. At Canisius, grants range from $200 to $1,500 a year. This award is a grant, not a loan. FSEOG funds are limited. FSEOG will be awarded to students with exceptional financial need, that is, to students whose financial need exceeds 50% of the student budget under which they are evaluated. Priority will be given to students who have the lowest expected family contributions and/or who are eligible for the Federal Pell Grant Program.

Canisius College Academic and Need-Based Scholarships
Presidential Academic Scholarships: The Scholarship Committee annually awards a limited number of Presidential Scholarships, valued at $20,000 per year, based solely on academic ability.

All incoming freshmen who are offered Canisius Presidential Academic Scholarships must maintain a 3.0 cumulative G.P.A. at the college in order to retain their scholarship aid. Students interested in this scholarship should submit a completed Application for Admission to the college by November 15th of their senior year in high school for priority consideration. A separate scholarship application is not required.

Ignatian Scholarships: The Scholarship Committee annually awards a limited number of Ignatian Scholarships, valued at $15,000 per year, based solely on academic ability.  All incoming freshmen who are offered Canisius Ignatian Scholarships must maintain a 3.0 cumulative G.P.A. at the college in order to retain their scholarship aid. Students interested in this scholarship should submit a completed Application for Admission to the college by November 15th of their senior year in high school for priority consideration. A separate scholarship application is not required.

Canisius College also funds renewable scholarships for incoming freshmen which range from $5,000 to $12,000 per academic year. Among the scholarships awarded are the Trustee’s Scholarships, the Dean’s Academic Scholarships, the Benefactor’s Scholarships and the Academic Scholarships.

These scholarships are awarded on the basis of SAT or ACT scores and high school records. A separate scholarship application is not required. In order to be eligible for one of these scholarships, a student must:

1. Be accepted for admission to Canisius; and
2. Take the SAT or ACT tests. (Scores for tests taken before December 31 of the senior year are preferred.)

Freshmen who are offered these scholarships are required to maintain good academic standing. All applicants are encouraged to apply for financial aid.

Martin Luther King Scholarships: The purpose of the Martin Luther King Scholarship Program is to assist minority students in meeting their educational expenses. Scholarships ranging from $5,000 to $20,000 are awarded based on academic merit. These scholarships are renewable for four years. In order to renew scholarships, the student must maintain good academic standing. Some of the larger scholarships require a minimum cumulative G.P.A of 3.0.

Other Programs
Higher Education Opportunity Program: The Higher Education Opportunity Program (HEOP) is a New York State education program. The purpose of this program is to assist academically under-prepared and financially disadvantaged students. In order to qualify, students must meet specific criteria in each of these areas. Students interested in applying for admission under this program should contact the Canisius Opportunity Programs for Education (COPE) Office for more information. All students in this program must file the FAFSA. This program may be affected by State appropriations.

Children of Alumni: Full-time undergraduate students who are children of Canisius alumni are eligible for an alumni grant of $1000.

Army ROTC Scholarship Program: The purpose of the Army ROTC Scholarship Program is to assist outstanding students in paying for their college education while they complete requirements for a commission in the U.S. Army Reserves, the National Guard, or the United States Army. High school students interested in the four-year scholarship should contact their high school guidance counselors or the Professor of Military Science at Canisius College. Students may also apply on the Internet at www.armyrotc.com. The application deadline is November 15 of the student’s senior year in high school.

Three- and two-year scholarships are also available to Canisius College students. It is not necessary that a student be enrolled in the Military Science curriculum to qualify for these scholarship awards. Deadlines for these awards are March 15 of the sophomore year for the two-year scholarship and March 15 of the freshman year for the three-year scholarship.

The scholarship is $20,000 for tuition and mandatory fees. All qualifying students will also receive a flat rate of $600 for books, and a subsistence allowance of up to $400 per month for the length of the scholarship.

Canisius College also provides a grant to assist resident ROTC Scholarship recipients with their room and board costs. In addition, some academically qualified students are eligible to receive a subsidy from Canisius College to meet the balance of their tuition not covered by the ROTC Scholarship.

Religious/Clergy Fee Waivers: The college sponsors a partial (two-thirds) tuition waiver program for religious/clergy. Applications for this program are available at the Financial Aid Office. These applications must be filed during the semester in which the waiver is desired.

Other Awards: The Canisius College Office of Student Financial Aid also has information about the following scholarships and financial aid programs: Regents Awards for Children of Deceased or Disabled Veterans; State and Federal Aid to Native Americans; and Veterans Administration Educational Benefits. The Buffalo Board of Education publishes an annual catalog of Scholarships and Loans Available through Local Organizations.

Endowed Scholarships: Endowed scholarships exist in perpetuity. These are made possible by founded gifts, which yield an annual income sufficient to defray, in whole or in part, the tuition and fees of the student.

The annual income from endowed scholarships partially finances the scholarship program of Canisius College according to the wishes of the donors. Endowed scholarships, entire or partial, are listed with the year of foundation.

Ramon E. Abarca Scholarship (1998)
Irene E. Adamski ’81 Scholarship (1987)
Aetna Casualty & Life Scholarship (1984)
Andy Anselmo ’45 Music Scholarship (2004)
Craig R. Arrison ’87 Track & Cross Country Scholarship (1998)
Frederick G. Attea ’61 / Phillips, Lytle, Hitchcock, Blaine & Huber Scholarship (1992)
Mr. & Mrs. Nathaniel A. Barrell Scholarship (1988)
Anthony J. & Mary K. Battaglia Family Scholarship (1992)
Joe & Ange Battaglia Scholarship (1998)
William D. Bennett ’61 Memorial Scholarship (1998)
Julius Binz Family Scholarship (1987)
Blue & Gold Scholarship (1997)
James R. Boldt ’84 MBA Scholarship (1997)
Dr. Frank J. ’41 & Maiio Bolgan Scholarship (1998)
Charles V. ’56 & Donald F. ’64 Borzilleri Scholarship (1986)
Rev. Raymond Bosch Scholarship (1987)
Vincent C. Bowhers ’50 Scholarship (1998)
Leo A. ’56 & Patricia A. Bradley Scholarship (1989)
Bristol-Myers Squibb Co. Scholarship (1986)
Dr. Barbara H. Brock Memorial Scholarship (1991)
Joseph L. Brock Memorial Scholarship (1988)
Rev. T. Joseph Brown, S.J. Memorial Scholarship (1999)
Buffalo Hotel Supply Company Scholarship (1990)
The Buffalo News Scholarship (1998)
Thomas A. Buscaglia Scholarship (1997)
Louis Calder Foundation Scholarship (1997)
Dr. Donald E. Calvert Scholarship (1987)
Canisius College Alumnae Association Rev. J. Clayton Murray, S.J. Scholarship (1984)
Canisius College Alumnae Study Club Scholarship In Memory of Rev. Nicholas J. Sullivan, S.J. (1996)
Canisius College Board of Regents Scholarship (1991)
Canisius College Commemorative Scholarship (1994)
Canisius College Council on Accountancy Scholarship (1991)
Virginia F. & R. Carlos Carballada ’56 Scholarship (1999)
Edward Burke Carey ’69 Entrepreneurial Scholarship (2001)
Joseph R. Carroll & Christine H. Family Scholarship (1991)
Rev. Philip B. Carroll, S.J. Scholarship (1988)
Joseph R. ’81 and Cathleen H. ’81 Casacci Family Scholarship (1998)
Joseph J. Castiglia ’55 Family Scholarship (1991)
Frances G. Churchill Scholarship (1984)
Dr. Charles F. Cipolla ’41 Memorial Scholarship (2004)
Joseph Ciraolo ’94 Memorial Scholarship (1998)
Class of 1978 Scholarship (2003)
Anthony J. Colucci, Jr., Esq. ’55 Family Scholarship (1987)
Hon. Ernest L. Colucci ’29 Memorial Scholarship (1994)
Fidelis L. Comaratta, M.D. ’56 Memorial Scholarship (1993)
Computer Science Department Scholarship (1993)
Patricia Z. Connolly ’74 Scholarship (1999)
Terrence M. Connors ’68 Scholarship (1999)
Mary S. Conrad ’24 Memorial Scholarship (1992)
Dr. Joseph R. Coppola ’40 Scholarship (1989)
Craig J. Costanzo ’67 Family Scholarship (1996)
John & Ella Cullen Scholarship (1996)
Hon. John T. Curtin ’46 Scholarship (1998)
Warren B. Cutting Scholarship (1982)
Thomas W. ’42 & June E. Dalton Scholarship (1996)
Chester E. ’50 & Anne A. Daly Scholarship (1998)
Eleanor P. Davis Scholarship (1992)
Sister Mary Delaney, S.S.J. Teacher of the Deaf Memorial Scholarship (1996)
Deloitte & Touche LLP Scholarship (2001)
Peter F. DeLuca Scholarship (2001)
Dr. John A. ’38 & Marjorie M. Demerly Scholarship (1987)
Rev. James M. Demske, S.J. ’47 & Family Scholarship (1987)
Judge Charles S. Desmond ’17 Pre-Law Scholarship (1987)
DeSpirt Foundation Scholarship (2000)
Hon. Michael F. Dillon ’50 Memorial Scholarship (1992)
Winifred E. DiVita Memorial Scholarship (1985)
Dr. Alfred H. & Irene N. Dobrak Scholarship (1990)
Dopkins & Company LLP Scholarship (1983)
John F. Driscoll Memorial Scholarship For Women In Medicine (1997)
Rev. Paul J. Dugan, S.J. ’45 Scholarship (1993)
Eberl Families Scholarship (1991)
Charles T. Eppolito ’43 Memorial Scholarship (1998)
Ernst & Young Scholarship (1992)
Edward E. Fallon ’38 Memorial Scholarship (1991)
Angelo M. ’66 & Carol A. Fatta Family Scholarship (1997)
Rev. Eugene P. Finnegan, S.J. Scholarship (1987)
First Niagara Bank Foundation Scholarship (1998)
Rev. Thomas E. Fleming, S.J. Memorial Scholarship (1998)
Lane Ford ’87 Memorial Scholarship (1998)
William J. Frederick ’69 Scholarship (2000)
Dr. Maurice B. Furlong ’31 Scholarship (1987)
Leo R. ’40 & Marie G. Futia Scholarship (1999)
Cari Anne Gasiewicz Memorial Scholarship (2004)
William C. Gates ’62 Scholarship (1994)
Rev. Thomas F. Gavin, S.J. ’32 Scholarship (1988)
Edward C. Gelia ’54 Scholarship (1995)
Charles ’43 & Dolores Gelia Family Scholarship (2004)
David M. Gentile ’72 Memorial Scholarship (1999)
Philip & Mary Gerhard Scholarship (1985)
Gernatt Scholarship (1998)
Gerard A. Gilbride Family Scholarship (1987)
Norman G. Giles Family Scholarship (1989)
Robert M. Glaser ’68 Scholarship (2000)
Goldome Foundation Inc. Scholarship (2002)
Carl J. Graf, M.D. ’39 Scholarship (1980)
Irene A. Grandits Memorial Scholarship (1971)
Graphic Controls Corp. Scholarship (1984)
Great Lakes Custom Brokerage, Inc. Scholarship (2004)
Dr. Edward J. Gress Scholarship (1994)
Arthur L. ’30 & Marie A. Grupp Scholarship (1995)
Everest A. Guest Scholarship (1976)
George & Ella Haberl Scholarship (1982)
Leland A. Hazard Scholarship (1986)
William Randolph Hearst Scholarship (1998)
Rita D. Heffernan Scholarship (2003)
Hoskins Family Foundation Scholarship (1997)
Martin F. Idzik ’63 Scholarship (1998)
Genevieve B. Jacobs Family Scholarship (1976)
Harry R. James ’70 Memorial Scholarship (1992)
Frank J. Janes / Ernest S. LaFranier Families Scholarship (1995)
Gene F. Jankowski ’55 Scholarship (1981)
Abelinda & Anthony Jerussi Scholarship (2004)
Jesuits of Loyola Hall Scholarship (1988)
Dr. James P. Jordan ’22 Memorial Scholarship (1986)
Norman, Saide L. & Bedie N. Joseph Scholarship (1985)
Stephen & Katherine Juhasz Family Scholarship (1995)
Marvin L. Kahn Scholarship (1992)
Edward F. Kane ’33 Memorial Scholarship (1997)
Dr. William F. Kean Memorial Scholarship (1989)
Thomas F. Killeen ’25 Memorial Scholarship (1996)
Eileen Hogenkamp Klubek ’90 Scholarship (1995)
Jean A. Knaszak Scholarship (1991)
Knopp Family Scholarship (1998)
John W., Jr. ’49 & Mary M. Koessler Scholarship (1997)
Mary R. Koessler Scholarship (1991)
Elizabeth N. Kolber ’72 Scholarship (1993)
Paul J. ’75 & Nancy B. Kolkmeyer Scholarship (1998)
KPMG LLP Scholarship (1994)
Matthew L. Kruse Scholarship (1981)
Hon. John J. LaFalce ’61 Scholarship (1990)
Thomas D. ’77 & Deborah W. ’78 Leaper Scholarship (1999)
Rev. Charles W. Lehmkuhl, S.J. Scholarship (1995)
Hubert George & Alice Shyne Leising Scholarship (1998)
Lenahan Family Scholarship (1998)
R. Scott Lesher Scholarship (1991)
Lillian M. Levey ’67 Scholarship (1989)
Mary R. Lombardo ’50 Scholarship (1997)
John J. & Eleanor Loncto Scholarship (1997)
Stephen T. LoVullo ’74 Scholarship (2004)
Bess Nowicki Luchowski Scholarship (1995)
Lumsden & McCormick, LLP Accounting Scholarship (1996)
M&T Bank Accounting Scholarship (1992)
Thomas C. Mack ’61 Scholarship (2004)
Walter & Marie Maday Scholarship (1982)
Louis & Theresa Maglione Scholarship (1987)
Frank J. Maher, Jr. ’43 Memorial Scholarship (1998)
Dr. Milford C. ’47 & Dione Maloney Scholarship (2000)
Robert A. Mariano Family Scholarship (1987)
Dr. Bernard L. Martin Scholarship (1978)
George M. Martin ’42 Student Grant Program (1990)
Rev. Peter J. Martin, S.J. ’30 Memorial Scholarship (1993)
Matthews, Bartlett & Dedecker, Inc. Scholarship (1992)
MBA Alumni Scholarship (1986)
James H. McCabe ’71 Family Scholarship (1998)
Dr. James P. McDermott Memorial Scholarship (2002)
Francis M. McDonald ’42 Memorial Scholarship (1997)
Mary G. McGillicuddy ’66 Family Scholarship (1998)
Joseph H. Melant, M.D. ’39 Memorial Scholarship (1998)
Dr. Raymond R. Meyers ’32 Memorial Scholarship (1991)
Ben Michelson Scholarship (1998)
William P. Montague Family Scholarship (1991)
John M. Montfort ’51 Memorial Scholarship (1990)
William C. ’68 & Patricia A. ’88 Moore Family Scholarship (1998)
Wilfred K. Moran Scholarship (1986)
Michael T. Morrisey Memorial Scholarship (2001)
William W. Moyer ’72 MBA Scholarship (1997)
Musarra-DuCouet Families Scholarship (1980)
John D. Naples, M.D. ’24 Scholarship (1992)
Joseph J. Naples ’41 Scholarship (1996)
Native American Scholarship (1992)
Richard & Evelyn Naughton Scholarship (2002)
Stella Nawrocki Scholarship (2000)
Harrison R. Naylor ’55 Scholarship (2003)
Hugh M. ’55 & Marilyn L. Neeson Scholarship (1998)
Richard A. Neil ’64 Family Scholarship (1991)
David & Marianne Nettina Scholarship (2001)
Louis & Antoinette Neubeck Scholarship (1989)
Professor Edwin L. Neville Graduate Scholarship (2000)
New York State Federation of Home Bureaus Scholarship (1991)
Nosek Family Scholarship (1997)
Ethel O’Brien Scholarship (1980)
Occidental Women’s League WISE Scholarship (1990)
Joseph M. ’46 & Mary K. O’Connell Scholarship (1990)
John R. Oishei Foundation Scholarship (1968)
Oncologic Foundation of Buffalo Scholarship (2000)
Thomas H. O’Neill, Sr. Scholarship (1994)
Msgr. Basil A. Ormsby ’42 Scholarship (1988)
R. John Oshei Memorial Scholarship (1992)
Palisano Endowment Education Fund (1998)
Vincent & Harriet Palisano Religious Vocation Fund (1988)
Pawenska Family Scholarship (2001)
Perna-Greenwald Family Finance Scholarship (1992)
Petrina Family Scholarship (1998)
James T. Pfeiffer ’67 Scholarship (1999)
James F. Phillips, M.D. ’43 Scholarship (1998)
Donald C. Pollock ’68 / Freed Maxick & Battaglia Scholarship (1994)
Joseph H. Porto ’69 Accounting Scholarship (1998)
Richard P. Powers ’63 Scholarship (1994)
Alice Ren Poynton & Walter Poynton Scholarship (1995)
Price Waterhouse Norton R. Lowe Scholarship (1992)
Ronald A. Raccuia ’90 Family Scholarship (2002)
Frank G. Raichle Pre-Law Scholarship (1981)
Rev. Harry A. Reese, S.J. Memorial Scholarship (1997)
Wayne R. Reilly Family Scholarship (1997)
Joseph J. Ricotta, M.D. ’41 Memorial Scholarship (1995)
C. Anthony ’73 & Judy Rider Scholarship (1997)
Mary Beth Riley ’91 Scholarship (1992)
Helen G. Rochford ’35 Memorial Scholarship (1997)
Arthur L. Rohmer Pre-Medical Scholarship (1990)
E.J. ’40 & Catherine Rothfuss Scholarship (1998)
Vincent G. Roux ’90 Scholarship (1998)
Rev. James J. Ruddick, S.J. Scholarship (1995)
Melvin E. Rupp, Sr. Scholarship (1985)
Louis Russo Family Scholarship (1991)
Frank J. Rustich ’35 Scholarship (1987)
James J. Rzad ’70 Scholarship (2005)
Leo & Catherine Sauer Scholarship (1974)
Leo & Lucy Scarpino Scholarship (1986)
Tuby L. Scarpino ’36 Scholarship (1991)
Dr. Arthur J. ’43 & Elizabeth A. Schaefer Scholarship (1994)
Marjorie G. Schaefer Memorial Scholarship (1990)
Thomas J. Schillo Memorial Scholarship (1986)
George A. Schneider Memorial Scholarship (1997)
J. Frederick Schoellkopf, IV Scholarship Awards in Management Studies (1970)
Dr. George E. Schreiner ’43 Family Pre-Medical Scholarship (1990)
Joanne B. & Dr. George E. Schreiner ’43 Scholarship (1987)
Georgia Suzanne Schreiner Scholarship (2005)
Robert Prince Schreiner Memorial Scholarship (1999)
Schwartzott Family Scholarship (1997)
Frank A. Sedita ’30 Scholarship (1980)
Austin V. & Lillian J. Signeur Scholarship (1992)
Robert J. Slater ’59 Scholarship (1987)
Thomas G. Smith ’71 Scholarship (1997)
Tim Smith Baseball Scholarship (2002)
Vincent Sobierajski Scholarship (1991)
Stanley P. Spisiak Scholarship (1984)
Robert T. ’51 & Marion Staebell Scholarship (2000)
Starling/Stachowski ’70 Scholarship (1996)
Dr. Daniel P. Starr ’58 Athletic Scholarship (2000)
Chester Stranczek Scholarship (1998)
Robert J. Stransky Scholarship (1998)
Luke J. ’30 & John L. ’61 Strauss Scholarship (1987)
Charles A. & Pauline P. Suchan Family Scholarship (1982)
Lester J. Suess ’26 Scholarship (1985)
Albert F. Swierat, CPA ’46 Scholarship (1991)
Harlan J. Swift Scholarship (1987)
Stanley P. Szymanski Scholarship (1996)
Reginald B. Taylor Scholarship (1982)
William C. ’73 & Judith L. Thuman Scholarship (2004)
Towne Automotive Dealerships Scholarship (1981)
Treanor Family Scholarship in Memory of Wm. Patrick Treanor ’95 (1998)
Sgt. Hans J. Treutel Scholarship (1987)
Tuscarora Tribal Business Council Scholarship (1993)
Howard J. Van Nortwick ’34 Scholarship (1988)
Lawrence J. Vilardo ’77 Family Scholarship (1998)
Philip A. Warner & Helen B. Warner Scholarship (1998)
Eileen & Rupert Warren Scholarship (1992)
Dr. Marilyn G.S. Watt Memorial Scholarship (1993)
Leslie Jo Waytena ’81 Memorial Scholarship (1994)
Lawrence A. Wien Scholarship (1985)
Ralph C. Wilson, Jr. Sports Scholarship (1994)
Richard E. Winter ’42 Scholarship (1997)
Morton H. ’66 & Carol A. Wittlin Scholarship (1994)
Lee C. Wortham & Family Scholarship (2000)
Robert W. Wunsch, Jr. ’76 Family Scholarship (1987)
Mary Lou & Robert E. ’56 Yoviene Scholarship (1998)
Rose C. Zaidel Scholarship (2001)
Edna Galvin Zeman Scholarship (1982)
Margaret M. Zeman Scholarship (2000)
Margaret Griffin Zoll Memorial Scholarship (2003)
Alfred J. ‘39 and Mary T. Zolner Memorial Scholarship (1998)

Education Loans
A loan is money the student borrows. It must be paid back. A loan is a serious obligation. Students should borrow only what they need. Education loans are for tuition and fees, room and board, books, transportation and personal expenses.

An education loan cannot exceed the student’s total educational costs minus other student financial aid and, if required, a family contribution. Education loans have lower interest rates than most other types of loans.

There are three loan programs administered by the New York State Higher Education Services Corporation.

• Federal Stafford Student Loans (subsidized)
• Federal Stafford Student Loans (unsubsidized)
• Federal Parent Loans for Students (Federal PLUS)

The loan money is provided by banks, credit unions, savings and loan associations, and pension funds in New York State.

Federal Stafford Student Loans
(subsidized & unsubsidized)
Federal Stafford Student Loans are available to undergraduate and graduate students with demonstrated financial need.  The maximum loan amounts available to undergraduates are as follows:

PLEASE NOTE: a combination of subsidized and unsubsidized Federal Stafford Loans cannot exceed the class year limits listed above for dependent students.

The total undergraduate Federal Stafford amount (both subsidized and unsubsidized combined) cannot exceed $23,000.

Independent undergraduates may borrow up to an additional $4000 for their first and second years and $5000 for their third, fourth, and if necessary fifth year of study through the Federal Unsubsidized Loan Program. Students are required to pay interest on this loan while they are in school.

How to Get a Loan: The student must submit a Free Application for Federal Student Aid (FAFSA). New student borrowers will receive instructions for on-line processing of the Electronic Master Promissory Note (E-MPN). Previous borrowers will simply receive a guarantee notice in the mail.

Three factors must be considered to determine Federal Stafford Loan eligibility: educational costs, other financial aid the student will receive and the expected family contribution as determined through an approved needs-analysis system. Therefore, all students must submit a FAFSA before the Federal Stafford Loan application can be processed. The school must report these figures to the lender and certify the student’s enrollment status.

A loan is usually for a single academic year. Applications for additional loans for successive years must be made to the same lending institution. Prior to graduation or withdrawal, the student should complete a loan exit interview. The purpose of this interview is to explain the rights and responsibilities, including repayment obligations.

Paying Back a Loan: The student is responsible for:

1. Repayment of the amount borrowed
2. Interest on the amount borrowed
3. Fees paid at the time he/she receives the loan check

When a student gets a loan, the terms of repayment are explained. Students must be sure that they understand all repayment terms before signing the loan’s promissory note. If the student fails to meet these terms, he/she is in default and the entire balance of the loan becomes due.

Costs: The interest rate for all Federal Stafford Loans on which the first disbursement is made on or after July 1, 1994 (regardless of any previous loan history) will be the current variable rate. For subsidized loans, there are no interest payments while the student is in school and for six months afterwards. Students who borrow through the unsubsidized Federal Stafford Loan must begin to pay the interest while in school. Fees are 3 percent of the amount borrowed. The fees are due when the student is issued the check. The bank will reduce the check by the amount of the fees.

Federal Parent Loans for Undergraduate Students (Federal Plus)
These loans are for parents of financially dependent undergraduate students. Parents may borrow up to the cost of attendance minus financial aid per year per child. A student should apply for a Federal Stafford Loan before the parent applies for Federal PLUS. PLUS pre-approval forms are available in the Financial Aid Office.

Costs: Annual interest is variable. For all Federal Parent Loans approved, an origination fee of 3 percent will be charged. The fee is due when the parent is issued the loan check. The bank will reduce the check by the amount of the fee.

Repayment: Repayment of the amount borrowed plus interest begins on the day the loan is disbursed. The minimum monthly payment is $50. Repayment must be completed within 5-10 years depending on how much the parent borrowed.

Peter Canisius Loan: The Peter Canisius Loan Fund is an institutional program established to assist Canisius students who are ineligible to borrow from the Federal Perkins Loan Program and the Federal Stafford Student Loan. Full-time undergraduate and graduate students may borrow up to $3,000 per year. Part-time students are eligible to borrow up to one half of the maximum amount per year. One co-signer is required of each applicant. The credit ratings of the co-signer and the borrower must be approved before the loan is disbursed. Repayment of the loan, with an annual percentage rate of 5 percent, begins nine months after the borrower graduates or terminates study. The maximum repayment period is ten years, but it is adjusted according to the size of the individual loan.

Financing Options
The following options are available to assist students and their parents in financing a Canisius education:

1. Griffin Tuition Payment Plan: This plan allows parents to budget tuition payments over a full academic year. An annual fee of $50 is charged. Further information is available at the Financial Aid Office or the Office of Student Accounts;
2. Canisius College Installment Loan: A student who is unable to pay his/her bill in full by the due date may pay the balance in monthly payments by signing a 3-month/3-payment semesterly Installment Loan. Installment Loans are subject to an administrative fee, ranging from $30 to $195 depending on the amount of the outstanding balance; and
3. Home Equity Loan: The Tax Reform Act of 1986 allows interest to be deductible if it is on a debt secured by a residence, up to the value of the residence (purchase price and improvements plus any amount incurred after August 16, 1986) for “qualified medical and educational expenses.” This provision allows homeowners to retain the option of subsidizing loans for their children’s education by deducting interest payments on these loans.

Other Information
Awards Notification: Freshmen applicants who submit all necessary forms by February 15 are notified by the Student Financial Aid Office by April 1, or before the May 1 Candidate Reply Date. Upperclassmen and graduate students who submit applications by April 15 receive award notices by July 1.  Students submitting applications after April 15 are notified as soon as possible.

Over-Awards: Each year a number of financial aid recipients are “over-awarded.” As a result, checks are withheld, and, in some cases, students are billed for funds already disbursed. This problem arises because of the length of time needed to match funds from various institutional sources and/or outside agencies against the individual student’s record. To avoid this problem, students are urged to notify the Student Financial Aid Office promptly when they receive additional funds from any source not listed in their award letters, or when a student changes his/her enrollment status.

Financial Aid Check List: To be evaluated for possible financial aid, the student must submit the following forms each academic year:

1. Free Application for Federal Student Aid (FAFSA) and a TAP application. These applications are available in high school guidance offices, on-line at www.fafsa.ed.gov, or in the Canisius College Student Financial Aid Office. The TAP application is available to New York State residents once the FAFSA has been submitted by visiting the New York State TAP link on the on-line FAFSA site or by visiting Anytime TAP at www.hesc.com;
2. Canisius College Financial Aid Application, available in the Canisius College Student Financial Aid Office; and
3. If requested, Federal Income Tax 1040 Form (parents and student) for the previous calendar year when available and/or letter from Social Services, Social Security, or Veterans Administration or other requested verification of income including child support.

Items 2 and 3 should be returned to the Canisius College.  Student Financial Aid Office. The others are to be sent to the address on the application. Students are reminded that financial aid awarded for the freshman year or any other year does not guarantee aid for the following year. Students must re-apply for financial assistance each year.

Financial Assistance Information for Students: Section 485 of the Education Amendments of 1998 legislates that institutions participating in Title IV Student Aid Programs shall provide prospective and enrolled students with information
about student aid at their respective institutions.

Canisius College has a Student Financial Aid Policy and Procedures Manual which is updated periodically. This manual describes the following:

1. Institutional, federal, and state student aid programs available at Canisius;
2. Procedures for awarding student aid at Canisius;
3. Application processes and deadline dates for the various student aid programs;
4. Student rights and responsibilities under the appropriate student aid programs;
5. Appropriate budgets, outlining an estimated cost of attendance, which includes tuition, fees, books and supplies, room and board on campus and other related costs;
6. Institutional refund policy; and
7. Academic standards needed to retain financial eligibility.

The Student Financial Aid Office (Old Main 100) will provide the above financial aid information upon request. Information pertaining to academic programs, special services available to the handicapped and institutional accreditation is explained elsewhere in the college catalog.

Satisfactory Academic Standing
To receive student financial aid, a student must remain “in Good Academic Standing.” This means that students must: (1) make satisfactory academic progress toward the completion of their program requirements and (2) pursue the program of study in which they are enrolled. The two elements of program pursuit and satisfactory academic progress must be met for each term of study in which an award is received.

NOTE: These standards are subject to change upon legislative changes by New York State and/or the federal government.

Satisfactory Progress: A student must acquire a minimum number of credits at each semester interval and a minimum cumulative G.P.A. Students must meet the following satisfactory progress standards based on a 4.0 grading system:

Undergraduate:

Before being certified for aid for this semester:
1st		2nd		3rd		4th		5th		6th		7th		8th		9th		10th
A student must have accrued at least this many graded credits:
0		3		9		21		33		45		60		75		90		105
With at least this Cumulative Quality Point Average:
0		1.0		1.2		1.3		2.0		2.0		2.0		2.0		2.0		2.0

For example:
Student A has accumulated 18 hours and has a 1.2 G.P.A. She is entering her fourth semester and fourth payment of aid and needs 21 hours and a 1.3 G.P.A. She is ineligible for New York State student aid because she does not meet the satisfactory progress requirements.

Program Pursuit: A student must receive a passing or failing grade in a certain percentage of a full-time course load. The percentage increases from 50 percent of the minimum full-time load in each semester of study in the first year for which an award is made, to 75 percent of the minimum full-time load in each term of study in the second year for which an award is made, to 100 percent of the minimum full-time load in each term of study in the third and each succeeding year for which an award is made. Grades of W (indicating a student’s withdrawal from a course) do not satisfy Program Pursuit requirements.  Full-time students must meet the following requirements for Program Pursuit:

Undergraduate:

Waivers: If a student fails to maintain program pursuit, fails to make satisfactory progress, or fails to meet both of these elements of good standing, the college may grant a waiver which would allow the student to receive financial aid for the next semester. A maximum of one waiver at the undergraduate level and one at the graduate level may be awarded to a student. The waiver will not be automatic since it is intended to accommodate only extraordinary cases. Waiver policies are somewhat different for aid received under federal Title IV programs and aid received under New York State programs.

Federal Programs: Each student’s progress will be evaluated every semester. Students will be required to meet the academic standards as outlined in the college catalog.

However, Canisius College will allow “all students a one-time probationary period” following their first adverse determination of satisfactory progress. During this probationary period, the students still will be considered to be maintaining satisfactory progress and are eligible for federal Title IV funds. The fact that a student was placed on probation must be made a part of his or her record.” (Source: official Federal Regulations) A one-time probationary period is defined as one academic semester.

Students not meeting satisfactory academic progress or program pursuit requirements will be placed on financial aid probation status for the ensuing semester of the student’s enrollment. Students will be allowed to retain their financial aid during the probationary semester.

Financial aid suspension will occur following the semester of probation if the student fails to meet the required academic standards. Reinstatement of aid will occur when the minimum standards have again been earned. Students may use summer classes (at their own expense) to improve their academic records sufficiently to reinstate their eligibility for financial aid.  Only courses taken at Canisius College will affect a student’s G.P.A. Students must complete the requirements for a degree within 150% of the normal time allotted for program completion or within a maximum of six years.

The following aid programs are subject to the conditions
described above:

• Federal Pell Grant
• Federal Perkins Loan
• Federal Supplemental Educational Opportunity Grant (FSEOG)
• Federal Work Study (FWS)
• Federal Stafford Student Loans (subsidized and unsubsidized)
• Federal Parent Loan for Undergraduate Students (Federal PLUS)

New York State Programs: A waiver will be granted if situations beyond a student’s control prevent the student from maintaining satisfactory academic progress or program pursuit. These situations must be documented.

The waiver will be granted only when there is reasonable expectation that the student will be able to meet the successive steps for financial aid eligibility as specified in the tables above.

Reasons for which waivers may be granted include:

1. personal medical problems;
2. family medical problems;
3. severe personal problems; and
4. other circumstances beyond the control of the student.

Any student wishing to request a waiver must submit to the associate dean of his/her division a written statement detailing the reasons why special consideration should be given. (A statement simply requesting a waiver is insufficient.) The written statement must be postmarked no later than ten calendar days after the date of the notice of loss of financial aid eligibility. Documentation supporting the stated reasons for special consideration must be provided and should be included with the written statement or should be forthcoming from appropriate third parties or agencies. The student is responsible for requesting that all documentation be sent or brought to the associate dean. Documentation should indicate that the student’s problems have been directly responsible for his or her inability to meet the satisfactory progress and/or program pursuit requirements.

The appropriate associate dean will review the student’s written statement and supporting documentation. If additional information is needed, the associate dean may require an appointment with the student. A student will be informed of the associate dean’s decision within seven calendar days of receipt of the student’s written request. The associate dean will confer with any student being granted a waiver to assure that the student is fully aware of his/her situation and that the student concurs with the granting of the waiver. The associate dean’s decision on the waiver request is final.

Award programs affected by this policy at Canisius College include the following student aid programs:

• Empire State Scholarship for Excellence
• Tuition Assistance Program (TAP) Aid to Part-Time Students (APTS)
• Children of Deceased and Disabled Veterans (CV) Award Children of Deceased State Correction Officers, State Civilian Employees of a Correction Facility (AT), and Fire Fighter Award
• Higher Education Opportunity Program (HEOP)
• Vietnam Veterans Tuition Award

Reinstatement of Canisius’ own institutional aid rests with the discretion of the Student Financial Aid Committee.

Part-Time Students: Part-time students may receive financial aid for up to twelve years, except when certain program limits have been reached. During each academic year of attendance as a part-time student, the student must maintain a cumulative quality point average comparable to that required of a full-time student, along with a comparable number of credits accumulated toward a degree. (See chart above.)

Summer School: Students who lose eligibility for financial aid at the end of an academic year can sometimes make up the deficiency by attending summer school at their own expense. The Financial Aid Office should be consulted regarding the student’s intention to do so and should be supplied with a transcript of grades after the completion of courses. Only courses taken at Canisius will affect a student’s quality point average.