Other Financial Support

If your financial aid funding has not been received, or you experience a true emergency due to fire or natural disaster, medical emergency costs, or other unforeseen circumstances, short-term loans are available at no interest. For additional information on short-term loans, or to apply contact the Office of the Bursar.

Emergency Loan Funds

These funds are only used to assist students with true emergencies such as emergency medical or health costs; transportation breakdowns; costs associated with fire or natural disaster; or travel costs due to the death of an immediate family member.

• Emergency loans may be made at the discretion of the director, assistant directors, or financial aid examiner of the Financial Aid office.
• Applications for loans will only be reviewed if the student is currently enrolled.
• Emergency loans will not be made to individuals who are currently on a financial default list.
• Maximum loan amounts depend on the source of funds, but in any event, no loan shall be for more than $200.
• The duration of the emergency loan note shall not exceed 30 days or the end of the semester, whichever comes first.
• If a loan is not paid by the due date, a financial hold will be placed on the student account.
• The student shall be responsible for all collection charges incurred in the process of securing the payment of the loan.
• Emergency loans will only be authorized for true personal emergencies. In each case, the need for the funds must meet the criteria of being unexpected or beyond the control of the applicant. Examples might include:
  • Transportation cost associated with serious illness or death involving an immediate family member.
  • Emergency medical or health costs.
  • Transportation breakdowns.
  • Replacement costs associated with fire or natural disaster.
   
• Emergency loans will not be authorized for the following types of expenses:
  • Normal cost-of-living expenses, car payments, rent, utilities, clothing, food, and medical expenses.
  • Entertainment costs.
  • Towing charges associated with illegal parking.
  • Normal and expected educational supplies. 
   
• A student may not receive a second loan until the first has been repaid.
• Reasonable exceptions to these guidelines may be made at the discretion of the bursar, assistant bursar, director of financial aid, assistant directors of financial aid, or financial aid examiners. 

For additional information on short-term loans, or to apply contact the Office of the Bursar.

The 529 College Savings Program

It’s never too early to start thinking about saving for college. A 529 college savings program is a tax-advantaged savings plan that enables you to invest for college free of federal and, sometimes, state income taxes.* You can use this investment to pay for tuition, room and board, books, supplies, and other qualified higher education expenses.

To learn more about the 529 College Savings Program, go to the New York State Higher Education Services Corporation (HESC) at www.hesc.com.

*Earnings on non-qualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements. 

The Hope Tuition Tax Credit

A family may claim a tax credit up to $1650 for each eligible dependent for up to two tax years subject to a phase-out at $110,000 of income for married taxpayers and $55,000 for single filers. The Hope credit is available only until each student’s first two years of postsecondary education are complete.