How to Apply for Financial AidBy Vaughn College
Investing in your education is money well spent, but for some students affording college seems out of reach and knowing how to apply for financial aid can be overwhelming. Vaughn College is committed to making their degree programs affordable to students from all walks of life by offering a range of financial aid options to help put them on their path to success. With 90% of its students receiving some form of financial aid, Vaughn is dedicated to working with every student to help them get the assistance they need to pursue their education.
How to get started
All student applications submitted for admission to Vaughn go through two processes to be considered for financial aid.
Merit Aid: All student applications are considered for an academic merit award based on a holistic evaluation of their academic profile. Student credentials that include grade point average (GPA), standardized test scores (SAT and ACT for incoming high school graduates), as well as other academic factors can qualify potential candidates for merit awards ranging from $2,000 to $18,000 per academic year.
Need-Based Aid: All students applying for admission are encouraged to complete the college aid form known as FAFSA (Free Application for Federal Student Aid). This form is filed with the US Department of Education and is used by aid providers to determine the amount of the student’s Expected Family Contribution (EFC)—which is the amount the student’s family can expect to contribute toward their child’s college education.
The amount of aid is then determined by calculating the difference between the cost of the education and the family’s EFC. This gap is covered by offering qualifying students money through Pell grants, scholarships, work-study programs and low interest loans (subsidized and unsubsidized). For those qualifying for a Pell grant, Vaughn offers grants based on financial need, in addition to other forms of financial aid.
In New York State, students can also qualify to receive aid from TAP (Tuition Assistance Program) to help eligible residents pay their tuition at approved schools located in the state.
Another option is a Parent Plus Loan, where parents with established credit can borrow enough money to pay any educational cost (e.g., flight fees) not covered by other financial aid.
When to apply for financial aid
Last fall, the Obama Administration made changes to the FAFSA to allow students to apply for aid beginning October 1, 2016 for the 2017-2018 academic school year. This is three months earlier than in previous years. This new ruling, referred to as prior, prior, allows students to use their parents’ 2015 tax return, meaning their financial aid eligibility will now be based off of income from two years prior to enrolling in college instead of one-year prior—as was the rule up until now.
For transfer students or students enrolling for the spring 2017 semester, the 2016-2017 FAFSA application is still open to apply for need-based aid.
We are here to help
Vaughn’s financial aid advisers offer one-on-one consultations in both English and Spanish and are trained to guide students in making the best decisions on how to apply for financial aid. They are available Monday through Saturday and are also on hand to help students complete their FAFSA applications.
A word from the vice president of enrollment
“We are committed to helping each and every one of our students receive the education they deserve,” said Ernie Shepelsky, vice president of enrollment. “With one of the lowest tuition rates of any private, non-profit college in the country, Vaughn is a stellar choice to launching your career.”
FAFSA application opens October 1: Apply now!