Below you will find links to our Financial Aid Office Contacts, Office Hours, the Concordia College- New York Loan Code of Conduct, Satisfactory Academic Progress for Financial Aid Recipients and Loans.
Concordia College-New York requires that all students who are interested in receiving financial aid complete the Free Application for Federal Student Aid (FAFSA). Concordia's priority deadline to apply for Financial Aid is April 1 for new students, and April 15 for returning students.
Steps to completing and submitting a FAFSA:
- You and your parent will need a FAFSA PIN in order to sign electronically. Obtain a PIN at http://www.pin.ed.gov. It will take 1-3 days to process the PIN.
- Complete a FAFSA online at https://www.fafsa.ed.gov. The FAFSA is available beginning January 1. It is important to file the FAFSA as soon as possible.
- Have both student and parent Social Security Numbers, 2010 Federal Tax Returns, and any statements of assets available as you complete the application. If taxes have not yet been completed - do not delay filing the FAFSA. Use estimated figures, which can be updated once the taxes are complete.
- Concordia's Federal School Code is 002709.
- If you are a New York State resident, upon completion of the FAFSA, apply for the New York State Tuition Assistance Program at https://www.tapweb.org/totw. A link will be provided once the FAFSA has been submitted.
Once you have submitted your FAFSA:
The Financial Aid Office will review the results of your FAFSA and contact you to request any additional information.
New Students: Financial Aid award packages are mailed approximately 2-3 weeks following your acceptance letter, beginning late February. Once you receive your award package, follow the instructions to accept your awards.
Returning Students: Financial Aid award packages are sent electronically following the end of the Spring semester. Once you receive the award package, follow the instructions to accept your awards.
Documents and Links:
Income Verification: If your FAFSA has been selected for Income Verification, you must provide the following documents to the Financial Aid Office for review:
- Completed Income Verification Worksheet (Dependent or Independent Student)
- Signed copy of Federal Income Tax Forms and W-2 forms
Special Circumstances Review Form
FInancial Aid Explanation Page
Declaration of Church Work Intent
Link to LCMS District Aid Application
Net Price Calculator:
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Grants and Scholarships
Concordia Grant Aid and Scholarships are available to full-time, matriculated undergraduate students. In order to be considered for a grant or scholarship, students must complete the FAFSA. Click here for more information about Concordia's scholarship and grant awards.
Student Loans
Concordia participates in the Federal Direct Loan Program, administering both Direct Stafford Student Loans and Direct Parent Loans (PLUS). In order to receive Federal Direct Loans, students must complete the FAFSA. Click here for more information about Student and Parent Loans.
Work Study
Opportunities to work on- and off-campus are available from the Office of Career Development. Click here for more information. Students may also visit the Career Development Center website.
Payment Plan
For those who find it more convenient to pay on a monthly basis, Concordia offers a payment plan trhough Tuition Management Systems. Please visit the Tuition Management Systems website or contact the Student Account Services office for more information.
Maintaining your Financial Aid
Concordia College has defined, for purposes of student financial aid, "measurable satisfactory academic progress". The following students are affected by this policy:
- New first-year and transfer students enrolled in an undergraduate program
- Continuing students applying for financial aid who have never previously received aid.
Click here to review the complete policy.
Calendar
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Financial Aid News
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Contact Us
The Financial Aid Office is located on the lower level of Feth Hall.
|
8:30am-5:00pm | |
|
10:00am-6:30pm | |
| Name | Title | Phone | Fax |
| Brian Chenoweth | Loan Coordinator | 914-337-9300, x2145 | 914-395-4526 |
| Kenneth Fick | Co-Director | 914-337-9300, x2146 | 914-395-4526 |
| Christine La Porta | Co-Director | 914-337-9300, x2153 | 914-395-4526 |
| Christopher D'Ambrosio | Senior Manager | 914-337-9300, x2136 | |
| Nisha Gregoire | Student Accounts | 914-337-9300, x2115 |
Concordia College-New York Loan Code of Conduct
The Concordia College-New York Financial Aid Office has adopted the following College Loan Code of Conduct:
- Revenue Sharing Prohibition- Concordia College-New York Financial Aid employees are prohibited from receiving anything of value from any lending institution in exchange for any advantage sought by the lending institution.
- Gift and Trip Prohibition- Concordia College-New York Financial Aid employees are prohibited from taking anything of more than nominal value from any lending institution. This includes a prohibition on trips for Financial Aid officers and other College officials paid for by lenders.
- Advisory Board Compensation Rules- Concordia College-New York Financial Aid employees are prohibited from receiving anything of value for serving on the advisory board of any lending institution.
- Preferred Lender Guidelines- Concordia College-New York preferred lender lists are based solely on the best interest of the students or parents who may use the list without regard to financial interests of the College.
- Preferred Lender Disclosure- On all preferred lender lists, Concordia College-New York has clearly and fully disclosed the criteria and process used to select preferred lenders. Students must also be told that they have the ability to select the lender of their choice regardless of the preferred lender list.
- Loan Resale Disclosure- No lender on the Concordia College-New York preferred lender list has an agreement to sell its loans to another lender without disclosing this fact. In addition, no lender may bargain to be a preferred lender with respect to a certain type of loan by providing benefits to a College as to another type of loan.
- Call-Center Prohibition- Concordia College-New York ensures that employees of lenders never identify themselves to students as employees of the college. No employee of a lender is working or providing staffing in the Concordia College-New York Financial Aid Office.
Satisfactory Academic Progress Standards for Financial Aid Recipients
Satisfactory academic progress (SAP) is the term used to define successful completion of coursework to maintain eligibility for student financial aid. Federal regulations require Concordia College-New York to establish, publish and apply standards to monitor your progress towards completion of your certificate or degree program. If you do not meet these standards, you will be placed on financial aid probation or suspension.
Your academic performance must meet the following SAP standards:
Qualitative standard: Represented by your grade point average (GPA). You must maintain a minimum cumulative GPA to remain eligible for financial aid.
Quantitative standard: This standard has two parts. First, you must complete your degree or certificate program within a maximum timeframe, which may vary according to your student status and program. Second, you must successfully complete a required percentage of the credits you attempt. This component is referred to as your credit completion ratio.
See Catalog for more information.
Loans
Federal Direct Stafford Loans are low-interest loans for eligible students to help cover the cost of higher education. To apply for and receive a Stafford Loan, you must complete the following:
- The Free Application for Federal Student Aid (FAFSA). Use FAFSA on the Web at http://www.fafsa.ed.gov/
- Master Promissory Note (MPN) and Entrance Counseling. Complete these online at https://www.studentloans.gov.
Federal Direct Loans include:
- Direct Subsidized Loans
- Direct Unsubsidized Loans
- Direct PLUS Loans
Your loan eligibility may only be determined by the Financial Aid Office after a FAFSA is filed. The type of Stafford Loan and amount of eligibility will be included in your Award Letter.
Federal Subsidized Stafford Loan
- This loan is based on financial need.
- You will not be charged interest before you begin repayment or during deferment periods. The federal government "subsidizes" the interest during these periods.
- Students must be enrolled at least half-time each term.
- The current interest rate is 4.5%
The following schedule shows the annual decreases in interest rates (for loans first disbursed on July 1, 2008).
- 6.0% for loans first disbursed between 7/1/08-6/30/09
- 5.6% for loans first disbursed between 7/1/09-6/30/10
- 4.5% for loans first disbursed between 7/1/10-6/30/11
- 3.4% for loans first disbursed between 7/1/11-6/30/12
To view the fixed and variable interest rates for prior years click here.
Federal Unsubsidized Stafford Loan
- This loan is not based on financial need.
- You'll be charged interest from the time the loan is disbursed until it is paid in full. If you allow the interest to accrue (accumulate) while you are in school or during other periods of nonpayment, it will be capitalized. Meaning, the interest will be added to the principal amount of your loan, and additional interest will be based upon the higher amount.
- Students must be enrolled at least half-time each term.
- The current interest rate is 6.8%
There is a loan fee on all Direct Subsidized and Unsubsidized Stafford Loans. The loan fee is a percentage of the amount of each loan you receive. For loans first disbursed between July 1, 2010 and June 30, 2011 the loan fee is 1.0%.
For more information about Federal Direct Stafford Loans, click here.
Federal Parent PLUS Loan
- This loan is not based on financial need.
- The yearly limit on a PLUS Loan is equal to the cost of attendance munus any other financial aid the student receives.
- Parents of dependent students may apply for a Direct PLUS Loan to help pay their child's education expenses as long as certain eligibility requirements are met.
- Students must be enrolled at least half-time.
- Parents must have an acceptable credit history, or may need to apply with a co-signer.
- The repayment period begins at the time the PLUS loan is fully disbursed, and the first payment is due within 60 days after the final disbursement. The interest rate for a Parent PLUS Loan is fixed at 7.9%. Interest is charged from the date of the final disbursement until the loan is paid in full.
There is a loan fee on all Direct Parent PLUS Loans. The loan fee is 4.0% of the loan amount, deducted proportionately each time a loan disbursement is made.
For more information about Federal Direct PLUS Loans, click here.
Annual Loan Maximums
Effective July 1, 2008.
GRADE LEVEL |
Dependent |
Independent |
||||
Maximum Sub only |
Additional Unsub |
Sub/Unsub Total |
Maximum Sub only |
Additional Unsub |
Sub/Unsub Total |
|
Undergraduate |
||||||
1st year 01 |
$3,500 + |
$2,000 = |
$5,500 |
$3,500 + |
$6,000 = |
$9,500 |
2nd year 02 |
$4,500 + |
$2,000 = |
$6,500 |
$4,500 + |
$6,000 = |
$10,500 |
3rd-5th year 03-05 |
$5,500 + |
$2,000 = |
$7,500 |
$5,500 + |
$7,000 = |
$12,500 |
Aggregate maximum |
$23,000 |
$31,000 |
$23,000 |
$46,000 |
||
The subsidized portion of an undergraduate's loan aggregate may not exceed $23,000. |
||||||
Alternative (Private) Loans
Alternative Loans are available from private lending institutions and are not part of the Federal Direct Loan program. Concordia College encourages students to explore Federal loan programs prior to considering an alternative loan.
Concordia College-New York Code of Conduct
The Concordia College-New York Financial Aid Office has adopted the following College Loan Code of Conduct:
- Revenue Sharing Prohibition - Concordia College-New York Financial Aid employees are prohibited from receiving anything of value from any lending institution in exchange for any advantage sought by the lending institution.
- Gift and Trip Prohibition - Concordia College-New York Financial Aid employees are prohibited from taking anything of more than nominal value from any lending institution. This includes a prohibition on trips for Financial Aid officers and other College officials paid for by lenders.
- Advisory Board Compensation Rules - Concordia College-New York Financial Aid employees are prohibited from receiving anything of value for serving on the advisory board of any lending institution.
- Preferred Lender Guidelines - Concordia College-New York preferred lender lists are based solely on the best interest of the students or parents who may use the list without regard to financial interests of the College.
- Preferred Lender Disclosure - On all preferred lender lists, Concordia College-New York has clearly and fully disclosed the criteria and process used to select preferred lenders. Students must also be told that they have the ability to select the lender of their choice regardless of the preferred lender list.
- Loan Resale Disclosure - No lender on the Concordia College-New York preferred lender list has an agreement to sell its loans to another lender without disclosing this fact. In addition, no lender may bargain to be a preferred lender with respect to a certain type of loan by providing benefits to a College as to another type of loan.
- Call Center Prohibition - Concordia College-New York ensures that employees of lenders never identify themselves to students as employees of the college. No employee of a lender is working or providing staffing in the Concordia College-New York Financial Aid Office.
Here is a list of Alternative Loan providers: