FINANCIAL AID PROCESSES AND POLICIES
APPLY FOR FINANCIAL AID
1. Create an FSA ID
Apply for a Federal Student Aid ID (FSA ID) to electronically sign your FAFSA. fsaid.ed.gov
2. Submit a FAFSA
Complete the Free Application for Federal Student Aid. fafsa.gov (Davis College’s school code is 015291)
3. NYS Tuition Assistance Program
New York State residents should apply for New York State’s Tuition Assistance Program (TAP) at www.hesc.ny.gov. (Davis College’s TAP code is 2265) Please note that only students enrolled at the Main Campus are eligible for TAP, and those enrolled in the BRE cannot qualify for TAP their senior year.
4. Apply for Scholarships
Review and apply for Davis College Scholarships. View scholarships available.
5. Federal Direct Loan Borrowers
All Federal Direct Loan Borrowers must complete the Entrance Counseling and a MPN at studentloans.gov. This is your promise to the lender to repay your student loan. Instructions:
- Sign in using your FSA ID.
- Click on Complete Master Promissory Note link and then choose Subsidized/Unsubsidized.
- Fill in all necessary information to complete.
- Click on Complete Entrance Counseling and answers all questions until counseling is complete.
6. Confirm Your Award
Once all paper work is complete, you will receive a financial aid package of all of the aid that you qualify for. Be sure to confirm your loan amounts. Contact the Financial Aid Office if you have questions or wish to decline any of the aid offered.
ADDITIONAL QUESTIONS
If you have additional questions regarding your financial aid please contact the Financial Aid Office.
FINANCIAL AID LINKS AND VERIFICATION FORMS
VERIFICATION PAPERWORK
The Department of Education selects students for a process called verification. If you have been notified by the Financial Aid Office that you were selected you will need to complete a form and update your FAFSA using the IRS Data Retrieval tool. For more information about verification including the forms required click here.
FEDERAL DIRECT LOAN EXIT COUNSELING
All students who are graduating or withdrawing from Davis College should also complete Exit Counseling at studentloans.gov if they have a student loan. The student must provide his or her current name, address, social security number, and two references. The student must also provide his or her expected permanent address, the name and address of his or her expected employer (if known), and the address of his or her next of kin.
ADDITIONAL LINKS
NYS Higher Education Services Corporation (online TAP application, college planning tools)
FINANCES AND FINANCIAL AID POLICIES
All miscellaneous fees are non-refundable. Refunds on room and board will be prorated weekly, based upon the length of time the student has been enrolled. Students who officially withdraw from classes will be entitled to tuition refunds on the following basis:
FULL TERM 15 WEEK COURSE:
- Week 1 – 100%
- Week 2 – 75%
- Week 3 – 50%
- Week 4 – 25%
- Week 5 and after – 0%
8 WEEK COURSE (ONLINE COURSE):
- Before the course begins – 100%
- Week 1 – 75%
- Week 2 – 40%
- Week 3 and after – 0%
5 WEEK COURSE:
- Before the course begins – 100%
- Week 1 – 50%
- Week 2 – 50%
- Week 3 and after – 0%
1 WEEK OR INTENSIVE MODULE COURSE:
- Up to 7 days before the course starts – 100%
- 1-6 days before the course starts – 75%
- Day 1 – 50%
- Day 2 or after – 0%
ADDITIONAL RESOURCES
Students can officially withdraw by completing the Official Withdrawal Form. If you live in Maryland your refund policy may be different.
RETURN OF TITLE IV FUNDING POLICY
If students withdraw from the College before completing 60% of the semester, federal funds may need to be returned to the U.S. Department of Education or to a student loan lender. Federal fund amounts to be returned are based on the percentage of time completed. The Office of Financial Aid uses the formula established by the U.S. Department of Education to determine the amount of funds to be returned. Veteran tuition assistance funds may also need to be returned if the student completes less than 60% of the semester. State aid awards are recalculated by NYS based on tuition charges incurred by the students. Institutional aid is forfeited if students withdraw from all courses during the refund period. Students who withdraw after the last day for a refund can keep all institutional aid already awarded. Returning funds often results in students owing a significant amount of money to Davis College. Students are responsible to pay any remaining balance after financial aid has been returned.
CHANGE IN ENROLLMENT STATUS
If students change the number of credits enrolled in (either an increase or decrease) during the semester resulting in change to financial aid eligibility, financial aid will be recalculated up through the end of week 4 for 15 week courses or through the end of week 2 for 8 week courses. For any other length course, no recalculations will be made after the last day students are eligible to receive a partial tuition refund. After this point, no changes to the enrollment status for financial aid purposes will be made.
