Applying for Financial Aid
Families may need to explore financial aid in the form of grants, loans, scholarships and work study to help finance their college student’s education. Paul Smith’s Financial Aid Staff is committed to helping you and your family in evaluating your options.
How do you apply for aid? The first thing you need to know are these five letters: F-A-F-S-A. They stand for the Free Application for Federal Student Aid. FAFSA is the federal form that’s used to determine the amount a family should be able to pay for college. It’s definitely worth filling out a FAFSA online, even if you don’t think you’re eligible for need-based aid.
Because this is the only way to potentially land a piece of the more than 80 billion dollars the federal government provides in grants, loans and work-study programs each year to college students.
Benefit at Paul Smith’s College by completing the FAFSA
Based on your successful completion of the FAFSA, you may be eligible for:
- Grants -- money that does not have to be repaid
- Loans -- borrowed money that must be repaid
- Federal Work Study (FWS) -- money earned by working a part-time job on campus
- Scholarships -- free money, awarded by Institution or outside source
Important: To receive the best financial aid funding available, submit your FAFSA as soon as possible to Paul Smith’s College as soon as possible. If tax information is not ready, simply estimate and update with actual numbers later using the IRS Data Retrieval process, if eligible.
NEW YORK STATE RESIDENTS: “TAP” into additional aid
If you’re a resident of New York state and are or will be an undergraduate student, you MAY be eligible for Tuition Assistance Program (TAP) awards. After filing your FAFSA, you will be able to link directly to the TAP application from the FAFSA confirmation page.
You must include Paul Smith’s school codes or you will not be eligible for TAP. TAP codes 2140 (2 year program) and 6140 (4 year program).
To remain eligible for state and/or federal financial aid, you must maintain Satisfactory Academic Progress (SAP).
How to complete the FAFSA
- You (and one of your parents or guardians) need to request a Federal Student Aid Pin (FSA ID) from the U.S. Department of Education. With a FSA PIN you can apply and “sign” the FAFSA online, check the status of your submitted FAFSA, and make corrections or revisions. The FSA ID will also be used to e-sign legally binging documents online. Create an FSA ID now
- Make sure you have your Social Security number (SSN) available. Your application will not be processed without it!
- Use the FAFSA worksheet, available online www.fafsa.ed.gov; this tool will help you gather the information needed on the official FAFSA.
- Submit your FAFSA online at http://www.fafsa.ed.gov.
- Make note of state and college deadlines because these can differ from the federal deadline. Also, some colleges may require an additional financial aid application.
- Paul Smith’s College code is 002795
Applying for Federal Student Aid (FAFSA) is free, quick and easy to do as long as you’re organized and have the necessary documents at-hand when filling out the application form. You can even get an early estimate of your financial aid eligibility with our Net Price Calculator.