Financial Aid for Future Students
Students who are accepted to Paul Smith’s College should file a FAFSA form prior to March 1stof their enrollment year. After the FAFSA form is received, all accepted students will receive a detailed financial aid award letter. The financial aid award letters will be sent starting in March of the year you will be enrolling. Your FAFSA experience will start with signing up for your personal identification number (PIN) at www.pin.ed.gov
All returning students applying for Federal Student Aid should plan to re-apply for FAFSA by May 1 of their current school year. You will need your PIN number to reapply.
Your FAFSA will serve as an application for the following programs:
- Federal Grant Programs, including PELL and FSEOG
- State Grant Programs
- New York State Tuition Assistance Program (TAP) for NY residents
- Vermont Student Assistance Corporation (VSAC) for Vermont residents
- Federal Perkins Loans
- Federal Direct Stafford Loans
- Subsidized is based on financial need. The federal government will pay the interest in the loan while you are enrolled in school at least part-time, and through the six month grace period after you leave or graduate from school. A signed copy of the financial aid award letter is required to activate this loan.
- Unsubsidized is not based upon financial need and you can either pay the interest on a month-to-month basis, quarterly or added to the principal loan amount. A signed copy of the financial aid award letter is required to activate this loan.
- If this is your first time receiving a direct loan, you will be required to complete the following online at www.studentloans.gov:
- Entrance Counseling – A tool to ensure you understand your obligation to repay the loan.
- Sign your Master Promissory Note (MPN) agreeing to the terms of the loan.
- Federal Work-Study
- Federal Direct Plus Loan is a low interest student loan for the parents of a dependent undergraduate student who is enrolled in college at least part-time. The interest rate is fixed, and there is a net fee that is deducted from each disbursement. To request the Federal PLUS loan, go to www.studentloans.gov. The parent requesting the PLUS loan must sign in with their information and Federal PIN.
Note: Federal Perkins Master Promissory Note (MPN) only needs to be completed once to cover all Federal Perkins Loans you will receive while at Paul Smith’s. For Perkins Loans, there is a nine month grace period for repayment following graduation, withdrawal or dropping below part-time. A signed copy of the financial aid award letter is required to activate this loan.