What is financial aid?
Financial aid refers to any funds available to students and/or their parents to help compensate the cost of higher education. Funds come from federal, state, private, and institutional resources.
Who should apply for financial aid?
Any student needing assistance with the cost of higher education should apply for financial aid. Because not all federal aid is based on need, we encourage all students to file the free application for Federal Student Aid (FAFSA) regardless of family income.
When should I apply for financial aid?
You should apply for financial aid as soon as possible after January 1. We recommend that your income taxes are filed before filing your FAFSA. To achieve the best financial aid package, you should complete and submit this information before April 1. You can file the FAFSA application online at www.fafsa.gov.
What is financial need?
Financial need is a formula the government uses to determine how much you should pay toward your own education. We start by adding all of your basic college costs, including tuition, fees, room and board, books, transportation, and personal expenses. We then subtract what you and your family can pay toward your basic costs (expected family contribution), this amount is calculated from your FAFSA form, and from this our office determines your financial need.
Who is eligible to receive financial aid?
Students who are accepted and registered for classes at Trocaire are eligible to receive financial aid. A student must be a U.S. citizen or eligible non-citizen. Also, a student must not be in default on a prior student loan, owe a repayment of aid to the U.S. Department of Education.
What is a financial aid package?
Trocaire’s financial aid counselors put together a financial aid package for students. Most receive a combination of different types of aid rather than just one kind. Students may have a package that includes grants, loan money, and possible scholarships.
What forms are needed to apply for financial aid?
You must complete the Free Application for Federal Student Aid (FAFSA) online. The application is available at www.fafsa.gov. You will need to use the most current year’s taxes and W-2’s (i.e. if filing 2011-2012 FAFSA then you will use your and/or your parents 2010 taxes).
Do I have to apply for admission to Trocaire to be considered for financial aid?
Yes, you must apply for admission before the Financial Aid Office can consider your eligibility for financial aid, including scholarships. You can apply online at www.trocaire.edu or contact the Office of Admissions at 716.826.1200 ext. 2403 or ext. 2420.
What is Trocaire’s federal school code to be entered on my FAFSA?
The federal code for Trocaire College is 002812.
What types of financial aid are covered by the FAFSA?
All forms of financial aid are covered, including Pell grants, supplemental grants, Direct Stafford loans, and work-study.
What other types of financial aid are available?
Other than federal aid, the most common sources of aid for Trocaire students comes from the New York State government and from the college itself. Awards come in the form of grants, scholarships, and loans. Typically, grants and scholarships are free money and do not need to be repaid. Loans have regular repayment schedules and usually do not need to be repaid until six (6) months after graduation or at the time of withdrawal from the college.
What types of scholarships are available at Trocaire?
There are a variety of scholarships available through Trocaire, including scholarships in the areas of academic excellence, degree programs, adult learner, female student, incoming freshmen, transfer student, ethnic, and financial need. A list is available online or in our Student Affairs Office. Once you complete your FAFSA, you will automatically be considered for all scholarships available at Trocaire.
How can I be declared an independent student?
For financial aid consideration, a student cannot be considered an independent student unless the student meets at least one of the criteria the federal government has established for determining what constitutes an independent student.
Some examples are:
- Born before January 1, 1987
- Veteran of the U.S. Armed Forces
- Orphan or ward of the court
- Have legal dependents other than a spouse
If you are estranged from your parents and this can be documented by an independent, professional third party (member of the clergy, social worker, counselor, etc.), please see a Trocaire financial aid counselor for assistance.
Is financial aid available for the summer?
Yes, if you are taking at least 6 credit hours. Please be aware if you are borrowing loans for the summer, they will subtract from how much you can borrow in the fall and spring semesters.
If I withdraw from school do I have to pay back my financial aid?
Students who withdraw from school may be expected to repay all or a portion of their financial aid. Any refundable amount used to pay tuition and fees is returned to the appropriate financial aid sources.
Are there payment options available to pay my college costs not covered by grants, scholarships or loans?
Any balance remaining after grants, scholarships and loans can be paid with cash, personal check, VISA or MasterCard. The college also offers a monthly payment plan, which divides the semester’s balance into four manageable monthly payments through F.A.C.T.S. This option can be set up through Trocaire’s billing office. In addition, many employers offer a tuition reimbursement benefit to qualified employees. Contact your employer to see if they participate in these benefits.
Is work-study is a form of financial aid?
This program provides jobs for students who need to supplement their earnings. Students are paid for work they perform at on-campus or off-campus jobs. Students who are eligible for the program must be enrolled at least half-time. More information about the work-study program and job openings is available in our Financial Aid Office.
How many hours per week can I work under the work-study program?
You can work usually between 5-10 hours per week. The hours can vary depending on placement and eligibility.
How do I obtain financial aid as a second year student?
If you were a previous loan borrower, you do not have to complete new promissory notes. However, the loan eligibility for the academic year has to be re-established. You begin the process by filing a renewal FAFSA after January 1 for the next academic year. This will be followed by a renewal TAP application. Through this process you will update your personal information and financial resources. The personal identification numbers (PIN) from the federal and state processors will remain the same and allow you to sign the applications electronically. Go to www.fafsa.gov to begin the renewal process.