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 October 1. The FAFSA uses tax information from two years prior to the start of the academic year (Example: Currently for the 2020-2021 FAFSA, you would use your 2018 tax information.) You should complete and submit this information as soon as possible so that the Financial Aid Office has a chance to inform you of any balance you might owe well before the start of the new semester. 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, which is the amount 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, or 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
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 716.826.2545.
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.
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?
Yes, 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.