Federal Pell Grant
The Pell Grant is federally funded financial aid that does not have to be repaid. Pell grants are awarded to undergraduate students who have not earned a bachelor's or professional degree. To determine eligibility, the U.S. Department of Education uses a formula, established by Congress, to evaluate the information you report when you apply using the FAFSA each year. The formula produces an Expected Family Contribution (EFC) number. Your Student Aid Report (SAR), available on line at fafsa.ed.gov contains this number and will tell you if you are eligible.
Awards depend on Federal program funding. The current maximum award based on full-time enrollment for 2007-08 is $4,310 and the minimum is $400. Pell grant awards are determined by information on the FAFSA and the resulting "expected family contribution" (EFC) of less than $4,110.
Federal Supplemental Educational Opportunity Grant (FSEOG)
The Federal Supplemental Educational Opportunity Grant is also a federally funded grant that does not have to be repaid. Eligibility for it is determined by the Financial Aid Office based on criteria set according to federal guidelines. Funding is limited and award amounts may range from $100 to $600 per semester. Applicants must demonstrate exceptional financial need and be a recipient of Federal Pell grant.
Apply early. The application must be completed and returned to the Financial Aid Office. It can be faxed to 716-677-8899.
Academic Competitiveness Grant (ACG)
The Academic Competitiveness Grant (ACG) is a new federal grant program. Eligible students may receive an Academic Competitiveness Grant (ACG) of $750 for the first year of academic study and $1300 for the second year of academic study. To be eligible for each academic year, a student must:
- Be a U.S. citizen;
- Be a federal Pell Grant recipient;
- Be enrolled full-time in a degree program;
- Be enrolled in the first or second academic year of his or her program of study
- Have completed a "rigorous" secondary program of study identified by New York State Education Department and recognized as such by the Secretary of Education
- If a second-year student, have at least a 3.0 overall cumulative overall grade point for the first academic year.
The Financial Aid Office reviews students eligibility using the criteria listed above and automatically awards the grant if the student fits the criteria listed above.
For more information regarding this new grant please visit the Federal Student Aid website at Student Aid on the Web.
Tuition Assistance Program (TAP)
TAP is a grant for New York State residents. It does not have to be paid back. Awards are based on New York State net taxable income and tuition charges. Final determination of awards is made as a result of the completion of the Express TAP Application (ETA) each year and funding levels are dependent on the passing of the New York State Budget. Awards currently range from $200 to $5,000. These grants are available for a maximum of eight full-time semesters for undergraduates.
Students must be attending full-time in a degree program. After receiving 4 semesters of TAP, students must also maintain a "2.0" average to continue their eligibility for the grant.
The NY State TAP on the Web application is available on line. You can also view the status of your TAP award at any time. If your first school choice had changed, you must complete a TAP Change Form on-line using the school code for Bryant & Stratton Online, which is 7732.
Aid for Part-Time Students
Aid for Part-Time Study is also a grant for New York State residents. Eligibility is determined by the Financial Aid Office based upon criteria set according to state guidelines. Funding is limited and award amounts may range from $100 to $500 per semester. Applicants must be enrolled for three (3) credit hours but less than twelve (12) credit hours, and meet additional income limits prescribed by the program that are attached to the APTS application. The application must be completed and returned to the Financial Aid Office. It can be faxed to 716-677-8899.
Scholarship Opportunities
Bryant & Stratton’s Adult Learner Scholarship*
Bryant & Stratton’s Adult Learner Scholarship for Associate Degree students* is available to matriculating students who received their high school diploma or GED at least one year ago and is enrolling for the first time. The scholarship has a maximum value of $1600.
Bryant & Stratton’s Adult Learner Scholarship for Bachelor Degree students* is available to matriculating students and has a maximum value of $4000.
*Additional information can be located in our catalog.
Matching Scholarships
Bryant & Stratton will match the dollar amount of any scholarship awarded from a professional organization up to $500. The application must be completed and returned to the Financial Aid Office. It can be faxed to 716-677-8899
Private Scholarships
You must search for private scholarships on your own, but here is a list of resources to get you started.
FastWEB
FastWEB is the largest and most complete scholarship search on the Internet. It provides access to a searchable database of over 400,000 private sector scholarships, fellowships, grants, and student loans.
Hispanic College Fund (HCF)
HCF has a variety of scholarship programs available for undergraduate students including: MasterCard Scholarship Program, Ford Mi Fuerza Program, and the Lockheed Martin Scholarship Program. More information and application procedures are available on the Hispanic Scholarship Fund. The application deadline is April 15.
Federal Stafford Loans
A Stafford Loan is a form of self-help aid. It is a loan and it must be repaid. To be eligible, a student must be enrolled a minimum of 6 credit hours in a degree-seeking program.
Federal Subsidized Stafford Loan
If you have financial need remaining after your Federally calculated Expected Family Contribution (EFC), Federal Pell grant eligibility, and aid from other sources are subtracted from your cost of attendance, you can borrow a Subsidized Stafford Loan to cover all or a portion of that remaining need. The government will pay the interest on your loan while you're in school, for the first six months after you graduate or fall below six credit hours.
Federal Unsubsidized Stafford Loan
If you don't have financial need remaining after your EFC and need based aid are subtracted from the cost of attendance, you may borrow an Unsubsidized Stafford Loan. This Unsubsidized Stafford Loan can equal the amount of your EFC or the annual Stafford Loan borrowing limit for your grade level, whichever is less. You will be responsible for paying all of the interest on this loan.
The repayment of your Stafford Loan will begin six months after you graduate or drop below half-time attendance (half-time is defined as 6 credit hours). Payments are usually due monthly.
How do I apply for a Stafford Loan?
After completing the FAFSA you will be sent an award letter from the Financial Aid office. If you were awarded a Federal Subsidized/Unsubsidized Stafford Loan you must log on to Bryant & Stratton’s Self Service Banner SSB to accept or decline these awards.
FIRST TIME STAFFORD LOAN BORROWERS must complete a Federal Stafford Loan Electronic Master Promissory Note (e-MPN) which is available on-line from New York State Higher Education Services Corporation (NYSHESC). The Master Promissory Note is the only loan application you will need to complete for your Federal Subsidized/Unsubsidized Stafford Loan while you are enrolled at Bryant & Stratton Online. Instructions for the process. You will be prompted to apply for a HESC pin during the e-MPN process. Please note you can not use your Federal Pin to sign your e-MPN.
First time borrowers must also complete an Entrance Counseling session. Once the E-MPN and Entrance Counseling session is completed, your Stafford Loan eligibility is electronically transmitted to New York State Higher Education Services Corporation by the college.
How will I receive the loan funds?
For each semester in the aid period, there is one disbursement. Loan proceeds are received electronically at Bryant & Stratton Online through an "Electronic Funds Transfer" (EFT) process. Once received, the loan proceeds are credited to your student account.
Any refund that you are entitled to as a result of your Stafford Loan exceeding your charges, will be issued to you after your bill is paid in full. Inquires regarding your refunds can be directed to the Business office.
Per federal regulations, First-year undergraduate students who are first-time borrowers cannot receive their first disbursement until 30 days after the first day of the enrollment period.
How Much Can I Borrow?
The amounts given below are the maximum yearly amounts you can borrow (if cost minus other aid allows) in both subsidized and unsubsidized loans combined.
SUBSIDIZED AND UNSUBSIDIZED FEDERAL STAFFORD LOAN
Undergraduate Students
| Class Level |
Maximum Loan Amount |
| Freshman (Less than 24 credit hours) |
$3,500* |
| Sophomore (24-56 credit hours) |
$4,500* |
| Junior and Senior (56 + credit hours) |
$5,500* |
Maximum undergraduate aggregate limit = $23,000
ADDITIONAL ELIGIBILITY FOR UNSUBISIDIZED FEDERAL STAFFORD LOAN (CANNOT EXCEED COST OF ATTENDANCE)
Independent Undergraduate
- Up to $4,000 – for Freshman or Sophomore level standing
- Up to $5,000 – for Junior and Senior level standing
- Maximum undergraduate additional Unsubsidized aggregate limit = $23,000
Parent's (PLUS) Loan
How do my parents apply for a Parent Loan?
To apply for a Parent (PLUS) Loan at Bryant & Stratton Online, the parent borrower must apply via the Plus loan application to initiate an on-line credit check analysis that will be performed by the New York State Higher Education Services Corporation (NYSHESC). If the parent credit check is approved, the parent borrower will be prompted to begin the on-line PLUS Electronic Master Promissory Note (e-MPN) application process. They should apply for the amount listed on the students award letter. Once completed, the Financial Aid Office will be notified and will then certify the amount of the loan that the parent borrower will be eligible for and transmit this information to NYSHESC for final guarantee.
What if my Parent Loan is denied?
If the on-line parent credit check is denied the student may be eligible for additional Unsubsidized Stafford loan funds. To pursue this option, the parent borrower would indicate at the time of the on-line denial that their son/daughter would like to borrow additional Unsubsidized Stafford Loan funds. The Financial Aid Office will then contact the student borrower to determine the amount of funds that he/she would like to borrow due to the Parent Loan denial.
What requirements do my parents have to meet?
Parents of dependent students are eligible to apply for a PLUS Loan through the Federal Family Education Loan Program (FFELP). Parents with a good credit history (no debt to income calculation used; only no recent delinquencies, charge-offs, defaults, etc.) can borrow a PLUS Loan to pay for educational related expenses. You and your parents must also meet other general eligibility requirements for federal student financial aid.
How much can my parents borrow?
The yearly limit on a PLUS Loan is equal to your cost of attendance minus any other financial aid you are awarded. For example, if the institutional cost of attendance is $16,000 and you receive $4,000 in other financial aid, your parents can borrow up to $12,000.
Who receives my Parents' Loan funds?
For each semester in the aid period, there is one disbursement. Loan proceeds are received electronically at Bryant & Stratton Online through an "Electronic Funds Transfer" (EFT) process. Once received, the loan proceeds are credited to your student account. If any loan money remains, your parents will receive the amount as a check or in cash.
What's the PLUS interest rate?
The interest rate will be fixed for PLUS Loans that are disbursed on/after July 1, 2007 and will carry an interest rate of 8.5%. Interest is charged on the loan from the date the first disbursement is made until the loan is paid off.
When do my parents begin repaying the loan?
Generally, the first payment is due within 60 days after the final loan disbursement for the year. There is no grace period for these loans. Interest begins to accumulate at the time the first disbursement is made, and your parents will begin repaying both principal and interest while you're in school.
Alternative Financing Options
How do I apply for an Alternative Loan?
You can apply for an Alternative loan among the dozens of lenders who provide alternative loans. Be aware that some smaller banks and credit unions do not participate in the electronic processes used at Bryant & Stratton Online. Be sure the lender you choose is participating by consulting our Preferred Lender list. These are credit-based loans. Once approved, the Financial Aid Office certifies the amount of the loan that the borrower is eligible for and subsequently transmits this information back to the lender for a final guarantee.
What requirements do I have to meet?
Borrowers will be evaluated based on credit history, debt to income ratio, and work history. A student can be approved when applying alone but will typically require a co-borrower.
How much can I borrow?
The yearly limit on an Alternative Loan is equal to your cost of attendance minus any other financial aid you are awarded. For example, if the institutional cost of attendance is $16,000 and you receive $6,000 in other financial aid, you can borrow up to $10,000.
Who receives my Alternative Loan funds?
Loan proceeds are received electronically at Bryant & Stratton Online through an "Electronic Funds Transfer" (EFT) process. Once received, the loan proceeds are credited to your student account. If any loan money remains, you will receive the amount as a check.
What's the Alternative Loan interest rate?
The interest rate is typically based on Prime or LIBOR and a credit check performed by the lender. There is no cap on interest rates for the Alternative Loan. Interest is charged on the loan from the date the first disbursement is made until the loan is paid off.
When do I begin repaying the loan?
Repayment can begin within 6 months of when you graduate or drop below half time. Check with your individual lender for repayment terms and conditions.
