Financial Aid

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Applying for Financial Aid

The federal financial aid application process begins with the completion of the Free Application for Federal Student Aid (FAFSA). Before completing the FAFSA, it is recommended to apply for a FSA ID (Username and Password).

When completing the FAFSA do not include parental information, unless you are applying for any campus-based funds, such as the Tuition Waiver Grant for Disadvantaged Students (DW) or the Health Professions Student Loan (HPSL). Parent information will be used only for consideration in awarding campus-based funds.

In order for us to receive a copy of your FAFSA results, you must include the Stony Brook University federal school code, 002838, when completing your FAFSA. The deadline for submission is April 1st.

To be considered for financial aid from the Federal Title IV programs, students must meet basic eligibility requirements. Please review the Guide to Federal Student Aid from the U.S. Department of Education for specific eligibility details.

Additional Financial Aid Resources:

Types of Aid

Tuition Waiver Grant for Disadvantaged Students (DW)

Program Detail & Eligibility:

Does not need to be repaid. This grant is funded by the State University of New York, campus-based aid program and it provides up to a partial waiver of tuition for students who qualify. This is a need-based tuition waiver program available to New York State residents enrolled as full-time students in a State University first graduate or professional degree program. Medical and dental students have first priority for this award.

Award Limits:

Awards amounts are dependent upon the availability of state budget funding for this program.

How to Apply:

Students who complete an Institutional Application for Financial Aid; provide documentation of previous enrollment in an EOP, SEEK or HEOP Program, as well as provide parental information on the Free Application for Federal Student Aid (FAFSA), and demonstrate low family income will be given preference when being considered for this program.

Continuing students who were awarded DW in the previous year must continue to provide parental information on the FAFSA and demonstrate low family income to maintain the award each year.

National Health Service Corps scholars are committed to serve one year for each year of support (minimum of two-year’s service) at an approved site in a high-need Health Professional Shortage Area soon after they graduate, serve a primary care residency (family medicine, general pediatrics, general internal medicine, obstetrics/gynecology or psychiatry for physicians and general or pediatric for dentists) and are licensed.

Scholars compete for employment at the approved service sites of their choice from a listing of job vacancies in their discipline and specialty. The NHSC helps scholars select a compatible service site and pays for travel to and from interviews.

The Dr. W. Burghardt Turner Fellowship is a Graduate Fellowship Program for eligible underrepresented students whose immediate academic plans include obtaining graduate or professional degrees in a variety of disciplines at Stony Brook University. The fellowship is one of the many programs coordinated by the Center for Inclusive Education at Stony Brook University and is funded by the SUNY Office of Diversity, Equity and Inclusion.
Matriculated first-year dental student scholarships are awarded to students who have demonstrated high academic achievement at the baccalaureate level and high overall Committee ratings. Students interested in applying for these awards are required to submit an essay highlighting why they believe they are deserving of the award. These awards may range from $500 to $5000 per academic year.

For more information, please contact the Office of Education.
The National Health Service Corps Loan Repayment Program provides $50,000 (or the outstanding balance of qualifying student loans if it is less than $50,000), tax free, to primary care medical, dental and mental health clinicians in exchange for two years of service at an approved site in a Health Professional Shortage Area. Upon completion of the service commitment, clinicians may be eligible to apply for additional support for extended service.
Program Detail & Eligibility:

Employment requirement.This federal program provides on-campus employment opportunities to graduate students. Please contact Glenda Mitchell, Director of Student Services, in the SDM, for more information about procedures and available jobs in the School of Dental Medicine.

Award Limits:

FWS hourly rates range from $13.00 to $21.89. (Average rate is $13.00 per hour.) Typical annual earnings are $1,000.

How to Apply:

File the Free Application for Federal Student Aid (FAFSA) With Stony Brook's School Code 002838. If you received and accepted Federal Work-Study (FWS) in your financial aid award package, you should contact the Financial Aid & Student Services Office of the School of Dental Medicine for a list of employment opportunities in the SDM. You will receive FWS funds in the form of a bi-weekly paycheck, based on the hours you have earned at the job. The FWS award cannot be used as anticipated/pending financial aid towards your semester bill. Satisfactory Academic Progress is a requirement.

Program Detail & Eligibility:

Needs to be repaid. This loan is offered through the federal campus-based aid program. It is awarded to matriculated students with financial need. Payment is owed to the school that awarded the loan. Interest on this loan does not accrue while you are in school and during your initial grace period. Repayment begins 12 months after you graduate or fall below 6 credits. Interest rates during repayment are locked at 5%. Satisfactory Academic Progress is a requirement.

For further information regarding repayment: Federal Health Professions Student Loan Program Borrower's Guide.

Award Limits:

Loans cannot exceed the amount of tuition plus $2,500. The award amount depends on the availability of funds. Amount actually received depends on financial need, amount of other aid, availability of funds at school.

How to Apply:

Students who complete an Institutional Application for Financial Aid; provide documentation of previous enrollment in an EOP, SEEK or HEOP Program, as well as provide parental information on the Free Application for Federal Student Aid (FAFSA), and demonstrate low family income will be given preference when being considered for this program. Continuing students who were awarded HPSL in the previous year must continue to provide parental information on the FAFSA and demonstrate low family income will be given preference when being considered for this program. Continuing students who were awarded HPSL in the previous year must continue to provide parental information on the FAFSA and demonstrate low family income to maintain the award each year..

Veterans Benefits and Services: Students interested in applying for benefits under any of the VA educational assistance programs should contact Stony Brook’s Office of Veterans Affairs.

Veteran Awards administered through the New York State Higher Education Services Corporation (HESC): Child of Veteran, Persian Gulf Veterans Tuition Award and Vietnam Veterans Tuition Award. Additional information and application procedures are available at New York State HESC website.

 

Annual Federal Stafford and Grad Plus Loan Limits

Graduate and Professional Students Enrollment/Loan period Federal Stafford Annual
Unsubsidized Loan Limits

Federal Grad Plus Loan Limits

 

DDS Program Year 1 & 2 10 months $42,722 Up to the top of the budget
DDS Program Year 3 & 4 11 months $44,944

Up to the top of the budget

 
Advanced Certificate Programs: Endo, Ortho, Perio: Year 1 11 months $20,500 Up to the top of the budget
Advanced Certificate Programs: Endo, Ortho, Perio: Continuing 12 months $20,500

Up to the top of the budget

 

Aggregate Stafford Loan Limits (Total Cumulative Loan Amounts)

Dental Students – DDS Program     $224,000
Graduate and Professional Students-
Includes Postdoctoral: Endo, Ortho, & Perio
$138,500
 

Type of Loans for Graduate Students

Unsubsidized loans are non-need based loans, and are available regardless of financial need. Student must be enrolled in a degree program with six or more credits to be eligible.

First time borrowers will be required to complete a Master Promissory Note and Entrance Counseling before loan funds can be disbursed.

The federal government does NOT pay the interest. Interest begins to accrue as soon as the loan funds are disbursed. Students may choose to pay the interest that accumulates or have it capitalized – meaning, the interest will be added to the principal amount of your loan and additional interest will be based upon the higher amount. Paying the interest as it accumulates will reduce the amount of interest that must be repaid.

Beginning July 1, 2018, the interest rate is 6.6% for graduate/professional students.

Beginning July 1, 2019, interest rate is 6.08% for graduate/professional students.

The loan origination fee for an unsubsidized loan that has fully or partially disbursed prior to October 1, 2019 is 1.062%. Any loan that has not fully or partially disbursed after October 1, 2019 will have a loan origination fee of 1.059%. This fee will be reduced from the loan funds sent to the school. Repayment begins 6 months after you graduate or are no longer enrolled for 6 or more credits. Payments are made directly to your loan servicer. Locate your servicer login.

Graduate PLUS loans are available to eligible graduate and professional students up to the cost of attendance minus other financial assistance offered each academic year. To be eligible, you must be enrolled in 6 or more matriculated credits and not have an adverse credit history. First time borrowers will be required to complete a Master Promissory Note before loan funds can be disbursed.

Federal Graduate PLUS loans with a disbursement date on or after July 1, 2018 have an effective interest of 7.6%.

Federal Graduate PLUS loans with a disbursement date on or after July 1, 2019 have an effective interest of 7.08%.

Interest begins to accrue upon disbursement. A Graduate PLUS Loan that has fully or partially disbursed prior to October 1, 2019 has a loan origination fee of 4.248%. Any loan that has not fully or partially disbursed after October 1, 2019 has a loan origination fee of 4.236%. This fee will be reduced from loan funds sent to the school.

Interest begins accruing as the loan is disbursed. Borrowers may choose to repay the interest monthly, quarterly, or have the interest capitalized. Repayment of the principal balance plus interest begins 60 days after the loan has disbursed. However, the borrower can defer payments while that are enrolled at least half time (six credits) by contacting the loan servicer. Locate your servicer login.

If a Grad PLUS is denied: The borrower will receive notification from the federal government as to the credit decision.

The borrower has an option to re-apply with a credit-worthy endorser.

Institutions that enter into an agreement with a potential student or parent of a student regarding a Title IV loan are required to inform the student or parent that the loan will be submitted to the National Student Loan Data System (NSLDS) and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system. [ HEOA Sec. 489 amended Sec. 485B (d) (4) (20 U.S.C. 1092b)]

More information on federal loans please visit the following website: https://studentaid.gov/understand-aid/types/loans

Repaying Your Federal Student Loans

Using student loans to finance your education is much less stressful if you are an informed and responsible borrower. Understanding when you repay, who you make payments to, what amount you must repay and how to make those payments is key to successfully making your loan repayment. Some of this information is applicable while you are still an enrolled student and some will be more important for planning after you leave school. Knowing how the process works and the options available to you can save you time and money down the road.

 Unsubsidized loans borrowed under either the Direct or FFEL programs have a six month grace period. The grace period begins when you leave school or your enrollment falls below half-time (6 credits). This loan enters repayment when the grace period ends.

PLUS Loans do not have a grace period.

Graduate and professional students with PLUS loans that were first disbursed after 7/1/08 receive an automatic deferment while in school and a 6-month deferment after they graduate, leave school, or drop below half-time (6 credits).

When the time comes, you will make your payment to your loan servicer(s). You will be notified by your servicer(s) about when your payment is due, the amount due, and where to send payment. You are encouraged to create an online account with your servicer(s) as it will make management or your repayment easier. You can also sign up for automatic payments, which will help with making your payments on time and even give you a .25% interest rate reduction. For more information visit https://studentaid.ed.gov/sa/repay-loans.

Consolidating your federal education loans can simplify your payments, but it also can result in the loss of some benefits.

Learn about consolidation so you can weigh the pros and cons and decide whether a Direct Consolidation Loan is right for you. Visit https://studentaid.ed.gov/sa/repay-loans.