APPLY FOR FINANCIAL AID

HOW TO APPLY FOR FINANCIAL AID: FAFSA

To apply for federal assistance, a student (and parents of dependent students) must file the Free Application for Federal Student Aid (FAFSA) annually. Students file their FAFSA online at https://studentaid.gov. Cayuga’s school code is 002861. Students (and dependent parents) must obtain an FSA ID (username and password) that serves as your electronic signature when completing the FAFSA. You may obtain your FSA ID at https://studentaid.gov/h/apply-for-aid/fafsa at any time. This FSA ID will be used for many financial aid purposes, so keep it safe, and in a location you can find when it is needed.

Apply at least four weeks before the start of classes to provide the Financial Services Office sufficient time to review your application and notify you of your financial aid eligibility. FAFSAs received by April 15 will be considered for all available aid. Applications received after April 15th may only be considered for Pell, TAP, APTS, and student loans.

• If you are a New York State resident, complete the Tuition Assistance Program (TAP) application. If a student did not successfully complete their TAP application at the time a FAFSA was filed, the student will receive an email or postcard from the state processing center outlining application instructions.

The electronic TAP application can be completed online at https://www.tap.hesc.ny.gov/totw/. Our school code is 2005

• If you are a part-time student and a New York State resident, you may apply for Aid for Part-time Study by July 1st for the fall semester and by Nov 15th for the spring semester.

You must reapply for financial aid each academic year. You should log on to your myCayuga self-service student information account to check financial aid requirements, view awards, and accept financial aid.

IRS DATA RETRIEVAL TOOL

The federal government’s IRS Data Retrieval Tool (DRT) is the quickest and easiest way to complete the FAFSA application. Using this tool may diminish the likelihood of being selected for the federal verification process.

Not all applicants will be eligible to utilize the IRS Data Retrieval Process. If you answer “yes” to any statements listed below, you may not be able to utilize the IRS DRT:

• You reported a tax filing status of married filing separately.
• You reported you are married, and you had a tax filing status of Head of Household.
• You filed a Puerto Rico or foreign tax return.
• You recently filed your taxes. IRS tax forms filed electronically need at least two weeks, and tax forms submitted by mail need at least eight weeks for the IRS DRT to be operational.

Students and dependent student’s parents who cannot use the IRS DRT process will need to obtain a copy of their IRS Tax Transcript at the IRS website www.irs.gov or submit a signed copy of the required tax returns.

FEDERAL VERIFICATION POLICIES

Each year about thirty percent of students’ financial aid applications (FAFSAs) nationwide are chosen for “verification.” The verification process compares information reported on your FAFSA with supporting documentation supplied by the student and/or parent. In addition to verification, the Financial Services Office staff reserves the right to select any applicant for verification that the College believes may have errors on their application. Conflicting information submitted by the student may trigger verification. Students selected for verification cannot receive a financial aid award until the verification process is completed.

NOTIFICATION AND VERIFICATION DEADLINES

Applicants are initially notified by the U.S. Department of Education via the processed FAFSA of their selection for verification. The Financial Services Office will notify students of their selection for verification through a letter sent to the student’s primary address. In this letter, students are instructed to check their myCayuga account under financial aid requirements to determine what documents they are required to submit. All verification documents are assessable to students on the financial aid homepage under “Resources and Forms.” Reminder notices are sent to students through the college email system monthly.

A student chosen for federal verification is not considered to have completed the financial aid application process until the verification process has been successfully completed. Students should realize that Cayuga Community College will not package, credit, or disburse any federal financial aid funds until the student has completed the verification process. Students should submit all documents as soon as possible. It normally takes two weeks to complete the verification process; and can take up to three weeks at the beginning of the semester due to the large volume of documents received.

Students need to complete the verification process while they are in attendance. The College cannot guarantee financial aid funds to students who complete their verification process after they withdraw or have been withdrawn by the College.

Applicants selected for verification may be asked to verify:

• Federal adjusted gross income and U.S. Taxes Paid
• Household size
• Number of household members enrolled at least half-time
• Child Support Received or Paid
• Untaxed Income and Benefits
• Education Credits
• Income from Work
• High School Completion
• Identity and Statement of Educational Purpose
• Proof of Citizenship
• Selective Service Registration
• Independent Student Status (if under the age of 24)

To assist students with providing this information, there is a link between the Internal Revenue Service (IRS) and your FAFSA information. Many families will be able to utilize this service and have their tax information directly reported on their FAFSA. If you are eligible for this service, you will be given this option while completing your federal aid application.

REVIEW OF VERIFICATION DOCUMENTS

One all verification information is submitted, the application data will be compared to the information reported on the FAFSA. If all reported data elements are accurate, the verification status on your myCayuga will be satisfied and you will proceed to the financial aid packaging process and an award letter will be sent to your primary address.

If discrepancies are found, the Financial Services Office will make the necessary corrections to your FAFSA and transmit the information to the Federal Student Aid Central Processing System. Upon receipt of your corrected FAFSA, your verification status will be satisfied, and the packaging and awarding process will begin. Applicants whose verification result in discrepancies will receive an updated Student Aid Report (SAR) from the Federal Student Aid reflecting those data elements corrected and the recalculated Expected Family Contribution (EFC).

REPORTING FRAUD

In cases where intent to commit fraud to obtain federal funds is suspected, Cayuga Community College is required to refer the case to the U.S. Department of Education’s Office of Inspector General for review and resolution, and no further processing of financial aid will occur until the case is resolved.

AMOUNT OF FINANCIAL AID AWARDED

Financial aid awards are based on need, eligibility, and available funds. First consideration goes to students showing the greatest need. Need is determined by comparing the cost of attending Cayuga with the expected family contribution as calculated by a federal formula. Budgets used for financial aid vary depending upon your status, residency, and program. Standard budgets used for awarding financial aid are available in the Financial Services Office.

The following is an estimated Cost of Attendance (COA) for two semesters for students in Auburn or Fulton in the 2023-2024 academic year:

An estimated award may not be the final amount awarded. Estimated and actual awards may be adjusted based on additional information, revised regulations, or changed student status. Financial aid will only be paid for courses that are required for your degree. See Tuition and Fees for updated information.

SPECIAL CONDITIONS

The federal government realizes that family’s financial circumstances may change since the time they filed their federal income tax return or FAFSA. In these circumstances, the College is allowed to make adjustments to a family’s income or assets on their federal aid application. Common examples of granted special conditions are loss of employment, retirement, separation or divorce, loss of one-time benefits, medical/dental expenses that exceed 11% of total income, elementary/secondary tuition costs for dependent children, nursing home costs not covered by insurance, and unusual high childcare costs. All students applying for a Special Condition will need to complete the verification requirements before an adjustment to your federal aid application can be considered by our office.