FREQUENTLY ASKED QUESTIONS
How much Financial Aid is awarded?
Each financial aid award is based on need, eligibility, and available funds. First consideration goes to students who apply early and show the greatest need. Need is determined by comparing the cost of attending Cayuga with the expected family contribution (EFC) 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 from the Financial Aid Office.
The following is an estimated budget for Fall 2015 and Spring 2016 for a full-time dependent student at home in Auburn or Fulton:
- Tuition — $4326
- Fees — $400-$500
- Books and Supplies — $1,250
- Living at Home — $1,800
- Transportation — $1,250
- Personal Expenses — $1,000
The actual amount awarded may be different from the estimated award. The actual award may be adjusted based on additional information, revised regulations, or changed student status. Financial aid will only be paid for classes that you are currently attending and that are required for your degree.
What happens if I don’t attend my classes?
How and when is Financial Aid disbursed?
View our Disbursement Schedule page for detailed information.
If I have financial aid, how can I buy my books?
Accept your award(s) and confirm your charges in your myCayuga account under the Financial Aid section. If the amount of your financial aid exceeds your tuition and fees, you will likely have a credit in the college bookstore. You can use this credit as a book deferral to cover textbooks, supplies and other education costs. Check with the Financial Aid Office or college bookstore for deferral deadlines.
Will there be money left for my personal expenses?
If your financial aid exceeds your tuition, fees, and bookstore charges, you’ll get the excess for personal use. The amount of the refund will be based the number of credits for courses that:
- You are currently attending (not courses that have been dropped or start later in the semester)
- Are required for your degree
When will I receive financial aid for personal expenses?
Semester payouts begin approximately the 6th week of class.
What is the Transfer Student Eligibility for Federal and State Aid?
Transfer students will be considered using slightly different procedures than that of students in continuing status. For example, when a student transfers to Cayuga from another institution, the College will evaluate the student’s academic record and determine a certain number of credits it is willing to accept in transfer from the student’s previous study. That assessment and the number of awards received by the student will be used to place the student at an appropriate point in the institution’s schedule of academic progress. Placement for state aid purposes may be either in accord with the number of payments received or number of credits earned, whichever is more beneficial to the student. If you are applying for the NYS TAP Grant, you must submit official transcripts from the previous college(s) you attended. Placement for federal aid purposes is in accord with the number of credits earned and accepted by the College.
Where can I find more information on my Exit Counseling?
You can complete your exit counseling at http://nslds.ed.gov.
Where do I go to complete my Entrance Counseling and Master Promissory Note for my direct student loans?
Visit the following website for more information: https://studentloans.gov.