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Binghamton University Scholarships for full-time students returning for fall 2014/spring 2015:

Deadline: Wednesday, April 16, 4 p.m. 

Deadline: Wednesday, April 23, 4 p.m.

Alerts

2014-15 Free Application for Federal Student aid (FAFSA)

If you plan to attend Binghamton in the summer 2014, fall 2014, and/or spring 2015, and you need financial aid funding, remember to file your 2014-15 FAFSA beginning January 1, 2014.

2014-15 Financial Aid Offer timeline

New fall 2014 undergraduate admits:  2014-15 Financial Aid Award offer notifications will be emailed to the student email address provided on the FAFSA, beginning mid-March. 

Returning undergraduate students:  2014-15 Financial Aid Award offers will be emailed to a student's Binghamton email address, beginning May 1st.

New and returning graduate students:  2014-15 Financial Aid Award offers will be emailed to a student's Binghamton email address, beginning July 1st.     

Federal Direct Loan interest rate/origination fee changes

The following rates are effective for all Federal Direct loans with a first disbursement on or after December 1, 2013 and before September 30, 2014:

  • The interest rate for Federal Direct Subsidized and Unsubsidized Loans for undergraduate students is 3.86% with an origination fee of 1.072%.   
  • The interest rate for Federal Direct Unsubsidized Loans for graduate/professional students is 5.41% with an origination fee of 1.072%.
  • The interest rate for parent and graduate PLUS Loans is 6.41% with an origination fee of 4.288%.

Grants affected by Sequestration

TEACH Grant:  All awards with a first disbursement made between March 1, 2013 and before October 1, 2013 are subject to a 6% across-the-board reduction, based on the award schedule.  All awards with a first disbursement made on or after October 1, 2013 and before October 1, 2014, will be reduced by .89%.  For example, if the award is $2,000, it will be reduced by $17.80 for a total award of $1,982.20.

Iraq-Afghanistan Service Grant:  All awards with a first disbursement on or after October 1, 2013 and before September 30, 2014 will be reduced by 7.2% from the original award amount the student would otherwise have been eligible for.      

New legislation impacts federal aid programs

Due to the Moving Ahead for Progress in the 21st Century Act (enacted July 6, 2012), a new borrower on or after July 1,2013 cannot receive subsidized loans for more than 150% of the published length of the borrower's educational program.  For example, if a student is enrolled in a 4 year program, they can receive 6 years of subsidized loans, if eligible.  The law also states that a borrower who becomes ineligible for subsdized loans because of the 150% limit is ineligible for interest subsidy benefits on all subsidized loans first disbursed to that borrower on or after July 1, 2013.

Due to the Consolidated Appropriations Act, 2012, the following federal programs were impacted:

  • Federal Pell Grant Duration of Eligibiity (beginning with the 2012-13 award year) – Eligibility to receive a federal Pell grant is now limited to 12 semesters (or its equivalent) for all Undergraduate eligible students and includes all years of the student's receipt of federal Pell grant funding.  
  • Grace Period Interest Subsidy – Temporary elimination of interest subsidy provided on Direct Subsidized loans during the six month grace period provided to students when they are no longer enrolled in at least a half-time basis.  This change will be effective for new Direct Loans for which the first disbursement is made on or after July 1, 2012, and before July 1, 2014.

 

Federal aid once degree requirements are met

A student who completes the academic requirements for a program, is not eligible for further additional federal aid funds for the program.   

Looking for semester employment?

New listings for jobs continue to be updated on eRecruiting.   

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Last Updated: 4/1/14