At Pace, we understand that financing your education is crucial in the decision-making process. Our goal is to make a Pace University education financially possible. Aid can come from a variety of sources including Pace University, the federal government and the state of New York. Below is an overview of the steps to applying for financial aid, steps to take once you have been packaged with aid as well as an outline of additional steps required for certain types of aid programs.
- Financial Aid checklist for new students
- Federal loan offers included in your Financial Aid package
- Alternative payment options
- Contacting the Office of Financial Aid
Financial Aid checklist for new students
|1.||File the Free Application for Federal Student Aid (FAFSA)
All newly accepted students who wish to be considered for financial aid (Federal, State and Pace institutional aid) must file a Free Application for Federal Student Aid (FAFSA) by November 15, 2016, or within 10 days of your acceptance. You can apply online at www.fafsa.ed.gov.
What you will need in order to file your FAFSA:
|2.||File the NYS TAP Grant Application (New York State Residents only)
All New York State residents should complete the FAFSA in order to be eligible for the Tuition Assistance Program (TAP). On the confirmation page of the FAFSA, New York State residents will have the option to link their FAFSA information directly to HESC to apply for TAP. Alternatively, the NYS TAP application may be completed at www.hesc.ny.gov.
|3.||Once the FAFSA is received and students are packaged with aid for the upcoming academic year, a Financial Aid award package is mailed to the student.
If you are selected for Verification, you may visit the Verification section of the Financial Aid website for additional information regarding this Federal process. The Verification deadline is April 1, 2017.
Federal loan offers included in your Financial Aid package
The following is information regarding potential Federal loan offers included in your Financial Aid package. It is not required that any of these loans be accepted. They are offered through the Government to assist students in paying out of pocket costs. If accepted, all requirements should be completed no later than 30 days prior to the start of the semester.
Federal Direct Subsidized/Unsubsidized Stafford Loans
- Federal Direct Subsidized/Unsubsidized Stafford Loans are federal student loans borrowed by the student
- Current interest rate: 4.29% (subject to change)
- Interest does not accrue on the Subsidized Stafford loan until after the student graduates or falls below half-time (6 credit enrollment). Interest accrues on the Unsubsidized Stafford loan while the student is in school.
- The Stafford Loan Entrance Counseling and Master Promissory Note (MPN) must be completed, by the student, at www.StudentLoans.gov using the student’s unique FSA ID in order for loans to disburse
Federal Perkins Loan
- The Federal Perkins Loan is a federal need-based student loan borrowed by the student
- Fixed interest rate: 5%
- Interest does not accrue until 9 months after a student graduates or falls below half-time (6 credit) enrollment
- A hard copy Perkins Master Promissory Note (MPN) is mailed to the student at a later date. The original hard copy must be returned back to the Financial Aid Office before the loan will disburse.
Federal Direct Parent (PLUS) Loan
- The PLUS loan is an educational loan made available to the parents of dependent students only. Students are not eligible to apply for this loan.
- An additional application must be submitted and is available here
- PLUS loans are not guaranteed and subject to credit approval
- Current interest rate: 6.84% (subject to change)
- Payment on the PLUS loan can be deferred until 6 months after the dependent student graduates or falls below half-time (6 credit) enrollment. The parent must contact their loan servicer directly to request deferment.
- PLUS Master Promissory Note (MPN) must be completed, by the parent (borrower), at www.StudentLoans.gov using the parent’s unique FSA ID in order for the loan to disburse
Alternative financing options
If additional funds are required there are alternative financing options available.
- Alternative bank loans:
Alternative bank loans are private education loans through a bank of a student’s choosing. For a list of alternative bank loan options available please click here to utilize the Private Student Loan Comparison Tool on the HESC website.
- Tuition Payment Plans:
Pace University offer monthly tuition payment plan options (three, four, or five monthly installements) through the Office of Student Assistance (OSA). For additional information regarding the payment plans available please click here. Please note: Deadlines for enrollment do apply for this program. Early enrollment is recommended as it will allow students to spread payment over a longer period of time.
Contacting the Office of Financial Aid
You may also visit the Financial Aid section of the Pace website for additional financial aid information. The Financial Aid Office also offers step-by-step video tutorials to assist students in securing their financial aid.
The Financial Aid Office is also available to assist you. You may reached us by phone (877) 672-1830, by email at FinancialAid@pace.edu or in person (no appointment necessary) at the Financial Aid Office Solution Center located on your home campus.
New York City Campus
One Pace Plaza, 1st Floor
New York, NY 10038
861 Bedford Rd., Administrative Building
Pleasantville, NY 10570
Fall & Spring Schedule
Monday - Friday 9:00 a.m. - 5:00 p.m.
Closed: Saturday & Sunday