Pace students near Alumni Hall on the Pace Westchester campus
Financial Aid

Your Guide to Undergraduate Financial Aid 2023-2024

Guide to Securing your 2023-2024 Financial Aid

It's time to finalize your financial aid for the 2023-2024 aid year!

Pace's Financial Aid office is here to assist you with the remaining aspects of the process. Be sure to carefully read all the information in the links below as it will answer many of the pressing questions you may have, and provide you with a better understanding of how financial aid works.

Accept your Aid and Sign your Scholarship Agreement Form

Accept Your Financial Aid Awards on the Pace Portal

  1. Go to Pace Portal
  2. Login with your Pace Portal username and password.
    • If you do not have your username or password, click on “New User?” next to the username/password boxes and activate your account by following the instructions and prompts provided.
    • Review ITS New Student Checklist for additional information regarding activating a new account.
  3. Click on “Students”
  4. Click on “Financial Aid"
  5. Select "Financial Aid System"
  6. Click on the “Award Offer” tab to:
    • Review important financial aid information and offers for the current aid year.
    • Accept/decline your aid offers.

For the best web browsing experience with Pace web-based systems, Microsoft Edge and Mozilla Firefox 70 or higher are recommended. Safari and Google Chrome may also be used.

How to Sign Your Scholarship Agreement Form

  1. Follow steps 1-6 of the Accepting your Financial Aid instructions, listed above.
  2. Review your "Home" tab to review your financial aid status and list of requirements.
  3. Review your "Unsatisfied Requirements" section of the "Home" tab.
  4. Click the link for your Scholarship Agreement Form.
    • Sign in again using your Pace Portal username and password.
    • The Award Agreement will open up. Review the terms and conditions.
    • Electronically sign and submit your agreement form.
    • Click the PDF link on the confirmation page to save a signed copy for your records.
      • A copy of your signed forms can also be reviewed at any time by logging into the Pace University Electronic Forms Portal using your Pace University login information and clicking "Forms History".

If you have access issues, try changing your web browser. If issues persist, contact Information Technology Services (ITS) at pacehelpdesk@pace.edu.

Financial Aid Awards Information

  • Your eligibility for federal financial aid is determined by the information that you reported on the Free Application for Federal Student Aid (FAFSA). The Student Aid Report (SAR) you received from the federal processor is generated from the FAFSA.

    If you have been selected for the Federal Verification process, you will receive further guidance from our office. Your financial aid cannot be finalized until verification is complete. This process may result in changes to your aid. Verification documents need to be submitted by April 1 in order to have your aid applied to your fall bill.

  • Federal regulations require students to attend the classes for which aid is awarded. Eligibility for federal student aid is based on your enrollment status for the term in which you are enrolled. Faculty will record attendance within the first few weeks of a course. Attendance is defined by physical attendance or participation in an academically related activity such as submitting an assignment or participating in a group or online discussion.

    Students who register for courses but do NOT attend or participate will be recorded as Not Attending. You may only receive funding for only those classes you attend. You will be administratively dropped from any course where attendance cannot be demonstrated and your financial aid will be re-evaluated accordingly.

    Please visit Enrollment Verification for details.

  • Your financial aid award is based on your anticipated enrollment and living arrangements for the academic year, as reported on your FAFSA. You must notify the Financial Aid Office of any changes in your enrollment and/or housing status. Most types of aid require that you enroll in a minimum of six credits, which is half-time status.

    You must submit a Package Adjustment Request form to the Financial Aid Office if your living arrangements change (e.g., you expected to live in the residence halls, but you will actually be commuting). These changes may result in the cancellation or adjustment of your awards.

  • Your award letter and Pace Portal show that your Cost of Attendance (COA), or maximum financial aid budget for the year, which includes estimated educational costs. It allows students the option to borrow financial aid to assist in paying both billable (paid directly to Pace) and non-billable (books, travel, etc.) educational expenses.

    Room charges will vary depending on room type, building, and/or the number of students in each room. The fees listed will also vary by program and course type. Any changes to your COA will result in changes to your aid eligibility.

  • In order for our office to share information regarding your account with anyone other than yourself (the student), you must complete the Family Educational Rights and Privacy Act (FERPA) form. You must re-enter your username and password to access this form.

  • This is a federal grant for students in pursuit of their first bachelor’s degree. Students are eligible for a maximum of six annual Pell awards or 12-semester payments.

  • In order to be considered for this grant you must be Pell grant eligible and have submitted your Free Application for Federal Student Aid by November 15 of each year.

  • This is a state grant for eligible New York residents only. Your TAP award is estimated. To receive this grant, you must complete the Express TAP Application and must be a full-time student (minimum of 12 credits). You can complete the Express TAP Application electronically. If you have any questions regarding TAP or the ETA process, you may call New York State Higher Education Services Corporation (HESC) at 1 (888) 697-4372.

  • To receive this award you must be full-time (12 or more credits) and demonstrate financial need. This grant is applicable toward tuition for the fall and spring semesters only. To continue to receive this award beyond the first year, you must maintain full-time enrollment and meet satisfactory academic progress requirements.

  • These scholarships/awards are applicable toward Pace tuition for the fall and spring terms only. You must maintain full-time enrollment (12 or more credits) for eight consecutive semesters. For more information pertaining to your specific scholarship, refer to your Award Agreement form.

  • Academic progress for scholarship/merit awards and financial aid eligibility is reviewed annually after the completion of the spring semester. Students who are not making academic progress at the close of the spring semester, but who take additional classes during the summer sessions at Pace, will have their academic progress reviewed again at the end of the summer, upon request, by submitting a Satisfactory Academic Progress Appeal Form. All financial aid recipients must maintain satisfactory academic progress and program pursuits as specified in the Pace University catalog to receive aid in subsequent years.

    Visit our policy page for more information regarding the Satisfactory Academic Progress policy at Pace University.

Steps to Secure and Apply your Federal Direct Loans

The U.S. Department of Education offers various federal student loans for undergraduate students, graduate students, and parents of dependent, undergraduate students who file the Free Application for Federal Student Aid (FAFSA).

If you accepted a Direct Subsidized or Unsubsidized Student loan, complete all steps listed below:

  • You will need your FSA ID. If you do not have one, create an FSA ID.
    • This is the same account information used to electronically complete and sign your FAFSA.
  • Complete your Subsidized/Unsubsidized Master Promissory Note (MPN) on the Federal Student Aid website.
  • You must also complete Loan Entrance Counseling. This can be done any time, following the directions for the Direct Loan Entrance Counseling.
    • The Master Promissory Note (MPN) for the 2023–2024 academic year will be available in April 2023.
    • Please note the mailing address for Pace University will list only the NYC Campus and is acceptable for use by students of all campuses.

Important Information Regarding Federal Direct Student Loans

Federal Student Loans

  • The subsidized/unsubsidized loans have a current interest rate of 4.99%.
  • The amount of loan disbursed to your account will be reduced by an origination fee, which is currently 1.057%.
  • Both of these rates are subject to change. Interest does not accrue on the subsidized loan until six months after you graduate or drop below half-time (six credits).
  • Interest does, however, accrue on the unsubsidized loan while you are in school.
    • Quarterly statements from your loan servicer are provided, giving you the option to make interest payments while in school.

Visit the Federal Student Loans page of the Federal Student Aid Website for more information.

Pace University Announces a New Process for Applying for a Parent PLUS Loan in 2023-24

The Federal Direct Parent PLUS loan is a credit-based, unsubsidized, federal education loan for eligible parents of dependent, undergraduate students. To ensure the Parent PLUS loan will be available for the start of the semester, the below steps must be completed a minimum of two (2) weeks before the bill due date.

Starting for Fall 2023

To apply, follow the steps below:

  1. You, the parent borrower, and your student must log into their Pace Portal and accept the Parent PLUS Loan offer to confirm the amount you wish to borrow.
  2. Eligible parents/step-parents/adoptive parents of dependent, undergraduate students must complete the Federal Parent PLUS Loan Application and consent to obtain a credit report on the Federal Student Aid website.
    • You, the parent borrower, will need:
      • Your unique FSA ID.
      • Your and your student's social security number.
      • Decide if you are securing a loan for the entire Fall 2023/Spring 2024 academic year or for a specific Fall 2023 only or Spring 2024 only term.
  3. The Department of Education's Common Origination and Disbursement Center (COD) will notify the parent borrower via their email address provided if they are credit approved or denied.
    • If the loan is credit-approved, the parent borrower must complete a PLUS Master Promissory Note (MPN) for Parents using their FSA ID.
      • The PLUS MPN for Parents for the 2023-2024 academic year will be available to complete beginning April 2023.
      • For assistance with completing this MPN please call (800) 557-7394.
    • If the loan is credit-denied:
      • The parent borrower may follow the directions included in the credit decision notification to seek an endorser or appeal the credit decision.
      • Or, the student may be eligible for an additional Direct Unsubsidized loan of $4,000 for students with 0-64 completed credits (Freshman/Sophomore), or $5,000 for students with 65+ credits completed (Junior/Senior).

When applying for a Parent PLUS loan please consider:

  • If a parent borrower is applying for a PLUS loan to finance off-campus, non-Pace University housing, they must provide the Financial Aid Office with a copy of their completed, lease agreement, signed by all parties, with the student listed as a lessee, prior to submitting the loan application.
  • If you have borrowed a Federal Direct PLUS loan for the same student at a different school in the past, you may not need to sign a new Master Promissory Note (MPN).

Important Information Regarding Federal Direct Parent Loans (PLUS)

  • Your parent/step-parent/adoptive parent must be a US citizen or permanent resident in order to apply for this loan.
  • It is not guaranteed and is subject to credit approval.
  • The current interest rate on a Direct PLUS loan is 7.54%.
  • The amount of the loan disbursed will be reduced by the origination fee, which is currently 4.228%.
    • Both rates are subject to change.
  • Payment on a Direct PLUS loan can be deferred until six months after the dependent student (for whom the loan is borrowed) graduates or falls below half-time (six (6) credits) by contacting the servicer of the loan.

Important Information Regarding Private Education (Alternative Bank) Loans

For students/families who do not qualify for financial aid or who need additional help financing their education, consider Private Education loan options:

Private Education (Alternative Bank) Loans: An alternative loan is a private loan in the student’s, parent's, or sponsor’s name which, depending on the applicant’s creditworthiness, may require a co-signer. All first-year students require a co-signer. Students may borrow up to their cost of attendance (COA) minus any other accepted aid. We strongly advise students to apply for these loans at least 30 days before the billing due date.

  • Interest charges will begin once the funds are disbursed to the University
  • It is recommended that borrowers apply for these loans for the whole year (fall/spring)
  • If a student is applying for a loan to finance non-Pace housing, the student must provide the Financial Aid Office with a copy of his/her signed lease agreement (all parties’ signatures must be present and the student must be a lessee on the agreement) before submitting the loan application
  • Learn more about additional information on alternative loans and a historical list of participating lenders.

Pace University does not endorse any particular lender. Be sure to read all financial terms before signing for a private loan.