Terms and Conditions of Financial Aid Awards 2013-2014

Your Responsibilities: Read this document carefully and keep it for future reference. It is your responsibility to meet application deadlines and complete and return requested documents expeditiously. You and your family are expected to exercise maximum effort to contribute to your education. The Financial Aid and Affordability Office will assist you with choosing among the financial aid alternatives available to you at Hartwick.

Students who commute from home are packaged with estimated transportation and other related costs; they are not billed for room and board.

COST OF ATTENDANCE

Tuition and Fees $39,330
Room and Board $10,485
Miscellaneous Expenses* 1,400
TOTAL $51,215

*Includes books $700, travel $300, other $400.

Disbursement of Award: All scholarships and grants administered directly by Hartwick College are credited to the student's account at the beginning of the term. Scholarship, grant, and loan funds awarded by outside sources, such as the New York State Tuition Assistance Program (TAP), loans, foundation scholarships, etc., are credited to the student's account when the money is received by Hartwick. Earnings from work opportunities are paid to the student every two weeks. If a student's account shows a credit balance, the student may request a reimbursement check.

Payment of Tuition, Room, and Board: The amount owed to Hartwick is due and payable upon the issuance of semester billing statements unless satisfactory arrangements have been made with the Office of Student Accounts. The College offers an extended payment plan through an outside provider.

Hartwick College Scholarships and Grants: This gift assistance is provided directly by Hartwick College and is funded through the generosity of alumni, parents, and friends of the College. A sizeable part of Hartwick College gift assistance comes from endowed scholarships and grants and annual gifts. This gift assistance is available only to full-time students.

Federal Pell Grant: Filing the Free Application for Federal Student Aid (FAFSA) automatically triggers eligibility consideration for a Federal Pell Grant. The Student Aid Report (SAR) from the federal government shows the student's eligibility for a Pell Grant.

Federal Supplemental Educational Opportunity Grant (SEOG): This grant for students with exceptional need is reserved for students who qualify for the Pell Grant. Hartwick determines the SEOG amount, which depends on availability of funds.

Any aid that involves federal funds is made on the assumption that the College will receive the funds for which it has applied. Should the College fail to receive federal funds or receive less funding than expected, the College is not obligated to replace these funds with its own funds.

New York State Tuition Assistance Program (TAP): The state of New York provides assistance for New York residents who attend a college or university in the state. Eligible students will receive the maximum grant as determined by criteria established by the state of New York.

Federal Student Loans: Loans are made directly to students who file a FAFSA as a way to help meet educational costs and are to be repaid with future earnings. The information provided here reflects the current status of loan programs. New borrowers must complete entrance counseling prior to disbursement to learn about their rights and responsibilities under these federal loan programs. The federal student loan entrance counseling requirement is completed online. Hartwick will be notified of successful completion of this process.

Federal Direct Stafford Loan (subsidized): This federal loan is available through the Federal Government. The maximum annual loan is $3,500 for freshmen, $4,500 for sophomores, and $5,500 for juniors and seniors. During the student's in-school period (prior to the beginning of repayment) and during periods of authorized deferment, the federal government pays the interest on the loan. However, during the loan repayment period the student assumes the interest charge. Applications for these loans are available online. There is a guarantee fee of 1.051 percent that is deducted from the loan at the time of disbursement by the lender.

Federal Direct Stafford Loan (unsubsidized): This federal loan has the same terms and conditions as the subsidized Federal Direct Stafford Loan, except the borrower is responsible for interest that accrues while in school. This program is open to students who may not qualify for the subsidized Federal Stafford Loan or may qualify for less than the maximum annual loan amount. In addition, all students are eligible for a $2000 unsubsidized Stafford Loan. Students may receive both subsidized and unsubsidized Federal Stafford Loans, not to exceed the maximum annual loan limit of $5,500 for freshman, $6,500 for sophmores, and $7,500 for juniors and seniors. Further, if a student's parent is denied a Federal Plus Loan, an additional $4000 unsubsidixed Stafford Loan is available to freshmen and sophmores, and an addtional $5000 unsubsidized Stafford Loan for juniors and seniors. In these cases, the maximum loan limits are raised accordingly. There is a guarantee fee of 1.051 percent that is deducted from the loan at the time of disbursement by the federal government.

Federal Perkins Loan: This federal loan is a need-based federal loan administered by Hartwick College. Repayment of principal and interest are deferred until the recipient ceases to be enrolled at least half-time in an eligible institution of higher education. A nine-month grace period follows cessation of enrollment. Interest is then applied at the rate of 5 percent per year on the unpaid balance, and repayment can be for as long as 10 years depending upon the amount borrowed. The student completes a master promissory note online; disbursements are credited directly to the student's account.

Alternative Loan: This private loan that is a student loan and may require a cosigner, usually the parent, and is based on a credit determination of both the student and/or cosigner. No payments are required while the student is enrolled at least half-time. After completion of a promissory note and approval, disbursement is made directly to the institution and credited to the student's account. Interest is competitive and variable and begins to accrue at disbursement.

Federal Direct PLUS Loan: This is a parent loan program utilizing the Federal Direct PLUS program. During enrollment at Hartwick College, the family is responsible for a monthly payment that begins within 60 days after the final disbursement of that year's loan. A 4.204 percent origination fee is deducted from the loan proceeds upon disbursement. All Plus loans are subject to credit approval.

Federal Work-Study: Students with Work-Study as part of their financial aid award will have a chance to secure employment. A student may earn up to the limit indicated in the financial aid award. An offer of work is not a guarantee of earnings. Students are paid every two weeks for the actual hours worked during each pay period. It is suggested that students who have work assignments use this money to pay for as many of their personal expenses as possible. Students who wish to have all or a portion of their earnings credited to their bill must make arrangements with the Office of Student Accounts. A student may accept the financial aid award without Work-Study. If so, the student's budget may be balanced with an increased loan or an increased contribution from the family's resources.

Recalculations: If students who receive financial aid through College scholarships and/or grants withdraw because of illness or other unavoidable reasons, the scholarship or grant credits are recomputed to the date of withdrawal. A student whose financial aid is based on full-time status, but who drops to less than full-time status, will have the aid prorated according to the number of credit hours of actual enrollment. Hartwick scholarships and grants are cancelled if a student does not maintain full-time status. In no case will a student receive any College funds in cash. Federal and state grant and loan programs have their own policies pertaining to part-time students and withdrawal from school and take precedence over this policy in those instances.

Outside Awards: Students are required to report immediately any scholarships, loans, or other awards received or expected from other sources for educational use. It is necessary to make them a part of the financial aid package. If a student brings outside gift assistance, Hartwick will first lower Work-Study and/or loan; if the need is still exceeded by the receipt of outside awards, Hartwick may reduce some gift assistance. 

Reconsideration of Award: It is assumed that a family's financial situation will continue as indicated on the application. However, it is possible to have the aid award revised upon presenting, in writing, information that was not available at the time the aid application was completed. A favorable review of this new information could result in an increase in the aid package. This increase is contingent upon the availability of institutional funds and loan program eligibility at the time of review.

Renewal of Financial Aid: Families seeking financial aid must file the Free Application for Federal Student Aid (FAFSA) each year. If a family's financial situation improves, a greater contribution will be expected from the family. Conversely, if a family's financial situation should become less favorable, less may be expected. Students must contribute from prior earnings. For continuing students, May 1 is the priority deadline for receipt by Hartwick of FAFSA results.

Satisfactory Academic Progress (SAP): Students must make satisfactory academic progress toward their degree to continue receiving financial aid funds. Students not making satisfactory academic progress, as defined in the College catalog, will have their financial aid withdrawn until such time as they demonstrate satisfactory academic progress. SAP is evaluated annually, at the end of spring term.

Confidentiality: The amount of an award reflects a family's financial circumstances, and it is therefore suggested that it be considered a private matter between the student and parents and the College. Hartwick does not release this information to others. We consider it inappropriate for the amounts of the awards to be publicly disclosed by the recipients or their schools.

Verification: Students whose aid applications are selected by the federal government for verification will be notified by the Financial Aid Office of the documents necessary for this process. This process must be completed to comply with applicable federal regulations governing all federal student aid programs. The federal government prohibits the disbursement of federal aid, including student loans, to the student's account until the verification process is completed. If the information supplied with the verification documents is different from the information provided on the financial aid application, an evaluation of need will be made based on the verified information. In addition, Hartwick may select a student's application for the verification process.

Hartwick College does not discriminate on the basis of race, color, national or ethnic origin, religion, sex, sexual orientation, marital or parental status, veteran status, age, or handicap in its policies and procedures of admission, financial aid, instruction, athletics, employment, or other College-administered activities.

Providing false information for purposes of obtaining financial aid will result in the revocation of any aid received. If federal funds are involved, the federal government will be so advised. In addition, the student will be ineligible for any future aid.

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