• Financial Aid
  • Federal Programs

    School Code (Pell): 010051 

    Federal Programs Website: www.fafsa.gov
     

    • You should NEVER reveal your PIN (the code you enter to renew/sign your FAFSA online) to anyone, no matter who asks and regardless of whether the request is made by phone, e-mail, or in person.
    • Use your own email (LaGuardia student email) when requesting the PIN.  Do not use someone else's.

    And remember: no one from Student Financial Services will ever ask you for your PIN.

  •  A) Federal Pell Grants

    Federal Pell Grants:

    Application Procedures: The completed Web application takes a maximum of two weeks to process. A processed Student Aid Report (SAR) will be sent to the applicant via email. The amount of the applicant's award is determined from the SAR by the office of Student Financial Services. Upon enrollment, funds are paid directly to the applicant or applied to the students' tuition bill.


    Selection of Recipients and Allocation of Awards: The Federal Pell Grant is an entitlement program. Eligibility and award amounts are based on financial need. Financial need is determined by a formula applied to all applicants. It was developed by the U.S. Department of Education and is reviewed annually by Congress. The Expected Family Contribution (EFC) is calculated by this formula.


    Award Schedule: 2013-2014 awards range from $287.00 to $2,822.50 per semester. The amount of the award will be affected by costs of attendance and full-or part-time enrollment status. The Federal Pell award does not duplicate State awards.


    Rights and responsibilities of Recipients: Students must continue to make satisfactory academic progress each term in the degree program in which they are enrolled to receive funds. Students must not owe any refunds on Federal Pell Grants or other awards paid, or be in default on repayment of any student loan.


    Award payments made by checks are mailed to the student's address on file with the Financial Aid Office. Payment Schedules are also available in the office of Student Financial Services.


    Students must attempt 24 credits during the academic year in order to earn the full Federal Pell award. Therefore, enrollment status for Federal Pell is as follows:


    Full-time  3/4 Time  1/2 Time  LTHT 
    12 Cred/Eq 9 - 11.5 Cred/Eq 6 - 8.5 Cred/Eq 1 - 5.5 Cred/Eq

     Full-time 12 credits (or equivalent); 3/4 time 9 through 11.5 credits (or equivalent); 1/2 time 6 through 8.5 credits (or equivalent); and less than half time 1.0 through 5.5 credits (or equivalent).



     B) Federal Supplemental Educational Opportunity Grants (FSEOG)

    Federal Supplemental Educational Opportunity Grants (FSEOG)

    Selection of Recipients and Allocation of Awards: The applicants must:

    1) have exceptional financial need and
    2) be enrolled at least half-time (6 credits minimum).


    Award Schedule: The awards range from $200.00 to $400.00 in 2013-2014.


    Rights and Responsibilities of each term Recipients: The student must continue to make satisfactory academic progress each term, and meet all the requirements for the Pell Grant.



     C) Federal Perkins Loan (FPL)

    Federal Perkins Loan (FPL)

    Selection of Recipients and Allocation of Awards: Loans are available to students enrolled at least half-time (6 credits) in a degree program and in approved post-secondary institutions. LaGuardia students must be enrolled at least half-time in their current session in order to receive the Direct Loan funds. Online pre-loan entrance and exit counseling is required.


    Award Schedule: Awards range from $900.00 to $1,800.00 for each year of undergraduate study. The total debt cannot exceed $20,000 as an undergraduate.


    Rights and Responsibilities of Recipients: Continued eligibility is dependent on maintenance of satisfactory academic progress. The current interest rate of 5% is payable during the repayment process and begins six months after graduation or leaving school and may extend over a period of 10 years. Payment is not required for up to three years of active U.S. military service or service in the Peace Corps, VISTA, or similar national program.
     

    Eligibility of Defaulted Borrowers: 674.2, .9(i) A borrower who defaults on a loan made under the Federal Perkins Loan Program is ineligible for further assistance until he or she has:
     

    • voluntarily made six consecutive monthly payments; (payments obtained by income tax offset, wage garnishment, income or asset execution, or pursuant to a judgment are not "voluntary".)
       
    • voluntarily made all payments currently due;
       
    • repaid the full amount due, including any accrued interest, late fees, and collection costs;
       
    • received a deferment or forbearance based on a condition that predates the borrower reaching a 240 or 270-day past due status;
       
    • had the loan cancelled due to permanent and total disability;
       
    • had the loan discharged in bankruptcy;
       
    • had the loan forgiven due to a closed school situation; or
      repaid the loan in full under the compromise repayment provision under 674.33(e).
      A defaulted Perkins borrower may use satisfactory repayment arrangements ( i.e., the making of six consecutive monthly payments on time) to regain Title IV eligibility only once.


      Federal Perkins Loan Rehabilitation Program 674.39, .47(e)(5): Effective July 1, 2000


       
    • Once a borrower has made twelve on-time, consecutive monthly payment (as defined by    the institution), a defaulted loan is rehabilitated. A borrower may rehabilitate a defaulted    loan only once.
       
    • Within 30 days of receiving a borrower's twelfth payment,
       
    • the borrower returns to regular repayment status;
       
    • the borrower's 12 payments are consider as the first year's payment under the 10-year    repayment maximum; and
       
    • credit bureaus to which the defaulted loan was reported are notified to remove the default from the borrower's credit history.

    Under a rehabilitation program, collection costs charged to a borrower may not exceed 24% of the unpaid principal and accrued interest.


    NOTICE: If you have been awarded a Federal Perkins Loan for the 2013-2014 academic year, and accept this loan, you are required to bring to the office of Student Financial Services (C-107) proof that you have completed pre-loan counseling on-line. Log on to the Financial Aid Office’s web page, http://www.lagcc.cuny.edu/sfs/ click on Resources, then click on the link for Entrance & Exit for Perkins Loan.


    Pre-loan counseling will give you the opportunity to review the terms of your loan and your rights and responsibilities once you have received the loan.


    You will not receive your Perkins Loan check until you have completed the pre-loan counseling session and have completed the necessary forms.


    Please call (718) 482-5191 to speak to the Perkins Loan Coordinator if you have any questions.



     D) Federal Work-Study Program (FWS)

    Federal Work-Study Program (FWS)

    Selection for Recipients and Allocation of Awards: The applicant must be enrolled at least half-time (6 credits or tuition units).
    Employment is reasonably available to all eligible students who are in need of financial aid in the institution. In the event that more students are eligible for FWS than there are funds available, preference is given to students who have greater financial need and who must earn a part of their educational expenses.


    Award Schedule: The office of Student Financial Services arranges jobs on campus or off-campus, with public or private nonprofit agencies, such as hospitals, for up to 20 hours a week, based on the availability of funds.

    Factors considered by the office of Student Financial Services in determining whether, and for how many hours, the recipient may work under this program are:

     - financial need, class schedule, and academic progress.
    The minimum wage is $8.00 for 2011-2012. Awards range from $900.00 to $2,000.00.


    Rights and Responsibilities of Recipients: Satisfactory academic progress must be maintained, and all the requirements of the Pell Grant must be met.
     



     E) Federal Direct Loan Program (FDL)

    Federal Direct Loan Program

    What is the Federal Direct Loan program?

    The Federal Direct Loan Program provides federally insured, low-interest, long-term loans to you or your parents to help you cover the costs of attending college. The federal government is your lender, not a bank or other lending institution, and makes the loan directly to you or your parents through the school. The school determines your eligibility, calculates the loan amount, and disburses the money. Once the loan is made, it is managed and collected by the U.S. Department of Education. Your direct loan is money that is borrowed and must be repaid with interest after you leave school.


    • Federal Direct Subsidized Loan-Eligibility for this loan is based on the information you provided on your FAFSA. The federal government pays the interest on the loan while you are in school and during other deferment periods.  
    • Federal Direct Unsubsidized Loan-Allows you to borrow money in addition to any subsidized loan amounts for which you may be eligible. You will be charged interest from the time an unsubsidized loan is disbursed until you pay the loan in full.
    • Federal Direct PLUS Loan-Allows the parents of dependent students to borrow up to the cost of attendance at LAGCC. The federal government charges your parents interest from the date of the first disbursement until the loan is paid in full.

    Request a Federal Direct Loan

    Follow these steps to request a Federal Direct Loan.

    1. If you haven't already done so, file a Free Application for Federal Student Aid (FAFSA) 
    2. If you are a first-time Direct Loan borrower at LAGCC, you must complete Entrance Counseling at  www.studentloans.gov.
    3. If you are a first-time Direct Loan borrower at LAGCC, sign an Electronic Master Promissory Note (e-MPN) using the PIN you used to sign your FAFSA at www.studentloans.gov  
    4. Decide the amount you wish to borrow using the Federal Direct Borrowing Chart 
    5. Complete and submit a paper Federal Direct Loan Request form 

    Federal Direct Parent (PLUS) Loan

    If you are dependent and your parents wish to request a Federal Direct PLUS Loan, you must fill out and submit a paper Federal Direct PLUS Loan Request form .  Submit the completed paper form to the Financial Aid Office to apply for a PLUS Loan.  

    Parents who are first time PLUS Loan borrowers must sign an Electronic Master Promissory Note (e-MPN) online at www.studentloans.gov  using a Department of Education PIN. If your parents do not know or have forgotten their PIN, they may apply for a new one at the PIN website 


    Increase Your Federal Direct Loan

    If you have already submitted a loan request for the current school year but need to ask for additional loan funds, complete and submit a paper Federal Direct Loan Increase Request.


    Cancel Your Federal Direct Loan

    If you have already submitted a loan request for the current school year but now wish to cancel your loan, complete and submit a paper Federal Direct Loan Cancellation Request.


    What are the interest rates for federal student loans?

    The following table provides interest rates for each type of federal student loan.


    Loan Interest Rates by Disbursement Dates 

    Loan Type  First Disbursed between July 1, 2013 and June 30, 2013 
    Direct Subsidized Loans Fixed at 3.86%
    Direct Unsubsidized Loans Fixed at 3.86%
    Direct PLUS Loans (Parents) Fixed at 6.41%

    Federal Direct Borrowing Chart 


    Alternative Loans 

    Alternative loans, also called private loans, are used at LaGuardia Community College by students and their families when:


    • the student is not eligible for a Federal Direct Loan because they do not meet the federal eligibility requirement.
    • the student is receiving the maximum Federal Direct Loan allowed for the loan period but still needs additional funds to meet the cost of attendance.

    Students and parents who are eligible for Federal Direct Loan funds should always borrow through the Federal Direct Loan program before turning to alternative loans to finance the student’s education at LaGuardia Community College. Alternative loan costs vary widely between programs. All private lenders will review the borrower’s credit history and some will require a loan co-signer. The Office of Student Financial Services at LaGuardia Community College does not endorse or recommend any particular alternative loan program or any particular private lender. Students and their families should carefully consider the interest rates, loan fees, and terms of the alternative loan program before deciding on a private lender. Some alternative loan programs have restrictions regarding the minimum number of credits for which the student must enroll, as well as the requirement that the student must be matriculated (enrolled in a degree program).

     

     F) Federal Direct Parent Loan for Undergraduate Student (FDPLUS)

    Federal Direct Loan for Undergraduate Students (FDPLUS)

    Enables either natural or adoptive parents of dependent undergraduate students to borrow per child up to the cost of education, for each academic year at federally approved schools. The amount borrowed in any year cannot be greater than the cost of going to school during that year, minus all other financial aid received for the period of the loan. Costs that may be covered include tuition and fees, room and board, books, transportation, and an allowance for personal expenses. FDPLUS loans for which the first disbursement was made on or after July 1, 1993 have no aggregate loan limit. Interest rates are variable and change every July 1st.


    Repayment of the loan must begin within 60 days after the date funds are distributed. Borrowers have 10 years to repay. The loan servicer may charge an Insurance Premium of up to 4% on the loan principal. This premium is deducted from each loan disbursement. Application is made through the office of Student Financial Services by completing a Loan Origination Request Form. Parents will be eligible for the same authorized deferments described in the Federal Direct Loan Program.

    Please call (718)482-5181 if you wish to speak to the Federal Direct Loan Coordinator.



     G) Satisfactory Academic Progress Requirements for Federal Aid (Title IV)

    Satisfactory Academic Progress Requirements for Federal Aid (Title IV)

    Federal regulations stipulate that a student at LaGuardia Community College may remain eligible to receive Title IV assistance upon achieving at least a "C" average, or its equivalent according to the College’s retention policy, and accumulating credits towards the degree according to the following standards:


    1) a student's earned credits are equal to or greater than
    two-thirds of the credits the student has attempted at the institution;


    2) the credits a student has attempted are not more than
    150 % of the credits normally required for completion of the degree. If the standard in:


    If 1) and 2) are not met, eligibility may be retained by meeting the following conditional standard.


    the credits the student has earned are equal to or greater than .875 of the total amount of credits attempted minus 21.
    Students who fail to meet the conditional status will lose Title IV eligibility. They may file a Financial Aid Waiver Appeal through the Academic Standing Committee. The decision of the committee is final.


    Special Value Courses: To be eligible to receive Title IV, you must, according to Federal guidelines, be "making significant progress toward your degree", meaning that you must be earning credits at a sufficient rate. The federal guidelines for achieving full-time status in a semester do allow you to include, along with credits, the tuition units of the "special value" courses, but there is a limit: after you have registered (and received Title IV money) for thirty or more "special value" tuition units, Title IV programs will not pay for any additional "special value" courses. For example, if you register for Basic Writing 099 and Math 095, those two courses count for a total of 10.0 "special value" tuition units. If those units are used in calculating your Title IV award for the semester, you will have 20.0 "special value" tuition units remaining in your account.


    If, however, you register for other, "non-special value" courses which make you full-time without using the "special value" tuition units, you would still have 30 "special value" tuition units in your account.
     

    Once you have used up your 30 "special value" tuition units, you can only receive Title IV money for "non-special value" courses. Any future awards will be based on the credit values of regular courses only. It is therefore to your advantage to try to take "special value" courses along with regular courses, if you have met the prerequisites.


    Note: Although ESL courses are listed as "special value" courses, those courses do not count toward the Title IV maximum.


    Probation: Satisfactory academic progress is monitored each term. Students who do NOT meet Satisfactory Academic Progress Standards are NOT eligible for aid. Students can file an appeal. Appeals are reviewed by the Academic Standing Committee and their decision is final. If the appeal is granted the student will be eligible for aid.


    Financial Aid Satisfactory Academic Progress Appeal Form 2013-2014   


    Additional Regulations: For Federal Pell awards, students under 24 years old as of January 1st must prove their independence if they claim to be independent of their parents. They must also have unusual circumstances which must be documented.


    Students are reminded that attendance is a requirement for receiving financial aid. Failure to attend classes could result in a reduction or loss of financial aid. If students charge tuition and/or books and attend classes, they are still liable for the costs and will be billed accordingly.


    Permanent residents who have not had their status confirmed by INS/DOH must also submit a copy of their permanent resident card. Students who have an I-94, with the following endorsements, are no longer eligible for Title IV Aid:


    a) Adjusted Applicant
    b) 245
    c) 245 Applicant
    d) Applicant for Permanent Residence
    e) Voluntary Departure and
    f) Deferred Action.



     H) Total Withdrawals and The Return of Title IV Funds:

    Total Withdrawals and The Return of Title IV Funds:

    The Higher Education Act of 1965 as amended in 1998 (Public Law 105-244) revised the rules to return Title IV funds (e.g. federal Pell ) for students who completely withdraw from a term of enrollment. The rules require that students earn their Financial Aid based on the period of time they remain enrolled.


    During the first 60% of the term, students earn Title IV funds in proportion to the time they are enrolled. If a student received more aid than he/she earned, the unearned portion must be returned to the Department of Education. If a student received less aid than the amount earned he/she may be eligible for a late disbursement.


    The portion of aid the student is entitled to receive is based on a percentage by comparing the total number of days in the semester to the number of days completed before the withdrawal. For example if you completed 20% of the semester, you would have earned 20% of your Title IV aid. If you received 100% of your Title IV aid you would have to return the unearned portion. The regulation stipulates that the amount to be returned is to shared by the college and the student in proportion to the aid that each possessed. The college's share of the excess funds is the lesser of:


    • the total amount of unearned aid or, 
    • institutional charges multiplied by the percentage of aid that was unearned. 

    The college's share is allocated to the Title IV programs as determined by statute. The student's share is the difference between the total unearned amount and the college's share. This is also allocated to the Title IV programs as determined by statute. The law provides that any amount that the student returns to a grant program be reduced by half. The amount to be returned is also considered an overpayment and must be returned within 30 days to the Department of Education. If the student does not repay the overpayment in full or make a satisfactory payment arrangement within 45 days from the date of notification, the student will become ineligible for future Title IV funds.

    Students who remain enrolled beyond the 60% point of the term are considered to have earned all their aid and do not have to return any Title IV funds.



     I) Effects of Withdrawing on your Title IV Aid

    Effects of Withdrawing on your Title IV Aid:

    Federal Pell Grant - If you withdraw from one or more of your classes after the first day of classes but before the official withdrawal date listed in the schedule of classes and remain with at least 1.0 tuition unit through 5.5 tuition units, the amount of Pell funds you receive for the session will be reduced. If this amount is less than the amount you charged or credited towards tuition/fees and a book voucher, you will immediately have to pay the difference to the Bursar's Office.


    Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Perkins Loan (FPL), Federal Work Study (FWS) -If the class or classes you withdraw from by the official withdrawal date reduce (s) your enrollment status to less than half-time status (as described in the Schedule of Classes) you will not receive any funds for the session from these programs. If you work in the Federal Work Study Program, you must stop working the day you withdraw-officially or unofficially - to below half-time status.


    Federal Direct Loan Program (FDL) - You must maintain at least a half-time enrollment status (as described in the Schedule of Classes) throughout the semester, otherwise you are not eligible for funds from the above loan programs. If you drop to less - than a half -time status, you immediately start using your grace period and must contact your loan service for an Exit Interview and repayment information.


    Use the following examples to help determine your eligibility for Financial Aid.


    Example I. Withdrawing from all classes. 


    Student originally registers as a full-time student. After the last day of the tuition refund period, the student withdraws from all of the classes. Students is currently receiving payment #2 from TAP.


    Title lV Aid-Pell Grant - During the first 60% of the term your award will be pro-rated based on the number of days completed before the withdrawal.


    FSEOG, FPL, FWS, FDL - Same as Pell Grant.


    College Discovery - not eligible for C.D. funds because student withdrew from all classes and dropped below full-time status.


    TAP - will pay for the session from which all classes have been withdrawn since it is after the last day of the tuition refund period. The student will be seeking TAP payment #3 when the student returns the following semester.


    In order to receive TAP payment (#3), the student would have to have earned 9 credits or more, have a GPA of at least 0.75 and complete 50% of the courses in the semester the student received TAP in the prior term.


    Therefore, since the student withdrew from all classes and did not complete 50% of the courses in the semester for which the student received TAP
    payment #2, the student would not be eligible for TAP payment #3. (See Progress and Pursuit Chart.)


    Example II. Withdrawing From One Class After the Last Day of the Tuition Refund Period.
    Student originally registers as a full-time student and withdraws from a class after the last day of the tuition refund period. The student becomes 3/4 time with 9 credits/9 tuition units. Student is currently receiving payment #3 from TAP.


    Title IV Aid - Pell Grant would be reduced from full-time to 3/4 - time payment. If Session II brings student back up to full-time, remaining payment then could be received.


    FSEOG, FPL, FWS, FDL - would remain okay to pay.


    College Discovery - not eligible for C.D. funds because student dropped below full-time status. If Session II brings student back up to full-time, payment then could be received.


    TAP - will pay for the semester since it is after the last day of the tuition refund period. When the student returns he or she will be seeking TAP payment #4 the following semester.


    In order to receive TAP payment (#4), the student would have to have18 credits or more and with GPA of at least 1.30 and complete 75% or 9 credits. (See Progress and Pursuit Chart).



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  • FAFSA Code:
    010051

    TAP Code:
    1403

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