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Types of Financial Aid


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Types of Financial Aid

Federal Financial Aid

Federal Pell Grant: (Federal School Code – 002867)

A Federal Pell Grant is awarded to eligible full- and part-time undergraduate students. The amount of the award is determined by the student’s financial need.  The Federal Pell Grant may be used for any college related expense and, as a grant, does not have to be repaid (unless the student stops attending classes and it is determined that the student has been overpaid).

To determine eligibility, the U.S. Department of Education uses the Federal Methodology Formula, created by Congress, to evaluate the information you report when you apply online by completing the Free Application for Federal Student Aid (FAFSA). The formula produces an Expected Family Contribution (EFC) number. The Student Aid Report (SAR) contains this number and will tell you if you’re eligible.

Congress determines the maximum award annually. The maximum award for the 2011-2012 academic year is $5500. How much you are awarded is based on your EFC, cost of attendance, whether you are a full or part-time student.  The Federal Pell Grant will be credited to the student’s account and will be disbursed according to the College’s disbursement policy.

Federal Supplemental Educational Opportunity Grant (FSEOG)

A Federal Supplemental Educational Opportunity Grant (FSEOG) is for students with exceptional financial need. Defined as those students with the lowest Expected Family Contributions (EFC). Awards range from $100 to $400, depending upon the student’s financial need and the availability of FSEOG funds.

Federal Work Study Program

Students who demonstrate financial need may be awarded a minimum of $100 to a maximum of $1,500 per academic year under the Federal Work-Study program. This program gives the student the opportunity to earn money to pay educational expenses. When possible, the program encourages community service work and work related to course of study. Work-study jobs are available on and off campus. The amount a student can earn cannot exceed the total work-study award.

William D. Ford Direct Loan Program

Direct Stafford Loans are a way for the student to borrow money from the Department of Education to help finance his/her education. The student may authorize the college to use loan proceeds to pay for college charges, and balances will be refunded to the student to be used for other educational expenses. Be a Smart Borrower!

There are three types of Direct Student Loans:

Direct Subsidized Stafford Loans – A Subsidized loan is based on financial need. Interest will be deferred while the student is in college.

Direct Unsubsidized Stafford Loan – An Unsubsidized loan is not based on financial need. Interest starts accruing at the time the loan is disbursed and continues until it is paid in full.

Direct Parent PLUS loan – A PLUS loan is for parent(s) of eligible dependent students to assist with their child’s educational expenses.  Repayment begins 60 days after the loan is disbursed.

Use the chart below to determine your loan amount. First year students are defined as students who have earned 0-29 credits.  Second year students are defined as students who have earned 30+ credits

Stafford Loan Maximums

Dependent Undergraduates

  • First Year
    • Subsidized: $3,500
    • Subsidized & Unsubsidized: $5,500
  • Second Year
    • Subsidized: $4,500
    • Subsidized & Unsubsidized: $6,500


Independent Undergraduates (and dependent students whose parents are denied the PLUS loan)

  • First Year
    • Subsidized: $3,500
    • Subsidized & Unsubsidized: $9,500
  • Second Year
    • Subsidized: $4,500
    • Subsidized & Unsubsidized: $10,500

Student Loan Practices Code of Conduct

To determine eligibility for a Federal Stafford Loan please complete the following steps:

  • Stafford Entrance Counseling
  • Master Promissory Note (eMPN) (also available for Parent Plus Loans)
  • Available on line at studentloans.gov

Gainful Employment

Veteran’s Benefits

Eligible veterans are entitled to receive monthly educational benefits for full- or part-time study under the provision of several different veteran programs. They include:

  • Chapter 30 Montgomery G.I. Bill – Active Duty
  • Chapter 31 Vocational Rehabilitation
  • Chapter 32 Post – Vietnam Era Veterans’ Educational Assistance Program
  • Chapter 35 Survivors’ and Dependents’ Educational Assistance Program
  • Chapter 106 Montgomery G.I. Bill – Selected Reserve
  • Application forms are available at and submitted to the Registrar’s office.

Return Unearned Active Military Tuition Assistance Funds Policy

Military Tuition Assistance Recipients

Military Tuition Assistance (TA) is awarded to an active military student under the assumption that the student will attend school for the entire period for which the assistance is awarded. When an active military student withdraws, the student may no longer be eligible for the full amount of TA funds originally awarded. To comply with the U.S. Department of Defense policy, FM will return any unearned TA funds on a proportional basis through at least 60% portion of the period for which the funds were provided.


An active military student’s official withdrawal date is used as the last date of attendance and to calculate earned percentage of TA. An active military student’s official withdrawal date is determined by using the last date of attendance that is documented and submitted to the Office of the Registrar.

Number of days completed
Total days of the course (start to end date) = Percent of TA earned

FM’s schedule for the return of unearned Tuition Assistance funds to the U.S. Government is as follows:

Student withdraws before or during weeks 1–2 = 100%
Student withdraws during weeks 3–4 = 75%
Student withdraws during weeks 5–6 = 50%
Student withdraws during weeks 7–9 = 40%
Student withdraws end of week 9 is the completion of 60%
Student withdraws during weeks 10–15 = No Return

The amount of TA funding that is earned is determined on a pro-rata basis. If this results in an unpaid tuition balance, payment would be the responsibility of the active military student. Once a student has attended at least 60% of the period for which TA funds were approved, the active military student is considered to have earned 100% of the TA funds.

New York State Financial Aid:

New York State Tuition Assistance Program (TAP) (School Code – 2240)

TAP is a New York State grant program available to qualified New York State residents who attend an approved postsecondary institution within the State on a full-time basis. Eligibility is based on the family’s previous year’s New York State taxable income. Awards will range from a minimum of $401 per year to a maximum of the annual cost of tuition or $5000 whichever is less.

Students and families will initiate the TAP application process by completing the Free Application for Federal Student Aid (FAFSA). The New York State Higher Education Services Corporation (HESC) administers the TAP program. TAP is a grant and does not have to be repaid. New York State TAP requires a minimum 2.00 cumulative grade point average after a student has received 4 payments.

TAP (with ADA)

Education Law section 661(d)(4) provides that for students who are disabled as defined by the Americans with Disability Act of 1990, “the full-time attendance requirement is eliminated. Such disabled students may be in part-time attendance, as defined by the commissioner in order to be eligible to receive payments. . .”

According to section 145-2.1(a)(4) of the Regulations of the Commissioner of Education, for a student with a disability, “part-time study or attendance shall mean enrollment for at least three but less than 12 semester hours per semester or the equivalent, or at least two but less than eight semester hours per quarter.”

ADA Part-Time TAP recipients must meet all TAP eligibility requirements. Prior to the 2015-16 academic year, good academic standing was determined using the same satisfactory academic progress standard used for Aid for Part-Time Study—that was, for each ADA Part-Time TAP award, a recipient had two semesters to meet the progress standard.
Beginning with the 2015-16 academic year, for ADA students who received their first state award during the 2010-11 academic year and thereafter and who are enrolled less than full-time, good academic standing will be determined using new SAP standards which does not modify the requirements for disabled students, but aligns them to be equivalent with those required of full-time students.

New York State Educational Opportunity Program (EOP)

The Educational Opportunity Program (EOP) at Fulton-Montgomery Community College provides necessary support systems for students to achieve academic and social (interpersonal) success.  Students are considered for entry to EOP by indicating interest in the program via their application for admission. Students also must complete the FM EOP Application and meet the financial and academic parameters for program entry.

Funded by the State University of New York (SUNY), EOP students across the state have achieved higher graduation rates than their non-EOP cohorts through the support, guidance and academic expectations set forth by the program.  The goal of EOP is to increase the number of economically and academically challenged students completing college degrees.

EOP provides a framework for student success that includes: one-to-one case management of participants, time management skills, adjusting to college level academic expectations, transitioning to college life, maintaining appropriate study habits, tutoring in math, sciences and writing and meeting with the academic counselor to ensure adequate supports. The program also provides limited financial assistance and textbook funding. EOP students have exclusive access to learning support services in the EOP Study Space located on the second floor of Raiders Hall in the FM Student Housing complex.

EOP students are required to fully participate in activities and meet the obligations set forth by the program.  These requirements/activities include: bi-weekly meeting with their academic coach/counselor, required study hours in the EOP Study Space, participation in mandatory tutoring for any class for which the student has earned less than a “C” average, and participation in at least three EOP Seminar workshops each semester.

EOP will also assist students in advancement of their academic goals beyond FM. Through our network of relationships with other EOP Directors across the state, the EOP office can make contact with other programs to find the best fit for advanced academic pursuits. Through full participation in EOP students acquire the necessary skills for college and career success. They are immersed in an EOP family through which they can access life-long support, networking and provide a pipeline of support for future generations of EOP students. Once accepted into the program, students are forever “Proud to be EOP.”

For further information regarding the program and to check on your eligibility for services, please contact:

Laura LaPorte
Associate Dean for Student Recruitment & Admissions; EOP Director
518-736-3622 extension 8300

FM EOP Application

New York State Aid for Part Time Study (APTS)

The APTS grant program provides funding for students who are attending college on a part-time basis (3-11 degree applicable credits per term). At FM this grant is awarded to students who have a 3.00 cumulative grade point average and earned a minimum of 6 credits.  APTS awards range from $100 to $1000. A separate APTS application is required along with a signed copy of the NYS tax return. APTS applications are available on this website under Forms.