Financial Aid Sources
Scholarships, Grants, and Loans
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Because the Berkeley College administration believes that no one should be denied a Berkeley education for lack of funds and that students may need to supplement their own resources to meet college costs, a wide variety of financial assistance programs and financing options are offered. Many of the programs described below are unique to Berkeley. Financing an education begins with proper planning. Therefore, all applicants are offered the opportunity to meet with a financial aid administrator to develop a personalized plan to meet their educational expenses. Applications for the following financial assistance programs are available at any Berkeley Financial Aid Office. Berkeley Financial Aid | Federal Financial Aid New Jersey State Financial Aid | New York State Financial Aid Alumni Association Scholarships: Berkeley offers 160 partial- and eight full-tuition scholarships which are awarded annually to high school seniors who demonstrate a high level of academic achievement in high school. To be considered for these scholarships, students must complete the admissions requirements by December 15. Alumni Scholarships are renewable based on the recipient achieving a cumulative grade point average of 3.00 at the end of each academic year and consecutive term enrollment as a full-time student. Ethel C. Townsend Foundation Scholarships: Each year, the Ethel C. Townsend Foundation awards a wide variety of privately-funded scholarships through the generosity of friends and alumni. Scholarships are awarded each year based on a comprehensive review of student admissions applications and supporting credentials. Award amounts and terms vary. Some of the scholarships require a written essay and application deadlines may apply. Details of specific awards and criteria for each may be obtained by contacting an Admissions Office representative. Achievement Awards: Students with a high level of achievement as of the date of application will be considered for an award without consideration of income. Achievement awards are renewable based on the recipient’s cumulative grade point average of 3.00 at the end of each academic year and consecutive term enrollment as a full-time student. Award amounts vary. Challenge Program Awards: Awarded as a loan, with the possibility of full or partial cancellation based on the student’s cumulative grade point average at the time of graduation. This award is renewable based on the recipient’s cumulative grade point average of 3.00 or better at the end of each academic year. Award amounts vary. Howard L. Newhouse Grants: The Howard L. Newhouse Grant program provides additional assistance to those students who demonstrate need after federal and state aid have been exhausted. Award amounts vary and are determined by the Financial Aid Office. Non-Resident Student Grants: Students who are not residents of the states of New Jersey or New York are considered for this need-based grant. Award amounts vary and are determined by the Financial Aid Office. Robert V. Maher Access Grants: Students who are at least 23 years old are considered for the Robert V. Maher Access Grant. Awards are made to students who demonstrate need after federal and state aid have been exhausted. Award amounts vary and are determined by the Financial Aid Office. Woodland Park Scholarship: A scholarship of one-third tuition is awarded to a high school senior with a minimum grade point average of 2.50 who is a resident of Woodland Park (formerly West Paterson), New Jersey. Residence Hall Grants: Residence hall students are considered for this need-based grant at the time of application. Preference is given to applicants who reside beyond a 100-mile radius of campus. A minimum cumulative grade point average of 2.50 is required to receive the award. The grant is renewable quarterly based on the recipient’s continued attainment of a cumulative grade point average of 2.50, and consecutive term enrollment as a full-time day residence hall student. Award amounts vary. DECA Scholarships: Based on DECA (Distributive Education Cooperative Association) membership and an evaluation of the high school transcript, high school seniors are eligible to apply for partial- and full-tuition scholarships. This grant award is renewable based on the recipient’s cumulative grade point average of 3.00 or better at the end of each academic year and consecutive term enrollment as a full-time student. FBLA Scholarships: Based on FBLA (Future Business Leaders of America) membership and an evaluation of the high school transcript, high school seniors are eligible to apply for partial- and full-tuition scholarships. This grant award is renewable based on the recipient’s cumulative grade point average of 3.00 or better at the end of each academic year and consecutive term enrollment as a full-time student. International Student Grants: Up to 25 percent of tuition based on past academic achievement and financial need for students who are not residents of and are not living in the United States. These grants are awarded by the International Student Department upon admission to the College. Transfer Grants: A limited number of grants are available to students who have earned Associate’s degrees from other institutions with which Berkeley has approved articulation agreements. A list of approved institutions is available in the Advisement Office. World Trade Center Supplemental Scholarship: Eligible students will be awarded the difference between the state-calculated WTC award and the College tuition rate. Berkeley TAP Grant: Full-time students who are eligible for a TAP Grant from New York State may receive a grant of $1500 per academic year from Berkeley College. Part-Time Employment: Students who are interested in part-time employment at local companies, agencies, and organizations while attending Berkeley College are encouraged to seek assistance from the Career Services Department. Payment Plans: A no-interest payment plan for quarterly charges is available. Payments include a $20 fee for each payment plan. The first payment is due on the first day of the month preceding the start of the quarter. Credit disclosure forms are required. A fee will be charged for late payments. . Federal Pell Grant: The Federal Pell Grant program provides awards of up to $5,350 per academic year for financially eligible undergraduate students who previously have not earned a Bachelor’s degree. Recipients must be United States citizens or eligible noncitizens enrolled in degree or certificate programs. The Free Application for Federal Student Aid (FAFSA) must be completed when applying for financial assistance. Federal Loans: Berkeley College participates in the William D. Ford Direct Loan Program. Eligible students and their parents borrow Stafford and/or PLUS Loans directly from the U.S. Department of Education, and repay the loans directly to the U.S. Department of Education. Promissory Notes are available on the Internet at https://dlenote.ed.gov/empn/index.jsp. Various repayment and deferment options exist for federal loans, (including but not limited to deferments for service under the Peace Corps Act; service under the Domestic Volunteer Service Act of 1973, and comparable service as a volunteer for a tax exempt organization in the field of community service). All students will be provided entrance counseling that describes these options prior to loan disbursement Federal Subsidized Stafford Loan: Available to students who are enrolled at least half-time and have financial need. A fixed interest rate of 5.6 percent applies, and in most cases repayment must be completed within 10 years. The U.S. Department of Education pays the interest while the borrower is in school and during grace and deferment periods. First year students may borrow up to $3,500 for qualified educational expenses; second-year students may borrow up to $4,500. Third and fourth-year students may borrow up to $5,500 annually. Loan amounts will be certified by the College based on enrollment status and need as determined by federal formulas. Federal Unsubsidized Stafford Loan: Available to students who are enrolled at least half-time. Financial need is not a requirement. Borrower is responsible for interest during the life of the loan. A fixed interest rate of 6.8 percent applies, and in most cases repayment must be completed within 10 years. First-year students may borrow up to $6,000 for qualified educational expenses, (first-year students not eligible for a Subsidized Stafford Loan may borrow up to $9,500); second-year students may borrow up to $6,000 (up to $10,500 if not eligible for a Subsidized Stafford Loan). Third and fourth-year students may borrow up to $7,000 annually (up to $12,500 if not eligible for a Subsidized Stafford Loan). Loan amounts will be certified by the College based on enrollment and dependency status as determined by federal regulations. Federal PLUS Loan: Available to parents of dependent students who are enrolled at least half-time. Financial need is not a requirement. Parent is responsible for interest during the life of the loan. A fixed rate of 7.9 percent applies. In most cases, repayment must be completed within 10 years. Parents may borrow up to the cost of attendance minus other financial assistance. Loan amounts will be certified by the College based on enrollment and dependency status as determined by federal regulations. Federal Supplemental Educational Opportunity Grants (FSEOG): In addition to a Federal Pell Grant and/or Stafford loan, students with exceptional need who are eligible for a Federal Pell Grant may be awarded a Federal Supplemental Grant of $300 to $3,000 per academic year. Eligible students are automatically considered for this grant. The Free Application for Federal Student Aid (FAFSA) must be completed annually. Academic Competitiveness Grants (AC Grants): The Federal AC Grant program provides awards of up to $750 per academic year for full-time, first-time freshmen who graduated from high school after January 1, 2006, and up to $1,300 per academic year for sophomores who graduated from high school after January 1, 2005. Awards are limited to Pell Grant recipients who are U.S. Citizens or eligible non-citizens and who completed a “rigorous program of study” in high school, as defined by the U.S. Department of Education. The Free Application for Federal Student Aid (FAFSA) and an official high school transcript must be submitted for consideration of this grant. Federal Work Study (FWS): Eligible students can seek part-time employment either on campus or in community service positions off campus. Students may work up to 20 hours per week while school is in session. Interested students should contact the Career Services Department. Veterans’ Benefits: Veterans and other eligible persons planning to receive educational assistance benefits from the Veterans’ Administration (VA) should get VA approval for training prior to enrollment. Veterans must submit copies of their Certificate of Eligibility and DD214 to the Registrar Department, which serves as the Certifying Office for the College. Study Abroad: Federal financial aid funds may be available for study abroad programs if a consortium agreement between the home and visiting school is approved in advance. Questions regarding consortium agreements should be directed to the Dean of Advisement. New Jersey State Financial Aid Tuition Aid Grant (TAG): New Jersey residents who attend college full time at a New Jersey institution may be eligible to receive a TAG grant of up to $6,406 per academic year. TAG grants are based on need. Garden State Scholars (GSS): Students demonstrating high academic achievement based upon their secondary school records and junior year SAT scores will be selected for GSS consideration by their high school administrators. To accept this award, students must enroll full time in a New Jersey institution. Each academic year, $500 is awarded without consideration of income. Garden State Urban Scholars Program: Students demonstrating the highest level of academic achievement based upon their secondary school records and junior year SAT scores will be selected for consideration by their high school administrators. To accept this award, students must enroll full time in a New Jersey institution. Each academic year, $1,000 is awarded without consideration of income. Garden State Bloustein Distinguished Scholars Program: Students demonstrating the highest level of academic achievement based upon their secondary school records and junior year SAT scores will be selected for consideration by their high school administrators. To accept this award, students must enroll full time in a New Jersey institution. Each academic year, $1,000 is awarded without consideration of income. Tuition Assistance Program (TAP): New York State residents who attend college full time at a New York institution may be eligible to receive a TAP grant of up to $5,000 per academic year. TAP awards are based on need. Submission of a TAP application (www.tapweb.org), and income verification (e.g. NYS tax returns) for student and parents are required. Regents Award for Children of Deceased or Disabled Veterans: This scholarship is awarded annually to New York State residents who can document their status to meet the criteria. Up to $450 is awarded each academic year without consideration of income. Aid for Part-Time Study (APTS): New York State residents enrolled at a college in New York with between three and 11 credits per term may be eligible to receive an APTS grant. Awards are based on need. New York State Tuition Assistance Program Good Academic Standing Requirements: A student is considered in “good standing,” meeting program pursuit standards, and making satisfactory academic progress to receive New York State Tuition Assistance Program grants, if the minimum requirements established are maintained. Pursuit of Program: Students must have and maintain a full-time enrollment status to receive a TAP award. “Full-time” is defined as 12 quarter credit hours per term (quarter). A student may register for up to 18 credit hours in a term (or up to 21 with special approval by the Advisement Department); however, enrollment in more than 12 credit hours does not entitle the student to a TAP award that is greater than the per-term award maximum for 12 quarter credit hours. A student must earn 24 quarter credit hours in an aid year, exclusive of College Skills courses, in order to receive a fourth TAP payment for the spring quarter. New York State regulations allow a “medical/health waiver” if a student is unable to engage in full-time study due to health or medical reasons. Granting of this waiver is extremely rare, is not routine, and its use is not encouraged. Questions? Email the Financial Aid office, financialaid@BerkeleyCollege.edu. |
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