Graduate School of Education

Financial Aid

Financial Aid Overview | Scholarships, Fellowships & Stipends | Federal Loans | Other Loan Options
Federal Work-Study Program | Tuition Assistance Plan (TAP) | Other Aid Sources | International Students

Overview

Louis Palefsky, Director
Adrienne King, Assistant Director
Kaisha Lopez, Financial Aid Counselor
Christopher Ballantine, Senior Office Assistant
Office phone: 212-875-4408
E-mail: finaid@bankstreet.edu


Overview
The Office of Financial Aid understands that graduate students are investing in their careers and their future goals. Our Financial Aid professionals provide applicants and students with information and counseling about how they can finance the next steps in their education. Financial aid awards may take the form of scholarships (not to be repaid), federal loans (not to be repaid), and/or federal work-study opportunities. Bank Street participates in the William D. Ford Direct Loan Program, which enables our students to borrow directly from the U.S. Department of Education rather than a lending institution such as a bank.

Eligibility for Financial Aid
All students, continuing and prospective, apply for financial aid by completing and filing the Free Application for Federal Student Aid (FAFSA) in order to be considered for all forms of financial aid (scholarships, loans, and/or work-study). Eligibility for most of our scholarships is based on need as determined by federal guidelines. If and when any non-need-based scholarships become available, applications are posted on the Bank Street Web site. A student must be admitted into a degree-granting program in order to receive any type of financial aid.

Timelines
All students, continuing and prospective, are encouraged to begin the financial aid application process early each year, preferably as soon as federal taxes are completed. To be considered for Bank Street College scholarships, the FAFSA must be completed and submitted to the federal processor by April 15 prior to the fiscal year (July through the following June) for which the student is seeking support.

New Graduate School candidates who missed the priority deadline should apply using the FAFSA as soon as possible to be considered for possible aid.

The financial aid application process must be repeated for each academic year. Both part-time and full-time students are eligible to apply for financial aid.

New Students
We urge prospective students who think they might seek financial aid to file the FAFSA early in their process of applying to a Graduate School program at Bank Street; applicants should follow the priority timeline given above, if possible. New students will be considered for financial aid once they have received formal admission to the College. Applicants who begin their application process after the priority timeline will be eligible for loans, and may be eligible for scholarships pending the availability of funds.

All financial aid materials and information are available in the Office of Financial Aid (Room 639), or may be found using links provided on this Web site. When applying for aid using the FAFSA form, you will be asked for the Title IV Code, which for Bank Street College is G02669.

Receiving Financial Aid
The Office of Financial Aid sends an Estimated Financial Aid Award Notice to eligible students who have been accepted into a graduate program, completed the FAFSA, and submitted all required documentation. An Award Notice indicates the combination of scholarship(s), subsidized/unsubsidized loans, and all other awards for which the student is eligible. In addition, a Disclosure Statement is sent to the student from the U.S. Department of Education Loan Origination Center, confirming the amounts of subsidized/unsubsidized loans requested by the student for the relevant fiscal year (e.g. Summer 2 2008 - Summer 1 2009).

Financial aid awards from scholarships and loans are applied first to institutional charges (tuition and fees). Any excess funds are refunded to students to meet other educational expenses.

Students may be asked to attend entrance or exit counseling at the discretion of the Office of Financial Aid. Students applying to receive aid in subsequent years must demonstrate continued financial need, good academic standing, and satisfactory progress toward their degree.

All students should remain in contact with the Office of Financial Aid in order to receive the most current information about financial aid awards.