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Financial Literacy

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File your 2014-2015 FAFSA now!

Be prepared for the 2014-2015 academic year by filing your FAFSA early.  Some financial aid programs have limited funds, so file by April 1st, 2014 to be considered for all programs.  If you need assistance filing your FAFSA go to apply.

 

Summer 2014 Financial Aid

Summer sessions at Herkimer County Community College start May 19, 2014, and end August 14, 2014. A variety of online and on campus classes are offered with different start and end dates. See our registration page for class offerings.

Financial Aid for the summer session is only available for eligible, matriculated students in good academic standing. Herkimer College does not matriculate new students for the summer term. To be matriculated the student must be pursuing a degree from Herkimer College. Eligibility for summer aid is explained below. Federal financial aid includes Pell grants and loans and New York State offers the TAP program to qualifying students. Students must complete a 2014 Summer Financial Aid Application to be eligible for summer financial aid.

The student must have completely processed 2013-2014 form in our Financial Aid Office by June 30, 2014 to be eligible for any federal financial aid for the summer session.  A 2014-2015 form must also be completed to receive TAP eligibility.

Federal Aid

Pell

Herkimer College disburses summer federal aid to students who have not used all of their eligibility during the 2013-2014 academic year.  Students who were Pell eligible and were part time or attended college only one of the academic semesters, may be eligible for a summer Pell Grant.

Loans

A first year dependent student (one who has accrued less than 30 credit hours) is eligible for a maximum loan amount of $3500 for the 2013-2014 academic year. A second year dependent student (one who has accrued 30 or more credit hours) is eligible for a maximum loan amount of $4500 for the 2013-2014 academic year. Students taking at least 6 credit hours, who have not exhausted their total loan eligibility, may borrow a loan to pay for the summer session as long as all financial aid (loans, grants, scholarships) does not exceed the summer cost of attendance.

Students wishing to borrow a loan for the summer session may do so by completing the 2014 Summer Financial Aid Application. These can be mailed, faxed or dropped off at the Financial Aid Office.

State Aid

New York State Higher Education Services Corp. (HESC) offers the TAP program for eligible students attending at least 6 credit hours and who have earned 12 credit hours in each of the 2 previous semesters at Herkimer College, assuming they meet the HESC income guidelines. Students must file the 2014-2015 FAFSA form to be considered for a summer 2014 TAP award. Eligibility will be based on student and/or parent (if applicable) 2013 New York State net taxable income.

Important Note:
Each full time semester of TAP eligibility earns 6 TAP points. Students may accumulate 36 points (equivalent of 6 full time semesters) at a 2 year college, but are only allowed a total of 48 points in their undergraduate career. Using TAP during the summer session for less than 12 credit hours (but must be at least 6) will earn 3 TAP points. This could potentially exhaust TAP eligibility for future terms once the maximum points are reached. 

 

Refunds and Attendance

Students may be due a refund if their financial aid exceeds their charges. These refunds will be released once the student is certified as eligible. A student will be eligible for their refund after the attendance in classes has been verified and he/she has completed the minimum credit hours required for their awards. Let’s assume a student is taking a Mini I class that runs from 5/19 – 6/5 and a VB class that runs from 7/7-8/14. The student would not receive a refund until his/her attendance was verified in the VB class.

 

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