College Catalog
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial Aid

Financial aid is available to qualified students at Hudson Valley Community College. Financial aid is any grant, scholarship, loan, or employment opportunity with the express purpose of assisting students with education related expenses. Financial aid at Hudson Valley Community College is awarded on the basis of student need and the availability of funds.

Financial aid funding comes primarily from four sources: the federal government, state government, colleges and universities, and private organizations. Descriptions of the aid programs, eligibility requirements, application procedures, and award amounts are summarized on the following pages. Additional financial aid resources are available at www.studentaid.ed.gov and at www.hesc.ny.gov. Hudson Valley Community College scholarship information is available at www.hvcc.edu/scholarships.

Students who wish to be considered for financial aid programs administered by Hudson Valley Community College must complete a Free Application for Federal Student Aid (FAFSA) annually. The FAFSA may be completed online at www.fafsa.ed.gov. New York State residents who complete their FAFSA online will also have the opportunity to complete their Express TAP Application (ETA) online in the same session (to apply for a TAP award).

Application Processing
The Financial Aid Office makes every effort to process all applications in a timely manner. We have the authority, and may be required, to request additional documentation, which can cause delays in processing. The federal Central Processor randomly selects 30% of all applicants for a process called verification. The Financial Aid Office will notify all students via HVCC e-mail regarding all documents required to complete the verification process. This notification will occur within two weeks of the receipt of the application. Students should submit all requested documentation immediately so processing can be continued. Once all requested documents are received and processed, the student will receive award notification from the Financial Aid Office. This notification occurs within two weeks of final processing but no earlier than early June for the upcoming academic year.

Failure to submit required documentation prevents notification of approved awards. Only approved awards can be used as a credit towards payment of the student’s tuition bill. All required documents must be submitted two weeks prior to the student’s last day of attendance for the term in order to meet processing deadlines for federal aid programs. Failure to do so can result in the loss of awards for that term. In some cases, students may qualify for an extension to submit documentation. This extension does not allow for processing of federal student loans.

Degree Applicable Credit Hours
Students can only receive federal and state aid for courses that count toward their degree program. An error message will occur when a student schedules courses if a course is NOT degree-applicable. Students can view their scheduled courses on WIReD. Tuition bills will NOT reflect financial aid credits for courses that are not degree-applicable. Students should review their schedule and tuition bills very carefully for any discrepancies relating to courses and financial aid.

Financial Need
Financial aid from most of the major federal programs is based on financial need (except for unsubsidized Federal Direct Stafford and PLUS loans). When you apply for federal student aid, using the Free Application for Federal Student Aid (FAFSA), the information you provide is used in a formula established and approved by the U.S. Congress called Federal Methodology (FM). The formula calculates your Expected Family Contribution (EFC). This is the amount that you and your family will be expected to have available to contribute to your education. If your EFC is below an amount set by the federal government, you should be eligible for a Federal Pell Grant, assuming you meet all other eligibility requirements. Your EFC is also used in an equation to determine how much funding you may need to attend school. The Financial Aid Office subtracts your EFC from your cost of attendance.

Cost of Attendance - EFC = Estimated Financial Need to Attend School

You can get further information on the EFC formula by contacting the U.S. Department of Education at 1-800-4FEDAID, or from their Web site at www.studentaid.ed.gov.

Cost of Attendance (COA)
This is the amount that the Financial Aid Office estimates it will cost you to attend Hudson Valley Community College for one academic year. The COA is calculated based on rules established by the U.S. Congress. The COA includes tuition and fees, allowances for room and board, books and supplies, transportation, personal expenses and loan fees. A student’s total financial aid assistance (i.e. grants, scholarships, student loans, tuition assistance) cannot exceed their COA.

Students with unusual expenses may request an evaluation of their COA by submitting a letter to the Financial Aid Office detailing the circumstances, amount of expenses involved and providing documentation of the expenses. The COA determines a student’s estimated costs related to attendance at college. It is not intended to reflect full support requirements. Financial aid provides assistance for educational expenses, not full support. Students should be aware that requests for adjustments to the COA do not in any way indicate that there is financial aid available to cover such adjustments.

Federal financial aid at Hudson Valley Community College is awarded based on full-time enrollment and the estimated Cost of Attendance charts below. The Tuition and Fees component of Cost of Attendance will be reduced for any student enrolled in less than full-time financial aid hours during the fall, spring and summer semesters. Cost of attendance for students enrolled less than ½ time (5 credit hours or less) will not include allowances for room and board or personal expenses. Students may contact the Financial Aid Office after census date to have their tuition and fees reviewed based on a change in enrollment status.

Estimated Cost of Attendance
Full-Time Students
Fall 2013 and Spring 2014
Living Off-Campus

Expense Resident Non-Resident
Tuition & Fees $4,734 $12,694
Room & Board $5,925 $5,925
Books & Supplies $1,200 $1,200
Transportation $2,204 $2,204
Personal $1,000 $1,000
Loan Fees $48 $48
Total $15,111 $23,071

Estimated Cost of Attendance
Full-Time Students
Fall 2013 and Spring 2014
Living with Parent(s)

Expense Resident Non-Resident
Tuition & Fees $4,734 $12,694
Room & Board $2,400 $2,400
Books & Supplies $1,200 $1,200
Transportation $2,204 $5,086
Personal $1,000 $1,000
Loan Fees $48 $48
Total $11,586 $22,428

Code of Conduct
No officer, employee or agent of the college shall enter into a revenue-sharing arrangement with any lender. A "revenue-sharing arrangement" is any arrangement between the college and a lender under which the lender makes Title IV loans to students attending the college (or to the families of those students), the institution recommends the lender or the loan products of the lender and, in exchange, the lender pays a fee or provides other material benefits, including revenue or profit-sharing, to the institution or to its officers, employees, or agents.

No employee of the financial aid office shall receive gifts from a lender, guaranty agency or loan servicer. No officer or employee of the financial aid office (or an employee or agent who otherwise has responsibilities with respect to education loans) may solicit or accept any gift from a lender, guarantor, or servicer of educational loans. A "gift" is defined as any gratuity, favor, discount, entertainment, hospitality, loan, or other item having monetary value.

No officer or employee of the financial aid office (or employee or agent who otherwise has responsibilities with respect to education loans) may accept from a lender, or an affiliate of any lender, any fee, payment, or other financial benefit as compensation for any type of consulting arrangement or contract to provide services to or on behalf of a lender relating to education loans.

No officer, agent or employee of the college shall assign, through the award packaging or other methods, the borrower's loan to a particular lender nor shall it refuse to certify, or delay the certification, of any loan based on the borrower's selection of a particular lender or guaranty agency.

The college may not request or accept from any lender any offer of funds for private loans, including funds for an opportunity pool loan, to students in exchange for providing concessions or promises to the lender for a specific number of Title IV loans made, insured, or guaranteed, a specified loan volume, or a preferred lender arrangement. An "opportunity pool loan" is defined as a private education loan made by a lender to a student (or the student's family) that involves a payment by the institution to the lender for extending credit to the student.

The college may not request or accept from any lender any assistance with call center staffing or financial aid office staffing, except that a lender may provide professional development training, educational counseling materials (as long as the materials identify the lender that assisted in preparing the materials), or staffing services on a short-term, nonrecurring basis during emergencies or disasters.

No employee of the financial aid office (or employee who otherwise has responsibilities with respect to education loans or financial aid) who serves on an advisory board, commission, or group established by a lender or guarantor (or a group of lenders or guarantors) shall receive anything of value from the lender, guarantor, or group, except for reimbursement for reasonable expenses incurred by the employee serving on the board.