Changes to financial aid
When the agencies that provide financial aid change the rules and regulations, we will post the information to this page, helping you stay updated on what might affect your financial aid.
Federal Direct Student Loan Interest Rates Updated - July 2015
For loans first disbursed on or after July 1, 2015 and prior to July 1, 2016, the fixed interest rates will be:
The interest rate was determined using the formula established in the Bipartisan Student Loan Certainty Act of 2013 and based on the Treasury Department's 10-year Treasury note index of 2.24%.
New York State announces two new programs - May 2015
SEQUESTRATION - October 2014
Because sequestration is still in effect, the direct loan origination fees are rising.
How this affects you: Direct loans with the first actual disbursement on or after December 1, 2013 will have increased origination fees. Stafford loan origination fees will rise from 1.072% to 1.073% and PLUS origination fees from 4.288% to 4.292%.
Direct Federal Loan Interest Rates Increase - July 2014
Using the formula established in the Bipartisan Student Loan Certainty Act of 2013 and based on the Treasury Department's 10-year Treasury note auction on May 7, 2014, interest rates will increase for all Direct loans.
How this affects you: Undergraduate subsidized and unsubsidized loans will increase to 4.66% interest; Parent PLUS loans will increase to 7.21%. This will affect loans first disbursed between July 1, 2014 and June 30, 2015 only.
- File your 2016-17 FAFSA now
- JCC federal school code: 002869
- JCC New York state TAP code: 2085