Ability to Benefit
A requirement for Federal or State aid that applies to students admitted to the College who have not yet earned a high school diploma or GED (that is, students admitted under the Manhattan Discretionary or 24 college credit admissions option). If you are admitted to the College without a high school diploma or GED, you must take and pass a test of basic education approved by the US Department of Education before receiving any Federal or State financial aid. This test is adminstered through the College's Testing Office.

Academic Progress (for TAP purposes)
Meeting the New York State Academic Progress standard requires that you (1) accumulate at least 6 degree credits by the end of the second semester and between 12-15 credits each semester thereafter AND (2) attain a minimum grade point average (GPA) as specified by CUNY for each TAP payment requested. Click here to see the TAP Progress Chart. Federal financial aid programs require you meet a separate federal standard of satisfactory academic progress for continued receipt of federal financial aid.

Academic Year
A period of at least 30 weeks of instructional time during which you are expected to complete the equivalent of two semesters of full-time study. At BMCC, the academic year runs from the beginning of September to the end of May.

Award
An offer of financial assistance to help you meet the cost of a college education.

Award Letter
Notification sent to you from the Financial Aid Office if you asked for campus-based financial aid. Your award letter indicates your financial aid package and the basis for calculating your financial need.

Campus-Based Aid
Financial aid programs that are administered through the College. At BMCC, these include the FSEOG, FWS and Federal Perkins Loan programs, and the New York State funded CD and APTS programs.

Cost of Attendance
Tuition and fees applicable to you, together with CUNY's estimate of other expenses related to college attendance. Factors affecting your cost of attendance include whether or not you live with your parents and, if you are an independent student, whether or not you have dependent care expenses. CUNY's standard budget of college expenses for the most recent academic year can be found by clicking here.

Default
Failure to repay a student loan according to the terms of your repayment agreement.

Deferment
A specified time during which you do not have to make loan or interest payments. Click here for deferment conditions for all student loan programs.

Dependency Status
Your classification as either a dependent or independent student according to the specified requirements of the state or federal financial aid programs you are applying for. These classifications are based on the idea that students who may have access to parental support should not receive financial aid at the expense of students who don't.

Dependent Student
One who does not meet the criteria for classification as an independent student. If you fall into the dependent student category, you must report not only your income but that of your parents.

Disbursement
The process by which financial aid monies are paid to you, the recipient, by either check or direct deposit to your account. Funds are also considered disbursed when they are credited by the college's Bursar to pay tuition and fees.

Documentation
Proof of the accuracy of statements made on your financial aid applications. Documentation can include any of the following: signed copies, with appropriate schedules, of federal or state income tax returns; proof of citizenship status; social security benefit statements; proof of unemployment benefits; completed forms required by the Financial Aid Office and any other data needed to verify information submitted on your financial aid applications.

Enrollment Status
The classification you fall into based on the number of credits or equated credits for which you are registered and in attendance. At BMCC, you may have full-time (12 or more credits or equated credits) or part-time (fewer than 12 credits or equated credits) enrollment status. Part-time students can have an enrollment status of 3/4 time (9 to 11 credits or equated credits), half-time (6 to 8 credits or equated credits) or less than half-time (1 to 5 credits or equated credits).

Entrance & Exit Counseling
You must complete an entrance counseling session before the first disbursement of any federal loan funds and an exit session before leaving school. The sessions review your responsibilities as a borrower, repayment procedures and loan deferment and cancellation options. Entrance and exit counseling for Perkins and Direct Loans may be completed online. You may link here to either the Direct Loan entrance & exit sessions or the Perkins Loan entrance session.

Expected Family Contribution
The amount of money you and your family can reasonably be expected to use toward paying for a college education. The EFC is determined by a formula established by Congress. The Office of Financial Aid uses the EFC to calculate the amount of your Federal Pell Grant and establish your degree of financial need for other federal student aid programs (except for Federal Direct Unsubsidized or PLUS loans). If you are an independent student, you may be expected to use a portion of your (and your spouse's, if married) income, other benefits and assets to finance your education. If you are a dependent student, you may not only be expected to use a portion of your income, other benefits and assets to finance your education, but may also be expected to receive financial help from your parents. For more information on how the EFC is calculated, read the US Department of Education's detailed explanation of the EFC Formula.

Financial Aid Package
Awards from a combination of two or more financial aid programs (e.g., grants + work + loans = package).

Financial Need
The specific amount of money you need to attend college after the expected family contribution has been subtracted from the cost of attendance.

Forbearance
The temporary suspension or altering of a previously agreed upon loan repayment schedule due to unusual circumstances or financial hardship and granted at the discretion of the lender. The lender is required to provide three year maximum annual renewable forbearance if your loan debt burden equals or exceeds 20% of your gross income.

Free Application for Federal Student Aid (FAFSA)
Form used to apply for most types of federal financial aid, including PELL Grant, Direct Loans, and campus based aid. You must file a TAP-on-the-Web or a CUNY TAP/APTS Application along with a FAFSA to apply for New York State financial aid programs. You may file a FAFSA and a TAP application electronically at the US Dept. of Education's FAFSA on the Web site.

Full-time Student
To be considered a full-time student, you must be enrolled in at least 12 semester credits or equated credits toward your degree. (See the sections on TAP, APTS and PELL for additional information concerning enrollment status that are specific to these programs.)

Grant
Financial aid that does not have to be repaid. Grants can take the form of tuition assistance paid directly to the College on your behalf or a direct disbursement of money to you to help to cover other educational or living expenses. Grants can be awarded on the basis of financial need or academic merit.

Higher Education Services Corporation (HESC)
The agency responsible for administering New York State's educational grant, loan and scholarship programs to undergraduate and graduate students at institutions of post secondary education. The HESC website address is http://www.hesc.com/content.nsf/.

Independent Student
For federal financial aid, you are considered financially independent automatically if you are 24 years of age by December 31 of the award year, an orphan or a ward of the court, a veteran of the US Armed Forces, are a graduate or professional student, are married, or have legal dependents other than a spouse.

If you do not fall into one of these above categories, but meet certain conditions which can be documented, you may qualify to be independent for federal financial aid (discuss your situation with a financial aid counselor).

If you are 22 years of age or under as of June 30 of the award year, you must report parents' income in the TAP portion of your CUNY FAF unless you meet certain defined conditions established by New York State law that show you to be independent of your parents (refer to the application instruction booklet to see if you qualify).

If you are, or will be, 35 years of age as of June 30 of the award year, you are considered automatically independent for TAP purposes.

Loan
Money that you, the student, borrow and agree to pay back with interest by signing an agreement with the lender. Unlike personal loans, educational loans are generally easier to get and have special repayment and deferment options that make them attractive to the student borrower.

Part-time Student
If you are taking fewer than 12 credits or equated credits, you are considered a part-time student. You must have a part-time course load of at least 6 credits or equated credits to qualify for most financial aid programs, although students with fewer than 6 credits may qualify for Federal Pell Grants.

PIN (Personal Identification Number)
Allows you to access information about your financial aid history in various U.S. Dept. of Education systems. You may also complete and electronically sign the FAFSA, view the status and results of a processed FAFSA, and view your student loan history on the National Student Loan Data (NSLDS). You also can make certain corrections to your financial aid application and award history. If you wish, you can also have one of your parents obtain a PIN so that they may electronically sign your FAFSA when you apply over the web. Apply for or retrieve your Federal Student Aid PIN at: http://www.pin.ed.gov.

Placement
In the FWS program, the procedure by which you select, are interviewed for and placed on a job location.

Principal
The face value of a loan, or, the total amount that you borrow. Also, it's the amount on which the interest is charged.

Program Pursuit (for TAP purposes)
Demonstrating Program Pursuit means that you must receive completion grades in a minimum percentage of your coursework every semester TAP is received.

Scholarship
A financial aid grant based either on your scholastic achievement or financial need. BMCC has more scholarships than any other CUNY college. Visit the College's Scholarships page to learn what scholarship opportunities exist at BMCC and begin your own scholarships search.

Selective Service
If required by law, you must register with Selective Service before receiving any federal financial aid. You will be required to sign a statement indicating that you have registered with Selective Service or explaining why you are not required to register. The Selective Service registration requirement applies to males born on or after January 1, 1960, who are at least 18, are citizens or eligible non-citizens, and are not currently on active duty in the armed forces.

To get confirmation of your Selective Service registration, or to register on-line, click here.

If you failed to register before reaching age 26, or believe you were exempt from registering, you must obtain a Selective Service Status Confirmation letter and submit it to the Office of Financial Aid.

Self Help Aid
Financial aid you either must work for or pay back.

Waiver
Indicates that the College is excusing the student from a financial or academic requirement.

Work-Study
Financial aid you receive in the form of hourly wages from a job that you obtain through the Financial Aid Office. Work-study jobs try to give you practical experience in your field of interest or place you in community service work of some kind.