2023-24 Aid Sources
| Types of Grants and Scholarships (repayment not required) | Amount | Eligibility | Additional Award Criteria |
|---|---|---|---|
| Federal Pell Grant | $692–$6,895 (full time) | Undergraduate students with financial need | Award prorated if enrolled less than full time. |
| New York State TAP SUNY Tuition Credit |
$500–$5,665 Varies, based on TAP award |
Undergraduate students who are New York state residents attending college full-time | For families with New York state net taxable income below $80,000. Separate application required. |
| Excelsior Scholarship |
Up to tuition |
Undergraduate students who are New York state residents attending college full time | For families with New York state net taxable income $125,000 or below. Separate application required. Amount reduced by other grants/scholarships received. |
| Supplemental Educational Opportunity Grant (SEOG) | $500 | Pell-eligible with financial need | Students that filed a FAFSA by the recommended filing date are considered, based on availability of funding. |
| Educational Opportunity Program Grant (EOP) | up to $3,500 | NYS residents enrolled in EOP | Based on admissions to EOP and availability of funding. |
| University Scholarships | Variable | All admitted students; priority given to students with high academic achievement and need | Students that filed a FAFSA by Binghamton's recommended FAFSA filing date are considered, along with scholarship criteria (i.e., financial need, academic achievement, etc.). |
| Loan Types (repayment required) | Amount | Eligibility | Interest Rate/Origination Fees | Repayment |
|---|---|---|---|---|
| Federal Direct Subsidized Loan | Based on grade level | All admitted undergraduate students with financial need | 4.99% fixed rate; no interest accrues while in school. Origination fee: 1.057% | Begins six months after graduation or enrollment of less than 6 credits. |
| Federal Direct Unsubsidized Loan | Based on grade level | All admitted students | 4.99% fixed rate; interest accrues while in school. Origination fee: 1.057% | Begins six months after graduation or enrollment of less than 6 credits. |
| Federal Direct Parent PLUS Loan | Up to cost of attendance minus other aid sources | Parents/stepparents of eligible students | 7.54% fixed rate; interest accrues while in school. Origination fee: 4.228% | Choice of immediate repayment or six months after student graduates or enrollment of less than 6 credits. Separate application required |
| Alternative Loans | Up to cost of attendance minus other aid sources | Students with co-signer | Interest rate and fees variable, determined by lender and credit worthiness | Choice of immediate repayment or six months after student graduates or enrollment of less than 6 credits. Separate application required. |
| Part-Time Employment (income earned) | Amount | Eligibility | Type of Work |
|---|---|---|---|
| Federal Work Study (FWS) | Up to $2,000 a year | Financial need, and funding availability | On-campus: administrative and technical jobs; off-campus: community service related jobs. 8-10 hours per week; federally mandated hourly pay rate. |
| General Employment | Variable | All enrolled students, regardless of financial need | On- and off-campus in administrative, technical and food service jobs. Hours and pay rates vary. |
(updated February 2023)
