Frequently Asked Questions
You've got questions. We've got answers.
Check out our list of frequently asked questions below. There are common questions that pertain to both Undergraduate and Graduate students, however, there are also some important differences between Undergraduate and Graduate Financial Aid.
Click to download either our list of FAQ for Undergraduate or Graduate Students:
Undergraduate Student Financial Aid FAQ
Who is eligible for financial aid?
Financial aid is available to all students who have been accepted and are enrolled in a matriculated program for a minimum of 6 credits, make satisfactory academic progress, and file a . International students are not eligible for United States federal or state aid programs.
How do I apply for Financial Aid?
In order to receive federal or state aid, you must .
How do I sign my electronic FAFSA form?
You must sign your FAFSA using your FSA ID. If you do not have one, please .
What is the FAFSA?
In addition to Ìð¹ÏÊÓƵ's private scholarships and grant awards, the U.S. Department of Education also provides financial assistance for students furthering their education beyond high school. Students and their families receive money from the U.S. government to fund their education by filling out the . Based on factors such as household income, the results of the FAFSA help determine how much money a student may be granted or will be able to borrow for their college education.
What role does FAFSA play in determining my Financial Aid package?
The FAFSA will be used to determine your Expected Family Contribution (EFC). Once your EFC is determined, Pace will apply any institutional aid (incentive and need-based) and Federal and State Aid. EFC - Total Grants and Scholarships = Student's Actual Cost. Your Actual Cost is the amount that you will be expected to pay for your education through current income, loans and savings. This amount often exceeds your EFC, as it is assumed that as the primary beneficiaries, all students should be responsible for some portion of their educational costs. At Pace, we prepare financial aid packages that cover the complete cost of attendance by suggesting loans to cover the Student's Actual Cost. Students may choose to apply for these loans or decline them, in which case they agree to pay their costs through savings, or through our monthly payment program called Tuition Pay.
How many freshmen receive Financial Aid?
Last year, 96% of Pace first-year students received financial aid. More than $289 million in aid was received by students overall.
What types of Financial Aid are available to Pace undergraduate students?
Scholarships, grants, work-study funds, and loans make up Pace’s Financial Aid package.
What is the difference in the Cost of Attendance (COA) for resident and commuter students?
Because commuter students do not live on campus and do not pay for room and board, their total cost of attendance is often less than resident students’. Visit the Tuition & Fees website for a chart detailing the differences in cost of attendance for resident and commuter students.
Must I complete a FAFSA to receive Institutional funds?
Students are not required to file a FAFSA to be considered for Pace academic scholarship funds. However, in order to receive almost all other forms of aid, the FAFSA form must be completed. We highly recommend that this form be completed each year in the event you find yourself in need of federal funds during the academic period.
Is there a FAFSA filing deadline?
The priority submission deadline for the 2021-2022 FAFSA is November 15, 2020. Each year’s for completion as early as October 1st.
What is the FAFSA Federal school code for Ìð¹ÏÊÓƵ? (Please only use one!)
- New York City Campus: 002791
- Pleasantville Campus: 002792
- White Plains Grad Center /Law School: 002727
How long after I complete the FAFSA will I receive a financial aid package?
In most instances, students are notified that their financial aid package is available on their within 7-10 business days after the FAFSA form is received by Ìð¹ÏÊÓƵ, providing there are no processing issues with your application at the Department of Education Processing Center. Financial Aid packaging for new incoming Fall 2021 admits will begin in December 2020. Financial aid packaging for continuing students for the upcoming 2021-2022 academic year will begin in May 2021.
For more information, dates and deadlines please visit our New Student and Returning Student Checklists.
Does Pace award scholarships to Undergraduate Students?
Yes, most scholarships are reserved for students who show academic achievement and financial need. Merit Scholarship eligibility is reviewed by the Undergraduate Admissions Office at your time of acceptance to Ìð¹ÏÊÓƵ.
How can a student apply for a scholarship at Pace?
To apply for a scholarship at Pace, no additional steps must be taken – your application for admission to Pace automatically makes you eligible for Pace scholarships. There are, however, additional scholarships available for students through our Endowed Scholarships.
How can a student apply for an Endowed Scholarship at Pace?
These special scholarships are awarded to students who have specific academic interests, backgrounds, or career plans. Students must supply their information through the Endowed Scholarship database. Scholarship recipients are notified later if they have received an award. To view a full list of scholarships, please visit the Financial Aid - Scholarships and Grants website
Graduate Student Financial Aid FAQ
How do I apply for Financial Aid?
In order to receive federal aid, graduate students must complete a each year.
How do I sign my electronic FAFSA form?
You must sign your FAFSA using your FSA ID. If you do not have an FSA ID you can create one at the .
Am I required to report my parental/spousal information on the FAFSA?
Students pursuing graduate level degrees are automatically deemed independent by the Department of Education. Therefore, parental information is not required when completing your FAFSA. If you are married, however, you must include your spouse’s information on the form.
What is the FAFSA?
In addition to Ìð¹ÏÊÓƵ's private scholarship and grant awards, the U.S. Department of Education also provides financial assistance for students furthering their education beyond high school. Students and their families receive money from the U.S. government to fund their education by filing out the FAFSA (Free Application for Federal Student Aid). Based on factors such as parental income, the results of the FAFSA help determine how much money a student may be granted or will be able to borrow for their college education.
What role does the FAFSA play in determining my Financial Aid package?
The FAFSA will be used to determine your Expected Family Contribution (EFC). Once your EFC is determined, Pace will apply any institutional aid (incentive and need-based) and Federal and State Aid. EFC - Total Grants and Scholarships = Student's Actual Cost. Your Actual Cost is the amount that you will be expected to pay for your education through current income, loans and savings. This amount often exceeds your EFC, as it is assumed that as the primary beneficiaries, all students should be responsible for some portion of their educational costs. At Pace, we prepare financial aid packages that cover the complete cost of attendance by suggesting loans to cover the Student's Actual Cost. Students may choose to apply for these loans or decline them, in which case they agree to pay their costs through savings, or through our monthly payment program called Tuition Pay.
Must I complete a FAFSA to receive Institutional funds?
Students are not required to file a FAFSA to be considered for Pace academic scholarship funds. However, in order to receive almost all other forms of aid, the FAFSA form must be completed. We highly recommend that this form be completed each year in the event you find yourself in need of federal funds during the academic period.
Is there a FAFSA filing deadline for Graduate Students?
The FAFSA filing timeline for graduate students is quite relaxed. Each year’s form is available online for completion as early as October 1. If you wish to have financial aid funds applied to your semester charges we recommend that you complete the FAFSA form at least 4-6 weeks prior to the payment due date.
What is the FAFSA federal school code for Ìð¹ÏÊÓƵ?
- New York City Campus: 002791
- Pleasantville Campus: 002792
- White Plains Grad Center /Law School: 002727
How long after I complete the FAFSA will I receive a financial aid package?
In most instances financial aid packages are mailed to graduate students 2-4 weeks after the FAFSA form is received, providing there are no processing issues with your application and the Department of Education Processing Center.
How much Aid am I eligible to receive?
In addition to graduate scholarships, eligible students (U.S. citizens or eligible non-citizens, enrolled in at least 6 credits per semester, pursuing a degree, not in default on prior student loans) may receive up to $20,500 in the Federal Direct Unsubsidized Stafford loan. Graduate students may also apply for the Federal Graduate PLUS Loan. Graduate PLUS loans require that students be credit-approved. Eligible students may borrow up to the cost of attendance minus any other financial aid received.
Am I eligible for New York State Tuition Assistance Program Grant (TAP) as a Graduate student?
As of 2010-2011, New York State Higher Education Service Corp. terminated graduate-level TAP Grant funding.
How can a Graduate student apply for an Endowed Scholarship at Pace?
These special scholarships are awarded to students who have specific academic interests, backgrounds, or career plans. Students must supply their information through the Endowed Scholarship database. Scholarship recipients are notified later if they have received an award. To view a full list of scholarships, please visit the Financial Aid - Scholarships and Grants website.
How do I answer the enrollment question on the FAFSA?
Although graduate students enrolled in 9 credits per semester are considered by Admissions and health insurance providers to be full time students, different reporting is required for completing the FAFSA:
- 1-5 credits – less than half-time
- 6-8 credits – half time
- 9-11 credits – ¾ time
- 12 or more credits – full time