State & Federal Financial Aid

State Programs

Tuition Assistance Program (TAP)

Up to $5,000 per year for undergraduate full-time students who are New York State residents. TAP awards are based on net taxable income of the family, and are renewable for four years of baccalaureate study. Students in the Higher Education Opportunity Program or in approved five-year curricula may receive TAP awards for five years.

Aid for Part-Time Students (APTS)

Available to students carrying from 3 to 11 credit hours per semester and able to demonstrate need for assistance. To be eligible, individuals must be matriculated in degree programs.

Higher Education Opportunity Program (HEOP)

Available to educationally and economically disadvantaged residents of New York State. In addition to extensive financial assistance, students receive counseling, tutoring and assessment support throughout their Sage years. A five week summer program prior to the first year of enrollment is required of students who qualify. Eligibility is determined on the basis of academic background and family income.
While separate application procedures are required for state-sponsored aid programs, information and guidance can be secured from the Office of Student Financial Services.

Federal Programs

Pell Grants

Up to $3,750 per academic year, with prorated lower amounts for less than full-time enrollment status. These awards are completely need-based and available only to undergraduates for up to five years of study.

Supplemental Educational Opportunity Grants (SEOG)

Up to $4,000 annually for undergraduate study. These grants are available to students with high financial need.

Federal Work Study

Student employment funded by Sage and the government. The jobs are in a variety of areas, primarily on campus (examples are the libraries, campus centers, food services, offices and departments), are usually limited to 7-10 hours per week, and generally pay at the prevailing federal minimum wage or slightly above.

Perkins Loans

Administered by the college, these need-based loans up to $2,000 per year for undergraduate study. The interest rate is currently fixed at 5%.

Stafford Loans

Available through lenders such as banks, credit unions and savings and loans, these loans range in amounts from $2,625 to $5,500 annually based on the student's class level. Insurance and origination fees of approximately 3% are removed from the gross amount before disbursement. For students demonstrating financial need, the loan is subsidized, with interest paid for them during school enrollment. The loan is also available on an unsubsidized basis for those without need, but interest is paid during school enrollment. Graduate and self-supporting students are eligible to borrow more than the above amounts. The interest rate is variable, but cannot exceed 8.25%.

Plus Loans

Available to parents of dependent students, with the maximum amount available the cost of education less any financial aid received. These loans are not need-based and interest is paid from the time the loan is disbursed. The interest rate is variable, but will not exceed 9%.

Veterans Administration Benefits

Available to those with at least 180 days of continuous active duty between 1955 and 1976. The assistance is in the form of monthly stipends dependent on enrollment status. Details should be secured from the Office of Registration and Records on the Albany campus.