Financial Aid

New York State and Other State Aid

The exterior of the Chrysler Building

Submitting the FAFSA is required and is the first step in applying for New York State's Tuition Assistance Program (TAP).  Awards for the 2012-2013 academic year range from $500 to $5,500 annually.

Students and parents who submit the FAFSA online will have the opportunity to complete the Express TAP Application (ETA) online as well.  The LIM College TAP code is 2178.  All others will be mailed an ETA to complete, sign and return to NYS Higher Education Services Corporation (HESC) for processing. Check the status of your ETA online at the HESC website and get info on other NY State-sponsored scholarships and grants.
 
For a listing of additional New York State sponsored scholarships and grants, visit the HESC Reference site.

Several other states sponsor awards that can be used to attend a college outside a home state, visit FinAid and click on the link for U.S. State Government aid to find your state agency.

 

Academic Criteria for NY State Awards

To receive New York State-sponsored grants a student must be in good academic standing.  For financial aid purposes, good academic standing consists of two components:

  • Pursuit of Program: a requirement that a student receive a passing or failing grade (A-F letter grade) in a certain percentage of courses each term, depending on the number of state awards the student has received.
  • Satisfactory Academic Progress: a requirement that students accumulate a specified number of credits and achieve a specified cumulative grade point average each term, depending on the number of state award payments students have received.  The following chart lists the minimum number of credits earned and cumulative GPA a student must achieve in order to remain in good academic standing:

     Semester Credits Earned Minimum 
     1 0 0
     2 6 1.60
     3 15 1.80
     4 27 1.85
     5 39 2.00
     6 54 2.00
     7 70 2.00
     8 84 2.00
  • New York State Education Law stipulates that no undergraduate student enrolled in a four-year degree program shall be eligible for more than four academic years (eight semesters) of state awards.
  • Loss of Good Academic Standing: Students who lose good academic standing in a term when they received a state grant are not eligible for an award for the next term.

Reinstatement of Good Academic Standing: Students who have lost good academic standing may restore this standing in one of the following ways:

  • Make up past academic deficiencies by completing one or more terms of study without receiving any state grants or scholarships.
  • Be readmitted to school after an absence of at least one year; or transfer to another institution.

One-Time TAP Waiver: New York State Commissioner of Education regulations permit students, at the discretion of the College, to receive a one-time waiver of the good
academic standing requirement as an undergraduate. Upon appeal to the TAP appeals committee, students with extreme and extenuating circumstances and a reasonable expectation of regaining good academic standing may be eligible for a one-time TAP waiver. Circumstances that will be considered include:

  • The death of a student’s immediate relative
  • The student’s extended personal illness or long-term injury


↑Back to Top