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You must complete the Free Application for Federal Student Aid (FAFSA) every academic year. NOTE: The LIM priority deadline is April 15 each year for your FAFSA to be received by the Office of Student Financial Services. You can still apply for financial aid after this date, but some forms of financial aid may not be available. You should use this year's tax returns as a guide for completing the form. If that information is not yet available, you can use last year's taxes as an estimate in order to meet the priority deadline and then update your FAFSA with this year's information when it becomes available. The federal college code for LIM is 007466.
For New York State residents the FAFSA data will generate an Express TAP application (ETA). You can complete and electronically sign the TAP application online at www.tapweb.org; otherwise an ETA will be mailed to you by New York State Higher Education Services Corporation (NYSHESC). The college code for TAP is 2178.
You must also complete an LIM Financial Aid Application which, upon receipt of your FAFSA, will be mailed to you along with notification of any other required documents.
Prospective students can obtain the FAFSA from your high school, via the FAFSA website at www.fafsa.ed.gov, or by calling or stopping by the Office of Student Financial Services. Returning students who have previously filed a FAFSA can view, update, and submit a Renewal FAFSA via the web with their federal PIN number as of January 1 each year. Students and parents who do not have a PIN can apply for one at www.pin.ed.gov
If you file your application electronically at www.fafsa.ed.gov, you should receive a processed Student Aid Report (SAR) within 10 to 14 days. However, if you mail the FAFSA to the Federal Student Aid Programs office, it takes approximately 4 to 6 weeks for your application to be processed.
The LIM Supplemental Scholarship Application is available here and is also mailed to accepted students starting in March. The application deadline for new students is May 1. The award criteria for each scholarship are listed on the application. Students who apply will be notified in mid-July of whether or not they have been selected for a supplemental scholarship.
If you lost your TAP form you can request that a duplicate form be mailed to you by visiting New York State Higher Education Services Corporation's (NYSHESC) website at www.hesc.com or you can complete your TAP application online at www.tapweb.org. If you need assistance, please contact us
The Office of Student Financial Services will estimate your TAP eligibility based on the income information that you provide on the FAFSA. After your completed TAP application is received and processed by NYSHESC, they will send you a TAP Award Letter confirming the amount of your eligibility.
An award letter is mailed to you from the Office of Student Financial Services. The award letter will contain information regarding the types (grants, scholarships, loans, etc.) and amounts of financial aid you are eligible for.
No. If your award letter includes a Federal Direct Stafford and/or Federal Direct Plus Loan that you have accepted, the LIM Office of Student Financial Services will apply for the loan electronically and mail you a Master Promissory Note (MPN) to complete. This is done after you have signed and returned the Award Letter, the Direct Loan Request form(s), and the Borrower Rights & Responsibilities checklist (for students). For Parents who are borrowing a PLUS loan from a lender other than Direct Loans, you may be able to complete your loan promissory note electronically online. Check with your lender for further details.
If your aid exceeds the cost of tuition and fees (and housing, if applicable), you will receive a refund to use for other educationally related expenses. The Office of Student Financial Services will issue a refund within 7 to 10 business days when the appropriate funds have been disbursed to your account. Refunds issued as a result of a parent PLUS loan will be sent directly to the parent borrower.
No. International students are not eligible for federal or state aid. However, international students can apply for a private student loan and are eligible to be considered for LIM scholarship funds.
Probably not. To determine eligibility for federal aid, there are 7 questions (Questions 48 through 54) on the FAFSA which determine a student's dependency status. However, if you believe you have an exceptional reason for excluding parental information, you should call or come to the Office of Student Financial Services to discuss this further.
Dependency status questions for TAP are handled by NYSHESC directly. If you answer "No" to all of the dependency questions on the application, and are under 22 years of age, you will be contacted by NYSHESC for further information.
You can always call or come to the LIM Office of Student Financial Services for additional assistance. We have information on outside scholarships and other resources that may be helpful to you individually.
Payment in full for the fall semester is due by July 1. A $100 registration deposit is due by October 1 for the spring semester. Payment in full for the spring semester is due by November 1. All confirmed financial aid funds will be applied as anticipated payments towards tuition, fees, and housing (if applicable).
LIM offers a payment plan option using FACTS Tuition Management as the plan provider and servicer. This service allows you to make payments to your LIM account on a monthly basis. This is not a loan. There is a one-time fee of $45 to enroll in the program for the entire academic year.
Families can pay tuition by check, cash, FACTS payment plan or one-time payment, or wire transfer. Please contact the Office of Student Financial Services if you plan to wire transfer funds
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