Student Loans for Ithaca College Students
About Ithaca College Financial Aid
Ithaca College is a liberal arts college located in the South Hill region of Ithaca, New York. Founded in 1892 by William Egbert, the college was built to be a music conservatory. However, over the decades, the college has developed into an institute offering diverse academic programs for both undergraduate and graduate students. The college is also known for its communications programs offered at the Roy H. Park School of Communications, as Ithaca College is best known for their huge list of alumni who are in the world of broadcasting. The masters programs offered at this college are regarded as one of the best in the North region of the United States.
Ithaca College offers premium education, which unfortunately may mean substantial educational costs. However, students can find plenty of financial assistance and funding opportunities from the Ithaca College Financial Aid department. The financial need is determined by subtracting the Expected Family Contribution (EFC) from the Cost of Attendance (COA). COA consists of tuition, books/text material, housing, and living expenses. Notably, the EFC is the sum of money that can be contributed by the student and the parent(s).
Applying for Financial Aid
To apply for financial aid, you need to fill out the Free Application for Federal Student Aid (FAFSA) and submit it along with appropriate supporting financial documents. The information you provide on the FAFSA needs to be up-to-date and also needs to be submitted to determine if you are eligible for financial aid. The FAFSA is available at fafsa.ed.gov, so you can fill out and submit the application online or print out and mail a paper version to the Federal Student Aid Programs office.
Financial Aid Packages
The Ithaca Financial Aid department offers various financial aid options in their packages. These options include scholarships, grants, loans, and work-study programs. The scholarships and grants can be merit-based, and there is a ROTC scholarship for students who intend to join the army after graduating. Returning students can also apply for these scholarships. Another need-based funding option is the NY Resident Grants (TAP).
Most of the major federal loans are disbursed by the university: Federal Direct Stafford Loans, Federal Perkins Loans, Direct Parent PLUS Loans and Direct GradPLUS Loans. Students may also be eligible for federal work-study programs.
Private students loans are another option that you can apply for, but only consider this option if your financial aid package does not cover all of your costs and you have exhausted all other options. These private student loans should be used to cover any remaining costs, and only the necessary needed amount should be borrowed because you don’t want to incur unnecessary debt. If you are finding it hard to search for an optimal private loan plan, then you should make use of the Comparison Tool at our website. This tool will also help you compare different loan packages and their interest rates.
How is student need determined by the Ithaca financial aid office?
The Ithaca financial aid office adheres to federal guidelines and takes both the COA (Cost of Attendance) and the EFC (Estimated Family Contribution) under consideration. In order to determine financial need, the Estimated Family Contribution is subtracted from the Cost of Attendance to determine a remaining balance. COA essentially includes the expenditure of attending college while EFC is the sum of both students and parent’s contribution. Based on this formula, the student’s financial need is determined and aid is awarded accordingly.
Are there any merit-based scholarship awards available for new students at Ithaca College?
The Ithaca College financial aid office offers a number of merit-based scholarship awards for new students. The scholarship awards available are the Ithaca College Merit Scholarship, the Ithaca College National Merit Recognition Award, the Ithaca Leadership Award, the Ithaca Premier Talent Scholarship, the Martin Luther King Jr. Scholarship Award, the Park Scholar Award, and the Flora Brown awards.
Pay for Ithaca College*
|Total Avg. Cost||$48,819|
|Room & Board||$12,314|
|Financial Aid Information|
|Students Receiving Fin Aid||95%|
|Typical Grant Amounts|
|Avg. Other Stud. Loans||$6,237|
|%Receiving Other Loans||0%|
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*Data source is the Integrated Postsecondary Education Data System (IPEDS) the data collection program for the National Center for Education Statistics
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