Understanding the Financial Aid Process
Financial aid is money that helps students pay for college. The financial aid process can be complex, but in general, the amount of aid you will receive is determined through the following steps.
Filling out the FAFSA (Free Application for Federal Student Aid)
1. Students and families fill out the FAFSA.
The FAFSA collects the information needed to determine your eligibility for federal financial aid programs, including Pell Grants, Supplemental Educational Opportunity Grants (SEOG), Federal Work-Study Program and Federal Direct Student Loans.
2. The FAFSA produces a figure called the Student Aid Index (SAI).
This was formerly called the Expected Family Contribution (EFC).
3. The SAI is subtracted from an institution's cost of attendance.
This determines what need-based aid you will receive.
After You Apply
Once your FAFSA is processed, you will receive the FAFSA Submission Summary (FSS), formerly known as the Student Aid Report (SAR). Your FSS will indicate your Student Aid Index for federal student aid programs as calculated by the federal processor. UB’s Financial Aid Office receives this information when you file, so it is not necessary to send us your FSS. Financial aid award notifications are mailed in the spring.
Information for NYS Residents
A separate application is required for the Tuition Assistance Program (TAP). You will initiate it when you complete the FAFSA. Once you reach the confirmation page, click on “New York Residents Only” to file for TAP. UB’s TAP code is 1010.
Get personalized answers to financial aid questions
There is much more to know about financing your college education. We offer one-on-one advising with our financial aid experts to help you complete the process with confidence.
Call 716-645-8232 to schedule an appointment.
