Catalog & Student Handbook 2007-2008

Financial Aid

Financial Aid Officer: John F. Gonyea

Rensselaer offers a range of programs and resources to help you effectively manage graduate educational expenses. While many companies offer their employees tuition reimbursement, the amount and timing of this benefit vary tremendously from company to company. Full tuition may not be covered, payment may be made to a student only after grades are issued, and taxes (on tuition above $5,250 for the year) also may be withheld. Whether you anticipate a cash flow problem or your needs go deeper than that, we have a program designed specifically for you. Please call John Gonyea in the Financial Aid Office at (860) 548-2406 or (800) 433-4723, ext. 2406 to request financial information and application materials, or visit our Web site at: http://www.ewp.rpi.edu/hartford/finaidhb for financial aid information.

Student Loans
The Federal Family Education Loan Program has certain basic eligibility criteria. For instance, you must be a U.S. citizen or permanent resident, degree-seeking, and must maintain half-time enrollment (six credit hours) each term of the loan period. Evidence of financial need is not necessary for a graduate student to borrow up to $20,500 each academic year (limited only by the actual cost of attendance). Demonstrated financial need, however, is necessary for up to $8,500 of this amount to be subsidized (i.e., accrue no interest while you are enrolled half-time).

For loans first disbursed on or after 7/1/06, the fixed interest rate will be 6.8%.

The U.S. Department of Education has set up an Office of the Ombudsman to work with student loan borrowers to informally resolve loan disputes and problems. To contact Ombudsman Debra Wiley's office, please use the toll-free number (877) 557-2575 or visit their Web site at: www.ombudsman.ed.gov. For instructions on how to return Federal Loan funds (for students who withdraw completely from this institution), please contact the Financial Aid Office.

Student Loan Deferments
In-school deferment requests should be submitted to the Financial Aid Office. Enrollment is certified on a term-by-term basis immediately following the posted add/drop deadline. Loan deferment usually requires certification of both half-time enrollment plus degree-seeking status. Perkins loans generally require that deferment forms be completed each term. Students considering deferment should be aware of the following definitions:

• Part-time status (i.e. less than half-time): one to five credit hours per term
• Half-time status: six to eleven credit hours per term
• Full-time status: twelve or more credit hours per term

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