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As a student at University At Albany, you may be trying to find the best ways to pay for your college tuition, books, room & board, travel, food, lab fees and other college expenses. Paying for college doesn't have to be complicated, as long as you understand the financial aid process.
In order to qualify for federal, state and generally school specific financial aid, you need to complete your FAFSA (Federal Application for Student Aid) every January 1st at www.fafsa.ed.gov. University At Albany will send you an award letter every Spring detailing all of the financial aid you qualify for, which may include college scholarships and grants, work-study and federal student loans. If you have questions about your financial aid award package, you'll want to work directly with University At Albany's financial aid office.
You may receive college scholarships directly from your school, based on your academic history, financial need, athletic or school program participation. Not everyone will receive University At Albany scholarships. You may need to start your own scholarship search. Work with your school's financial aid office and the office of your specific major (i.e. English, Business) to identify any scholarships that you can apply for. Scholarships specific to University At Albany may have less applicants than regional or national scholarships you find on the web. You can also check with your job, community, church and organizations you participate in to see if scholarships are available. Once you have exhausted those options, you can start a scholarships search on the web.
After you exhaust all of your free money options, such as scholarships and grants, you may need to use student loans to pay for your remaining college costs. Your award letter from University At Albany will show how much you can borrow in federal student loans. The Federal Stafford Loan is the most widely used, low-cost borrowing option for college students.
Some students find that after using free money and federal student loans, they still do not have enough to cover all of their University At Albany costs. If this is the case, you may want to explore private student loans to pay for your school expenses. A private student loan is a credit-based loan made in the student's name, generally backed by a credit-worthy co-signer (like a parent or relative).
If you are in need of a private loan to pay for school, make sure you do your research before you apply. We’ve listed some resources to help you get started:
Introduction to Private Student Loans Alternative Student Loans Credit Info Apply for a Private Student Loan
Get more information on private student loans.
Use our calculators to add up your costs and financial aid for University At Albany.
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