You should read and retain all loan documents you receive.

6. To remain eligible for subsequent student loan disbursements, you must maintain Satisfactory Academic Progress as described in this handbook.

7. If you withdraw you may be entitled to a tuition refund, and part or all of that refund may need to be returned to the US Department of Education, as described in this handbook.

8. It is your responsibility to inform your lender of any change in your school attendance status, address, name, or phone number.

9. Before you borrow any loan, you should seriously and honestly consider your future ability to repay. 10. There are alternative repayment options available to you, such as prepayment without penalty,

graduated payments, loan consolidation, deferments when you are in school, postponement (called “forbearance”) when you are unable to pay because of financial hardship, etc. You must request these from the loan holder.

11. There are student loan deferments available while serving in the Peace Corps, under Domestic Volunteer Service Act, or as a volunteer for a tax-exempt organization with demonstrated effectiveness in the field of community service. Other deferments are also available.

12. You must repay your loan even if you do not complete your education, if you are not satisfied with your education, or if you cannot find employment in your field.

13. If you fail to apply for deferment or forbearance (or you apply but are not eligible) and you do not repay this student loan it will go into default status, the consequences of which are described below. Consequences of Student Loan Default

1. You can be sued for the entire amount of your loan.

2. Your credit rating can be severely damaged, making it difficult to borrow money for a car or home, or to receive credit cards. The default status can remain on your credit report for several years after you pay the loan in full.

3. Your federal Treasury payments (including federal tax refunds) and state income tax refunds may be withheld.

32 5. You won't be eligible to receive any more federal financial aid (and possibly state aid) unless you

make acceptable arrangements to repay what you already owe.

6. You may be ineligible for assistance under most federal benefit programs. 7. You will be ineligible or deferments or forbearance.

8. You will be liable for the costs associated with collecting your loan, including court costs and attorney fees.

9. You may not be able to renew a professional license you hold or may jeopardize your chances for certain types of employment.

10. Your loan may be assigned to a professional collection agency. 2) New York State Financial Aid

The following is a list of New York state programs for which students enrolled at FLHCON may qualify. Unless indicated, students apply by submitting a FAFSA (or renewal FAFSA) and a New York State Electronic TAP Application. Generally, after all eligibility requirements have been met, funds are credited (one payment per term) to the student’s account. Additional information and criteria specific to each program are listed here.

Eligibility Requirements:

To be eligible for NYS financial aid, you must be a New York State resident for 12 consecutive months before the term for which assistance is sought and attend an eligible school or college located in New York State. You must file a Free Application for Federal Student Aid (FAFSA), New York State Electronic TAP Application and list a New York State school or college on the form. Additionally, you must:

 Be a United States citizen or eligible non-citizen

 Be a legal resident of New York State

 Have graduated from high school in the United States, earned a GED, or passed a federally approved "Ability to Benefit" test as defined by the Commissioner of the State Education Department

 Have at least a cumulative "C" average after receipt of two annual payments

 Not be in default on a student loan guaranteed by HESC or on any repayment of state awards

 Meet income eligibility limitations

 Be meeting New York State “Satisfactory Academic Progress and Pursuit of Program” standards New York State Tuition Assistance Program (TAP):

This entitlement program is based on New York state net taxable income for New York state residents and tuition liability. To be eligible, student must be attending college full-time (12+ credits per

semester) in New York State.

Maximum Annual Award: Depending on the academic year in which you begin study, an annual TAP award can be up to $5,000.

New York State Aid for Part-Time Study (APTS):

This grant program is for New York state residents enrolled for 3-11 credits per semester, with awards based on New York state net taxable income.

33 Application: In addition to the FAFSA and New York State Electronic TAP Application, submit an Aid for Part-Time Study Application. Contact the financial aid office for an application.

Maximum Annual Award: Varies; limited funding available. Part-Time TAP

This grant program is for students who were first-time freshman after June 2007 that are taking 6-11 credits in the current semester. Students must have successfully completed 12 credits per semester in the previous two and maintained a “C” average.

Maximum Annual Award: Varies

Additional Programs Available Through New York State Vietnam Veteran

Flight 587 Memorial Scholarship Flight 3407 Memorial Scholarship NYS Leaders of Tomorrow Scholarships World Trade Center Memorial Scholarship War on Terrorism