FAFSA Code: 002837 | TAP Code: 1010
Understanding Aid
Financial aid is money that helps students and their families cover the cost of higher education. It can come from the government, your school or private organizations, and it may be awarded based on your family's financial situation, your academic achievements, a combination of these or other factors. Understanding financial aid is an important step in planning for college.
It starts with filing two important forms:
- Free Application for Federal Student Aid (FAFSA)
- Tuition Assistance Program (TAP) application (New York State residents)
You must complete the financial aid process each year.
Once you have completed your FAFSA, your Student Aid Index (SAI) is calculated through a formula established by federal law. The formula considers many variables including:
- Your income and assets (and your parents' if you are a dependent student)
- The number of people living in your household
- Your state of residence
Your cost of attendance minus your SAI equals your financial need. Your SAI does not vary from school to school regardless of the actual cost of the institution you are attending. However, your financial need will vary according to each school's cost of attendance.
When you have successfully submitted your FAFSA and TAP applications, the results will be calculated and sent to you and the schools you listed on the applications.
Once your initial eligibility is determined, UB will confirm your eligibility for each award based upon specific award criteria, including your enrollment level (full-time, half-time, etc.) and Satisfactory Academic Progess (SAP) status.
- New undergraduate students will receive a financial aid award letter after completing the application process. This letter outlines the aid you're eligible for based on program requirements.
- New graduate/professional students and continuing students will get an email with instructions to view your financial aid award online through the HUB Student Center.