FAFSA Code: 002837 | TAP Code: 1010
Paying for Your Education
Even with financial aid, many students and families find that there’s still a remaining balance to cover when it comes to college costs. This difference—often called the “gap”—can be filled in a variety of ways. Whether you’re planning to pay out of pocket, use a payment plan, or explore loan options, it’s important to understand the tools available to help you manage your college expenses. This page outlines practical ways to cover that gap and keep your education on track.
Comparing Offers
Some colleges may advertise generous scholarships, but those offers can be tied to much higher tuition costs. It’s important to look beyond the headline numbers and compare the full picture—tuition, fees, housing and the actual out-of-pocket cost after aid. A smaller scholarship at a school with lower overall costs might offer better value in the long run. Take time to review each financial aid offer carefully to understand what your family will really be expected to pay.
The University at Buffalo is committed to transparency regarding college costs. Providing a realistic outlook allows our students to budget appropriately, manage debt and graduate with confidence.
Filling the Gap
Even with financial aid, you may still have a remaining balance to cover. At UB, there are several options to help bridge that gap:
- Pay in Full: You can pay your balance each semester using cash, check, money order or major credit card. Payments can be made online through your HUB Student Center. Visit the UB Student Accounts website for details.
- Installment Plan: UB offers a payment plan that allows you to spread your costs out over several months. This can make budgeting easier and reduce the need for borrowing. Learn more about the UB Payment Plan.
- Federal Parent PLUS Loan: Parents of dependent undergraduate students can apply for a Federal Direct PLUS Loan to help cover educational expenses.
- Private Loans: Students may also consider private educational loans through banks or credit unions. These loans vary by lender, so it’s important to compare terms and interest rates.
Paying the College Bill
Financial aid offer letters are calculated for an entire academic year; however, student bills are generated by semester. Approved financial aid for the semester should appear as a credit on the bill.
After all financial aid has credited to the account; other options may be available to assist with a remaining balance:
- Payment plan (available for fall and spring semesters only)
- Federal Parent PLUS Loan
- Alternative/private loan
Help your student choose meal plans wisely and know the differences between Meal Plans, Dining Points, Campus Cash and FlexiBULL Bucks.
Financial Literacy
UB Student Life offers financial wellness coaching to help you make the most of your aid, create a realistic budget, and plan for expenses beyond tuition. These resources cover topics like saving strategies, credit basics, and long-term financial planning so you can feel confident about your financial future.
Financial Aid Limits
Know your lifetime limits for aid:
- Pell Grant: Up to six years
- Federal Loans: Annual and aggregate limits apply (see loan chart)
- TAP: Up to four years (or five for EOP students); tracked by point system
Financial Aid Maximum Limits
Your financial aid award package at UB will take into consideration any federal and New York State aid that you have already received at other schools. It is important to know the maximum amount of aid you are eligible to receive over your lifetime. If you are unsure of your current financial aid status, make an appointment to speak to an advisor to review your financial aid history.
Federal Pell Grant: The amount of Federal Pell Grant funds you may receive over your lifetime is limited by federal law to be the equivalent of six years of Pell Grant funding.
Direct Subsidized & Unsubsidized Loans: The following chart shows the annual and aggregate limits for subsidized and unsubsidized loans. You can track your federal loan activity through the National Student Loan Data System (NSLDS).
| Year | Dependent Students (except students whose parents are unable to obtain PLUS Loans) | Independent Students (and dependent undergraduate students whose parents are unable to obtain PLUS Loans) |
|---|---|---|
| First-Year Undergraudate Annual Loan Limit | $5,500: No more than $3,500 of this amount may be in subsidized loans | $9,500: No more than $3,500 of this amount may be in subsidized loans |
| Second-Year Undergraduate Annual Loan Limit | $6,500: No more than $4,500 of this amount may be in subsidized loans | $10,500: No more than $4,500 of this amount may be in subsidized loans |
| Third-Year and Beyond Undergraduate Annual Loan Limit | $7,500: No more than $5,500 of this amount may be in subsidized loans | $12,500: No more than $5,500 of this amount may be in subsidized loans |
| Graduate of Professional Students Annual Loan Limit | Not Applicable (all graduate and professional students are considered independent) | $20,500 (unsubsidized only) |
| Subsidized and Unsubsidized Aggregate Loan Limit | $31,000: No more than $23,000 of this amount may be in subsidized loans | $57,500 for undergraduates: No more than $23,000 of this amount may be in subsidized loans. $138,500 for graduate of professional students: No more than $65,500 of this amount may be in subsidized loans. The graduate aggregate limit includes all federal loans received for undergraduate study |
New York State TAP Grant: The NYS Higher Education Services Corporation maintains records of student TAP awards by assigning points for each payment. A full semester TAP award equals six (6) payment points; a trimester or quarter award equals four (4) payment points; and a half-time award equals three (3) payment points. Part-Time TAP and Part-Time VTA points will reflect prorated points based on the certified number of credits a student is enrolled in.
As provided in Education Law, an undergraduate student has a total of four years (or a total of 48 points) of award eligibility or five years (or 60 points) if enrolled in an approved five-year program (EOP).
Visit the HESC website to check your TAP status and payment history.