Financial Aid FAQ for Undergraduate Students
Who is eligible for financial aid?
Financial aid is available to all students who have been accepted and are enrolled in a matriculated program for a minimum of 6 credits, make satisfactory academic progress, and file a Free Application for Federal Student Aid (FAFSA). International students are not eligible for United States federal or state aid programs.
How do I apply for Financial Aid?
In order to receive federal or state aid, you must complete the FAFSA.
How do I sign my electronic FAFSA form?
You must sign your FAFSA using your FSA ID. If you do not have one, please create your FSA ID.
What is the FAFSA?
In addition to Pace University's private scholarships and grant awards, the U.S. Department of Education also provides financial assistance for students furthering their education beyond high school. Students and their families receive money from the U.S. government to fund their education by filling out the FAFSA (Free Application for Federal Student Aid). Based on factors such as household income, the results of the FAFSA help determine how much money a student may be granted or will be able to borrow for their college education.
What role does FAFSA play in determining my Financial Aid package?
The FAFSA will be used to determine your Expected Family Contribution (EFC). Once your EFC is determined, Pace will apply any institutional aid (incentive and need-based) and Federal and State Aid. EFC - Total Grants and Scholarships = Student's Actual Cost. Your Actual Cost is the amount that you will be expected to pay for your education through current income, loans and savings. This amount often exceeds your EFC, as it is assumed that as the primary beneficiaries, all students should be responsible for some portion of their educational costs. At Pace, we prepare financial aid packages that cover the complete cost of attendance by suggesting loans to cover the Student's Actual Cost. Students may choose to apply for these loans or decline them, in which case they agree to pay their costs through savings, or through our monthly payment program called Tuition Pay.
How many freshmen receive Financial Aid?
Last year, 96% of Pace first-year students received financial aid. More than $289 million in aid was received by students overall.
What types of Financial Aid are available to Pace undergraduate students?
Scholarships, grants, work-study funds, and loans make up Pace’s Financial Aid package.
What is the difference in the Cost of Attendance (COA) for resident and commuter students?
Because commuter students do not live on campus and do not pay for room and board, their total cost of attendance is often less than resident students’. Visit the Tuition & Fees website for a chart detailing the differences in cost of attendance for resident and commuter students.
Must I complete a FAFSA to receive Institutional funds?
Students are not required to file a FAFSA to be considered for Pace academic scholarship funds. However, in order to receive almost all other forms of aid, the FAFSA form must be completed. We highly recommend that this form be completed each year in the event you find yourself in need of federal funds during the academic period.
Is there a FAFSA filing deadline?
The priority submission deadline for the 2021-2022 FAFSA is November 15, 2020. Each year’s FAFSA form is available online for completion as early as October 1st.
What is the FAFSA Federal school code for Pace University? (Please only use one!)
- New York City Campus: 002791
- Pleasantville Campus: 002792
- White Plains Grad Center /Law School: 002727
How long after I complete the FAFSA will I receive a financial aid package?
In most instances, students are notified that their financial aid package is available on their MyPace Portal within 7-10 business days after the FAFSA form is received by Pace University, providing there are no processing issues with your application at the Department of Education Processing Center. Financial Aid packaging for new incoming Fall 2021 admits will begin in December 2020. Financial aid packaging for continuing students for the upcoming 2021-2022 academic year will begin in May 2021.
Does Pace award scholarships to Undergraduate Students?
Yes, most scholarships are reserved for students who show academic achievement and financial need. Merit Scholarship eligibility is reviewed by the Undergraduate Admissions Office at your time of acceptance to Pace University.
How can a student apply for a scholarship at Pace?
To apply for a scholarship at Pace, no additional steps must be taken – your application for admission to Pace automatically makes you eligible for Pace scholarships. There are, however, additional scholarships available for students through our Endowed Scholarships.
How can a student apply for an Endowed Scholarship at Pace?
These special scholarships are awarded to students who have specific academic interests, backgrounds, or career plans. Students must supply their information through the Endowed Scholarship database. Scholarship recipients are notified later if they have received an award. To view a full list of scholarships, please visit the Financial Aid - Scholarships and Grants website