Financial Aid Application Process:
Current and Returning Students
You can file most financial aid applications online using the links below. Paper applications may be requested from the Office of Financial Aid
- Free Application for Federal Student Aid (FAFSA)
- Verification Process - Required from ALL Students Selected for Verification
- Direct Federal Student Loans
- Entrance Interview Process - Required by new borrowers Only
- Lender List
- The Office of Financial Aid receives numerous requests for information about student loan products from students and families each year. Students and families who wish to obtain student loans, must select the lender of their choice. This has been and continues to be the philosophy and practice of the Office of Financial Aid at Albany College of Pharmacy and Health Sciences. We strongly encourage all students and families to research financing options thoroughly and utilize those options that best fit within their financial situation.
- To aid our students, we have decided to compile a suggested lender list for the 2013-2013 year. In this endeavor we were guided by the NYS Student Lending Accountability, Transparency and Enforcement Act (SLATE).
- In order to compile the list, the Office of Financial Aid completed a Requests For Information (RFI) process. The financial aid staff compiled a RFI questionnaire for all interested lenders to complete. Seven lenders submitted RFI reports to our office by the deadline. All of the seven RFI reports were reviewed thoroughly by the financial aid staff. After review, the financial aid staff met to discuss the RFI documents and obtain any additional information necessary to answer all questions raised during the review process. As a result of this process, the financial aid staff determined that seven of the nine lenders met the criteria established in our RFI document. The seven lenders listed meet the following requirements (in no particular order):
- Have customer service hours that are flexible to meet student and families needs
- Offer both FFEL and private loan products to students and parents
- Have low student loan default rates in all categories: nationally, within NY and for ACPHS students
- Offer low interest rate structures for private student loans
- Have low back- and front-end fees charged to the borrowers in the private student loan products
- Offer a quick turnaround for credit decisions for students and parents
- Have high approval rates for credit-based student loans
- Agree to allow a student to view the RFI materials with the VP of Enrollment Management in the Office of Financial Aid, upon request from the student
Private Loan Lenders that met the above criteria for 2012-2013 (in alpha order):
We will continue to monitor the lenders on this list throughout the academic year. We will remove all lenders that do not meet our requirements as listed above. Please note that students and families are never required to borrow from a lender on our suggested list. Students and parents should always select the lender of their choice.
- Master Promissory Note (MPN)
- Exit Interview Process - Graduating and Former Students
- Consideration for Additional Aid Process
- 2012-2013 Financial Aid Wait List Request Form (Form will be available August 1-September 15)
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