Financial Aid

How Professional Pharmacy Students Apply for Aid

Welcome P1 students! Below, you’ll find everything you need to apply for financial aid through the federal and state governments, as well as aid offered by ACPHS. Our dedicated financial-aid specialists are here to support you and answer any questions along the way.

Complete the Free Application for Federal Student Aid (FAFSA)

Complete the Free Application for Federal Student Aid (FAFSA) on Studentaid.gov.

All applicants seeking federal financial aid must file the Free Application for Federal Student Aid. The FAFSA is usually available October 1 for aid sought in the following academic year. 

• ACPHS Federal School Code – 002885
• FAFSA Deadline is March 1. Applications received after March 1 will be processed after the deadline, but failure to adhere to the deadline could affect your eligibility for other aid.
• If you are completing the FAFSA and you will be classified as a graduate student based on the criteria below, please indicate your grade level as “Continuing Grad.” You will not need to include parental information as a graduate-level student.

Understanding Your Student Classification for Financial-Aid Purposes

• Students entering ACPHS into the first professional year (P1) of the Doctor of Pharmacy program receive graduate aid if they have a prior BA or BS degree.
• Students entering ACPHS into the first professional year (P1) who do not have a prior BA or BS and who are enrolled in the BSPK and the Doctor of Pharmacy (P1-P4) are eligible for undergraduate aid during years P1 and P2 and for graduate aid for P3 and P4.
• Students entering ACPHS in the BSPK program and progressing on the six-year track for the Doctor of Pharmacy receive undergraduate aid for P1 and P2 years and graduate aid for P3 and P4 years. 
• Please email the Office of Financial Aid at Financial_aid@acphs.edu if you have any questions about your status.

Financial Aid Options

Federal Aid

Federal aid consists of government-issued grants, direct federal student loans and work-study options. Federal student-loan programs offer low interest rates and, when used with discretion, provide an affordable option to meet the cost of a quality education.

Direct Federal Student Loans:

• Direct Loan Overview
• If you have borrowed federal student loans prior to attending ACPHS, your federal student loan history can be reviewed using the National Student Loan Data System.

Federal and Private Student Loan Options

Undergraduate / Junior Level (P1 & P2)

• Subsidized Loans
  • $5,500 (Dependent and Independent students)
• Unsubsidized Loans
  • $5,500 (Dependent and Independent students)
• Additional Loans
  • Dependent Students: $2,000
  • Independent Students: $7,000
• Other Loans
  • Undergraduate Parent Loans (PLUS Loans)
  • Undergraduate Private Loans

Undergraduate Private Loans (P3 & P4 years considered Graduate level)

• Private loans available up to $33,000

Graduate / Professional Level (P1 – P4 with prior BA or BS)

• Subsidized Loans
  • Not Available (N/A)
• Unsubsidized Loans
  • Up to $33,000 per year
• Additional Loans
  • Graduate / Private Loans

Federal Student Loan Aggregate Borrowing Limit

Dependent Undergraduate Students

• Subsidized Limit: $23,000
• Total Limit (Subsidized + Unsubsidized): $31,000

Independent Undergraduate Students

• Subsidized Limit: $23,000
• Total Limit (Subsidized + Unsubsidized): $57,500

Graduate / Professional Students

• Total Aggregate Limit: $224,000
  (Includes all federal loans from undergraduate and graduate education)

Note:

• Total limits include both Subsidized (need-based) and Unsubsidized loans.
• For more information, visit www.studentloans.gov.

State Aid

Enrolled students can apply for state aid.

• NYS Tuition Assistance Program

Institutional Aid

ACPHS offers institutional scholarships and grants based upon established criteria of merit and/or need as noted. All awards are based upon full-time enrollment each semester, unless otherwise indicated. The Office of Financial Aid will evaluate eligibility annually, based upon issuance of final grades for spring term.

• Institutional Merit-Based Aid – financial aid awarded based on prior academic performance.
• Institutional Need-Based Aid – financial aid awarded based on both prior academic performance and financial need. Need-based scholarships require the student to file the FAFSA each year.

All awards are subject to adjustment due to changes in enrollment status, or receipt of other federal, state or private funds. In addition, awards will be adjusted as part of required corrections or verification of data reported on the student’s FAFSA.

Awards will be renewed on a first-come, first-served basis until funds are expended. Awards may not be renewed to students who do not adhere to the FAFSA filing deadline of March 1. Awards will not be renewed to students with incomplete financial-aid paperwork after May 1.

For a detailed breakdown of institutional, federal and state aid, view Scholarships, Loans, and Grants.

Explore Additional Financing Options

Once you’ve completed the FAFSA, reviewed your aid options and explored tuition and fees, the next step is to consider additional ways to finance your education. Below is a list of possible supplemental financing options to help cover remaining costs:

• Federal Parent PLUS Loan
• Private student loans
• Sponsor loans
• Home equity loans
• Payment plans
• 529 savings plans
• Employer benefits
• Private scholarships