UB Undergraduate Admissions: Costs and Financial Aid

Other ways to finance your education include applying for grants, loans, or finding a job through a college work-study program or on your own:

Eligibility: enrolled, taking at least 6 credits, U.S. citizen or eligible noncitizen, good academic standing, based on financial need. Amount: Variable awards, interest rate 5 percent, aggregate maximum $15,000.
Repayment: begins six months after ceasing to be at least a half-time student; possible 10-year repayment period.
How to Apply: file FAFSA (online at http://www.fafsa.ed.gov/)by March 1; applications available at any financial aid office or high school guidance office.

Low-interest loan available directly through the university.

Eligibility: At least 6 credits, enrolled or non-enrolled with special approval, good academic standing, demonstrate financial need, U.S. citizen or eligible noncitizen.
Amount maximum: Year 1 undergraduate: $2,625 (freshman), Year 2 undergraduate: $3,500 (sophomore), Years 3-5 undergraduate: $5,500 (junior/senior), Graduate/Professional: $8,500 Variable. Interest rate capped at 8.25%. While in school, government pays interest
Repayment: begins six months after ceasing to be at least a half-time student; possible 30-year repayment period.
How to apply: file FAFSA (online at http://www.fafsa.ed.gov/) by March 1; applications available at any financial aid office or high school guidance office. Award notice and promissory note will be mailed to you.

Eligibility: At least 6 credits, enrolled or non-enrolled with special approval, good academic standing, demonstrate financial need, U.S. citizen or eligible noncitizen.
Amount maximum for dependent students: Year 1 undergraduate: $2,625 (freshman), Year 2 undergraduate: 3,500 (sophomore), Years 3-5 undergraduate: $5,500 (junior/senior)
Amount maximum for independent students: Year 1 undergraduate: $6,625 (freshman), Year 2 undergraduate: $7,500 (sophomore), Years 3-5 undergraduate: $10,500 (junior/senior), Graduate/Prof: $18,500
Borrower responsible for interest from date of disbursement. Variable, interest rate capped at 8.25%.
Repayment: begins six months after ceasing to be at least a half-time student. Possible 30-year repayment period.
How to Apply: file FAFSA (online at http://www.fafsa.ed.gov/) by March 1; applications available at any financial aid office or high school guidance office. Award notice and promissory note will be mailed to you.

Loan Servicer for Federal Direct Student Loan recipients: 1-800-848-0979

Loan program to assist dependent undergraduate students by allowing their parents to borrow for their educational expenses.

Eligibility: Parent or guardian of dependent, at least 6 credits matriculated, U.S. citizen or equivalent, good academic standing, credit check.
Amount Maximum: Up to cost of education, less other expected financial aid, no aggregate limit, variable. Interest rate capped at 9%.
Repayment: Monthly payments beginning with total disbursement of loan, 10-to 30-year plan.
How to Apply: File FAFSA (online at http://www.fafsa.ed.gov/) by March 1. Applications available at any financial aid office or high school guidance office. Award notice and promissory note will be mailed to you.