Financial Aid Update

Application Process & Priority Filing Dates
SVA participates in all forms of federal financial aid and requires only one form - the 2009-10 Free Application for Federal Student Aid (FAFSA). The FAFSA should be filed as soon after January 1, 2009 as possible according to the following priority filing dates:

New Students for Fall 2009 Semester - February 1, 2009
New Students for Spring 2009 Semester - December 1, 2008

SVA's Title IV School Code is 007468 (step six of the FAFSA)
Applications submitted after these dates will still be considered for aid as funding remains available. Students may also complete the FAFSA on-line at http://www.fafsa.ed.gov/ (remember to electronically sign your application or print, sign and submit the certification page!).

New York State Residents may apply for the Tuition Assistance Program (TAP) grant program (an application will be mailed directly to the student from NYS Higher Education Services Corporation). The TAP School Code for SVA is 7858 (undergraduate) and 5858 (graduate).

Determination of Eligibility
Within two weeks of submitting the FAFSA, you will receive a Student Aid Report (SAR) from the federal processor. The SAR will report the information from your original application and the resultant Expected Family Contribution (EFC). EFC is a figure determined by the federal government based on your family's resources, and is the minimum amount you and your family are expected to contribute toward your education.

Your financial aid eligibility is based on your financial need. Financial need is calculated by subtracting your EFC from your estimated Cost of Attendance (which is also referred to as the Student Budget). The Student Budget, or Cost of Attendance, is comprised of the yearly cost for tuition and fees, as well as estimates for home maintenance/living expenses, personal expenses, transportation, and books and supplies.

Cost of Attendance - EFC = Financial Need