Financial Aid
Although Five Towns College is a modestly priced private institution, we recognize that college tuition may be expensive for some students. Five Towns College provides a full service Financial Aid Office to help students and their families. Approximately 68% of all FTC students receive some financial assistance. The Financial Aid Office administers several million dollars of student aid monies every year. FTC students are eligible to participate in all Title IV Student Financial Assistance programs, including Pell, FSEOG, FCWS, and the Direct Student Loan Program. New York State residents may also participate in the Tuition Assistance Program (TAP). Five Towns College also administers more than one million ($1,000,000) in private grants and scholarships to deserving students each year. For applications and the specific requirements for each financial aid program, students should contact the Five Towns College Financial Aid Office at (631) 424-7000 ext. 2164 as early as possible or send an email stating their specific request(s) to financialaid@ftc.edu.
Five Towns College has partnered with the College Board to offer a Net Price Calculator—a tool that will help you determine just how affordable FTC may be for your family. The calculator will present you a sample of the type of award you may receive once you are admitted and have applied for financial aid. Approximately 68% of all FTC students receive some form of financial assistance. Click on the link and follow the instructions to see some of the possibilities for you!
Click here for the Net Price Calculator
STEPS FOR FINANCIAL AID:
*In order to receive your Financial Aid Award Letter in a timely fashion we recommend you file the FAFSA by March 31st or as soon as possible.
1. Apply for a PIN (Personal Identification Number).
● Student PIN
● Parent PIN (For parents of dependent student).
2. File for FAFSA
● Federal School Code: 012561
3. File for NYS TAP:
New York State H.E.S.C. Code:
Undergraduate 2075
Graduate 5810
● Send any requests and/or award letter(s) you have received from NYS HESC.
4. Complete the Five Towns College Verification Statement:
● Five Towns College UG Verification Statement
5. SIGNED COPY of 2010 TAX RETURNS.
● Student (& spouse)Federal & New York State.
● Parent(s) Federal (parent of dependent students only)& New York State.
6. If applicable: Send a copy of 2010 award letter(s) for any non-taxable income for all permanent family members(TANF, Social Security, Free Reduced Lunch, WIC,etc).
7. Send a copy of student's driver's license and Social Security card.
*The Financial Aid Office may require additional information.
FINANCIAL AID DATA
(Based upon Fall 2008 Semester Enrollment Data)
1. Enrolled Undergraduate Students
Number Percentage
●Total Number of FT and PT Students ............. 1,117 .................... 100%
2. Students Receiving Grant or Scholarship Aid from the Federal Government, a State or Local Government, Five Towns College, and Other Sources Know by the College
Number Percentage of All
Enrolled Students
● Students Receiving Grant or ............................ 845 ....................... 76%
Scholarship Aid
3. Students Receiving Pell Grants
Number Percentage of All
Enrolled Students
● Students Receiving Pell Grants ........................ 353 ....................... 32%
4. First -Time, Full-Time, Degree-Seeking Students Receiving any Federal Work Study Loans to Students, or Grant or Scholarship Aid from Federal, State or Local Governments, Five Towns College, or Other Sources Known to the College
Number Percentage of
First-Time Students
Grants or Scholarships from ............................ 261 ....................... 85%
Federal, State, or Local
Governments or Five Towns College
Federal Grants ................................................ 109 ....................... 37%
Pell Grants ...................................................... 109 ....................... 37%
Other Federal Grants ...................................... 104 ....................... 35%
State/Local Government Grants ........................179 ........................60%
or Scholarships
Five Towns College Grants .............................. 176 ........................59%
Loans to Students .............................................196 ........................66%
Federal Loans ...................................................193 ........................65%
Other Loans .......................................................32 .........................32%
STUDENT FEDERAL LOAN & STUDENT FEDERAL LOAN DEFAULT INFORMATION
Introduction
Most students enrolled at American colleges and universities take out loans to help cover the costs of their tuition, fees, books, room and board, and other costs of higher education. Many of the parents and guardians of these enrolled students also must incur loan obligations to help their children pay for the costs of going to college. While a substantial portion of student loans come from the federal government, other loans come from state governments and private lenders.
Because the federal loan default rate, or the percentage of graduates in a particular year who cannot make repayments on their loans, has ballooned at a number of colleges to more than 30%, the U.S. Department of Education is requiring colleges to report their loan default rates on their websites. Some of this information is already being reported to the U.S. Department of Labor and available on the main website for the National Center for Educational Statistics, http://nces.ed.gov/ipeds/datacenter/
Two sets of federal student loan information are reported below. The first set concerns the total amount of federal loan obligations incurred by the students graduating in May of 2011 at the time of their graduation. The median federal student loan obligation is reported as well as a breakdown of the total federal loan obligation by amount category.
The second set of loan information reports the federal loan default rate of students who graduated in 2006, 2007, and 2008. In addition to the student default loan rate for each year, the table indicates the number of students who are in default of their loan repayments and the number of students making repayments on their federal loans.
Total Student Federal Loan Obligations at Graduation, Class of 2011
- Median Total Student Federal Loan Obligation at Graduation…………………....$26,616
Total Student Federal Loan |
% of Graduating |
Obligations At Graduation |
Students |
$0 |
23% |
$1 - $9,999 |
10% |
$10,000 - $19,999 |
11% |
$20,000 - $29,999 |
38% |
$30,000+ |
19% |
Total = |
100% |
2006 – 2008 Loan Default Rates
Fiscal Year |
2008 |
2007 |
2006 |
Default rate |
7.5% |
7.4% |
5.3% |
Number in default |
25 |
25 |
16 |
Number in repayment |
333 |
334 |
300 |