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Financial Aid�2026-2027

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Topics

  1. Financial Aid Programs
  2. How and When to Apply
  3. Filing the FAFSA
  4. Helpful FAQs, Tips, & Resources

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What is Financial Aid?

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Federal Work Study

  • Eligibility determined through filing the FAFSA
  • Most jobs worked on campus & hours are based on student schedule
  • Students earn wages
      • Funds are not applied to a student’s billing account, paid in the form of a paycheck
    • Part-time jobs or UG Assistantships
    • Earn more than just a degree!
    • Valuable networking opportunities

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Gift Aid

  • Scholarships
      • Institutional/Outside

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    • Grants
      • Institutional
      • Federal Pell
      • Federal Supplemental Opportunity Grant (SEOG)
      • N.Y.S. Tuition Assistance Program (TAP)

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Scholarship Search Sites

Note: Links are provided as a general information resource. The links provided are maintained by their respective organizations and they are solely responsible for their content. Hofstra does not favor one link over the other, nor does Hofstra endorse or profit, in whole or in part, from any products or services offered or promoted by any of the websites whose links appear.

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Loans

  • Federal Education Loans 2025-2026 Rates:
      • Stafford Loans
        • Subsidized and Unsubsidized (6.39% interest rate, 1.057%% origination fee)
      • Parent Plus Loan
        • 8.94% interest rate, 4.228% origination fee
      • Alternative/Personal Student loans (variable rates and terms)
      • Home Equity Loan

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Please note 2026-2027 Loan rates will be available July 1, 2026

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Financial Aid Timeline

September – December of Senior Year in HS

  • Student and at least one parent apply for FSA ID: studentaid.gov/FSAID
  • File Free Application of Federal Student Aid (FAFSA)
      • Available as of October 2025: www.studentaid.gov
    • NYS Residents – File Tuition Assistance Program (TAP) application
      • Available as of October 2025: www.hesc.ny.gov
    • College Scholarship Service (CSS) Profile Application
      • Available as of October 1, 2025 (not required by Hofstra)
    • Apply for outside scholarships

2026-2027

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Financial Aid Timeline

January – March

  • Please file your FAFSA before February 1
  • Colleges/Universities begin to send out financial aid award packages
      • FAFSA filing deadlines and timing of award notifications will vary between schools
    • Complete Verification if required and other requested forms (proof of citizenship, HS diploma, etc.)

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April – May

    • Pay tuition/housing deposits and accept/decline financial aid by the National Candidate Reply Date of May 1
    • Complete loan applications and requirements after May 1

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FAFSA Tips

  • Not asking for help: Call 1-800-4-FEDAID, utilize the FAFSA online chat, or use the self-service buttons throughout the application
  • File the correct FAFSA for the correct aid year
  • Do not use nicknames-use the name as spelled on the Social Security Card
  • Use correct Social Security numbers and dates of birth
  • Do not list parent information under the student profile
  • Make sure student and parent signatures go through
  • If your address has changed, update your admissions application
  • Create FSA ID for student and one parent in the household early, as it can take a few days to verify

What are some common mistakes students and families make when completing the FAFSA?

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Who is eligible for Federal Aid?

  • U.S. Citizens and eligible non-citizens such as permanent residents, are eligible to file the FAFSA and receive Federal Aid.
  • Students must have a valid Social Security Number
      • If a parent does not have a SSN, enter zeroes on the FAFSA, or select the option that they do not have one
    • Deferred Action (DACA) students are not eligible to file a FAFSA and are not eligible for federal financial aid.

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Why File the FAFSA?

  • It’s free!
  • It determines eligibility for federal grants, loans and work study
  • Some states, including New York, require it as the first part of an application process for financial aid from that state.
  • Some colleges and private organizations require it for consideration of scholarships and grants

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What will you need to file the FAFSA?

Collect the documents for both student and parent(s):

  • All source of 2024 taxed and untaxed income such as income tax returns, W2 forms benefit statements etc.
    • The data exchange tool simplifies this process!
  • Asset information: recent bank statements investments, stocks, bonds, mutual funds, etc.
  • Social Security Numbers
  • Student’s Driver’s License (if applicable)
  • Alien Registration number (if applicable)

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FAFSA FAQs

Q. Can a student choose to report 2025 information?

  1. No; you must report the info for the year the FAFSA is asking. Remember there are certain items that are “as of today.”

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Q. What if my family’s financial situation has changed since 2024?

A. Speak to the colleges you are accepted to and add on your FAFSA. Each school may handle these situations differently, but most have a special form/process for this.

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Adding a Contributor

  • For dependent students, a parent would be considered a contributor. Dependent students are under 24 years of age.
  • The contributor will get a link to their FSA ID with an invite to complete their portion of the FAFSA application.

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Contributor Invitation

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Contributor Consent

  • Every Contributor must provide consent and approval for students to be eligible for federal aid programs.
  • Consent and approval will also allow the automatic process of the data exchange tool from the IRS to the FAFSA.
  • This is required for students to receive any federal aid eligibility.

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Who is a Parent Contributor?

  • Never Married: the parent who provided more financial support during the last 12 months. If equal amount of support provided, provide information for parent with greater income and assets.
  • Unmarried and both legal parents live together: Both legal parents
  • Married: Both parents
  • Remarried: Parent and Stepparent
  • Divorced or Separated: the parent who provided more financial support during the last 12 months. If equal amount of support provided, provide information for parent with greater income and assets.
  • Widowed: Surviving Parent

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Student & Parent Financials

Student’s and parents will need to input information based on the year 2024, please note they cannot be blank, if there is no value, a zero should be entered.

Parents will need to provide information for the following:

  • Federal Programs that you may have received benefits from (SSI, SNAP, WIC, Medicaid, etc)
  • Confirming Family Size from 2024 taxes
  • Number of family members in college (not including parents)

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Student/Parent Assets

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How are 529 plans reported on FAFSA?

  • 529 plans are reported under the “owner” as an investment, not the beneficiary. If the parent is the owner, it is reported under the parent investment question.
  • Only plans for designated student on the FAFSA need to be reported.

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Selecting Colleges

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Helpful Links for Financial Aid Resources:

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Note: Links are provided as a general information resource for the use of visitors to the web site. The links provided are maintained by their respective organizations and they are solely responsible for their content. Hofstra does not favor one link over the other, nor does Hofstra endorse or profit, in whole or in part, from any products or services offered or promoted by any of the web sites whose links appear.

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Questions?

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