Financial Planning Worksheet
Print and complete this worksheet to determine your net cost at SUNY Geneseo.
| Item | Amount |
|---|---|
|
Total Direct Charges: |
$ |
|
2. Subtract the total scholarships, grants and tuition credits you have been awarded. Total Scholarships and Grants: |
- $ |
|
3. Determine net cost (1 minus 2) Estimated Net Cost: |
= $ |
|
4. Subtract Federal Direct Student Loan(s). Only subtract if you have accepted these in the MyGeneseo campus portal. Total Federal Student Loans: |
- $ |
|
5. Determine remaining balance (3 minus 4) This estimated balance is for the full academic year. You will be billed separately for each semester. Total Remaining Balance: |
= $ |
Remaining Balance
If you still have a remaining balance to be covered, you may want to consider the following options:
Payment Plan
Geneseo’s Office of Student Accounts offers families the option of paying your semester bill in 4 monthly installments, interest free. For more information, visit the payment plan page (geneseo.edu/student_accounts/payment).
529 Plan
If using a 529 plan to pay for your college bill, you can have the funds sent directly to the college. Our federal school code (if needed) is 002845. Please be aware that it can take up to 2 weeks for the funds to be delivered.
Federal Direct Parent Loan (PLUS)*
A Federal PLUS loan may be used to assist with any shortfall between the cost of attendance and financial aid. The parent is the borrower of this credit worthy loan. Funds are borrowed directly from the U.S. Department of Education. Interest rates are set every July 1st for the next academic year and are based on the U.S. 10 year Treasury Note. There is a loan fee on all Federal Direct PLUS loans, which is deducted from each loan disbursement. The percentage varies based on when the loan is first disbursed. For more information or to apply for a Federal Direct PLUS Loan go to www.studentaid.gov. The parent (not the student) will need to sign in using their Federal Student Aid (FSA) ID. (This is the same ID used to sign the FAFSA electronically.) Once logged in, select "apply" for a Federal Parent (PLUS) Loan. If credit approved (you will be notified immediately), complete the loan agreement.
Private Student Loan*
As an alternative to the Federal PLUS Loan, you may want to consider a private loan. These student loans are offered by some banks and lending institutions and should only be considered if you need additional funds beyond the federal and state financial aid programs. Interest rates, terms and fees vary by bank so you will need to determine which loan is best for you. Usually students will need a credit worthy co-signer to be approved for a private student loan. To view a list of lenders previously used by SUNY Geneseo students, go to www.elmselect.com.
* Indirect costs such as books, personal and transportation expenses are included on your Financial Aid Award Notice but will NOT appear on your bill from SUNY Geneseo. These are typical costs associated with attending college. Your actual indirect costs will vary. They can be included when applying for a Federal PLUS or private loan. Should you decide to include these costs when borrowing, add them to your Total Remaining Balance in worksheet step 5.