Metropolitan College of New York
financial aid at mcny

Your Responsibilities

What follows is important information about protecting and maintaining your financial aid:

  • re-file your FAFSA and report any changes. Again, we strongly urge you to complete this process online by visiting www.fafsa.ed.gov. You can do this as early as January 1st.
  • Under State and Federal regulations, there are two conditions necessary to maintain eligibility for financial aid: Pursuit of Program and Satisfactory Academic Progress:
    • Pursuit of Program: A student must complete a program within a given period of time and must accumulate credits at a specified rate. The rate varies depending on the degree program. Please see a financial aid counselor for more detailed information.
    • Satisfactory Academic Progress: MCNY (in compliance with Federal and State regulations) defines Satisfactory Academic Progress as movement from one academic level to the next within a prescribed time frame and maintenance of a minimum cumulative GPA.
  • All students receiving Financial Aid are required to completed Entrance and Exit Interviews.
    • Entrance Interview: Before receiving a student loan, borrowers must complete an entrance counseling session. The counseling session provides useful tips and tools to help the student develop a budget to manage educational expenses and to understand their loan responsibilities. Students can arrange to have their interview in person at the Financial Aid Office, or take it online by following the links below in English or Spanish:
    • Exit Interview: Prior to graduating or leaving college, borrowers are required to complete an exit counseling session. This exit interview is to make sure that students understand their rights and responsibilities as a loan borrower. If a student fails to complete all requirements of the final semester, the student must submit a new Application for Graduation along with a new Exit Interview completion date. Students can arrange to have their interview in person at the Financial Aid Office, or take it online by following these links in English or Spanish:
  • If for any reason you decide you are unable to continue at MCNY, you are required to officially withdraw from the College. This can help protect your financial aid for when you decide to return.

    Tuition Refund policy:

    If a student officially withdraws from the College during a semester, credit for that semester will be issued as follows:

    Notification date during
    First week . . . . . . . . . . . . . . 75%
    Second week . . . . . . . . . . . . 50%
    Third week . . . . . . . . . . . . . . 25%
    After the third week . . . . . . . .0%

    *All fees are non-refundable

    Students who cease attendance but do not officially withdraw will be liable for 100 percent of charges for the semester. To officially withdraw, students must contact the Office of the Registrar. The date of notification will be the official withdrawal date.

    Unpaid balances at the time of withdrawal, will be the responsibility of the student. Any overpayment of tuition will be refunded.

    Students who withdraw up to the tenth week from the College, may have their financial aid adjusted. The amount of aid for disbursement under federal and state programs will be recalculated in accordance with federal and state regulations. Refunds will be made in accordance with the federal refund allocation schedule.

    Credit Balance Policy

    Enrolled students with credit balances in their accounts will be issued refund checks. If the semester’s credits include College aid, the College will use the credit balance, up to the amount of that College aid, to pay outstanding balances from other semesters.

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  • Mailing Address MCNY Manhattan (431 Canal Street New York, NY 10013)
  • Phone Number  (800) 33 THINK | 212 343 1234