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A number of ways exist for eligible students to finance the cost of graduate education. Perhaps the most important thing to keep in mind regarding financial aid is to file early. Forms are generally available by the middle of December for the following academic year. It is recommended that application forms for the following year be completed during the winter break, when one can devote full attention to them. It should be noted that federal law and regulations require that all students receiving financial assistance from Federal Title IV funds maintain satisfactory academic progress.
The following is an overview of the major aid programs administered by the university, New York State, and the federal government. Financial aid forms and general information on student loan and scholarship sources is available through the dental school’s Office of Student Affairs. However, more detailed information can be obtained by contacting:
To be considered for federal financial aid, students must complete the Free Application for Federal Student Aid (FAFSA). The Graduate Application Service Financial Aid Service (GAPSFAS) is not acceptable in lieu of the FAFSA. Most loans are awarded on the basis of financial need, which is defined as the difference between education cost and expected family contribution. Federal direct loans are those funds that come directly from the federal government. Students are eligible for a maximum of $18,500 in direct loans. Students can borrow up to $8,500 in subsidized loans, with the amount determined by individual need, and the remainder in unsubsidized direct loans, each year. The major difference between subsidized and unsubsidized direct loans is that the government pays interest on the subsidized loan or "subsidizes" it, until repayment begins, whereas the student is charged interest on the unsubsidized loan from the time it is disbursed until it is paid in full. The subsidized direct loan, but not the unsubsidized loan, is awarded on the basis of need. Current interest rates are at 8.25 percent, which is the cap.
Students may also apply for low-interest (5 percent) campus-based Perkins loans (up to $2,000) and health professional loans (up to $4,000), which are awarded on the basis of financial need. Ability to take out these loans also depends on how early the student applies, due to funding-source limits. Students may be eligible for the New York State Tuition Assistance Program (TAP), which grants up to $550 in aid per year.
After exhausting federal direct and campus- based loan sources, students may take out alternative loans, which are offered by private institutions. Eligibility for alternative loans varies from lender to lender. These loans may charge interest rates above the 8.25 percent charged for federal money received through the university.
Disadvantaged graduate-level students in the health professions with exceptional financial need may be eligible for up to $10,000 in loans. Eligibility is based on demonstrated financial need, and renewal is based on continued demonstration of need and satisfactory academic progress.
Minority students are eligible for the New York State Regents Scholarship, which is awarded on the basis of performance on the Dental Admissions Test. Awards are made for up to $10,000; renewal is based on maintaining good academic standing. Applications and additional information are available by contacting:
The Regents Healthcare Scholarship is available to dental and medical students. Priority is given to economically disadvantaged and minority students. Contact:
Bureau of HEOP-VATEA Scholarships 1076 Education Bldg. Annex Albany, NY 12234The School of Dental Medicine has several scholarship funds available, in the range of $500 to $1,000. These scholarships are generally awarded on the basis of need, academic achievement, and/or service. One of these, the Tucker Scholarship, is awarded to the top twenty-five students in each of the second, third, and fourth years based on GPA from the previous academic year. The Carl W. Lasher Scholarship is a similar scholarship, providing support to second-, third-, and fourth-year students based on the previous year’s academic performance. For more information, contact the Office of Student Affairs at:
The School of Dental Medicine Alumni Association and the University at Buffalo Women’s Dental Guild have generously contributed funds that are available to students as short-term emergency loans. Generally $100 to $300, these loans are designed to “tide students over” (for example, to help with bills or other needs while awaiting receipt of a student loan). For more information, contact the director of student services at (716) 829-2839.
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