SUNY Cortland

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Contact Us
Miller Building, Room 205
Phone: (607) 753-4717
Fax: (607) 753-5990
E-mail: finaid@cortland.edu

Office Hours
8 a.m.-4:30 p.m.
Monday–Friday

Financial Advisement Office

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Welcome to the Financial Advisement Office at SUNY Cortland. It is our belief that a post-secondary education is one of the most important investments a student will make.

We provide a broad range of financial services, advice and education to our students and their families to ensure that all SUNY Cortland students have the opportunity to receive an affordable education.

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Important News: 

SUNY Cortland Transitioning to the Federal Direct Lending Program

Monitor your account online through myRedDragon & watch your "Personal Announcements" and campus events for updates.

President Obama’s Fiscal year 2010 budget proposes that, beginning July 1, 2010, all Stafford (subsidized and unsubsidized), Parent PLUS and Graduate PLUS loans be made from the William D. Ford Federal Direct Student Loan (Direct Loan) Program.  Therefore, SUNY Cortland will transition and begin processing all federal student loans through the William D. Ford Federal Direct Student Loan Program effective with the 2010 summer session.

Some of the benefits SUNY Cortland students will receive from this change are:

  • The Direct Loan Program is funded directly by the Federal Government which eliminates some of the confusion by offering a single source and process for federal student loans.
  • Direct Loans are not sold so borrowers will know who holds their loans during repayment.  Additionally, borrowers can consolidate their existing FFELP loans with their Direct Loans, enabling them to make one payment to one lender.
  • The Direct Loan Program offers a Public Service Loan Forgiveness program and an income-based repayment option for students in certain public professions or who have low incomes.
  • The interest rate for Direct Parent PLUS loans is 7.9% as opposed to 8.5% in the FFELP program.  This is a considerable savings for parents and graduate students.

What does this mean for SUNY Cortland students and parents?  This means that all Federal Stafford, Parent PLUS or Graduate PLUS loans will come from a different source next year but that funding is assured.  It also means that students, parents and graduate students (if a parent or graduate student desires to borrow a PLUS loan) will need to complete a new Master Promissory Note (MPN).

Parent and Graduate PLUS Borrowers:  The U.S. Department of Education is developing a new website and credit application that should be available at the end of March 2010.  We will update our website with information regarding this new process as soon as it becomes available.  Please do not apply with a lender or request credit approval until updated instructions are available.

As we transition to this new process, the Financial Aid Office at SUNY Cortland will be available to assist you and to direct you to on-line information about the Direct Loan Program to help you better understand the benefits of this conversion.  If you have any questions regarding this new process, please contact us at 607-753-4717 or e-mail us at finadv@cortland.edu