Financial Aid Frequently Asked Questions
You must complete the FAFSA (Free Application for Federal Student Aid) at www.fafsa.ed.gov. After October 1st you are advised to file by for the upcoming academic year. Stony Brook's federal school code is 002838.
Your financial aid eligibility is based on your financial need. Financial need is calculated by subtracting your Expected Family Contribution (EFC) from your estimated Cost of Attendance (COA), also referred to as your estimated financial aid budget. Due to limited resources, the amount of financial aid awarded to you may not cover your total financial need.
The EFC is a measure of your and/or your family's financial strength and indicates
how much money should be available to help pay for your education. The EFC is calculated
according to a formula established by law based on the information reported on the
FAFSA. The EFC is used to determine eligibility for some federal grant, work, and
loan programs. There are other loans like Federal Direct PLUS that are available to
replace the EFC. Contact your Financial Aid Office for additional information. Your
EFC is listed on your resulting Student Aid Report (SAR) after you have filed your
If you or your parents' financial circumstances have changed since the FAFSA was completed, contact your Financial Aid Office to see if you should complete a re-evaluation form.
Direct Costs are paid to the University and include tuition, university fees, and average room and meal costs (if living on campus).
Indirect Costs are estimated additional educational expenses that you may incur during the enrollment period. These costs are not paid directly to the University and include budget category items such as books and supplies, transportation, personal expense allowance, average loan fees, and a living allowance for room and meals (if living off-campus).
Additional educational expense allowances (such as childcare expenses) may be added to the standard budget upon receipt of request and supporting documentation.
In addition to filing the FAFSA, you must be enrolled for at least 6 credits. Please see Summer Financial Aid.
The Bursar's Office offers a convenient program for processing student refunds. Through direct deposit, they will deposit any student refund into the financial institution of your choice. Electronic deposits are secure, fast and convenient and you can avoid waiting to receive your refund check at the counter or in the mail. Enrollment is done via the SOLAR system. To enroll, log into SOLAR > Student Financial Services > Account Information/Payment > Direct Deposit > Add Account > Complete the Panel > Save. At any point during the term you may edit or delete this direct deposit refund option. Refund checks are printed every other week. Refunds through direct deposit are processed daily.