Cost & Financial Aid


Students sailing on Weatherly
 Webb Institute provides all enrolled students full-tuition scholarships to U.S. citizens and permanent residents, valued at $48,350 for the 2017-2018 academic year. Webb Institute also offers need-based aid to help cover additional costs of attending. All students in need of financial assistance must submit a Free Application for Federal Student Aid (FAFSA) www.fafsa.ed.gov. The Webb Institute Federal Code: 002900

Proper documentation is critical to the financial aid application process. Please note that your financial aid eligibility is based on your current enrollment status and may be subject to change based on final verification of your information. A student’s financial aid package is contingent upon federal, state, and institutional appropriations and regulations. If you are selected for a process called verification, you are required to provide Webb Institute all documents requested. Any changes made to the award as a result of verification will be stated in a revised award letter.

Any change of circumstance, change of address, or receipt of external funding, must be reported to the Office of Financial Aid. Webb Institute reserves the right to revoke any aid offer if there is any evidence that the conditions of enrollment status, financial need, or merit are not met. Changes in enrollment, including non-attendance or withdrawals, may reduce or cancel this aid offer. Canceled awards will not be replaced with other aid.

There is up to a 2.0% origination fee that may be deducted from your loan proceeds. Federal regulation mandates that all first-time borrowers at Webb Institute complete loan entrance counseling to sign your Master Promissory Note (MPN) online, prior to receipt of Federal Direct Loan Funds at www.studentloans.gov. You will be asked to use your four-digit pin number.

Cost of Attendance 2017-18

 International StudentsUS Citizens & Permanent Residents
Tuition$48,350$0 (full-tuition scholarship)
Room and Board$14,750$14,750
General Fee$     425$     425
Books$     700$     700
Transportation$ 2,000$ 2,000
Laptop Fee*$ 2,850$ 2,850
Total Cost of Attendance$ 69,075$ 20,725

For your budgeting purposes this is our estimate of what you can expect to spend in a school year. Travel expenses vary depending on the students’ distance from Glen Cove.

The $200 registration fee freshman pay will be applied against the Room and Board cost.

* The Laptop Fee is charged in the first year only. This cost is inclusive of sales tax and is billed in 2 installments.


Maximum Annual Loan Amounts

Dependent Student

LevelSubsidizedUnsubsidizedTotal
Freshman$3,500$2,000$5,500
Sophomore$4,500$2,000$6,500
Junior/Senior$5,500$2,000$7,500

Independent Student (24 years of age or older)

LevelSubsidizedUnsubsidizedTotal
Freshman$3,500$6,000$9,500
Sophomore$4,500$6,000$10,500
Junior/Senior$5,500$7,000$12,500

Types of Financial Aid Offered

Federal Direct Loan Program

Federal Direct Subsidized Loan
Subsidized loans are awarded on the basis of financial need. You will not be charged any interest before you begin repayment or during authorized periods of deferment because the federal government “subsidizes” the interest during these periods.

Federal Direct Unsubsidized Loan
Unsubsidized loans are not based on financial need. You will be charged interest from the time the loan is disbursed until it is repaid in full.

Federal Parent PLUS Loan (for undergraduate dependent child)
If you have a dependent in college, you may be eligible for college loans through the Federal Parent PLUS Program (PLUS). Parents can borrow up to the student’s cost of attendance, minus any other financial aid. These loans are based on credit history, and there is no limit on the aggregate amount.

Alternative Loans
These loans are available to students or parents to help meet the cost of education. They are based on credit history. Maximum amount of eligibility is based on the cost of education minus other financial aid. Interest rates and borrower benefits vary by lender. Webb Institute recommends that you review borrowing options through the federal aid programs first and then evaluate the alternative loan options available.

Pell Grant

A Pell Grant is a grant from the federal government that does not have to be repaid. Pell Grants are awarded based on financial need as demonstrated on the FAFSA. The amount of Federal Pell Grant funds you may receive over your lifetime is limited by federal law. The federal government will keep track of your lifetime eligibility used (LEU) and reports your percentage used to the Office of Financial Aid.

NY State Tuition Assistance Program (TAP)

TAP is a tuition-only award for undergraduate students. It is only for U.S. citizens/permanent residents who reside in NY State and attend a NY State approved college full-time. Students must make academic progress as defined by the state to continue to receive TAP. Undergraduate students are limited to eight (8) semesters of TAP. All students receiving TAP must submit proof of U.S. high school completion (final high school transcript or high school diploma). This documentation must be submitted by the first day of class of the first semester the student will receive the TAP award. Failure to submit the necessary documentation may result in losing eligibility for that semester’s award.

All New York State Residents will be required to apply for NY State Tuition Assistance Program (TAP) as a condition of eligibility for any Webb Institute administered scholarships. TAP Awards are for tuition only and do not reduce student expenses. TAP Awards range from $100 to $5,165 per year. When you file your FAFSA, your FAFSA information will automatically be used to determine eligibility for TAP. Please refer to www.hesc.ny.gov.

Scholarships

Webb has been successful in insuring the admission and continuation of education for all students in financial need, as long as all academic requirements are met. Students needing additional funds to meet the necessary expenses are requested to consult the Office of Financial Aid prior to the start of each academic year.

Please visit our Scholarship page for a full list of our internal scholarships that are available to students who have completed a FAFSA and meet all academic and financial eligibility requirements.