Financial Aid


Webb Institute Commencement

Every US citizen and Permanent Resident who enrolls at Webb receives a full-tuition scholarship.

Webb 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). The Webb Institute Federal Code: 002900

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 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. You will be asked to use your four-digit pin number.

Federal Aid

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.

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.

Scholarships

In addition to the full-tuition scholarship, Webb also offers internal scholarships that can be used to offset room and board and other costs. The Scholarship Committee meets in the beginning of May to review FAFSAs and other necessary information to satisfy the criteria of certain scholarships.  Students will be notified of the awards at the end of May.

Need-Based Scholarships

All students are automatically considered for all need-based scholarships upon filing the Federal Application for Federal Student Aid (FAFSA).  You can complete the FAFSA at http://www.fafsa.ed.gov or go to http://www.ed.gov for more information.  Some of the scholarships are only awarded in a student’s particular year of study which is reflected below in the scholarship lists.  Scholarships are granted annually and can change from year to year.

  • Fisher Maritime/Dunderberg Scholarship
  • Charles J. “Corkie” Sautkulis ’72 Scholarship Fund
  • John J. Hopkinson Memorial Scholarship Fund
  • Dr. and Mrs. Alfred M. Zeien ’52 Student Scholar Endowment
  • Kurz Family Scholarship
  • Robert D.L. Gardiner Foundation Scholarship Program
  • Arthur Burr ’54 Scholarship Fund
  • Marilyn Burr Scholarship Fund
  • Class of 1956 Scholarship
  • Glosten Scholars Program
  • Damon Greenleaf Douglas III Memorial Scholarship Fund
  • Peaslee DuMont ’32 Scholarship Fund
  • Ken Heitner ’64 and Rhoda Ritzenberg Scholarship
  • Hoyt Scholarship
  • Jonathan Lance Class of 1980
  • Matson Foundation Scholarship
  • Smith McKann ’38 Family Scholar Fund
  • Olsen Family Scholarship Fund
  • Herman D. Pollock Family Foundation Scholarship Fund
  • Philip J. Sims ’71 Memorial Scholarship
  • Towle Scholarship

Merit-Based and Other Scholarships:

Students can apply for the following merit-based and non-need-based scholarships after notification from the admissions or scholarship committee.

  • FIRST Robotics*
  • League Scholarship*

*Students will be emailed with an application from the admissions committee to apply for these scholarships.

  • Robert G. Mende ’51 Scholarship Fund*

*Students will be notified from the scholarship committee of the criteria needed to apply for these scholarships.

  • American Bureau of Shipping Annual Scholarship Fund*
  • Thomas B. Crowley, Sr. Memorial Scholarship Fund*

*Students will be notified from the scholarship committee of the criteria needed to apply for these scholarships.

Other Scholarship Opportunities

Maximum Loan Amounts

Dependent Student

Level Subsidized Unsubsidized Total
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)

Level Subsidized Unsubsidized Total
Freshman $3,500 $6,000 $9,500
Sophomore $4,500 $6,000 $10,500
Junior/Senior $5,500 $7,000 $12,500

Need more information?

Contact Ms. Josie Wilson, Director of Academic Services