GIFT AID

Financial assistance offered to students that usually does not need to be repaid.  

PRATT MUNSON MERIT SCHOLARSHIP

Scholarships are awarded upon acceptance, with eligibility determined through a review of the application materials submitted during the admissions process. Students must maintain a 2.5 cumulative GPA at the end of their first year to maintain this award for sophomore year. This award does not need to be repaid.

A student’s merit scholarship eligibility is reevaluated when relocating to the Brooklyn campus. Eligibility will be based on the student’s cumulative GPA at the end of the first semester of their sophomore year at Pratt Munson. For a complete breakdown of GPAs and relocation scholarship amounts please click here.

PRATT MUNSON GRANT

An institutional grant designed to help students with their remaining college expenses.  Awarded to students based on their remaining financial need after all other aid has been awarded. Students are required to submit a FAFSA to be considered for this grant.  This award does not need to be repaid.

PRATT MUNSON ENDOWED SCHOLARSHIP

Awarded to students based on both the merit of their admissions application and financial need. Students must maintain a cumulative 2.5 GPA at the end of their first year to maintain this award for their sophomore year. Funds are limited. This award does not need to be repaid.

FEDERAL PELL GRANT

Awarded to students who demonstrate exceptional financial need. Awards are determined based on the information provided on the student’s FAFSA. This award does not need to be repaid.

FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT (SEOG)

Awarded to students who demonstrate exceptional financial need. Awards are determined based on the information provided on the student’s FAFSA. Funds are limited. This award does not need to be repaid.

NYS TUITION ASSISTANCE PROGRAM (TAP)

Awarded to NYS residents who demonstrate financial need. Students are required to complete an online NYS Student Aid Payment Application in addition to the FAFSA to determine their eligibility. This award does not need to be repaid.

SELF-HELP AID

Assistance that includes work opportunities and student loans.  Student loans are required to be repaid if they are borrowed.

FEDERAL WORK STUDY PROGRAM

Work study eligibility is a need-based work program and is offered to students who show exceptional financial need. Students maintain a part-time job on campus while enrolled at Pratt Munson. Students are paid New York State minimum wage and will receive a bi-weekly paycheck. These funds are not earned upfront and are not applied to your college tuition bill. Funding for this program is limited and will be offered on a first-come basis. Eligible students will be offered work-study on their Financial Aid Award Letter. Students must maintain a 2.0 GPA at the end of each semester to remain eligible for Federal Work Study.

FEDERAL STUDENT LOANS

Low-interest loans are offered by the federal government. Students must complete a FAFSA to be considered eligible for all federal loans. All students who borrow a federal student loan will be required to complete a Master Promissory Note and Entrance Counseling Session at StudentAid.gov. Students will be notified by the Financial Aid Office when these requirements are available.

• DIRECT SUBSIDIZED LOAN        
  Offered to students based on financial need. Interest rates are fixed at 6.53% for loans disbursed on or after July 1, 2024. Interest does not accrue while the student is in school. Repayment begins six months after the student graduates or stops attending. Maximum loan amounts are $3,500 for first-year students and $4,500 for sophomores.
• DIRECT UNSUBSIDIZED LOAN        
  Offered to students regardless of financial need. Interest rates are fixed at 6.53% for loans disbursed on or after July 1, 2024. Interest does accrue while the student is in school. Repayment begins six months after the student graduates or stops attending. Maximum loan amounts are $5,500 for first-year students and $6,500 for sophomores. An additional $4,000 is available to independent students or to dependent students whose parents have been denied the Federal Direct Parent PLUS Loan.

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