Paying for

Congratulations on your decision to go to school! This is a big step toward fulfilling your career dreams, and now you need to decide how you will pay for your college education. Check out the information below to see what financial aid options (grants and loans) are available to make paying for school affordable.


Grants differ from loans in that they do not have to be repaid, making them a desirable option when paying for school. Grants are awarded by federal and state governments.

Swedish Institute participates in several State and Federal Grant programs, including the Federal Pell Grant Program, the Federal Supplemental Educational Opportunity Grant Program (FSEOG), the New York State Tuition Assistance Program (TAP), and the New York State Aid for Part-Time Study Program (APTS).

Pell Grant, FSEOG, TAP, and APTS are awarded to those students who meet income eligibility guidelines determined by the U.S. Department of Education or the New York State Higher Education Services Corporation (HESC).

Applying for Loans

Loans let you pay your education expenses over a long period of time at a lower (and often tax deductible) interest rate. Some loans are need-based, while others are available to nearly everyone.

Federal Direct Loans (Subsidized Stafford Loans,  Unsubsidized Stafford Loans and Parent Loans for Undergraduate Students)

Federal Direct Loans are lower-interest loans for students attending school at least part-time. Direct Loans must be repaid with interest, and payments typically begin six months after leaving school. The amount of each payment depends on the size of the debt and the ability to pay.

Students can qualify for a Direct Loan based on financial need, as determined by the FAFSA. The need-based loan (known as “subsidized”) offers in-school interest subsidies by the federal government. In addition, students may qualify for non-need-based Direct loans (known as “unsubsidized”). These loans do not offer interest subsidies. It is possible for students to have both subsidized and unsubsidized Direct loans; however, there are loan limits a person can borrow in the first academic year. Ask your Financial Aid representative for more details.

Federal Direct PLUS Loans are for parents who want to borrow money to help pay for a child’s education. These loans enable parents with good credit history to borrow for each dependent. Unlike other financial aid programs, a family financial analysis is not required to be eligible for a Direct PLUS Loan. PLUS Loans must be repaid. Repayment generally begins 60 days after the loan is fully disbursed.

All borrowers must participate in an Entrance and Exit Interview to ensure a complete understanding of their rights and responsibilities. Please note: Students may be required to participate in additional Financial Literacy workshops and activities.

Discover Alternative Financial Options

New Price Calculator

To get an early approximation of your potential costs to attend Swedish Institute, use our price calculator. All financial results are only an approximation based on the information you will supply and cannot be considered an actual award.