LRAP Plus Policies

Notifications of Changes

Participants must notify the Office of Student Financial Services within 30 days of the effective date of a change in eligibility or within 30 days of the date upon which they became aware of such a change. Changes that must be reported include (but are not limited to) changes in salary, marital status, employment, and loan repayment status or amount.

Changes to loan payments based solely on quarterly interest rate adjustments should not be reported except on the annual application and benefits will not be adjusted on that basis. Participants will be required to submit supporting documentation to substantiate the change(s).

Changes are to be submitted to NYU via the LRAP application within thirty days of the change. Failure to report application changes may result in a delay or cancellation of continued LRAP benefits. Any recalculation of benefits using the effective date of a reported change and any subsequent adjustment to the benefit resulting from the change will be reflected beginning with the next disbursement. Documentation of changes may be attached to an active LRAP application or by sending them to

Participants who are eligible for an increased monthly benefit amount will receive any retroactive adjustment as part of the next disbursement.