The purpose of this site is to present information about our Grants and Interest-free College Loan Program for students and parents living in Manhasset.
Our mission is to provide financial assistance for high school seniors and graduates residing in Manhasset who have exhausted all other means of assistance and still require aid.
To receive financial assistance from Manhasset Student Aid Association for the purpose of continuing formal education, a student must:
- Be a resident of Manhasset School District #6, Town of North Hempstead, New York.
- Have graduated from high school or obtained a GED, and displayed academic accomplishments that are consistent with his or her ability.
- Have demonstrated financial need and provided evidence that other sources of financial aid have been explored.
- Be of good character as revealed in school and in the community.
- Have a sense of serious purpose and responsibility and show promise of success in the school to which he or she aspires or is attending.
STEPS FOR APPLICANTS
- As early in the school year as possible, talk with the Guidance Counselor if the student is interested in applying to MSAA
- MSAA can only give supplemental aid. The student, with the counselor and parents, must explore together all available private and governmental sources of financial assistance as early as possible in the senior year. Those sources to which the student has applied must be indicated on the application to MSAA.
- Obtain an application from your Guidance Counselor, PRINT or DOWNLOAD APPLICATION (See Application download under the Application on this Web site)
The Selection Committee consists of five members of the MSAA Board of Directors. The review of each application is strictly confidential and limited to being read by this small committee. The names of the applicants as well as the names of the award recipients are never revealed.
LOANS and GRANTS
We now offer Grants as well as Interest Free Loans to Students who need our help. The amount of financial assistance to be awarded to any student is determined by the Selection Committee.
The awards are in the form of Grants and interest-free loans payable each year for all four years of college as long as the student maintains a satisfactory academic record and the financial need continues. Students must reapply each year to continue receiving financial assistance. The Selection Committee establishes the schedule for repayment of loans.
Money awards will be sent directly to the appropriate school or college office.
The Manhasset Student Aid Association maintains a financial reserve to assure each successful applicant that he or she will have funds available, if needed, each year.
OBLIGATIONS OF LOAN RECIPIENTS
The primary obligation of recipients of an Interest Free Loan is to maintain satisfactory academic progress as outlined in their application for assistance from the Association. Recipients are expected to keep the Selection Committee advised of any changes in their educational or financial status throughout the duration of financial assistance from the Association. (Grant recipients are not required to pay back the Grant).
The primary goal of the Manhasset Student Association is to insure that no young man or woman residing in Manhasset will be barred from a serious pursuit of post high school education due to financial inability.
The Manhasset Student Aid Association offers grant and interest-free loans to deserving students in order to supplement other available sources of funds as long as may be required for attendance at special training courses, vocational schools, two-year or four-year colleges, and in some cases, for graduate school.
SOURCES OF FUNDS
Funds for the above purposes are derived from three sources:
- Voluntary contributions from the residents of Manhasset in response to an annual mail solicitation each March.
- Repayment of loans by previous recipients.
- Gifts made in memory or in honor of individuals.
All gifts to the Manhasset Student Aid Association are tax-deductible
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