Office of Financial Aid
Location: Harkins Hall 403
Meeting the cost of a private college education is a challenge for most students and their families. In recognition of this reality, Providence College provides a multifaceted financial assistance program to help students as they formulate a plan to finance their education. In determining financial aid awards, Providence College distributes financial assistance based on a number of factors, including federal policy, institutionally determined financial need, academic qualifications, and the availability of resources. The College reserves the right to modify the criteria for financial aid if the law or College policy changes.
Since the primary responsibility for the education of a student belongs to the individual and his or her parents or guardians, it is presumed that the student and the family will make the maximum effort to provide for the expenses of an undergraduate education. Should parents or guardians discontinue their support for reasons other than ability to pay, Providence College cannot assume financial responsibility for the student. Financial aid from the College or other sources should always be considered a supplement and not a substitute for parental contributions.
Providence College uses the Federal Methodology required by the Higher Education Act (1992), as amended, to determine a student’s eligibility for federal financial aid programs. This methodology allows the College to distribute federal financial aid to eligible students in accordance with federal guidelines. The Federal Methodology calculates a level of eligibility for student applicants that is carefully reviewed by the Office of Financial Aid and may be adjusted to reflect additional information not available at the time of the initial award.
For institutional need-based aid, the College subscribes to the Institutional Methodology, a more comprehensive analysis of a family’s ability to contribute. The Institutional Methodology provides a systematic and objective measurement of the family’s financial situation and the subsequent amount of financial assistance the student is eligible to receive. With that determination of need, the Office of Financial Aid constructs an aid package consisting of grant assistance, work, and loans in accordance with federal regulations, the availability of funds, and institutional policy. Regrettably, College resources are not always adequate to meet the full need of all eligible applicants. In any given class of students, it may not be possible to fully assist eligible students.
All grant and loan funds are credited to the student’s account following the add/drop period of each semester by the Office of the Bursar. Federal work-study funds are never credited to student accounts and should not be used in determining payment of the tuition bill. Work-study funds are earned during the semester and paid directly to the student on a bi-weekly basis.
The receipt of outside assistance, including but not limited to state scholarships, scholarships from private organizations, and high school awards, may result in an adjustment to the original aid offer when the additional assistance provides the student with total funds in excess of calculated institutional eligibility. When it is necessary to adjust an aid offer, reductions will be applied to federal need-based student loans or federal work-study first.
Any aid recipient who withdraws from the College is subject to the refund and repayment policy published in the Financial Information section of the College catalog. Appropriate refunds and repayments to federal aid accounts will be calculated in accordance with federal and institutional policy in effect at the time of withdrawal.
All financial aid recipients are required to maintain satisfactory academic progress as defined by the Office of the Dean of Undergraduate and Graduate Studies, the Department of Education, and specified in the College Catalog. Failure to maintain the minimum standards for completion of degree requirements will result in the loss of all aid.
In order to ensure that financial aid funds are distributed on an equitable basis, and to meet U.S. Department of Education requirements, a number of student applicants are required to complete a process called “verification.” Students selected to complete the verification process are required to submit documentation of the information initially provided on the student’s FAFSA. Documentation includes: Internal Revenue Service (IRS) tax transcripts for the parent and student; W2 forms showing wages earned from work; documentation of untaxed income; statements which confirm the number of family members receiving parental support; the number of family members enrolled in college; and any other documentation the College requires. Students who must complete the verification process should read requests for verification very carefully and respond in a timely manner. Failure to comply with verification requirements can result in the loss of all financial aid.
Most of the financial aid applications require students to submit application materials electronically. Applicants using an electronic process are encouraged to allow sufficient time for problems that may be encountered during peak filing times. Applicants are urged to mail all application materials early enough to allow sufficient time for postal handling and delivery before the published deadline dates. Applicants are required to complete the appropriate forms each year assistance is sought. The information noted below applies solely to undergraduate students. Graduate and continuing education students should consult the catalog specific to their program for information on filing requirements and types of financial assistance available.
For the 2017-2018 academic year, there will be changes to both the application process and deadlines. Prospective and current students should review information from the Office of Admission and the Office of Financial Aid websites for information on specific requirements and deadlines.
- Entering Freshmen
All entering freshman applicants for financial aid must submit a Free Application for Federal Student Aid (FAFSA) and a College Scholarship Service (CSS)/PROFILE Application. Both forms must arrive at the appropriate processing center prior to our published deadlines. The FAFSA is required from those students interested solely in federal financial assistance, while the FAFSA and CSS/PROFILE are required to determine eligibility for institutional assistance.
- Upperclass Students
All returning upperclass student applicants for financial aid are required to complete the Renewal FAFSA or the FAFSA and a College Scholarship Service (CSS)/PROFILE Application. These forms must arrive for returning students at Providence College at the appropriate processing center prior to our published deadlines. The FAFSA is required from those students interested solely in federal financial assistance, while the FAFSA and CSS/PROFILE are required to determine eligibility for institutional assistance.
- Transfer Students
All transfer students are only required to have completed the FAFSA or Renewal FAFSA and a CSS/PROFILE Application. Both forms must arrive at the appropriate processing center prior to our published deadlines. The FAFSA is required from those students interested solely in federal financial assistance, while the FAFSA and CSS/PROFILE are required to determine eligibility for institutional assistance.
- Federal Direct Loan Program
Providence College participates in the William D. Ford Federal Direct Loan Program. Since the Direct Loan Program is administered by Providence College, the FAFSA is the only application required. The Loan Office at Providence College will provide the promissory note and any other supplemental materials for all student borrowers. The Office of Financial Aid and the Loan Office will process all matters involving the Direct Student Loan.
- Renewal of Aid
Renewal of need-based aid is not automatic. Students must reapply for need-based federal financial assistance each year by completing the FAFSA. For institutional need-based consideration, both the FAFSA and CSS/PROFILE must be filed by the published deadlines. All need-based financial assistance at Providence College is renewable for all four undergraduate years provided a student applies by the published renewal deadline, remains in good academic standing, and continues to demonstrate similar financial need.
Depending upon your calculated need in subsequent years, your aid award may vary. However, the principal factors used in computing your need are the same every year. These factors include such criteria as family income, assets, household size, and number of family members in college. The College reviews student aid provisions annually and reserves the right to adjust any award, both in kind and amount, when changes occur in a student’s financial or academic situation or because of funding limitations.
- Following Directions
Be certain to carefully read and follow the directions for completing all of the various applications for financial aid. This prevents unnecessary delay and enables the College to fully consider an application.
- Late Application
Late applications for financial assistance are accepted at any time. However, the actual distribution of awards is based on the availability of funds at the time the late application is received. For more information visit the Institutional Policies and Procedures section on the College Web site.
Sources of Federal, State, and Local Aid
The Federal Pell Grant application is included in the Free Application for Federal Student (FAFSA) and/or the Renewal FAFSA. Providence College will electronically transmit information from the Federal Student Aid Program for Pell Grant-eligible students. Awards may vary from $598 to $5,815 based on a family’s Expected Family Contribution (EFC) as determined by the FAFSA, the student’s actual enrollment (i.e. summer or academic year), and enrollment status (i.e. full-time or part-time).
Federal Supplemental Educational Opportunity Grants are funded by the federal government and awarded by the College to undergraduate students with exceptional financial need. Awards range from $200 to $4,000.
Federal guidelines require that Pell Grant recipients with exceptional financial need receive preference for Federal SEOG awards.
Army ROTC Scholarships
The U.S. Department of the Army ROTC scholarship program provides aid to qualified students at both the high school and college levels. For more information, please see the Military Science Web site.
State scholarships and grants are available from some states to students with financial need. Appropriate application materials must be submitted to state scholarship agencies within specified deadlines. Students are required to apply for state funds when available.
Local scholarships and awards are available through social, civic, religious, business, and labor organizations in a student’s local area. High school guidance offices have information and applications.
Providence College Scholarships and Grants
The College has adopted a Home School Tuition Policy for study abroad, and institutional grants and scholarships are available for transfer to other institutions. More information on the Home School Tuition Policy is published in the Center for International Studies section of this catalog.
Providence College merit-based scholarships are awarded to entering freshmen regardless of financial need. Merit-based scholarships are offered to a select group of students.
Liberal Arts Honors Program Scholarships
Scholarships are offered to students admitted to the Liberal Arts Honors Program who have achieved academic distinction at the highest level in high school. A student may be offered the St. Dominic Scholarship, St. Thomas Aquinas Scholarship, St. Catherine of Siena Scholarship, or the St. Joseph’s Scholarship. The St. Dominic Scholarship is equal to the value of full tuition. Students may receive either the St. Thomas Aquinas Scholarship, an award equal to the value of 80 percent of tuition, the St. Catherine of Siena Scholarship, an award equal to 60 percent of tuition, or the St. Joseph’s Scholarship, an award equal to 40 percent of tuition. All of these scholarships are renewable for up to four years as long as students remain active members of the Liberal Arts Honors Program. Students must successfully complete the normal semester course load as articulated in their scholarship agreement, and maintain a 3.0 semester GPA during each semester of their freshman year, and a 3.25 GPA for each subsequent semester. Beginning with the Class of 2016, the merit awards for the Liberal Arts Honors Program have been expanded to include the St. Joseph Scholarship. The award amounts are noted in the table below. All freshman candidates filing an application for admission are automatically considered for the Liberal Arts Honors Program.
Albertus Magnus Academic-Based Merit Scholarships
Albertus Magnus scholarships are awarded to students who have demonstrated superior academic performance during their entire high school career, but were not selected for inclusion in the Liberal Arts Honors Program. All scholarships are renewable for four years provided students meet the GPA requirements. For the academic scholarships, the recipient must successfully complete the normal semester course load as articulated in their scholarship agreement, and maintain a 2.75 semester GPA during each semester of their freshman year, and a 3.00 GPA for each subsequent semester.
Providence College Friar Scholarships
Providence College Friar Scholarships are merit awards intended to recognize high school seniors who have not only demonstrated the academic discipline necessary to succeed in the classroom, but have also displayed extraordinary commitment, leadership, and responsibility in their extracurricular pursuits.
The following scholarships are in place for the 2016-2017 academic year.
Liberal Arts Honors
Class of 2017 and 2018
Class of 2019 and 2020
St. Dominic Scholarship
St. Thomas Aquinas Scholarship
80% of tuition
80% of tuition
St. Catherine of Siena Scholarship
60% of tuition
60% of tuition
|St. Joseph Scholarship
|40% of tuition
|40% of tuition
$15,000 tuition award
$15,000 tuition award
PC Friar Scholarships
$9,000 tuition award
$10,000 tuition award
All merit-based scholarships are guaranteed for all four years (8 semesters) as long as the student meets the terms listed on the College’s merit-based scholarship agreement form (applies only to the Liberal Arts Honors and Academic Scholarship awards). If a student receives another source of funding that is designated solely for tuition, the merit award may be reduced since the total of these sources cannot exceed the tuition charge on an annual basis. All freshman candidates filing an application for admission are automatically considered for the Liberal Arts Honors Program.
Providence College Grants are awarded to undergraduate students on the basis of need. Grants are renewed if the student is making satisfactory progress toward a degree, their need has not diminished, and the student adheres to all financial aid application deadlines.
Providence College Family Grants are available when two or more members of a family attend the College’s undergraduate program at the same time. The tuition of the younger student(s) is reduced by $1,000. This award is determined during the review of the financial aid application. A student who believes they may be eligible, but whose awards do not reflect this grant, should contact the Office of Financial Aid. The Family Grant is not applicable when both family members are already receiving institutional money covering tuition in full.
Rev. Dr. Martin Luther King, Jr. Scholarship
Established in 1968, this full tuition scholarship assists undergraduate AHANA (African American, Hispanic, Asian and Native American) students and others who demonstrate a desire and ability to contribute to Providence College’s diversity. Selections are made by a committee and are based on financial need, academic and leadership potential, and community service. No separate application is required to be considered for this award. Scholarships are awarded to incoming freshmen only; transfer students are not eligible for consideration. Interested students should contact the Office of Undergraduate Admissions at 401.865.2535.
J.F. Cunningham, O.P. Scholarship
Established in 1985, this full-tuition scholarship assists undergraduate Southeast Asian students who currently reside in the Greater Providence area and demonstrate a desire and ability to contribute to the College’s diversity. Selections are made by a committee and are awarded to students with financial need, community service, demonstrated leadership potential, and a strong high school performance. No separate application is required to be considered for this award. Scholarships are awarded to incoming freshmen only; transfer students are not eligible for consideration. Interested students should contact the Office of Undergraduate Admissions at 401.865.2535.
Saint Juan Macías Scholarship
The Saint Juan Macías Scholarship, originally established in 1988 under a different name, is awarded to undergraduate AHANA (African American, Hispanic, Asian and Native American) students and others who demonstrate outstanding academic achievement and a desire and ability to contribute to Providence College’s diversity. The scholarship is granted for the full amount of tuition, room, and board. Renewal of this award is contingent upon excellent academic performance. No separate application is required to be considered for this award. The scholarship is awarded to incoming freshmen only; transfer students are not eligible for consideration. Interested students should contact the Office of Undergraduate Admissions at 401.865.2535.
Individuals, foundations, and corporations generously contribute endowed and restricted scholarships to Providence College to support the educational opportunity of deserving students.
Scholarship recipients for Endowed/Donor Scholarships are selected by the Office of Financial Aid in accordance with the specific criteria for each scholarship and are distributed by the Office of Financial Aid. The endowed scholarship funds provide a vital and important supplement to the financial aid programs at Providence College. The overall amount of Providence College grant resources a student is awarded is determined by financial need.
If a student is selected as a recipient for an endowed scholarship, the funds will be used to replace and not supplement the original grant awarded. No separate application is necessary in order to be considered for these special funds. All eligible students will be considered for scholarships and will be notified by the Office of Financial Aid beginning in the summer and continuing throughout the academic year.
The Federal Work-Study Program is a federally funded, part-time employment program that allows students with financial need to work both on- and off-campus during the academic year. Full-time summer employment is also available for eligible students. A listing of available jobs is available online by visiting the student employment section of the Financial Aid Web site.
Providence College is committed to providing opportunities for students who are eligible for federal work-study to perform community services off-campus as part of the employment experience. These services will contribute to both the quality of life for community residents and to the quality of the students’ educational experience here at Providence College.
The Off-Campus Job Referral Service is available to all students interested in working for off-campus employers in the Greater Providence area. The Office of Financial Aid compiles, maintains, and lists all positions. Interested students should contact the Office of Financial Aid or Feinstein Institute for Public Service.
The Providence College Student Employment Program is funded by the College and available to a limited number of students. Employment opportunities are available in various departments when federal work-study students are unable to fill each position. A listing of jobs is available online by visiting the student employment section of the Financial Aid Web site.
Federal Perkins Loans funded by the federal government are awarded by the Office of Financial Aid to students who demonstrate high levels of eligibility. They are available to both graduate and undergraduate students. Under current legislation, repayment at five percent interest is deferred until nine months after graduation. Repayment may extend up to 10 years.
The Federal Direct Loan Program is available to both undergraduate and graduate students. The conditions governing borrowing limits, interest rates, subsidies, deferments, and repayment are the same as the Stafford Student Loan Program. The loan application process, the distribution of promissory notes, and disbursement of funds are handled by Providence College. No banks or guarantee agencies will be involved in the process. Under current legislation, these loans have a fixed interest rate set annually. Repayment is deferred until six months after graduation, and a variety of repayment options is available. Students who have borrowed from more than one program will be able to consolidate other federal student loans under a single Direct Loan repayment option. All Direct Loans are subject to an origination fee and will be credited directly to the student’s account each semester.
Annual borrowing limits:
The Federal Direct Loan Program is available to all students regardless of family income. Students from higher-income families may be required to pay an in-school interest subsidy, but all other provisions of an unsubsidized loan-such as borrowing limits, repayment, etc.-are the same as a subsidized Direct Loan.
The Federal Direct PLUS Loan Program is available to parents who are interested in borrowing to meet educational costs. Since this program is a part of the Federal Direct Loan Program for students, all loan transactions will be handled by the Student Loan Office at Providence College. Parents may borrow up to the cost of education minus any financial aid and student Direct Loans. Interested parents may apply for a PLUS Loan at www.studentloans.gov. PLUS Loan borrowers are subject to a credit check, and a 4.204 percent origination fee is deducted from the loan amount. A Free Application for Federal Student Aid (FAFSA) must be filed by the student who is attending Providence College in order for the PLUS Loan to be processed.
Helpful Financial Aid Links
The U.S. Department of Education maintains a student portal (http://studentaid.ed.gov) that allows families to get all the information they need from just one place. At that site, you can access department publications such as the Student Guide and Funding Your Education, apply for a PIN, file the FAFSA on the Web, access the National Student Loan Data System (NSLDS), link to information about your state’s scholarship or grant program, link to searches for private scholarships, and much more.
Other helpful links are:
Filing the FAFSA Online
Filing the CSS/PROFILE Online
Fast Web Scholarship Sources
Financial Aid Information Page
Yahoo Financial Aid Search
Peterson’s Education Center
Tuition Management Systems