Financial Aid and Scholarships

Contact Information
Office of Financial Aid
Phone: 401.865.2286
Fax: 401.865.1186
E-mail: finaid@providence.edu
Location: Harkins Hall 403

General Policy

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 made based on the institutional need and packaging policy. Changes will be made first to offset any unmet need and then federal loans and work-study awards before adjustments are made to need-based grant. In some cases, students may be able to retain their subsidized loan if they have need-based federal eligibility.

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 Student Success Center in the Academic Policies  section of the catalog, and by the US Department of Education. 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 may 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.

Application Procedures

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 supplemental 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 by the published deadline. 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.

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.

Filing Requirements

1. 1. Entering Freshmen
      All entering freshman applicants for financial aid must submit an official 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 need-based institutional assistance. For students whose parents are self-employed or have an interest in a business, partnership, S-corporation, or corporation, additional business tax returns may also be required.
   2. Returning Students
      All returning student applicants for financial aid are required to complete the FAFSA and 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 need-based institutional assistance.
   3. Transfer Students
      All transfer students are required to complete the FAFSA and 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 need-based institutional assistance. For students whose parents are self-employed or have an interest in a business, partnership, S-corporation, or corporation, additional business tax returns may also be required.
2. Federal Direct Loan Program
   Providence College participates in the William D. Ford Federal Direct Loan Program. The FAFSA is the only application required to calculate a student’s loan eligibility within this program. The Office of Financial Aid at Providence College will communicate information and additional requirements (i.e. entrance/exit counseling, master promissory notes) to interested borrowers.
3. 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 received 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.
    
4. 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.
    
5. 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 Policies and Procedures section on The Office of Financial Aid’s Website.

Sources of Federal, State, and Local Aid

The Federal Pell Grant application is included in the FAFSA. Providence College will calculate an award for Pell Grant-eligible students using all application materials. Awards may vary from $711 to $6,895 and is 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.

US Army ROTC Scholarships
The U.S. 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  Website.

State scholarships and grants are available from a limited number of states to students with financial need. Appropriate application materials must be submitted to the state scholarship agencies within their specified deadlines.

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 Global Education  section of this catalog. 

Class of 2026
Academic Scholarships are merit-based scholarships which range from approximately $20,000 to $35,000 per year with several levels offered in between. There is no separate application to be considered for a merit-based scholarship. Scholarships are awarded to approximately 30% of admitted students and are done so solely based off academic performance. Those typically receiving a merit-based scholarship have exhausted the curriculum available at their school and maintained close to an A average (3.8 out of 4.0 unweighted and recalculated GPA). All scholarships are renewable for four years provided students meet the GPA and academic progress requirements.

Roddy Scholarship covers up to tuition, fees, room and board costs. Students must aspire to a career in the medical profession. Consideration is based on outstanding academic achievement in high school. No separate application is required to be considered for this award. There is only one Roddy Scholarship available each year and it is only awarded to first-year students who reside in the United States.

Feinstein Scholarship Scholarships are up to $5,000 and are awarded to a select group of students who demonstrate a significant commitment to community service, a proven record of community involvement, and a strong high school academic record. Accepted students who have declared a major in Public and Community Service Studies are invited to apply for this award.

Fine Arts Scholarships are offered to students who demonstrate great potential in contributing to the arts on campus. The Sister Gail Himrod Scholarship is offered by the Department of Music for prospective students intending to major in Music, Music Education, or Musical Theatre. Students must audition to be considered for the Sister Gail Himrod Scholarship. The McAlister Scholarship is offered by the Art Department for prospective students intending to major in studio art. While a portfolio is not required for admission to the major, it is required to be considered for the McAlister Scholarship. The Nagle Scholarship is offered by the Department of Theatre, Dance & Film for prospective students intending to major in Theatre. Students must audition and demonstrate excellent performance abilities in theatre to be considered for the Nagle Scholarship. Each department awards five scholarships for the amount of $10,000 per year.

Transfer Students
St. Rose of Lima Transfer Scholarship is $20,000 per year merit-based scholarship available to transfer students who have demonstrated superior academic performance in college coursework completed previous to enrolling at Providence College. Students who have achieved a minimum cumulative GPA of 3.5 in all courses - and have taken a rigorous full-time liberal arts program of study - will be considered for these awards. Please note that a 3.5 cumulative GPA is not a guarantee of a scholarship, but suggests the minimum type of performance necessary to be a competitive candidate. Students must complete a full year of coursework before transferring to Providence College to be eligible for consideration for the St. Rose of Lima Transfer Scholarship. The scholarship is renewable for each year of uninterrupted study at Providence College, but will not extend past the expected year of graduation at the time of enrollment. The scholarship is available only for students entering the fall semester. It is strongly suggested students apply by the April 1 priority deadline to be considered for this scholarship.

Merit-based scholarships (except for the St. Rose of Lima) 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. 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 Honors Program. Upper-class student awards may differ from the types and amounts noted above. Students should review their merit letters and contracts for award amounts of conditions of the award.

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 or half-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. A separate application is required. Scholarships are awarded to incoming freshmen only; transfer students are not eligible for consideration. Interested students should contact the Office of Undergraduate Admission 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 strong high school performance. A separate application is required. Scholarships are awarded to incoming freshmen only; transfer students are not eligible for consideration. Interested students should contact the Office of Undergraduate Admission 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. A separate application is required. The scholarship is awarded to incoming freshmen only; transfer students are not eligible for consideration. Interested students should contact the Office of Undergraduate Admission at 401.865.2535.

Endowed/Donor Scholarships

Individuals, foundations, and corporations generously contribute endowed and restricted scholarships to Providence College to support the educational opportunity of deserving students. The endowed scholarship funds provide a vital and important supplement to the financial aid programs at Providence College.

Scholarship recipients for Endowed/Donor Scholarships are selected by the Office of Financial Aid in accordance with the specific criteria for each scholarship.

If a student is selected as a recipient for an endowed/donor 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 funds. All eligible students will be considered and notified by the Office of Financial Aid beginning in the summer and continuing throughout the academic year.

Student Employment

The Federal Work-Study Program is a federally funded, part-time employment program that allows most 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 vacant positions is available online on Handshake: https://app.joinhandshake.com/login

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.

Loans

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 governed by the U.S. Department of Education. The loan application process (i.e. the FAFSA), the coordination of promissory notes, entrance/exit counseling, and disbursement of funds are all 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 are available. Students who have borrowed from more than one federal loan within this program will be able to consolidate 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 Office of Financial Aid at Providence College.Parents may borrow up to the cost of education minus any of the student’s financial aid (including work-study and loans). Interested parents may apply for a PLUS Loan at https://studentaid.gov/. PLUS Loan borrowers are subject to a credit check, and an origination fee (percentage set annually) is deducted from the loan amount prior to being credited to the student’s bill. A FAFSA must be on file for the student in order for the PLUS Loan to be processed.

Helpful Financial Aid Links

The U.S. Department of Education maintains a student portal ( https://studentaid.gov) that allows students and parents to get all the information they need from just one place. At that site, families can learn more about how financial aid works, submit a FAFSA, complete supplemental loan requirements (entrance counseling, promissory notes), apply for an FSA ID and access the National Student Loan Data System (NSLDS).

Other helpful links are:

Filing the FAFSA Online
https://studentaid.gov/h/apply-for-aid/fafsa

Filing the CSS Profile Online
https://cssprofile.collegeboard.org

Fast Web Scholarship Sources
www.fastweb.com

Peterson’s Education Center
www.petersons.com

Tuition Management Systems
www.afford.com