The Albertus Magnus College Financial Aid Office’s mission is to serve the student body, provide financial means, promote financial knowledge, and facilitate affordable access to higher education. The Financial Aid Office assists students in financing their education by using a variety of sources including: scholarships, grants, loans, and work-study programs.
Be sure to use the College's school code: 001374
Applications received after these dates will be processed based on availability of funds.
Financial aid offers are based on demonstrated need, which is calculated as Cost of Attendance (COA) minus Expected Family Contribution (EFC):
COA - EFC = Demonstrated Need
Loans to support your education will be credited to your balance when we receive the funds from the lender.
With demonstrated need, you may apply for this federal loan and borrow up to $3,500 as a freshman, $4,500 as a sophomore and $5,500 as a junior or senior. A six-month grace period is provided after graduation or if you fall below half-time enrollment before repayment must begin. Interest is currently fixed at 4.66% but may be subject to change. While you remain in school, the government pays interest on all subsidized loans.
You may qualify for this non-need-based federal loan. Interest is currently fixed at 4.66% but may be subject to change. While in school and in any deferment periods, you are responsible for paying the interest. Dependent students may be eligible for additional unsubsidized funds with a Direct PLUS Loan denial.
You may combine subsidized and unsubsidized Stafford loans to help meet your needs. Freshmen may qualify for $3,500 subsidized and an additional $2,000 in unsubsidized Stafford loans, while sophomores may qualify for $4,500 subsidized and an additional $2,000 unsubsidized. Juniors and seniors may qualify for $5,500 in subsidized Stafford loans and an additional $2,000 unsubsidized. Interest rates are typically reset in July.
A 1.073% origination fee will be assessed on all Federal Direct Stafford Loan Disbursements whose first disbursement occurs on or after December 1, 2013.
Your demonstrated need may make you eligible to receive grant funds that do not require repayment.
Need-based award offered to students with very low Estimated Family Contribution (EFC). Each year, the federal government determines award levels, including the maximum and minimum amounts. For the 2014/2015 Academic Year, the maximum Federal Pell Grant amount is $5,730.
Need-based award funded by the federal government and offered to students with the highest need, with priority given to Federal Pell Grant recipients.
Students may also qualify to participate in the Federal Work-Study Program, which employs students on-campus. A 2.0 Cumulative Grade Point Average must be maintained to participate in the Federal Work-Study Program. Wages meet federal minimum-wage standards.
Students may also qualify to participate in the Federal Community Service Work-Study Program, which employs students off-campus. A 2.0 Cumulative Grade Point Average must be maintained to participate in the Federal Work-Study Program. Wages meet federal minimum-wage standards.
The Department of Education requires that all institutions of higher education disclose pertinent policies to the student body. All current Financial Aid Policies, including the Satisfactory Academic Progress Policy, can be found on the Consumer Information Page. Please contact the Financial Aid Office for clarification or for more information on any of the policies.
When you complete the FAFSA, be sure to include the College's school code: 001374.
8:30 a.m. – 4:30 p.m. Monday
8:30 a.m. – 4:30 p.m. Tuesday
8:30 a.m. – 4:30 p.m. Wednesday
8:30 a.m. – 4:30 p.m. Thursday
8:30 a.m. – 1:15 p.m. Friday
We adhere to Connecticut's Financial Aid Code of Conduct.
The Federal Perkins Loan Program is coming to an end. Students who have received a Perkins Loan disbursement prior to 9/30/15 will have a grandfathering provision in place. More information to follow..