Undergraduate Degree Program

Undergraduate Financial Aid

The Financial Aid Office's mission is to serve the student body, provide financial means, promote financial knowledge, and facilitate access to higher education. We help students finance their education by using a variety of sources:

  • scholarships
  • grants
  • loans
  • work study programs

Complete the FAFSA

Start the process by completing the Free Application for Federal Student Aid (FAFSA). Referring to a FAFSA Tutorial may answer any questions that arise while you complete the form.

Be sure to use the College's school code: 001374

Deadlines for Priority in Awarding Funds

  • First-time freshmen: March 15
  • Returning and transfer students: April 15

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 = Aid Offer

Whether you qualify or not for need-based financial aid as a freshman or transfer student, you may be eligible for the College's many merit and need-based scholarships and grants, awarded by our Office of Admission. To be considered, submit your application for admission and all supporting materials by April 15.

Albertus also has your long-term interests in mind and may award scholarships to returning students.

Loans

Loans to support your education will be credited to your balance when we receive the funds from the lender.

Federal Perkins Loan

When you demonstrate high financial need, this program provides a nine-month grace period after graduation before repayment must begin. Interest is fixed at 5%. A Master Promissory Note must be completed when you start school.

Federal Direct Subsidized Stafford Loan

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 3.86% but may be subject to change. While you remain in school, the government pays interest on all subsidized loans.

Federal Direct Unsubsidized Stafford Loan

You may qualify for this non-need-based federal loan. Interest is currently fixed at 5.41% 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.

Origination Fees

A 1.051% origination fee will be assessed on all Federal Direct Stafford Loan Disbursements whose first disbursement occurs on or after July 1, 2013. A 1.072% origination fee will be assessed on all Federal Direct Stafford Loan Disbursements whose first disbursement occurs on or after December 1, 2013.

Grants

Your demonstrated need may make you eligible to receive grant funds that do not require repayment.

Federal Pell Grant

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.

Federal Supplemental Education Opportunity Grant

Funded by the federal government and offered to students with the highest need, typically Pell Grant recipients.

Albertus Magnus College Grant

Awarded by the College's Financial Aid Office based on need.

Connecticut Governor's Scholarship Program Grant

Need-based award for Connecticut residents attending at least half-time who are working toward their first Bachelor's degree and who have an expected family contribution (EFC) less than $11,000, as determined by their FAFSA.

Albertus Magnus College Multiple Family Discount

Albertus offers a 10% discount on tuition for a second family member when two or more siblings attend simultaneously as full-time day students. Discount remains effective while both students maintain full-time day status.

Work Study

You 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. Each week, you may work an average of eight hours (but no more than 20 hours) each week during the academic year, or 35 hours per week during periods of non-enrollment, such as vacation breaks. Wages meet federal minimum-wage standards. The College pays work study students semi-monthly with a check made available in the Business Office.

Federal Community Service Work Study Program

You may earn funds by working off-campus at non-profit organizations that benefit the community by meeting the human, educational, environmental, and public safety needs of low-income individuals.

Satisfactory Academic Progress

All financial aid recipients must maintain satisfactory academic progress (SAP) in order to receive assistance. To be in good academic standing, full-time undergraduate students must meet the following minimum requirements:


Grade Level CGPA Percentile Credits Earned


Freshman
1.7 and 67%

Sophomore 
2.0 and 67%

Junior
2.0 and 67%

Senior
2.0 and 67%

Full-time students making SAP may receive financial aid for up to 12 semesters (six years) of full-time attendance, or until the student is certified for graduation by the College, whichever comes first. Part-time students making SAP may receive financial aid for up to 20 semesters (10 years) of part-time attendance, or until the student is certified for graduation by the College, whichever comes first. The timeframe may not exceed 150% of the published length of the program measured in credit hours attempted.

FAFSA School Code

When you complete the FAFSA, be sure to include the College's school code: 001374.

Office Hours

8:30 a.m. – 4:30 p.m. Monday
8:30 a.m. – 7 p.m. Tuesday-Thursday
8:30 a.m. – 4:30 p.m. Friday

Contact Us

Financial Aid Office
Aquinas Hall, Room 107
800-935-6621 toll-free
203-773-8508 local
203-773-8972 fax
financial_aid@albertus.edu

Calendar

April 15

FAFSA Deadline for Transfer Students

Code of Conduct

We adhere to Connecticut's Financial Aid Code of Conduct.