Financial Aid Federal College Financing Plans
Federal College Financing Plans
Albertus Magnus College adheres to the State of Connecticut Public Act No. 13-95 by
sending the Federal College Financing Plan to all awarded students in an effort to
improve consumer disclosures and ensure that students make wise decisions when investing
in higher education. Albertus Magnus College also signed the Memorandum of Understanding
with the Department of Veterans Affairs which requires all prospective veteran students
receive the College Financing Plan. The College Financing Plan is a standardized form
that is designed to simplify the information distributed to current and prospective
students about costs and financial aid, and allows them to compare net institutional
costs so as to make informed decisions about where to attend school.
The College Financing Plan discloses and simplifies the Cost of Attendance and details
the College’s graduation rates, three-year federal cohort default rate, and median
borrowing with estimated repayment as compared to the national average. All students
are encouraged to apply for Financial Aid by completing the Free Application for Federal Student Aid (FAFSA) online. Once completed, students should contact the Financial Aid Office to find
out if additional documents are required.
First-time, full-time students who borrow at Albertus Magnus College typically take
out $30,255 in federal loans for their undergraduate study. The federal loan payment
over 10 years for this amount is approximately $348.18* per month. Your borrowing
may be different.
*All repayment estimates are based on total loan debt resulting from unsubsidized
loans with a 6.8% interest rate.
Albertus Magnus College’s draft FY 2017 Cohort Default Rate (CDR) is 5.7 and the FY
2018 CDR is 5.6.
Please note: The College Financing Plans provided are based on a full-time, on-campus
enrollment status. If you do not meet that enrollment status, please contact the Financial
Aid Office for the appropriate College Financing Plan.
Please refer to this College Financing Plan Glossary for more information on the terms used.
Apply for a customized College Financing Plan
Need Help Completing the College Financing Plan?
Please contact the Financial Aid Office with any questions, for more information,
or for help completing the College Financing Plan at (203) 773-8508 or email@example.com.
For information regarding Veteran benefit eligibility, please contact the Department
of Veteran's Affairs at (888) 442-4551 or online at www.va.gov. Students may also contact the Connecticut Veteran Affairs Regional Office at (800)
827-1000. After contacting the Department of Veteran's Affairs, please contact the
Albertus Magnus College Office of the Registrar at (203) 773-8514 to complete the
in-house certification process for your benefits.
Eligibility for Education Benefits
You may obtain information about education benefits for veterans from the Department of Veterans Affairs (888) 442-4551 or the Connecticut Veteran
Affairs Regional Office (800) 827-1000.
Once you have confirmed your eligibility, please contact the Office of the Registrar
(203) 773-8514 to complete the in-house certification process for your benefits.
Want to Know More?
You can learn more about College Financing Plans from the U.S. Department of Education.