Financial Aid Programs
Albertus Magnus College participates in all federal and state financial aid programs and provides institutional funding to assist eligible students with their out of pocket expenses. The Financial Aid Office awards you the maximum amount available from each funding source, within federal, state, and College regulations, without exceeding financial need. Please note that eligibility for any estimated funding included in your Estimated Financial Aid Offer must be confirmed based on federal, state, and institutional eligibility requirements prior to being finalized. View current fund descriptions for the awards below on the “Fund Description” page of Net Partner, Financial Aid Office, or myAlbertus portal.
The Albertus Guarantee
Receive a minimum of $40,000 in scholarships. Guaranteed.
First-Year Student Merit Awards
Merit Awards are awarded to students of exceptional academic promise:
|Presidential Scholarship $23,000 - $24,000|
|Mohun Scholarship $20,000 - $22,000|
|Devaney Scholarship $16,000 - $19,000|
|St. Thomas Aquinas Scholarship $12,000 - $15,000|
|Promise Award $10,000 - $11,000|
Students may receive these awards in addition to the merit scholarships above:
St. Catherine of Siena Award $3,000
Awarded to graduates of Catholic high schools, Catholic college preparatory schools, or Catholic colleges or universities.
Residential Award $3,000
Awarded to new First Year and Transfer students who reside on campus.
Legacy Award $1,000
Awarded to the children, step-children, and grandchildren of Albertus Magnus alumni.
The Catherine DeRicci Honors Program Award $2,000
To be awarded to students who have been invited to join and agree to participate in the Albertus Magnus Honors Program.
The Pillar Award $1,000
Awarded to accepted transfer students that provide documentation of Phi Theta Kappa membership.
Falcon Flight Reward Program up to $2,000
A one-time award provided to incoming 2023-2024 traditional undergraduate students who meet specific application deadline criteria.
St. Dominic Award $1,000 - $3,000
For the St. Dominic Award, accepted students may be awarded $1,000 per extracurricular activity listed below (with a maximum of $3,000 awarded). For the scholarship to be awarded, students must provide documentation and/or interview to verify involvement in each activity and agree to participate in a similar activity at Albertus Magnus College. Once a student applies, please submit the St. Dominic form to be considered for this award.
*This scholarship may or may not increase your net Financial Aid award. For questions, speak to your financial aid counselor at (203) 773-8508.
For merit award purposes, transfer students are defined as having completed more than 15 credits at another institution. A transfer student may be eligible for a transfer scholarship ranging from $5,000 to $16,500.
Grants & Scholarships
A non-need based fund awarded by the College's Financial Aid Office.
Awarded by the College's Financial Aid Office based on demonstrated need.
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.
Bartolomé century Dominican historian and social reformer who defended the rights of indigenous people and advocated for humane colonization policies. He is considered to be one of the first human rights advocates. This Bartolomé de las Casas Scholarship (up to $500) is awarded to the spouse or child of a service member or veteran who is new to Albertus and pursuing an undergraduate degree. A stepchild or adopted child is also eligible. The applicant must provide a copy of the DD214 or DD220 Member-4 Page. This scholarship is applied to tuition and fees and books and supplies only. The Bartolomé de las Casas Scholarship is annually renewable for recipients who maintain Satisfactory Academic Progress and who remain enrolled full-time at Albertus. For more information, please contact the Financial Aid Office at (203) 773-8508.
The Connecticut Minority Teacher Incentive Program (MTIP) provides grants and college loan payment stipends to Connecticut minority group members who are enrolled undergraduates in teacher preparation programs as full-time students. Students must be nominated for MTIP, which is to be completed by the Director of Education Programs at Albertus Magnus College and complete Section A of the nomination form by October 15th. MTIP loan stipend applications must also include proof of loans and graduation to the Office of Higher Education and begin teaching in an accredited Connecticut public elementary or secondary school within 16 months of graduation, and work full-time at least 9 months in the same academic year. The form is then submitted to the Office of Higher Education.
(up to $1000)
The Federal Pell Grant Program provides need-based grants to low-income undergraduates to promote access to postsecondary education. The application for a Pell Grant is the Free Application for Federal Student Aid (FAFSA), but eligible students must complete all required missing documents to receive the grant. Pell Grant awards are based on the 9-month Expected Family Contribution (EFC) on the student’s valid FAFSA, the academic year structure, and the Cost of Attendance (COA) for a full-time student for a full academic year. To receive a Pell Grant, a student must meet the general eligibility requirements for Title IV aid.
The Federal Supplemental Educational Opportunity Grant (FSEOG) Program provides assistance to exceptionally needy undergraduate students, matriculated in a degree seeking program attending at least half- time. Application for FSEOG is through the completion of the Free Application for Federal Student Aid (FAFSA). Students are exceptionally needy if they have the lowest Expected Family Contributions (EFC). The FSEOG first selection group of recipients includes Federal Pell Grant recipients.
Francisco de Vitoria was a Dominican theologian known for his work on human rights and the importance of peacemaking and conciliation. He is considered to be a defender of the oppressed. The Francisco de Vitoria Scholarship is awarded to an undergraduate student who is an honorably discharged or under honorable conditions veteran. The student must provide proof of honorable discharge such as a copy of the DD214 Member-4 Page. This scholarship (up to $500) is applied to tuition and fees and books and supplies only. The Francisco de Vitoria Scholarship is annually renewable for recipients who maintain Satisfactory Academic Progress and who remain enrolled full-time at Albertus. For more information, please contact the Financial Aid Office at (203) 773-8508.
The Connecticut Gaining Early Awareness and Readiness for Undergraduate Programs (GEAR-UP III) grant is given to undergraduate students enrolled at least half-time and matriculated in a degree-seeking program. Students must be under the age of 22 when they receive their first scholarship and must have been enrolled in one of the eligible GEAR-UP III school systems to qualify for a GEAR-UP III award. Application for GEAR-UP III is through the completion of the Free Application for the Federal Student Aid (FAFSA).
The Iraq and Afghanistan Service Grant (IASG) is given to an otherwise Pell-eligible student whose parent or guardian died as a result of U.S. military service in Iraq or Afghanistan after September 11, 2011 if at the time of the parent or guardian’s death, the student was either less than 24 years old or was enrolled at an institution of higher education. The application for IASG is the Free Application for Federal Student Aid (FAFSA), but eligible students must complete all required missing documents to receive the grant. To receive IASG, a student must meet the general eligibility requirements for Title IV aid.
The Connecticut Roberta B. Willis Scholarship Program Need-Merit-Based Scholarship (RWSP Merit) is for high school seniors who rank in the 20th percentile of their high school junior year class, or college undergraduates who ranked in the top 20th percentile of their high school senior year class and/or have a combined score on the Scholastic Aptitude Test (SAT) of 1200 or higher or an American College Testing (ACT) score of 25 or higher. Students must meet with their high school guidance counselors to complete and submit an electronic application to the Office of Higher Education by February 15th. Additionally, new applicants must submit a Free Application for Federal Student Aid (FAFSA) by February 15th and renewing students must submit a FAFSA by April 30th. The Office of Higher Education submits a list of the recipients to the College.
The Connecticut Roberta B. Willis Scholarship Program Need-Based Grant (RWSP) is given to Connecticut residents who are undergraduate students enrolled at least half-time and matriculated in a degree-seeking program. Application for RWSP is through the completion of Free Application for the Federal Student Aid (FAFSA). Students receiving a Connecticut Roberta B. Willis Scholarship Program Need-Merit Scholarship award are ineligible to receive the RWSP Need-Based Grant.
The Federal Work-Study (FWS) Program is a federally funded work program that provides on-campus positions for part-time employment to eligible students with significant financial need.
The William D. Ford Federal Direct Stafford Loan Program is awarded to students who have not met their annual loan limit, who have unmet needs, and who have not met their Cost of Attendance (COA). A 1.057% origination fee will be assessed on all Federal Direct Stafford Loan Disbursements whose first disbursement occurs on or after 10/1/2022. Federal Direct Undergraduate Subsidized and Unsubsidized Loans have a 4.99% interest rate in 2022-2023. 2023-2024 interest rates should be published by the Department of Education late spring.
The William D. Ford Federal Direct Parent PLUS Loan Program (PLUS) is an unsubsidized loan for parents of dependent students. To be considered eligible, the borrower must be the student’s biological parent, adoptive parent, or stepparent. A 4.228% origination fee will be assessed on all Federal Direct PLUS Loan Disbursements whose first disbursement occurs on or after 10/1/2022. Federal Direct Parent PLUS Loans have a 6.54% interest rate in 2022-2023. 2023-2024 interest rates should be published by the Department of Education mid-spring.
Alternative Financing Options
The Albertus Magnus College Financial Aid Office encourages students to apply for outside scholarships to help reduce the amount of their out of pocket for tuition and fees and reduce the amount of student loans borrowed. In addition to outside scholarships, some families may choose to pursue additional federal and/or private loans. These loans are credit-based and may require a co-signer. Please note that the credit check can expire, so timely applications are needed.
If you have questions or need assistance determining what options are best for you and your family, contact us to schedule an appointment to meet with a Financial Aid Office counselor.
The Financial Aid Office has compiled a list of all current outside scholarships, which can be found on the “Outside Scholarships” Net Partner page.
The Falcon Advantage Ardeo Education Solutions
Albertus Magnus College has partnered with The Falcon Advantage Ardeo Education Solutions - formerly The Falcon Advantage Loan Repayment Assistance Program (LRAP) Association - which can provide reimbursement for payments made toward repaying your educational loans after graduation.
Students who utilize The Falcon Advantage Ardeo Education Solutions must enroll and graduate from Albertus Magnus College and, upon graduation, must begin working and start making loan payments. If the student’s annual income is less than $45,000 after graduation, The Falcon Advantage Ardeo Education Solutions can help repay federal, private, and Parent PLUS loan payments.
Tuition Assistant Monthly Payment Plan
The College offers a monthly payment plan that allows you to make convenient interest-free monthly payments through Tuition Assistant. Payment plans run from June-October for the Fall semester and November-March for the Spring semester. Payments are processed on the 20th of each month. Please contact the Bursar’s Office at (203) 786-3025 for additional payment plan information.
You may choose to pay for all or part of your education with loans from private lenders. Visit www.elmselect.com to view a three-year historical list of preferred lenders or visit the Financial Aid website page for consumer information regarding alternative loan financing.