Feb 06, 2023  
2022-2023 Undergraduate Catalogue 
    
2022-2023 Undergraduate Catalogue

FINANCIAL AID - UNDERGRADUATE


Financial Aid for Undergraduate Students

 

The primary responsibility for a student’s education belongs to the individual and his or her parents. Saint Anselm College assumes that the family will make the maximum effort to provide for the expenses of a Saint Anselm education. However, we recognize that meeting the cost of a quality private college education is a challenge for many students and families. In order to help students afford their Saint Anselm College education, the Office of Financial Aid 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 will create a partnership with the student and family. We offer a combination of scholarships, grants, loans, and work opportunities to students who exhibit financial need as well as merit scholarships to students who demonstrate high academic achievement and leadership. For students studying abroad on semester-long programs, institutional aid may be available based on an off-campus budget. Refer to “Students Living/Studying Abroad.” Students interested in learning more about our financial aid program should contact the Office of Financial Aid or the Office of Admission for our financing brochure or our consumer information brochure. These and other resources are available at www.anselm.edu/tuition-financial-aid.

Need-Based Financial Aid: Application Process and Information

Applicants wishing need-based aid must apply each year. Applying early is important to the process. In fact, students can apply as early as October 1 of each year because the required applications are based on tax data from two years ago.

The deadline for freshmen to complete the financial aid process is February 15. The priority deadline for transfer applicants to complete the process is April 15. All applicants for spring semester must complete the process by December 15. All returning students must complete the financial aid process by April 15; although, we will begin reviewing students before that so we encourage FAFSA submission prior to that date. Late applicants will see a reduction in their Saint Anselm College gift aid according to the date they complete the application after the deadline (5% per 30 days late).

Saint Anselm College encourages all students who are United States citizens or resident aliens to submit the Free Application for Federal Student Aid (FAFSA) in order to be considered for institutional need-based aid.  Students who first enrolled at Saint Anselm College prior to January 2022 were also required to complete the CSS Profile when first applying for need based aid. Incoming international students wishing need-based aid, need to complete the CSS Profile and submit an International Verification of Income. Continuing students wishing need-based aid should to complete the FAFSA. Depending on your family’s circumstances or messages on the Student Aid Report, we will ask for supplemental documents on an as needed basis

In addition to the FAFSA we may require supplemental documents such as federal taxes, W2s or other documentation. To protect personally identifiable information found on such documents, we ask applicants to upload those documents into our Anselmian Aid portal.

The following codes are required for the first time application process:

Saint Anselm College Code for FAFSA: 002587

Saint Anselm College Code for PROFILE: 3748 (international students)

We expect students and families to contribute to educational expenses and use a methodology to estimate a family’s ability to contribute to the education. Determining factors used include income, assets, family size, and number of dependent children in college. If a student’s parents are not married, we include a contribution of the parent (and, if remarried, the step-parent) with whom the student lives.  For students first enrolled at Saint Anselm College prior to Spring 2022, we also include a contribution of the non-custodial parent. When determining need-based aid, we consider both cost of attendance and family contribution.

Citizens of countries other than the United States applying for admission and financial aid must complete both application processes by February 15. Incoming students must complete the College Scholarship Service (CSS) Profile and submit a Certification of Finances verifying income and assets translated into English which projects four years of support for the student. International citizens are awarded aid and issued an I-20 based on an assumption of continued four-year support. Unless a returning international student experiences a significant change in resources, the student and the family will not need to complete the CSS Profile again. If a student does experience a cataclysmic change, contact the Office of Financial Aid.

Satisfactory Academic Progress

According to federal regulations and Saint Anselm College policy, students must make both qualitative and quantitative Satisfactory Academic Progress (SAP) to receive federal financial aid. The federal government requires that colleges monitor Satisfactory Academic Progress. For the purpose of determining financial aid eligibility, Saint Anselm College reviews SAP once a year after the spring term. Saint Anselm College will not replace lost federal or state funds with institutional aid for students who do not maintain SAP. Detailed information regarding SAP is provided on our web site and in our consumer information brochure (www.anselm.edu/tuition-financial-aid).

Non-Need-Based Aid: Scholarships, and Grants

Saint Anselm College offers many scholarships and grants based on a student’s academic achievement, demonstrated leadership skills, and/or other criteria. Students are considered for these renewable scholarships based on their admission application and, in some cases, their financial aid application.

Students may receive more than one non-need-based grant or scholarship not to exceed the cost of tuition by the amount designated by the year of entry. If the students applies for need-based aid the resources will be incorporated into the student’s need-based package according to institutional parameters

These grants are renewable annually provided the student maintains the Cumulative Grade Point Average (CGPA) and/or other criteria designated by each program. All merit and non-need-based grants will be offered for a maximum of eight semesters and will be incorporated into a financial aid package to help meet a family’s demonstrated need with some the exceptions such as a fifth year of athletic eligibility or a second BA.

Merit Scholarships: Saint Anselm College offers merit-based scholarships to eligible prospective students in each freshman class. These awards are renewable for four years at the original amount offered on the admission decision letter, assuming full-time enrollment and are subject to academic criteria for renewal. Some have tuition and room and board components. Details concerning the allocation will be found in your admission decision letter.

2022-2023 Scholarship Programs Scholarship Components Amount
Chancellor’s Scholarship Academic achievement in high school at the highest level; invitation to join the Honors Program; minimum 2.5 CGPA to maintain. $16,500-$30,000
Talent Achievement Award Academic and Co-curricular achievement in high school; CGPA designated on merit notification award letter. $3,000-$30,000
Presidential Scholarship Academic achievement in high school; minimum 2.2 CGPA to maintain. $12,000-$28,000

Dean’s Scholarship

Academic achievement in high school; minimum 2.2 CGPA to maintain. $10,500-$25,000
Abbey Scholarship Academic achievement in high school; minimum 2.0 CGPA to maintain. $9000-$22,000
Community Grant Academic achievement in high school; minimum 2.0 CGPA to maintain.

$3000-$20,000

Abp. Rummel Transfer Scholarship Academic achievement in college; range of 2.0 to 2.5 CGPA depending on level of scholarship to maintain

$9000-$25,000

The Family Grant:

A family with more than one child concurrently enrolled as matriculated full-time Saint Anselm students may be eligible for a Family Grant. Details regarding the grant and eligibility are found in the college’s current consumer information.

Saint Anselm College Need-Based Scholarships and Grants:

Saint Anselm College offers scholarships and grants to assist in meeting demonstrated need.  Many scholarships and grants offered by Saint Anselm College are funded in part by generous donations from alumni, corporate partners and friends of the college.  If your award is funded by a donor, we will notify you of the name of the scholarship and ask you to write a thank you note for College Advancement.  

The Federal Pell Grant:

Students apply for this grant by completing the FAFSA. This grant is based on the EFC. It is subject to Congressional Funding approval. In 2021-2022 Pell Grants range from $692 to $ 6,895.

Federal Supplemental Educational Opportunity Grant:

This grant is funded by the federal government and subject to Congressional Budget Approval. It is awarded by the College to students with exceptional financial need. Most often this grant accompanies the Pell Grant. Awards range from $200 to $2,000.

The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program:

This federal program provides grants of up to $4,000 per year to students who intend to teach in a public or private elementary or secondary school that serves students from low-income families. TEACH Grant recipients must agree to serve as a full-time teacher in a high-need field serving low-income students. Failure to complete the service requirement will result in the TEACH Grant converting to an Unsubsidized Stafford Loan with interest accruing from the date the grant(s) was disbursed. If you are interested in further information, please contact the Office of Financial Aid.

External Funding: Local Scholarships and Grant Awards:

We strongly urge students to apply for outside scholarships and grants available through the student’s home state, guidance counselors, the web, and local civic and business organizations. We support these efforts by allowing private scholarships to replace unmet need, then need-based self-help (loans and Federal Work Study). If the outside grant aid is in excess of these resources, we will then reduce need-based Saint Anselm College gift aid.

Saint Anselm is a matching partner in the Scholarship America (A.K.A Dollars for Scholars) Program. In order to receive the matching grant of up to $1,000, recipients must submit the completed Dollars for Scholars Matching Grant Request Form. We will not match outside loans, even if it comes through a Dollars for Scholars affiliate.

Loans

Federal Direct Loan:

Both subsidized and unsubsidized, these low-interest educational loans are offered to eligible domestic aid applicants in amounts according to year in college: $3,500 for freshmen, $4,500 for sophomores, $5,500 for juniors, and $5,500 for seniors. All students may receive an additional $2,000 of Unsubsidized Federal Direct Student Loan per year.

Federal Direct PLUS Loan (Parent Loan for Undergraduate Students):

This is a federally backed low-interest, fixed-rate loan to parents for up to the cost of a student’s attendance minus any other financial aid for which the student is eligible.

Student Employment

Federal Work Study (FWS):

This is a federally-funded program that offers students with demonstrated need, part-time employment to help meet the students’ incidental costs. Eligible students may work either on campus or at a FWS Community Service job off campus and are authorized to earn up to a specified amount; however, they are not guaranteed employment to that level.

Saint Anselm College Employment:

This program is funded by the College and is limited in scope. Employment is available in various departments.

Students Living / Studying Abroad

Study Away from Campus:

We encourage students to study in any of the Saint Anselm approved programs. Saint Anselm has two options: Tuscania, Italy and non-Anselmian study away with a pre-approved host institution/program. Students wishing to study in the Tuscania Program will pay tuition, the comprehensive fee and the study abroad fee and room. Students studying with a host institution will pay Saint Anselm College tuition, the comprehensive fee and the study abroad fee when studying on pre-approved semester-long programs. (Students enrolling in approved study abroad programs with a higher tuition cost than Saint Anselm’s will be responsible for the additional cost.)

Institutional aid will be portable based on a residential budget for Tuscania and an off-campus budget and pro-rated aid calculation for other study abroad programs. Students wishing to receive institutional financial aid must complete the full financial aid application by March 15  prior to the academic year they intend to study abroad. Most resources are portable (although the amounts applied on campus may differ based on the pro-ration). However, the following resources are intended for use at Saint Anselm: aid for resident assistant grants; athletic aid; debate and year-book scholarships; and any full-tuition remission scholarships from any of the tuition remission programs.

Tuition remission recipients may apply for need-based aid for study abroad by submitting all required documents by the March 15th deadline. All students must complete required paperwork to transfer their resources to the host institution and must meet with a member of the financial aid staff the semester prior to studying away from Saint Anselm.

Students Living Off Campus

An off-campus student is defined as one who lives off-campus (separate from family) in off-campus housing. The College will develop a budget based on data obtained from the College Board Living Expense Budget document The College aids off-campus students in two ways:

  • The Off-Campus budget - The College will create a budget for a student who chooses to live off campus which is based on a moderate Cost of Living figures in the geographic area as determined by the College Board.
  • Dismissal from Residence Life - A student dismissed from any Saint Anselm College residential facility by the Dean of Students Office will be ineligible for financial aid based on residential costs.

We recommend that any student wishing to move off campus meet with a financial aid administrator to discuss their situation. If a student can document costs above our cost of attendance, we will discuss financing options.

Second Degree-Seeking Students

Students who graduate from Saint Anselm who wish to enroll in a second BA/BS and receive financial aid should complete the financial aid application as they did for the first BA/BS. Students who are less than 24 years old and who do not meet any of the other criteria for independent financial aid must complete the FAFSA with a parent. 

Students will receive full-time aid with the same merit or other non-need-based aid offered in the senior year of the first BA/BS degree. Depending on the information produced from completing the FAFSA and submitting required documents, students will receive federal aid according to their eligibility.

Federal Aid:

Federal Direct Loan: students enrolling in a second BA may utilize the Federal Direct Loan according to federal undergraduate loan limits. For most students who utilized the loan for each of the four undergraduate years, that means they have $4,000 of remaining eligibility.

Federal Work Student: Eligible students may work under this program.

Federal Teach Grant: Eligible students may receive a TEACH Grant

Federal Pell Grant: High need students may not receive a Pell Grant for a second BA/BS.

Federal Supplemental Education Grant (SEOG): High need students may not receive SEOG funding for a second BA/BS.

Federal Direct PLUS Loan: Parents may apply for and receive a PLUS Loan for a second BA/BS.