Financial Aid

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/award-information.

Need-Based Financial Aid: Application Process and Information

Applicants need to apply each year; applying early is important to the process.

The deadline for freshmen to complete the financial aid process is March 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. 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 requires that all aid applicants wishing both federal and need-based institutional aid who are United States citizens or resident aliens submit the Free Application for Federal Student Aid (FAFSA) and the CSS PROFILE form (a fee based application). Applicants wishing federal aid and if they qualify merit or non-need based aid may complete the FAFSA alone.  Any student wishing to use federal aid alone should notify the Office of Financial Aid in writing.

Applicants wishing federal and institutional need-based aid should complete both forms on line at www.fafsa.ed.gov for the FAFSA and www.collegeboard.com for the PROFILE. In addition to the FAFSA and PROFILE, we require complete, federal tax returns with all pages, schedules and W2s from all aid applicants and their parents. We ask students to mail completed tax forms to the College Board IDOC program with their cover sheet (provided in an email with a link from the College Board).

The following codes are required for the application process:

• Saint Anselm College Code for FAFSA: 002587
• Saint Anselm College Code for PROFILE: 3748

We calculate an applicant’s need-based financial aid eligibility by subtracting the Expected Family Contribution (EFC), as institutionally determined on the PROFILE and federally determined on the applicant’s Student Aid Report (SAR), from college costs. We use a methodology that estimates both the applicant’s and parents’ ability to contribute to educational expenses based on income, assets, family size, and number of children in college (if an applicant is a dependent student). If the applicant’s parents are divorced or separated, we include the expected contribution of the custodial parent (and, if remarried, the step-parent) with whom you live. The non-custodial parent must complete a Non-Custodial Parent Form in the first year.

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 Verification of 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/award-information).

Non-Need-Based Aid: Scholarships, Grants, and Awards

Saint Anselm College offers many scholarships and awards that are 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.

With the exception of an athletic scholarship, a student who accepts a merit scholarship or other non-need-based award is ineligible for all other non-need-based programs the College offers unless their demonstrated financial need exceeds the award. These awards 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 awards will be offered for a maximum of four years and will be incorporated into a financial aid package to help meet a family’s demonstrated need.

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 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.

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 financial aid brochure for prospective students.

Athletic Scholarships:

Ten full athletic scholarships are awarded to men and women basketball players only. The Director of Athletics will submit the names of possible recipients to the Office of Financial Aid, which will inform students of awards. Other designated recipients may receive partial scholarships depending on the sport and will be determined by the coach and the Athletic Scholarship Committee. All athletic scholarship recipients are subject to NCAA rules for renewal.

Saint Anselm College Need-Based Scholarships and Grants:

Saint Anselm College awards 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 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 not for College Advancement.  

Federal, State, and Local Scholarships and Grants

Note: Given the fiscal challenges facing the nation, federal and state grants may be subject to a change in income guidelines. Assuming that the student has completed all applications in a timely fashion, the Office of Financial Aid will assist students to cover changes imposed by the governmental bodies.

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 2013-2014 awards ranged from $605 to $5,730.

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 $4,000.

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.

State Scholarships and Grants:

Grants are available to students with need and may be portable from Vermont, Rhode Island and Connecticut, Maryland, Pennsylvania and D.C. We require students to apply for state funds, when available by the required state deadlines. We estimate state grant aid and calculate eligibility accordingly. Assuming that the aid applicant has completed all of the required documents of the state in a timely fashion, receipt of a scholarship in excess of our estimate will be offset by a reduction in Saint Anselm College gift aid. A lower scholarship will result in an increase to institutional grant.

Local Scholarships and Grant Awards:

We strongly urge students to apply for outside scholarships available through 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, 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 Stafford Loan:

Both subsidized and unsubsidized, these low-interest educational loans are awarded to all 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 Stafford per award year.

Perkins Loan:

Saint Anselm administers a limited number of loans to students with exceptional need. Students may receive up to $5,500 of Perkins Loan per year. The interest rate on this loan is 5%.

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

Students wishing to study abroad in a college-approved program will be charged Saint Anselm tuition and a study abroad fee. Their financial aid (with the exception of tuition remission; international aid; athletic scholarship; debate scholarship and resident assistant grants) will travel with the student at the Off-Campus Award, Students must complete all aspects of the study abroad and financial aid applications according to specifications listed on the website.

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 create a budget for a student who chooses to live off campus. 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 includes 50% of the indirect cost associated with on-campus living, (Room and Board for a traditional residence hall and a standard meal plan). Students receiving awards with both tuition and a room and board component (Presidential, Talent Achievement, etc.) will lose the part of the scholarship designed to cover room and board costs.
• 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.