Undergraduate Day Students

In determining aid packages for prospective undergraduate day students (including transfer applicants), Providence College distributes financial assistance based on a number of factors, including federal policy, institutional policy and the availability of resources.

Providence College uses Federal Methodology (FM) required by the Higher Education Act (1965), as amended, to determine a student's eligibility for all federal financial aid programs.  Using the information provided on the Free Application for Federal Student Aid (FAFSA) allows the college to distribute federal financial aid to eligible students in accordance with federal guidelines.

For institutional need-based aid, the college subscribes to the Institutional Methodology (IM); a more comprehensive analysis of a family's ability to contribute.  The information provided on the College Scholarship Service (CSS) Profile application allows the college to utilize a more systematic and objective measurement of a family's financial situation to determine the amount of financial assistance a family truly needs in order to successfully finance their student’s education.  Among the most common factors that are considered for the determination of the family contribution using IM are the inclusion of home equity and family owned business as an asset, the consideration of business and real estate losses, and the exclusion in number in college for household members in graduate school. 

Using both methodologies, the Office of Financial Aid constructs award packages consisting of work, loan, grant and scholarship.  Since resources are limited, and in order to give some aid to the maximum number of individuals who qualify, your demonstrated need may not be met in full and not all of the previously mentioned types of assistance will appear on your Financial Aid Notice. 

Furthermore, all awards are conditional and subject to verification of your financial aid application. If the financial information originally provided on your applications was based on estimated data or was incorrect, adjustments may be made to your file, which could result in a reevaluation of aid before or after your deposit is made.

Parental Contribution

Since the primary responsibility for the education of a student belongs to the individual and his or her parents (if applicable), it is presumed that the student and the family will make the maximum effort to provide for the expenses of an undergraduate education.  Should parents discontinue their support for reasons other than ability to pay, Providence College cannot assume parental responsibility for the student.  Financial aid from the college or other sources should always be considered a supplement and not a substitute for parental contributions.

Student Contribution

It is also presumed that the student will make the maximum effort to contribute towards their undergraduate education.  Similar to their parents (if applicable) , students income and assets are also taken into consideration in the needs analysis process and ultimately a family's overall contribution. 

Late Freshman/Transfer Applications

Funding will be subject to availability for those who do not comply with the published deadlines regardless of current need level in the first year.  However, in subsequent years applications can be considered on time if the renewal deadline is met.

Undergraduate Evening & Graduate Students

In determining aid packages for Graduate & SCE students, Providence College distributes financial assistance based on a number of factors, including federal policy, institutional policy and the availability of resources.

Providence College uses Federal Methodology (FM) required by the Higher Education Act (1965), as amended, to determine a student's eligibility for federal, state and institutional funding.  Using the information provided on the Free Application for Federal Student Aid (FAFSA) allows the college to distribute federal financial aid to eligible students in accordance with federal guidelines.  

The Office of Financial Aid constructs award packages consisting of loan and grant.  Since resources are limited, and in order to give some aid to the maximum number of individuals who qualify, your demonstrated need may not be met in full and not all of the previously mentioned types of assistance will appear on your Financial Aid Notice.  Further, all awards are conditional and subject to verification of your financial aid application. If the financial information originally provided on your application was based on estimated data or was incorrect, adjustments may be made to your file, which could result in a reevaluation after the start of classes.