October 15, 2009

Dear Parents,

Your son or daughter is now engaged in the exciting – and at times overwhelming – process of searching for the college or university that may be the right fit.  Never has the issue of affordability been more important in the decision making process than it is for this year’s high school seniors and their families.

Providence College has always sought to provide a balance of need-based financial assistance and merit scholarships to eligible students.  In fact, during the 2009-2010 academic year, we have committed over $43 million of our own resources to support our 3,830 undergraduate students.

Despite this long-standing commitment to financial assistance, we believe the current economic environment requires us to do more.  For students entering Providence College next September as members of our Class of 2014, we will be providing approximately $3 million in additional financial assistance.  These funds will be allocated for traditional need-based programs and to create new non need-based merit scholarships.

As a Catholic and Dominican institution, our priority in recent years has been focused on increasing need-based financial aid; however, it is increasingly clear that many families complete the need-based application process and find that they have limited or no eligibility for assistance.  Yet they look at their family finances and do not see the resources to pay for most or all of a private college education.  Our new merit scholarships intend to recognize students with excellent academic records and to recognize students who embody the spirit of the PC community through their leadership and involvement.

Prospective students are not required to complete a separate application, nor is it necessary to complete the financial aid application process to be considered for any merit-based awards.  The approximate range for the awards will be $3,000 to $14,000 per year, and they will be renewable for four years.  Providence College will continue to provide academic scholarships for all students invited into the Liberal Arts Honors Program.