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​Understanding Your Aid

Institutional  Sources of Assistance​

 

 

Merit-Based Scholarships

All merit-based awards are based on academic talent.  Scholarships are determined by the Office of Admission and a separate application is not required to apply. Examples of merit-based scholarships include: St. Dominic Scholarship, St. Thomas Aquinas Scholarship, St. Catherine of Siena Scholarship, PC Friar Scholarship, St. Rose Transfer Scholarship, St. Joseph Scholarship, and Albertus Magnus Scholarship.  Merit-based aid is guaranteed funding, provided you continue to meet the criteria outlined in the contract associated with the scholarship offer.  For more information visit our merit-based scholarship webpage.

Merit awards are offered only to freshman and transfer students at the time of admission.  If you do not receive a merit scholarship as a freshman, you are not eligible to receive one in subsequent years as returning student. In addition, if a student receives another source of funding that is designated solely for tuition, a merit-based award may be reduced since the combined total of these sources cannot exceed the tuition charge as determined on an annual basis.  Please note, if you are offered a merit scholarship after you have received an initial offer of assistance, the additional award could reduce your need-based offer, not supplement it. 

 

Athletic-Based Scholarships

All athletic-based grants are based upon a student’s athletic ability and talent prior to and during attendance at the College.  Decisions about awards, amounts and renewability are determined by the head coach and the Athletic Department.  For scholarship specifics, please refer to your National Letter of Intent (NLI).  While this source of funding is based upon athletic talent, it could impact other need-based eligibility.  If you are offered an athletic scholarship after you have received an initial offer of assistance, the additional athletic award could reduce your original need-based offer, not supplement it. 

 

Need-Based Grants

All need-based awards are calculated by the Office of Financial Aid using the information provided to us on your FAFSA and CSS PROFILE (see How we calculate your institutional EFC).  Examples of need-based institutional funding include: scholarships in our donor program, Providence College Grant, Friar Grant, O’Connell Grant, Cunningham Scholarship and Martin Luther King Scholarship.  All need-based financial assistance at Providence College is renewable for all four undergraduate years provided a student adheres to published dates and deadlines, remains in good academic standing, and continues to demonstrate similar financial need each year. 

 

Donor Scholarships

Donor Scholarships are need-based, and scholarship recipients are selected by the Office of Financial Aid.  While a student may be selected as a recipient for a donor scholarship, the funds will be used to replace and not supplement the original institutional grant awarded, since maximum institutional assistance was determined during our initial review. A separate application is not necessary, and all eligible students are considered for these funds.  Visit our Institutional Donor Endowed webpage for more information. 

 

Providence College Family Grants

Family Grants are available when two or more immediate family members attend the College at the same time as undergraduate students. The younger student(s) receives a grant of $1,000 that is applied towards tuition. If the younger family member is already receiving institutional money covering tuition in full, the Family Grant will be given to the older sibling, provided they are not receiving a full tuition scholarship/grant from Providence College. If you feel you are eligible for this grant and it is not reflected on your award, please contact our office.

 

Federal Sources of Assistance

 

Federal Pell and SEOG

Federal Pell and SEOG (Supplemental Educational Opportunity Grant) are forms of need-based assistance offered by the U.S Department of Education that do not have to be repaid.  For more information please visit our Federal Pell and SEOG webpage or visit  Federal Student Aid.  Along the top of the page select ‘Types of Aid.’  A drop down menu will appear; under ‘Grants and Scholarships’ select Pell and SEOG.

 

Federal Work Study (FWS)

FWS affords students the opportunity to earn funds throughout the academic year to support some of their educational-related expenses.  Since this money is earned incrementally over the course of the academic year based on hours worked, the total FWS funding that appears on your award letter is not applied as a payment on your bill.

Freshman and new transfer students who have been awarded FWS will be sent an email with additional information regarding the job search process mid-August.  The job search process is competitive and students are responsible for securing their own employment.  If you are offered FWS it does not guarantee you a job or the same job each year.

If you secure a job on campus you will need to provide two original forms of identification before you begin working – copies are not accepted.  Visit our On Campus Employment webpage for more information. 

 

William D. Ford Federal Direct Stafford

The U.S. Department of Education has created this program specifically for students who are attending postsecondary institutions. Colleges are responsible for determining eligibility using the FAFSA and current federal regulations.  This loan program is dually administered by the Office of Financial Aid and the Student Loan Office.  You will receive communications from both departments regarding this loan program.  Visit our William D. Ford Federal Direct Stafford Loan webpage or  the ‘Types of Aid’ section at Federal Student Aid for information about interest rates, required paperwork, origination fee, and maximum thresholds. 

 

Perkins Loan Program

The U.S. Department of Education has created this program specifically for high need students who are attending postsecondary institutions.  Colleges are responsible for determining eligibility using the FAFSA and current federal regulations.  Each college receives a limited pool of funds from the government; therefore, not every student may be awarded this funding.  This loan program is dually administered by the Office of Financial Aid and the Student Loan Office.  You will receive communications from both departments regarding this loan program.  Visit  our Perkins webpage or the ‘Types of Aid’ section at Federal Student Aid for information about interest rates, required paperwork, origination fee, and maximum thresholds. 

 

Other Sources of Assistance 

  

State Grants

It is possible that state grants may not appear on your offer of assistance.  While many state agencies begin notifying you in the spring, that information may not reach us until the summer months.

Please keep in mind when/if you receive a state grant award, agencies often determine eligibility without information from the school (i.e. final enrollment, other sources of assistance and final tax review).  Therefore, it is possible your original state grant offer could change once we communicate that information back to your state agency.  This review typically takes place during the month of September. 

 

Outside Scholarships

If an outside scholarship or tuition benefit was reported to us on the CSS PROFILE, this information was included and accounted for in your need-based award.  If the amount reported on your application was overstated, overestimated or made in error, please let us know via email at finaid@providence.edu.  

Notification of awards and scholarships from high schools, agencies, parent employers, etc., are typically made during the months of March and April.  If you receive a scholarship notice, you must notify us as soon as possible, since we may need to adjust our original offer. Keep in mind that federal regulations stipulate that outside scholarship(s) cannot be used to reduce your family contribution, nor can a family receive need-based funding in excess of their calculated institutional need or eligibility.  Visit our Outside Scholarship webpage  for information, scholarship search tips, and how the College may adjust your aid when an outside resources is received.

 

 

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