Providence College Grants
For institutional need-based aid, the college subscribes to the Institutional Methodology (IM) which is 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.
All institutional need-based grant monies are awarded to undergraduate students on the basis of financial need. An example of need-based institutional funding would be Providence College Grants.
Students must reapply for need-based financial assistance each year by renewing only the FAFSA. All need-based financial assistance at Providence College is renewable for all four undergraduate years provided a student remains in good academic standing and continues to demonstrate similar financial need each year.
Depending upon your calculated need in subsequent years, your aid award may vary. The principle factors used in computing your need are the same every year. These factors include such things as family income, assets, household size and number of family members in college. The award that you receive for your first year usually provides a rough indication of the level and type of aid that you may expect to receive in subsequent years if you continue to demonstrate similar financial need.
Family Grants are available when two or more immediate family members attend the college at the same time in the undergraduate program. The tuition of the younger student(s) is reduced by $1,000. Effective July 2007, if the younger family member is already receiving institutional money covering tuition in full then the Family Grant would be given to the older sibling provided they are not receiving a full tuition scholarship/grant from Providence College.