Cost of Attendance includes direct costs for which you receive a billing
statement from the Business Office (tuition, fees and on-campus room and
board), and indirect costs not billed to you by the University (books,
supplies, personal expenses, transportation and off-campus room and board). The
difference between the Expected Family Contribution (EFC) and the Cost of
Attendance is your maximum eligibility for need-based assistance.
defined in the final divorce decree or the parent with whom you lived the
majority of time during the last 12 months.
Family Contribution (EFC)
eligibility for need-based financial aid has been determined according to federal
Department of Education regulations and University policies governing financial
aid programs. Using the information you provide on the Free Application for
Federal Student Aid (FAFSA) and other required documentation, the Office of
Financial Aid uses a resource known as the Expected Family Contribution (EFC),
which is defined as your family's financial strength and is used to determine
your eligibility for federal student aid during one school year.
grants are federally-funded student entitlements. Amounts can vary depending on
annual federal appropriations.
Perkins and Nursing Loans
loans generally have the best terms of all loans offered in your Salve Regina
financial aid package, and are awarded to students who demonstrate need.
Nursing loans are available only to eligible upperclass nursing majors. The federal
government subsidizes the 5 percent interest rate until repayment begins and repayment of these loans
is deferred until nine months after a student leaves school, leaves the nursing
program, or drops below half time. If you accept, you are required to complete
a master promissory note and disclosure statement before we can process and
disburse the loan.
Direct William D. Ford Loans
Federal Direct Loans are guaranteed student
loans. As long as a student is enrolled at least half-time during normal
enrollment periods, repayment of these loans is deferred until six months after
a student leaves school. Need-based Direct loans are subsidized, which means the government pays the
interest while the student is enrolled at least half-time. If a student does
not qualify for a need-based federal loan, unsubsidized
Direct loans are available. The student is responsible for the payment of
interest on these loans while in school, or interest can be deferred and added
to the principal of the loan. Limits for Federal Direct Loans are: Freshmen
$3,500, Sophomores $4,500, and Juniors and Seniors, $5,500. In addition to
these loan limits, an unsubsidized $2,000 Direct loan is available
Before we can process your initial Federal Direct Loan, you will need
to complete both the Direct Loan Entrance Counseling Questionnaire and the
Federal Direct Loan Master Promissory Note. You may use the links from the
Salve Regina Web site to complete both of these online forms.
Supplemental Educational Opportunity Grants (FSEOG)
grants are distributed by the Office of Financial Aid to students who are also
eligible for the Pell Grant.
Methodology is used by the federal government to compute your family
contribution to college expenses. Using FAFSA information, Federal Methodology is
our basis for awarding federal financial aid dollars. Because the formula is
standard, you can expect that your family contribution will be the same at all
of the schools to which you apply for financial assistance.
Federal Student Employment or Salve Regina Employment
Federal student employment will be awarded to students who have demonstrated federal need as
part of the self-help component of the financial aid package. Students who do
not qualify for federal student employment are eligible to apply for institutional
student employment. This money is not deducted from the bill, but is intended
for personal expenses such as books, transportation or laundry. Students are
given the opportunity to apply for available jobs through the Office of Career
Development when they arrive on campus.
Application for Federal Student Aid (FAFSA)
form provides colleges and universities with data to determine your family's
ability to contribute to your educational expenses. Be sure to use the student's Social Security
number when applying online. Salve Regina's federal school code (section
H) is 003411.
is defined as the balance between financial aid (merit, need-based, federal and
outside scholarships) and direct-billed charges. Salve Regina federal and
institutional financial aid dollars are limited. We do not guarantee to meet
your full financial need. As a result, there may be a gap between your federal
Expected Family Contribution (EFC) and the amount of our offered financial aid
package and the total cost of education.
Scholarships/Veteran and Employee Benefits
types of funding come from a variety of sources such as parents' employers,
local charitable organizations or hometown sponsors. We urge you to pursue
these awards by contacting your guidance counselor, visiting your library or
researching Web sites (see the outside scholarship page of our Web site for a
list of helpful sites). Veterans, or individuals on active duty, should contact the Veterans' Administration.
parent with whom the student does not reside.
Regina Academic Scholarships
scholarships are awarded through the admissions process, at the time of
acceptance and are based on specific criteria as outlined in the academic
scholarship section of the Web site. They are guaranteed for four years, as
long as the student maintains the specific criteria from one year to the next.
Regina University Grants
are need-based awards funded directly by the University. Eligibility is
determined from your current year FAFSA. Salve Regina
University Grants are prorated for students who are enrolled less than
full-time in their final semester. All other students must maintain full-time
status to remain eligible.
term is used to describe financial aid that a student must earn through federal student employment or loans borrowed in the student's name.
Students residing in
Vermont, New Hampshire, Maine, Pennsylvania, Rhode Island, Connecticut and
Massachusetts may be eligible. State grants are estimated until eligibility and
amounts are verified by the state granting the awards. Students who file the
FAFSA by the state deadline are automatically considered for these grants. The
state agency then notifies students of their potential eligibility.