Office of Financial Aid
Location: 100 Ochre Court
Toll-Free: (888) GO-SALVE
Office: (401) 341-2901
Fax: (401) 341-2928
Email: financial_aid@salve.edu
Graduate Student Financial Aid
Academic Year 2009-2010
Graduate student financial aid at Salve Regina is available in the form of loans. Some employers may reimburse students for certain educational expenses. Veterans should contact the Veterans Administration for information on available benefits.
On this Web site, you will find links to other sites where you can research available outside scholarship opportunities. You will also find links to Web addresses and forms for the application process.
Eligibility for federal financial aid is limited to accepted students enrolled at least half-time in a degree or certificate-granting program. (Conditionally accepted students are eligible for a maximum of two semesters.) The information you provide on the Free Application for Federal Student Aid (FAFSA) will be used to verify other eligibility requirements, including citizenship status, selective service registration and loan history.
*Since each graduate student's financial aid is calculated based on the individual's unique schedule and charges, it is your responsibility to inform the Office of Financial Aid of any changes to your schedule for each enrollment period.
Cost of Attendance
For graduate students, the Cost of Attendance is based on each individual's course load. For this reason, loan eligibility is not calculated until the enrollment period begins. Each student has a budget based upon actual direct costs (tuition and fees). An estimated book allowance is also included. Students who are taking courses on-site are eligible for a modest allowance for living expenses, depending on course load. Students taking only online and/or self-paced classes are not eligible for living expenses.
Credit hours and course extension fees cannot be used for more than one enrollment period, and classes that are repeated are not eligible for additional financial aid.
Federal and Alternative Loans
Under normal circumstances, we do not process graduate PLUS loans, because our graduate-level expenses are not excessive. Graduate Stafford Loan limits are sufficient to cover educational costs.
Loans are processed at the end of each drop/add period. Funds may take up to three weeks to be received and posted to the student's account in the Business Office. Students who are enrolled in online and self-paced classes should contact the Office of Financial Aid for details on loan processing and disbursement. If you are expecting a refund for books and living expenses, please contact the Business Office.
Information on Alternative Loans
Alternative loans are also available for students. Repayment options tend to be much more limited than federal loans and, generally, have a higher variable interest rate. Repayment of these loans may be deferred, but interest continues to accrue during deferment. While these loans may be a viable option for bridging the gap, we recommend caution. A student who borrows under the federal loan programs will have a manageable amount of student loan debt upon graduation. If large alternative loan amounts are added to that debt, it may become extremely burdensome.
Click here for the alternative lender list.
Application Instructions for Federal Financial Aid
Federal financial aid applicants must complete and submit the following forms:
1. Free Application for Federal Student Aid (FAFSA)
2. The FAFSA must be filed for EACH academic year (July 1 - June 30)
- The federal school code for Salve Regina is 003411.
- This application must be filed after January 1, 2009.
- To complete your FAFSA online, log on to the Department of Education Web site at http://www.fafsa.ed.gov or use the link to FAFSA on the Web from this Web site.
- You may sign the FAFSA electronically, using a PIN number you receive from the Department of Education. You can apply for a PIN while completing a FAFSA on the Web application, or you can go to http://www.pin.ed.gov to apply. If you do not have a PIN number, be sure to print, sign and mail the signature page to the federal processor.
- The Department of Education may select you for a process called verification.
3. Verification Documents
The Department of Education selects approximately 30 percent of FAFSA filers for verification. Should you be selected for verification, you will be required to submit the following documents directly to the Office of Financial Aid. You may access the required forms from the links or from the form library on the Salve Regina Web site.
- A complete, signed 2009-2010 Verification Worksheet.
- A copy of your (and your spouse's) signed 2008 Federal Tax Return, including all schedules, or a signed Statement of Not Filing.
- Copies of all W-2's.
- Verification of any benefits or untaxed income received (i.e., Social Security, Child Support or AFDC/ADC).
- Additional information as necessary.
4. Loan Entrance Counseling Questionnaire
5. Federal Stafford Loans
When Your Financial Aid File is Complete:
You must inform the Office of Financial Aid before registering for each enrollment period. Acceptable notification must be in writing or via e-mail. Once all paperwork and forms are submitted, and you are registered for the acceptable amount of credits, your financial aid counselor will calculate your loan eligibility for that enrollment period and send an actual award letter after the drop/add period. It is important to review this award as soon as possible. If you wish to decline or reduce any loans, you must change the amount on your award letter and initial the change. If you do not inform the Office of Financial Aid of any change, we will process your loan(s) for the amount indicated on your award.
You must be registered at least half-time (4.5 credits) to be eligible for federal financial aid. (Doctoral candidates enrolled in the dissertation research and writing course qualify as at least half-time.) If you are taking a summer session along with fall/spring semester classes, please notify the Office of Financial Aid to determine your financial aid eligibility for summer classes. If your class schedule changes (withdrawing from or adding a class), you need to contact the Office of Financial Aid promptly.
Alternative Financing
Private alternative loans are available to students who do not meet the requirements for federal aid. Contact the Office of Financial Aid for details.
Of course, please do not hesitate to contact us with any questions you may have. We are located on the third floor of Ochre Court, Room 310.
Mail should be addressed to:
Salve Regina University
Office of Financial Aid
100 Ochre Point Avenue
Newport, RI 02840-4192
Our office hours are Monday-Friday, 8 a.m. to 5 p.m.
Office: (401) 341-2901
Fax: (401) 341-2928
E-mail: financial_aid@salve.edu
*Salve Regina University reserves the right to request additional information as necessary to determine the type and amount of financial aid awards. Awards are subject to the availability of funding and the regulations governing these funds.