What is Financial Aid?

Classroom Financial aid is the assistance students can receive from federal, state, institutional and private sources to help pay for a college education. Financial aid usually falls into three categories: grants and scholarships (do not have to be repaid), student loans (must be repaid) and student employment. Mount Aloysius College uses information from the Free Application for Federal Student Aid (FAFSA) to determine financial need.

How Is Financial Need Determined?
To determine the need for financial aid at Mount Aloysius , students must file the Free Application for Federal Student Aid (FAFSA) with the federal processor. A student's cost of education is calculated by the college and includes:

tuition and fees
room and board
books and supplies
plus an allowance for miscellaneous expenses

Using the information reported on the FAFSA, the processor calculates the expected family contribution.

Determining a student's eligibility for aid involves three basic components:

COST OF EDUCATION - FAMILY CONTRIBUTION = NEED