Financial Aid

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student-artMount Aloysius College awards more than nine million dollars (all aid sources) of financial aid assistance each year.

Mount Aloysius College realizes the cost to attend college can be a financial challenge for students and their families. At the College, we maintain tuition at competitive levels.

  • Mount Aloysius College offers financial aid to ninety four percent of our students.
  • The average student aid package is nearly $10,000.
  • Mount Aloysius College awards more than $5 million each year in scholarships.
  • Mount Aloysius College has more than 60 endowed scholarships.
  • Many Mount Aloysius College students receive federal work-study.

Mount Aloysius is Surprisingly Affordable, With Generous Financial Aid and Scholarships

A high quality private college education is within your reach.

Tuition cost and room and board at Mount Aloysius is more than reasonable. While most private college in the United States have become extremely expensive – Mount Aloysius College remains in the top five (5) percent for excellent price and affordability. More than 94% of students receive some form of financial aid, scholarships and grants. Talk to our counselors about the many sources of financial aid available.

 

General Financial Aid

How to Apply for Financial Aid

To apply for financial aid, complete a Free Application for Federal Student Aid, or FAFSA, as soon after January 1 as possible. Mount Aloysius College priority FAFSA deadline is April 1 each year. The Financial Aid Office strongly suggests you and your parents (if applicable) have your Federal Income taxes completed before you file your FAFSA. ***Those students who submit their FAFSA to the federal processor by April 1st will be entered into a drawing for a $1,000 tuition scholarship. Two scholarships will be awarded each year. One will be given to a new, full-time student and one to a returning, full-time student.

The FAFSA may be filed online. FAFSA worksheets are available at the Financial Aid Office, FAFSA website or your high school guidance office. (Our FAFSA code is 003302.) Each year you will need to file a new FAFSA while attending Mount Aloysius.

To apply for the PHEAA State Grant, complete and submit your Free Application for Federal Student Aid by the May 1 deadline.

Remember, Mount Aloysius College has a preferred/priority deadline of April 1. We recommend that all students apply for financial aid as early as possible, so that we can consider your eligibility for available funds.

For more information, contact the Financial Aid Office at 814.886.6357 or toll free 1.888.823.2220.

What is Financial Aid?

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 attendance is calculated by the college and includes:

  • tuition and fees
  • room and board
  • books and supplies
  • plus an allowance for miscellaneous expenses (daycare, transportation, etc.)

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 ATTENDANCE – FAMILY CONTRIBUTION = NEED

Am I Eligible for Federal Aid?

Eligibility for federal student aid is based on financial need and on several other factors. To receive federal aid, you must:

  • Demonstrate financial need (except for certain loans).
  • Have a high school diploma or a General Education Development (GED) certificate or complete a high school education in a home school setting that is treated as such under state law.
  • Be working toward a degree in an eligible program.
  • Be a U.S. citizen or eligible non citizen.
  • Have a valid Social Security Number (unless you’re from the Republic of the Marshall Islands, the Federated States of Micronesia, or the Republic of Palau).
  • Register with the Selective Service if required.
  • Maintain satisfactory academic progress once in school.
  • Certify that you are not in default on a federal student loan and do not owe money on a federal student grant.
  • Certify that you will use federal student aid only for educational purposes.
  • Have not met the aggregate limits for Pell grants and student loans.

The Higher Education Act of 1965 as amended (HEA) suspends aid eligibility for students who have been convicted under federal or state law of the sale or possession of drugs, if the offense occurred during a period of enrollment for which the student was receiving federal student aid (grants, loans, and/or work-study). If you have a conviction(s) for these offenses, call the Federal Student Aid Information Center at 1-800-4-FED-AID (1-800-433-3243).

Even if you are ineligible for federal aid, you should complete the FAFSA because you may be eligible for non-federal aid from states and private institutions. If you regain eligibility during the award year, notify the Financial Aid Office immediately. If you are convicted of a drug-related offense after you submit the FAFSA, you might lose eligibility for federal student aid, and you might be liable for returning any financial aid you received during a period of ineligibility.

How and when will I receive my Financial Aid?

The school will credit your grants to your school account at least once per semester.

  • Perkins and Nursing Loans will be disbursed onto your school account each semester shortly after an entrance interview is completed.
  • Direct Stafford Loans will be disbursed onto your school account each semester after eligibility is reviewed. If you are a first-year undergraduate student and a first time borrower, your first disbursement can’t be made until 30 days after the first day of your enrollment period.
  • Direct Parent and Direct Grad Plus loans will be disbursed onto your school account each semester after eligibility is reviewed.
  • Work-study money earned is paid directly to the student bi-weekly by check.

Note: No financial aid is released to a student’s account until all requested financial aid paperwork is complete, including but not limited to a signed award letter, verification, and entrance interview paperwork.

View the Funding Your Education Guide as a PDF.

Admissions & Financial Aid Timeline

January/September

Sophomore Year to Rising Senior Status

  • Visit campus/attend an open house
  • Collect admissions facts and publications

September/October

Seniors

  • Submit a Mount Aloysius College admissions application (Include SAT/ACT scores, transcripts, etc.)
  • Submit SAT/ACT scores and QPA for pre-award estimate
  • Attend an open house

November/December

  • Receive letter of admissibility
  • Receive pre-award information
  • Student and parent (if applicable) should apply for PIN # at www.pin.ed.gov
  • Early deposit deadline for Nursing and Health majors

January/February

  • Nursing and Health Studies majors encouraged to have applications in by January 1
  • Nursing majors encouraged to pay deposits and commit to attend in the fall
  • Submit tax information and complete FAFSA form (Call the Office of Financial Aid and Scholarships if you need assistance)
  • Mercy Presidential Scholarship deadline is February 28

March/April/May

  • Vox Nova (Choir) reception (Scholarship Funded)
  • Official financial aid award released
  • Attend accepted student day in March or re-visit MAC with your family
  • Priority FAFSA deadline is April 1
  • If you are selected for verification please send the following:
    • a. Obtain an IRS tax TRANSCRIPT for both the student and parents from the IRS or use the IRS Data retrieval tool through your FAFSA form
    • b. completed verification worksheet (Call the Office of Financial Aid and Scholarships with questions)
    • c. Copies of all W-2′s
  • Pay tuition deposit by April 1 – Refundable until May 1 for students who deposit on time (This guarantees your place in the new class)
  • Housing is guaranteed until April 1

June/July

  • Receive final award letters
  • Submit final transcripts
  • Apply for student and alternative loans
  • Receive bill
  • Call Controller’s Office for assistance in determining bill or payment plans

Frequently Asked Questions

What is the Federal School Code for Mount Aloysius College?

003302

How do I know where I’m supposed to work for the Federal Work-Study Program?

It is your responsibility to review the on and off campus Federal Work-Study job listings and contact the supervisor of the site at which you wish to work to inquire about a job. If a position is open, you will need to schedule and interview with the supervisor and have him/her sign your Employment Application. You will not be assigned to a job.

How do I know if a Federal Work-Study site still has positions open?

You will need to contact the supervisor of the site and inquire if their positions have been filled.

I had FWS last year, however this year I was not awarded it. Why didn’t I get work-study?

There are several reasons why you may not receive Federal Work-Study from year to year. The reason could range from when you filed your FAFSA to funding levels or even other aid sources you received. Contact the Financial Aid Office regarding your specific situation.

What types of identification are acceptable to complete my I-9 form for work-study?

Two forms of identification must be produced to complete the form. A valid driver’s license and social security card are normally the documents students’ produce to complete the I-9 form. However, there are several other document that can be accepted. Contact the Financial Aid Office if you unable to use both the driver’s license and social security card.

I’ve completed all of my Federal Work-Study paperwork for the semester. Now what do I do?

Once Federal Work-Study paperwork is complete, you will receive a postcard in the mail a few weeks before the semester begins. This postcard will confirm your work-study site, your supervisor and the number of hours you’ve been awarded. It is your responsibility to contact your supervisor the first week of classes to set up a schedule and begin working.

I wasn’t awarded work-study but would like to participate. How can I get a Federal Work-Study job?

If funding allows, the Financial Aid Office will have a sign up sheet the first day of classes that you may sign to indicate your interest. The Financial Aid Office will then check your eligibility and contact you if you’re eligible. Additional Federal Work-Study money, if available, is only awarded out during the beginning of each semester.  There is no guarantee that work-study sign ups will be held each semester.

Is the Federal Work-Study deducted from my tuition bill?

No. You will receive a paycheck every two weeks for the hours you have worked.

How do I calculate how much to take out in the Direct Parent Plus Loan?

Once you receive the Financial Aid Award Letter, contact the Controller’s Office to determine the amount needed to cover the bill for the entire academic year.

My parents believe they will not be eligible for a Direct Parent Plus Loan due to adverse credit…now what?

Parents should still complete a Direct Plus Loan Pre-qualification form and submit it to the Financial Aid Office so an official determination can be made.  If the loan is denied additional unsubsidized money can be processed for the student.  A parent can also contact the Department of Education to appeal the credit decision or opt to use an endorser to try and obtain the loan.

My parent has been approved for the Direct Parent Plus Loan, when does repayment begin?

Repayment of the Parent Plus Loan begins 60 days after the loan is fully disbursed. There is no grace period for these loans. This means interest begins to accumulate at the time the first disbursement is made.

Can my parents defer repayment of their Direct Plus Loan?

Yes. The parent will need to contact the Department of Education to find out how to defer the payment. However, interest will accrue on the loan while in deferment.

What if my parent’s income will be less in the year to come, than what was used on the FAFSA that we filed?

A: If there is a reduction of income (taxable or non-taxable), unusual medical/dental expenses, elementary and secondary tuition, and dependent care expenses, your family should complete the Special Consideration Forms for both the Federal and State government. These forms are located under the Financial Aid Forms and Documents section of the Mount Aloysius College website.  Special Consideration requests must be submitted by the student and processed by the Financial Aid Office before the last day of the Fall/Spring semester.

According to the dependency questions on the FAFSA form, I’m considered dependent and must provide parent information. What should I do if I don’t have any contact with my parents?

You may submit a Petition for Independent Status to the Financial Aid Office. The financial aid administrator can change your dependency status from dependent to independent based on adequate documentation of any special circumstances you might have. That decision is based on the aid administrator’s judgment and is final – you can’t appeal that decision to the Department of Education.

Are my book expenses covered by my financial aid?

No. It is the student’s responsibility to pay for the textbooks needed for your courses. You will need to purchase the books at your own expense each semester.  However, if you will have excess funds on your account after your tuition/fees and room/board are covered, you may be eligible for a timely book allowance (voucher).

I’m a dependent student, but whose information do I report if my parent’s are divorced or separated?

You report the information about the parent you lived with for the greater amount of time during the 12 months preceding the date of application. If you didn’t live with either parent, or if you lived with each parent an equal number of days, use information about the parent who provided the greater amount of financial support during that time.

I’m getting ready to file my FAFSA. My parent recently got re-married, do I need to put my stepparent information on the FAFSA?

Yes. The FAFSA information is based on what the current marital status. This does not mean the stepparent is obligated to give financial assistance to you, but his or her income and assets represent significant information about the family’s resources.

I filed my FAFSA form, however, I did not list Mount Aloysius College as one of my college choices – how do I add it?

Using your Federal PIN number, you can go back into your FAFSA form on-line and add Mount Aloysius College to your application. Our federal school code is 003302. You will also need to complete the Pheaa Enrollment Change Form if MAC is now your 1st school of choice.

I am not doing well in a class and may drop/withdraw from it – what will happen to my aid?

Your financial aid for the semester will remain the same if you drop after the add/drop period, however you may need to make up the dropped credits over the summer to maintain aid eligibility (academic progress) in future semesters.  You should check with the Financial Aid Office who will review your transcript and advise you appropriately.

When can I expect a refund of excess monies on my account?

A: Refunds will not be available until approximately 6 – 8 weeks after the start of the semester. Contact the Controller’s Office for additional information.

When reviewing my FAFSA, I realized that I made a mistake and need to make a correction – how do I do this?

You can do this one of two ways. With your PIN# go back in to your FAFSA record and make the correction and resubmit to the Department of Education. Or, you can bring your correction with supporting documentation, if needed to the Financial Aid Office and we’ll make the correction for you.

I have been selected for verification by the Department of Education, how do I get a copy of my Federal Tax Return Transcript ?

You can request it online at www.irs.gov or call 1-800-908-9946.  You can also do a paper request by downloading the form at http://www.irs.gov/Individuals/Order-a-Transcript.

 

Financial Aid for Transfer, Graduate & Continuing Education, Study Abroad and Summer

Financial Aid for Transfer Students

Mid-Year Transfer Student Checklist

 

Update the Free Application for Federal Student Aid (FAFSA)

Go to the FAFSA website and use your PIN number to add Mount Aloysius as one of your school choices. The school code is 003302 and don’t forget to update your housing status. If you misplaced your PIN number, you may request a duplicate online.

Complete the State Grant Program Enrollment Information Form

This form will allow Mount Aloysius to access your PHEAA State Grant . The Enrollment Change Form can be returned to the Financial Aid Office, or you may send it directly to PHEAA. You may also update your status on your Account Access at www.aessuccess.org.

Direct Stafford Loan Changes

If you will be using Direct Stafford Loan monies to assist in paying your tuition, you must contact the school you attended in the Fall and request they cancel the second disbursement of the loan if you borrowed for the entire year. The amount you can receive for the Spring will be based on the amount you borrowed for Fall and your grade level at Mount Aloysius for the Spring. Your grade level is based on the number of credits that will transfer into Mount Aloysius. Mount Aloysius College participates in the Direct Loan programs. If you have never borrowed a Stafford Loan through the Direct Loan Program, you will need to complete a new Master Promissory Note for a Direct Stafford Loan. To check your total loan debt, go to the NSLDS website.

Direct Parent Plus Loan Changes

If you will be using a Direct Parent Plus Loan to assist in paying your tuition, you must contact the school you attended in the fall and request they cancel the second disbursement of the loan if your parent borrowed for the year (if applicable). Your parent will need to complete a Direct PLUS Loan Prequalification Form . If your parent applied for the Direct Plus Loan at your previous school and was denied, your parent still needs to apply with Mount Aloysius as the college and receive the denial again. If your parent was approved for the Direct PLUS Loan at your previous school and has elected to take a Direct PLUS loan at Mount Aloysius College we will process the loan using the Direct PLUS Master Promissory Note on file.

Submit Final Transcripts for all previously attended colleges

The final transcripts will be reviewed to determine how many credits have been earned towards your new program of study. Students who have received prior state grant assistance at another institution are required to submit final transcripts to the Registrar’s Office at Mount Aloysius. Academic progress requirements for the PHEAA State Grant program require the College to verify that you were successfully making academic progress at your prior institution before transferring to Mount Aloysius. PHEAA State Grant funds will not be credited to the student’s account until the transcripts are received and progress has been checked.

Verification Process

If you were selected for verification, you will be required to submit copies of you and your parents (if applicable) Federal IRS Tax Transcript and W-2 forms to the Financial Aid Office. You will also be required to submit a completed verification worksheet. The Financial Aid Office will notify you if these documents are required to complete your file. Your financial aid will not be processed until verification is completed.

Financial Aid for Graduate Students

Financial Aid for Graduate School

Much of the aid received by graduate students is in the form of loans. Many federal and state aid programs available to undergraduate students are not available to graduate students (Pell and FSEOG Grants as well as many State programs.)

To apply for a Federal Direct Stafford Loan, you must complete the Free Application for Federal Student Aid (FAFSA) on a yearly basis. In addition, a Federal Direct Stafford Loan Master Promissory Note (MPN) must be submitted to the Department of Education.

Students wishing to receive Federal Direct Stafford Loan monies to finance their graduate education must be enrolled in a degree program and are required to comply with all federal regulations regarding the verification of their FAFSA, satisfactory academic progress, and withdrawal policies/procedures.

Academic progress for graduate students will require the student to receive a grade of A, B, C, D or P. Any graduate student who receives a grade of F, I, or W is considered to have NOT successfully completed credits attempted. Graduate students must earn all credits attempted. Examples: A full-time graduate student attempts 12 credits per semester for a total of 24 credits for the academic year. That student must pass with an A, B, C, D or P all 24 credits. A full-time graduate student attempts 9 credits per semester for a total of 18 credits for the academic year. That student must pass with an A, B, C, D or P all 18 credits. A part-time graduate student attempts 6 credits per semester for a total of 12 credits for the academic year. That student must pass with an A, B, C, D or P all 12 credits.

Graduate School Loans

There are both government and private loans available to graduate students. Examples include:

Federal Direct Stafford Loan – low interest rate federal loans available to most students, even at half-time status. These loans will be unsubsidized (you pay the interest while you are in school) beginning July 1, 2012.

How Much Can I Borrow in Student Loans?

Yearly Maximum: $20,500 (unsubsidized)

The total debt you can have outstanding from all Stafford Loan combined is $138,500 as a graduate student. Only $65,000 of this amount may be in subsidized loans. The graduate debt limit includes any Stafford Loans received for undergraduate study.

Enrollment Classification

  • Full-time graduate student: 9 or more credits per semester
  • Half-time graduate student: 5-8 credits per semester
  • Less than half-time graduate student: less than 5 credits per semester

Financial Aid for Continuing Education Students

As a Continuing Education student, you have the opportunity to apply for financial aid by completing the Free Application for Federal Student Aid (FAFSA). You can apply by going to this website: http://www.fafsa.gov/

This application must be completed each year and should be completed before May 1 in order for you to be considered for a Pennsylvania State Grant (PHEAA). Note: Certificate and Online Degree students are not eligible for a PHEAA State Grant. The FAFSA will also determine your eligibility for a Federal PELL Grant and must also be on file if you want to borrow on a Federal Direct Stafford Loan.

If during the academic year you have a drastic change to your income or incur unusually high medical or dental expenses, please contact the Financial Aid Office. The Financial Aid Office can take this information into consideration. You will be asked to complete a form, attach all the necessary documentation and the Federal government will be notified so that your aid can be recalculated.

Part-time (less than 12 credits), DCP, DuBois Radiography/MLT Certificate and Online Degree students may be eligible for the following types of financial aid:

  • Pell Grant
  • PHEAA State Grant (Certificate and Online Degree students are not eligible)
  • Federal Direct Stafford Loan (subsidized and/or unsubsidized)

*These students are billed at the per credit rate.

Full-time (12+ credits) DuBois Radiography/MLT and DCP student in Nursing or Business may be eligible for the following types of aid:

  • Pell Grant
  • PHEAA State Grant
  • Federal Direct Stafford Loan (subsidized and/or unsubsidized)
  • DuBois Radiography/MLT Grant
  • GCE Scholarship

*These students will be billed the flat tuition rate based on their major.

Keep in mind state and federal grants are based on the FAFSA application and take into account income, assets and number in family. Federal Direct Stafford loans are monies that must be repaid once you graduate or cease to be at least half-time.

Student Procedure for Registering for Fall and Spring classes:

When you register for your classes the Controller’s Office will want to know how you plan to pay your tuition bill. If your employer will be helping pay your tuition or if you’re receiving financial aid you must contact the Controller’s Office to let them know your arrangements. Their office can be reached by dialing (814) 886-6473. If you do not clear your tuition bill for the semester, you should not attend classes.

Please note: Once the Financial Aid Office receives your FAFSA, you will be sent an award letter based on the number of credits for which you are scheduled or based on the lowest number of credits you can enroll for and be eligible or financial aid (6 credits). It is important that you register for all of your classes at one time since your financial aid is based on the total number of credits for which you are enrolled for during the entire semester.

Other Important Information

  1. After your financial aid is officially determined, you will receive an award letter. This letter will reflect the aid you are receiving for the fall and spring semesters and will give you the opportunity to either accept or decline. You will need to sign and date the award letter and return it to the Financial Aid Office before any aid will be applied officially to your tuition account. So, don’t forget to return this letter.
  2. When you start receiving financial aid the government and school will expect you to make Academic Progress. This means that you must pass the number of credits you attempt each semester. If you withdraw from school, drop a class, fail a class or repeat a class your financial aid can be affected during the semester you’re in or in future semesters.In order to secure a Federal Direct Stafford Loan, you must complete a Master Promissory Note (MPN). The MPN is good for 10 years, so you’ll only need to complete the form once while at Mount Aloysius College unless we notify you otherwise.
  3. Entrance Counseling must also be completed by all students receiving a Federal Direct Stafford Loan at Mount Aloysius. This form is required to ensure that the student borrower understands the loan terms and that it must be repaid. The entrance counseling must only be completed once.
  4. Once you apply for financial aid via the FAFSA, you may be selected for Verification. This means you will be required to submit proof of your income to the Financial Aid Office. You will be required to submit copies of your W-2′s, a copy of your Federal Tax TRANSCRIPT obtained from the IRS, and complete a verification worksheet. If you are a dependent student, your parents will also have to submit these documents. If you are selected, it is very important that you submit the documents as soon as possible.
  5. All part-time & DCP students who are receiving a PHEAA State Grant will have their actual tuition and fees reported to the Pennsylvania Higher Education Assistance Agency. This means your eligibility for a state grant may change depending on your tuition and fees. Beginning Fall 2013, a student must equally balance the number of in classroom credits with on-line credits on a term by term basis. Examples: 1: Student is part-time, enrolled in 3 classroom credits and 3 on-line credits; student is possibly eligible for a PHEAA State Grant. 2: Student is part-time, enrolled in 3 classroom credits and 6 on-line credits; student is not eligible for a PHEAA State Grant.
  6. Certificate Programs Approved to Receive Financial Aid: Currently, there is only one certificate program at Mount Aloysius College approved to receive financial aid. It is: Certified Professional Coding Certification

Financial Aid for Study Abroad

Students opting to participate in Study Abroad through CIS-Center for International Studies during the summer, fall or spring semesters should complete the Free Application for Federal Student Aid (FAFSA) and may use state, federal and campus-based financial aid (excluding work-study) to defray the cost of the Study Abroad tuition/fees/expenses. The Office of Financial Aid will process your financial aid for these semesters through Mount Aloysius College using your study abroad costs and number of credits that you will be enrolled for in your program. Study Abroad programs may have higher costs than Mount Aloysius College; however, this does not mean that your federal and state awards will be increased (including your Direct Stafford Loan). Contact the Office of Financial Aid for additional funding options if your costs exceed your aid awarded.

Financial Aid for Summer Classes

Students may be eligible for financial aid for Summer sessions depending on their enrollment status, eligibility and the availability of financial aid funds. Mount Aloysius College offers the following sources of financial aid for Summer sessions: Federal Pell grant, Federal Work-Study, Federal Direct Stafford loans, Federal Direct PLUS loans and alternative loans.

Students wishing to apply for financial aid for summer must complete the current year & upcoming year Free Application for Federal Student Aid (FAFSA). This form must be on file to determine Federal Pell Grant eligibility and to process a Federal Direct Stafford Loan. In addition, any student wishing to receive any type of financial aid must be matriculated into a degree program and students are asked to sign up for ALL classes for summer before a determination can be made regarding their aid eligibility. All students wishing to apply for a Federal Direct Stafford Loan or parents wishing to apply for a Federal Direct PLUS Loan for Summer must complete a “Summer Loan Request” form at the Financial Aid Office. Student must be enrolled at least half time (6 or more credits) during the summer. The Summer Loan Request form must be received by the Financial Aid Office at least seven days before the last day of the Summer II semester in order for either loan to be processed. A PLUS loan will also require the completion of a Prequalification Form. A Master Promissory Note (MPN) (for both Stafford & PLUS) must also be on file with the Department of Education. Student loans will not be processed without the “Summer Loan Request” form on file.

Note: The amount of Subsidized and Unsubsidized Direct Stafford Loan borrowed for the summer sessions takes away from the total amount that can be borrowed from the upcoming fall/spring semesters. Please refer to the College catalog for additional Financial Aid information.

 

Financial Aid Programs and Policies

Federal Aid Programs

FEDERAL PELL GRANT

Award amounts are determined by using the results from filing the Free Application for Federal Student Aid (FAFSA) and range from $400 to $5,645 per year. The amount the student is eligible for is directly related to the Expected Family Contribution (EFC) calculated by the federal government. These monies do not have to be repaid. Pell grant eligibility is limited to twelve (12) semesters.

FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (FSEOG)

Award amounts are based on financial need and government funding levels and range between $200 and $2,000 per year. In order to receive an FSEOG, students must also be eligible for a Federal Pell Grant. This amount may vary from year to year based upon funding levels and student eligibility. These monies do not have to be repaid.

FEDERAL PERKINS LOAN

Award amounts are based on financial need and government funding levels and range between $200 and $4,000 per year. Students awarded a Perkins Loan are required to complete an entrance interview before the monies are credited to their account. Upon graduation, withdrawing, or dropping below 6 credits, students must complete an exit interview. Loan repayment begins nine months from the date the student ceases to be enrolled on at least a half time basis. While in repayment, the student will be charged five percent interest on the principal amount of the loan. These monies must be repaid.

FEDERAL WORK-STUDY (FWS)

Award amounts are based on financial need and government funding levels and range between $200 and $1,400 per year. Students select an office on-campus or off-campus where they would like to work, complete the necessary paperwork and obtain the supervisor’s signature. Students are paid minimum wage which is $7.25/hour. Students are paid bi-weekly for all hours worked. Federal work-study awards are not deducted from your tuition bill.

FEDERAL COMMUNITY SERVICE WORK-STUDY

In addition to jobs on campus, Mount Aloysius College also sponsors several off-campus jobs. The jobs are located in community-service based non-profit organizations. Examples of such positions include: local YMCA/YWCA, America Reads, public libraries and United Way. Award amounts are based on financial need and government funding levels and range between $200 and $1,400 per year. Students select an off-campus site where they would like to work, complete the necessary paperwork and obtain the supervisor’s signature. Students are paid minimum wage which is $7.25/hour. Students are paid bi-weekly for all hours worked. Federal work-study awards are not deducted from your tuition bill.

FEDERAL DIRECT LOAN PROGRAMS

FEDERAL DIRECT STAFFORD LOAN

In order to meet their educational expenses, students may wish to borrow monies through the Direct Loan Program. It is the student’s responsibility to complete a Master Promissory Note (MPN) with the Department of Education in order to obtain the loan. A MPN need only be completed once and is valid for up to 10 years period. In addition to the application, students must file the Free Application for Federal Student Aid (FAFSA) before a student loan can be processed. Information obtained from the FAFSA determines the amount and type of loan the student is eligible for.

First time loan borrowers are required to complete Entrance Counseling before the monies will be credited to the student’s account. Students must be enrolled in at least 6 or more credits to receive a Federal Direct Stafford Loan. If you are a first-year undergraduate student and a first-time borrower, your first disbursement can’t be made until 30 days after the first day of your enrollment period.

The Direct Stafford Loan falls under two distinct types:

  • SUBSIDIZED STAFFORD LOAN: means the government pays the interest for the student while they are enrolled in school.
  • UNSUBSIDIZED STAFFORD LOAN: means the student is responsible for paying the interest. The interest can either be paid quarterly or the student can request that the interest be capitalized.

The maximum amounts that an undergraduate student may borrow under the Direct Stafford Loan program are:

Freshman (0-29 credits completed)

  • $3,500 subsidized per year for dependent & independent students
  • $2,000 unsubsidized per year for dependent students
  • $6,000 unsubsidized per year for independent students

Sophomore (30-59 credits completed)

  • $4,500 subsidized per year
  • $2,000 unsubsidized per year for dependent students
  • $6,000 unsubsidized per year for independent students

Junior (60-89 credits completed & enrolled in a baccalaureate program)

  • $5,500 subsidized per year
  • 2,000 unsubsidized per year for dependent students
  • $7,000 unsubsidized per year for independent students

Senior (90-120 credits completed and enrolled in a baccalaureate program)

  • $5,500 subsidized per year for dependent & independent students
  • $2,000 unsubsidized per year for dependent students
  • $7,000 unsubsidized per year for independent students

Upon graduation, withdrawal or being enrolled less than half-time, students are required to complete Exit Counseling and begin repayment after a six month grace period.

DIRECT PARENT LOANS FOR UNDERGRADUATE STUDENTS (PLUS)

Parents of dependent students may borrow up to the costs of education less any other financial aid through the Direct PLUS Loan program. Parents must complete a PLUS Loan Prequalification form and submit it to the Financial Aid Office so a credit check can be submitted. If approved, the parent may then apply online for the Federal PLUS Loan. If a parent is denied a Direct PLUS Loan, the student may then be eligible to borrow additional funds through their Direct Unsubsidized Stafford Loan or the parent may wish to appeal with the Department of Education or use an endorser.

Direct PLUS Loan repayment begins sixty days after fully disbursed. Parents may request a forbearance for up to four years while the student is enrolled for at least 6 credits and an additional six months after the student graduates. The school will apply the Direct PLUS Loan funds to the student’s tuition account to pay for tuition, fees, room and board and other school charges.

All students and parents who borrow Federal Direct Stafford Loan, Federal Perkins Loan or Federal Direct PLUS Loan will be reported to the National Student Loan Data System (NSLDS), www.nslds.ed.gov . This information will be accessible to guaranty agencies, lenders, and institutions determined to be authorized users of the data system.

DIRECT LOAN FACTS:

  1. Effective July 1, 2013, eligibility for subsidized loans is limited to 150% of the length of an undergraduate student’s academic program.   For example, students in a 4-year bachelor’s degree program will be eligible for subidized student loans for a maximum of 6 years.  When a student has received subsidized loans for 150% of the published time of the academic program –  * The student may not receive any additional subsidized loans, and the subsidized loans received from July 1, 2013 on lose their subsidy.
  2. When a student is enrolled in his or her final semester of college (which is not a full academic year) and will graduate at the end of the semester, the USDE requires the College to prorate the student’s loan eligibility for that semester (if the student is not enrolled full-time).   Please contact the Financial Aid Office regarding the amount you are eligible for.
  3. Interest on new subsidized Direct Stafford loans (those with a first disbursement made on or after July 1, 2012, and before July 1, 2014) will now accrue during the six-month grace period that begins after a borrower graduates or drops below half-time enrollment status. Previously, interest on these loans did not accrue during the grace period.
  4. Grace period- this is the 6 months after a student graduates, withdraws or is enrolled less than 1/2 time, in which the student is not yet responsible to make payments.  Your grace period begins the day after you stop attending school on at least a half-time basis.  Once your grace period ends, you must begin repaying your loan(s). Students can, although not required, pay on the loans during the grace period.
  5. Summer credits to graduate – Direct Stafford Loan borrowers who are enrolled less than 1/2 time during the summer semester, will begin using their 6 month grace period.  Students in this case, will be reported to their servicer(s) as enrolled less than 1/2 time as of the last date of the prior semester.

Other Aid Programs

PENNSYLVANIA STATE GRANT (PHEAA)

Application deadline date of May 1. PHEAA uses information supplied on the Free Application for Federal Student Aid (FAFSA) to determine your state grant eligibility. PHEAA will notify you directly of your annual award amount. This notification usually begins during the month of May. Note: Students enrolled in the online degree program or enrolled in a certificate program are not eligible for PHEAA State grants. PHEAA State Grant eligibility is limited to eight full-time semesters. (Four semesters for an associates degree or eight semesters for a bachelors degree.)

In addition, beginning with Fall 2013, a student must equally balance the number of in classroom credits with on-line credits on a term by term basis.

*Examples:

  1. Student is full-time, enrolled in 6 classroom and 6 on-line; student is eligible for a full time PHEAA State Grant.
  2. Student is full time, enrolled in 6 classroom credits and 9 on-line credits; student is not eligible for PHEAA State Grant because they are enrolled in less than 50% classroom credits.
  3. Student is full-time, enrolled in 6 classroom credits and 6 on-line credits and then adds another 3 credit on-line course. The student is now no longer eligible for a PHEAA State Grant.

**Mount Aloysius College has been approved to participate in the PA State Grant Distance Education Program.  This program provides State Grant awards to PA students who are enrolled in programs of study at approved schools offering more than 50% of their courses on-line (on-line degree) or for students who are taking more than 50% of their credits on-line.  Participants would normally NOT qualify for a State Grant award.

**Funding for the Distance Education Pilot Program is limited and is not guaranteed so every student that meets the above criteria may NOT receive funding.  It is in the student’s best interest to continue to balance their in classroom credits with their on-line credits for each semester.

STATE GRANTS (NON-PA RESIDENTS)

If you are a resident of the following states, you may be eligible for a grant from your state:

  • Connecticut
  • Delaware
  • Maine
  • Massachusetts
  • Ohio
  • Rhode Island
  • Vermont
  • Washington D.C.
  • West Virginia

You must submit your FAFSA by the deadline listed for your state on the FAFSA application.

NURSING LOAN:

Award amounts are based on financial need and funding levels to full-time, undergraduate students in the Nursing program and range between $200 and $5200 per year. Students must be enrolled in nursing classes in the semester during which nursing loan money is received. Students awarded a Nursing Student Loan are required to complete an entrance interview every semester they are awarded a nursing loan and an exit interview upon graduation, withdrawal from the college or the Nursing Program or upon dropping below 6 credits. Repayment on the loan begins nine (9) months from the date the student ceases to be enrolled in the Nursing Program on at least a half time basis. While in repayment, the student will be charged five percent interest on the principal amount of the loan. These monies must be repaid. Disclosure

MOUNT ALOYSIUS COLLEGE RESIDENTIAL GRANT:

New full-time students (Freshmen, Returning Adults, Transfers and Re-Admits) residing on campus will receive $1,500 a year during their freshman year and $750 all other years.

MOUNT ALOYSIUS COLLEGE COMMUTER GRANT:

New full-time students (Freshmen, Returning Adults, Transfers and Re-Admits) commuting to college will receive $1,000 a year during their freshman year and $500 all other years.

ST. ALOYSIUS GRANT:

A special scholarship awarded to out of state (not international) full-time freshman students. Each scholarship is valued at $1,500 a year beginning Fall 2013.

MERCY GRANT:

This grant may be awarded to full-time students who are Pennsylvania residents. Students are awarded a maximum of $1,000 a year. The Mercy Grant will be given to Pennsylvania State Grant eligible students who do not meet the income requirements for Federal Pell Grant.

FAMILY TUITION GRANT:

The Family Tuition Grant is a special grant awarded to siblings (brothers and sisters) and/or parents who are attending Mount Aloysius College simultaneously. To be eligible, two or more immediate family members must be enrolled full-time during a given semester. The grant is renewable each year as long as two or more immediate family members continue to be enrolled full-time. Each enrolled family member is eligible for a tuition discount of $1,000 per year.

PRIVATE ALTERNATIVE LOAN PROGRAMS:

The alternative loan programs are separate from the Federal Direct Stafford Loan and are used to supplement any federal loans you may receive to finance your college education. Unlike the Direct Stafford Loan program, you may borrow up to the full cost of education minus any other financial aid you receive. These loans usually have much higher interest rates than Direct Stafford Loans and may require a co-signer. They are not guaranteed. Students should exhaust their maximum Federal Loan eligibility before borrowing an alternative loan. The terms and conditions of the Federal Loans are more favorable than alternative loans. As a borrower, it is you and your co-signer’s (if applicable) responsibility to compare rates and determine what alternative loan is best for you. Information on private alternative loan programs can be obtained by contacting the Financial Aid Office at 814-886-6357 or 1-888-823-2220.

Additional Sources of Funding:

Private Alternative Loans

Mount Aloysius College wants students to be informed before borrowing a Private Alternative Loan.   Private Alternative loans are non-federal educational loans, through a private lending institution, typically issued in the student’s name and may require a cosigner. Each lender has different eligibility requirements which could include degree status, enrollment status, US citizenship, academic progress, etc.  The loan rates, repayment terms, and conditions vary among lenders. Some lenders may also require payment of interest while students are in school.

REMEMBER:  You Should ALWAYS Take Your Federal Student Aid First

It is in your best interest to complete the Free Application for Federal Student Aid (FAFSA on the web) and apply for any student financial aid for which you are eligible, including federal loans before borrowing private alternative loans. Private loans typically have variable and higher interest rates, more fees, and less flexible repayment options than federal loans and will take into account your credit history and require you to have a co-signer.  These loans are not guaranteed.

*Note: Due to the Truth in Lending Act, students who apply for a private alternative loan will need to complete the following steps. It is important that you allow sufficient time for processing, as these new requirements may delay loan disbursements by an additional 10 days.  

  1. Review your eligibility for federal and state student aid.   Make sure that you’re receiving the maximum eligibility in your Federal Direct Stafford loans for the year.
  2. Apply for a private alternative student loan through the lender of your choice.  Be sure to compare lenders before borrowing.
  3. Comply with submitting any documentation for you and/or your cosigner to the lender in a timely fashion, if requested.
  4. Sign your loan application or promissory note. If you have a cosigner, he/she must to also sign the application.
  5. Accept or decline your loan offer from the lender, if you are pre-approved. If you are pre-approved, print out a copy of the pre-approval as proof of your loan for the Controller’s Office.
  6. Complete the Private Alternative Loan Self-Certification form which should be provided by your lender.
  7. Read and understand the 3 separate disclosures you will receive from your lender throughout the application process. You will receive one disclosure when you apply, another disclosure when you are approved by the lender and offered the loan, and the final disclosure will be sent prior to disbursement.
  8. The Financial Aid Office will certify your Private Alternative Loan once we are notified that you’ve completed the lenders requirements and application process.  Once certified, the loan will be added to your award letter and you will be sent a revised copy.  Note: Mount Aloysius must approve the amount you are borrowing.  The total of your loan and other aid cannot be more than your cost of attendance for the year.  Loans are always disbursed in two disbursements.  Examples:  A fall only loan would be disbursed in two separate disbursements with the second disbursement occurring around mid semester.  A loan requested for the year would be disbursed in two disbursements.  One disbursement in the fall and one in the spring.

 

Tips When Applying for Your Private Alternative Loan

  1. Apply with a creditworthy cosigner and you may receive a more competitive interest rate and a better chance for approval.
  2. Compare lenders.  You should be looking for the best loan with the best interest rates and terms you can get.  Don’t be afraid to call the lender with questions.
  3. Only borrow what you absolutely need.  Look at your budget and if you’re able to pay some of your balance do so.  Remember this is a loan and must be repaid along with your federal student loans.
  4. Know your interest rate before you sign your promissory note.
  5. Keep track of your loan debt.  You should know what private alternative loans you’ve borrowed and you can always check on the federal loans you’ve borrowed by going to www.nslds.gov.
  6. If possible, pay interest while in school to reduce total repayment.  
  7. We recommend that you do not apply for your private alternative loan more than 90 days before the beginning of the semester for which you are applying. Otherwise, your credit check may run out and the loan will not be valid at the time of disbursement.
  8. Be sure to check with the Controller’s Office about your balance before you apply for an alternative loan.   
  9. If you cancel your loan or change the amount with your lender, you must notify the Controller’s and Financial Aid Offices. 
  10. Summer is a separate term and cannot be combined with Spring or Fall.  Be sure to use valid loan term dates. Incorrect loan term dates may delay certification of your loan.

 

Remember, you have the right to select the alternative lender of your choice. The following is a list of lenders with whom Mount Aloysius students have conducted business in the past 3 years. Neither Mount Aloysius College nor the Financial Aid Office promotes, endorses, or recommends any of these loan products or lenders by including them on the list.

An alternative loan is an agreement between the borrower, cosigner and the lender.  Mount Aloysius College cannot in any way be held liable in the event the borrower is dissatisfied with the rates, terms, or service provided by any lender, nor is Mount Aloysius responsible for any damages incurred by the student as a result of the student’s choice of lender.

 

Loan Term Dates:

Fall 2013   August 2013 to December 2013

Spring 2014 Jan 2014 to May 2014

Fall 2013 & Spring 2014   August 2013 to May 2014

Summer 2014  May 2014 to August 2014

***Please note that alternative loans for the summer semester are NOT processed until mid to late June each year and are based on the number of credits you’re enrolled in for the entire summer. You will not be able to receive any kind of a refund until funds are disbursed in July.  Please plan ahead.  In addition, remember that alternative loans are subject to a credit check by the lender.  Credit check approvals only last 90 days so you should not apply for your summer alternative loan before April.


For more information on each loan program and access to online applications, please select the appropriate link.

The loans are listed in alphabetical order only—there is no ranking.

LENDER NAME WEB ADDRESS, PHONE NUMBER & DISCLOSURE INFO. REQUIREMENTS
Chase Select www.chasestudentloans.com   1-800-487-4404Click here to see current DISCLOSURE Statement Degree and non-degree students Can be enrolled less than half time*available to Chase customers only
Citizens Bank TruFit Student Loan(lending partner includes Charter One) www.citizensbank.com/trufitstudentloan     1-800-708-6684
Click here to see current DISCLOSUREStatementwww.charterone.com/trufitstudentloan     1-800-721-3969
Click here to see current DISCLOSURE Statement
Degree students only
Enrolled at least half time
Credit Unions ARC FCUwww.arcfcu.org/arcfcu/studentloans.asp1-877-298-6224

Butler FCU

www.baecu.student choice.org

1-877-319-5343

Discovery FCU

www.discoveryfcu.studentchoice.org

1-866-558-5459

G.A.P. FCU

www.gapfcu.studentchoice.org

1-877-298-6154

Healthcare First FCU

1-866-320-1482

www.healthcarefirstcu.studentchoice.org/

Members First FCU

www.members1st.studentchoice.org

1-800-369-4980

Mt. Laurel FCU

www.mlfcu.net

1-877-286-5328

New Cumberland FCU

www.ncfcuonline.studentchoice.org

1-866-825-6452

Patriot  FCU

www.patriotfcu.org

1-877-877-2177

Pentagon FCU

www.penfed.org

1-800-247-5626

Priority 1st FCU

www.priorityfirstfcu.org

1-800-368-0739

Timberland FCU

www.timberlandfcu.studentchoice.org

1-877-220-4507

 

Must be a member
Degree seeking undergraduate at halftime status or higher.
Discover www.discoverstudentloans.com      1-877-788-3368
Click here to see current DISCLOSURE Statement
Degree students only
Can be enrolled less than half time
(Note: loans for students who are less than half time go into immediate repayment).
Must be making satisfactory academic progress
PNC Solutions Loan www.pnconcampus.com         1-800-762-1001
Click here to see current DISCLOSURE Statement
Degree students only
Enrolled at least half time
Sallie Mae Smart Option Loan (lending partners include AMS, Nellie Mae) www.salliemae.com/mtaloy     (888) 2-SALLIE or (888-272-5543)
http://www.salliemae.com/mtaloy/AMS
www.salliemae.com/mtaloy/Nellie
Click here to see current DISCLOSURE Statement
Degree and non-degree students
Can be enrolled less than half time

SunTrust Custom Choice Loan www.suntrusteducation.com/privcc/mtaloy    1-866-232-3889Click here for current DISCLOSURE Statement Degree students only
Enrolled at least half time
Union Federal Savings Bank www.ufpsl.com        1-866-513-8445
Click here for current DISCLOSURE Statement
Wells Fargo www.wellsfargo.com/student1-800-378-5526Click here to see current DISCLOSURE Statement Degree students only
Can be enrolled less than half time

If You Are Denied a Private Alternative Loan:

  • Before you apply through another lender, you should determine why you were denied at the first lender. Contact the lender and ask why you have been denied and if there are steps you can take to get your loan approved.

Disclosures

Examples of our historical lenders disclosures are listed below.   The information contained in these disclosures is current as of April 2013.   Please keep in mind that these disclosures do change depending on interest rates, etc.   These disclosures are examples and you should always review the most current disclosure posted on the lenders website for the particular loan in which you are applying.  The lender website will reflect the most up to date and accurate information.

NOTE:  Credit unions who offer private educational loans to its members use a line of credit which do not require a disclosure.

Posted May 2010 updated April 2013

Financial Aid Policies

Student Rights and Responsibilities

You have the right to know:

  1. What financial aid programs are available.
  2. How Mount Aloysius College determines the type and amount of assistance you receive.
  3. If your enrollment or financial situation changes, you can ask Mount Aloysius College to reconsider your aid package.
    1. Obtain & complete a Special Consideration Request Form from the Financial Aid Office.
    2. Contact the Pennsylvania State Grant Agency and complete a form showing your change.
  4. What the procedures and deadlines are for applying for the various types of aid.
  5. How Mount Aloysius College determines satisfactory academic progress.

 

You are responsible for:

  1. Accurately completing and submitting the necessary application forms and additional information requested by the deadline dates.
  2. Using financial aid monies for education and related expenses (books, supplies, etc.).
  3. Informing the Financial Aid Office of any grants, loans or scholarships received from outside organizations.
  4. Informing the appropriate offices of changes of address, name and enrollment.
  5. Understanding the academic progress requirements for maintaining financial aid eligibility.

 

FERPA (Family Education Rights and Privacy Act)

The Financial Aid Office at Mount Aloysius College is in compliance with the Family Education Rights and Privacy Act which may be found at: http://www.ed.gov/policy/gen/guid/fpco/ferpa/index.html

The FERPA Waiver Form is completed by a student in order to give the Financial Aid Office permission to speak with designated people about their account. Without the form on file, we are limited in what we are able to discuss with others, such as a spouse or a parent. Only the student may complete the form. Permissions granted by the completion of this form may be rescinded at any time by the student.

Packaging Policy

In the tradition of a Mercy institution, Mount Aloysius College recognizes the expense of a college education and strives to assist students in the financial aid process so they may receive the maximum financial aid package possible. The Financial Aid Office at Mount Aloysius College abides by the regulations and procedures set forth in the Financial Aid Handbook published by the United States Department of Education, as well as all other publications specifying set regulations. Students are packaged on a first come, first serve basis pending funds availability. Students are packaged without regard to sex, race, religion or physical challenge. Athletic leadership, ability, participation or performance is not considered when awarding financial aid.

Loan Repayment

When you applied for student loans, you signed a promissory note that legally obligates you to repay the loans according to the terms and conditions in which you agreed to.

Grace Period:

You are entitled to a grace period after you graduate, withdraw, or are enrolled less than ½ time.  This is the initial 6 months after you are out of school or drop below half-time, for the Federal Stafford loan (Direct & FFELP) in which you are not yet responsible to make payments.  The Federal Perkins Loan and Nursing Loan has a 9 month grace period.

You should receive a repayment obligation and billing statement approximately one month prior to your first payment being due from your servicer(s).

Not repaying your student loans has very serious consequences, such as:

  • Damage your credit report for 7 years or more
  • Garnishment of wages and federal/state income tax refunds
  • Ineligible for any additional federal aid in the future at any institution
  • Loss of deferment eligibility
  • Legal action may be taken against you

You can view your current Federal Loan debt and the name of your lender at NSLDS.

You can determine your estimated monthly loan payment here.

Exit Counseling

If you received a Federal Stafford Loan (Direct and/or FFELP), Perkins Loan, or Nursing Loan while enrolled at MAC, you are required to complete an exit counseling session. The exit counseling is required to be completed anytime a student withdraws, graduates, or is enrolled less than half time (less than 6 credits). The goal of exit counseling is to inform you of your rights and responsibilities of loan repayment, the amount you borrowed, your projected monthly payment, and lender information.

**Separate exit sessions are required for the Stafford, Perkins, and Nursing Loans.**

Stafford Loan Exit Counseling  at studentloans.gov

  • Sign in using your FAFSA PIN#
  • Select COMPLETE COUNSELING
  • Choose EXIT COUNSELING and START

Perkins and Nursing Loan Exit Counseling 

Consolidation

You may consolidate your Federal Stafford, Perkins, and Nursing Loans together.  Please visit the Department of Educations website at www.studentloans.gov .

You may lose your grace period or loan forgiveness options when consolidating your loans.  Be sure to visit www.youcandealwithit.com to determine whether consolidation is right for you.

Perkins/Nursing Loan Repayment

You will want to contact either the Financial Aid Office or ECSI to see if you qualify for a deferment or forbearance or set up a special payment plan.  Visit www.ecsi.net to apply for a deferment or forbearance.

You must also notify ECSI if you change your name, address, phone number, or if you are enrolled in a college or university on at least a part time basis.

To contact Educational Computer Systems Inc. (ECSI):

181 Montour Run Rd
Coraopolis, PA 15108
412-788-3904
www.ecsi.net

Stafford Loan Repayment

If you are having difficulty repaying your Stafford loan, contact your servicer(s) immediately to see if you qualify for a deferment, forbearance, or if consolidation is right for you.  You may also want to visit www.youcandealwithit.com for suggestions on how to deal with repayment issues.

You must also notify your servicer if you change your name, address, phone number, or if you are enrolled in a college or university on at least a part time basis.

Visit www.nslds.ed.gov to find out the servicer(s) of your Stafford/PLUS loan(s).

To contact your servicer(s):

Fedloan Servicing
MyFedLoan.org
800-699-2908

AES
aessuccess.org
800-233-0557

Great Lakes
mygreatlakes.org
800-236-4300

Sallie Mae
salliemae.com
800-272-5543

Nelnet
nelnet.com
888-486-4722

Sallie Mae – Dept. of Ed Servicing
salliemae.com
800-722-1300

Direct Loans
myedaccount.com
800-848-0979

If you dispute your Federal Stafford Loans you can contact the FSA Student Loan Ombudsman Group at:

Via on-line assistance:  http//studentaid.gov/repay-loans/disputes/prepare

Mail U.S. Department of Education
FSA Ombudsman Group
830  First Street, N. E., Mail Stop 5144
Washington, D.C.  20202-5144
Via telephone:   877-557-2575

Tuition Remission and Exchange

Mount Aloysius College has established a Tuition Remission Program to benefit eligible employees as well as the eligible employee’s spouse and dependent children. Tuition remission benefits are also extended to the Sisters of Mercy, Mid-Atlantic Community and their eligible relatives.

Through the Tuition Remission Program, the College waives undergraduate tuition charges for eligible students enrolled in credit bearing online or classroom courses offered by Mount Aloysius College.

Tuition remission is not available for master’s level course work, independent or directed studies and study abroad programs. Books and room and board expenses are not eligible for tuition remission. The Program covers registration and laboratory fees for the Center for Lifelong Learning (CLL) for employees only. Otherwise, an eligible student is financially responsible for any fees or other College related expenses.

Special interest courses of a non-credit nature (e.g. SAT review, yoga, stamp collecting or other personal enrichment classes) are not eligible for tuition remission. Credit bearing courses, however, are covered whether or not the eligible student is degree seeking. Tuition remission may be applied toward courses taken under the College’s Accelerated Degree Completion and Dual Enrollment Programs.

For more information about Tuition Remission, please contact the Human Resources Department at (814) 886-6500.
Tuition Exchange, Inc. Program

Mount Aloysius College is a member institution of the tuition exchange programs offered through the Tuition Exchange (TE), Inc and the Council of Independent Colleges (CIC). Through participation in these national programs, the College provides scholarship opportunities for its employees’ dependents at other participating colleges and universities. Tuition exchange scholarships are offered on a competitive basis and are not guaranteed to any applicant at any time. The tuition exchange scholarship is NOT an automatic benefit of employment like health insurance or vacation time. Therefore, the tuition exchange program is not considered an employee benefit program. Scholarships are awarded by the importing institution based on criteria established solely by that college or university. Most scholarships cover full tuition and exclude fees, course overloads and room and board charges. However, the value of the award is determined by the importing institution.

The Tuition Exchange, Inc. program is a pooled reciprocal scholarship program not a one-to-one exchange. As a member institution, the College is obligated to maintain a balance between the numbers of student “exports and imports.” Therefore, the number of students the College is able to sponsor each year will vary depending upon the number of renewals and new student imports received from other participating institutions.

The College’s TE balance is based on an import/export formula using data from the most recent five (5) year period with the goal that a zero balance be maintained. For this reason, the College reserves the right to limit the number of applications accepted and/or submitted for a given academic year to maintain the integrity of the program. In addition, Mount Aloysius College generally limits the number of new TE import students to three (3) each year.

For more information about Tuition Exchange, Inc. Program, please contact the Human Resources Department at (814) 886-6500 or log-in to the MAC Portal and download the Tuition Remission document under the MAC Policies – Documents tab.

 

Need help? Contact a Financial Aid Advisor

Use the form below or reach us at:

  • 814-886-6357
  • financialaid@mtaloy.edu
  • Financial Aid Office, 7373 Admiral Peary Highway, Cresson, PA 16630
  • In person, Monday through Friday from 8:30 a.m. – 5:00 p.m. – Room 122 Main Administration Building

First Name (required)

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Meet the Financial Aid Team

Stacy Schenk
Director of Financial Aid
Linda Gaston
Senior Assistant Director of Financial Aid
Tina Tanzi
Assistant Director of Financial Aid & Student Counseling
Michelle Elliott
Assistant Director of Financial Aid & Processing Specialist
Susan Hoberney
Financial Aid Secretary