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How Financial Aid is Determined

How is my financial need decided?
To determine your financial need, the Office of Financial Aid analyzes the FAFSA, PROFILE, and federal income-tax returns to arrive at an “Expected Family Contribution”– the figure that your family is expected to contribute in the upcoming year. Financial need is the difference between the total cost of attending Saint Anselm and Expected Family Contribution.

What are the most important factors in determining “Expected Family Contribution?”
A number of factors are considered, such as annual income, number of children, number of children in college, unusual expenses (such as medical costs), savings, and other assets.

How does Saint Anselm help meet that need?
We prepare a financial-aid package consisting, in most cases, of a grant and/or scholarship, loan, and work-study. The package is designed to help cover the difference between the total cost of a Saint Anselm education and Expected Family Contribution.

What are grants, scholarships, loans, and work study?
Grants and scholarships are gift awards funded by Saint Anselm College, the federal government, or individual state governments. You do not need to repay a grant or scholarship. Be sure to apply for your state’s scholarship.

When will I receive notification about my financial aid award?
After you have been offered admission to the College, and shortly after all financial aid forms are received and analyzed, the Office of Financial Aid sends you notification of your award status. Students applying as freshmen will receive notification of their awards in mid-March. Returning students will be notified during the end of May or early June. (NOTE: Students are notified of merit awards when offered admission to Saint Anselm.)