To assist students through the financial aid process, we have compiled a list of frequently asked questions and their answers. If you are unable to find an answer to your question, please contact our Office of Financial Aid for more information.
Merit Aid and Non-Need-Based Aid
What happens if I receive a scholarship from an outside source?
When you receive an award from an outside source, we will first fill any unmet need and then, if necessary, reduce your self-help resources (loan and/or work), and gift aid. We do this to encourage you to seek outside sources of aid. In recognition of the effort you made to obtain the award, we do not first seek to reduce your grant aid. However, any scholarships awarded over the amount of unmet need and self-help may result in a reduction of Saint Anselm College grant and/or scholarship aid.
Students must notify the Office of Financial Aid of any outside scholarship(s) received due to the federal government's mandates. We must include all outside scholarships as part of your financial aid funding.
How do I apply for a merit scholarship?
Saint Anselm automatically considers all qualified applicants. We base selection on rigor of your high-school curriculum, secondary school grade-point average, rank in class, standardized test scores, overall superior academic performance, and extracurricular involvement.
Can middle-income families with relatively high incomes qualify for financial aid?
Yes. Families with two or more children in college at the same time, for example, often demonstrate financial need even though they might be considered in the upper-middle income category. The average family income of Saint Anselm freshmen receiving need-based grant or scholarship aid for 2017-18 is $120,694. Students who believe they need financial assistance to meet the cost of attending Saint Anselm College should apply for financial aid.
Applying for Aid
What is the difference between the PROFILE and FAFSA? Why do I need both?
The FAFSA is required of every student who wants to be considered for federal student aid and most state funds. It collects information to establish your eligibility for federal and state student aid. PROFILE is a supplemental form required by Saint Anselm College and many other private colleges and universities to determine your eligibility for Saint Anselm College need-based funds.
If you plan to take a leave of absence or withdraw from Saint Anselm College, you should schedule an appointment with the Business Office to discuss the financial implications of that decision. Withdrawing from Saint Anselm College during the semester may entitle you to a partial refund depending upon the date of departure. The total amount of your refund will be determined according to Saint Anselm College and federal refund policies. We must return all unused money to the federal government. Please note that if you withdraw, you could owe money to Saint Anselm.
The FAFSA asks for tax information from my parents and me. What should I do if I haven’t filed my tax returns?
You may fill out your FAFSA using estimated tax information. You’ll have the opportunity to correct this information when you receive the processed Student Aid Report (SAR). It’s better to use estimated tax information than risk missing the financial-aid deadline.
What kind of refund can I expect to receive if I withdraw from Saint Anselm?
If you completely withdraw from the College, allowable charges are determined by the College refund policy detailed in the catalogue. For the purposes of paying the costs that Title IV aid will not cover, all state and outside aid will apply. We will pro-rate your institutional aid and tuition according to the length of time enrolled until week six of the semester.
What should I do if I have special circumstances not indicated in the FAFSA?
Send a letter detailing those circumstances, along with appropriate documentation, to the Saint Anselm College Office of Financial Aid. Examples of special circumstances could be loss of employment, unusually high medical expenses, or reduced income. Upon receipt of your letter and documentation, your eligibility will be re-evaluated.
I consider myself independent. Can I file as an independent student?
We believe financing your education is a family responsibility to the extent your family is able to help. Undergraduates who have living parents generally are required to file as dependent students. You may not file as an independent student unless you have highly unusual circumstances. Talk to a member of the financial aid staff if you think your circumstances warrant filing as an independent student.
What happens if I take a leave of absence or withdraw from Saint Anselm?
Week Refund 1-2 80% 3 60% 4 40% 5 20%
Housing refunds are calculated on a monthly basis and resident meal plans are prorated on a per diem basis.
How Financial Aid is Determined
How do I ensure an accurate reflection of my family's current financial situation?
Special Circumstances and Professional Judgement Process (PDF/213KB)
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. Please refer to Dates and Deadlines and choose the appropriate checklist for which the student is applying. Returning students will be notified beginning in Spring 2018 if they have a complete financial aid application on file. (NOTE: Students are notified of merit awards when offered admission to Saint Anselm.)
Change of Residency Status
Will my financial aid change if I decide to live off-campus?
Your need-based and non-need based financial aid (including merit scholarships) will be affected by a change in residency status. Please contact the Office of Financial Aid as soon as possible if you are considering a move from on- to off-campus or vice versa. We will create a workup for you which details the difference in your financial aid and affect on your bill for on- vs off-campus.