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.
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.
What does the CSS Profile cost?
The student/custodial parent's CSS Profile:
- The student and the custodial parent pay a $25 fee, which covers the CSS Profile application and one college or program report. Additional reports are $16.
- Payment may be made via credit or debit card.
- Fee waivers are granted - based on an SAT fee waiver or on the information entered on the CSS Profile application - to eligible low-income students. For information about fee waiver eligibility, consult cssprofile.org. CSS Profile is completely free to students who receive a fee waiver.
The student's non-custodial parent's CSS Profile:
- The student's noncustodial parent pays a $25 fee for the CSS Profile application.
- Payment may be made via credit or debit card.
- A fee waiver may be granted for low-income parents based on the information entered on the noncustodial parent's application. CSS Profile is completely free to noncustodial parents who receive a fee waiver.
Do I need to complete a CSS Profile every year?
If you have completed a CSS Profile and submitted all tax documents requested in a prior year for Saint Anselm, then you only need to complete the FAFSA in subsequent years. Please note, however, that in our review of your FAFSA, we may reach out for additional information.
How do I complete the CSS Profile if my parents are divorced or separated?
Both the custodial parent and the noncustodial parent need to complete a CSS Profile. We recommend that the student and custodial parent start the CSS Profile application first. Although the noncustodial parent can start the application at any time, the noncustodial parent will not be able to complete the application until the student selects a college that requires both divorced or separated parents to complete a CSS Profile. Key things to remember:
- Both parents use the same CSS Profile website, but complete their own CSS Profile application.
- Each parent accesses their CSS profile with different College Board accounts/log-in credentials.
- The noncustodial parent needs to create a College Board account before providing their information.
- Each household should not share their account/log-in credentials with each other to maintain the confidentiality of their applications.
- The noncustodial parent does not need a password or code to start the second application.
- Information for Divorced or Separated Parents section on the College Board website includes more helpful explanations and instructions.
The FAFSA asks for tax information from my parents and me. What should I do if I haven’t filed my tax returns?
The FAFSA uses income tax information from two years prior. For example, for the 2020-2021 FAFSA, you will enter your and your parent's 2018 federal tax information. However, if you or your parent have not yet filed your 2018 taxes, 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 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.
How do I access my financial aid offer?
- Admitted Students:
In addition to a mailed copy of your financial aid offer, an online copy of your financial aid offer is sent to the email address you used on your Common Application. You can also view the details of your financial aid offer on your Net Partner financial aid portal.
- Current Students:
The details of your financial aid offer is available to view on your Net Partner financial aid portal (accessed via your MyAnselm portal - click on My Finances, then My Financial Aid, and finally My Financial Aid Information-Net Partner).
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 study), 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. Students who believe they need financial assistance to meet the cost of attending Saint Anselm College should apply for financial aid.
What happens if I take a leave of absence or withdraw from Saint Anselm?
If you plan to take a leave of absence or withdraw from Saint Anselm College, you should schedule an appointment with Student Financial Services (firstname.lastname@example.org) 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.
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/163KB)
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 aid 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 offer?
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 financial aid offer 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 2020 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 may 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.
Loans/Managing Debt/Financial Literacy
What is the difference between a subsidized and unsubsidized Federal direct loan?
For subsidized loans, the government pays the interest on the loan while you are going to school. Interest begins accruing on subsidized loans 6 months after you graduate or cease attending at least half-time.
For unsubsidized loans, interest begins accruing on the loan from the date the loan posts to your student account. It is strongly recommended that you make regular payments for at least the minimum monthly accrued interest. At the time of loan repayment (6 months after you graduate or cease attending at least half-time), any unpaid accrued interest will be added onto the principal of the loan ("capitalized") and you will then pay interest on your interest. Please contact your loan servicer to determine what you may owe in accrued interest.
How do I accept the Federal Direct Loans offered?
The Federal Direct Loan(s) included with your financial aid offer are automatically accepted on your behalf. However, in order for us to disburse your loans to your student account, you must complete two requirements:
- Direct Loan Entrance Counseling
- Direct Loan Master Promissory Note
Both of these must be completed at Federal Student Aid (log in with your (student's) Federal Student Aid ID and password (same ID as used to complete your FAFSA).
How do I decline my Federal Direct Loans?
The Federal Direct Loan(s) included with your financial aid offer are automatically accepted on your behalf. If you choose to reduce or decline your direct loan(s), you must contact the Office of Financial Aid @ email@example.com or (603) 641-7110. If the direct loan has already disbursed to your account, you have 120 days from the date of disbursement to decline or reduce the loan and we will return the loan (or portion of loan) for you. If the request is after the 120 days, then you would need to make the payment directly to the loan servicer.
How do I find out who my loan servicer is?
Soon after your first federal direct loan posts to your student account, your loan servicer will send you an email (to the email address you used when you created your Federal Student Aid ID) encouraging you to create an online account to monitor your federal direct loans.
You can also find your loan servicer by logging into NSLDS (the National Student Loan Data System) with your Federal Student Aid ID and password (the same ID and password as used for completing the FAFSA). From your loan history, click on loan details to find contact information for your loan servicer.
Where can I find more information on my loan repayment options?
Federal Student Aid provides detailed information on the different loan repayment options.
We have also teamed up with Solutions at ECMC. This vendor is a great resource for one-on-one loan counseling while you are a student here and anytime after you graduate. In addition to tools like loan repayment calculators, Solutions at ECMC has many financial literacy short videos on topics including budgeting, credit, debt management, etc. Check them out online and follow them on Facebook and Twitter!
And, of course, you can make an appointment with the Office of Financial Aid to review loan repayment options as well.