Students have many options when it comes to financing their education. Some forms of aid (scholarships and grants) come as gifts from the College. To receive need-based Saint Anselm grants, a student needs to complete the CSS Profile. If a student wishes to apply for state or federal grant aid, they need only complete the FAFSA. Other resources come from private, outside sources. Grant aid does not need to be repaid. Low-interest student and parent loans also bridge the gap when financing your education.
Merit aid is offered by the Office of Admission, in the form of College scholarships, to students who display exemplary academic credentials. Visit the Scholarships section below and Frequently Asked Questions section of this site for more information about merit aid.
Need-based aid covers all scholarships and grants. Unlike loans, the money received is a gift and does not have to be repaid. This includes Saint Anselm College scholarships as well as state and federal government grants and scholarships.
It is common for many of our students to include loans as part of their financial aid package. These loans generally hold low interest rates and offer long-term repayment plans. The Federal Direct Subsidized and Unsubsidized Loans are the most common loans undertaken by college students. To receive a federal loan, a student must complete the FAFSA. Eligibility for a Direct Subsidized Loan is based on demonstrated need. For additional information on loans, please visit Apply for Loans.
Federal Work Study (FWS)
The Federal Work Study program offers students with demonstrated need the opportunity to meet some of their indirect costs by working part time on campus or off campus at an approved nonprofit agency for at least minimum wage. Students are authorized to earn up to a specified amount; however, they are not guaranteed employment to that level. To get FWS the student must complete the FAFSA and have need for the resource. The college assists students with their job search, but students must locate their own jobs.
We view college loans as one part of an investment in a student's future. Listed below are some of the more popular loans available to Saint Anselm students and information on how to select the appropriate lender.
- Federal Subsidized and Unsubsidized Direct Loans
- Federal Parent PLUS Loan
- Federal Perkins Loan
- Alternative Loan
Most Saint Anselm students will borrow from the federal student loan programs. Approximately 81% of the 2016 graduating class borrowed an average of $26,464 of federal student loans (Direct and Perkins Loans) over their four years. The yearly loan limit for the Direct Subsidized Loan is $3,500 in the freshman year, $4,500 in the sophomore year, and $5,500 both in the junior and senior years. In May 2008 HR5715 passed and allowed students the eligibility to borrow an additional $2,000 of Unsubsidized Direct Loan per year.
The lender for the Federal Direct Loan Program and the Parent PLUS loan program is the U.S. Department of Education.
Students are able to select a lender of their choice for alternative loans. To choose a lender, we recommend that you begin your research with your existing bank followed by state agencies or other larger banking institutions.
Please see the Resources and Links for more information on the loan application process.
The federal Direct Loans offer a low-cost resource that is federally protected, unlike alternative loans. There is no debt-to-income ratio required. A student may choose repayment options that meet their individual needs, including deferment options. We strongly recommend that a student take advantage of the federal loans before opting for alternative loans to save money in interest payments.
The federal government pays the interest on a subsidized loan while a student is enrolled, but does not do so on an unsubsidized loan. If a student receives an unsubsidized loan, they are responsible for interest during the in-school and deferment periods. The student may choose not to pay the interest while in school; however, capitalizing the interest will increase the overall loan principal in repayment.
The PLUS Loan is a federally guaranteed, low-interest loan for parents of dependent, undergraduate students. Parents may borrow up to the cost of their student's attendance minus any other financial aid for which the student is eligible. If a parent desires this resource, the parent borrower must request the loan at studentloans.gov. The Office of Financial Aid will include this loan as part of the student's financial resources when all credit requirements are met. Only one parent needs to apply. For assistance in estimating the PLUS Loan amount use the Budget Worksheet found on the Resources and Links page.
If the PLUS loan request is denied and the parent chooses not to pursue the PLUS loan, the student may be eligible for an additional unsubsidized loan of $4,000 in the Freshman and Sophomore year and $5,000 in the Junior and Senior year.
Federal Perkins Loan
Saint Anselm administers a limited number of Perkins Loans to students with exceptional financial need in order to supplement a student's Federal Direct Loan eligibility. A student may borrow up to $27,500 over five years in the Federal Perkins Loan program. Repayment of the loan begins nine months after the student leaves college or graduates and does not accrue interest until that time. The interest rate is fixed at 5%. The Federal Perkins Loan is a revolving federal loan fund. The amount of Perkins Loan a qualifying student can borrow may vary from year to year. A typical award ranges between $1,500 to $2,500 per year depending on available funding. Note: As of October 1, 2017, the Federal Perkins Loan program is not available for new borrowers.
Saint Anselm works with any participating lender. If a student chooses an alternative loan we recommend that the student take that loan in the student's name with a parent co-signer (generally required freshman year) to obtain the best interest rate. Eligibility for these loans depends on the borrower and co-signers credit-worthiness. Families are encouraged to review all options carefully before considering alternative loans, as the interest rate is much higher than that of federal student loans. For assistance in estimating the Alternative Student Loan amount use the Budget Worksheet found on the Resources and Links page.
Listed below are some of the more common grants that Saint Anselm students receive as part of the financial aid package.
The Federal Pell Grant is gift assistance for undergraduate students; it does not need to be repaid. The U.S. Department of Education determines a student's eligibility for this grant each year after the student completes the FAFSA. The Federal Pell Grant Program provides grants directly from the federal government in amounts ranging from $606 to $5,920 per year, depending upon the financial circumstances of each family.
Federal Supplemental Educational Opportunity Grant (FSEOG)
FSEOG is gift assistance that does not need to be repaid. Federal regulations mandate that students with exceptional need receive this grant and priority is given to Pell Grant recipients. Award amounts vary from year to year based on federal funding and the number of eligible applicants. Awards range from $200 to $4,000.
State Scholarships and Grants
Very few state grants are portable from a student's home state. Historically, VT, RI, and PA have awarded grants to Saint Anselm students. Check with your home state about eligibility and deadlines. Once we are notified of award amount and student eligibility is certified, the state grant will be added to the student's financial resources.
Local Scholarships and Awards
We strongly urge all students to apply for outside scholarships available from guidance counselors, the Web, and local civic and business organizations. Saint Anselm College is a matching partner in the Dollars for Scholars (Scholarship America) Program.
Scholarships and Non-Need-Based Aid
Saint Anselm offers many scholarships and awards that are based on your academic achievement, demonstrated leadership skills, or other criteria. You will be considered for these renewable scholarships based on your admission application and, in some cases, your financial aid application. Please refer to the financial aid section of the College Catalog for a complete listing of scholarships.
College Policy Concerning Merit or Non-Need-Based Awards
You may receive more than one non-need based grant or scholarship not to exceed the cost of tuition. If you apply for need-based aid they will become a part of your need-based package according to institutional parameters.
We encourage you to apply for all resources that you can.
- All scholarships and other non-need-based awards will be renewable annually provided you maintain the grade point average and/or other criteria designated by each program.
- All merit and non-need-based awards will be offered for a maximum of four years.
- Your scholarship/grant will be incorporated into your total need-based financial aid package, not offered in addition to it.
Chancellor Honors Scholarship (up to $24,000)
Saint Anselm College Office of Admission Offers Chancellor Scholarships to highly qualified students in each freshman class. These awards are offered in amounts of up to $24,000 per year. As a Chancellor Scholars you are invited to join the Honors Program. You may keep your scholarship as long as you maintain a 2.6 Cumulative Grade Point Average (CGPA) at Saint Anselm. The scholarship amount listed here is based on a student's residency status of on-campus. The amount will be reduced if a student's residency status changes to off-campus or commuter.
Other Merit Scholarships (up to $20,000)
Saint Anselm College Office of Admission Offers various merit scholarships to talented students. All scholarships are awarded for a maximum of eight semesters.
The scholarship amounts listed here are based on a student’s residency status of on-campus. The amounts will be reduced if a student’s residency status changes to off-campus or commuter.
- Presidential Scholarship (up to $20,000) - Students must maintain a 2.4 CGPA to retain the scholarship
- Dean's Scholarship (up to $14,000) - Students must maintain a 2.2 CGPA to retain the scholarship
- Abbey Scholarship (up to $12,000) - Students must maintain a 2.0 CGPA to retain the scholarship
A family with two (or more) children concurrently enrolled as matriculated full-time Saint Anselm students will receive a Family Grant. A $6,000 grant is provided for each sibling beyond the first (i.e. $6,000 for two siblings, $12,000 for three siblings, etc.). The grant is divided equally between siblings.
The College sets aside a limited amount of merit-based funds for students who demonstrate strong academic ability, leadership skills, outstanding community service, a special talent, or other personal strengths and accomplishments. These merit awards are granted for achievement, not financial need. Recipients are selected by the admission committee in concert with other college community members.
Saint Anselm has received many gifts for scholarship assistance from alumni, corporations, and friends of the college. Students receive these need-based scholarships based on academic, leadership, and other criteria. There is no separate application. They are awarded to students as part of their need-based financial aid package.
Apply early in the cycle. Most scholarship applications are due by May 1 or earlier for the following fall semester. Note: We do not endorse any particular scholarship program but offer these as a place to begin your search.
SALT Scholarship search www.saltmoney.org College Board Scholarship Search www.collegeboard.com/paying FastWeb (Financial Aid Search Through the Web) www.fastweb.com New Hampshire Charitable Foundation www.nhcf.org Hispanic Scholarship Fund www.hsf.net Dollars for Scholars www.scholarshipamerica.org Scholar Aid www.scholaraid.com MyScholly https://myscholly.com/#scholly Hispanic Association of Colleges & Universities www.hacu.net CampusRN newhampshire.campusrn.com
Many Web sites search for college-specific scholarships. For example, FastWeb combs college catalogues looking for any scholarships a school might list. When you search FastWeb, you’ll receive a list of many of Saint Anselm College’s endowed scholarships. It will ask students to contact the Office of Financial Aid for more information. There is no separate application for Saint Anselm College endowed scholarships with the exception of a few that students must be nominated by faculty and administration to receive. In general, these are restricted, need-based resources that we use to fund appropriate candidates.
Saint Anselm College is a collegiate matching partner in the Dollars for Scholars (Citizen's Scholarship Foundation of America) Program. We will match up to $1,000 of your Dollars for Scholars Scholarship provided you complete and send us the Matching Grant Form. The College will follow the Dollars for Scholars guidelines of eliminating unmet need, loan and work before adjusting grant aid.
Don’t forget to check school and local libraries, local business and civic organizations, parishes, and parents’ employers for scholarship applications. In addition, Saint Anselm College posts scholarship opportunities on the bulletin board outside the Office of Financial Aid.
Do not pay anyone who claims to be holding a scholarship for you. If you have to pay to claim it, it is probably a scam.
The Federal Trade Commission cautions that perpetrators of financial aid fraud often use these telltale lines:
- The scholarship is guaranteed or your money back
- You can't get this information anywhere else
- I just need your credit card or bank account number to hold this scholarship
- We'll do all the work
- The scholarship will cost some money
- You've been selected by a "national foundation" to receive a scholarship or "You're a finalist," in a contest you never entered
To file a complaint, or for free information, students or parents should visit www.ftc.gov/scholarshipscams.