2013-2014 Undergraduate Catalog 
    
    Sep 22, 2018  
2013-2014 Undergraduate Catalog [ARCHIVED CATALOG]

Financial Aid


 

The Office of Financial Aid provides information and counseling on financial aid and other options for financing college costs. The University website, www.salve.edu, contains a great deal of information as well as helpful financial aid links, including links to all required forms. For further information on any of the financial assistance programs described, write or call the Office of Financial Aid at Salve Regina University.

Application Process

Priority deadlines for filing all financial aid forms are March 1 for the fall semester and December 15 for the spring semester. Verification materials must be submitted by May 15 for the fall semester and January 15 for the spring semester.

New Students:

All students who are planning to attend Salve Regina University for the first time (new freshmen and transfers) must submit the following forms:

  • The CSS Profile.
  • The Free Application for Federal Student Aid (FAFSA).

Both forms are available online and links may be found in the Financial Aid section of the Salve Regina website. All verification materials will be requested by mail or email and should be sent to the Office of Financial Aid

Verification materials may include:

  • Federal IRS Tax Transcripts and/or signed copies of both student and parents’ federal tax returns (or statement of not filing).
  • Copies of all W-2’s.

Returning Students

Renewal of financial aid is not automatic. Each year students must submit the Free Application for Federal Student Aid (FAFSA) by March 1st. If a returning student is selected for verification, documentation information will be requested by mail or e-mail and should be sent to the Office of Financial Aid.

Eligibility Requirements

To be eligible for financial aid at Salve Regina University, a student must:

  • Be a citizen or legal resident of the United States.
  • Be enrolled at least half-time (two courses [6 credits] per semester) and be accepted as a candidate in a degree or certificate granting program.
  • Be making satisfactory progress toward the completion of the course of study.
  • Not be in default on a Federal Perkins Loan or a Federal Stafford Loan.
  • Not owe a refund on a Federal Pell Grant or Federal Supplemental Education Opportunity Grant.

Special Note

Since rules, regulations, and requirements change each year, all students who feel that they have financial need are encouraged to apply, rather than concluding that they are ineligible. Also, since a student’s eligibility status could change during the college years, it can be important to file a new application each year, regardless of the determination made in past years. While Salve Regina University strives to maintain consistent awards from year to year, changes in a family’s financial situation, household size, number of students in college, etc. may necessitate adjustment to an award. Similarly, on-campus and off-campus budgets differ and awards are adjusted accordingly. Offers of aid are made on the assumption that the financial aid programs will be continued and that sufficient Federal funds will be appropriated by Congress. Students who submit late applications must expect delays in aid awards, reductions in grants, and the possibility that funds may already have been exhausted. It is the responsibility of the student to keep home and local addresses current in the Office of Financial Aid to ensure that requests for missing documents are received in a timely manner.

Satisfactory Academic Progress

Students must maintain satisfactory academic progress to remain eligible for financial aid. Satisfactory progress requires a student to complete the bachelor degree within five and one-half years and to maintain the required grade point average (GPA) and sufficient number of credits.

Academic progress for financial aid eligibility is monitored at the end of each academic year. If the minimum requirements for eligibility are not met, the student is not eligible for financial aid until academic standing meets the minimum requirements. In this case, the student may appeal to remain eligible for one semester based on mitigating circumstances. This appeal must be submitted to the Director of Financial Aid, in writing, within two weeks of the notice of ineligibility. If a student is making significant progress toward meeting the minimum requirements, one additional probationary semester of financial assistance may be granted.

Satisfactory Academic Progress standards for part-time study are available in the Office of the Registrar.

Types of Aid

There are three principal types of aid: the scholarship or grant that need not be repaid; the loan that must be repaid (most loans allow liberal repayment periods and low interest rates); and part-time employment (the student is paid hourly and budgets these earnings to meet educational expenses). The U.S. Department of Education website (www.studentaid.ed.gov) is a good source of information describing all federal aid programs.

Scholarships and Endowments

Inquiries concerning grants or scholarships should be directed to the Office of Financial Aid, Salve Regina University, 100 Ochre Point Avenue, Newport, RI 02840. The e-mail address is financial_aid@salve.edu.

The Office of Admissions at Salve Regina University awards academic scholarships to incoming students who meet established criteria. These scholarships are renewable provided that the student maintains the cumulative grade point average (GPA) specified in the scholarship agreement. Admissions also awards the Aquidneck Island Multicultural Scholarship to selected, qualified students who demonstrate need and have a strong commitment to diversity. Scholarship criteria are detailed on the Admissions/Financial Aid website www.salve.edu/Admissions/undergraduate/costfinancialaid.

Regina Scholarships are partial scholarships, awarded each year by the President to approximately five freshmen, five sophomores, and five juniors who have completed the requisite number of credits to achieve standing as sophomores, juniors, and seniors and who have achieved the highest cumulative grade point averages in their classes. These are the only academic scholarships awarded to returning students.

The Salve Regina University grant program is funded in part by the generosity of many individuals and corporations.

State Programs

Many states offer financial assistance to students in the form of grants, scholarships, work, or loans. Specific program and application information about individual state programs may be obtained from the administrative state agencies themselves or from the Office of Financial Aid.

Federal Programs

Eligibility for all Federal financial aid is determined by the U.S. Department of Education, based upon the completed annual FAFSA.

Army ROTC Scholarships/Stipends

Army Reserve Officers’ Training Corps scholarships are available on a competitive basis to qualified students. Each scholarship recipient receives full tuition and fees per year, an annual book allowance of $900, and a $300-$500 monthly tax-free stipend. Scholarships are available for two-, three-, and fouryear terms. In return for the benefits, scholarship winners enter into a contractual arrangement with the United States Army, agreeing to accept a Regular Army or Army Reserve commission as a Second Lieutenant.

National Guard Tuition Assistance

Members of the National Guard may qualify for state-sponsored tuition assistance programs. Students interested in this program should contact their Adjutant General’s office. Members of the Army National Guard may also qualify for Army ROTC tuition assistance benefits under provisions of the Army ROTC Simultaneous Membership Program.

Veterans Administration Educational Benefits

Salve Regina University is approved for veterans’ benefits, including Yellow Ribbon benefits. These benefits are administered through the Office of the Registrar. Interested persons should contact their local V.A. office or phone 1- (888)-GI-Bill1 (1-888-442-4551) for assistance.

Outside Scholarships

Many private philanthropic organizations, foundations, and corporations provide scholarships, grants, loans, and employment opportunities. Local sponsors of such programs include service organizations such as Rotary, Kiwanis, Lions Club, the American Legion, and the PTA. These sources represent significant resources to the student.

For this type of assistance, students generally apply directly to the potential donor and usually the student deals directly with the sponsoring organization. Students are responsible for verifying to the University any outside financial assistance to be applied to their accounts. Students should not rely on outside agencies to do this. Students will find links to free scholarship search services on the financial aid website.

Salve Regina encourages families to seek outside scholarships. The University has very flexible policies regarding the posting of outside scholarships. Whenever possible, these scholarships augment need-based financial aid awards. For further information, please contact the Office of Financial Aid.

Vocational Rehabilitation

Every state operates a vocational rehabilitation program to help people with disabilities return to productive activity. In certain cases the vocational rehabilitation agency will assist a student with disabilities to meet college expenses. If a student receives payments from Vocational Rehabilitation, Manpower Development, or similar assistance programs, the full value of such payments is considered a financial resource.

Renewal of Financial Aid

Renewal of financial aid is not automatic. Recipients are required to apply each year by the announced deadlines. The Office of Financial Aid reserves the right to reduce, increase, or otherwise adjust any financial aid for which it is responsible. For further information regarding any of these financial assistance programs, visit our website, write or call the Office of Financial Aid at Salve Regina.