Basic Requirements | Renewal of Financial Aid | Contact Us
Rosemont College understands the commitment families and students make in order to fund a college education. Earning a college degree is an investment, and as such, is one of the most important financial decisions a family can make. The Office of Financial Aid and the Office of Admissions at Rosemont College are committed to helping students identify their needs and utilize the resources that are available to them. Over 90 percent of Rosemont' s students receive some form of financial assistance, either through academic merit scholarships, entitlement awards, and/or institutional gift aid. Rosemont is committed to helping families and students explore these options regardless of income level. Our ultimate goal is to develop an individualized financial aid package for each student.
A number of options for need-based assistance are available to Rosemont students. Need-based assistance, may be in the form of grants, loans, scholarships, and/or college work-study. In order to determine eligibility for this assistance, students and families must first apply.
How to Apply for Financial Aid
To apply for need-based assistance, each student must complete the Free Application for Federal Student Assistance (FAFSA) any time after January 1 the same year the student plans to attend Rosemont. (Do not file the FAFSA form before January 1. Applications filed before January 1 will not be accepted.) The FAFSA form can be obtained and submitted online at www.fafsa.ed.gov. Copies can also be obtained from high school guidance counselors, public libraries, or the Rosemont Office of Financial Aid.
The sooner a student submits her FAFSA form, the better the chance that funding will be available. For priority consideration, the FAFSA form should be filed no later than February 15.
There are several important points to remember when filling out and filing your FAFSA form:
- Rosemont's federal FAFSA code is 003360. By including this code in the FAFSA application, each student's information and eligibility status will automatically be passed on to the Rosemont College Office of Financial Aid.
- If filing manually, mail a copy of the signed and completed FAFSA form to the Rosemont College Office of Financial Aid to save several weeks of processing time.
- Keep copies of W-2 forms and income tax returns readily available at all times should they be needed for future reference.
- Each student must reapply for aid each year by completing a FAFSA renewal form.
- Make copies of the completed FAFSA form and personal documentation before filing via the mail or online.
- A U.S. Department of Education issued PIN is needed in order to electronically sign and submit the FAFSA, Renewal FAFSA, or Corrections FAFSA forms via the World Wide Web. A PIN can be requested at www.pin.ed.gov.
- Each state varies, but students are usually required to file additional forms with their respective state agencies in order to be eligible for state grant programs. We encourage each student to contact their state' s grant agency or the Rosemont Office of Financial Aid if more information on any of these programs is needed.
The Financial Aid Package
The FAFSA form determines what each respective student's level of financial need is based on family income and tuition costs. Institutional financial aid packages will be prepared once the Office of Financial Aid has received all financial data and the student has been accepted. Parents and students are encouraged to contact the Office of Financial Aid if they have any questions regarding Rosemont's financial aid programs. Staff members are also available for individual counseling or to help guide parents and families through the application process. We are also aware that personal situations do change. If changes need to be made to your financial aid information please call 610.527.0200, ext.2220 or 2221, or send an email to finaid@rosemont.edu.
In addition to merit-based scholarships, Rosemont College also participates in the federal Tile IV financial aid programs, state grant, and scholarship programs, and offers need-based grants and campus employment opportunities to qualified students.
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Grants and Other Financing Options
Federal Pell Grant - Title IV entitlement grant, awarded to students as determined by federal regulation.
Federal Supplemental Education Opportunity Grant (FSEOG) - awarded to students with exceptional financial need on a funds-available basis.
Federal Stafford Loan - student loan program subject to federal regulation, which allows the student to borrow a low-interest loan for educational costs from a participating lender. First year students can borrow up to $ 2625 for the academic year, second year students can borrow up to $ 3500, and third and fourth year students can borrow up to $ 5500 per academic year. If the student has demonstrated financial need as determined by the federal government, the loan will be "subsidized" with the federal government paying the interest on the loan while the student is enrolled in school, and during the subsequent grace period. The interest on the loan is capped at 8.25%. Standard repayment terms allow for a ten-year repayment with many lenders offering discounts for on-time payments or debits from bank accounts. Deferment, forbearance and alternative payment arrangements are also available.
Federal Perkins Loan - low-interest student loan program offered to students with high financial need as determined by federal regulation, funded by the College. Students must first use their maximum eligibility in Federal Stafford Loan funds. The College prepares the paperwork for student signature at the start of the academic year.
Federal Work Study Program - on and off-campus employment opportunities for students with demonstrated financial need as determined by federal regulation. Students are paid bi-weekly based on the actual number of hours worked. Earnings can be used for current and future educational expenses.
State Grant Programs - need based (and sometimes merit-based) grant programs offered to students based on official state residency:
Pennsylvania students are eligible for state grant funding to attend Rosemont College, subject to financial need, residency requirements and other criteria. The student's financial aid data from the Free Application for Federal Student Aid must be received by the state grant Agency (PHEAA) prior to May 1 of the upcoming academic year. Students are asked to file the FAFSA no later than April 1 to ensure timely receipt for state grant consideration. Students can receive up to eight semesters of state grant funding.
Non-Pennsylvania residents may be eligible for state grant funding from their home state to attend Rosemont College. Contact your state grant agency for specific information, including program and award limits, portability of state grant funds, and filing and renewal deadlines.
Need-Based Grants - Rosemont College offers institutional grants based on demonstrated financial need on a funds available basis. Awards are limited to a maximum of eight semesters of full-time undergraduate study. Award amounts can range from $ 500 to $ 10,000 per year.
Campus Employment Program - offers a limited number of students who do not qualify for the Federal Work Study Program the opportunity to work at various on-campus jobs and earn funds to pay for education-related expenses.
Additional Financing Options - Rosemont offers a variety of alternative financing options to help pay educational costs associated with attending the college. These options include:
Monthly Payment Option - allows the family to pay the annual cost with ten (10) equal installments; additional information is available from the Office of Student Accounts.
Federal Parent Loan for Undergraduate Students (PLUS Loan) - allows the parent to borrow on behalf of their daughter at a low interest rate, with funds supplied by a participating lender. The interest rate is variable, capped at 9%; many lenders offer repayment plans that include deferment of principal while the student is enrolled in college.
Alternative Loan programs - many lenders offer a variety of alternative loan programs, allowing the student to be the primary borrower with a credit-worthy co-signer. Interest rates, repayment terms and loan limits vary among program participants. Specific program information is available from a Rosemont College Financial Aid Counselor.
All families are urged to contact the Financial Aid Office directly with specific program questions.
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Basic Requirements
All financial aid programs are subject to a variety of regulations and policies. Federal regulations apply to all federal and Title IV programs; state law governs state grant eligibility and administration; and Rosemont College policy, along with federal regulations, regulates the awarding and disbursement of institutional funds:
BASIC REQUIREMENTS
All students must complete the Free Application for Federal Student Aid (FAFSA) no later than April 1; it is strongly suggested that stduents file the FAFSA by February 15 for priority packaging consideration. The FAFSA can be filed either on paper or on-line. Paper copies of the current FAFSA form are available in most high school guidance offices and at Rosemont College Financial Aid Office. Paper FAFSA forms are also mailed to all applicants for admission to the college. To file on-line, both the student and the parent need a PIN number & application for a PIN can be made at www.pin.ed.gov. The FAFSA can be completed on-line at www.fafsa.ed.gov.
Federal regulation requires the student to meet the following criteria to receive financial aid:
- Must be accepted as a degree-seeking candidate
- Must be a United States citizen or eligible non-citizen
- Must not have been convicted of illegal drug use
- Must not be in default of any prior loan or owe a refund on a federal grant
All programs, with the exception of the Federal Stafford Loan and Federal Pell Grant, require the student to be enrolled on a full-time basis (12 credits per academic semester). Regulations allow the student to be enrolled on at least a half-time basis (6 credits per academic semester) to borrow from the Federal Stafford Loan Program; Federal Pell Grant funds can be awarded for as little as _ time enrollment (3 credits per academic semester). State grant funds may be available to students enrolled on at least a half time basis (6 credits per academic semester), subject to state regulation and certain criteria.
Rosemont College performs verification of financial data submitted by students and families in accordance with federal regulations. If selected for verification, certain documentation, including parent and student federal tax returns and W-2 forms, must be submitted to the Financial Aid Office. No funds will be disbursed until the verification process is complete.
Private scholarship awards are regarded by federal regulation as an additional financial resource for the student and must be reported to the Financial Aid Office.
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Renewal of Financial Aid
Students must renew their financial aid every year by completing the FAFSA form no later than April 1. College-funded grants and merit scholarships usually are renewed for the same amount each year. Renewal is subject to federal and state regulations, satisfactory academic progress, good academic standing, compliance with cumulative grade point averages, if applicable, and availability of funds.
In accordance with federal and state regulations, the academic progress standard must be met for a student to be eligible for financial aid renewal. For full time enrollment, the student must successfully complete (with a grade of "D" or better) a minimum of 24 credits in an academic year (12 credits per academic semester) to meet the academic progress standard. Students who are enrolled on a less-than-full-time basis will be expected to successfully complete a minimum of 75% of all courses attempted.
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Contact Us
For more information on financial aid or scholarships, contact any of the following individuals:
Melissa Walsh
Director of Financial Aid
Good Counsel
Ext. 2220
mwalsh@rosemont.edu
Roberta Treinish
Counselor
Good Counsel
Ext. 2236
rtreinish@rosemont.edu
Valerie Johnson
Counselor
Good Counsel
Ext. 2221
vjohnson@rosemont.edu
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