Undergraduate Financial Aid
We understand that a college education is a significant investment and that figuring out how to afford it can be confusing. We're here to help! How?
- We begin with transparent pricing. Rosemont's base tuition is well below that of similar institutions. Why? Because Rosemont believes the standard higher education pricing model—that prices high at the onset, then heavily discounts through the aid process—is unecessarily confusing and misleading to families. Rosemont follows a more transparent low price/low discount model. We trust that families will value this honest approach, and will consider the bottom line cost when comparing aid packages.
- We partner with families to make the financial aid process understandable. Financial aid is both highly regulated, and different by institution. Because of this it can be confusing—and at at times frustrating—for families. We have developed a series of reference guides to support families in applying for, and understanding the financial aid packages they receive. These are provided below, but we also welcome families to contact us at firstname.lastname@example.org with questions at any time throughout the process.
To aid families in understanding the financial aid process we have outlined the following below:
- Types of financial aid
- A summary of the financial aid process
- Helpful resources & quicklinks
The most important things families can do in the financial aid process is to send Rosemont their FAFSA by entering our school code (003360) when they complete and submit the Free Application for Federal Student Aid (FAFSA®).
Types of Financial Aid
Financial aid consists of grants, loans, scholarships, and work study. Financial aid can come from a variety of sources: federal and state, institutional, and private. The Federal Student Aid site provides a comprehensive guide for families to understand the types of aid available to them.
- Grants: funds awarded based on a families estimated financial need. These funds do not have to be repaid. Families may be eligible for government funded grants—federal or state—as well as from the institution. Rosemont automatically considers eligiblity for government and institutional grants in the aid process for families who have submitted a FAFSA (see below for details on how to submit a FAFSA). Learn more about federal grants on the Federal Student Aid site here.
- Loans: funds offered through both federal and private lenders, that are borrowed and must be paid with interest. Loans have different terms and conditions, it is important for families to understand these prior to choosing to borrow the funds. The most common question we receive is what the difference between unsubsidized and subsidized loans is. Unsubsidized loans accrue interest throughout the time of the loan, while subsidized loans do not begin incurring interest until a student ceases attendance at the institution. Learn more about federal loans on the Federal Student Aid site here.
- Scholarships: Scholarships are gifts, that do not need to be repaid. There are many sources of scholarships. Rosemont offers merit scholarships for students who demonstrate academic achievement. We also offer a number of endowed scholarships that eligible students are considered for. And there are numorous other scholarships sources families should research including those offered by employers, individual foundations, private companies, nonprofits, communities, religious groups, and professional and social organizations. Learn more about scholarships on the Federal Student Aid site here.
- Work study: a need-based federal program that allows students to earn money to pay for school by working part-time. This aid is not included in students packages, rather students must secure a work-study funded position and will receive payment for hours worked. Learn more about the Federal Work-Study Program on the Federal Student Aid site here.
The Financial Aid Process
- Step 1: Submit your FAFSA. On October 1st of each year the Federal Government opens the Free Application for Federal Student Aid (FAFSA®) form. Families are highly encouraged to complete this form as it is the only way institutions like Rosemont can evaulate what federal and state aid a student is eligible to receive. It is also how many institutions evaluate institutional grant eligibility, so it's a good idea for even families who don't think they would be eligible for government funding to complete the FAFSA. To send your FAFSA to Rosemont enter our school code (003360). Completing the FAFSA is not as daunting as it seems. Please reference the Federal Student Aid website and take a look at seven easy steps to the FAFSA. NOTE: The priority FAFSA filing deadline for Rosemont College is January 15. Completing your FAFSA early will expedite the processing of your financial aid. If you are a Pennsylvania resident, then you must file the FAFSA before May 1 to receive consideration for a state grant.
- Step 2: Receive your Initial Aid Package*. After we receive your FAFSA and you've been admitted to the college, you will receive an email—the the email address used to complete your FAFSA—outlining your initial financial aid award that indicates the types and amount of aid you qualify for based on the expected family contribution (EFC) determined on your FAFSA, and your provided high school GPA. Your award letter will also notify you of any additional information needed to complete your financial aid file or to resolve any issues with your FAFSA. If you choose not to submit a FAFSA, but are eligible for a merit scholarship and/or any type of tuition discount or other scholarship, we will notifiy you—but this will not include any federal or state funding. If you choose not to submit a FAFSA, and are not eligible for any institutional merit or scholarships, you will NOT receive any financial communication.
- Step 3: Determine your Balance Due. Understanding your financial aid package and how much a Rosemont College education will cost you is important. We have developed this worksheet to assist you in calculating the balance due after your financial aid has been applied to your institutional charges.
- Step 4: Complete the Steps to Finalize Your Aid.
Submit your enrollment deposit. If you haven't already, you must finalize your enrollment at the college by submitting your deposit (which goes toward your first bill) at Rosemont.edu/deposit.
Let us know you are ready to finalize your aid. Once you formally enroll at Rosemont by submitting your deposit at Rosemont.edu/deposit you will receive your Rosemont email address and gain access to Rosemont’s student web portal where you will receive directions on how to finalize your Financial Aid. This access may take up to 72 hours.
Complete and submit outstanding documents. You may be required to provide additional data in order to receive Federal Student Aid.
- Student Loan Related Forms: To accept loan funds families may be required to complete several federal forms. If you have not yet completed these, you will be required to complete the following
- Selective Service Registration (the Federal Government requires males 18-24 to register with Selective Service to be eligible for federal aid. If a student did not self opt-in on the FAFSA they must complete this registration)
- Verification Forms: The law says that before awarding Federal Student Aid, the Federal Governemnt may ask families to confirm the information reported on their FAFSA prior to funds being confirmed:
- Judgement Request Forms
NOTE: Financial aid packages are subject to change. There are a number of reasons why your financial aid might need to be updated. This may include, but is not limitted to:
- Changes in enrollment or housing status
- Changes to your FAFSA that can occur through loan verification or corrections you make.
- Receipt of additional aid—like external scholarships—that the college was not aware of when aid was awarded.
Helpful Resources & Quicklinks
- 2023-2024 FAFSA
- Worksheet to estimate final costs
- Finalize Federal Loans
- Entrance Counseling
- Master Promissory Note (MPN)
- Parent Plus Loan Application
- Judgement Request Forms
Typically, financial aid is finalized and posted to your student account during the first couple weeks of each semester. If your financial aid exceeds your charges, then you will be issued a refund, which can be used for educational expenses such as books or transportation. Refunds checks are issued by the Office of Student Accounts after the aid has actually credited your student account.