Financial Aid for First-Year Students | Albright College

Financial Aid for First-Year Students

Apply for financial aid when you apply for admission to Albright College to receive clear answers in a few weeks.

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Applying for Financial Aid

Step 1: Students and Parents: Get your Federal Student Aid (FSA) ID! Your FSA ID makes the signature requirements on your Free Application for Federal Student Aid (FAFSA) a breeze! You will also need an FSA ID to secure your federal student loans. Keep your FSA ID handy as you will use it every year.

Step 2: After Oct. 1, complete Your 2020-2021 FAFSA form. The Albright College Federal School Code for your FAFSA is 003229. DO NOT FORGET! The FAFSA is required for all sources of financial aid.

Get free help! Additional aid may be available if your family’s financial situation has changed. Contact the Financial Aid Office (finaid@albright.edu, 610-921-7515) for more information or if you have questions or concerns.


Tuition and Fees

Tuition and fees for traditional, full time, on-campus, day students for the 2020-2021 academic year are:

Tuition (Full-time)$25,500
Room (Standard double occupancy)$7,050
Board (Gold unlimited meal plan)$5,840
Student Services Fee$1,188
Total$39,578


Dates and Deadlines

Deadlines are important, and the schedules below allow you to get the information you need in a timely manner. They also allow Albright to make sure your transition from applicant to student is as seamless as possible. We look forward to hearing from you throughout these schedules and be sure to contact the Office of Admission if you find yourself falling away from these schedules.

Application DeadlineFinancial Aid DeadlineAdmission NotificationFinancial Aid NotificationStudent Response Deadline
Fall EnrollmentRollingApril 30Rolling (starting in September)Rolling (starting in October)June 1
Spring EnrollmentDecember 15December 15Rolling (starting in November)Rolling (starting in November)January 15

Financial Aid Staff

Our financial aid staff is always on hand to answer your questions and help you navigate the financial aid process.

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Net Price Calculator

Use our net price calculator to help you plan your educational costs here at Albright.

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Who Is Eligible?

To be eligible for federal, state, and college financial aid a student must:

  • Be a U.S. citizen or provide documentation of permanent resident of refugee status.
  • Be degree-seeking.
  • Be registered with the Selective Service, if required.
  • Not owe a refund on a federal grant or be in default on any federal educational loan.
  • Have not been convicted for the possession or sale of illegal drugs during a time when receiving federal student aid.
  • Be making federal satisfactory academic progress (SAP) and be in good academic standing at the college.
  • Complete the FAFSA (for federal and some state aid only).
  • Comply with all requests from the Albright College Financial Aid Office with regard to federal verification: Tax transcripts, 1040x forms, W-2s, or any other document requested by the office.

Determining Your Status

All students accepted by Albright College as degree-seeking candidates are eligible to apply for financial aid using the FAFSA. Funds provided to Albright College from federal and state sources are awarded to United States citizens and permanent resident aliens. When determining your eligibility for Federal, State and Albright College financial aid, your enrollment status is defined as follows:

Full-Time enrollment status is considered to be three courses per semester (Traditional and Accelerated Degree Programs). Full-time status is required for the awarding of all institutional funds.
Half-Time enrollment status (in both the day and evening programs) is considered to be two courses per semester. At least half-time status is required for some grant programs, federal loan programs, and federal work study.
Less than Half-Time enrollment status, or one class each semester, may entitle a student to a modest Federal Pell Grant, but other aid programs are not applicable to this status.

Official financial aid awards are made only after an offer of acceptance to the college. For families of accepted students who choose to complete the FAFSA after October 1 of any given year, award letters will be mailed to accepted students starting in November.


Types of Aid

You will receive a letter with the total amount of your award, and the award amounts from each program. A typical financial aid award includes:

  • Grant/Scholarship/Award – a gift to you that does not have to be repaid
  • Other – funding based on specific requirements
  • Loan(s) – borrowed funds that must be repaid, with interest
  • Employment – on-campus jobs that provide money for educational costs. (Federal work study, college employee)

Grants

Albright College Trustee Grants
Albright College gives Trustee Grants on the basis of financial need. These funds originate from several sources, including funds donated to the college.

Federal Government Grants
Federal Pell Grants and Federal Supplemental Education Opportunity Grants are given by the federal government on the basis of financial need. Both of these programs can change from year to year based off of the family’s financial need. The Federal Supplemental Opportunity Grant is need-based and is given until the Federal fund has been exhausted.

State Grants
Students who are Pennsylvania residents could be eligible for a Pennsylvania State Grant through the Pennsylvania Higher Education Assistance Agency (PHEAA). Typically, the application for the PA State grant is initiated when a student from Pennsylvania submits a valid FAFSA. PHEAA has a strict filing deadline of May 1 prior to the start of each academic year. Please allow for processing time of two to three business days after you submit your FAFSA for PHEAA to receive it.

It is very important to note that applicants may be contacted by PHEAA or our Financial Aid Office concerning incomplete applications, grants assigned to other schools, or missing documentation. This correspondence will most likely be sent by email. Applicants should address these requests as soon as possible to ensure there are no delays with the funding of their PA State Grants. Additional information and updated grant statuses can be found by visiting www.aessuccess.org or by calling PHEAA at 1-800-692-7392.

Students who are not Pennsylvania residents could be eligible for similar state grant aid programs in their home state. Not all surrounding states allow the student to receive state aid when attending a Pennsylvania institution. For more information about these aid programs, including eligibility requirements and filing deadlines, please contact your high school guidance office or the corresponding state agency that manages the aid programs in your home state.

Children of Fallen Heroes Act
Information will be available at a later date

Fostering Independence Tuition Waiver Program
Created by Act 16 of 2019, this program seeks to remove barriers in accessing a postsecondary education for youth who are or have been in foster care. This will allow eligible foster youth to complete their studies, graduate with less debt, and have the opportunity to build a network of support. To see if you qualify please read the following.
FosterEd Student Brochure

Veterans Benefits Administration
Information will be available at a later date


Loans

Federal Direct Student Loan
A Master Promissory Note (MPN) and Entrance Counseling must be completed to receive Federal Direct Student Loan funds. You may complete these steps online at www.studentaid.gov.

There are two types of Federal Direct Student Loans:
Direct Subsidized Loan is awarded on the basis of financial need. You will not be charged any interest before you enter into repayment. The federal government will pay the interest while you are in school at least half time or during periods of deferment.
An Direct Unsubsidized Loan is not awarded on the basis of need. You will be charged interest from the time the loan is disbursed until it is paid in full. If you allow the interest to accumulate, it will be added to the principal amount of your loan and additional interest will be based upon the higher amount.
If you are a dependent student whose parents do not qualify for a Federal PLUS Loan, or you are an independent student, you may qualify for an additional Direct Unsubsidized Loan.

Federal Direct Student Loan Annual Limits

Undergraduate Grade LevelBase Loan Amount
Subsidized
Base Loan Amount
Unsubsidized
Additional Unsubsidized Eligibility For Independent Students and Dependent Students whose parent is not eligible to borrow a PLUS Loan
1st year$3,500$2,000$4,000
2nd year$4,500$2,000$4,000
3rd, 4th or 5th year$5,500$2,000$5,000

 


Employment

The Federal Work-Study Program is designed to help students earn money during the academic year for books, supplies and other expenses. Students can apply for jobs through handshake by clicking this link.​ The funding will not be applied directly to the student’s college account to offset costs. Payment will be made directly to the student for hours worked. Find out more by clicking on the Student Employment link on our Human Resources page. You can contact: Dr. Ogaldez, Student Employment Coordinator by email: togaldez@albright.com or telephone: 610-921-7698.


Payment Options

Federal Loans

Federal PLUS Loan
Through this program, parents of dependent undergraduate students may borrow up to the total cost of education, less any financial aid received. Graduate and professional students are also eligible to borrow under this program. Parents of Dependent undergraduate students can apply for the Parent PLUS Loan at www.studentloans.gov with their social security number and FSA ID.


Private Student Loans

Before applying for private student loans, undergraduate and graduate students should have filed an FAFSA. Make sure to maximize your federal and state aid options before applying for additional loans. Borrowers and co-signers should review and compare information about interest rates, fees, loan terms and repayment terms. Interest rates are often determined by the credit history of borrower and/or co-signer. During the application process, selecting options such as in-school deferment and repayment schedule can directly affect interest rates. For specific questions, please contact the lenders directly.

A list of lenders can be found at www.elmselect.com.

**New Jersey residents may be eligible for a NJ Class Loan. More information can be viewed at www.hesaa.org/njclass.


Interest Free Monthly Payment Plans

Please visit https://selfservice.albright.edu/SELFSERV/Home.aspx for more information on payment plan options offered through our Student Accounts Office.


Verification

Verification is the process in which a financial aid office is required to test the accuracy of information reported by parents and students on the FAFSA. At minimum, required documentation will include the most recent Federal IRS Tax Transcript, copies of immediate past year W-2 forms, and a completed Federal Verification Worksheet. Important Note: the verification process cannot accept signed copies of federal 1040 tax forms. All families selected for verification must request a tax transcript from the IRS or choose to use IRS data retrieval on their FAFSA to meet the verification requirements.

In addition to minimum requirements, the Albright College Office of Financial Aid may require you to provide proof of citizenship, proof of registration with Selective Service, copies of Social Security benefit statements, 1099 forms, corporate earnings statements, or other information dealing with your income or assets. Financial aid applications are randomly selected by the federal FAFSA processor for verification. On a year-in, year-out basis schools will verify at least 30% of all FAFSA applicants. If you are selected, the verification process is required in order for you to receive financial aid.