Financial Aid for Online Degrees

Applying for Financial Aid

Students enrolled in online undergraduate and graduate programs are encouraged to apply for financial aid, which is available to all, regardless of their program type. To be eligible for aid, the Federal Application for Federal Student Aid (FAFSA) is an annual requirement. To complete the FAFSA, you must first create an FSA ID, and use it in your FAFSA application.

Because your FAFSA must be processed to determine your aid options, we strongly recommend completing your FAFSA as soon as possible in your admission process. When completing your form, be sure to use Albright’s Federal School Code - 003229 - to ensure our Financial Aid Office receives your information.

The FAFSA typically becomes available on October 1^st each year for the upcoming academic term.

Pennsylvania State Grant (PHEAA)

If you are a state resident, it is important to have your FAFSA completed prior to May 1st. The PA State Grant program has a strict application deadline of May 1st. For more information on this program please visit here or 1-800-692-7392.

Online Student Information

Admission and Financial Aid Deadlines

Admission and Financial Aid Deadlines

Albright's online degree programs offer six start dates per year – two in spring, two in summer and two in fall. Be sure to start your financial aid process (submitting your FAFSA, applying for private loans, etc.) at the same time that you apply for admission to be sure you're completely ready to begin classes when you wish.

If you have questions, contact admission counselor Lauren China at lchina@albright.edu or 610-921-7594.

Payment Options

Federal Loans

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

There are two types of Federal Direct Student Loans

A Direct Subsidized Loan is awarded on the basis of financial need. You will not be charged 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.
A 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 Parent PLUS Loans
Application for this parent loan is a two-step process after the student's FAFSA has been submitted. It requires the biological parent to complete a loan request (credit check) and the Master Promissory Note (MPN). These two steps must be completed before the loan can be certified by Albright College. We recommend submitting this application after July 1 - and applying for a full-year loan rather than one semester, as the loan amount will be split into two equal disbursements.

A parent can apply for this loan by logging into Studentaid.gov, using their own FSA account information. Once logged in, click on 'I'm a parent' and then 'Apply for a Parent PLUS Loan,' and complete all required information for the credit check. Once that is approved, the parent must complete the Master Promissory Note information and submit the loan application.

All loan funds will be credited to the student's account in two equal disbursements, one for each semester.

Private Student Loans

All students should file their FAFSA to maximize federal and state aid options before applying for additional loans.

When considering private 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 the borrower and/or co-signer. It is important to know that, during the loan application process, selecting options such as in-school deferment and repayment schedule can directly affect interest rates. For specific questions, please contact lenders directly.

A list of private lenders can be found at Elm Select.

Payment Plans

Talk to our staff

Our financial aid staff is eager to answer your questions and help you navigate the financial aid process. If you have a question or concern, don’t hesitate to reach out to us. Email the financial aid team at finaid@albright.edu or call our office at 610-921-7515.

Declining Aid

Disbursement

Grants, scholarships, and loans administered by the Financial Aid Office are first applied directly to your student account to support charges for tuition, fees, and other College charges. Financial aid awarded for a specific term can only pay for charges in that term. Disbursements of financial aid occur weekly. The Financial Aid Office can advise you at any time regarding the day of the next financial aid disbursement.

Satisfactory Academic Process (SAP)

Federal regulations (General Provision CRF 668.1) require that Albright College review the academic progress of a student before awarding Federal financial aid to assure the student has met and continues to meet the basic academic progress standards set forth by the College.

The Federal government requires a student receiving Federal aid to complete their degree within 150% of the published length of the academic program. Albright College also expects a full-time student to complete degree requirements within a maximum of 10 semesters and summer school (five years). The traditional academic programs at Albright College are four years in length. The requirement for a bachelor’s degree is 120 credits. To graduate within the traditional four years, a student must enroll for a minimum of 15 credits per semester. Enrolling in 12 credits per semester (minimum for a full-time status) extends graduation one full academic year. NOTE: Most aid programs only offer aid assistance for a total of 8 semesters. Therefore, extending past 8 semesters will make financing of the fifth year difficult.

All students enrolled at Albright College are subject to the academic standards of the college. As a participant in the federal financial aid programs (Title IV), students are also required to make satisfactory academic progress toward their degree using both qualitative and quantitative measures as defined below:

Qualitatively, your progress is defined as academic good standing at the College, or grade attainment of a cumulative GPA of 1.7 after your first year of attempted credits, and a cumulative GPA of a 2.0 thereafter. Graduate students must maintain a minimum GPA of 3.0.

Quantitatively, you are required to complete 67% progress toward your graduation requirements. The measurement is the relationship between the cumulative credits you have attempted to complete and those credits you actually completed.

An aid recipient must display progress in both the qualitative and quantitative measures. If either test fails, the student is not making acceptable academic progress for the receipt of financial aid. Students are evaluated for progress at the end of the spring semester after final grades are submitted to Registrar. Students will be notified in June of any given year if they have not met the SAP guidelines for financial aid.

Students not making progress may appeal the results. A financial aid appeal form can be found on the financial aid website. Student must submit their appeal to the Financial Aid Office no later than the first scheduled day of the fall semester and the first scheduled day of the spring semester. If approved, the student will be placed on financial aid probation for a period of one academic year and will be required to establish an approved academic plan designed in coordination with the Albright Student Success Center.

Appealing Financial Aid

You have the right to appeal your federal financial aid award based on circumstances beyond your control. Some examples of valid appeal grounds include significant out-of-pocket medical and dental expenses, catastrophic financial losses associated with a designated natural disaster, change in marital status, and employment changes.

Albright College Financial Aid Office utilizes a Special Circumstance/Appeal Form to review changes to circumstances as described above. Please see Financial Aid Forms for a form to complete and submit.

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 Free Application for Federal Student Aid (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 1040 federal 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, copies of Social Security benefit statements, 1099 forms, corporate earnings statements or other information related to your income or assets. Financial aid applications are randomly selected by the federal FAFSA processor for verification. On a ongoing basis schools will verify at least 30% of all FAFSA applicants. If you are selected, the verification process is required for you to receive financial aid.