The Albertus Magnus College Financial Aid Office’s mission is to serve the student body, provide financial means, promote financial knowledge, and facilitate affordable access to higher education. The Financial Aid Office assists students in financing their education by using a variety of sources including: scholarships, grants, loans, and work-study programs.
Be sure to use the College's school code: 001374
Applications received after these dates will be processed based on availability of funds.
Financial aid offers are based on demonstrated need, which is calculated as Cost of Attendance (COA) minus Expected Family Contribution (EFC):
COA - EFC = Aid Offer
Loans to support your education will be credited to your balance when we receive the funds from the lender.
With demonstrated need, you may apply for this federal loan and borrow up to $3,500 as a freshman, $4,500 as a sophomore and $5,500 as a junior or senior. A six-month grace period is provided after graduation or if you fall below half-time enrollment before repayment must begin. Interest is currently fixed at 3.86% but may be subject to change. While you remain in school, the government pays interest on all subsidized loans.
You may qualify for this non-need-based federal loan. Interest is currently fixed at 5.41% but may be subject to change. While in school and in any deferment periods, you are responsible for paying the interest. Dependent students may be eligible for additional unsubsidized funds with a Direct PLUS Loan denial.
You may combine subsidized and unsubsidized Stafford loans to help meet your needs. Freshmen may qualify for $3,500 subsidized and an additional $2,000 in unsubsidized Stafford loans, while sophomores may qualify for $4,500 subsidized and an additional $2,000 unsubsidized. Juniors and seniors may qualify for $5,500 in subsidized Stafford loans and an additional $2,000 unsubsidized. Interest rates are typically reset in July.
A 1.051% origination fee will be assessed on all Federal Direct Stafford Loan Disbursements whose first disbursement occurs on or after July 1, 2013. A 1.072% origination fee will be assessed on all Federal Direct Stafford Loan Disbursements whose first disbursement occurs on or after December 1, 2013.
Your demonstrated need may make you eligible to receive grant funds that do not require repayment.
Need-based award offered to students with very low Estimated Family Contribution (EFC). Each year, the federal government determines award levels, including the maximum and minimum amounts.
Funded by the federal government and offered to students with the highest need, typically Pell Grant recipients.
You may also qualify to participate in the Federal Work-Study Program, which employs students on-campus. A 2.0 cumulative grade point average must be maintained to participate in the Federal Work-Study Program. Each week, you may work an average of eight hours (but no more than 20 hours) each week during the academic year, or 35 hours per week during periods of non-enrollment, such as vacation breaks. Wages meet federal minimum-wage standards. The College pays work study students semi-monthly with a check made available in the Business Office.
You may earn funds by working off-campus at non-profit organizations that benefit the community by meeting the human, educational, environmental, and public safety needs of low-income individuals.
All financial aid recipients must maintain Satisfactory Academic Progress (SAP) in order to receive assistance. To be in good academic standing, full-time undergraduate students must meet the following minimum requirements:
Full-time students making SAP may receive financial aid for up to 12 semesters (six years) of full-time attendance, or until the student is certified for graduation by the College, whichever comes first. Part-time students making SAP may receive financial aid for up to 20 semesters (10 years) of part-time attendance, or until the student is certified for graduation by the College, whichever comes first. The timeframe may not exceed 150% of the published length of the program measured in credit hours attempted.
When you complete the FAFSA, be sure to include the College's school code: 001374.
8:30 a.m. – 4:30 p.m. Monday
8:30 a.m. – 7:00 p.m. Tuesday-Thursday
8:30 a.m. – 4:30 p.m. Friday
Deadline for all Federal Work-Study Documents
Deadline for all Missing Financial Aid Documents for Module 2
Priority Deadline for December Graduate Exit Loan Counseling
Priority Deadline for Spring Alternative/PLUS Loans
Deadline for all Missing Financial Aid Documents for the Spring Semester
We adhere to Connecticut's Financial Aid Code of Conduct.