Financial Aid and Tuition

Personal financial literacy is more than just being able to balance a checkbook, compare prices or get a job. It also includes skills like long-term vision and planning for the future, and the discipline to use those skills every day.

The Higher Education Opportunity Act (sections 1041 and 1042) requires that the Secretary of the Treasury in consultation with the Secretary of Education and other agencies enhance financial literacy among postsecondary students through developing initiatives, programs and curricula that improve student awareness of short- and long-term costs associated with student loans and other debts and assisting students in navigating the financial aid process.

The following information is available to help educate our students and families and assist them in making informed decisions to reach their financial goals.

General Financial Literacy Resources

• pnc.financialliteracy101.org -  Before you borrow, understand the ins and outs of paying for college.
•  www.CashCourse.org - CashCourse.org serves as a great resource for students as it speaks to many of the common financial pitfalls they may be encountering during their college years. 
• www.mappingyourfuture.org - Mapping Your Future is a free resource for career, college, financial aid, and money management information. The goal is to help individuals achieve life-long success by empowering students, families, and schools with web-based information and services. 
• www.youcandealwithit.com - YouCanDealWithIt.com provides practical advice about paying for college and managing your debt. 
• www.annualcreditreport.com - Students should request a free annual credit report. This will allow you to pull your credit report from all three credit reporting bureaus. 
• www.myfico.com - Get the details on your FICO score, understand positive and negative influences, how to monitor it and full access to customer support. View more information about FICO scores. 
• www.MyMoney.gov - This is the U.S. government's website dedicated to teaching all Americans the basics about financial education. 
• https://studentaid.gov/understand-aid/types/loans – Financial Aid Awareness explains your student loan questions. 

• No action will be taken by financial aid staff that is for their personal benefit or could be perceived to be a conflict of interest.
• Information provided by the financial aid office is accurate, unbiased, and does not reflect preference arising from actual or potential personal gain.
• All required consumer information is displayed in a prominent location on the institutional website(s) and in any printed materials, easily identified and found, and labeled as "Consumer Information."
• Financial aid professionals will disclose to their institution any involvement, interest in, or potential conflict of interest with any entity with which the institution has a business relationship.

Saint Vincent College is committed to providing students and their families with the best information and processing alternatives available regarding student borrowing. In support of this and in an effort to rule out any perceived or actual conflict of interest between Saint Vincent College officers, employees or agents and education loan lenders, Saint Vincent College has adopted the following:

• Saint Vincent College does not participate in any revenue-sharing arrangements with any lender.
• Saint Vincent College does not permit any officer, employee or agent of the school who is employed in the financial aid office or is otherwise involved in the administration of education loans to accept any gifts of greater than a nominal value from any lender, guarantor or servicer.
• Saint Vincent College does not permit any officer, employee or agent of the school who is employed in the financial aid office or is otherwise involved in the administration of education loans to accept any fee, payment or other financial benefit (including a stock purchase option) from a lender or affiliate of a lender as compensation for any type of consulting arrangement or contract to provide services to a lender or on behalf of a lender relating to education loans.
• Saint Vincent College does not permit any officer, employee or agent of the school who is employed in the financial aid office or is otherwise involved in the administration of education loans to accept anything of value from a lender, guarantor, or group of lenders and/or guarantors in exchange for service on an advisory board, commission or other group established by such a lender, guarantor group of lenders and/or guarantors. Saint Vincent College does allow for the reasonable reimbursement of expenses associated with participation in such boards, commissions or groups by lenders, guarantors, or groups of lenders and/or guarantors.
• Saint Vincent College does not assign a lender to any first-time borrower through financial aid packaging or any other means.
• Saint Vincent College recognizes that a borrower has the right to choose any lender from which to borrow to finance his/her education. Saint Vincent College will not refuse to certify or otherwise deny or delay certification of a loan based on the borrower’s selection of a lender and/or guarantor.
• Saint Vincent College will not request or accept any offer of funds to be used for private education loans to students from any lender in exchange for providing the lender with a specified number or volume of Title IV loans, or a preferred lender arrangement for Title IV loans.
• Saint Vincent College will not request or accept any assistance with call center or financial aid office staffing.

Special Financial Circumstances

Students or families that have experienced special financial circumstances such as but not limited to recent unemployment, change of employment, divorce, separation, death or disability of a parent/spouse that occurred after the FAFSA was submitted, loss of child support, or substantial unreimbursed medical expenses may request an adjustment to the Student Aid Index. Special financial circumstances cannot be considered for items such as credit card debt or expenses related to lifestyle choices.

Unusual Circumstances

Students who have unusual circumstances or a unique situation such as but not limited to parental abandonment, estrangement, abuse, incarceration of both parents, human trafficking, homelessness, or risk of homelessness may request consideration for a dependency override. 

Students or families requesting consideration for a Special Financial or Unusual Circumstance will be required to submit a written narrative of the special circumstance along with supporting documentation such as but not limited to proof of reduced income in the form of additional tax return information, job termination or unemployment notice, divorce decree, proof of separation such as confirmation of separate addresses, death certificate, documentation from an objective third party,  or court documentation, depending upon the situation.

Please note that the following examples do not constitute an unusual circumstance or dependency override:

• Parents ending financial support of the student
• Parents refusal to fill out information to complete the FAFSA or verification process, including step-parent information or documentation
• Parents not claiming the student as a dependent when filing federal taxes
• Student demonstrating total personal and/or financial self-sufficiency

Students whose parents have ended financial support OR refuse to fill out information to complete the FAFSA or verification as noted above may be eligible for Title IV funding in the form of Unsubsidized Direct Loan only. If this pertains to you, a signed statement from the parents of such is required. If the parents refuse, documentation from an objective third party such as a high school counselor, social series agency official, physician, clergy, mental health professional, law enforcement officer, teacher, etc., will be required.

To Request a Special Financial or Unusual Circumstance review:

• Complete the relevant aid year FAFSA at studentaid.gov
• Contact the Financial Aid Office to schedule an appointment to discuss the circumstance
• The Financial Aid Representative will determine further review for the circumstance and request the necessary documentation
• Once all required documentation has been received a determination will be made, usually within 5-10 business days
• The student will be notified of the review

Cost of Attendance/Budget Increase

The estimated Cost of Attendance (COA) budget used for processing financial aid includes allowances for tuition, required fees, housing, food, transportation, books and supplies, and miscellaneous personal expenses for the academic year.

Financial aid from all sources cannot exceed the COA. In some situations, the COA can be adjusted so that additional financial aid can be processed. Adjustments to the COA does not guarantee additional grant aid or federal student loans which are limited by regulation.

Additional aid may be available in the form of a Parent or Graduate PLUS or private loan. A COA increase may be requested for, but not limited to, disability expenses for the student, the cost of books, supplies, and material, or transportation costs beyond the estimated COA, study abroad costs, or student health insurance.