- What is the difference between Financial Assistance and Student Accounts?
The Office of Financial Assistance is responsible for assessing your financial need and awarding available assistance toward the cost of attendance. We are also available to counsel families in borrowing and financing options.
The Student Accounts or Bursars office is responsible for all assessing all charges for tuition, room and board, billing, payment and payment plans, meal plan options, SHU Card accounts, health insurance waivers and payment from outside scholarships.
- What if the balance due after my financial assistance is more than my family can pay?
We understand that a Sacred Heart University education is a significant investment for any student and that today more than ever, a degree has become a necessity. Therefore, we ask that families explore and take advantage of any scholarships, grants, and work-study options and then borrow the maximum Federal Stafford Loan amount. If a gap still remains between the family resources and traditional financial aid, the Office of Student Financial Assistance has access to additional information on short-term payment plans or long-term funding sources including banks and other lending agencies.
The Office of Student Financial Assistance has researched numerous private education loan programs. Many of these loan programs offer special borrower benefits and strong customer service. Loan amounts are limited to the cost of education less any financial assistance received. As an alternative to paying the remaining cost of attendance, parents of dependent undergraduate students may borrow a Federal PLUS Loan or cosign a private loan for the student. To obtain a PLUS Loan, parent borrowers should complete an online pre-approval and application. Students with a credit worthy co-signer may opt to borrow a loan in their name through the State of Connecticut FELP program or other private loan programs. Contact our office or refer to the website at http://www.elmselect.com/ for more information on the most up–to-date alternative financing options.
- Does the University offer a payment plan for the remaining cost?
Sacred Heart University is proud to offer an efficient way of meeting your educational expenses through our On-line Payment Plan. For details regarding the payment plan options, visit the Student Accounts website under Quick Links at the top right of the page
- How should I estimate the costs of attending Sacred Heart University each year?
In determining what the cost of attending for an academic year please use the formula:
Total Cost of Attendance less Financial Assistance equals the Family Share. Students must keep in mind Direct Costs (the charges billed to you by the University’s Bursar) and Indirect Costs. Direct costs typically include Tuition and Fees, Room and Board. Students who reside on campus will be assessed a housing charge dependent upon the residence hall they will be living for the academic year. Sacred Heart University offers several distinct board plans ~Big Red, Pioneer, Red & White, and Park Ave. ~ from which to choose.
Many commuter students participate in the meal plans for convenience. Indirect costs include books, transportation, and miscellaneous personal expenses. Every year, Sacred Heart University provides a worksheet for you to estimate your costs. It will guide you to determine your direct costs, instruct you to deduct your financial assistance, thus arriving at the bottom line costs ~ what your family share will be for an academic year. A worksheet, with specific charges, is inserted with this guide. Additional worksheets are available by contacting the Office of Student Financial Assistance.