As any prospective college student can tell you, the choice of a school is often filled with uncertainties: Commuter or residential? Public or private or religiously affiliated? A research institute or one known for its teaching? The questions are seemingly endless. After many of these concerns are settled, one last question needs to be addressed and answered satisfactorily: How to Pay for All This?
Ideally, the last question is one that has been top of mind for many years as families budget for what is one of the largest expenses any household will face. Close to 90 percent of Sacred Heart University’s full-time undergraduates will receive some form of financial aid, amounting to nearly $23 million in University assistance last year. This makes accessing and understanding the options essential. Fortunately, the University has an exceptional staff of financial counselors under the seasoned leadership of the Dean of University Financial Assistance, Julie B. Savino. They excel at helping families make sense of the maze of opportunities, and the benefits and risks of each one.
The variety of financial aid available is amazing. Among federal sources of assistance are Pell Grants for U.S. citizens (or permanent residents) who demonstrate financial need. The awards can range from $400 to $4,731. Students who meet the qualifications for Pell Grants can apply for two new programs. The Academic Competitive Grant (ACG) awards graduated amounts for the first two years of study, and the SMART Grant is designed for those majoring in certain sciences or a critical foreign language, with grants of up to $4,000 for each of the last two years of study. Qualified undergraduates with exceptional financial need can apply for Federal Supplemental Educational Opportunity Grants of up to $4,000 a year.
The Federal Perkins Loan allows students in exceptional financial need to borrow up to $3,000. And for other students with needs beyond what financial aid covers, the Stafford Loan Program allows borrowing in graduated amounts over the course of the four years of college. In the third and fourth years, the amount eligible rises to $5,500.
Typically, the student’s home state will have special programs available for local residents. In Connecticut, undergraduate residents with financial need may qualify for Connecticut Independent College Student Grants. Further, those who participate in community service projects may be eligible for additional aid. The Capitol Scholarship Program is for Connecticut undergrads with SAT scores of at least 1200 or a ranking in the top 25 percent of their class. They can apply for awards of up to $3,000 while attending a private college or university. Students should check with their state’s Board or Commission for Education.
Sacred Heart University has a wide variety of scholarship awards available, and the Office of Student Financial Assistance has full details. Eligibility for a $15,000-per-year award is reserved for those who graduate as valedictorian or salutatorian, achieve high scores on the SAT or ACT, and have maintained at least a 3.4 GPA. Assistance ranging from $6,000 to $10,000 per year comes to academically gifted students through the Trustee Scholars Program, and a special fund named for the University’s founder, Bishop Walter W. Curtis, makes grants of $2,000 per academic year for full-time commuters who live at home.
Other awards are specially designed for transfer students, those who began their advanced education at a community college, and undergrads actively involved in such activities as athletics, campus ministry, and academic research, among many others.
Read More about Preferred Lenders
Read More about Code of Conduct for Financial Assistance
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