Financial Aid Packaging Process

Financial Aid Process for Prospective Students

All first-time financial aid applicants are encouraged to complete the Free Application for Federal Student Aid (FAFSA) between October 1 and February 15 in the year of application.   Please list Allegheny’s Federal School Code, 003230, in the school section of the FAFSA.

Before beginning a FAFSA, students and parents should create their own FSA username and password in order to sign the FAFSA electronically and later access a processed FAFSA. Your FSA ID# confirms your identity.  Please note that the FAFSA must be signed by both the student and a parent to be valid.

Initial financial aid packages will be mailed in early March to admitted applicants who have completed the FAFSA, and on a rolling basis thereafter.   The deposit deadline for regular decision students is May 1.  Allegheny College cannot guarantee space will be available in the Fall freshmen class for students whose deposit is paid after May 1.

Financial Need

Official financial need is defined as the Cost of Attendance (COA, total amount of annual educational expenses) minus the student’s Expected Family Contribution (EFC, amount calculated to be met through family financial resources).

COA – EFC = Official Financial Need

A financial aid “package” may consist of need-based and non-need-based financial aid from a variety of institutional, federal, state, and private sources.   Typical types of aid include grants, scholarships, loans, and employment options.  Together with resources available from the family, the total amount of financial aid options may meet the annual cost of attendance (including tuition, fees, room, board, and allowances for books, transportation, and personal expenses).