Scholarships & Grants
Scholarships and grants can be merit-based, need-based, or both.
Allegheny Trustee Scholarship
- Eligibility
A merit-based award that any student who submits an admissions application will be evaluated to receive. The award is based on the same criteria that we value in the admission process: strength and rigor of academics, test scores (optional), essays and recommendations, and a student’s contributions and achievements outside of the classroom. Because Allegheny encourages students to challenge themselves in the classroom, the Trustee Scholarship is guaranteed for eight semesters of full-time enrollment at Allegheny or for Allegheny-sponsored programs. - Value
Up to $38,000 per year. - More Info
Consideration for the Trustee Scholarship is automatic when students apply for admission under Early Decision, Early Action, and Regular Decision methods.
Allegheny Alumni Scholar Award
- Eligibility
A merit-based award that any student who submits an admissions application will be evaluated to receive. The award is based on a student’s demonstrated academic and personal growth during the admissions process. Guaranteed for eight semesters of full-time enrollment at Allegheny or for Allegheny-sponsored programs.
Allegheny Grants and Named Scholarships
- Eligibility
Based on financial need as determined by the FAFSA and/or merit. - More Info
Generous Allegheny alumni and friends have provided scholarship funding support for our students.
Allegheny Creative and Performing Arts Scholarships
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Allegheny celebrates an interest in the creative and performing arts regardless of desired major or minor. Students are invited to audition or present an art portfolio to apply for these scholarships. Applications are due on January 31, 2022, and are available at allegheny.edu/capa
Federal Pell Grants
- Eligibility
The expected family contribution (EFC) from the FAFSA must fall within the range set by the Department of Education. - Value
The EFC and award ranges change slightly from year to year, but the ranges are posted to www.studentaid.gov once they are determined. - More Info
Must reapply by completing renewal FAFSA each year.
Federal Supplemental Educational Opportunity Grants (SEOG)
- Eligibility
Based on significant financial need as determined by the FAFSA. - Value
Amount and availability of funding will vary year to year depending on family’s financial circumstances.
State Grants
- Eligibility
Students from the following states may qualify for a state grant: DE, MA, OH, PA, VT, WV. Determination is made according to the results of the FAFSA. Students must complete the FAFSA by their state’s deadline (PA residents’ deadline: May 1). - Value
Amount of the award and eligibility criteria are determined by your state of residency. - More Info
PLEASE NOTE: In some cases, additional forms are required by the state agency.
Outside Scholarships and Grants/Benefits
Outside scholarship opportunities: allegheny.edu/scholarships
Veterans and their dependents: allegheny.edu/veteransbenefits
If you are awarded any outside scholarships, you are required to report those to Allegheny via our Outside Scholarship Form. Once this form is received, your scholarships will be added to your financial aid package. The form can be found at allegheny.edu/scholarships
Work Awards
Student employment is available in most departments on campus and with some nonprofit agencies in Meadville. Students apply for positions of interest and receive a monthly paycheck.
Federal Work Study
-
- Eligibility
Students with financial need as demonstrated through the FAFSA. - Value
Up to $2,500. The amount listed on your award letter is the maximum amount you can earn, but is not guaranteed. On-and off-campus jobs are available at minimum wage and higher; student wages are earned through employment and are not credited to your bill. - More Info
Available job postings are sent to new students in the summer.
- Eligibility
Campus Employment
-
- Eligibility
Students that do not qualify for federal work study nor are they hired as a Resident Advisor. Students are eligible for campus employment even if it is not included in your original financial aid award. - Value
Up to $2,000. On-campus positions available at minimum wage and higher; student wages are earned through employment and are not credited to your bill. - More Info
Available job postings are sent to new students in the summer.
- Eligibility
Loan & Payment Options
Allegheny is committed to helping each student and their family make ideal borrowing decisions. We encourage you to use other financial resources first, such as savings, 529 savings plans, our monthly payment plan, and/or earnings from summer and student employment, before committing to educational loans. The majority of Allegheny students fund at least part of their education through loans.
All loans include an origination fee that will reduce the amount of the loan actually paid on the student account.
Please DO NOT act on loan applications until after June 1 of the year you are starting college. A credit check is performed for most loan applications and is only valid for 90 to 180 days.
Federal Direct Loan (for Students)
- About
Federal Direct Loans are provided as an option to all students who submit a FAFSA. Students begin repayment six months after they are no longer enrolled at least half time. There are two types of Federal Direct Loans:- Subsidized loans are based on demonstrated financial need. The interest rate is fixed and paid by the federal government while you are enrolled at least half time.
- Unsubsidized loans have a fixed interest rate and begin to accrue while the student is enrolled. The interest payments can be made while the student is enrolled or deferred until the student begins repayment.
- Value
$5,500 for first-year students (0-27 completed credits), $6,500 for sophomores (28-59 completed credits), $7,500 for juniors and seniors (60 and above completed credits). - More Info
Borrowers will be required to complete entrance counseling, a master promissory note (MPN), and the annual student loan acknowledgment.
DID YOU KNOW
Allegheny grads only have a 1.5% Federal Direct Loan default rate
vs. 11.5% National Average & 7.4% 4-Year Private Average
Private Loans
- Purpose
Privates loans can be used to cover costs that remain after other options for financial aid have been applied. Students are encouraged to take Federal Direct Loans and exhaust all other sources of funding before taking private loans. - Eligibility
Students with credit-worthy cosigners. Any creditworthy individual can borrow a private parent loan, including grandparents, other relatives, friends, or guardians. - Value
Up to the total “Cost of Education” minus other financial aid. Private loans offer both variable or fixed interest rates that accrue during the student’s enrollment. - More Info
To assist you, Allegheny maintains a list of private student loan lenders at elmselect.com. Additionally, Allegheny partners with Sparrow where you can search and compare real, personalized private student loan offers from over 16+ lenders through a simple, three-minute application. Sparrow provides a suite of analytical tools that make loan comparison easy, digestible, and visual. Using Sparrow is free and does not impact your credit score. Both sites are provided as a starting point, but you are not limited to the lenders listed. Allegheny works with all private student loan lenders and does not promote, endorse, or recommend a specific lender.
Federal PLUS Loan for Parents
- Eligibility
PLUS Loans are an option for parents of dependent undergraduate students. Dependent students whose parents apply and do not qualify for this loan are eligible to borrow additional unsubsidized loans up to $4,000 each of the first two years, then $5,000 each year for up to three additional years of undergraduate study. - Value
Up to the total “Cost of Education” minus other financial aid. The loan has a fixed interest rate and begins to accrue immediately. Loan repayment begins 60 days after the funds are received. - More Info
For more information, visit www.studentaid.gov - Instructions
Request a loan amount (all borrowers) — This step must be completed in order to utilize the PLUS Loan. As part of the application process, you can request a specific loan amount or allow the school to determine your maximum PLUS Loan eligibility. This allows the Department of Education to perform a credit check. The school will receive electronic notification within 24 hours of completion.- Go to studentaid.gov.
- The parent borrower needs to sign in using their FSA ID.
- After you sign in, select Apply for a Direct PLUS Loan, then start the Direct Plus Loan Application for Parents.