Types of Aid « Financial Aid | Allegheny College

Types of Aid

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. Based on those factors, students can receive up to $35,000 per year. 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
From $10,000 to $35,000 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.

Eligibility
Based upon a student’s intended level of participation and performance ability. Students who plan to major or minor in dance, music, and theatre are eligible, as well as those who plan to participate in the arts, but have majors and minors in other areas. Students may audition in more than one area, but only one performing arts scholarship will be awarded. Auditions or interviews are required for this scholarship and the criteria is available on our scholarship form.
Value
From $1,000 to $2,000 per year.
More Info
For more information please click here.

Eligibility
Students with demonstrated financial need according to the FAFSA.
Value
Varies, based on funding.
More Info
Provides grants to students on the basis of financial need as demonstrated through filing of the FAFSA.

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.

Eligibility
Pell recipients with the highest level of financial need according to the FAFSA.
Value
Varies according to institutional funding.
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Included in the financial aid award package if eligible.

Eligibility
Students from the following states may qualify for a state grant: DE, MA, OH, PA, VT, WV, according to the FAFSA.
Value
Varies by state.
More Info
Students must complete the FAFSA by their state’s deadline (PA residents’ deadline: May 1).

Eligibility
Students with financial need as demonstrated through the FAFSA.
Value
Up to $2,500.
More Info
On-and off-campus jobs available at minimum wage and higher; student wages are earned through employment and are not credited to your bill.Learn More & View Openings

Eligibility
Students that do not qualify for federal work study nor are they hired as a Resident Advisor.
Value
Up to $2,000.
More Info
On-campus positions available at minimum wage and higher; student wages are earned through employment and are not credited to your bill.Learn More & View Openings

Eligibility
Students must complete the FAFSA.
Value
$5,500 for first-year students, $6,500 for sophomores, $7,500 for juniors and seniors.
More Info
Subsidized for students with demonstrated financial need and unsubsidized for students without financial need (at least $2,000 will be unsubsidized); must be enrolled at least half time. For further information, specifically interest rates, please visit www.studentaid.gov.

Eligibility
Credit-worthy parents of undergraduate students.
Value
Up to the total cost of education minus other financial aid.
More Info
To apply parents can go to https://studentloans.gov. For further information, specifically the interest rate, please visit www.studentaid.gov.

Eligibility
Students with credit-worthy cosigners.
Value
Up to the total cost of education minus other financial aid.
More Info
For examples of alternative loan options, please visit www.elmselect.com.

Allegheny grads only have a
1.5% Federal Direct Loan default rate

vs.
11.5% National Average
&
7.4% 4-Year Private Average