Applying for Aid

Financial Aid Process for Prospective Students

Submitting the FAFSA

All first-time financial aid applicants are encouraged to complete the Free Application for Federal Student Aid (FAFSA) . This year the 2024-2025 FAFSA will become available by December 31, 2023.  To list Allegheny College on your FAFSA, use Allegheny’s federal school code: 003230.

The FAFSA determines a student’s Student Aid Index (SAI). The SAI is then used to determine both the student’s financial need and the amount of need-based aid each student is eligible for. Official financial need is defined as the Cost of Education (total amount of annual educational expenses) minus the student’s SAI.

Full FAFSA information, including resources and “pro tips”, can be found here.

Reviewing Your Financial Aid Award Package

Students who have completed the FAFSA will receive a financial aid “package” according to the timeline below. The letter will be mailed and can also be accessed via the student portal. The package will note the initial cost of education, any financial aid a student is eligible for, and options for paying any remaining costs, if needed. Read more about types of aid.

Student Status Timeline To Receive Financial Aid Package*
Admitted Students* April
Returning Student Mid June

*Financial Aid packages mail on a rolling basis from the time listed above

Making Your Education Affordable

By submitting the FAFSA and receiving a financial aid package, students and families give themselves the best opportunity to determine what is affordable — and to put their ideal schools within reach! By comparing schools’ financial aid packages, you have a total picture of aid and a school’s true cost. By combining aid offered and any additional resources, families will be able to plan ahead and feel confident in a student’s school choice.

Allegheny is celebrated as a “Best Value” by The Princeton Review, U.S. News & World Report, Forbes, and the Wall Street Journal

100% of Allegheny students receive institutional aid, whether awarded on merit, need, or both.

The College awarded over $55 million in aid for the 2020-2021 academic year. Top merit scholarships are guaranteed up to eight semesters.

Criteria for Awarding Aid

Merit Aid and Need-Based Aid

Financial aid awarded by Allegheny College is awarded based on a variety of considerations: a) to students who have balanced academic excellence with other distinctive activities while in high school, b) awarded based on need as determined by the FAFSA, and c) sometimes based on consideration of both.


Consideration for some merit-based aid, such as the Trustee Scholarship, is automatic when students apply and are admitted to Allegheny. Need-based aid cannot be calculated until a student completes the FAFSA; families must complete the FAFSA by April 15 for the following academic year.


Aid is awarded without regard to a student’s athletic abilities or sport participation, since Allegheny competes in Division III of the National Collegiate Athletic Association (NCAA) and must honor the Division III policies.

Learn more about types of aid.

Billing, Rates, and Student Accounts

For details on billing, food, and housing rates and other student account information, visit Financial Services or contact them at 1-800-376-7075.