Financial Need
Aid Awarded by Alvernia College
Merit Scholarships and Awards
Tuition Discounts
Work Programs
Loan Programs
Federal & State Government Aid Other Sources
How to Apply
Aid Disbursement
Changes in Financial Aid
Questions

Alvernia College has a program of financial assistance including grants, scholarships, loans and employment. The program is designed to provide assistance to students whose personal and family resources cannot meet the full cost of education at Alvernia College. Therefore, financial aid is only supplementary to the family's own best effort to contribute to the student's education.

Financial need is the difference between college expenses and the amount a family is expected to contribute toward those expenses. Federal methodology set by the Federal Government is used by Alvernia College as the standard upon which need is determined. Students must file the Free Application for Federal Student Aid (FAFSA) to apply for all types of aid.

After financial need is determined, an aid package to assist with that financial need will be developed for each student. The aid package is contingent upon when the student applies, when the student is accepted, college resources available, and funding levels set by the Federal government.

There are three basic types of financial aid:
Grants and Scholarships - do not require repayment
Loans - must be repaid
Work - funds received in a bi-weekly paycheck

Financial aid programs require that students enroll full time or half time to be considered for assistance. Full time is the equivalent of 12 credits per semester and half time is considered six credits per semester.

Students must be accepted in a degree program to be eligible for financial aid. Students must complete a matriculation form before receiving financial aid. Students are eligible to receive Pell Grants, Pennsylvania State Grants and Stafford Loans only.

Note: Because of the discounted tuition in the Evening Program, these students are not eligible for Alvernia College aid. Unless otherwise noted, students must be enrolled full time to receive Alvernia College scholarships and grants. Students with bachelor's degrees are not eligible for Alvernia College grants.

The following three scholarships are awarded to accepted, outstanding first time freshmen using grade point average and SAT scores. Students who receive these scholarships are NOT eligible to receive a High School Partnership Award. Criteria changes each year depending upon the pool of applicants and funding available:
*Franciscan Scholarship
Resident: $7,500 and Commuter: $5,500.
Students must maintain a 2.5 to renew this scholarship.

*Trustee's Scholarship
$4,500. Students must maintain a 2.5 to renew this scholarship.

*Veronica Founder's Scholarship
$3,500. Students must maintain a 2.5 to renew this scholarship.

*Alvernia College Scholarship
Awarded to first time freshmen that do not demonstrate financial need as determined by 
Filing the FAFSA, but have proven themselves academically worthy. The amount of
this varies. Regular financial aid progress standards apply for renewal.

High School/Church Partnership Awards
Awarded to accepted first time freshman and are based upon where the student graduates high school or attends church. Students must file the FASFA to determine eligibility. Regular financial aid progress standards apply for renewal.
*BASE (Berks and Alvernia Supporting Education)
$2,500 for graduates from a Berks County High School
*PACE (Partners in Catholic Education)
$3,000 for graduates from St. Pious X High School in Pottstown, PA
*Commuter Outreach Award
$2,000 for Graduates from Coatesville, Cocalico, ELCO, Ephrata, Garden Sport, Lancaster Mennonite, Owen J. Roberts, Pottsgrove, Pottstown

*Principal's Community Service Award
Variable amount for one student selected by Principal from each school in PACE, BASE, Bernardine Heritage, and Commuter Outreach Awards.

*Parish Award
$500 for students nominated by their pastor of their Catholic Church in Harrisburg or  Allentown Diocese.

Alvernia College Donor Scholarship
Donor scholarships are funded by outside donors and awarded to students according to guidelines set by the donor, and are available on a competitive basis. No separate application is needed to apply for these scholarships, simply file the FAFSA to be considered. Recipients of these scholarships have an obligation to send a letter of thanks to the donor and attend any event they may be invited to attend as a result of being chosen for the award. The Development Office of the college supplies the name and address of the donor.
Allentown Diocese Bishop's Scholarship
Alumni Book Scholarship
Arcadia Foundation Scholarship
Bernardine International Scholarship
Shirley K. and Joseph L. Boscov Scholarship
CoreStates/First Union Work Scholarship Program
Corporate Scholarships
FBLA Scholarships
Gloria M. Genuardi Scholarship
Governor's School of Excellence Scholarship
T. Jerome and Carolyn R. Holleran Scholarship
Stanley B. Lewandowski Scholarship
Henry E. Miller Memorial Scholarship
Gustav Oberlaender Fund of the Berks County Community Foundation
Hugh O'Brien leadership Scholarship
Guido Pichini Scholarship
Roy Petrie Memorial Scholarship
Frank J. Podczasy Scholarship
Scholarship all Award
Dr. Monica H. m. Shander memorial Scholarship
The Sister Edward Ann Scholarship
The Sister Theresine Scholarship
The Sister Mary Victorine Memorial Scholarship
The Sister Mary Zygmunta Scholarship

Out-of-State Grants
Alvernia College Grants are awarded to students on the basis of financial need. Out-of-State grants are awarded to students outside of Pennsylvania and based on the formula set by Pennsylvania to award its own grants to Pennsylvania residents. Students must be enrolled full time to receive these grants.

Transfer Awards
*ARC (Alvernia and RACC Connection)
Up to $2500 a year (based on GPA) for students transferring from Reading Area Community College to Alvernia with at least 45 credits.

*ACT (Alvernia Connects with Transfers)
Up to $2500 a year (based on GPA) for students transferring from an accredited College to Alvernia with an associate's degree.

Alvernia College offers the following tuition discounts. Students receiving the Senior Citizen, Tuition Exchange or Criminal Justice Partnership Programs discounts are not eligible to receive Alvernia College Grants or Scholarships.
*Allentown Diocese
Tuition Discount Full time employees of the Allentown Diocese and their dependent Children will receive a tuition discount of 20 percent. A letter from the principal or Superintendent verifying employment must be sent to the Office of Student Financial Planning to Receive this discount.
*Senior Citizen Discount
A tuition discount of 10 percent is given to students who are at least 65 years of age. Fees are charged separately.
*Tuition Exchange
Tuition exchange is available for students whose parents are employed by a higher Education institution that participates in the Tuition Exchange Program. Contact Human Resources for details.
*Criminal Justice Partnership Program
This tuition discount of 33 percent was developed for criminal justice practitioners who are currently employed in the field so they may return to college to complete Their degree. Students must be accepted by the college to be eligible.
*Sibling Discount
Alvernia awards 20% off admission for the second child enrolled at the same time. Both students must be enrolled full time.

Federal Supplemental Educational Opportunity Grant (SEOG)
Students must be at least half time and demonstrate the highest financial need to receive these grants. This is a campus-based program funded by the federal government and amount available is dependent upon those funding levels.

Federal Perkins Loan
This loan is a campus-based program funded by the federal government and amounts available is dependent upon those funding levels. Students must demonstrate financial need and be enrolled at least half time. The interest rate is five percent per annum payable to Alvernia College nine months after the student graduates or falls below half time status. Repayment may be deferred for graduate study and in some cases, portions of the loan can be cancelled for teaching, law enforcement, head start, the military or volunteer service.

Alvernia College Health Professions Loan
This loan is provided by Alvernia College to students enrolled in any of the health professionals majors: Nursing (ADN and BSN), Physical Therapist Assistant, Occupational Therapy, and the Pre-professional health Program. Students must demonstrate financial need and be enrolled at least half time. The interest rate is five percent per annum payable to Alvernia College nine months after the student graduates or falls below half time status. Repayment may be deferred for graduate study in any discipline.

O'Rourke Nursing loan
This loan is provided by Alvernia College to students who are in the last year of their ADN or BSN program. Students must demonstrate financial need and be enrolled at least halftime. This is an interest-free loan and students enter repayment nine months after graduation. There are no deferment provisions.

Federal Work-Study
This campus-based employment program is funded by the federal government and based on financial need. Students must be full time throughout the academic year and maintain satisfactory academic progress to remain eligible for work-study. Actual hours worked and length of employment are dependent upon the funds available from the Federal government. If students are not awarded FWS on their award letter, they are welcome to go to the Office of Student Financial Planning and enter their names on the waiting list. Students will interview for the positions that are open across campus.

Alvernia College Job Corps
This program is funded by Alvernia and the number of students in this program each year is dependent upon funds available from the college. Students MUST file a Free Application for Federal Student Aid if they want to work on campus. Students must be full time throughout the academic year and maintain satisfactory academic progress. Students will interview for positions that are open across campus.

Pell Grants
The federal government funds this grant program, and students must demonstrate financial need according to a federal formula. Notification of eligibility is on a Student Aid Report (SAR). The Office of Student Financial Planning will determine the amount of the award. Students may be requested to send their tax return and their parents' tax return (if dependent) for random verification.
Evening Students
For the Pell Grant, the first "semester" consists of Modules 1 and 2 and the second "semester" consists of Modules 3 and 4. Grants are credited twice during the academic year: after the add/drop period of the second module of each "semester." If students have not used up all of their Pell Grant eligibility in the first and second semesters, they may receive the remainder in Modules 5 and 6.

Pennsylvania State Grant
The Pennsylvania Higher Education Assistance Agency (PHEAA) offers grants to undergraduates (over 18) who are enrolled at least half time and have lived in Pennsylvania for at least 12 months prior to the date of application. (Parents must meet domicile requirements for students under 18.) Full time students MUST complete 24 CREDITS for the prior year of state grant eligibility to maintain progress (part time: 12 credits). State grant eligibility is limited to eight semester. Questions concerning the State Grant program can be directed to PHEAA in Harrisburg at 1-800-692-7435. 
Evening Students
For the Pennsylvania State Grant, the first "semester" consists of Modules 1 and 2, the second "semester" consists of Modules 3 and 4, and the summer "semester" consists of Modules 5 and 6. Grants are credited after the add/drop period of the second module each "semester." To receive a full time state grant, a student must enroll in a total of 12 credits in each "semester." To receive a part time state grant, a student must enroll in at least 6 credits in each "semester." All state grant recipients MUST report to the Office of Student Financial Planning any reimbursement for tuition from an employer. Call the Office of Student Financial Planning for the tuition reimbursement form.

Other State Grants
Alaska, Connecticut, Delaware, the District of Columbia, Maine, Massachusetts, Ohio, Rhode Island, Vermont, and West Virginia residents may take their state grants to most Pennsylvania colleges. Call the Higher Education Assistance Agency in your state for additional information on eligibility criteria and the application procedures.

Federal Stafford and Federal Unsubsidized Stafford Loans
Students must file the Free Application for Federal Student Aid (FAFSA) to determine eligibility for these loans. Students must also file a Master Promissory Note for Federal Stafford Loan. In addition, the student must be enrolled at least half time, six credits per semester, to receive these loans. The Federal Subsidized Stafford Loan is interest free until six months after the student ceases attending the college on at least a half time basis. At that time, the interest and principal are due and the student has up to ten years to repay. Consolidation of federal loans can extend that period up to 30 years depending on amounts borrowed.

Interest is due quarterly on the Federal Unsubsidized Stafford Loan while the student is in school. The current interest rate varies per year, but will not exceed 8.25 percent.

Fees of approximately three percent will be deducted from each loan by the lender. Funds will arrive at the college in two disbursements by co-payable check or electronic funds transfer (EFT).

Based on the information received on the FAFSA, the student may receive either a Stafford, or unsubsidized Stafford, or a combination of both loans. The total cannot exceed the following Maximums: $2,625 Freshman 1-29 credits
$3,500 Sophomore 30-59 credits
$5,500 Junior 60-89 credits
$5,500 Senior 90+ credits

If the student is independent as determined by the Office of Student Financial Planning, he or she may be eligible to borrow an additional unsubsidized Stafford Loan. First and second year students may borrow $4,000/year and third and fourth year students may borrow $5,000/year.

To apply for either type of Stafford Loan the student must call PHAA at 1-800-692-7392 to obtain a Master Promissory Note and application. Out-of-state students should contact the Office of Student Financial Planning to receive a Pennsylvania Stafford Loan application and should use one of the "preferred lenders" to receive faster and more efficient service while borrowing and during repayment.

Evening Students
Loans will be certified on a case-by-case basis depending upon the academic level and transfer credits of the student. Annual loan terms for Stafford and Unsubsidized Stafford loans are based on a minimum of 4 modules per year. Students must complete a minimum of 24 credits before they are eligible for another loan maximum. For certification of loans, six credits per module is considered full time and three credits per module in considered half time.

Federal PLUS Loan
The Federal PLUS loan is available to parents of dependent students. PLUS loans require a credit check, so allow six weeks for processing time. The student must be enrolled at least half time (six credits per semester) to be eligible for this loan.

The PLUS loan has a maximum loan of cost of education minus other financial aid. However, your lender has an option to lower maximum. The current interest rate varies per year, but will not exceed nine percent.

If the parent is rejected for a PLUS loan, the student may borrow an unsubsidized loan in his/her own name.

Checks are made co-payable to the parent and sent to the college in two disbursements. Feeds of approximately four percent will be deducted from the loan. Principal and interest payments are due after disbursement. There is no deferment while the student is in school, unless the parent is experiencing financial hardship. For these cases, forbearance may be available.

Pennsylvania students should contact their lenders for a PLUS loan application. Out-of-state students can contact the Office of Student Financial Planning to received a PLUS loan application. Lenders will provide additional information on terms and conditions and sample loan repayment schedules.

Alternative Loan Programs
Alternative loans are designed to assist students and their families who either are not eligible for federal grant and loan funds, or who need additional educational financing. Loan approval is generally based on creditworthiness and ability to repay. The primary borrower for alternative loans is the student, however, most dependent students will require a co-signer. The interest on most alternative loans must be paid while the student is in school; however, the principal can be deferred until after graduation or when the student ceases to be enrolled at least half time. As with any loan, careful consideration should be made in determining amounts to be borrowed, as the loan must be repaid. Consult the attached list of lenders for additional information, paying special attention to the interest rate, eligibility requirements and additional fees charged. Contact the college or the lender for loan application materials.

PNC Band Resource Loan
1-800-762-1001
www.eduloans.pncbank.com
*Current interest rate is 7.80% as of 4/1/99.
*4% fee with a co-signer.
7% fee without co-signer
*Annual limit is cost of education minus other aid.

Key Alternative Loan
1-800-KEY-LEND
www.keybank.com/educate
*Current interest rate is 7.83% as of 4/1/99.
*4% fee with co-signer.
9% fee without co-signer.
*Annual limit for freshmen is $7,500; all others $10,000.

CitiAssist Loan
1-800-692-8200, Operator 302
www.citibank.com/student/assist.htm
*Current interest rate is 8.75% as of 4/1/99.
*No loan fees.
*Annual limit is $10,000.

Outside Agencies
New Jersey Class Loan
This loan is for New Jersey residents and their parents. Students must be enrolled at least half time (6 credits per semester). Applicants must have a satisfactory credit record, and the interest rate depends upon the repayment options selected. Principal can be deferred while the student is in school. To apply or receive information, call: NJHEAA at 1-800-792-8670.

Home Equity Loans
Home equity loans and lines of credit are available through most lending institutions. These loans generally have a competitive interest rate and in most cases offer deductibility of interest from income taxes. (Contact your tax advisor for criteria on deductibility of interest.) Contact your lender for details on this type of loan.

Private Scholarship Sources
While it takes some effort to find these competitive private sources, it is well worth the time if you locate additional funds. See high school guidance counselors, your public library, and the Office of Student Financial Planning which has a limited supply of private scholarship applications, and web sites to explore for scholarship searches on the internet.

Veterans Administration Benefits
Junior G. I. And Veterans Educational Benefits are available for children and spouses of veterans who died or who were totally disabled in the service.

For more information contact the Veterans Administration at 1-800-827-1000 or 1-888-442-4551 or the Veterans Affairs Coordinator in the Office of Student Financial Planning.

Office of Vocational Rehabilitation
The Pennsylvania Office of Vocational Rehabilitation (OVR) is an agency that gives educational monies to students with disabilities.

To receive additional information, contact the office nearest your home. The office closest to Alvernia College is located at 1090 Commons Blvd., Reading, PA 19605 and can re reached at (610)378-4370 or 1-800-442-0949.

Financial Aid for Summer Team
Stafford Loans, Pennsylvania State Grants and Pell Grants may be available on a limited basis. Contact the Office of Student Financial Planning for details on individual eligibility during the summer.

To apply for aid follow these steps:
1. Send Free Application for Federal Student Aid to processor. This form must filed by April 1 immediately preceding the fall semester in which the student seeks enrollment, and is available through high school guidance offices and the Alvernia College Office of Student Financial Planning. There will be a four-week processing time until the information is processed and forwarded to the college.

2. Obtain acceptance to Alvernia College. Students must be accepted to receive a financial aid package. Contact the Office of Admissions for an application.

3. Parents and students may be asked to send their U.S. Income Tax Return(s) to Alvernia College.

4. Obtain Stafford loan, PLUS application or other alternative loan program applications. Complete and forward to your lender by July 1 for the fall semester, November 1 for the spring semester, and April 1 for the summer session.

Families with special circumstances should submit their circumstances in writing to the Director of Student Financial Planning. For a copy of the guidelines for special circumstances, please call the Office of Student Financial Planning. Additional aid will be processed on a funds-available basis.

Students may deduct the aid on their award letter from their bill received from the Cashier's Office. Students should make note of those grants that are only estimates. Accounts will be credited after the add/drop period as long as the student has complied with all requirements set by the Office of Student Financial Planning. As soon as final figures are knows for federal and state grants, they will be credited to your account in addition to SEOG and Alvernia grants and scholarships. Half of the aid will be credited in the fall, half in the spring. Perkins, health Professions, and O'Rourke Loans will be credited to accounts after the student signs the promissory note.

Work program checks are not credited to the bill; rather, students are encouraged to use these earnings for spending money related to educational expenses.

Students should remember to deduct three percent (3%) lender fees from their Stafford/PLUS loan awards before deducting the loan from their bill. Stafford and PLUS checks are sent directly to the college. Students and parents must endorse checks before they will be credited to accounts unless the lender participates in electronic funds transfer (EFT).

If a student is receiving an outside scholarship, he/she must notify the Office of Student Financial Planning by sending us a copy of the award letter. The Cashier's Office can then extend credit to the student until the scholarship arrives. The college must include the scholarship as financial aid when determining eligibility for other aid such as a Stafford Loan. If you are receiving tuition reimbursement from your employer, contact the Office of Student Financial Planning to report the amount.

The college reserves the right to change the configuration of any award package throughout the academic year. Adjustments could result from (but are not limited to) one or more of the following: change in income reported; change in enrollment status; change in need; and additional outside assistance. The financial planning director will analyze each adjustment on an individual basis. Federal regulations prohibit a student from receiving aid in excess of his or her need.

The college will not disburse Alvernia College or Title IV monies to students who are in default on any educational loan or who owe a refund on Title IV money at any college.

If a student does not attend in the fall semester or withdraws from Alvernia College, all financial aid commitment by the college is terminated.

Contact theOffice of Student Financial Planning for details on other Financial Aid Policies.

Continued financial assistance is contingent upon the student maintaining satisfactory academic progress as defined by the Office of Student Financial Planning. It is the student's responsibility to inquire as to how the financial aid academic progress standards will affect his or her academic standing (i.e. dropping or withdrawing from classes and/or falling below a certain GPA). Academic progress standards are send to each student when he or she is awarded any type of financial aid. Full time students are required to complete 24 credits per academic level and to achieve a minimum cumulative grade point average of 1.8 during their first year, 1.9 during their second year, and 2.0 thereafter. Further details of these standards are available in the Office of Student Financial Planning.

For students who withdraw prior to the end of the semester and have received Federal Title IV assistance toward tuition at Alvernia College, monies must be refunded in accordance with Federal regulation 668.22. Students attending Alvernia College for the first time must be processed under the pro rata refund policy. For students not under the pro rata refund policy, and up until the end of the fourth week of classes, the college will use the institutional refund policy. Thereafter, the college will use the federal refund policy. This procedure is according to federal regulations and will produce the larger refund. The federal regulations will determine how much of that refund must be returned to the Title IV programs. Contact the Office of Student Financial Planning with any questions.

If you would like more detailed information concerning financial aid, please contact the Office of Student Financial Planning. Feel free to write or call with any questions or concerns. We are here to serve you.
Alvernia College
Office of Student Financial Planning
400 Saint Bernardine St.
Reading, PA 19607
(610) 796-8215