Financial Aid for First-Year Students - Albright College
Archived: 2026-04-23 17:15
Financial Aid for First-Year Students - Albright College
Skip To Main Content
Financial Aid for First-Year Students
We offer a wide range of financial aid options including scholarships, awards, grants, and campus employment. You can apply for financial aid when you apply for admission. And we’ll make sure you have a clear answer on your financial package in a few short weeks.
How much financial aid do you need?
It’s helpful to understand what the total cost of your education will be, factoring in tuition, fees, books and supplies. The Net Price Calculator is a great tool that can help you accurately determine your financial commitment over the next four years.
Net Price Calculator
Applying for Financial Aid
Step 1:
Students and Parents – create your FSA account
! Your Federal Student Account makes the signature requirements on your FAFSA a breeze! You will also need an FSA ID to secure your federal student loans. Keep your FSA ID handy as you will use it every year.
Step 2:
Complete your
FAFSA form
.
The Albright College Federal School Code for your FAFSA is
003229
. The FAFSA is required for all types of financial aid, including student jobs on campus.
The FAFSA form is typically available beginning October 1
st
each year. It is recommended that all students applying to college submit their FAFSA to maximize their available aid, including campus jobs. The U.S. Department of Education’s Office of Federal Student Aid offers helpful, brief
videos
to learn more about the FAFSA and financial aid process.
Additional aid may be available if your family’s financial situation has changed. Contact the Financial Aid Office (610-921-7680) for more information or if you have questions or concerns.
Complete listing of Tuition and Fees per academic year
Fall Enrollment
Application Deadline
Rolling (Starting in October)
Financial Aid Deadline
April 30
Admission Notification
Rolling (starting in September)
Financial Aid Notification
Rolling (starting in January)
Student Response Deadline
June 1
Spring Enrollment
Application Deadline
December 15
Financial Aid Deadline
December 15
Admission Notification
Rolling (starting in November)
Financial Aid Notification
Rolling (starting in Nov.)
Student Response Deadline
January 15
Types of Financial Aid
You will receive a letter with the total amount of your award, and the award amounts from each program. A typical financial aid award includes
Grant/Scholarship/Award
– A gift to you that does not have to be repaid
Other
– Funding based on specific requirements
Loan(s)
– Borrowed funds that must be repaid, with interest
Employment
– On-campus jobs that provide money for educational costs. (Federal work study, college employee)
View Scholarships
View Awards
Shirk Scholarship
: $22,000 per year, are offered to Berks County students who are dedicated to community service, leadership, strength of character and commitment to excellence.
Presidential Scholarship
: $20,000 per year. Presidential Scholars generally rank in the top five percent of their graduating class and demonstrate strong leadership skills and commitment to service.
Dean’s Scholarship
: $18,000 per year. Dean’s Scholars have excellent academic records and demonstrate a commitment to school and community.
Faculty Scholarship
: $16,000 per year. Albright Scholars have strong academic records.
Connection Scholarship:
Awards $16,000 per year to students who demonstrate strong academic achievement and a commitment to building meaningful relationships within their school and community. Connection Scholars value collaboration, engagement, and the power of community both inside and outside the classroom.
Recognition Scholarship:
Awards $16,000 per year to students who have demonstrated outstanding academic achievement along with leadership and involvement in their school or community. Recognition Scholars are acknowledged for their dedication, initiative, and positive impact on those around them.
13th Street Scholarship
: North 13th Street in Reading, Pennsylvania is noted by Ripley’s Believe it or Not as the only place in the United States where a student can go from kindergarten through college by taking classes at schools on the same street. In recognition of this educational phenomenon, the 13th Street Scholarship is awarded to all accepted students who have graduated from Reading High School, Northeast Middle School and 13th & Green and/or 13th & Union Elementary Schools
Warren L. Davis Scholarship
: This prestigious invitation-only scholarship covers full tuition, as well as room and board costs at Albright College. It is awarded to those students who display exceptional academic performance and have a desire to hone their creative and critical thinking skills so they may serve their communities beyond Albright. Students who are invited to apply must submit a prompted essay as well as a character recommendation. Select students will then be invited to campus for a series of interviews, including a meeting with the president of Albright College.
Legacy Award:
If you are a child or grandchild of an Albright College graduate, you are eligible to receive the Legacy Award. Candidates must provide documentation of legacy status in their application prior to an offer of admission.
Talent Award:
If you demonstrate outstanding creative talent and a serious commitment toward student leadership, you may be invited to apply for the Albright Talent Award. These renewable grants are awarded based on your portfolio, interview, or audition.
United Methodist Award
: In recognition of its affiliation with the United Methodist Church, Albright offers awards to incoming students who are active in their United Methodist Church. Candidates must provide a letter from their pastor clearly stating their active membership in the church. This letter must be received prior to May 1.
View Grants
Albright College Trustee Grants
: Albright College gives Trustee Grants based on financial need. These funds originate from several sources, including funds donated to the college.
Federal Government Grants
: Federal Pell Grants and Federal Supplemental Education Opportunity Grants are given by the federal government based on financial needs. Both programs can change from year to year based on the family’s financial circumstances. The Federal Supplemental Opportunity Grant is need-based and is given until the Federal fund has been exhausted.
State Grants
: Students
who are Pennsylvania residents
could be eligible for a Pennsylvania State Grant through the
Pennsylvania Higher Education Assistance Agency (PHEAA)
. Typically, the application for the PA State grant is initiated when a student from Pennsylvania submits a valid FAFSA. PHEAA has a strict filing
deadline of May 1
prior to the start of each academic year.
Students
who are not Pennsylvania residents
could be eligible for similar state grant aid programs in their home state. Not all surrounding states allow the student to receive state aid when attending a Pennsylvania institution. For more information about these aid programs, including eligibility requirements and filing deadlines, please contact your high school guidance office or the corresponding state agency that manages the aid programs in your home state.
Children of Fallen Heroes Act
: Under this scholarship, beginning with the 2018-2019 award year, a Pell-eligible student whose parent or guardian died in the line of duty while performing as a public safety officer is eligible to receive a maximum Pell Grant for the award year for which the determination of eligibility is made. To qualify for this scholarship, a student must be Pell-eligible and be less than 24 years of age or enrolled at an institution of higher education at the time of his or her parent’s or guardian’s death. In subsequent award years, the student continues to be eligible for the scholarship, as long as the student has a Pell-eligible SAI and continues to be an eligible student. If you feel you qualify for this program, please contact the Financial Aid Office directly at
finaid@albright.edu
or 610-921-7515.
Fostering Independence Tuition Waiver Program
: Created by Act 16 of 2019, this program seeks to remove barriers in accessing post-secondary education for youth who are or have been in foster care. This will allow eligible foster youth to complete their studies, graduate with less debt, and have the opportunity to build a network of support. To see if you qualify, please read the following:
FosterEd Student Brochure
Veterans Benefits Administration
: After your acceptance to Albright, you can obtain your educational benefits by applying through the
U.S. Department of Veteran's Affairs (VA)
. Once you confirm eligibilty for your benefits, provide your Certificate of Eligibilty (or Notice of Basic Eligibilty) to the registrar's office via email to
r
egistrar@albright.edu
. If you need assistance, contact
va@albright.edu
.
State, Federal, or Outside Tuition Grant Assistance
: All students receiving grant assistance from other institutions and/or states, must notify the Financial Aid Office. Tuition grants received from other institutions for tuition or from states other than Pennsylvania will be used to meet any unmet need in the financial aid package. However, if a need-based grant is awarded by Albright before we are informed of the outside tuition grant award eligibility, the need-based aid from Albright may be subject to change. Albright will allow our academic scholarship awards to be used for charges associated with tuition as well as room and board. [end drop-down list]
View Loans
Once you complete your FAFSA, you will be notified of which loans you qualify for and how much money you are eligible to borrow.
Federal Direct Student Loans
A Master Promissory Note (MPN) and Entrance Counseling must be completed to receive Federal Direct Student Loan funds. You may complete these steps
online.
There are two types of Federal Direct Student Loans
A
Direct Subsidized Loan
is awarded on the basis of financial need. You will not be charged interest before you enter into repayment. The federal government will pay the interest while you are in school at least half-time or during periods of deferment.
A
Direct Unsubsidized Loan
is not awarded on the basis of need. You will be charged interest from the time the loan is disbursed until it is paid in full. If you allow the interest to accumulate, it will be added to the principal amount of your loan and additional interest will be based upon the higher amount. If you are a dependent student whose parents do not qualify for a Federal PLUS Loan, or you are an independent student, you may qualify for an additional Direct Unsubsidized Loan.
Federal Direct Parent PLUS Loans
Application for this parent loan is a two-step process
after the student's FAFSA has been submitted
. It requires the biological parent to complete a loan request (credit check) and the Master Promissory Note (MPN). These two steps must be completed before the loan can be certified by Albright College. We recommend submitting this application
after July 1
- and applying for a full-year loan rather than one semester, as the loan amount will be split into two equal disbursements.
A parent can apply for this loan by logging into
Studentaid.gov
, using their own FSA account information. Once logged in, click on 'I'm a parent' and then 'Apply for a Parent PLUS Loan,' and complete all required information for the credit check. Once that is approved, the parent must complete the Master Promissory Note information and submit the loan application.
All loan funds will be credited to the student's account in two equal disbursements, one for each semester.
Private Student Loans
Educational loans are available through private lenders and are typically in the student's name, with a required credit-worthy co-signer. Review loans like this at
Elm Select
.
Employment
The Federal Work-Study Program is designed to help students earn money during the academic year for books, supplies, and other expenses. You can find and apply for student jobs through the
employment search portal
and selecting ‘student’ as the job type. Students with questions should contact HR Coordinator Erin Treitl at
etreitl@albright.edu
or call 610-921-7868.
Students must have a FAFSA on file to be reviewed for Federal Work-Study eligibility. Students who are not eligible for Federal Work Study can still obtain an on-campus position and can apply at the above link.
Federal Loans
Private Student Loans
Payment Plans
Federal Direct Student Loans
A Master Promissory Note (MPN) and Entrance Counseling must be completed to receive Federal Direct Student Loan funds. You may complete these steps
online.
There are two types of Federal Direct Student Loans
A
Direct Subsidized Loan
is awarded on the basis of financial need. You will not be charged interest before you enter into repayment. The federal government will pay the interest while you are in school at least half-time or during periods of deferment.
A
Direct Unsubsidized Loan
is not awarded on the basis of need. You will be charged interest from the time the loan is disbursed until it is paid in full. If you allow the interest to accumulate, it will be added to the principal amount of your loan and additional interest will be based upon the higher amount. If you are a dependent student whose parents do not qualify for a Federal PLUS Loan, or you are an independent student, you may qualify for an additional Direct Unsubsidized Loan.
Federal Direct Parent PLUS Loans
Application for this parent loan is a two-step process
after the student's FAFSA has been submitted
. It requires the biological parent to complete a loan request (credit check) and the Master Promissory Note (MPN). These two steps must be completed before the loan can be certified by Albright College. We recommend submitting this application
after July 1
- and applying for a full-year loan rather than one semester, as the loan amount will be split into two equal disbursements.
A parent can apply for this loan by logging into
Studentaid.gov
, using their own FSA account information. Once logged in, click on 'I'm a parent' and then 'Apply for a Parent PLUS Loan,' and complete all required information for the credit check. Once that is approved, the parent must complete the Master Promissory Note information and submit the loan application.
All loan funds will be credited to the student's account in two equal disbursements, one for each semester.
Before applying for private student loans, undergraduate and graduate students should have filed a FAFSA at www.fafsa.gov. Make sure to maximize your federal and state aid options before applying for additional loans. Borrowers and co-signers should review and compare information about interest rates, fees, loan terms and repayment terms. Interest rates are often determined by the credit history of borrower and/or co-signer. During the application process, selecting options such as in-school deferment and repayment schedule can directly affect interest rates. For specific questions, please contact the lenders directly.
A list of lenders can be found at
Elm Select.
You can find information on Albright payment plan options on the
Student Accounts webpage
.
Talk to our staff
Our financial aid staff is eager to answer your questions and help you navigate the financial aid process. If you have a question or concern, don’t hesitate to reach out to us. Email the financial aid team at
finaid@albright.edu
or call our office at 610-921-7515.
Determining Your Status
All students accepted by Albright College as degree-seeking candidates are eligible to apply for financial aid using the
Free Application for Federal Student Aid (FAFSA).
Funds provided to Albright College from federal and state sources are awarded to United States citizens and permanent resident aliens.
When determining your eligibility for Federal, State and Albright College financial aid, your enrollment status is defined as follows:
Full-Time
enrollment status applies to students taking 12+ credits per semester (Traditional and Accelerated Degree programs). Full-time status is required for the awarding of all institutional funds.
Half-Time
enrollment status (in both the day and evening programs) applies to students taking 6-11 credits per semester. At least half-time status is required for some grant programs and federal loan programs.
Less than Half-Time
enrollment status is for students taking less than 6 credits each semester. This may entitle a student to a modest Federal Pell Grant, but other aid programs are not applicable to this status.
Am I eligible for financial aid?
To be eligible for federal, state, and college financial aid, you must:
Be a U.S. citizen or provide documentation of permanent resident of refugee status.
Be degree-seeking.
Not owe a refund on a federal grant or be in default on any federal educational loan.
Have not been convicted for the possession or sale of illegal drugs during a time when receiving federal student aid.
Be making federal satisfactory academic progress (SAP) and be in good academic standing at the college.
Complete the FAFSA (for federal and some state aid only).
Comply with all requests from the Albright College Financial Aid Office for federal verification: tax transcripts, 1040x forms, W-2s or any other document requested by the office.
Verification
Verification is the process in which a financial aid office is required to test the accuracy of information reported by parents and students on the
Free Application for Federal Student Aid (FAFSA)
.
At minimum, required documentation will include the most recent Federal IRS Tax Transcript, copies of immediate past year W-2 forms, and a completed Federal Verification Worksheet.
Important Note: the verification process cannot accept signed copies of 1040 federal tax forms. All families selected for verification must request a
tax transcript from the IRS
or choose to use IRS data retrieval on their FAFSA to meet the verification requirements.
In addition to minimum requirements, the Albright College Office of Financial Aid may require you to provide proof of citizenship, copies of Social Security benefit statements, 1099 forms, corporate earnings statements or other information related to your income or assets. Financial aid applications are randomly selected by the federal FAFSA processor for verification. On a ongoing basis schools will verify at least 30% of all FAFSA applicants. If you are selected, the verification process is required for you to receive financial aid.
Skip To Main Content
Financial Aid for First-Year Students
We offer a wide range of financial aid options including scholarships, awards, grants, and campus employment. You can apply for financial aid when you apply for admission. And we’ll make sure you have a clear answer on your financial package in a few short weeks.
How much financial aid do you need?
It’s helpful to understand what the total cost of your education will be, factoring in tuition, fees, books and supplies. The Net Price Calculator is a great tool that can help you accurately determine your financial commitment over the next four years.
Net Price Calculator
Applying for Financial Aid
Step 1:
Students and Parents – create your FSA account
! Your Federal Student Account makes the signature requirements on your FAFSA a breeze! You will also need an FSA ID to secure your federal student loans. Keep your FSA ID handy as you will use it every year.
Step 2:
Complete your
FAFSA form
.
The Albright College Federal School Code for your FAFSA is
003229
. The FAFSA is required for all types of financial aid, including student jobs on campus.
The FAFSA form is typically available beginning October 1
st
each year. It is recommended that all students applying to college submit their FAFSA to maximize their available aid, including campus jobs. The U.S. Department of Education’s Office of Federal Student Aid offers helpful, brief
videos
to learn more about the FAFSA and financial aid process.
Additional aid may be available if your family’s financial situation has changed. Contact the Financial Aid Office (610-921-7680) for more information or if you have questions or concerns.
Complete listing of Tuition and Fees per academic year
Fall Enrollment
Application Deadline
Rolling (Starting in October)
Financial Aid Deadline
April 30
Admission Notification
Rolling (starting in September)
Financial Aid Notification
Rolling (starting in January)
Student Response Deadline
June 1
Spring Enrollment
Application Deadline
December 15
Financial Aid Deadline
December 15
Admission Notification
Rolling (starting in November)
Financial Aid Notification
Rolling (starting in Nov.)
Student Response Deadline
January 15
Types of Financial Aid
You will receive a letter with the total amount of your award, and the award amounts from each program. A typical financial aid award includes
Grant/Scholarship/Award
– A gift to you that does not have to be repaid
Other
– Funding based on specific requirements
Loan(s)
– Borrowed funds that must be repaid, with interest
Employment
– On-campus jobs that provide money for educational costs. (Federal work study, college employee)
View Scholarships
View Awards
Shirk Scholarship
: $22,000 per year, are offered to Berks County students who are dedicated to community service, leadership, strength of character and commitment to excellence.
Presidential Scholarship
: $20,000 per year. Presidential Scholars generally rank in the top five percent of their graduating class and demonstrate strong leadership skills and commitment to service.
Dean’s Scholarship
: $18,000 per year. Dean’s Scholars have excellent academic records and demonstrate a commitment to school and community.
Faculty Scholarship
: $16,000 per year. Albright Scholars have strong academic records.
Connection Scholarship:
Awards $16,000 per year to students who demonstrate strong academic achievement and a commitment to building meaningful relationships within their school and community. Connection Scholars value collaboration, engagement, and the power of community both inside and outside the classroom.
Recognition Scholarship:
Awards $16,000 per year to students who have demonstrated outstanding academic achievement along with leadership and involvement in their school or community. Recognition Scholars are acknowledged for their dedication, initiative, and positive impact on those around them.
13th Street Scholarship
: North 13th Street in Reading, Pennsylvania is noted by Ripley’s Believe it or Not as the only place in the United States where a student can go from kindergarten through college by taking classes at schools on the same street. In recognition of this educational phenomenon, the 13th Street Scholarship is awarded to all accepted students who have graduated from Reading High School, Northeast Middle School and 13th & Green and/or 13th & Union Elementary Schools
Warren L. Davis Scholarship
: This prestigious invitation-only scholarship covers full tuition, as well as room and board costs at Albright College. It is awarded to those students who display exceptional academic performance and have a desire to hone their creative and critical thinking skills so they may serve their communities beyond Albright. Students who are invited to apply must submit a prompted essay as well as a character recommendation. Select students will then be invited to campus for a series of interviews, including a meeting with the president of Albright College.
Legacy Award:
If you are a child or grandchild of an Albright College graduate, you are eligible to receive the Legacy Award. Candidates must provide documentation of legacy status in their application prior to an offer of admission.
Talent Award:
If you demonstrate outstanding creative talent and a serious commitment toward student leadership, you may be invited to apply for the Albright Talent Award. These renewable grants are awarded based on your portfolio, interview, or audition.
United Methodist Award
: In recognition of its affiliation with the United Methodist Church, Albright offers awards to incoming students who are active in their United Methodist Church. Candidates must provide a letter from their pastor clearly stating their active membership in the church. This letter must be received prior to May 1.
View Grants
Albright College Trustee Grants
: Albright College gives Trustee Grants based on financial need. These funds originate from several sources, including funds donated to the college.
Federal Government Grants
: Federal Pell Grants and Federal Supplemental Education Opportunity Grants are given by the federal government based on financial needs. Both programs can change from year to year based on the family’s financial circumstances. The Federal Supplemental Opportunity Grant is need-based and is given until the Federal fund has been exhausted.
State Grants
: Students
who are Pennsylvania residents
could be eligible for a Pennsylvania State Grant through the
Pennsylvania Higher Education Assistance Agency (PHEAA)
. Typically, the application for the PA State grant is initiated when a student from Pennsylvania submits a valid FAFSA. PHEAA has a strict filing
deadline of May 1
prior to the start of each academic year.
Students
who are not Pennsylvania residents
could be eligible for similar state grant aid programs in their home state. Not all surrounding states allow the student to receive state aid when attending a Pennsylvania institution. For more information about these aid programs, including eligibility requirements and filing deadlines, please contact your high school guidance office or the corresponding state agency that manages the aid programs in your home state.
Children of Fallen Heroes Act
: Under this scholarship, beginning with the 2018-2019 award year, a Pell-eligible student whose parent or guardian died in the line of duty while performing as a public safety officer is eligible to receive a maximum Pell Grant for the award year for which the determination of eligibility is made. To qualify for this scholarship, a student must be Pell-eligible and be less than 24 years of age or enrolled at an institution of higher education at the time of his or her parent’s or guardian’s death. In subsequent award years, the student continues to be eligible for the scholarship, as long as the student has a Pell-eligible SAI and continues to be an eligible student. If you feel you qualify for this program, please contact the Financial Aid Office directly at
finaid@albright.edu
or 610-921-7515.
Fostering Independence Tuition Waiver Program
: Created by Act 16 of 2019, this program seeks to remove barriers in accessing post-secondary education for youth who are or have been in foster care. This will allow eligible foster youth to complete their studies, graduate with less debt, and have the opportunity to build a network of support. To see if you qualify, please read the following:
FosterEd Student Brochure
Veterans Benefits Administration
: After your acceptance to Albright, you can obtain your educational benefits by applying through the
U.S. Department of Veteran's Affairs (VA)
. Once you confirm eligibilty for your benefits, provide your Certificate of Eligibilty (or Notice of Basic Eligibilty) to the registrar's office via email to
r
egistrar@albright.edu
. If you need assistance, contact
va@albright.edu
.
State, Federal, or Outside Tuition Grant Assistance
: All students receiving grant assistance from other institutions and/or states, must notify the Financial Aid Office. Tuition grants received from other institutions for tuition or from states other than Pennsylvania will be used to meet any unmet need in the financial aid package. However, if a need-based grant is awarded by Albright before we are informed of the outside tuition grant award eligibility, the need-based aid from Albright may be subject to change. Albright will allow our academic scholarship awards to be used for charges associated with tuition as well as room and board. [end drop-down list]
View Loans
Once you complete your FAFSA, you will be notified of which loans you qualify for and how much money you are eligible to borrow.
Federal Direct Student Loans
A Master Promissory Note (MPN) and Entrance Counseling must be completed to receive Federal Direct Student Loan funds. You may complete these steps
online.
There are two types of Federal Direct Student Loans
A
Direct Subsidized Loan
is awarded on the basis of financial need. You will not be charged interest before you enter into repayment. The federal government will pay the interest while you are in school at least half-time or during periods of deferment.
A
Direct Unsubsidized Loan
is not awarded on the basis of need. You will be charged interest from the time the loan is disbursed until it is paid in full. If you allow the interest to accumulate, it will be added to the principal amount of your loan and additional interest will be based upon the higher amount. If you are a dependent student whose parents do not qualify for a Federal PLUS Loan, or you are an independent student, you may qualify for an additional Direct Unsubsidized Loan.
Federal Direct Parent PLUS Loans
Application for this parent loan is a two-step process
after the student's FAFSA has been submitted
. It requires the biological parent to complete a loan request (credit check) and the Master Promissory Note (MPN). These two steps must be completed before the loan can be certified by Albright College. We recommend submitting this application
after July 1
- and applying for a full-year loan rather than one semester, as the loan amount will be split into two equal disbursements.
A parent can apply for this loan by logging into
Studentaid.gov
, using their own FSA account information. Once logged in, click on 'I'm a parent' and then 'Apply for a Parent PLUS Loan,' and complete all required information for the credit check. Once that is approved, the parent must complete the Master Promissory Note information and submit the loan application.
All loan funds will be credited to the student's account in two equal disbursements, one for each semester.
Private Student Loans
Educational loans are available through private lenders and are typically in the student's name, with a required credit-worthy co-signer. Review loans like this at
Elm Select
.
Employment
The Federal Work-Study Program is designed to help students earn money during the academic year for books, supplies, and other expenses. You can find and apply for student jobs through the
employment search portal
and selecting ‘student’ as the job type. Students with questions should contact HR Coordinator Erin Treitl at
etreitl@albright.edu
or call 610-921-7868.
Students must have a FAFSA on file to be reviewed for Federal Work-Study eligibility. Students who are not eligible for Federal Work Study can still obtain an on-campus position and can apply at the above link.
Federal Loans
Private Student Loans
Payment Plans
Federal Direct Student Loans
A Master Promissory Note (MPN) and Entrance Counseling must be completed to receive Federal Direct Student Loan funds. You may complete these steps
online.
There are two types of Federal Direct Student Loans
A
Direct Subsidized Loan
is awarded on the basis of financial need. You will not be charged interest before you enter into repayment. The federal government will pay the interest while you are in school at least half-time or during periods of deferment.
A
Direct Unsubsidized Loan
is not awarded on the basis of need. You will be charged interest from the time the loan is disbursed until it is paid in full. If you allow the interest to accumulate, it will be added to the principal amount of your loan and additional interest will be based upon the higher amount. If you are a dependent student whose parents do not qualify for a Federal PLUS Loan, or you are an independent student, you may qualify for an additional Direct Unsubsidized Loan.
Federal Direct Parent PLUS Loans
Application for this parent loan is a two-step process
after the student's FAFSA has been submitted
. It requires the biological parent to complete a loan request (credit check) and the Master Promissory Note (MPN). These two steps must be completed before the loan can be certified by Albright College. We recommend submitting this application
after July 1
- and applying for a full-year loan rather than one semester, as the loan amount will be split into two equal disbursements.
A parent can apply for this loan by logging into
Studentaid.gov
, using their own FSA account information. Once logged in, click on 'I'm a parent' and then 'Apply for a Parent PLUS Loan,' and complete all required information for the credit check. Once that is approved, the parent must complete the Master Promissory Note information and submit the loan application.
All loan funds will be credited to the student's account in two equal disbursements, one for each semester.
Before applying for private student loans, undergraduate and graduate students should have filed a FAFSA at www.fafsa.gov. Make sure to maximize your federal and state aid options before applying for additional loans. Borrowers and co-signers should review and compare information about interest rates, fees, loan terms and repayment terms. Interest rates are often determined by the credit history of borrower and/or co-signer. During the application process, selecting options such as in-school deferment and repayment schedule can directly affect interest rates. For specific questions, please contact the lenders directly.
A list of lenders can be found at
Elm Select.
You can find information on Albright payment plan options on the
Student Accounts webpage
.
Talk to our staff
Our financial aid staff is eager to answer your questions and help you navigate the financial aid process. If you have a question or concern, don’t hesitate to reach out to us. Email the financial aid team at
finaid@albright.edu
or call our office at 610-921-7515.
Determining Your Status
All students accepted by Albright College as degree-seeking candidates are eligible to apply for financial aid using the
Free Application for Federal Student Aid (FAFSA).
Funds provided to Albright College from federal and state sources are awarded to United States citizens and permanent resident aliens.
When determining your eligibility for Federal, State and Albright College financial aid, your enrollment status is defined as follows:
Full-Time
enrollment status applies to students taking 12+ credits per semester (Traditional and Accelerated Degree programs). Full-time status is required for the awarding of all institutional funds.
Half-Time
enrollment status (in both the day and evening programs) applies to students taking 6-11 credits per semester. At least half-time status is required for some grant programs and federal loan programs.
Less than Half-Time
enrollment status is for students taking less than 6 credits each semester. This may entitle a student to a modest Federal Pell Grant, but other aid programs are not applicable to this status.
Am I eligible for financial aid?
To be eligible for federal, state, and college financial aid, you must:
Be a U.S. citizen or provide documentation of permanent resident of refugee status.
Be degree-seeking.
Not owe a refund on a federal grant or be in default on any federal educational loan.
Have not been convicted for the possession or sale of illegal drugs during a time when receiving federal student aid.
Be making federal satisfactory academic progress (SAP) and be in good academic standing at the college.
Complete the FAFSA (for federal and some state aid only).
Comply with all requests from the Albright College Financial Aid Office for federal verification: tax transcripts, 1040x forms, W-2s or any other document requested by the office.
Verification
Verification is the process in which a financial aid office is required to test the accuracy of information reported by parents and students on the
Free Application for Federal Student Aid (FAFSA)
.
At minimum, required documentation will include the most recent Federal IRS Tax Transcript, copies of immediate past year W-2 forms, and a completed Federal Verification Worksheet.
Important Note: the verification process cannot accept signed copies of 1040 federal tax forms. All families selected for verification must request a
tax transcript from the IRS
or choose to use IRS data retrieval on their FAFSA to meet the verification requirements.
In addition to minimum requirements, the Albright College Office of Financial Aid may require you to provide proof of citizenship, copies of Social Security benefit statements, 1099 forms, corporate earnings statements or other information related to your income or assets. Financial aid applications are randomly selected by the federal FAFSA processor for verification. On a ongoing basis schools will verify at least 30% of all FAFSA applicants. If you are selected, the verification process is required for you to receive financial aid.