Federal Aid, State Aid, and Loans
Cost shouldn't be a barrier to a private college education. Our financial aid officers
are available to talk about affordability, including scholarships, grants, and loans.
For specific info regarding the availability of financial aid, please contact the Financial Aid Office at (610) 526-2966 or finaid@rosemont.edu. The Financial Aid Office is open Monday through Friday from 9:00 a.m. to 5:00 p.m. and by appointment.
For info about merit scholarships for traditional undergradaute students should contact the Office of Admissions at (610) 526-2966.
State Aid
Pennsylvania State Grant
A grant for Pennsylvania residents, the amount is based on the student's Expected Family Contribution and the cost of the college attended. Students must file the FAFSA by May 1st to meet the deadline.
- Fostering Independence Tuition Waiver Program: The Fostering Independence Tuition Waiver Program provides a waiver for tuition and mandatory fees charged by most postsecondary institutions located in the Commonwealth for youth who are or were in foster care. This waiver applies only to charges that remain after all other gift aid (federal, state, and other scholarships or grants) have been applied to the student’s account. For more information, please contact Theresa Hammond in the Office of Financial Aid at theresa.hammond@rosemont.edu or 610-871-3533.
Out-of-State Awards
The following states will allow their awards to be transferred to the State of Pennsylvania (Delaware, Massachusetts, West Virginia, District of Columbia, Ohio, and Vermont). The maximum allowed is $526.
Alternative Loans
Also known as private loans, alternative loans are non-federal loans offered by private lenders such as a bank or credit union. They are available for both traditional undergraduate students and adult students in accelerated bachelor's degree or graduate programs.
Federal Aid
Pell Grant
A Pell Grant is awarded by the federal government. The amount is determined by the student's Expected Family Contribution from the FAFSA. A student may receive up to 12 full-time semester awards only.
Supplemental Educational Opportunity Grant (SEOG)
Known more commonly known as SEOG, the Federal Supplemental Educational Opportunity Grant, is reserved for college students who have the most need for financial aid.
Direct PLUS Loan
A credit-based federal loan program for the parents of dependant undergraduate students. Credit-worthy parents can borrow up to the cost of education not covered by other aid through the Federal PLUS Loan program.
Federal Work Study
Each year, Rosemont College receives federal funding to provide employment opportunities to students who qualify. Work study is a part of your overall financial aid and will be listed as a type of aid on your award letter. Although funding for the program is limited, it provides an excellent opportunity for students to gain work experience and earn money.
Direct Subsidized/Unsubsidized Loans
A federal student loan program to help fund educational costs. Most students who qualify for federal student aid are eligible for the Federal Direct Loan. The maximum amount a student can borrow is determined by the student's grade level. If the student has financial need, the Direct Need will be subsidized (which means the federal government pays the interest during the enrollment and 6-month grace periods).
If the student has no financial need, if the financial need has been met through other sources, or if the student has already borrowed the maximum, then the Direct Loan will be Unsubsidized (the studentis responsible for the interest payments during the enrollment and 6-month grace periods).
Loan Limits
Students who qualify for federal student aid generally qualify for Direct Loans. The maximum amount a student can borrow is determined by their grade level. First year students can borrow up to $5,500; second year students can borrow up to $6,500; and third and fourth year students can borrow up to $7,500 for the academic year.
The annual loan limits include $2,000 Unsubsidized Direct Loan eligibility per academic year. Independent students may be able to borrow additional Unsubsidized Direct Loan in addition to the base loan amounts.
Independent students may be able to borrow up to an additional $4,000 Unsubsidized Direct Loan for the first and second academic year and up to an additional $5,000 for the third and fourth academic year. Dependent students whose parents are denied the PLUS can borrow at the same loan limits as independent students.
In addition to the annual loan limits, there is a limit to the total amount a student can borrow during his or her educational career. The chart below summarizes the lifetime Direct Loan limits.
Dependent Students
Annual Loan Limits - Direct Loan
| Dependent Students |
Combined Base Limit for Subsidized and Unsubsidized Loans | Additional Limit for Unsubsidized Loans | Total Limit for Subsidized and Unsubsidized Loans |
| First-Year Undergraduate |
$3,500 | $2,000 | $5,500 |
| Second-Year Undergraduate |
$4,500 | $2,000 | $6,500 |
| Third & Fourth Year Undergraduate |
$5,500 | $2,000 | $7,500 |
Independent Students
Annual Loan Limits - Direct Loan
|
Independent Students |
Combined Base Limit for Subsidized and Unsubsidized Loans |
Additional Limit for Unsubsidized Loans |
Total Limit for Subsidized and Unsubsidized Loans |
| First-Year Undergraduate |
$3,500 | $6,000 | $9,500 |
| Second-Year Undergraduate |
$4,500 | $6,000 | $10,500 |
| Third & Fourth Year Undergraduate |
$5,500 | $7,000 | $12,500 |
The amount of Direct Subsidized/Unsubsidized Loan listed on the financial aid award letter is the gross amount.
- The government charges loan processing fees of 1% upfront on all new loans effective July 1, 2010 with an upfront rebate of .05% for future on-time payments for a net fee of .05%.
- The net amount of the loan will be reflected on your student bill.
- A Direct Plus loan has a loan fee of 4.0% with an upfront rebate of 1.5% for a net fee of 2.5%.
Subsidized vs Unsubsidized Loans
If the student has financial need, a portion of the Direct Loan will be Subsidized (which means the federal government pays the interest during the enrollment and 6-month grace periods). If the student has no financial need, if the financial need has been met through other sources, or if the student has already borrowed the maximum Subsidized, then the Direct Loan will be Unsubsidized (the student is responsible for the interest during the enrollment and 6-month grace periods).
Interest on Direct Unsubsidized Loans begins to accrue after disbursement, however, the student may choose to have the interest payments deferred during enrollment and capitalized (added to principal) when repayment begins.
Direct Subsidized Loans for undergraduate students disbursed between July 1, 2011 and June 30, 2012 will have a fixed interest rate of 3.4%, and Direct Unsubsidized Loans during this timeframe will have an interest rate of 6.8%. For graduate students, both Direct Subsidized/Unsubsidized Loans will have a fixed interest rate of 6.8%
In addition to the annual loan limits, there is a limit to the total amount a student can borrow during his or her educational career. The chart below summarizes the lifetime Direct Loan limits.
Aggregate Loan Limits - Direct Loan
| Combined Base Limit for Subsidized and Unsubsidized Loans | Additional Limit for Unsubsidized Loans | Total Limit for Subsidized and Unsubsidized Loans | |
| Dependent Undergraduate Students | $23,000 | $8,000 | $31,000 |
| Independent Undergraduate Students (and dependent students whose parents were denied a PLUS loan) | $23,000 | $34,500 | $57,500 |