Funding Sources

Applying for financial aid (submitting a FAFSA) is the only way to be considered for federal or state funding for your education. If you qualify for financial aid, you will receive an award comprised of various funding sources from the list below. For more information about these sources, please contact the Office of Student Financial Assistance: 203-576-5937 or svcfinancialaid@sacredheart.edu.

Eligibility for Federal Financial Aid

To be eligible for federal financial aid, a student must:

  • be a U.S. citizen or eligible non-citizen
  • have a valid social security number
  • have a high school diploma or a recognized equivalent such as a GED, or certificate of completion of home-study program approved by the student’s home state
  • maintain Satisfactory Academic Progress towards a degree or certificate in eligible program
  • be registered for Selective Service
  • not be in default on Federal Student Loans or have an overpayment on a federal and/or state grant
  • not be convicted for an illegal drug offense while receiving federal student aid
  • be enrolled or accepted as a regular student towards a degree or certificate in an eligible program
Program Who is Eligible Amounts (may vary)
Federal: Pell Grant U.S. citizen or permanent resident alien enrolled as a college undergraduate. For 2018-19, up to $6,095 a year for FAFSA EFC below $5,486.
Federal: Supplemental Educational Opportunity Grant (SEOG) U.S. citizen or permanent resident alien enrolled as a college undergraduate. Up to $4,000 a year.
Iraq and Afghanistan Service Grant A student whose parent or guardian was a member of the U.S. Armed Forces and died as a result of service performed in Iraq or Afghanistan after 9/11/01. Must be ineligible for a federal Pell Grant due only to having less financial need than required to receive Pell funds. Must be under 24 years old or enrolled in college at least part-time at the time of the parent’s or guardian’s death. Equal to the amount of a maximum Pell Grant for the award year, not to exceed the cost of attendance for that award year.
State: Roberta B. Willis Scholarship – Merit-Based Award CT resident who is a high school senior or graduate with a high school junior year class rank of 20% or better and/or SAT scores of at least 1210 or ACT score of at least 27. Recipient must attend a CT public or non-profit private college. Up to $4,650 a year for full-time attendance in a 2-year program of study.
State: Roberta B. Willis Scholarship –
Need-Based Award
CT resident who attends a CT public or non-profit private college. Recipient must have a federal Expected Family Contribution (EFC) within the allowable range. Up to $4,500 for full-time study in a 2- or 4-year program of study.
SVC at SHU Scholarships Students enrolled in a degree-seeking program who show financial need (as determined by current FAFSA), demonstrate high academic achievement (measured by cumulative SVC at SHU GPA) or meet the standards set by the institution and/or private donor. No additional application necessary. Award amounts vary dependent on donor specifications and individual funding source allocations.
Outside Scholarships Eligibility varies by individual scholarship. Award amounts vary by scholarship.

Loans for Undergraduate Students

Program Who is Eligible Amounts (may vary)
Federal: Direct Subsidized Loan (interest paid by government while borrower is in school) U.S. citizen or permanent resident alien enrolled at an eligible postsecondary institution. $3,500- yr 1
$4,500- yr 2
Aggregate Limit – $23,000
Fixed interest rate of 4.45% (7/1/17 – 6/30/18).
Federal: Direct Unsubsidized Loan (interest paid or accrued by borrower while borrower is in school) U.S. citizen or permanent resident alien enrolled at an eligible postsecondary institution. Dependent students are eligible for an additional $2,000.
Aggregate Limit for Dependent students – $8,000
Independent students are eligible for an additional: $4,000 yr 1 & 2.
Aggregate Limit for Independent Students – $34,500
Alternative Loans Alternative loans provide an additional funding option. St. Vincent’s College does not endorse and is not able to recommend a lender. Students may apply, and once credit is approved, the financial assistance office is notified by the lender to certify the loan. May annually borrow up to full cost of education less other aid.

Loans for Families

Program Who is Eligible Amounts (may vary)
Federal: PLUS Loan Parents who wish to borrow to help pay for their child’s education. May annually borrow up to full cost of education less other aid. Fixed interest rate of 7.0% (7/1/17-6/30/18).
State: CHESLA Loan Family with student enrolled at least half-time in a CT public or non-profit private college or a CT resident enrolled at least half-time in a public or non-profit private college anywhere in the U.S. May annually borrow up to full cost of education less other aid at a low fixed interest rate (4.95% or APR between 5.33% to 5.45%). Family only pays interest during in-school years. Upon completion of college, the loan is paid off over 140 months.

Work Opportunities for Students

Program Who is Eligible Amounts (may vary)
Federal: Work-Study U.S. citizen or permanent resident alien enrolled as an undergraduate or a graduate student. Varies, based on wages and hours worked.

Veterans Administration Benefits

Program Who is Eligible
GI Bill, Education and Training Visit the Veterans Administration GI Bill, Education and Training website.
 The National Military Family Association grant  The National Military Family Association grant has useful information for military families as well as a scholarship program for spouses of military members. MilitaryScholar.org offers scholarships for children of military members. The Horatio Alger Scholarship Program awards military scholarships to U. S. Veterans of the Iraq and Afghanistan conflicts.

Estimate your eligibility: We invite you to utilize the FAFSA4caster tool for an estimate of federal aid eligibility.