In order to assist students who are unable to meet the cost of financing a college education, the Office of Student Financial Aid administers an extensive program of scholarships, grants, loans, and part-time employment opportunities. Demonstrated financial need is the primary factor used in the awarding of financial aid, although some scholarships are given each year in recognition of superior academic achievement or special talent. Approximately 92 percent of full-time freshmen applied for financial aid in the fall 2012 semester, and 73 percent of those students were awarded need-based financial assistance. The average need-based financial aid package was $9,402. This includes scholarships, grants, loans, and federal work-study employment. Entering freshmen are encouraged to use our Net Price Calculator to estimate the cost of attendance after typical grant and scholarship awards.
General Eligibility Standards
Applicants should be aware that virtually all financial assistance awarded by the College is limited to:
- Students who have been accepted into a program that will lead to a degree.
- Students who are U.S. citizens or eligible noncitizens.
- Students who are enrolled at the College carrying at least one-half the normal full-time academic load (limited Federal Pell Grants are available to some students studying less than half-time).
- Students who are maintaining satisfactory academic progress (see below).
For financial aid purposes, student status is normally verified at the end of the Add period (first two weeks of a semester). Hence, those who are officially classified as non-matriculated students, visiting students, or special students should anticipate that their awards would be canceled. Students whose status at the end of the Add period is less than full time should expect that the amount of their award(s) might be reduced proportionately and/or canceled.
Application Procedure for 2014-2015
To apply for any need-based financial aid, you must complete the Free Application for Federal Student Aid (FAFSA) or FAFSA on the Web at www.fafsa.gov. We strongly encourage students to apply on-line, but students wishing to use the paper FAFSA may request up to three copies by calling the Federal Student Aid Information Center at 1-800-433-3243. In addition, you must complete the Rhode Island College Financial Aid Application if you wish to be considered for need-based Rhode Island College grants and scholarships.
This form is available from the Office of Student Financial Aid. It may also be obtained online (click here for Forms page).
Applications should be submitted as soon after January 1 as possible. To have your FAFSA information sent to Rhode Island College, enter our Federal School Code, 003407, in Step 6 of the FAFSA. It is not necessary to list the college name, address or state, but be sure to enter a housing code to indicate where you plan to live while attending the College. While it is preferable to use income figures from a completed 2013 income tax return, you may use estimated income figures if necessary to ensure on-time application. Priority for funds administered by Rhode Island College is given to students who complete the financial aid process in accordance with the following deadlines:
Incoming Freshmen (Fall Semester)
- Application for admission on file with the Office of Undergraduate Admissions by March 15.
- FAFSA on file at the federal processing center by March 1.
- The Rhode Island College Financial Aid Application on file at the Office of Student Financial Aid by March 1.
Readmitted and New Transfer Students (Fall Semester)
- Application for admission on file with the Office of Undergraduate Admissions by June 1.
- FAFSA on file at the federal processing center by May 15.
- For Transfer Students only –the Rhode Island College Financial Aid Application on file at the Office of Student Financial Aid by May 15.
Incoming Freshman, New Transfers, and Re-admitted Students (Spring Semester)
- FAFSA on file at the federal processing center by November 15.
- For Freshmen and Transfer Students only – the Rhode Island College Financial Aid Application must be received at the Office of Student Financial Aid by November 15.
Note: Awards for students entering in the spring semester are contingent on available funding. The college does not hold funds aside for students entering in the spring.
Applicants should fill out all forms completely and accurately in order to avoid delays in processing and possible loss of financial aid. Adherence to deadlines is strongly advised. Late applicants are only considered for funds that may be available after on-time applicants are awarded.
After the FAFSA is submitted, the federal processor sends the student a Student Aid Report (SAR). Be sure Rhode Island College is listed on the SAR, otherwise we will not be able to receive your information from the federal processor. If Rhode Island College is not listed or a SAR is not received within four to six weeks, contact the Federal Student Aid Information Center at 1-800-433-3243.
Financial aid awards are not automatically renewable unless specified otherwise in your award letter. Almost all student aid at the College must be reapplied for every year.
Note: Rhode Island College reserves the right to require verification of income data submitted by any and all applicants for financial assistance. Awards for those who are asked for such verification will be made conditional upon receipt of the requested information/documentation. Forms of documentation or verification that may be requested include, but are not limited to, transcripts of federal income tax returns and copies of authorization letters for untaxed income. Any discrepancy in reported figures may result in adjustment or cancellation of the financial aid award and may be reported to the federal government for further review and possible legal action.
All awards made by or through the College are conditional and are based upon information available to College officials at the time the award is made. All awards are, therefore, subject to change and/or cancellation, should the College become aware of facts, conditions, and/or circumstances that differ from those upon which the award(s) was (were) based. Similarly, all awards are contingent upon the receipt by the College of sufficient funding from state, federal, or other funding sources and/or donors to cover award offers.
Financial Aid for Summer Sessions
In addition to the process outlined above, students who wish to apply for financial assistance for summer sessions must submit a Rhode Island College Application for Financial Aid-Summer Sessions. These forms are available from the Office of Student Financial Aid on or about February 1 each year. A form may also be obtained online (see Forms on Main Page). Summer Session aid is contingent upon the availability of funds and normally consists of Direct Loans, Pell Grants and Federal Work-Study. Preference is given to applicants who file summer applications prior to April 1.
Standards for Measuring Satisfactory Academic Progress of Undergraduate Financial Aid Recipients
Standards of satisfactory academic progress for student aid recipients measure both the quantity and quality of course work completed. All credit hours attempted, with the exception of credit hours dropped during the first two weeks of the semester (or corresponding time for Summer session courses), are counted to determine placement in the schedule below. In addition, federal regulations require that student aid eligibility be terminated once a student has attempted 150% of the credit hours needed to complete an undergraduate degree program. Satisfactory academic progress is measured once each academic year at the end of the Spring semester.
|CREDITS ATTEMPTED||REQUIRED SUCCESSFUL COMPLETION||MINIMUM CUMULATIVE G.P.A.|
|0 to 12||-----||-----|
|13 to 29||40%||1.00|
|30 to 59||45%||1.75|
|60 to 89||50%||1.90|
|90 to 119||55%||2.00|
|120 to 149||60%||2.00|
|150 to 180||67%||2.00|
TRANSFER CREDITS: Credits transferred into Rhode Island College are included as credits attempted to determine placement in the above schedule.
TREATMENT OF "W", "I", AND "F" GRADES: Credits for all courses with these grades will be added to credits attempted to determine placement in the above schedule.
REPEATED COURSES: Credits for all repeated courses will be included in the total of credits attempted.
TOTAL LIMIT ON ATTEMPTED CREDITS: Rhode Island College does not provide student financial aid to undergraduate students attempting more than 180 credits.
APPEALS AND REINSTATEMENT OF ELIGIBILITY: If a determination is made that a financial aid applicant is not making satisfactory academic progress, the applicant will be considered ineligible for all student financial aid programs for the next academic period. If a student believes that there are extenuating circumstances that contributed to the failure to maintain satisfactory academic progress, the determination of student aid ineligibility may be appealed to the Director of Student Financial Aid. Student appeals should be submitted in writing. Student appeals not resolved by the Director of Student Financial Aid may be further appealed to the Assistant Vice President for Academic Affairs.
The above Standards of Satisfactory Academic Progress are not designed to replace the standards that the College uses for Academic Dismissal/Probation. It is possible for a student to lose financial aid eligibility without losing status as a degree candidate. However, once a student loses status as a degree candidate, he or she will also lose eligibility for financial aid.
Student aid eligibility may be reinstated during the academic year once a student successfully completes the required number of credits with the required cumulative grade point average.