General Information
Felician University recognizes that many families may need assistance in meeting the cost of a college education. The Office of Financial Aid staff is trained to assist students and families in completing the financial aid process and receiving the maximum amount of aid based on eligibility in all the financial aid programs.
In order to be considered for scholarships and financial aid, students must:
- Be accepted by the University for admission to a degree or certificate program,and
- File the Free Application for Federal Student Aid (FAFSA). The application is available online at www.fafsa.ed.gov. Students who do not have access to a computer may request a paper version of the FAFSA at any high school Guidance Office or University Financial Aid Office. (The Felician University federal code is 002610).
Students applying for financial assistance are considered for every program for which they are eligible. The amount awarded may consist of a combination of grants, loans and employment and is based on the student’s financial need. The Office of Financial Aid determines all federal aid awards based on the Federal Methodology legislated by the federal government. By filing the FAFSA, a student is applying for federal, state, and institutional aid. Each FAFSA result is reviewed for completeness and accuracy. The University may request additional information from the family to confirm that the information reported on the FAFSA is correct. The FAFSA collects information about the student and student’s family including demographic information (name, address, citizenship status and residency status), the number in the family, the number in college, income, assets, etc. The form requests information from the prior-prior-tax year (for example: for September 2023 applicants, information from the families’ 2021 federal tax return will be required).
Federal Direct Subsidized and/or Unsubsidized Loans are offered as part of a financial aid package. Federal Direct Parent and/or Graduate PLUS Loans and/or student educational alternative loans may be recommended to help cover remaining costs including tuition, fees, books and supplies, and on campus room and board, if applicable. Students may request additional loan funds to finance educational expenses up to the cost of attendance, contingent upon federal guidelines and loan approval.
Changes in Financial Circumstances
Sometimes a family suffers a change of circumstances in their financial situation. A student or parent should inform the Office of Financial Aid if there is a change in the family income as a result of unemployment, retirement, lay-off, separation or divorce, or death of a wage-earner. The Office of Financial Aid will collect additional information and determine if the current financial information results in a change in eligibility.
Types of Aid
There are four basic types of financial aid available: grants, scholarships, loans and work-study. Funding sources include federal, state, college, and private sources. Our financial aid staff will develop a financial package that includes a combination of these funding sources tailored to the student’s particular situation based on the eligibility formulas. Grants and Scholarships are funds that do not have to be paid back. Scholarships are usually merit-based aid awarded to students who have a special characteristic, skill, talent or academic ability. Felician University Aid does not apply to programs that are already discounted. In some cases, financial need is also given consideration in awarding scholarships and/or grants.
Loans are borrowed funds that must be repaid with interest, usually after the completion of the college education or when a student drops below half-time status. Each loan program has different eligibility and application requirements. Felician University currently participates in the Federal Direct Loan Program, the Federal Direct PLUS Program and a variety of alternative loans from several lending institutions.
Jobs are available to students through the Federal Work Study or Felician University Student Employment programs. Students who are offered jobs can work on or off campus to earn money to help pay educational expenses. Additional information may be obtained from the Career Development Center.
Felician University participates in the Federal Title IV and State of New Jersey financial aid programs. Institutional sources of funding are also available.