Providence, Rhode Island
Financing Your Education
Resources Families Use to
Finance a PC Education
“At Providence,
1%
Federal Work Study
one of every three dollars…is spent
on financial aid...”
8%
Parent Borrowing
10%
Student Borrowing*
48%
Family Income and Savings
2%
2%
29%
“At Providence, one of every three dollars
in the operating budget, or nearly $50
million, is spent on financial aid, and
nearly three of every four students receive
some scholarship help. The average
direct scholarship based on need last
year was more than $17,500. (Students
who also qualified for merit-based aid,
which not all colleges offer, received
substantially more.)”
New York Times / April 29, 2010
Federal Grants
Outside Grants and
Scholarships
Providence College
Grants and Scholarships
*Student Borrowing reflects all sources
(need-based loans and alternative financing borrowed by the student)
You’re looking for a college with a national reputation for excellence.
You want your children to receive a transformative education. You want
them to belong to a community that shares their values, yet challenges
them through endless opportunities to learn, participate, and serve.
You want them to thrive—academically, personally, and spiritually—as
they grow into successful, well-rounded adults. But while you’re deeply
committed to investing in the college that fits them best, you have plenty
of questions. How can you come up with a financial plan that works best
for you? What kind of assistance can you expect from us? Here are some
of the answers you seek. We urge you to contact us for more information
on the many resources available to your family at Providence College.
“We recognize that meeting the costs of a college
education is a challenge for most students and
families, particularly in this economy. Providence
College has a long-standing commitment to
making a quality education more accessible to
students and their families, and it is our hope
that—in addition to the information presented
here—you will contact us to find out more about
our extensive, comprehensive financial aid
program. We eagerly look forward to helping
you create a financial plan uniquely suited for
your family’s needs and circumstances through
our various institutional merit- and need-based
scholarships and grants as well as federal loan,
grant and employment opportunities.”
Sandra J. Oliveira
Executive Director / Office of Financial Aid
Paying for Providence College
the Flaherty Family
the Bernazzani Family
“We were kind of naïve about how much college costs,”
recalls Linda Flaherty. “Emilee was an excellent student and
we’d assumed we’d be in a much better position in terms
of scholarships than we ended up being. So it was a sharp
learning curve for us.”
While passionate about helping their daughter, Michelle,
find the college that fit her best, Mark and Paula Bernazzani
also knew that, as a family, cost inevitably would be a
significant factor. And they also wanted Michelle to take some
responsibility for her own education. “I remember many long
discussions over our kitchen table,” says Mark. “Paula and I
would keep pointing to the amount of debt Michelle would
graduate with, so she was fully aware of the responsibilities
that accompanied the privilege of attending a college of
her choice. Once she chose Providence, which had offered
her approximately $13,900 in annual financial aid ($6,600
grant, $5,500 loan, $1,800 work study), we broke down the
cost, year-by-year, and began exploring the many different
options available. We knew what we needed was a lender who
would not only offer us the lowest rate of interest but also
accommodate a deferred payment schedule.
While Providence College offered an excellent program in
accounting—Emilee’s major of choice—Linda freely admits
Providence was not their family’s first choice. “But as soon as
we were on campus, I immediately felt this was the right fit for
Emilee…it had something to do with the sense of community
and the values everyone seemed to share. Of course, we
allowed her to make the final decision. Also, we don’t come
from money and we have a son who will be ready for college
in a few years, so the financial component was huge for us.
We felt it was our responsibility to ensure Emilee didn’t begin
life with a huge debt. At the same time, we wanted a college
that was the right fit for her. Luckily, she ended up receiving a
financial aid package of approximately $33,000 ($23,000 grant,
$7,500 loan, $2,500 work study) from Providence, and we
helped her take out an alternative student loan for the balance.
She’s responsible for half of that loan and we’ve refinanced our
home to pay for the other half. It’s definitely all been worth it
when I think of the amazing impact Providence has had on
her both as a student and as a person. Given the College’s track
record, I know that she will graduate to an excellent, wellpaying career and a well-rounded, meaningful life.”
“Providence offered our daughter a very generous
financial aid package. Most important of all, Providence
is absolutely giving her the education she deserves.”
Linda Flaherty / Mother of Emilee Flaherty ’12
“I think the key is to start planning early,” adds Mark. “Paula
and I wanted to pay for at least two years of college for
Michelle, so we refinanced our mortgage to a 15-year schedule
many years ago. Now, thanks to Providence College; a lowinterest, deferred-payment loan from the Rhode Island Student
Loan Authority (RISLA); and a very manageable, low-interest
home equity loan, we’ve been able to do just that.”
“The true measure of our investment is that Michelle
has been extremely happy with her Providence College
experience so far, and we’ve been very happy with the
quality of the education she’s received.”
Mark Bernazzani / Father of Michelle Bernazzani ’11
Providence College Need-Based and
Merit-Based Financial Assistance
How Providence College Awards Need-Based Aid
In determining aid packages for prospective undergraduate
day students (including transfer applicants), Providence
College distributes financial assistance consisting of
work, loan, grants, and scholarships based on a number
of factors, including federal policy, institutional policy,
and the availability of resources. Providence College
uses Federal Methodology (FM) required by the Higher
Education Act (1965), as amended, to determine a student’s
eligibility for all federal financial aid programs and, based
on the information provided on the Free Application for
Federal Student Aid (FAFSA), distributes federal financial
aid to eligible students. For institutional need-based aid,
the College’s Institutional Methodology (IM) uses the
information provided on the College Scholarship Service
(CSS) Profile application to provide a systematic, objective
measurement of a family’s financial situation to determine
the amount of aid truly needed.
Need-Based Grants
All institutional need-based grant monies are awarded to
undergraduate students on the basis of financial need. The
range of need-based grants provided to students in the Class
of 2017 was approximately $1,000 to $42,385.
For more information, visit:
www.providence.edu/financial-aid.
The Rev. Dr. Martin Luther King, Jr. and
Cunningham Scholarships
Based on demonstrated financial need, these scholarships are
specifically for multicultural students. Awards typically range
from one-half to full tuition.
How Providence College Awards Merit-Based Scholarships
As part of the review for admission to Providence College,
candidates with superior academic and leadership
credentials are referred to the Committee on Scholarships
for consideration for all merit awards. (No separate
application is required for any merit award.)
Providence College offers three types of merit scholarships
to qualified students:
Liberal Arts Honors Program Scholarships
Academic Scholarships
Friar Scholarships
Liberal Arts Honors Program Scholarships
Providence College’s Liberal Arts Honors Program is highly
selective, with approximately 10 percent of students in a
typical class invited upon admission. While admission to the
College employs a holistic review process that considers each
student’s academic record, extracurricular accomplishments,
and personal qualities, admission to the Honors Program
focuses specifically on the student’s academic credentials.
Students who are invited into the Honors Program typically
have completed their high school’s most rigorous program
of study and place at the top of their graduating class. These
students are awarded merit scholarships ranging from 40% to
100% of the cost of the year’s tuition.
Qualified students may renew their Honors Program
scholarships annually for up to four years. To be eligible for
renewal, a student must maintain the required GPA.
Exceptional first-year students may apply to the Director of
the Liberal Arts Honors Program for entry beginning in the
sophomore year. These students must have demonstrated
outstanding academic performance during their freshman
year. Although they may be invited into the Honors
Program, they will not be eligible for Liberal Arts Honors
Program Scholarships.
Academic Scholarships
Students who have demonstrated superior academic
performance throughout high school, but who have not
been invited into the Liberal Arts Honors Program, may
qualify for an Academic Scholarship. To be considered
for Academic Scholarships, students should complete a
rigorous program of study and have a cumulative academic
average of at least an A-.
Friar. Rather than focus on the number of activities in which
a student has participated, the Committee on Scholarships is
interested in the depth of the student’s involvement and the
seriousness of the student’s commitment.
Academic Scholarships are renewable annually up to four
years, provided that the recipient maintains the required GPA.
Additional Information
Students may receive only one type of merit-based
scholarship.
Students do not need to fill out a need-based scholarship
application to be considered for a merit-based scholarship.
Total tuition awards cannot exceed the full cost of annual
tuition; if another source of funding is designated for tuition,
a student’s merit award may be reduced.
Friar Scholarships
At Providence College, we also provide merit awards for
high school students who demonstrate an involvement in
extracurricular pursuits that goes beyond the norm. These
students exemplify what it means to be a Providence College
Friar Scholarships of up to $9,000 annually are awarded to
entering freshmen who demonstrate extraordinary leadership,
commitment, and responsibility in their extracurricular activities.
Federal Loans and Work Study
William D. Ford Federal Direct
Stafford Loan Program
Commonly referred to as the Direct
Stafford Loan Program, the U.S.
Department of Education has created
this program specifically for students
who are attending postsecondary
institutions. Providence College is
responsible for determining eligibility
based on the results of the FAFSA and
current federal regulations. In addition,
the College also collects and processes all
paperwork on the government’s behalf
for this program.
These loans are taken out in the student’s
name, and there is no credit check
required to qualify for this program.
Subsidized Direct Stafford Loans are
need-based and do not accrue interest
Alternative Financing Options
The calculation used to determine a
“family contribution” is designed to
measure a family’s ability to contribute
to educational expenses over a period
of time. For the majority of families,
most of the contribution is expected
from income. Savings and/or loans
assist families in managing the cost
over a period of time, particularly for
those families who have other financial
demands. After you’ve determined
what you can manage and assessed the
amount your family needs to finance
your student’s Providence College
education, there are several financing
options you can pursue, including:
Payment Plan. Providence College
contracts with Tuition Management
Systems (TMS) in order to offer a
monthly payment plan option for you
and your family. The plan offered by
TMS allows families to spread all, or a
portion, of a student’s balance due over
a full year. There is a nominal fee but
no interest charges for those families
who wish to enroll in this service. The
amount you wish to finance over the
10-month plan is up to you. Should you
be interested in this program or would
like additional information, please
contact the Bursar’s Office at
401-865-2284.
while the student is enrolled at least halftime. Interest will accrue for students
borrowing Unsubsidized Direct Stafford
Loans which can be paid on a quarterly
basis while the students are in school,
or they can opt to have the interest
capitalize (added to the principal) and
payable when they graduate or drop
below half-time.
Federal Perkins Loan
A Perkins Loan is awarded to
undergraduate students with exceptional
financial need. This is a campus-based
loan program, with the school acting as
the lender using a limited pool of funds
provided by the government. Essentially,
it is a subsidized loan with the interest
being paid by the federal government
while the student is in school. There are
Direct PLUS Loan. The Parent Loan
for Undergraduate Students (PLUS) is
a federal loan available to the student’s
parent. Loans are in the parent’s name
on behalf of the student and based on
the credit history of a parent. Parents
can begin repayment on the principal
and interest 60 days after the loan is fully
disbursed (i.e., approximately March of
the freshman year), or six months after
the dependent student graduates or
ceases to be enrolled on at least a halftime basis. Interest will accrue on this
loan while the student is in school, and it
is suggested that it be paid on a quarterly
basis to the lender who holds the loan.
There is usually an up-front processing
fee valued anywhere from 2% to 4%
of the total loan amount. Direct PLUS
loans are offered by the U.S. Department
of Education and administered by our
Student Loan Office. Providence College
requires all families who apply for a
Direct PLUS loan to complete a current
year FAFSA application, even if the
family is not interested in receiving other
federal student aid.
Alternative Student Loans. These are
education loans that a student borrows
after considering financial aid and family
financial support. While students are
the primary borrower for this type of
loan, a creditworthy cosigner—a parent
Important Borrowing Tips
no origination fees, and the interest rate
is fixed at 5%.
Consider spreading all or a portion
of your payments over time through
Tuition Management Systems (TMS).
Federal Work Study
Federal Work Study (FWS) is a unique
component available in the federal
student aid program that affords
students the opportunity to earn funds
throughout the academic year to support
some of their educational-related
expenses. It is important to remember
that FWS funds are not credited to the
student’s bill and being offered FWS
as part of their award package does
not guarantee a student a job. Students
are responsible for securing their own
employment and should be proactive
in their search. Please note, priority for
student employment is given to those
students who have been awarded FWS.
or guardian in most cases—is required.
Often, lenders will relieve cosigners of
their obligations once the student has
made a specified number of on-time
payments. While the principal amount
you borrow does not become due until
the student graduates or drops below
half-time, interest will accrue on this
loan while the student is in school, and
it is suggested payments be made on a
quarterly basis to the lender. Interest
rates change on a quarterly basis for
alternative student loans since they are
driven by the LIBOR or Prime rate.
Please note, Providence College does
not have a preferred lender list and
cannot legally recommend a lender to
you. Families are encouraged to utilize
the Internet to research and compare
different products. Furthermore, many
state lending agencies may offer loan
products at reduced rates to its residents.
Contact your home state lending
authority for more details.
Home Equity Loans. Home equity
loans are another attractive financing
opportunity because of the tax benefits
associated with the interest payments.
A federal student loan, such as the
subsidized or unsubsidized Stafford
Loan, is generally the best option for
students. Interest rates are lower than
parent or alternative options.
Consider applying for a federal Parent
Loan for Undergraduate Students
(PLUS), even if you believe you will
be denied, as these generally have
more flexible credit criteria than
private loans.
Borrow only what you think you will
need for the entire academic year (and
not per semester).
Every family’s needs are different.
When it comes to selecting a lender
and loan product, families need
to keep in mind that there is not a
one-size-fits-all option.
Research loan products each year
since other lenders may offer different
interest rates and/or incentives in
future years.
Apply for one loan at a time. A lender
runs your credit (at your request) each
time you apply—which means that the
more loans you apply for at the same
time, the lower your credit score. A
low credit score could impact your
ability to borrow.
Choose your lender carefully, check
for fees that may reduce a portion of
your loan that will be applied to direct
expenses, and remember to read the
fine print on each document you sign!
Ask the important questions of your
lender. What kind of up-front fees
do they charge, and what rebates do
they offer? What are your repayment
options? How much will you owe
if you’re in repayment only after
graduation? What are the estimated
The Cost of Attendance, also known as your “budget,” is an
itemization of total expenses a student would typically incur in a given
academic year at Providence College, including both direct expenses
that appear on your student billing statement and indirect expenses
that do not (e.g., books, personal expenses, etc.). When financing,
you are able to borrow up to your student’s “budget” minus any other
financial aid or resources you are receiving. If you decide to borrow up
to the full cost of education, you may borrow a little more than your
student’s direct charges and apply the remainder toward the other
costs he/she may incur throughout the academic year.
Alternative Financing Comparison Chart
Program
Loan Amount
Interest Rate
Monthly
Principal/Interest
Repayment Term
(Months)
Tms (Payment Plan)
$20,000
0%
$2,000.00
10
Parent Plus Loan
$20,000
6.41%*
$226.18
120
Alternative Loan
$20,000
10.25%**
$267.08
120
Home Equity Loan
$20,000
5.2%***
$106.25
180
*
**
***
This rate represents the 2013–2014 Direct PLUS Loan offered through the U.S. Department of Education.
This rate reflects Prime as of 9/5/13 (3.25) plus 7%. Your rate may vary due to credit history and lender you have selected.
This rate is only an example. Please contact your preferred lending institution for a current rate.
monthly payments? Do you want a
fixed or variable rate? If it’s variable,
how often can the rate change, and
is there an interest cap? Can you
consolidate loans later without
losing any incentives on the original
loan? Will your loan be sold to
another company?
Keep in mind that alternative loan
products have no limit on how high
their annual interest rate can go unless
the product you have chosen offers a
fixed interest rate.
Know what it means to cosign—
cosigning for a private loan and
borrowing a PLUS loan both impact
your credit report; both constitute
debt for which you are responsible.
Search for outside scholarship options
that can assist in reducing the amount
that you may need to finance and
borrow and which also will assist with
reducing long-term loan debt.
Case
Studies
in Financial Aid Packages
Every family’s financial situation is
different, yet there are similarities in how
various families approach financing their
students’ Providence College education. The
following examples illustrate how needbased financial aid and payment options
work together. These case studies consider
several variables used to determine a
family’s college contribution and financial
need, including: income, annual taxes,
assets, household size, and number of
children in college.
Even though your family situation may
resemble one of these case studies,
it’s important to note that Providence
College cannot guarantee that your
student will be offered a similar aid
package. These case studies are examples
only. Please note that Providence College
may not be able to meet every student’s
demonstrated need in full.
In determining total financial need,
please keep in mind the following
formula:
Cost of Attendance
– Expected Family Contribution
_________________________
= Financial Need
For the examples below, we assume that
the total Cost of Attendance = $57,800.
The total Cost of Attendance includes all
direct (e.g., tuition, room and board, fees, etc.)
and indirect expenses (e.g., books, supplies,
travel to and from home, etc.) that a student
could expect to incur for the 2013–2014
academic year.
Case Study 1: Rachel
Case Study 2: John
Case Study 3: Chris
Case Study 4: Kathleen
Rachel lives in New York with her parents and three younger
siblings (ages 12, 14, and 16). Her parents’ total income is
$218,102. The family has $126,000 in home equity and $6,000 in
savings. Providence College calculated that Rachel’s parents could
contribute $49,070 toward her education for the current year.
John lives in Massachusetts with his parents and three sisters.
John’s older sister also attends college. His parents’ combined
income is $205,500. They own a home with $422,000 in equity
and have savings of $30,000. Providence College expects John’s
parents to contribute $31,035 and John to contribute $2,300 from
his own savings and summer earnings. The total family contribution
for the academic year is $33,435.
Chris lives with his parents and three siblings in Maine. His parents’
combined earnings total is $91,235. They own a home with $125,500
in equity and have $300 in savings. Chris’s brother is also enrolled
in a four-year college. Providence College expects Chris’s parents
to contribute $8,350 and Chris to contribute $1,330 from his
summer earnings.
Kathleen’s father is deceased, and her mother earns a modest income
to help support a family of four children in Rhode Island. To help
manage costs, Kathleen has decided to commute. The family’s total
income, including Social Security benefits for the younger children,
amounts to $39,500. Kathleen’s mother has $60,000 in savings and
investments. Providence College calculated a parent contribution of
$60 and expects $2,000 from Kathleen’s summer earnings.
Rachel’s financial need is determined as follows:
Educational Expense Budget/Resident
$57,800
Less family contribution
- 49,070
Financial need
$8,730
Rachel’s need-based financial aid package includes:
Chris’s financial need is determined as follows:
John’s financial need is determined as follows:
Educational Expense Budget/Resident
$57,800
Less family contribution
- 33,435
Financial need
$24,365
$5,230
Subsidized Stafford Loan
$3,500
Providence College Grant
Total aid package
$8,730
Perkins Loan
$2,000
Subsidized Stafford Loan
$3,500
Work-Study Job1
$1,800
Total aid package
$23,140
Since the $2,000 Stafford Loan will accrue 3.86% interest while
Rachel is in school, the family is advised to make quarterly interest
payments ($6.43/month). Rachel’s parents also intend to borrow
$43,000 in a Federal PLUS Loan to finance their contribution. Their
PLUS Loan payments will be $464.75/month. The total monthly
payment for both loans (the PLUS Loan payment and the
unsubsidized Stafford Loan interest payment) is $471.18.
Next year, Rachel’s sister will enter college. Assuming that the
family’s income remains the same, their contribution for Rachel’s
education will be approximately 50% lower, and she will be eligible
for additional need-based grant funds for her sophomore year.
$57,800
Less family contribution
Financial need
- 9,680
$48,120
Chris’s need-based financial aid package includes:
John’s need-based financial aid package includes:
Providence College Grant
In addition to a Providence College Grant, Rachel is eligible to
receive a $2,000 unsubsidized Stafford Loan for her first year. This
loan is unsubsidized because the Providence College Grant and
unsubsidized Stafford meets Rachel’s financial need in full. The
loan will assist the family with their share of the contribution toward
educational expenses.
Educational Expense Budget/Resident
$15,840
John received a need-based award of $15,840, a Perkins Loan of
$2,000, and the maximum subsidized Stafford Loan of $3,500. In
addition to his aid package, he is eligible for an unsubsidized Stafford
Loan in the amount of $2,000 for his first year. John’s loan will assist
the family with their share of the contribution toward his educational
expenses. Because the unsubsidized portion of John’s Stafford Loan
will accrue 3.86% interest while John is in school, the family is
advised to make quarterly interest payments ($6.43/month). John will
also earn $1,800 in a work study award on campus.
John’s parents have almost paid off their entire home mortgage, so
they have decided to take a home equity loan. This home equity
loan will help them manage the balance remaining to cover the
combined educational expenses for both John and his sister, an
amount in excess of $60,000. Their decision is partly based on the
fact that the interest rate on a Federal PLUS Loan is 6.41%, while
interest rates on home equity loans or refinanced mortgages can be
several percentage points lower.
Providence College Grant
$26,380
Work-Study Job
$1,800
Perkins Loan
$2,000
Subsidized Stafford Loan
$3,500
Total aid package
Outside Scholarship
Total aid package
$33,680
$3,000
$36,680
On top of his financial aid package, Chris is eligible to receive an
unsubsidized Stafford Loan in the amount of $2,000 for his first
year. This portion of the loan is unsubsidized since his financial aid
package already includes the maximum subsidized Stafford Loan
of $3,500. This loan will assist the family with their share of the
contribution toward educational expenses. Since interest will accrue
at 3.86% on the unsubsidized portion of the loan while Chris is in
school, the family is advised to make quarterly interest payments
($6.43/month).
Chris has a work-study job that will provide him with $1,800 of
income during the school year and a Perkins Loan of $2,000. He
has also been awarded a $3,000 outside scholarship. Since his
financial need was not met in full, he will be able to apply this
outside scholarship to his unmet need.
Chris and his parents will need to finance the parent contribution
of $9,680 and his remaining unmet need, which is $11,440
($48,120 financial need minus $36,680 in total paid). To assist
the family in paying the remaining balance of $21,120, Chris’s
parents are combining two payment options. Through the Tuition
Management Systems (TMS), they have budgeted $2,500 over
10 months, with a monthly payment of $250. They will borrow the
remaining $18,620 from the Federal PLUS Loan Program, with
monthly payments of $210.57 a month. Chris and his parents will
pay $467 for 10 months and $217 for the remaining two months to
cover his first-year expenses.
Kathleen’s financial need is determined as follows:
Educational Expense Budget/Commuter
Less family contribution
Financial need
$50,040
- 2,060
$47,980
Kathleen’s need-based financial aid package includes:
Providence College Grant
$16,691
Federal Pell Grant
$5,595
Federal Supplemental Educational
Opportunity Grant
$4,000
Work-Study Job
$1,800
Perkins Loan
$2,000
Subsidized Stafford Loan
$3,500
Total aid package
$33,586
In addition to a $16,691 grant from Providence College, Kathleen
has received two federal grants totaling $9,595, a Perkins Loan
of $2,000 and a subsidized Stafford Loan of $3,500. She will earn
$1,800 in a work-study job on campus.
Kathleen is also eligible to receive an unsubsidized Stafford Loan
in the amount of $2,000 for her first year. This portion of the loan is
unsubsidized because her financial aid package already includes the
maximum subsidized Stafford Loan of $3,500. Since her financial
need is not met in full, she would be able to apply an outside
scholarship to the unmet need.
Interest on the unsubsidized Stafford Loan will accrue at 3.86%
while Kathleen is in school. Kathleen’s mother is advised to make
quarterly interest payments ($6.43/month).
The balance due to educational expenses will be paid out of student
earnings and parent assets.
Remember these
Dates
October_________________________________________________
Oct. 1 CSS PROFILE available for completion
November_______________________________________________
Nov. 1 Early Action admission application deadline
December_______________________________________________
Dec. 1 Early Action and Early Decision CSS PROFILE deadline
Early Decision admission application deadline
Dec. 15
Early Action and Early Decision business tax return
information due to the Office of Financial Aid
January_________________________________________________
Jan. 1 Free Application for Federal Student Aid (FAFSA)
is now available for completion
Early January____________________________________________
Early Decision admission decision letters released
(all merit-based and need-based awards included)
Early Action admission decision letters released
(all merit-based awards included)
Jan. 15
Regular Decision admission application deadline
Late January____________________________________________
Early Action need-based financial assistance released
February________________________________________________
Feb. 1 Early Action, Early Decision & Regular Decision
FAFSA deadline
Feb. 1
Regular Decision CSS PROFILE deadline
Feb. 15
Regular Decision business tax information deadline
to the Office of Financial Aid
Enrollment deposit deadline for Early Decision applicants
March__________________________________________________
MidRegular Decision admission decision letters, merit
March
awards and need-based financial aid awards released
April____________________________________________________
April 15 Returning student FAFSA due
Returning student CSS PROFILE due
May_____________________________________________________
May 1 Enrollment deposit deadline for Early Action and Regular
Decision applicants
June____________________________________________________
June 1 First payment due if participating in the TMS
payment plan
July_____________________________________________________
July 1 Direct PLUS applications are now accepted
for processing
July 15
Fall semester bills emailed
August__________________________________________________
Aug. 15 Fall semester bills due
At a
Glance 2017: Annual Costs
Direct Expenses
Tuition (Class of 2017)....................................................$42,385
Room and Board*............................................................$12,750
Fees**......................................................................................$860
(Activity Fee $330, Technology Fee $400, Laundry Fee $130)
Total Resident Cost: Billed Cost....................................$55,995
Indirect Expenses
Books and Supplies...............................................................$900
Other Expenses.....................................................................$909
Total Indirect Expenses.....................................................$1,809
* Amount reflects standard room and 19 meals. Returning students may choose
a different living option and board plan. For a specific breakdown of associated
expenses, visit our website: www.providence.edu/Financial-aid.
** Lab fees, business school fees, music fees will apply on an individual basis.
Class of 2017:
Financial Aid
Total Providence College Financial Assistance...$18.9 million
Average Need-Based Financial Aid Package ................$27,160
Average Need-Based Grant.............................................$19,200
(including MLK/Cunningham)
Average Merit-Based Scholarship..................................$17,720
% of Class with PC Need-Based Grant................................56%
% of Class with PC Merit-Based Scholarship.....................32%
% of Class with PC Need-Based Grant
and/or Merit-Based Awards.............................................75%
Providence College admits students of any race, color, national and ethnic
origin, sex, gender, sexual orientation, gender identity, religion, disability,
age, or veteran status, and without regard to genetic information, to all
the rights, privileges, programs, and activities generally accorded or made
available to students at the College. It does not discriminate on the basis of
race, color, national and ethnic origin, sex, gender, sexual orientation, gender
identity, religion, disability, age, veteran status, or genetic information, in
the admin­istration of its education policies, admission policies, scholarship
and loan programs, athletic and other College-administered programs, and
employment policies. In accordance with Title IX, it does not discrim­inate
on the basis of sex in its educational programs or activities. Nothing in this
notice shall require Providence College to act in a manner contrary to its
Dominican mission and the teaching and tenets of the Catholic Church, and
the College reserves the right to take actions designed to ensure and promote
its Catholic and Dominican mission.
Office of Financial Aid
Harkins Hall
1 Cunningham Square
Providence, Rhode Island 02918
P: 401-865-2286
F: 401-865-1186
[email protected]
www.providence.edu/financial-aid