Q: How do I apply for financial aid?
A. File the Free Application for Federal Student Aid (FAFSA) and list Rivier University with our title IV code (002586) on the form. The FAFSA is available at high schools and colleges or at www.fafsa.ed.gov. For your convenience, Rivier University also offers an electronic financial aid office, with forms and helpful information, available at www.rivier.edu.
Q: When should I apply for aid?
A. Families are encouraged to file as soon as possible after January 1. To receive priority consideration for financial aid, applicants should complete a FAFSA no later than March 1. All students who mail their FAFSA to the federal processor by the priority date are given full consideration for assistance by Rivier University. Late applications are accepted and considered on a funds-available basis.
Q: What happens after I file the FAFSA?
A. Within a couple of days after you file the FAFSA, you will receive a Student Aid Report (SAR) at the email address you provided to the Department of Education. You will be asked to review the information in the SAR for accuracy and to make any corrections necessary with the federal processor. The report shows the Expected Family Contribution, an important figure based on the federal formula, that helps us determine your financial need. The Office of Financial Aid at Rivier University receives an Institutional Student Aid Record electronically from the federal government.
Q: What are the most important factors in determining the Expected Family Contribution?
A. The Expected Family Contribution is based on a number of factors including family size, income, assets, and number of family members in college.
Q: How is financial need determined?
A. To determine your financial need, the Financial Aid Office looks at the FAFSA and calculates the cost of attendance at Rivier University minus your expected family contribution. The difference is your financial need.
Q: When will I receive notification about my financial aid award?
A. We mail award notification letters on a rolling basis to accepted students with complete financial aid applications, beginning March 1.
Q: How do I accept my award?
A. To accept your financial aid award, you can either sign and return one of the copies that was sent to you in the mail or log into your Net Partner account with the information provided in the letter and accept the aid online.
Q: Will I receive the same financial aid package each year?
A: Not necessarily. Because family circumstances change, you will need to file a Renewal FAFSA each year you are enrolled in college. Your Expected Family Contribution and your financial aid award may change each year as a result of fluctuations in income, assets, and number of children in college. Students taking advantage of the Stafford Loan program will generally find that their loan-to-grant ratio is likely to increase with each grade level, since annual award limits set by the federal government increase each year. All students are strongly encouraged to file the Renewal FAFSA prior to March 1 each year, to be given full consideration for assistance.
Q: I am transferring to Rivier University. When and how do I apply for aid?
A: Transfer students should file a FAFSA as soon as possible after January 1. In addition to all other aid to which they are entitled, transfer students with a GPA of 2.5 or higher and with at least 12 earned credits are also eligible for a Transfer Scholarship.
Q: Is aid available to international students?
A: Yes. Rivier University offers the Legacy Scholarship to full-time day international students. In addition to the scholarship, there are a number of alternative loan programs for which international students can apply. Contact our Financial Aid Office for more information.
Q: I received a scholarship from an outside source. How will this affect my financial aid award at Rivier?
A: The Financial Aid Office needs to be made aware of any outside resources a student is receiving. Make sure to submit a copy of the scholarship letter to the Financial Aid Office. Most of the time, outside resources will not affect grant or scholarship aid that the student is receiving.
Q: When will I be billed?
A: You will be billed twice a year, in July and in November. With the exception of work study, all financial aid will appear as a credit on your bill, as long as you have accepted your award package.
Q: Where can I learn more about the tax benefits of paying for college?
A: Students and their families can take advantage of several tax benefits that help reduce college expenses. These benefits include the Hope Scholarship Tax Credit, the Lifetime Learning Tax Credit, the tuition and fees deduction, penalty-free withdrawals from IRAs, and tax deductions for student loan interest. In addition, the Coverdell Education Savings Account offers tax benefits to some families. For more information, check with a tax accountant or visit the IRS website at www.irs.gov.