Frequently Asked Aid Questions

The Free Application for Federal Student Aid (FAFSA) is used to determine your eligibility for financial aid. Salve Regina considers eligible students with a completed FAFSA for all possible funding sources, including federal, state and college programs. Please keep in mind that Salve Regina gives maximum consideration for all available funds to students who meet the March 1 priority financial aid application deadline. Late applicants may receive reduced funding.

You can create an FSA ID when logging in to certain federal student aid websites or by visiting studentaid.gov .

The FSA ID process consists of three main steps: 

1. Enter your login information.
   Provide your email address, a unique username and password and verify that 
   you are at least 13 years old.
2. Enter your personal information. 
   Provide your Social Security number, name and date of birth. 
   Include your mailing address, telephone number and language preference. 
   For security purposes, provide answers to five challenge questions.
3. Submit your FSA ID information. 
   Agree to the terms and conditions. 
   Verify your email address. (This is optional, but helpful.) 
   By verifying your email address, you can use it as your username when logging into certain federal student aid websites. 

Do not share your FSA ID with anyone. The security of your FSA ID is important because it can be used to electronically sign federal student aid documents, access your personal records and make binding legal obligations. 

You can use your new FSA ID immediately to complete, sign and submit a new Free Application for Federal Student Aid (FAFSA). 

If you linked a PIN when you created your FSA ID, your Social Security Administration (SSA) confirmation was carried forward to your FSA ID and you will be able to use it for all tasks right away. 

If you did not link a PIN when you created your FSA ID, your FSA ID information will be confirmed with SSA. This takes 1-3 days, and you will receive an email when this is complete. Once SSA confirms your information, you will be able to use your FSA ID for all FAFSA tasks along with other federal student aid aspects through studentaid.gov. 

To start a renewal FAFSA or make corrections to an existing FAFSA, including adding a school or accessing the IRS data retrieval tool, your information (name, Social Security number and date of birth) will need to be confirmed with the Social Security Administration (SSA). 

Instead of students and families entering their financial information manually, all contributors on the student's FAFSA application must consent to the IRS direct data exchange (DDX), which allows their data to be directly transferred to the FAFSA. There is no opt-out for this requirement. If a contributor does not consent, the student will not be eligible for financial aid.

If your FAFSA is selected for verification, our office will contact you via email and outline the documents required to complete the verification process.

Not necessarily. Each year, the U.S. Department of Education selects a certain percentage of FAFSA applicants for verification. This is not an indication that there is anything wrong with your FAFSA application.
 

Documentation requirements may be different for each student. We will only request documents necessary to complete verification.

You may be asked for forms and documentation to confirm income and tax return information, household size and number of students in your family that are in college, and/or to confirm your identity and statement of educational purpose.

Please complete any requirements as soon as possible to expedite the finalizing of your financial aid offer.

For incoming first-year students, documentation requests will be communicated by email and listed in My Salve. 

For returning undergraduate students and graduate students, documentation requests will be communicated by email.

Links to many of the documents requested can be found on our Online Forms and Resources webpage. All other documents should be submitted using our secure document upload.

If your financial circumstances have changed, please complete the verification process first and then contact your financial aid counselor to discuss any extenuating circumstances.

We offer academic scholarships based on merit, which are awarded at the time of acceptance and are based on specific criteria. They are guaranteed for four years as long as you maintain the required criteria from one year to the next.

Grants are need-based awards that require the annual completion of all necessary documentation as outlined on this website. Grants are subject to change from one year to the next if your family's need changes.

Federal Direct Student Loans: These loans are federally guaranteed as long as you are enrolled at least half time during normal enrollment periods. Repayment is deferred until six months after you leave school. Need-based direct loans are subsidized, which means the government pays the interest while you are enrolled at least half time. If you do not qualify for a need-based federal loan, unsubsidized direct loans are available. Loan limits are $3,500 for first-year students, $4,500 for sophomores and $5,500 for juniors and seniors. In addition, you are allowed an additional $2,000 unsubsidized direct loan annually.

Federal Nursing Loans: These loans generally have the best terms of all loans offered in your Salve Regina financial aid package. Nursing loans are available only to students enrolled full-time in the nursing program. The federal government subsidizes the interest until repayment, and repayment of these loans is deferred until nine months after you leave school, drop below half time or discontinue nursing studies. If you accept, you are required to complete a master promissory note, loan offer and entrance counseling.

Alternative Loans: These private loans may be used to supplement financial aid. In most cases, the student is the borrower and a co-borrower is required. Interest rates may be variable or fixed, and each company offers different repayment options. For these reasons, alternative loans should be looked at closely when considering the best option for financing.

Subsidized loans accrue no interest while the student is enrolled more than half time. Unsubsidized loans will accrue interest while the student is attending school.

To see current federal interest rates and fees, visit studentaid.gov.

Most loans will require the current school to complete specific paperwork in order to have payment on loans deferred. Usually the registrar will verify enrollment and complete any necessary forms.

You must maintain the required cumulative GPA and remain enrolled full time in an undergraduate program. At the time of acceptance, you are required to sign an agreement that sets forth guidelines for accepting the award. The cumulative GPA is evaluated at the end of each academic year. If you fall below the required cumulative GPA, a one-time extension will be granted. After the probationary semester, if you are still not maintaining the criteria, you will lose your eligibility for the academic scholarship.

Students awarded federal work-study are responsible to apply for and secure a position. The Office of Financial Aid sends information to students on steps for the application process before the start of the fall semester. Student employment is not guaranteed. For more information, contact the Office of Financial Aid at (401) 341-2901 or financial_aid@salve.edu.

Salve Regina assumes you would like all the aid offered and does not require a formal acceptance of your offer. If you complete the required documents and otherwise maintain eligibility for financial aid, you will receive what was offered.

Simply complete a financial aid award change form, which is available on the financial aid webpage.

If there are extenuating circumstances in your family’s financial situation, you may reach out to your financial aid counselor to see if changes can be made with documentation to support these changes. Examples of extenuating circumstances are: loss of income, change in marital status, illness, etc.

Yes. There is no penalty to prepay federal student loans. Students may also choose to pay interest on their student loans while they are enrolled. Students may work with their loan servicer. Upon disbursement of the loan, student loan servicer information is mailed to the student home address or emailed, depending on what the student designates on their master promissory note. This information may also be found on studentaid.gov.

No. When you complete your admissions application and are accepted, if you receive a merit scholarship, the amount is set for four consecutive years and cannot be increased. Students should monitor the Salve Regina website for additional scholarships that become available throughout the year.

If a non-custodial parent is looking for FAFSA or award-specific information, the custodial parent must provide the Office of Financial Aid with written confirmation of permission to speak with the non-custodial parent. If the non-custodial parent is looking for information not related to financial aid, the Office of Financial Aid will use FERPA guidelines.

You are required to renew your financial aid application every year. Your need is determined for one year at a time and is, therefore, subject to change from one year to the next. We strive to maintain the same award from year to year. However, there are certain factors that can cause a significant change to a financial aid award. These include change in marital status, moving off campus, studying abroad, significant changes in family circumstances and not making satisfactory academic progress.

Outside scholarships are considered a benefit and we do not reduce scholarships or grants, unless required by law. There are times when we may need to reduce federal need-based loans or federal work-study if an outside scholarship exceeds your need for financial aid. Other types of benefits, such as an employer's tuition benefits, are considered a resource. These resources are included prior to calculating need-based aid.

Yes. Students must inform the Office of Financial Aid if they receive outside scholarships.

Families who experience a significant change in income, marital status, loss of job or encounter special circumstances from one year to the next are encouraged to contact their financial aid counselor regarding the specific changes. In some cases there are ways that we can assist families who experience financial setbacks or other special circumstances.

Students who study abroad are eligible to keep most of their financial aid. Because students who study abroad no longer pay Salve Regina for the cost of room and board, the amount of aid they receive will decrease. The average decrease in aid per semester is $1,750. Students should schedule an appointment with their financial aid counselor for more detailed information.

If you move off campus, there will be a change in your financial aid offer. Periodically, we research the cost of living off campus to ensure that the budget is appropriate. Average off-campus living allowance is approximately $3,500 per year less than on-campus expenses, which is reflected in the off-campus budget.

If all other financial information remains approximately the same, financial aid will be decreased $3,500 for the academic year.