Financial Aid


Regular Office Hours:

Monday - Friday: 8:30 a.m. - 5:00 p.m.
Alverno on the Weekend (Saturday) -
11:00 a.m. - 1:00 p.m.

Special evening hours at beginning of Fall and Spring semesters.

Phone: 414-382-6046
E-mail: financial.aid@alverno.edu

Alverno College’s dedicated financial aid staff work very closely with each student. They are committed to helping students make their higher education affordable. 100% of Alverno’s full-time undergraduate students who filed the FAFSA and demonstrated need for assistance received an average of $15,269 from the college’s $37 million-plus financial aid program in 2010-2011.

Information is available by clicking on the links below.

  1. Financial Aid Overview
  2. Applying for Financial Aid
  3. Competitive Alverno Scholarships:
  4. Other Scholarships
  5. OTHER Scholarships - applications available in Financial Aid
  6. Current National Scholarships
  7. Scholarship Application Assistance
  8. Grants
  9. Loans
  10. Financial Aid for Graduate, Teacher Licensure and Second Bachelor Degree Students
  11. Financial Aid for Summer Session
  12. Jobs on Campus
  13. Satisfactory Academic Progress
  14. Important dates-Refunds/Withdrawals from classes
  15. Links to Helpful Financial Aid Web Sites

Financial Aid Overview

Financial assistance is available in the form of scholarships, grants, loans and work on campus. Financial assistance can be obtained by following the steps outlined in the process below. All students who meet certain criteria outlined by the United States Department of Education (DOE) are eligible for some form of financial assistance.

For additional questions about the financial aid application process or eligibility criteria not covered here, call the Financial Aid Office at 414-382-6046, toll free at 800-933-3401 or e-mail Financial Aid.

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Applying for Financial Aid

NOTE to Alverno Students:  It is time to apply for your financial aid for the 2011-2012 academic year!  Prepare to file your 2011-2012 FAFSA on the Web (FOTW) by printing and completing the 2011-2012 FOTW worksheet. The questions appear in the same order as the questions on the 2011-2012 FAFSA on the Web.  Complete the worksheet based on information from your paycheck records, end-of-January W2s, and last year’s tax documents.  Once the worksheet is completed, follow the steps listed below to file your FAFSA and your 2011-2012 Financial Aid Annual Form for the upcoming 2011-2012 academic year.  Do not take the chance of losing out on financial aid by waiting until you file your tax forms in April.  Estimate, Don’t Be Late!

The following steps will make it easy for you to complete the financial aid process. (Current students can track their progress in completing financial aid through Alverno's Interactive Online (IOL). On the Menu, "Communications - My Documents" will allow you to see which documents the Financial Aid Office has received and which documents are still needed.)

1. Apply online for a Federal Personal Identification Number (PIN number) at www.pin.ed.gov. This PIN will allow you to electronically sign federal documents, loan applications, etc. Dependent students and their parents should acquire a PIN number to make these processes easier.

Dependent vs. Independent Student Definition

Federal regulations require that all students who answer "NO" to all of the following statements are considered dependent students:

  • I will be 24 years old by January 1st of the school year I am applying for
  • I am married at the time of completing the Free Application for Federal Student Aid (FAFSA)
  • I am a veteran of the U.S. Armed Forces
  • I will be in a graduate degree program
  • I have children or dependents for whom I provide more than half of their support
  • I am an orphan or ward of the court
  • I am homeless and can document this by one of the following: the McKinney-Vento Act school district liaison; U.S. Dept. of HUD; or Runaway & Homeless Youth Act program director.

2. Complete the FAFSA (Free Application for Federal Student Aid) form online at www.fafsa.ed.gov. Use Alverno's Federal Code (003832) in Step 6 to assure that the results are sent to our Financial Aid Office.

The priority deadline for submission of all financial aid documents is March 15. After that date, the FAFSA should be completed as soon as possible.

3. Complete the 2011-2012 Financial Aid Annual Form available from the Admissions and the Financial Aid Offices, or print out the following form: 2011-2012 Financial Aid Annual Form (pdf).

4. Review the Student Aid Report (SAR) that you will receive two to five days after submitting the FAFSA. Contact the Financial Aid Office if you find errors. Alverno College will receive an Institutional Student Information Record (ISIR) after you file a FAFSA. An
ISIR is the same as a SAR.

5. Respond to any follow-up requests for additional information from the Financial Aid Office. Students may be asked to submit copies of federal tax returns used in completing the FAFSA, a verification form or other supporting information/documentation. Verification forms can be printed out from below.

Dependent Verification Form 2011-2012

Independent Verification Form 2011-2012

6.Continuing students are notified by e-mail and postcard that their award is ready to view on IOL beginning in March. New students are sent an award packet upon acceptance. Additional information regarding the award letter for continuing students can be found by reviewing the Financial Aid Handbook: Financial Aid Handbook. (pdf).

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Competitive Alverno Scholarships

Scholarships, like grants, do not require repayment. They may require a student to maintain satisfactory academic progress.

Scholarship Applications Available to Those who will be Full-Time Weekday Students in 2011-2012

Eleanor Roosevelt Community Service Scholarship

This scholarship is a four-year, full-tuition scholarship awarded to a first-year student who has demonstrated excellence in academics and commitment to community service. The application deadline is March 15, 2011 (not available to Alverno on the Weekend students). Information and application

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Other Scholarships

Alverno Scholars of Wisconsin logoAlverno Scholars of Wisconsin (ASW) Scholarship

The ASW scholarship is a four-year scholarship to be used at Alverno College. The Alverno Scholars of Wisconsin program is a unique academic scholarship awarded to one graduating high school senior woman from each county in Wisconsin. The application deadline is March 15, 2011. (This scholarship is not available to Alverno on the Weekend students.)
ASW Application
ASW Recommendation Form

Alverno College Academic Scholarships for Weekday Students

For recent high school students The Alverno Academic Scholarship recognizes students for their academic ability. These scholarships are automatically offered to qualified incoming first-time freshmen upon acceptance to the college. High school grade-point average and ACT/SAT score are considered in the awarding process. Awards range from $18,600 to $37,400 ($4,650 to $9,350 per year).

For Weekday undergraduate transfer and nontraditional students

Transfer students and nontraditional students are recognized for their academic ability. Upon acceptance to the college, these scholarships are automatically offered to students who qualify. Awards range from $16,800 to $25,600 ($4,200 to $6,400 per year).

Alumnae Referral Scholarship

Incoming first time freshmen, transfer and non-traditional aged undergraduate students can be nominated for this scholarship by Alverno College Alumnae. The Alumnae Referral Scholarship is $500 per year, renewable for four years. It is not need-based and is over and above any merit scholarship. The referral must be on file by June 15 for the upcoming fall semester; December 15 for the upcoming spring semester. The Referral Form is available from the offices of Admissions or Alumnae. It is also available at this link: Alumnae Referral Scholarship Referral Form

(This scholarship is not available for graduate students, Alverno grads seeking a second degree, post-baccalaureate licensure students, students who are classified as re-admits or re-entry students.)

Army ROTC Scholarships

Army ROTC could cover as much as full tuition for four years, in addition to allowances for living expenses and books & fees. For more information check these links to Assistance for An Alverno Education and National ROTC Scholarship Information.

OTHER Scholarships - Applications Available in Financial Aid Office!

The Alverno College Financial Aid Office offers various scholarships that students can apply for throughout the year. A current listing of these scholarships can be viewed at OTHER Scholarships. Students are encouraged to pick up an application in the Financial Aid Office and apply!

Nurses Foundation of Racine, Inc. - Deadline: Postmarked by February 28, 2011

American Association of University Women - Deadline: Received no later than March 1, 2011

Her Scholarship – Deadline: Submit to the Financial Aid Office (LA225) by Monday, March 7, 2011

Glendale Woman’s Club Scholarship – Deadline: Submit to the Financial Aid Office (LA225) by Friday, March 11, 2011

WHSF/Mexican Fiesta - Deadline: Submitted/postmarked by March 31, 2011

Current National Scholarships

The following section provides a list of current, national scholarships available to Alverno students. Selecting Current National Scholarships will take you to a separate page with the listing - live links to online applications are included when available.

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Scholarship Application Assistance

Alverno College Financial Aid offers additional assistance for students interested in applying for scholarships, making it simple to apply for free money!  Scholarship Advocate, Marissa Vinas, is available to assist Alverno students with any questions they may have when applying for scholarships.

Additionally, scholarship listings will be available in several locations: the scholarship bulletin board outside the Financial Aid Office in LA 225, Alverno's Campus NewsNet, and online! From our online links, students are able to access scholarship Web pages and applications - making it easier than ever for students to apply for scholarships!

Do you have questions or concerns regarding the scholarship application process?

Contact Alverno's Scholarship Advocate:

Marissa Vinas
Alverno College Financial Aid Office
Student Scholarship Advocate
Financial.Aid@alverno.edu

To Schedule an Appointment:
Call: (414) 382-6046

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Grants

Grants may be offered to students who demonstrate financial need according to the federal need-analysis formula determined by filing the FAFSA. Grants are considered gift aid and do not require repayment.

Alverno College Grant
In 2010, Alverno awarded $2.1 million dollars in grant money to students based on financial aid need.

Federal and State Grant Programs
To be eligible for most grants, students must be enrolled at least half-time. Government funding varies from year to year affecting the amount available to students. The major government-sponsored grant programs are:

Federal Pell Grant
Pell Grant amounts currently range from $400 to $5,500 per year.

Federal Supplemental Educational Opportunity Grant (SEOG)
SEOG’s are awarded to Pell Grant-eligible students. The amount varies yearly.

Wisconsin Tuition Grant
This grant is for Wisconsin residents attending independent Wisconsin colleges and universities. The maximum award is $2,900 per year.

Talent Incentive Program Grant (TIP)
TIP is a jointly sponsored federal and state program for first-year students who meet certain eligibility requirements; maximum award is $1,800 per year.

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Loans

Federal Direct Loans
Federal Direct Loans are low-interest loans with a fixed 3.4% or 6.8% rate for most borrowers. Some loans are not charged interest while the student is enrolled. Repayment begins six months after the student leaves school or graduates.

  • Federal Subsidized Direct Loans are based on financial need. Interest does not accrue during periods of enrollment and grace periods.
  • Federal Unsubsidized Direct Loans do not require financial need. Interest accrues during periods of enrollment and may be pre-paid with no penalty.

Federal Direct Loans are offered each year in your award letter. To complete the loan application process, the following steps are required:

1. If you are a first-time borrower at Alverno College, you must complete Entrance Counseling which is required by federal law. This one-time exercise consists of reading through material and answering questions regarding the material you have read. You
can complete Entrance Counseling online at www.studentloans.gov.

2. If you are a first-time borrower at Alverno College, you must complete the Direct Loan Master Promissory Note (EMPN). The EMPN is effective for up to 10 years. A new EMPN may be needed if you have had loans go into repayment or other non-enrolled periods of time. A PIN (Personal Identification Number) is required to sign the application. The PIN is the same one used to sign the online version of the FAFSA. The Direct Loan Master Promissory Note is available online at http://www.studentloans.gov.

All borrowers who take a leave of absence, withdraw or graduate from Alverno College must complete an Exit Interview. Exit Interviews may be complete online at www.studentloans.gov.

The National Student Loan Data System (NSLDS) is a good place to view all Federal loans that you have received. To view this Web site, you will need to have a Personal Identification Number (PIN number) as described in the Part 1 of Applying for Financial
Aid. To view your information online, visit NSLDS.

Federal Direct Plus Loan
The Direct PLUS Loan is a federally guaranteed loan program for parents to help pay for their daughter's educational expenses. Repayment begins 60 days after the last disbursement; the interest rate is fixed at 7.9% and has a 4% origination fee. Parents may complete the PLUS MPN online. Parents may also sign the promissory note electronically with a PIN number. To obtain a PIN, apply at www.pin.ed.gov.

How to apply for a Federal Direct PLUS Loan

Parents:

1. Complete the Federal Direct PLUS Loan Request and submit it to the Financial Aid Office.

AND

2. Parent borrowers for the Dependent Student on whose behalf the PLUS Loan is borrowed must complete a Federal Direct Loan Master Promissory Note.  Parents may complete this note at www.studentloans.gov.

Note:  If parents are determined to be ineligible to borrow through the Federal Direct PLUS program, the student may be eligible for Unsubsidized Federal Direct Loan. Please contact our office for further instructions. 

Alternative Student Loans
Some students find that they need additional funds to meet their costs while attending school. One option available to students would be an Alternative Student Loan. Alternative Loans are nonfederal educational loans available from a variety of national lending institutions. These loans require that the borrower be credit worthy or have a credit worthy cosigner, as they go through a normal bank credit process. Students may apply for these loans at Alternative Loans. Please note that these loans take up to six weeks to process.

Federal Perkins Loans
Federal Perkins Loans are low-interest loans (5% fixed interest rate) offered to students who meet particular criteria. No interest is charged while the student is enrolled at least half-time, and repayment begins nine months after the student ceases to be enrolled at least half-time.

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Financial Aid for Graduate, Licensure to Masters, Undergraduate Teacher Licensure, Second Bachelor Degree and Other Programs

Students in all Alverno's Graduate Programs are eligible for Direct Loans and must be enrolled at least half-time (3 credits) to qualify.

The Post-Baccalaureate Teacher Licensure Program is an undergraduate program and subject to undergraduate loan limits. Students must be enrolled at least half-time to qualify.

Students seeking a second undergraduate degree will be considered for Alverno academic scholarships and are eligible for Direct Loans. Students must be enrolled at least half-time to qualify.

Other programs that Alverno offers may not qualify for aid.

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Financial Aid for Summer Session

Loans and Pell grants are the only aid available for the summer session. Graduate and undergraduate students must be enrolled at least half time to qualify. Half time enrollment for graduate students is 3 credits. Half time enrollment for undergraduate students is 5 credits. Students are encouraged to plan their summer enrollment carefully. A loan disbursed for summer is considered part of the annual loan limit as defined by federal regulations.

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Jobs on Campus

Working on campus is a good way for students to pick up some extra cash and get connected to college life. Hours fit your schedule and paychecks are processed every two weeks.

Students willing to work 15 hours per week can earn approximately $2,500 during the school year. Many departments hire students during the summer. Openings are posted in the Financial Aid Office throughout the year.

  • Federal Work Study
    For student employees with financial need. Must be enrolled at least half-time. Federal work-study eligible students are given priority in obtaining positions. This program is funded by federal financial aid dollars.
  • Regular Student Employment
    Students are eligible to work around campus in a variety of offices and positions. This program is funded by the College.

All students wishing to work on campus must meet financial aid academic standards and be in good standing with the Alverno College Business Office to be eligible to work on campus.

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Satisfactory Academic Progress

The Financial Aid Office is required to have a Satisfactory Academic Progress policy for all students attending the College. This policy is different than the Academic Progress Policy maintained by the College. Students who do not meet this policy could lose their eligibility for financial assistance. It is your responsibility to understand this policy and make sure that you maintain the standards.

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Important Dates - Refunds/Withdrawals from Classes

What happens when I drop a class or several classes, but I am still enrolled during the term?

See Important dates! - Refunds and withdrawing from classes

The Financial Aid Office uses a census date each term. This census date is the date that your financial aid is locked in for the term. This usually occurs two weeks after the first day of WDC. Once your financial aid is locked in, if you drop a class or classes, but are still enrolled, your financial aid will remain how it was awarded and your tuition charges might be refunded based on the Alverno tuition refund policy. You should be aware of possible Satisfactory Academic Progress ramifications. Please see the SAP section for further information.

If you completely withdraw from the semester or simply stop attending, you are subject to a federal and state refund policy. This policy states that if you stop attending your classes at or prior to the 60% point of the term, your financial aid must be recalculated based on the percentage of the term you completed. The financial aid that you will be allowed to retain will correspond to the percentage of the term completed. This calculation is independent of how much you will be charged for the semester. This charge is based solely on the Alverno College tuition refund policy and does not take into consideration how much you can retain in financial aid funds. It is not unusual for a student who withdraws to owe the College money. If you are thinking of withdrawing, please contact the Business and Financial Aid Offices and they can help determine what the financial consequences will be if you withdraw.

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Links to Helpful Financial Aid Information and Websites

Tax Benefits for Your 2010 Income Tax Return!
EdFund has provided this Guide to Federal Tax Benefits for Higher Education for the 2010 tax year.  You and/or your parents may qualify for tax credits or deductions on tuition.  Note that Financial Aid Office staff cannot provide you with tax filing advice.  Contact a professional tax advisor if you need help filing your taxes.

Get a PIN # which can be used to sign a FAFSA or Federal Loan Applications at www.pin.ed.gov. Complete the FAFSA or Renewal FAFSA on line at www.fafsa.ed.gov.

Student Financial Aid Web site maintained by the United States Department of Education designed specifically for the student.

Conduct a free scholarship search at www.FASTWEB.com.

Search through a large scholarship search engine at www.nextstudentloans.com

A comprehensive site about financial aid is www.finaid.org.

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