Financial Aid Office

Can you answer a question about my student bill?

Questions regarding payments, credit balances, refunds, the PCT OneCard, etc. should be referred to the Bursar's Office (Student Accounts).Questions about financial aid should be directed to the Financial Aid Office. Financial aid that's been applied for and approved before your student bill is generated will appear on your student bill.

How do I know how much aid I'll receive?

The fastest way to check your aid is through the Student Information System (SIS),via 'Financial Information'. Processing of financial aid for students starting in the fall semester occurs from late winter through the summer, and during the autumn and early winter for students starting in the spring semester. Since awarding of aid is an ongoing process that depends in large part on how promptly you complete applications,you may need to check SIS several times before all aid is posted to your student account. Related information is provided in the next question and answer (below).

Will I receive a financial aid "packaging letter" from Penn College?

You will not receive a comprehensive "packaging letter" because, as a public institution, not a private one, Penn College charges tuition by the credit, rather than one rate for all full-time students. Also, Penn College does not have the large scholarship pool that many private colleges use to "package" financial aid.

However, you will receive a letterform us regarding your eligibility for the Federal Pell Grant once we have received your FAFSA information. As student and parent loans are credited to your student account, we will mail you information on what has been credited.

In addition, your eligibility notice for a state grant should be sent to you directly from your state's higher education agency.

All of the above notices will occur as we process your financial aid. Refer to the previous question for information on how to easily check your aid.

How do Penn College costs and financial aid differ for Pennsylvania residents and out-of-state residents?

The only difference in educational costs results from the difference in tuition rate between in-state and out-of-state residents. There are no differences in eligibility for federal grants and loans. Some Pennsylvania residents qualify for a PHEAA Grant. Scholarships sometimes use location of residence as a criterion.

When will I receive a refund?

If you have a pending credit balance on your student bill, you will receive a refund. You can inquire about refunds at the Bursar's Office (Student Accounts) and learn how to activate your PCT OneCard.

How do I transfer financial aid from another college to Penn College?

Learn how to transfer aid to Penn College on page 21 of the Penn College Financial Aid Handbook.

If I withdraw from Penn College this semester, but want to return next fall, what must I do to have financial aid again?

You must submit a FAFSA and FAA for each academic year you request financial aid. You also need to be aware of policies on satisfactory academic progress. Contact the Financial Aid Office to learn more. To return in a future semester, you may need to complete a Readmission Application through the Admissions Office.

How many credits do I need to earn to be making satisfactory academic progress?

Full-time students need to earn at least 24 credits during an academic year. Part-time students must complete at least 75% of the credits they begin with each semester. You can read the Satisfactory Academic Progress policy, which is also in the Financial Aid Handbook . Note that there are separate policies for Federal financial aid and PHEAA Grants.

If I am transferring to Penn College, and I owe money to my previous college, who can I talk to?

You need to discuss bills from your previous college with that college's Bursar's or Billing Office. Most colleges will not release an official grade transcript until past due balances have been paid in full.