Financial Aid Federal College Financing Plans

Federal College Financing Plans

Albertus Magnus College adheres to the State of Connecticut Public Act No. 13-95 by sending the Federal College Financing Plan to all awarded students in an effort to improve consumer disclosures and ensure that students make wise decisions when investing in higher education. Albertus Magnus College also signed the Memorandum of Understanding with the Department of Veterans Affairs which requires all prospective veteran students receive the College Financing Plan. The College Financing Plan is a standardized form that is designed to simplify the information distributed to current and prospective students about costs and financial aid, and allows them to compare net institutional costs so as to make informed decisions about where to attend school.

The College Financing Plan discloses and simplifies the Cost of Attendance and details the College’s graduation rates, three-year federal cohort default rate, and median borrowing with estimated repayment as compared to the national average. All students are encouraged to apply for Financial Aid by completing the Free Application for Federal Student Aid (FAFSA) online. Once completed, students should contact the Financial Aid Office to find out if additional documents are required.

First-time, full-time students who borrow at Albertus Magnus College typically take out $30,255 in federal loans for their undergraduate study. The federal loan payment over 10 years for this amount is approximately $348.18* per month. Your borrowing may be different.

*All repayment estimates are based on total loan debt resulting from unsubsidized loans with a 6.8% interest rate.

Albertus Magnus College’s draft FY 2017 Cohort Default Rate (CDR) is 5.7 and the FY 2016 CDR is 9.2.

Please note: The College Financing Plans provided are based on a full-time, on-campus enrollment status. If you do not meet that enrollment status, please contact the Financial Aid Office for the appropriate College Financing Plan.

Undergraduate Students

• Full-Time Commuter Students in the Traditional Undergraduate Programs
• Full-Time Resident Students in the Traditional Undergraduate Programs
• Full-Time Students in the Professional and Graduate Studies Undergraduate Programs

Graduate Students

• Full-Time Students in the Masters of Art Therapy Program
• Full-Time Students in the Post-Graduate Addiction Counseling Certificate Program
• Full-Time Students in the Masters of Clinical Counseling Program
• Full-Time Students in the Masters of Education, Human Services, and Liberal Studies Programs
• Full-Time Students in the Masters of Business Administration, Accounting, Management & Organizational Leadership, Criminal Justice, Leadership, and Public Administration Programs
• Full-Time Students in the Masters of Fine Arts in Writing Program

Please refer to this College Financing Plan Glossary for more information on the terms used.

Need Help Completing the College Financing Plan?
Please contact the Financial Aid Office with any questions, for more information, or for help completing the College Financing Plan at (203) 773-8508 or financial_aid@albertus.edu.