Financial Aid will release funds for grants and scholarships after verifying the accuracy of the information upon which the award was based. Under normal circumstances, half of the total financial aid award will be credited each semester.
Students may deduct from the amount due any forthcoming outside awards that will be sent directly to the College. Half of the award will be credited to the fall and half to the spring unless the award notice specifies a different application. The Office of Student Accounts must have documentation of these awards, such as a notification letter of the award from the donor. Outside awards and scholarships, such as the Merit Scholarship, state grants, and employer tuition benefits, will be credited to student accounts when the Office of Student Accounts receives payment. If you receive an outside award and the provider of this award requests a copy of your tuition bill, please notify our office immediately so we can provide one for them.
Outside scholarships are awards received from all private sources, including tuition benefits received from a parent’s employer. Because Trinity meets full, demonstrated financial need, federal regulations may require a reduction in your financial aid award if you receive an outside scholarship. Receipt of state scholarship and tuition benefits from a parent’s employer will reduce your Trinity Grant dollar for dollar. Scholarships from all other outside sources (Elks, Rotary, etc.) may reduce the self-help (job/loan) portion of your aid package dollar for dollar. Any additional awards above self-help may reduce your Trinity Grant dollar for dollar. If you receive a special aid package that does not include any self-help, your Trinity Grant will be reduced dollar for dollar, should you receive an outside scholarship. If you receive an outside award and the provider of this award requests a copy of your tuition bill, please notify our office immediately so we can provide one for them.
Direct Stafford Loans
Credits for Stafford loans will be posted after the loan promissory note and entrance loan counseling have been completed and all financial aid paperwork is complete. The loan credit that appears on your bill may be minus any loan fees. First year students will be instructed to sign their promissory notes electronically and complete their entrance loan counseling on line.
Parent PLUS Loans-Direct
A PLUS Loan allows parents of dependent undergraduate students to borrow up to the cost of attendance minus financial aid. Loan fees will be deducted by the lender but can be added to your requested loan amount at application.
The Plus loan funds will be disbursed directly to the student’s account in two disbursements, one in the fall and one in the spring. Each disbursement will be minus the loan fee. Repayment of principal and interest begins after the second disbursement.
To apply for a PLUS Loan you must: Complete the application online, file a current Free Application for Federal Student Aid (FAFSA); be a United States citizen, national or eligible non-citizen, borrowing to pay college costs for a dependent student who meets all requirements set forth in federal regulations, provide your Social Security number, not be in default of any Title IV Loan unless satisfactory repayment arrangements have been made with the holder, not owe a refund on any Title IV grant unless satisfactory repayment arrangements have been made, not be determined to have adverse credit as defined by the PLUS Loan program, and comply with all other requirements as set forth in the Higher Education Act of 1965, as amended. www.studentloans.gov
Alternative Loan Programs
Alternative loan programs present options that may assist you in meeting the costs of your financial obligation to Trinity. If you select an alternative loan, the College requires loan approval by August for the fall term, and by December for the spring term. Submission of a loan application does not constitute payment and your account may be subject to late fees.
Please note: Trinity College students are free to select any lender of their choice in the alternative loan programs.
Students should consider obtaining a private education loan only if they have maxed out all Federal Stafford Loans and Federal Aid. The fees charged by some lenders can significantly increase the cost of the loan.
For detailed information on private loans, including comparison sites, please visit the website listed on the Alternative Loan page.