Our mission at Roanoke College is to serve students. The financial aid program is integral to this objective. For many students and families, the costs of a private college may seem out of reach. Our goal is to do our best to ensure that no deserving student is denied a quality Roanoke College education because of lack of funds.
The College actively participates in a wide range of federal and state student aid programs. We also make generous commitments each year from our own resources to help students. Roanoke College administers nearly $40 million in financial aid annually. We work closely with each family to match their needs with federal, state, private and College resources. Qualified students can receive a financial aid award with includes assistance ranging from scholarships and grants to loans and jobs. At least 85% of our enrolled students receive aid from these types of programs.
As you and your family consider the financing options available at Roanoke College, it is important to realize that factors other than income are considered when determining financial opportunities. Virtually every student is eligible for some form of budgeting assistance, whether it be a full financial aid package or a monthly payment plan. The Financial Aid Office is available to assist you in determining the programs for which you may qualify.
Background Information you may be interested in...
Tuition and Fees
How much does it cost to attend Roanoke? Check out the direct costs. But remember, you will probably receive some financial assistance.
How will my credits transfer to Roanoke?
One unit at Roanoke College is equivalent to a four-semester-hour course. Three-semester-hour courses determined transferable will earn a full unit of transfer credit. To be considered for graduation, 33.5 total units must be earned. One half of any major, minor and/or concentration units must be earned at Roanoke College. A minimum of 17 units, excluding the physical education activities worth .25 units each, must be earned at Roanoke College to be eligible for graduation.
The Awarding Process...
Experience tells us that, for most students and their families, the process of investing in a Roanoke education consists of four steps.
1. Exploring funds awarded on the basis of academic merit;
2. Exploring funds awarded based on the results of the Free Application for Federal Student Aid (FAFSA);
3. Exploring funds available as a result of geographical location or religious affiliation; and
4. Exploring optional payment plans.
Step 1: Academic Scholarships and Grants
Academic scholarships and grants are available to all full-time students based upon their cumulative college transfer grade point average. The Financial Aid Office automatically reviews all accepted students for College Scholarships and grants. You do not need to fill out a separate application for most merit-based awards. However, you must file a Free Application for Federal Student Aid (FAFSA) to apply for federal and need-based funds; and you must file the appropriate state aid application to be considered for assistance from your state, if applicable. All full-time Virginians must file the Virginia Tuition Assistance Grant Program application with the College.
Transfer students accepted to Roanoke College, may qualify for $17,000 - $22,000 in institutional merit funds. The scholarship amounts, which are funded from different sources, are available to eligible incoming transfer students upon their acceptance to Roanoke College. Below are some examples of the types of awards a transfer could expect:
Transfer GPA - Amount of Grant
2.4 - $18,000
2.5 - $19,000
2.75 - $20,000
3.15 - $22,000
3.5 - $23,000
Once a need-based award has been presented, the college will no longer evaluate for additional merit-based aid.
*Students who obtain an Associates Degree from the Virginia Community College system and transfer to Roanoke with at least a 3.5 cumulative transfer GPA, will be eligible for an additional $3,000! Students are required to notify the College at the time of application whether they anticipate obtaining their Associates Degree prior to enrollment.
**Students who members of the Phi Theta Kappa Honor Society are eligible for a Phi Theta Kappa Scholarship at Roanoke College. Students who supply documentation of their membership will receive $2,500 a year. Students are required to notify the College at the time of application whether they anticipate enrollment in Phi Theta Kappa prior to matriculation.
***Students transferring to us with residency in another state will be eligible for the $2,000 Out of State transfer grant.
Most College programs, as well as the Virginia Tuition Assistance Grant, are renewable for three additional years, provided the student maintains satisfactory academic progress according to College guidelines. Generally no renewal application is necessary in these cases. However, you must reapply each year for all federal and need-based programs, and for various other programs.
Step 2: Need-Based Programs
You will need to complete the Free Application for Federal Student Aid (FAFSA) to determine eligibility for federal programs and other aid opportunities. The form must be completed as soon after October 1 as possible. The Roanoke College federal school code is 003736. Students who file the FAFSA by March 1st will be eligible for a $1,000 FAFSA filer grant.
Are you interested in the different types of Federal financial aid you may be eligible for? Check out our page on State and Federal Grants! Roanoke participates in the Federal Pell Grant Program (awards range from $0 - $6,345) and the Federal SEOG Program (awards range from $0 - $400). We also offer some supplemental need based assistance from the college in the form of a Supplemental Grant.
Loans Options at Roanoke
Interested in the different types of loans you may qualify for from Roanoke? Explore your options and find out all that Roanoke has to offer.
Step 3: Entitlement Funds and Self-Help Funds
Entitlement funds are awarded according to geographical or other affiliation. Self-help funds permit students to be responsible for their educational expenses by working or taking loans. Be sure to check out the links below for some additional information.
Virginia Tuition Assistance Grant. Please note that the Virginia Tuition Assistance Grant, which is available to bona-fide residents of the Commonwealth of Virginia is estimated by the State Council of Higher Education in Virginia to be $3,400.
Loans at Roanoke
Do you need additional help financing your Roanoke College education? Explore the different loan opportunities that Roanoke has to offer!
Interested in working on campus? Here are some frequently asked questions about Roanoke's program!
Need help finding some additional funding for which you may qualify? Visit the following sites for some helpful hints and useful information:
RC Scholarship Bulletin Board
FastWeb - A Scholarship Search Engine
Step 4: Payment Schedules
Optional payment plans and/or parent loans are available to assist with educational expenses.
Payment Plan: Interested in making several payments spread over a period of time instead of lump sum payments? Check out what Roanoke College has to offer.
Still need additional funds to help finance your education? Roanoke participates in the Federal Parent Loan for Undergraduate Students program. Click on the link above if you think your parents may qualify for a loan and scroll to the bottom of the page for additional information on this great loan program.