Financial Aid

In a real sense, every student admitted to Principia receives financial aid because income from tuition and fees covers less than 25% of Principia’s operating budget. Income from our endowment and gifts from generous donors pay the balance.

Principia College provides a generous financial aid program which is based on individual family need. Grants, loans and employment are available to qualified students who submit applications by the due date. Applications submitted after this date will be considered and awards made as long as funds are available. Last year Principia awarded more than $10 million in merit scholarships and need-based aid to approximately 90% of the enrolled students.

Application Process

A student must apply for each year that financial aid is requested. Financial aid is available through completion of a normal academic program for eight semesters. Exceptions require special review and approval.

New students should submit their financial aid applications at the same time as their admissions application, but no later than March 1. Applications received after that date will be considered and awards made as long as funds are available. Continuing students should submit complete financial aid packages no later than April 15.

The items shown below are needed to submit your application to the financial aid committee for consideration. Please mail, email or fax them to:

Principia College
Office of Admissions and Financial Aid
One Maybeck Place
Elsah, IL 62028
Fax: 618.374.4000
Email:
finaid@principia.edu
 

  1. College Scholarship Service PROFILE (New students only, or those applying for financial aid for the first time)
    The PROFILE is the nationally recognized method that Principia uses to assess eligibility for financial aid. You must complete the PROFILE online at www.collegeboard.com. Principia’s CSS code number is 1630.
  2. Principia’s Application for Financial Aid (Returning Students Only)
    Every returning student must complete the financial aid application in BannerWeb.
  3. Federal Income Tax Returns
    Every application must be accompanied by a complete copy of the parent’s and the student’s tax return for the most recent tax year. New students may submit last year’s tax return for an estimated award.

After a student is admitted and upon receipt of all necessary documents mentioned above, the financial aid committee will notify students about aid awarded.

The Office of Admissions and Financial Aid would be happy to answer your questions at any time. You may reach them at 618.374.5187 or 800.277.4648 ext. 2813. The email address is finaid@principia.edu.

Application Process for International Students

Students must complete the “Principia Application for Financial Aid for International Students” and the “Certification of Finances” forms and submit them along with supporting documentation (i.e., tax forms, bank statement, verification of income) with their application for admission.

Components of Financial Aid Package

Grants–Gifts that do not need to be repaid and are part of most financial aid packages.

Loans–Financial aid packages usually include a low-interest student loan. These loans are payable in monthly installments beginning nine months after graduation or when the student ceases to be enrolled in any educational institution at least half time.

Outside Resources

Students are encouraged to actively pursue outside sources of college funding from their community, employers, and civic organizations.

Conditions Governing Financial Aid Awards

Recipients of financial aid awards are required to maintain satisfactory academic progress and to uphold community standards. Falsifying information on a financial aid application could result in immediate cancellation of all financial aid and could result in disciplinary suspension. Students who already hold a college degree are not eligible for financial aid.

Students interested in working on campus should contact the Human Resources Office for Student Employment as soon as they arrive on campus. While it is not feasible for a student to cover the entire cost of a Principia education by working on campus, income earned through student employment can be a significant help toward meeting expenses.