Verification: Required by the U.S. Department of Education, verification is the process of confirming information submitted on the Free Application for Federal Student Aid for various Federal Title IV Funds, including the Federal Stafford Loan. Student applicants should be aware that this federal regulation requires them to submit tax transcripts and other requested information to the Office of Hawk Central before processing of student loan applications and/or the awarding of funds. Students must submit the required information to complete the verification process no later than 45 days after the first day of the student’s enrollment. Tax documents should only be submitted if they are requested on your financial aid award letter.

Federal Work-Study Program: A federally supported employment program that enables students to work on or off campus to help them meet educational expenses. Money earned is paid directly to the student biweekly based on hours worked and should not be deducted from tuition. * Jobs are not guaranteed.

Free Application for Federal Student Aid (FAFSA): A free application for federal aid that must be completed annually by all students seeking financial aid at SJU.

Grant: A type of financial aid based on need or merit that is not repaid by the student.

Subsidized Loan: The government pays the interest on the loan while the student is in school, during the six-month grace period after graduation and during any deferment periods.

Unsubsidized Loan: With this loan, the government does not pay the interest while the student is enrolled. The student has the option to either pay the accruing interest monthly or allow the interest to capitalize (to be added to the principal). Required payments do not begin until six months after graduation or six months after the student drops below half-time enrollment.

Deferment: An authorized period of time during which a borrower may postpone principal and interest payments.