Grants
Grant aid can be Pell grants, SEOG (Supplemental Educational Opportunity Grant), or Pennsylvania State grants if the student qualifies for this type of aid. Institutional grants and scholarships at Saint Joseph´s University are awarded to students based on merit at the time of admission.
Federal
State
Institutional
Loans
To help students afford the cost of a Saint Joseph´s University education, we are pleased to be able to offer several financing options. The options available include need- and non-need-based loans. Students and families are encouraged to review the options to determine which is best suited for their specific needs.
Descriptions of need- and non-need-based federal, state, and alternative loan programs (below) help determine the amount of additional financing a student might require.
It is not Saint Joseph´s University´s practice to recommend a specific lender. Each student/parent has the right to select a lender of their choice. It is your responsibility to inform the Office of Student Financial Services of your choice.
Important Federal Direct Loan Changes Effective July 1, 2012:
- The Consolidated Appropriates Act, 2012 which was signed into law on December 23, 2011, affects the grace period for Federal Direct Subsidized/Unsubsidized Loans which are first disbursed on or after July 1, 2012 and before July 1, 2014. Federal Direct Loans will still begin repayment 6 months after graduation or dropping below half time, however interest will accrue on the Federal Direct Subsidized loans during this time.
- Due to the Budget Control Act (BCA) of 2011, Direct Loan borrower repayment incentives have been terminated on all Federal Direct Loans, including Parent PLUS and Graduate PLUS Loans. There will no longer be a rebate given on the loan fees.
- Graduate students are no longer eligible to receive Federal Direct Subsidized Loans effective on or after July 1, 2012. Graduate students in a Masters Program may be eligible for up to $20,500 in Federal Direct Unsubsidized Loans and graduate students in a Certificate Program may be eligible for up to $12,500.
Federal Loan Options
Undergraduate
- Federal Perkins Loan
- Perkins Loan Entrance and Exit Counseling
- Federal Direct Subsidized and Direct Unsubsidized Stafford
- Entrance/Exit Counseling Requirement for Federal Direct Subsidized/Unsubsidized Loans
- Federal Direct Parent Loan for Undergraduate Students (PLUS)
Graduate
New borrowers often ask for help in selecting a reliable lender. In general, interest rates and terms of the loan are similar between lenders. The quality of service throughout the life of the loan may distinguish one lender from another. Due to legislative changes Saint Joseph’s University’s Hawk Central does not have a preferred lender list. For convenience, a list of lender names and contact information that previous students have used is provided. Before deciding to borrow, carefully investigate all options. Please be sure to understand the application procedures, eligibility criteria, interest rate and processing fees, disbursement procedures, and repayment terms for each loan being considered.
The Federal Work Study (FWS) Program provides on-campus employment during the summer and academic year to undergraduate full time day students who demonstrate financial need.
Policies
The Office of Student Financial Services is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60 percent of a payment period or term.
Satisfactory Academic Progress
Merit Scholarship Reduction Policy
Verification Policy
Verification is a requirement of the U.S. Department of Education and 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 data and other requested information to 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 before the last day of the student’s enrollment.
Items to be verified include: adjusted gross income from the IRS form; U.S. income taxes paid; number of family members for whom parents provide more than half of their support; the number of children in post-secondary schools who are enrolled at least half time; dependency status; untaxed income; eligible non-citizen status and any other item for which conflicting information has been submitted to Hawk Central. Any change in eligibility as a result of verification will be noted in a revised award letter to the student.
Dependent students: Student and parent’s prior year IRS Tax Transcript
Dependent Verification Form
Independent students: Student’s (and spouse’s if applicable) prior year IRS Tax Transcript
Independent Verification Form
2013-2014 Verification form:This form is required for any student whose FAFSA was selected for Federal Income Verification for the 2013-2014 Aid Year. If selected, please complete the 2013-2014 Verification Form and submit with required documentation. Verification documentation will differ based on a student's verification type. Please confirm individual requirements listed on MYSJU.
If the student or parent/stepparent did not file taxes, a signed non-tax filer statement and copies of all W-2 forms must be submitted. Non-taxable income verification may be requested.