Need-based Financial Aid

The College of Saint Benedict and Saint John's University have a long tradition of educating students from all economic backgrounds. Financial aid is available to students who qualify based on the results of the Free Application for Federal Student Aid (FAFSA) and the CSB/SJU Financial Aid Application. The following are examples of aid available:

Grants

All grants are awarded to students based on financial eligibility as demonstrated by the family's information on the Free Application for Federal Student Aid (FAFSA).

Grants	Yearly Amount	Qualifying Information
CSB Grants and Saint John's Abbey Scholarships	$500 - $10,000	All grants are awarded to students based on financial eligibility as demonstrated by the family's information on the Free Application for Federal Student Aid form (FAFSA). * To be considered for the TEACH Grant, students must completing or planning to complete the coursework necessary to begin a career in teaching. See other qualifying information.
Federal Pell Grants	$555 - $5,550
Federal SEOG Grants	$500 - $4,000
Minnesota Grants	$100 - $9,050
TEACH Grant*	$4,000 a year (renewable)

Student Employment

Students who work through the CSB/SJU Student Employment Program gain valuable skills and earn money to assist in paying for college. Students generally work 5-10 hours per week. Priority consideration is given to students with financial eligibility as demonstrated by the Free Application for Federal Student Aid.

Student Loans

CSB and SJU students are eligible for all major federal and state student loan programs. These programs include:

Need-based Loan Programs:

Name	Loan Maximum	Interest Rate	Repayment Terms
Federal Perkins Loan	Up to $4,000/year	Interest-free while enrolled at least half-time; 5% interest rate during repayment	Nine months after college enrollment ends
Federal Direct Loan (Subsidized)	First year: $3,500 Second year: $4,500 Third & Fourth years: $5,500	Interest-free while enrolled at least half-time; 6.8% interest rate during repayment	Six months after college enrollment ends

Available to all students and parents regardless of family income:

Name	Loan Maximum	Interest Rate	Repayment Terms
Federal Direct Loan (Unsubsidized)*	First year: $5,500* Second year: $6,500* Third & Fourth years: $7,500*	6.8% rate during in-school and repayment	Six months after college enrollment ends
Federal Parent Loan for Undergraduate Students (PLUS)	Cost of education minus other aid	7.9%	60 days after loan is disbursed
Private Student Loans (MN SELF Loan, Bank of ND DEAL Loan, Wells Fargo Loan)	Varies	Interest rates and fees are determined by the lender.	These loans are taken out by the student with a credit worthy cosigner. The FastChoice web site provides additional details and loan comparisons for these private educational loans. CSB Students SJU Students

*Federal Direct Loan (unsubsidized) maximums will be reduced by any loan taken through the Direct Loan (subsidized) program.