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Need-based Financial Aid
Overview
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). 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 - $9,000 |
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). |
|
Federal Pell Grants |
$976 - $5,350 |
|
|
Federal SEOG Grants |
$500 - $4,000 |
|
|
Minnesota Grants |
$100 - $9,444 |
| Federal ACG Grant (Academic Competitiveness Grant) | $750 First-year students, $1,300 Second-year students |
Pell-eligible students who have completed a rigorous course of study (defined by the federal government) during high school. Second-year students must have a minimum college GPA of 3.0.
|
| Federal SMART Grant (Science and Mathematic Access to Retain Talent grant) | $4,000 Third-year students, $4,000 Fourth-year students |
Pell-eligible students majoring in specific government defined areas of math or science. Majors covered under this program at CSB/SJU: computer science, pre-engineering, biology, biochemistry, mathematics, chemistry, physics, applied physics and natural science. Must maintain a minimum cumulative GPA of 3.0. |
| Minnesota Achieve Scholarship | $1,200-$4,022 (one year only) | Minnesota residents who have completed a rigorous course of study during high school. Information and application. |
| TEACH Grant | Up to $4,000 a year (renewable) | Must be completing or plan to complete coursework necessary to begin a career in teaching. See other qualifying information. |
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. See examples of some of the job opportunities that are available to CSB and SJU students.
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 Stafford Loan (Subsidized)
|
First year: $3,500 |
Interest-free while enrolled at least half-time; 5.6% 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 Stafford Loan (Unsubsidized)*
|
First year: $5,500 |
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 |
| Student Educational Loan Fund (SELF)
|
$7,500 per year |
Varies quarterly** — |
Interest must be paid during school; principal begins 12 months after college enrollment ends. |
| Dakota Education Aternative Loan (DEAL) | Loan maximum: cost of education minus other aid | May choose either a fixed or variable interest rate. Rates as of July 2009:
Fixed — 7.9% Variable — 3.1% |
Repayment Terms: interest accrues during in-school periods; repayment begins 6 months after college enrollment ends. |
*Federal Stafford Loan (unsubsidized) maximums will be reduced by any loan taken through the Stafford Load (subsidized) program.
**Historical interest rate average for the SELF Loan is 6.56%.
Office of Admission
College of Saint Benedict
Saint John's University
PO Box 7155
Collegeville, MN 56321
(800) 544-1489
(320) 363-2196
(320) 363-2750 (fax)
E-mail admissions@csbsju.edu