Financial Aid

Understanding the Different Types of Aid and Applying

Scholarships

Where does the money come from?
Scholarships are awarded based on academic merit at the time of admission to CSB/SJU and are funded by the institutions.

CSB/SJU also offer a limited number of specialized scholarships, in fine arts for example, that require an additional application.

How do I get the money?
Your application for admission to CSB/SJU is used to determine your merit scholarship eligibility. You do not need to submit an additional application. Scholarships are automatically renewed each year for up to four years. 

Do I have to pay it back?
Scholarships do not need to be paid back.

Tip:

Apply for outside scholarships every year to assist with paying tuition and other fees.

Grants

Where does the money come from?
Grant money is provided both by federal/state funding and institutional funds.

How do I get the money?
Eligibility for need-based grants is based on family income and financial information. You must fill out the Free Application for Federal Student Aid (FAFSA) to be considered grant funding. Students whose FAFSA is selected for verification ust also complete the CSB/SJU Financial Aid Applications and Certification page. These awards may be renewed annually or replaced with other need-based gift aid.

Do I have to pay it back?
Grants do not need to be paid back.

Student Employment/Work Study

Where does the money come from?
Student employment money is funded by the federal and state government as well as the institutions and offered to students based on financial need.

How do I get the money?
The information you provide when you submit the Free Application for Federal Student Aid (FAFSA) and the CSB/SJU Financial Aid Application will determine your work study eligibility and work award amount.

If you qualify, you will be awarded a 5-6 hours/week or 10-12 hours/week award.

You DO NOT automatically receive this money. You are responsible for applying to and securing an on campus job and working your awarded hours for the entire year in order to earn this money. 

Do I have to pay it back?
You do not have to pay back student employment money; however, you are required to earn it. If you choose not to work on campus, you are not eligible to receive this aid. 

Tips:

Apply 100% of your earnings to your student account or you will be responsible for covering the remaining balance that your work study award would have covered.

Apply for and secure a job prior to arriving on campus and begin working in the first week of classes.

Make sure you are meeting your awarded hours each week or you may have a gap on your bill.

Loans

Where does the money come from?
CSB/SJU participate in all the major federal and state loan programs. Some loans are need-based and require the FAFSA and CSB/SJU Financial Aid Application in order to determine eligibility. Others are available to all students and parents regardless of family income, though scome non-federal loans require a qualified cosigner.

How do I get the money?
Some loans are based on financial need; therefore, the Free Application for Federal Student Aid (FAFSA) and CSB/SJU Financial Aid Application are used to determine loan eligibility. However, any student may apply for a private education loan through a bank or lender.These loans do not require a FAFSA, though banks typically require a cosigner with a documented and acceptable credit history.

Do I have to pay it back?
Loans must be repaid. Depending on the type of loan, interest may begin accruing at the time of disbursement, or before or after graduation, so it is important to pay attention to how much interest will accrue as that also has to be repaid.

There are a variety of manageable repayment plans and deferment options which can be found on Federal Student Aid.

Tips:

Don't avoid borrowing if you need to. No one enjoys taking out loans; however, many students need to in order to afford college. Around 73% of CSB/SJU students take out loans to finance their education.

It is important to remember that you can take out loans and manage repaying them, but you also need to pay attention to how much you are borrowing. The average CSB/SJU student borrows $40,449 in loans over their four years.

Special Circumstances

The FAFSA uses income and family information from two years ago; therefore, the information provided to us may not align with your current financial situation. If there has been a change in your family's income or situation, fill out the Special Circumstances form so we can offer you the appropriate amount of aid.

Selected for Verification

Don't worry! Approximately 30% of applicants are selected. This does cause more work for those who are selected, but we are here to help. If you have questions about verification, contact your admission representative or the Financial Aid Office.