Students are expected to meet certain requirements to retain their awards. Federal and state programs require students to maintain satisfactory academic progress (SAP) as determined by their institution. Our institutional SAP Policy can be reviewed in theCollege catalog. Additional GPA and credit level requirements may need to be met to continue receiving certain awards.

SCHOLARSHIPS

SCHOLARSHIPS: See theCSS Scholarship Directoryand read the student announcements posted through the e-mail system for the most up to date scholarship opportunities. Other resources to consider includethe following on-line directory searches:www.finaid.org,,www.fastweb.com, and http://www.scholarshiphelp.org/index.htm. Please contact your employer regarding tuition reimbursement programs.

LOANS

FEDERAL SUBSIDIZED STAFFORD LOAN: This loan is offered to students who demonstrate financial need. The interest rate is fixed at 6.8%. The quarterly interest is fully subsidized (paid) by the government until the student goes into repayment. Repayment begins 6 months after the student graduates, leaves school or drops below half-time enrollment. A 2-3% origination/guarantee fee is typically charged by thelender/guarantee agency to borrow this loan.Stafford Loan Forgiveness Program

FEDERAL UNSUBSIDIZED STAFFORD LOAN: The Unsubsidized Stafford loan is offered to students with low financial need. The terms are the same as the Subsidized Stafford loan (see above) except the borrower is responsible for the quarterly interest. A borrower can choose to pay the quarterly interest or opt to let it capitalize. A student may be eligible for additional Unsubsidized Stafford Loan funding if the Parent PLUS loan is denied by a lending institution.

SELF LOAN: The Student Education Loan Fund (SELF) Program is a long-term, low interest educational loan provided by the Minnesota Office of Higher Education Services (MOHE). The interest rate is variable, averaging 6.81% since 1988. The program is unique to Minnesota colleges because MOHE is the only lender in the program, and there are no origination fees assessed. A credit worthy co-signer is required and his/her signature must be notarized. The student is responsible for paying quarterly interest while in school and monthly interest for the first 12 months after the student graduates, leaves school, or drops below half-time enrollment.. Principal and interest payments begin the 13th month out of school. Maximum borrowing amount: $9,000.

FEDERAL PLUS LOAN FOR GRADUATE STUDENTS: This is a new federal loan available to students in a graduate or professional program. A credit review will be performed on all applications. There are no annual loan limits other than cost of attendance less other aid received. There is a 3% origination fee assessed to all loans, and some lenders may include a 1% default fee. The interest rate is fixed at 8.5%.

PRIVATE/ALTERNATIVE LOAN OPTIONS: Sometimes a supplemental loan is required to meet your expenses while attending St. Scholastica. Alternative loans typically require a credit worthy borrower and/or a credit worthy cosigner. Enrollment requirements and all other terms & conditions vary by lender. More Information

OTHER FORMS OF AID

Graduate students are typically only eligible for loan funding. For more information on scholarships, please view the following on-line directory searches:http://www.finaid.org/andhttp://www.fastweb.com/. Please contact your employer regarding tuition reimbursement programs.