The Office of Student Financial Services at Saint Leo University is committed to assisting students and their families meet the cost of attending SLU. The following information is provided to ensure that students who apply for assistance understand the financial aid programs offered to them, the application procedures, and to answer some of the most commonly asked questions about financial aid.
For further details, please feel free to contact the Student Financial Services Office at
800-240-7658, or finaid@saintleo.edu
FEDERAL AID PROGRAMS
FEDERAL PELL GRANT: This program provides assistance in the form of a grant to undergraduate students who have demonstrated the highest calculated need. It is estimated that the 2011-2012 award amounts will range between $1,176 and $5,550 for full-time study. The Expected Family Contribution (EFC) calculated from the Free Application for Federal Student Aid (FAFSA) determines the award.
FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT (SEOG): This federal grant is awarded to Federal Pell Grant recipients who have demonstrated the highest calculated need. Eligible students will receive an award amount between $500 to $1,000 per year depending on the EFC calculated and fund availability.
FEDERAL WORK STUDY: This award provides employment opportunities for students with financial need. Students are employed by various campus administrative offices, academic departments and community service agencies. Students are paid an hourly rate and receive paychecks semi-monthly for hours worked. Work Study will not be reflected as anticipated aid on the student’s account. Students will have the opportunity to select the jobs they would like and apply for these jobs online. Available jobs are posted on the Work Study employment website in early August.
FEDERAL STAFFORD LOAN (SUBSIDIZED AND UNSUBSIDIZED): These are low-interest, long-term loans available for a student’s educational expenses. The award for a first-year student is $5,500. Second-year students receive $6,500, and other undergraduates are eligible for $7,500. Additional loan funds are available for borrowers who meet the Department of Education’s standards for financial independence ($4,000 for first- and second-year students; $5,000 for third- and fourth-year students).
A Subsidized Stafford Loan is awarded on the basis of financial need. The federal government pays the interest on the loan during the time you are enrolled in college and during any period for which loan payments are deferred.
An Unsubsidized Stafford Loan is not awarded on the basis of financial need, and you are charged interest from the time the loan is disbursed until it is paid in full. This loan is designed for students who do not qualify for Subsidized Stafford Loans
How to Apply for Stafford Loans In order to accept, reduce, or decline the Stafford Loans offered on your award letter, you must go to e-Lion at my.saintleo.eduOnce you accept the loan, you must complete a Master Promissory Note through the Direct Loan Program at studentloans.gov. Click on “Complete New MPN for Student Loan”. First time borrowers must also complete “Entrance Counseling” after signing the promissory note prior to the first disbursement
UNIVERSITY PAYMENT PLAN
Saint Leo University offers multiple payment plans each semester. The Payment Plan option allows students to pay the Amount Due from Student on the billing statement in two, three, four, five, or six automatic installments. Additional information and instructions to set up payment plans will be provided with the Fall invoice.
STATE AID PROGRAMS
FLORIDA BRIGHT FUTURES SCHOLARSHIP PROGRAM: If you graduated from a Florida high school, you may be eligible for this program. Awards are for undergraduate enrollment and are not based on financial need. Awards were estimated using the 2010-2011 scholarship amounts of $126/credit hour for Academic and $95/credit hour for Medallion. Eligibility information should be obtained from your high school guidance counselor and may be renewed provided you meet the renewal criteria.
FLORIDA RESIDENT ACCESS GRANT (FRAG): Undergraduates attending a private college in Florida are eligible for state assistance. FRAG is not based on financial need. Eligible students will receive an estimated award of $2,149 pending state budget. Awards are renewable by maintaining a 2.0 cumulative GPA and earning 24 credit hours at Saint Leo University during the academic year.
FLORIDA STUDENT ASSISTANCE GRANT (FSAG): Saint Leo University awards the FSAG to undergraduate full-time students based on financial need and fund availability. Eligible students may receive an award up to $1,808 per academic year.
SAINT LEO UNIVERSITY SCHOLARSHIP PROGRAMS
SAINT LEO UNIVERSITY SCHOLARSHIPS: The scholarships are based on your academic history and accomplishments, and financial need is not a factor. The Office of Undergraduate Admission determines eligibility and awards funds. Awards vary but do not exceed the cost of tuition. Awards are renewable by maintaining at least a 2.0 cumulative GPA and earning 24 credit hours at Saint Leo University during the academic year.
SAINT LEO UNIVERSITY NEED-BASED GRANT: As an incoming full-time undergraduate student at the University Campus, you are considered for this grant. These awards are made based on financial need and grant fund availability.
SAINT LEO UNIVERSITY OUT-OF-STATE GRANT: This grant is awarded to students who reside outside the state of Florida. Financial need is not considered in this grant. Eligible students will receive $2,000 per academic year
ADDITIONAL FINANCING OPTIONS
FEDERAL PLUS LOAN (PLUS): Many families find the Parent Loan for Undergraduate Students an attractive alternative to using lifetime savings and investments for educational expenses. To qualify for a PLUS Loan, parents must have a satisfactory credit history. The annual limits are the cost of attendance minus other aid. If the parent is denied a PLUS Loan, the student may be eligible for an additional Unsubsidized Stafford Loan.
HOW TO APPLY FOR THE PLUS LOAN: Parents who are interested in applying for a PLUS Loan can Sign In with the Parent PIN at studentloans.gov to complete the PLUS process.
ALTERNATIVE EDUCATION LOANS: A number of lenders have developed educational loans for students who have exhausted all other sources of educational assistance. An internet search for Alternative Education Loans will provide a list for you.
SAINT LEO UNIVERSITY
2011-2012 CHARGES FOR FULL-TIME UNDERGRADUATES (ESTIMATED):
Residential Commuter
Tuition and Fees $ 18,870 $ 18,870
Room and Meal Plan $ 9,120 Not Required
TOTAL $ 27,990 $ 18,870
If you have any questions, please contact us:
Phone: (800) 240-7658 or (352) 588-7403
Fax: (866) 708-7770
E-mail: finaid@saintleo.edu
