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Grants and Loans

Types of Aid



  • Academic Competitive Grant provides up to $750 for the first year of undergraduate study and up to $1300 for the second year of undergraduate study.

  • Federal Pell Grant is an entitlement program for undergraduate students who have not received a bachelor's degree and are enrolled in an undergraduate degree or certificate program. The federal government determines eligibility. Awards may range from $400 to $4,731 (2008-2009)

  • Federal SEOG is awarded by Saint Leo University to students who demonstrate exceptional financial need, are enrolled as an undergraduate and who have not earned a bachelor's degree. Funds are very limited and awarded to students who are eligible to receive a Pell Grant. You man receive annual awards that range from $500 to $1,000 per academic year.

  • Federal Work Study Program is awarded to students with exceptional financial need, is based on fund availability, and provides an opportunity for you to earn money while attending school. The amount awarded is the maximum that you can earn. These funds may not be used to directly pay tuition. As a work-study student, you will apply for an approved work-study position and paid for the hours you are employed.

  • Federal Subsidized Stafford Loan Program is a cooperative effort between the federal government, lending institutions and schools, which provides you with low interest, long term loans for educational costs. Saint Leo University determines the maximum amount of your loan eligibility, which is based on your financial need and class level. Students, who choose to accept a subsidized Stafford Loan, must complete a promissory note before the funds can be disbursed. The federal government pays the interest rate, which varies annually but cannot exceed 8.25%, to your lender when you are enrolled in an approved program and during eligible deferment periods. Repayment is for up to ten years, with a minimum monthly payment of $50.00. There is no penalty for prepayment. At the time of loan disbursement, an origination fee of up to 3% as well as an insurance fee of up to 1% is deducted from the loan proceeds.

  • Federal Unsubsidized Stafford Loan Program is a companion program to the Federal Subsidized Stafford Loan Program. The interest rate and repayment terms are the same as the Subsidized Stafford Loan. Eligibility for the Unsubsidized Stafford Loan is not based on financial need. Since this is not a need-based loan, interest begins immediately on the loan amount borrowed. You can elect to either pay the interest while attending school or to capitalize the interest while attending school. When interest is capitalized, the accrued interest is added the to the principal outstanding. As with a Subsidized Stafford Loan, at the time of loan disbursement, an origination fee of up to 3% as well as an insurance fee of up to 1% is deducted from the loan proceeds.

  • Federal Stafford Loan Limits The annual amount, which can be borrowed from the Federal Stafford Loan Program, is determined on the basis of your dependency status and class level. The Base Amount is the maximum amount you'll receive in subsidized or unsubsidized loan funds. The Extended Amount is the maximum amount that you can receive in addition to the Base Amount. Independent students are eligible for the Annual Base and Extended amounts. Dependent students are eligible for the Annual Base Amount. A dependent student may be eligible for the extended loan amount only when a parent has been denied a PLUS loan. The federal government also regulates the aggregate, or total, amount of loan funds allowed.


    • Grade Level Subsidized Federal Stafford Unsubsidized Federal Stafford Total Federal Loan Limits
    Freshman $3500 Dependent=$2000 Dependent=$5500
    Freshman Independent=$6000 Independent=$9500
    Sophomore $4500 Dependent=$2000 Dependent=$6500
    Sophomore Independent=$6000 Independent=$10500
    Junior/Senior $5500 Dependent=$2000 Dependent=$7500
    Junior/Senior Independent=$7000 Independent=$12500
    Undergraduate Aggregate Loan Limits $23000

    Dependent=$31000

    Independent=$57500
    Graduate $8500 $12000 $ 20500
    Graduate Aggregate Loan Limits $65500 $138500



  • Federal PLUS Loan Program If you are a dependent student and the financial aid awarded to you is not sufficient to meet your educational costs, your parent may apply for the Federal PLUS Loan Program. Parents may borrow up to the cost of education less any anticipated financial aid. The interest rate on this loan varies, but will not exceed 9%. Eligibility for this loan is not based on financial need. Unless your parent qualifies for a deferment, repayment begins after the loan has been disbursed and extends for up to ten years.

  • Florida Bright Futures Scholarship Program If you are a student graduating from a Florida high school, you may be eligible for the Florida Bright Futures Scholarship Program. These awards are not made based on financial need and are for undergraduate enrollment. The Florida Academic Scholars receive the average amount of tuition costs at a Florida state university, along with a book allowance for $600. The Florida Merit Scholarship and the Florida Vocational Gold Seal Scholarship provides 75% of the tuition costs at a Florida state university. Details on eligibility and applications should be obtained from your high school guidance counselor. Continuing students may renew your aid provided that the renewal criteria have been met.

  • Florida Resident Access Grant (FRAG) The State of Florida provides assistance to Florida residents, who are undergraduate students and attend a private college within the state of Florida. The Florida Resident Access Grant is not based on financial need. The FRAG award for the 2008-2009 award year is $2837. You may renew these grants by completing 24 new credit hours and maintaining a 2.0 cumulative grade point average.

  • Florida Student Assistance Grant (FSAG) Saint Leo University awards the Florida Student Assistance Grant to undergraduate full time students based on fund availability and financial need. Funds are limited, so act quickly. You may receive an award up to $1,808 per academic year, which may be renewed.

  • Alternative Payment Plans Saint Leo University offers a Personalized Plan for paying your college bill. For further information contact: Payments Plans Finance and Accounting MC2097 Saint Leo University P.O. Box 6665 Saint Leo, Florida 33574-6665 Toll Free: (877) 375-2346 Various lenders offer alternative loan programs, which are not supported by federal subsidies. These loans usually have a higher interest rate or higher origination fees than the federal loan programs. However, they can be convenient for families not wishing to apply for financial aid.


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