Determining Financial Need
Tuition and Fees
Cost of attendance is generally based on full-time enrollment for two semesters, i.e., academic year, to determine financial need. Students attending the Center for Online Learning and Educational Centers Cost of Attendance are also based on two semesters. One semester contains two eight week terms.
A financial aid recipient is assigned a student budget (i.e., cost of attendance) based on location (on campus, education center, or online), academic program, and living arrangements. The budget includes tuition, required fees, books and supplies allowance, travel allowance, living allowance, and personal expense allowance.
Expected Family Contribution (EFC)
To receive a federally computed Expected Family Contribution you (and your parent(s)' or spouse, if applicable) complete the Free Application for Federal Student Aid (FAFSA®) and submit it to the U.S. Department of Education’s federal processor. Given the income, asset, and household information provided, an expected family contribution (EFC) is computed using a federally mandated formula (i.e. Federal Methodology). Saint Leo University Student Financial Services uses the FAFSA® data received from the federal processor to determine:
- Your dependency status.
- Your (and your spouse, if married) contribution from your earnings.
- Your (and your spouse, if married) contribution from your assets.
- Your (and your spouse, if married) other resources.
- Your parents' contribution from their resources (if you are a dependent student).
How Financial Need is Calculated
Saint Leo University Student Financial Services will award need-based aid up to the student's financial need. A student's need-based aid eligibility is computed by subtracting the Expected Family Contribution (EFC) from the Cost of Attendance (COA).
Cost of Attendance (COA)
- Expected Family Contribution (EFC)
In addition, if there is remaining aid eligibility, non-need based aid is awarded up to the cost of attendance, including replacing the EFC.
A financial aid package may include a combination of federal, state, institutional, and external scholarships, grants, work-study, and/or loan. The actual amount of aid offered depends on the student's eligibility and the total amount of funds available. The award may be less than 100% of a student's financial need.
Review the list of financial aid eligibility requirements include eligible academic programs, academic years, enrollment status and more. Get started with your financial aid application today!
Financial Aid Verification
Verification confirms through documentation review that the information provided on a student’s Free Application for Federal Student Aid (FAFSA®) is accurate. Students are randomly selected for verification by the Department of Education or if conflicting information is presented. The verification process prevents ineligible students from receiving aid if they are found to be reporting false information. It also ensures that eligible students receive all of the aid for which they are qualified.
Students selected for verification are notified by email that additional documents are needed. This email will be sent to students’ Saint Leo email addresses only.
Student Financial Services will review the submitted documentation and make changes as necessary. The student should refrain from making additional changes unless instructed by the Student Financial Services Office.
Note: Click on the Financial Aid Forms tile
|When a student is selected for verification, an email is sent to the student’s Saint Leo University email address or the preferred email address on file. This email will explain how to set up an account in Financial Aid Forms. Setting up an account is quick and easy!|
|Deadlines||All financial aid applicants selected for verification must complete the process prior to the deadline published in the appropriate Federal Register. Students should review the appropriate policy (below) and anticipate submitting all verification documents two weeks prior to the deadline published in the policy in order to ensure their verification can be completed and financial aid processed prior to that deadline.|
Saint Leo University students accept and decline their financial aid awards online through login.saintleo.edu
Students must follow the steps below to accept their federal student loans.
- Sign in at login.saintleo.edu
- Click on “Student Self Service” tile
- On the home page, select “Financial Aid”
- Select the correct Award Year
- Click on link “Review and accept your Financial Aid Award Package”
- Click link to accept awards
Students can change the amount of an award initially accepted or request the reinstatement of a declined award by completing the appropriate financial aid form and returning it by fax or email. Reinstatement of campus based federal aid or Federal Work Study will depend on the availability of funding.
Direct Loans require an acceptance decision by the aid recipient before aid can be processed.
Students who applied for financial aid and have not received a financial aid award should check for the following:
- Did you file the FAFSA for the correct aid year?
- Did you list the Saint Leo University's federal school code 001526 on your FAFSA application?
- Did the Student Financial Services Office send you an email or letter requesting information after you filed your FAFSA?
- Do you have missing documents in eLion under My Documents?
- Did you send requested information back to the Student Financial Services Office?
- If your FAFSA was "rejected", did you do what you needed to fix it?
- Are you matriculated in a degree program?
- Do you have an email address to access login.saintleo.edu?
- Does your email spam filter block email messages from Saint Leo University?
- Do you have the correct permanent address listed for yourself on login.saintleo.edu?
- Did you receive a letter regarding "Satisfactory Academic Progress"?
Please be sure to check your login.saintleo.edu account after you accept your financial aid award.
How Are Funds Disbursed?
Student aid is awarded and disbursed by academic term/semester. Saint Leo University begins disbursing aid ten days after the first day of the term/semester, assuming all requirements are met. Once financial aid has disbursed to a student account, if applicable, a refund is processed within 14 days.
Saint Leo University has partnered with BankMobile to deliver refund money owed to students. New students will receive a Refund Selection Kit from BankMobile in the mail. If you are not sure that Saint Leo University has your current mailing address, please take a moment to visit login.saintleo.edu to update your address information today.
For information about BankMobile refund processing and refund choices, visit the BankMobile website.
Please note: A student must maintain financial aid eligibility for an award to be disbursed and a refund generated.
View Saint Leo University’s contract with BankMobile, a Division of Customers Bank.
Processes and Policies
|Processes and Policies||Description|
|Free Application for Federal Student Aid (FAFSA®)||Saint Leo University’s encourages all students to electronically file a Free Application for Federal Student Aid (FAFSA®) to determine eligibility for student aid assistance from federal, state, and private sources.
Be sure to enter Saint Leo University’s federal school code – 001526 when you file your FAFSA®.
Start your application here https://studentaid.ed.gov/sa/fafsa
|Verification||Verification confirms through documentation review that the information provided on a student’s Free Application for Federal Student Aid (FAFSA®) is accurate. Students are randomly selected for verification by the Department of Education or if conflicting information is presented. The verification process prevents ineligible students from receiving aid if they are found to be reporting false information. It also ensures that eligible students receive all of the aid for which they are qualified.|
|Satisfactory Academic Progress (SAP)||All students receiving Federal Title IV financial aid, state aid, or Saint Leo institutional aid must adhere to the University’s published policy on satisfactory academic progress. The Higher Education Act as amended by Congress mandates that higher education institutions establish minimum standards of “satisfactory academic progress” for students receiving financial aid. The standards used to judge academic progress include all periods of enrollment, even periods in which the student did not receive federal student aid funds.|
|Financial Aid Appeal Process||Occasionally, unique circumstances influence income for students and/or families. These circumstances have an impact on the ability to pay for college. Utilizing the Special Circumstances form (available in Financial Aid Forms), allows students and/or families to indicate special circumstances that may not be evident on the FAFSA®. Prior year income is used to assess financial need for the upcoming academic year.
Students seeking assistance with their dependency status should contact Student Financial Services to speak with a Student Financial Advisor.