Undergraduate Catalog Financial Aid
The Ruth Richardson Memorial Scholarship The Richardson Family established this scholarship to honor Ruth Richardson ’86, a 31-year employee of Cabrini College. It is awarded to students in good academic standing who demonstrate financial need and are enrolled in elementary education, early childhood education, or special education programs.
Charles and Delphine Sbarboro Memorial Scholarship This scholarship was originally established in 1985 by Delphine Sbarboro to honor her husband, Charles. Delphine passed away in January 1998 and their children, Delphine Sbarboro Pape ’61 and Charles Sbarboro, decided to endow the scholarship and rename it to honor both of their parents. The scholarship is awarded to a business major and an education major that have financial need.
M. Antoinette Schiesler Memorial Scholarship This scholarship was created in 1996 to memorialize former Cabrini College Academic Dean, M. Antoinette Schiesler, by her husband, Reverend Dr. Robert Schiesler, and the contributions of family and friends. It is awarded to a female student who is of African-American or Hispanic descent. Preference is given to an upperclassman majoring in education, who demonstrates financial need, a proficiency in her studies, a determination to succeed, a maturing sense of self, and well-rounded personality.
Lawrence R. Sedler Memorial Scholarship This scholarship was established in 1971 by Toni Linder in memory of her late husband, Lawrence Sedler, to honor his work as a philosophy professor at Cabrini College. It is awarded to a student majoring in philosophy.
UPS Scholarship The UPS Foundation has provided scholarships to Pennsylvania’s independent colleges and universities through the Foundation for Independent Higher Education (FIHE) for more than 30 years. Cabrini awards the UPS Scholarship to deserving students annually.
STUDENT LOANS Student loans are a form of financial aid that requires repayment of the funds received, usually with interest. Some loans may be in either the student’s or the parents’ name. All loans require a promissory note, and some require a separate application.
time basis. If the loan is unsubsidized, the student is answerable for the interest while enrolled in college. Eligibility for a subsidized Direct Loan is based on financial need as determined by the FAFSA. Federal Direct Loans are charged a one percent origination fee deducted when funds are disbursed. Students are allowed a six-month grace period upon leaving college before making payments on principal. Students borrowing under the Federal Direct Loan Program may borrow $3,500 their freshman year, $4,500 their sophomore year, and $5,500 their junior and senior years. Half-time undergraduate students are also eligible to borrow. Students must complete both a FAFSA and a Master Promissory Note, and Loan Entrance Counseling.
Federal Direct Parent PLUS Loan Federal Direct PLUS Loans are unsubsidized loans that parents of dependent students can borrow to help pay for education expenses. The Department of Education will do a credit check as part of determining a parent’s eligibility for the loan. There is no aggregate limit to PLUS borrowing, although annually the amount is limited to the student’s estimated financial costs minus all other financial aid. Direct PLUS Loans carry a 7.9 percent interest rate. Direct PLUS loans are charged a 4% origination fee deducted when funds are disbursed. Repayment begins 60 days after the last disbursement, and interest is charged during both in-school and out-of-school time periods.
Federal Perkins Loan The Financial Aid Office awards Federal Perkins Loans to students based on a combination of significant need as demonstrated on the FAFSA and the availability of funds. The interest rate for a Perkins Loan is 5 percent, and no interest or principal payments are due until nine month after a student graduates (or drops below half-time status).
Alternative Loans Alternative student loans are offered by banks or lending institutions to help students and parents bridge the gap between the cost of education and the amount of financial aid received. To learn more about these loans, including how to apply, log onto www.cabrini.edu/loans and select “Alternative Loans” from the menu on the left.
Federal Direct Loan
PAYMENT PLANS
There are two types of Federal Direct Loans—subsidized and unsubsidized. Subsidized Direct Loans carry a 6.8 percent interest rate on loans originated on or after July 1, 2012. Unsubsidized Direct Loans carry a 6.8 percent interest rate on loans originated on or after July 1, 2012. If the loan is subsidized, the Federal Government covers the interest for the student while he/she is enrolled in college on at least a half-
The Interest-Free Monthly Payment Option To help you afford education expenses, Cabrini College is pleased to make the services of Tuition Management Systems available to you and your family. Tuition Management Systems’ Interest-Free Monthly Payment Option allows you to spread your education expenses over a 10 or 12-month period for
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