Saint Martin's University Financial Aid Guide 2018-19

A SAINT'S GUIDE TO

FINANCIAL AID GRANTS

u

SCHOLARSHIPS

u

LOANS

Have you and your family had the conversation?

How will you pay for college?

Most families fall into one of the following categories: 1. Family is paying for college 2. Students are paying for college themselves 3. Cost is split between student and family 4. Completely unsure how to pay or where to start

We are here to help . . .

2 Financial Aid

At Saint Martin’s we are dedicated to helping you fund your education.

Saints give with heart.

www.stmartin.edu 3

Many students think a private education is not affordable, but are surprised when they see their financial aid award.

$20,916 Average net price (the average of what Saint Martin’s students are actually paying after financial aid)

At Saint Martin’s TUITION*................................... $36,950 ROOM + DEPOSIT ...................... $5,750

of our students receive financial aid!

(mid-level rate; varies by room type)

MEALS ....................................... $5,896 (mid-level rate; varies by meal plan)

UNIVERSITY FEES ...................... $606 TOTAL COST ............................. $49,202 *Fall and spring undergraduate full-time budget (12-18 credits/term)

4 Financial Aid

Financial Aid 101

Students typically make their investment through a combination of the following types of aid: Scholarships and Grants Saint Martin’s offers many institutional grants and scholarships to students each year. Last year we awarded $20 million in scholarships!

Federal and Private Loans

Loans, whether federal or private, need to be paid back upon graduation (some after completion of a grace period). Pay attention to the repayment options and interest In addition, Saint rates offered by loan Martin’s offers grants, providers, and make also known as gift aid, sure to consult with that students do not Financial Aid in order have to pay back. Grants to find the best options. are need-based and Federal loan eligibility eligibility is determined is determined through with the use of FAFSA FAFSA results. or WASFA results.

Work-Study

Other Self-Help

Work-study is a type of need-based financial aid that students may qualify for based on FAFSA results. Students who receive work-study are allotted a certain amount of money that they can earn through an on-campus (federal work-study) or off-campus (state work-study) job.

Self-help includes outside scholarships, jobs, and financial assistance from family members or friends. Some great resources for finding outside scholarships include clubs, local organizations, your high school counselor or counseling center. For Washington residents: www.washboard.org or fastweb.org

FAFSA: Free Application for Federal Student Aid

Vocab:

A free annual application that students complete in order to apply for federal and state aid. The FAFSA is available at www.fafsa.gov

WASFA: Washington Application for State Financial Aid

A free annual application for students who are ineligible for federal financial aid due to immigration status. More information about eligibility is available at www.readysetgrad.org/wasfa

www.stmartin.edu 5

Undergraduate Merit Scholarships All domestic first-year and transfer applicants will receive automatic merit scholarship consideration upon acceptance to Saint Martin’s!

First-year Scholarships: The following anticipated annual awards are based on a holistic review of applications, standardized test scores and unweighted cumulative GPA.

SAT

0-870

880-940

950-1040

ACT

0-10

11-15

1-20

CLT

0-53

54-64

GPA

65-68

1050-1140

1150-1290

1300-1600

21-23

24-27

28-35

69-75

76-87

88-120

$17,500 Chancellor’s • $16,000 President’s • $15,000 Dean’s • $12,000 Faculty • $8,000 University • $2,000 Angus McDonald

3.87-4.0

$15,000

$15,000

$16,000

$16,000

$17,500

$17,500

3.51-3.86

$12,000

$15,000

$15,000

$16,000

$16,000

$17,500

3.40-3.50

$12,000

$12,000

$15,000

$15,000

$16,000

$16,000

3.0-3.39

$8,000

$12,000

$12,000

$15,000

$15,000

$16,000

2.76-2.99

$8,000

$8,000

$12,000

$12,000

$15,000

$15,000

0-2.75

$2,000

$8,000

$8,000

$12,000

$12,000

$15,000

Transfer Scholarships: The following anticipated annual awards are based on a holistic review of applications and unweighted cumulative GPA of all college work.

GPA 3.4 – 4.0: $11,000 Chancellor’s Scholarship GPA 2.85 – 3.39: $8,000 President’s Scholarship GPA 2.5 – 2.84: $5,000 University Scholarship

6 Financial Aid

Looking for other scholarships?

Here's a short list of the many scholarships that Saint Martin’s offers annually to incoming students. For a complete list of scholarships and details visit: stmartin.edu/scholarships Act Six Provides leadership training and full

scholarships for emerging urban and community leaders who want to use their college education to make a difference.

Alumni and Friends Award Alumni, parents, and

friends of the University nominate potential firstyear or transfer students who believe will thrive in and contribute to the Saints community for a $1,000 per year renewable award.

Benedictine Scholarship Awarded to students

annually in order to explore the meaning and application of Benedictine values. Benedictine Scholars are awarded a $10,000 annual scholarship that is renewable for four years.

Campus Visit Award Prospective students that

visit campus either through an Open House or a formalized campus visit are eligible to receive a $400 non-renewable award. Students must be entering first-year or transfer students for the Fall academic year.

Catholic High School Award* Applicants graduating from a Catholic high school are eligible to receive this $2,000 renewable annual award.

Legacy If your brother, sister, mother, father or

grandparent graduated from Saint Martin’s, you may be eligible to receive a $2,000 Legacy Award.

Parish Youth Leaders Scholarship* Students who

are leaders in their Catholic youth organizations are eligible for an annual $2,000 scholarship.

Phi Theta Kappa (transfers) This annual $1,000

renewable scholarship is awarded to campus students with a minimum GPA of 3.5 and who are transferring with an Associate of Arts, Associate of Science degrees, or junior standing, and who are members of Phi Theta Kappa. Proof of Phi Theta Kappa membership is required. Running Start/ College in the high school students are not eligible.

Washington All-Academic Team Scholarship (transfers) Any applicant who is a

member of the Washington All-Academic Team at their community college prior to transferring is eligible for this $3,500 renewable award, including Running Start students. Proof of membership is required.

Family Discount Undergraduate students who have an immediate family member who is currently enrolled full-time may be eligible to receive a $1,000 Family Discount award per year.

*Students cannot receive both the Parish Scholarship and the Catholic High School Award. www.stmartin.edu 7

Financial aid award letters to be sent to students who have filed their FAFSA/ WASFA

by October 1

Compare financial aid awards and apply for outside scholarships JANUARY 1: Saint Martin’s Priority FAFSA Deadline

Tuition payments are billed at the beginning of each semester, Fall and Spring. For questions contact Financial Aid at 360-438-4397.

8 Financial Aid

MAY

File your FAFSA or WASFA OCTOBER 1: FAFSA available for upcoming academic year

JANUARY

NOVEMBER

Submit your application for admission AUGUST 1: Admission application available for upcoming Fall term

OCTOBER

AUGUST

Your Financial Aid Timeline

Submit your $200 enrollment deposit to secure your place as a Saint Martin’s University student MAY 1: Saint Martin’s Priority Deposit Deadline Please note: Deposits are non-refundable after May 1

Paying the Balance Payment Plans If you or a family member can help pay for tuition, but not all at once, Saint Martin’s offers monthly payment plans through TMS (Tuition Management Systems).

Private Loans Private lenders offer additional loans to students. Make sure to utilize the FastChoice tool on the Financial Aid website to find the best lender for you.

Student employment Over 350 students are employed annually in departments on campus, through Federal work-study programs or student jobs.

For more details regarding payment plans and private loans visit stmartin.edu/financial-aid

DID YOU

KNOW? Saint Martin’s accepts updated test scores and transcripts until

August 15 in order to adjust merit scholarships.

www.stmartin.edu 9

Alex Gonzalez '21 Business Administration Some weeks after I got accepted, I received my official scholarship award, and my dad agreed to send me to Saint Martin’s even though he knew we would struggle to pay.

At Saint Martin’s, I met with financial aid and explained my circumstances. I had to fill out paperwork, but I received more financial aid that helped me stay at Saint Martin’s. I will be forever grateful to the incredible financial aid team. Thanks to them I am able to keep moving forward in my dreams.

10 Financial Aid

Your Financial Aid Scorecard Hold onto this scorecard and track the financial aid you will be receiving.

Institutional Scholarships ❒ Act Six ❒ Alumni and Friends ❒ Benedictine Scholars ❒ Campus Visit Award ❒ Catholic High School ❒ Family Discount ❒ Gala ❒ Legacy ❒ Parish Youth Leadership ❒ Phi Theta Kappa ❒ Sage Scholars Tuition Rewards ❒ Trinity Foundation ❒ Washington All-Academic Team Scholarship

Amount

Merit Scholarships

Amount

❒ Chancellor’s ❒ President’s ❒ Dean's ❒ Faculty ❒ University ❒ Angus McDonald Total www.stmartin.edu 11

Financial Aid

Questions?

We have answers!

Schedule an appointment with your Admission Counselor to talk about your financial options or contact Financial Aid directly at 360-438-4397.

5000 Abbey Way SE , Lacey, WA 98503 • Phone: 360-438-4596 • Text: 562-412-6189 www.stmartin.edu

128/18 Financial Aid