Saint Martin's University Financial Aid - English

Financial Aid

Your Guide to Financial Aid at Saint Martin’s University

Worried about affording a private college?

With a student body of 1349 undergraduate students and an average $15 million dollars in scholarships given to students each year, you do the math! Many students think private colleges cannot be affordable, but are surprised when they see their financial aid award.

Total Investment (Based off of costs for the 2015-2016 year)

$45,456

$10,700 Room and Board

(what shows up on your bill)

$34,756

“Sticker Price”

Tuition and Fees

$22,079

Average “Net Price” (the average of what students are actually paying)

Part of our commitment to affordability, Saint Martin’s offers merit scholarships to all admitted domestic students.

Payscale recently rated Saint Martin’s University #1 for Return on Investment in Washington State.

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Saint Martin’s was ranked #7 for best value private Did you know? college in the West by US News and World Report.

Still not convinced?

See what real students have to say:

www.stmartin.edu 3

Your Education: An Investment Fall and spring undergraduate full-time budget (12-18 credits/term) On Campus

Off Campus

TUITION*

$33,950

$33,950

ROOM + DEPOSIT

$5,450

$7,400

$5,450

$1,900

$606

$250

$45,456

$43,500

(mid-level rate; varies by room type)

MEALS (mid-level rate; varies by meal plan)

UNIVERSITY FEES TOTAL

*Professional tuition surcharge of $60.00 per credit for engineering, computer science, business, and nursing classes.

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Looking at the cost of college can be intimidating, which is why Saint Martin’s commits to making our education as affordable as possible. This is why all domestic transfer and first-year applicants receive automatic scholarship consideration when they apply for admission.

Freshman Scholarships* Standardized Test Scores

*anticipated annual award based on standardized test scores and unweighted cumulative GPA

RSAT

(1600 Scale)

SAT

(2400 Scale)

ACT

1600-1290

1280-1150

1140-1110

1100-1060

1050-940

930 -

2400-1810

1800-1580

1570-1510

1500-1440

1430-1270

1260 -

36-28

27-25

24-22

21-20

19-11

10 -

GPA $17,500 Chancellor’s Scholarship

$17,500 Chancellor’s Scholarship

$16,000 President’s Scholarship

$16,000 President’s Scholarship

$15,000 Dean’s Scholarship

$15,000 Dean’s Scholarship

$17,500

$16,000 President’s Scholarship

$16,000 President’s Scholarship

$15,000 Dean’s Scholarship

$15,000 Dean’s Scholarship

$12,000 Faculty Scholarship

Scholarship

$16,000 President’s Scholarship

$15,000 Dean’s Scholarship

$15,000 Dean’s Scholarship

$12,000 Faculty Scholarship

$12,000 Faculty Scholarship

3.39-3.0

$16,000 President’s Scholarship

$15,000 Dean’s Scholarship

$15,000 Dean’s Scholarship

$12,000 Faculty Scholarship

$12,000 Faculty Scholarship

$8,000 University Grant

2.99 -

$15,000 Dean’s Scholarship

$15,000 Dean’s Scholarship

$12,000 Faculty Scholarship

$12,000 Faculty Scholarship

$8,000 University Grant

$8,000 University Grant

4.0-3.87

3.86-3.51 Chancellor’s Scholarship $16,000

3.50-3.40 President’s

Transfer Scholarships*

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

*anticipated annual award based on unweighted cumulative GPA of all college work www.stmartin.edu 5

A college education is an investment with endless returns and value.

Students typically make that investment through a combination of the following types of aid: Grants and Scholarships

Federal and Private Loans

Grants are considered gift aid because they do not have to be paid back; these grants are need-based and eligibility is determined with the use of FAFSA or WASFA results.

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 rates offered by loan providers, and make sure to consult with Financial Aid in order to find the best options.

Federal loan eligibility is determined through FAFSA results.

Saint Martin’s University also offers many institutional grants and scholarships to students each year.

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:

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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.

OCTOBER

JANUARY

Submit your application for admission

File your FAFSA or WASFA

AUGUST 1 Admission application available for upcoming Fall term

OCTOBER 1: FAFSA available for upcoming academic year

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

MAY

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

Did you know?

Tuition payments are billed at the beginning of each semester, Fall and Spring. www.stmartin.edu 7

Kendal Seeman ’16 BA in Educational studies and Communications

“When I received my financial aid award from a public university and from Saint Martin’s it was less expensive for me to attend SMU than the public college!

I was so excited to be able to attend a small, private college!”

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Paying the Balance Payment Plans If you or a family member can help pay for tuition, but not all at once, SMU offers monthly payment plans through TMS (Tuition Management Systems). For more details check out www.stmartin.edu/admissions-aid/financial-aid/ billing-repayment-and-refunds

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. More information is available at www.stmartin.edu/admissions-aid/financialaid/student-loans/private-loans

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

DID YOU

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

February 15 in order to adjust merit scholarships.

www.stmartin.edu 9

Looking for other scholarships?

Saint Martin’s University has you covered. Here is just a short list of the many scholarships that Saint Martin’s offers annually to incoming students: Benedictine Institute Scholarship

The Benedictine institute scholarship is a scholarship valued at $40,000 over four years that is awarded annually to ten students. Candidates must be seniors in high school at the time of application for admission, and are selected to interview based on academic achievement, leadership, and service.

Abbot Scholarship

The Abbot Scholarship is a full-tuition scholarship awarded annually to four seniors graduating from a Catholic high school in Washington State.

Scholarship is need-based, student must complete an interview process and qualify for the Pell grant.

Parish Youth Leaders Scholarship

Alumni and Friends Award

If an alumni or current student of Saint Martin’s University submits a recommendation for a new applicant through the Alumni & Friends form before February 15, the applicant is eligible to receive this $1,000 award. Renewable.

Phi Theta Kappa

This annual $1,000 scholarship is awarded to Lacey main 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. Renewable.

Students who are leaders in their Catholic youth organizations are eligible for an annual $2,000 scholarship. Students cannot receive both the Parish Scholarship and the High School Award.

A letter of recommendation from a parish pastor or youth group coordinator is required.

Renewable.

Washington All-Academic Team Scholarship

Catholic High School Award

Want the complete list?

Go to www.stmartin.edu/scholarships

Applicants graduating from a Catholic high schools are eligible to receive this $2,000 annual award. Renewable.

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Any applicant who is a member of the All Washington Academic Team at their community college prior to transferring is eligible for this $3,500 award, including Running Start students.

Proof of membership is required. Renewable.

Mc Erl A. ’20 English

My mother is a single parent with two jobs to make ends meet. Scholarships, grants and loans were the only ways that can help me pay off college … The scholarship makes it possible for me, an immigrant, child of a single parent to achieve my “American Dream.”

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.

Office of Admission 5000 Abbey Way SE , Lacey, WA 98503 • Phone: 360-438-4596 • Text: 562-412-6189 www.stmartin.edu 10/16