Saint Martin's University Financial Aid Guide 2022

GRANTS

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SCHOLARSHIPS

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LOANS

www.stmartin.edu/financial-aid

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Funding your education

HOW WILL YOU PAY FOR COLLEGE? Most families fall into one of the four following categories:

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Family is paying for college

Student is paying for college

Cost is split between student & family

Completely unsure how to pay

FAMILY

STUDENT

SPLITTING

UNSURE

Funding your education at Saint Martin’s University

AWARDED LAST YEAR TO OUR STUDENTS

At Saint Martin’s we are dedicated to helping you fund your education. www.stmartin.edu/financial-aid

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FINANCIAL AID VOCABULARY What types of aid are available and what does it all mean?

Scholarships and grants Saint Martin’s offers many institutional

grants and scholarships to students each year. Last year we awarded more than $20 million in scholarships! In addition, Saint Martin’s offers grants, also known as gift aid, that students do not have to pay back. Grants are need-based and eligibility is determined with the use of FAFSA or WASFA results.

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 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.

Work-study 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.

Other self-help Self-help includes outside scholarships, jobs

“

My decision to attend Saint Martin’s was based heavily around the scholarship aid I was offered. Thanks to my scholarship, I am able to attend this wonderful school and pursue my dreams.

”

— Prya, Junior, Political Science

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Funding your education at Saint Martin’s University

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 www.fastweb.org

FAFSA: Free Application for Federal Student Aid

A free annual application that students complete in order to apply for federal and state aid. The FAFSA is available beginning October 1 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. For more information visit www.readysetgrad.org/wasfa

$20,765

Average net price*

(the average of what Saint Martin’s students are actually paying after financial aid) *Average will vary for each student

A private education at Saint Martin’s is more affordable than you think.

Tuition....................................................................................$40,210 Room (mid-level rate, varies by room type)......................................$5,970 Meals (mid-level, varies meal plan)...............................................$6,880 University Fees (activity and health center fee) . ..........................$480 Enrollment deposit...............................................................$200 Housing deposit....................................................................$200 Total ......................................................................................$53,940 www.stmartin.edu/financial-aid

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First-year scholarships The following anticipated annual awards are based on a holistic review of applications and unweighted cumulative GPA. GPA 4.0 – 3.75................................................................. $23,000 Chancellor’s GPA 3.74 – 3.5.................................................................. $21,000 President’s GPA 3.49 – 3.0................................................................. $20,000 Dean’s GPA 2.99 – 2.75............................................................... $16,000 Faculty GPA 2.74 – 2.5.................................................................. $13,000 University GPA 2.49 – below........................................................... $5,000 Angus McDonald

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

GPA 4.0 – 3.4 .................................................................. $16,000 Trustee’s Scholarship (invitation only) GPA 4.0 – 3.4 .................................................................. $14,000 Chancellor’s Scholarship GPA 3.39 – 2.86............................................................... $11,000 President’s Scholarship GPA 2.85 – below .......................................................... $8,000 University Scholarship

* S aint Martin’s is now a test optional university. Although we are test- optional, we are still happy to accept and consider SAT or ACT scores as part of your application review. Talk with your admissions counselor about how your test scores can affect your merit award. * B e sure to include any high school activities, awards, clubs, and rigor of your high school curriculum (Honors, AP/IB, college in the high school, etc) on your Saint Martin’s application as merit awards are based on a holistic review of your application.

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Funding your education at Saint Martin’s University

YOUR FINANCIAL AID TIMELINE MAY 1:

OCT. AUGUST 1:

DECEMBER:

• Submit your application for admission

•F inancial aid award letters to be sent to students who have filed their FAFSA/WASFA by November 1.

•A dmission application available for upcoming fall term

AUG.

JAN.

•S ubmit your $200 enrollment deposit to secure your place as a Saint Martin’s student • Saint Martin’s priority deposit deadline. Deposits are nonrefundable after May 1

OCTOBER 1:

JANUARY 1:

• File your FAFSA or WASFA

•C ompare financial aid awards and apply for outside scholarships

•F AFSA available for upcoming academic year

DEC.

• Saint Martin’s priority FAFSA deadline

MAY

Tuition payments are billed at the beginning of each semester, fall and spring. For questions contact Financial Aid at 360-438-4397 or Finaid@stmartin.edu.

www.stmartin.edu/financial-aid

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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: www.stmartin.edu/scholarships Act Six

Family Discount *

Provides leadership training and full-tuition, full-need scholarship for emerging urban and community leaders who want to use their college education to make a difference. (Available to students residing in the Washington State counties of King, Pierce, and Thurston)

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.

Alumni and Friends Award

First Robotics Scholarship

Alumni and friends nominate potential first-year and transfer students who they believe will thrive in and contribute to the Saints community.

This award is a $1,000 per-year, renewable award.

Undergraduate students who have participated on a First Robotics Competition (FRC) or a First Tech Challenge (FTC) Team during high school can apply for one of five $1,000 scholarships, renewable over the course of four years.

Benedictine Scholarship

Legacy Award *

An invitation-only scholarship that is 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.

If your brother, sister, mother, father or grandparent graduated from Saint Martin’s, you may be eligible to receive a $2,000 Legacy award.

Campus Visit Award Prospective students that visit campus either through an Open House or a formalized campus visit are eligible to receive a $500 non-renewable award.

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

Parish Youth Leadership 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

*Students cannot receive both the Parish Youth Leadership Scholarship and the Catholic High School Award. *Students cannot receive both the Family Discount and Legacy Award.

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Funding your education at Saint Martin’s University

HOW WILL YOU PAY 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 Nelnet Payment.

Parent Plus Loan

Credit-based loans funded by the U.S. Department of Education. The PLUS Loan is an optional program for parents who wish to access additional resources beyond what their student alone is eligible to receive.

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

More than 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 www.stmartin.edu/financial-aid www.stmartin.edu/financial-aid

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Jocelyn Bonilla ’21 Business Administration Major aid I receive from “ The Saintfinancial Martin’s helps make my

college education affordable for myself and my family. As the oldest of three other siblings, I am aware of the financial burden attending college can have on families and am thankful that Saint Martin’s offers a range of scholarships to help students achieve their educational goals. Knowing that I attend an institution that is willing to support me financially in order to help me achieve my goals, motivates me to work harder toward earning my degree. My only hope is that one day I can do the same and give back to the campus community that made receiving a higher education a possibility.

”

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Funding your education at Saint Martin’s University

YOUR FINANCIAL AID SCORECARD Hold onto this scorecard and track the financial aid you will be receiving.

Institutional scholarships ❒ ❒ ❒ ❒ ❒ ❒ ❒ ❒ ❒ ❒ ❒ ❒

Amount received

Merit scholarships ❒ ❒ ❒ ❒ ❒ ❒

Act Six Alumni and Friends Benedictine Scholars Campus Visit Award Catholic High School Family Discount First Robotics

Chancellor’s President’s Dean’s Faculty University Angus McDonald

Gala

Amount received

TOTAL

Legacy Parish Youth Leadership Phi Theta Kappa Washington All-Academic Team Scholarship

TOTAL

TOTAL AMOUNT OF SCHOLARSHIPS RECEIVED

www.stmartin.edu/financial-aid

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Ask us 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 w Phone: 360-438-4397 w finaid@stmartin.edu www.stmartin.edu/financial-aid 12

Funding your education at Saint Martin’s University

9/21/FINAL