Making Your Education Affordable Payment Plans The University has the option for you to pay for semester balances on a monthly payment plan for 10 months. This semesterbased plan allows you to spread the semester balance due over a five month period. To enroll in a payment plan, fill out the Payment Plan form at saintpeters.edu/paymentplan and submit to the Enrollment Services Center by the payment due date for each individual semester. Please note: Plans do not automatically renew from one semester to another. You must sign-up for a new plan each semester and there is an installment fee per semester due upon sign-up.
State and Federal Financial Aid Programs New Jersey Tuition Aid Grant (TAG): A state sponsored grant available to NJ residents on the basis of financial need. The annual TAG award amounts were not finalized as of publication. Educational Opportunity Fund (EOF): Program for NJ students from educationally and economically disadvantaged backgrounds who demonstrate financial need with an annual award amount of $2, 00. Federal Pell Grant: Need-based award that provides a foundation for many financial aid packages. The average annual Pell Grant to $6, 5. award ranges from $ Federal Supplemental Educational Opportunity Grant (SEOG): For undergraduates who demonstrate exceptional financial need. Priority is given to recipients of Pell Grants with awards up to $1,000 annually. Federal and College Work-Study Programs: Part-time campus employment opportunities allow students to earn money to help meet the cost of education. The Federal Work-Study Program is based on need. The work-study program can be combined with other forms of aid. Federal Stafford Subsidized Loan: Low-interest, need-based loan with interest subsidies provided by the Federal Government. Loan limits vary depending on year in college. Federal Stafford Unsubsidized Loan: Non-need-based loan, no interest subsidy. Students have the option to pay interest while in school or defer interest payments until graduation. Loan limits vary depending on year in college.
Stafford Loans Loan eligibility is determined by the number of credits you have earned at the beginning of the academic year. See the following chart on Federal Annual Loan Limits. Additional Unsub Eligibility Grade Level Cumulative Credits Annual Loan Limit Additional Unsubsidized* 0–29 $3,500 $2,000 $4,000 Freshman 01 30–59 $4,500 $2,000 $4,000 Sophomore 02 60–89 $5,500 $2,000 $5,000 Junior 03 90+ $5,500 $2,000 $5,000 Senior 04 — $8,500 ——— $12,000 Graduate *You can receive an additional unsubsidized loan if you are an Independent Undergraduate or if you parent is ineligible to receive a federal PLUS loan.
To learn more about Stafford Loan requirements, visit www.saintpeters.edu/loans
Financial Aid Terms Cost of Attendance (COA): This is an estimate of your costs to attend Saint Peter’s University for an academic year. This budget includes direct costs that are reflected on your bill such as tuition, mandatory fees, room and board, as well as indirect costs not reflected on your bill such as books, travel and miscellaneous expenses. Expected Family Contribution (EFC): Based on the FAFSA (Free Application for Federal Student Aid), this figure is the result of a complex calculation determined by the U.S. Department of Education and is based on taxable and non-taxable incomes of parents and student, as well as their assets and any other benefits that they may receive. In addition, the number in the family and in college play an important part in the final determination of this figure. Student Aid Report (SAR): This report is generated by the U.S. Department of Education and reflects the information supplied by the student as well as the result of the needs analysis computation, or the EFC. Need Analysis: This is the calculation used to determine a student’s eligibility for financial aid. The need analysis calculation varies based on federal, state and institutional programs. This calculation involves determining the Cost of Attendance at Saint Peter’s University, then subtracting the Estimated Financial Contribution (EFC) as determined by the FAFSA in order to determine financial need. Financial Aid (FA): This represents all the resources available to a student to help pay educational expenses. Financial Aid consists of scholarships which can include institutional, state, federal, grants, private resources, loans and work-study. In order to receive these awards at Saint Peter’s University, the student needs to complete a FAFSA each academic year. Full-Time Status: Full-time status is defined as 12–15 credits per semester in the College of Arts and Sciences/Frank J. Guarini School of Business.
Half-Time Status: Half-time status is defined as a minimum of 6 credits per semester. This is the minimum number of credits that a student can be enrolled in so as to qualify for financial assistance. There are two exceptions to this policy: the Tuition Aid Grant Program (TAG) which states a student must be enrolled full-time in order to receive a grant; and the Pell Grant Program, where a student can be enrolled for less than half-time and receive a prorated grant. Less Than Half-Time Status: Less than half-time status is defined as carrying a course load less than 6 credits per semester. A student carrying less than half-time status is not eligible for aid. (Exception to this is the Pell Grant Program.) Financial Aid Award Letter: This award letter is generated by the Student Financial Aid Office and it lists all aid that has been awarded to a student for an academic year, reflected on a term by term basis. This letter also reflects the COA and the enrollment status on which the aid was calculated. This letter, when returned signed, is the first step in the process to apply for a Stafford Loan. Verification: A student can be selected for verification by the U.S. Department of Education, by the State of New Jersey, or both. Saint Peter’s University is mandated under both federal and state regulations to verify all information reported on the FAFSA. This is done by reviewing tax returns and other documentation requested and comparing it to the information supplied on the application for accuracy. Aid will not be credited until this process has been completed. Revisions: The Financial Aid Award Letter can be revised at any time during an academic year based on changes to the needs analysis (based on verification), enrollment status as well as residency status, or outside scholarships or grants reported during the academic year and not originally reflected.
Value of a Saint Peter’s Education A Saint Peter’s education is transformative. Our students rise above the rest. Jesuit Education: Saint Peter’s is one of 27 Jesuit colleges and universities in the United States dedicated to the development of the whole student. Meaning, a Jesuit education challenges students to question, go beyond their comfort zones, and move out to the furthest frontiers of the imagination to address the greatest needs of our times. Faculty: Our faculty are committed to excellence in teaching and provide students with the individual attention they need to succeed. Many of our full-time faculty have attended top Ph.D. programs and continue to work in their fields as industry experts, researchers, and more. Size: Our small classes give students a caring and supportive environment to learn. With a 13:1 student-to-faculty ratio and an average class size of 22 students, a student is more than a name on a roster. Academic Programs: Small in size but big in opportunities. We offer over 50 majors and you have the option to create your own degree program with the guidance of a faculty member. Location: Being steps from “Wall Street West” in Jersey City and minutes to New York City, gives you the chance to intern at top companies like Goldman Sachs, CNN, NFL and more. Life on Campus: Jersey City is one of the most diverse communities in the country. Our students come from all over the United States and the world. With over 70 student clubs, there’s never a dull moment on campus. Athletics: With 16 teams, we are one of 11 NCAA Division I universities in the Metro Atlantic Athletic Conference (MAAC). Student-athletes are recruited from all over the world and are student leaders both in and out of the arena. Freshman Year: Our Freshman Year Experience helps students adjust to their new environment through programs like: Orientation, Freshman Day and Freshman Seminar, which is taught by your advisor. Alumni Network: Our dedicated alumni are over 25,000 strong. They are leaders in industries such as medicine, government, business and education.
Your Financial Aid Offer The enclosed information was determined using the information you submitted on the Free Application for Federal Student Aid (FAFSA), your intended enrollment information and your resident status. The award letter and the information in this packet provide you information regarding financing your education. Please take note of the following information: •
If you decide to enroll at Saint Peter’s University remember to submit your tuition deposit of $150 to Saint Peter’s University (c/o Office of Admission) no later than May 1st. Resident students must also include $250 housing deposit to secure your place in the residence hall. (Deposits are non-refundable.) While Saint Peter’s will do everything to secure your financial aid award, funds cannot be guaranteed after May 1st.
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Changes to your resident status (resident or commuter) or enrollment status (full-time or part-time), or changes made to your FAFSA based on verification of family income and/or assets may affect your award package. Please contact the Office of Student Financial Aid to discuss potential changes or actual changes so that Saint Peter’s can counsel you on the changes to your award. Unless your FAFSA changes, the combined total of your Saint Peter’s University, state and federal scholarships/grants will not vary, however, the proportion of institutional aid and government aid may change.
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The package created for you by Saint Peter’s University must conform to the scholarship and financial aid policies as published in the University catalog (www.saintpeters.edu). All, or part, of your Saint Peter’s grants and scholarships may be funded through the generosity of donors in the form of annual and/or endowed scholarships. You will be notified by the Office of Student Financial Aid if this occurs, and if there are requirements associated to receiving an endowed scholarship.
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Please contact the Office of Student Financial Aid by phone at (201) 761-6060 with any questions regarding your financial aid package, Saint Peter’s University policies, or financing options.