College for Women Financial Aid Award Guide

FINANCIAL AID

GUIDE 2024-2025

WHAT’S INSIDE: • Sources of Financial Assistance • Understanding Aid and Costs • Maintaining Eligibility

HELPING YOU

INVEST IN YOUR EDUCATION Your 2024-2025 financial aid notification is a list of resources that can help you finance your St. Catherine University education. Your offer is based on the information you supplied on the Free Application for Federal Student Aid (FAFSA). We have considered you for all available assistance. Below please find the sources of aid you may be eligible to receive.

WHAT IS A GRANT? Grants are based on financial need.

Grants do not need to be repaid.

SOURCES OF FINANCIAL ASSISTANCE ST. CATHERINE SCHOLARSHIPS Scholarships are offered on the basis of academic merit or talent.

Most merit scholarships are offered to entering students at the time of admission to the University. The selection process for named scholarships is directed by the wishes of the donor of the scholarship. Students must be enrolled full time to receive St. Catherine scholarships.

ST. CATHERINE GRANT This grant is offered on the basis of financial need, enrollment status, housing choice, and academic record.

FEDERAL PELL GRANT Federal Pell Grants are offered to undergraduate students on the basis of financial need. There is a lifetime limit of 12 full-time semesters of eligibility. Pell Grant is prorated on a per-credit basis for any enrollment of less than full time.

SEOG GRANT The Federal Supplemental Education Opportunity Grant (SEOG) is offered to undergraduate Pell Grant recipients who demonstrate exceptional financial need. It is subject to availability.

MINNESOTA STATE GRANT The Minnesota State Grant requires Minnesota residency and is limited to receipt of grant funding equivalent to six full time years of enrollment at any post-secondary school. A full offer is based on 15 or more credits per semester. Offers are reduced on a percredit basis. January term credits will be added to spring semester enrollment. The amount is estimated until the Minnesota Office of Higher Education finalizes the eligibility formula and confirms the student’s eligibility each year.

TUITION REMISSION Students who are eligible to receive tuition benefits through their (or their parent’s) employer must complete the paperwork each term as required by their human resources department.

OUTSIDE SCHOLARSHIPS Scholarships from outside sources are applied to the student’s account when they are received, and only in accordance with the donor’s instructions.

LOW-INTEREST STUDENT LOANS (FEDERAL DIRECT, NURSING) Low-interest student loans are offered on the basis of student eligibility. You will be automatically considered for the best loan available. We encourage you to borrow only the minimum necessary to cover your educational expenses. You must complete the application process for these loans, which includes Loan Entrance Counseling, Master Promissory Notes, and a Loan Authorization. Instructions on how to apply for these loans are included in this packet and also online at stkate.edu.

FEDERAL DIRECT PARENT PLUS LOAN Federal Direct Parent PLUS Loans are available to parents who wish to borrow in their own names to help finance their student’s education. Parents must complete the Federal Direct Parent PLUS Loan Request and Credit Authorization form and a Master Promissory Note. Requires a credit-worthy borrower. Repayment begins while the student is in school. Instructions on how to apply for this loan are included in this packet and also online at stkate.edu.

STUDENT EMPLOYMENT The work-study amount is an estimate of your earning potential during the academic school year. This amount does not guarantee job placement or a minimum number of hours. Students generally work between six and 15 hours per week to meet their earning goal. The basic wage for new students begins at $15.57 per hour and is subject to federal and state income taxes, but is not subject to FICA tax. Students are paid on a biweekly basis. Additional information on student employment can be found in the student employment brochure in your aid packet.

St. Kate’s

UNDERSTANDING YOUR

AID & COSTS

AID NOT LISTED You are required to report any outside funding. If you are a recipient of veteran’s education benefits, scholarships or grants from a social service agency, tribe, club, foundation, or organization not listed on this financial aid guide, please submit the Outside Aid Form at stkate.edu, and we will modify your aid.

If adjustments are required, we may reduce need-based loans, student employment, and St. Catherine University grants.

ESTIMATED AID All non-institutional aid is estimated until the funds are received and disbursed to your account. We assume you have made or will make proper application to the funding sources. It is fully your responsibility to do so. The University will not offer any replacement funds if you fail to complete the process in time.

CALCULATING YOUR COST TO ATTEND Your aid offer was designed for you based on a full-time credit load and the housing choice you provided. Now that you know the funding available, you must determine if the funds offered, when combined with your family resources, enable you to continue your education. Complete the enclosed Cost Estimation Worksheet to calculate the portion of expenses you will need to pay out-ofpocket or through other resources.

PAYING YOUR COLLEGE BILL Preliminary account information will be available to you electronically prior to the beginning of each term. This billing statement will provide an itemized listing of all charges for your classes, housing and meal plan, as well as a listing of classes for which you are registered.

It will also indicate the anticipated financial aid that will be credited to your bill. Keep in mind that the aid amounts listed are subject to change if your enrollment plans or housing choices change, or if you have received additional resources that were not considered when your aid offer was prepared. In addition to the eBill, you will have access to view your current account status via My St. Kate’s any time throughout the term.

Each month, Student Accounts will create a new billing statement for students who have a balance due, and notify them via their official St. Kate’s email. Students should compare this billing statement, which is a snapshot of their account, to their KatePay account to view recent payments and credits applied after the billing statement was created.

REQUIRED FORMS All students must complete the Payment Agreement and Initial Disclosure form annually before the start of the academic year.

Additionally, the Title IV Authorization form may be completed and submitted one time by financial aid applicants to allow for the application of financial aid toward ineligible charges, such as

parking or the bookstore, on your student account. Both forms are available electronically via My St. Kate’s.

offers Money Management — a free, award-winning program — to all enrolled students.

Payment of all charges for each session must be made in accordance with the Payment Agreement and Initial Disclosure.

Payments may be made by mail, online at stkate.edu, or at the Student Accounts window on the second floor of Derham.

St. Catherine University offers the following payment options: STANDARD PAYMENT OPTION Payment is due in full by the first day of classes of each term.

Students who do not pay in full by the first day of classes will automatically incur a 1% finance charge on any unpaid balance after the grace period, and each month afterward at the end of the month.

THREE OR SEVEN INSTALLMENT TUITION PAYMENT PLAN Students who wish to pay their tuition balances over time may enroll in the Three or Seven Installment Tuition Payment Plan. For an enrollment fee of $50 — which is waived if automatic payments are set up — students will have their balance due spread out over seven equal payments throughout that semester and will not be charged any finance fees. Students will also receive email notices when payments are due and receive new payment disclosures from Student Accounts when their balance increases or decreases due to a change in charges (i.e. adding or dropping a class).

Students need to sign up each semester that they wish to use the Three or Seven Installment Tuition Payment Plan.

BOOKSTORE CHARGE ACCOUNTS The University will allow any student in good financial standing to charge textbooks to their student account when purchasing through the St. Kate’s Virtual Bookstore. Call the bookstore at 651-690-6729 or visit stkatebookstore.com for further information.

DISBURSEMENT All funds are credited directly to your student account proportionately per academic term unless the funding source stipulates otherwise. Any paper check loan funds must be endorsed in the Student Accounts office within 30 days of the date of the check.

REFUNDS Refunds are issued from Student Accounts approximately 10 days after financial aid has disbursed to your student account, resulting in a credit balance. All student refunds will be electronically deposited into the bank account of your choice. Direct deposit can be set up through KatePay. STUDENT STATUS Your aid offer is based on a full-time credit load and your housing choice. Please notify us if your enrollment plans or choice of residence change, and we will modify your aid. College for Women students must be enrolled for at least 12 credits to be eligible for most types of aid. (continued on back page)

INFORMATION ABOUT

MAINTAINING ELIGIBILITY In determining your credit load, you cannot include courses for which you did not register at the St. Catherine Registrar’s Office, nor any audits, non-credit classes, College Level Examination Program (CLEP) or Credit for Academically Relevant Learning (CARL) coursework. St. Catherine January term classes are counted as part of s­ pring term registration.

SATISFACTORY ACADEMIC PROGRESS The Financial Aid Office measures academic performance and enforces Satisfactory Academic Progress standards to ensure that financial aid recipients progress toward completion of their degree or certificate program.

To demonstrate Satisfactory Academic Progress, a student’s academic performance must meet both a qualitative component, a minimum 2.0 cumulative grade-point average (GPA), and a quantitative component, measured by a minimum cumulative 67% credit completion (the ratio between attempted and passed credits) and maximum time frame to complete the degree or certificate program within 150% of the published program length.

Academic progress will be measured each term. If you have not met the standards mentioned above, you will be placed on financial aid warning status the subsequent term. Students with this status are eligible for financial aid. If you complete the warning term with a cumulative GPA of at least 2.0 and a cumulative credit completion of at least 67%, you will be removed from warning status. If your cumulative GPA and/or credit completion rate remain below the minimum standards, you will be suspended from financial aid. While on financial

aid suspension, students are not eligible for federal, state, or institutional financial aid. A student may appeal her suspension based on documented special circumstances or after achieving the minimum cumulative standards. For a complete policy, please contact the Financial Aid Office.

CHANGES IN YOUR SITUATION Please contact the Financial Aid Office if your family’s financial situation changes, and we will reevaluate your financial aid offer.

WITHDRAWAL Financial aid recipients who withdraw or take an approved leave of absence from school during the semester are subject to a recalculation of their aid eligibility. Federal regulations require the school to adjust a student’s aid based on several factors, including the date of withdrawal and the amount and type of aid disbursed.

Detailed information outlining the Financial Aid Withdrawal Policy is available by contacting the Financial Aid Office.

APPLYING FOR FUTURE FINANCIAL AID You must apply for funding annually within the published deadlines. Renewal is based on satisfactory academic progress, continuing financial aid eligibility, and the availability of funding.

Every effort is made to renew funding for continuing students. All student aid programs are subject to changes in regulations and/or appropriations. Most financial aid programs are designed to assist students with the first four years of undergraduate study. A student requiring additional years of schooling may exhaust eligibility before program completion.

Federal and state guidelines and St. Catherine University policy govern the information provided above. These guidelines and policies are subject to change.

Please contact us for the most current information. A comprehensive aid guide is available for enrolled students at stkate.edu/fapolicies.

QUESTIONS? We look forward to working with you, and invite you to contact us any time you have questions about your financial aid offer or financing your education. ffice of Admission F-2 O St. Catherine University 2004 Randolph Avenue St. Paul, MN 55105 651-690-8850 or 1-800-656-5283 admissions@stkate.edu © 2023 St. Catherine University 01-008-1223

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