Financial Aid and Scholarship

How financial aid works

The theory underlying the financial aid system is that parents and students contribute to the cost of college attendance to the extent they are able. If they are unable to contribute the entire amount, financial aid is available to meet the remaining cost.

The basic formula to determine financial aid eligibility or need is:

   What it costs to attend
—  Your family contribution
   ________________________
=  Your financial need

To illustrate the concept, let's assume your family can contribute $5,000 per year, and you are applying to four schools.

Your family contribution stays approximately the same at each school, but your eligibility for financial assistance is greater at a higher cost private college compared to a less expensive public college.

It’s important to keep in mind that students from families of all income levels can demonstrate financial need based upon their particular circumstances. Most students who apply are eligible.

Applying for financial assistance Complete our Application for Admission and Scholarship. In order to receive financial assistance, you must be admitted to St. Mary’s University.

Complete the Free Application for Federal Student Aid (FAFSA), and list St. Mary’s University (code 003623). When you complete the FAFSA online, you must register to receive to receive a PIN, which can be used to electronically sign your FAFSA, or you can print out, sign and mail the signature page to the processing agency. If you register for a PIN, both you and your parent must complete the signature process electronically.

Financial aid applications received by March 31 will receive priority. To meet this deadline, we recommend you submit the FAFSA no later than February 15.

Questions? Contact the Office of Financial Assistance at (210) 436-3141, (800) 367-7868 or finaid@stmarytx.edu.