St. Mary's University
A CATHOLIC AND MARIANIST LIBERAL ARTS INSTITUTION
Financial Assistance

Prospective Students

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:

Cost of Attendance
- Expected Family Contribution
________________________
= Financial Need


It is 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.

Types of Assistance

There are two categories of financial aid awards: gift aid and self-help aid.

Gift aid comes in the form of scholarships and grants, and generally does not need to be paid back unless otherwise specified.

Self-help aid, on the other hand, include student and parent educational loans, which require repayment. Also included in the self-help aid category is Federal Work-Study, which allows undergraduate students to earn a specified amount of money by working a University job.

Scholarships for Freshmen

The Office of Undergraduate Admission awards scholarships to qualified applicants at the time of admission. The academic awards listed below are renewable, are intended to apply to tuition only, and are made primarily on the basis of SAT/ACT test scores and academic performance while in high school.

Academic Scholarships

The Trustees' Scholarship provides a maximum of $15,000 per year ($60,000 total).

The President's Scholarship provides a maximum of $12,500 per year ($50,000 total).

The Bordeaux Scholarship provides a maximum of $9,000 per year ($36,000 total).

The Chaminade Grant provides a maximum of $4,000 per year ($16,000 total).

Special Scholarship Opportunities
The Alumni Scholarship is added to an existing academic award to equal a full-tuition scholarship each year. Recipients must be eligible for scholarships, and receipt of a recommendation from an alumnus is strongly encouraged and given significant weight.

The Greehey Scholars Program is a highly competitive program that guarantees funding for tuition, fees, room, board, books and notebook computer. Students who meet specific academic requirements and declare an intent to enter the Bill Greehey School of Business are invited to apply to this program at the time of admission.

The Honors Program guarantees $20,000 in gift aid per year. Students who meet specific academic requirements are invited to apply to this program.

Funded by the Marianist Trust, the Marianist Leadership Program provides $3,500 per year to students selected for the program. Students must meet specific academic requirements and apply to this program.

Other awards are available based on achievement or specific talents. St. Mary's competes in NCAA Division II athletics. Scholarships are available in 12 sports. Music talent awards are available to music majors and minors. Generous Army ROTC scholarships are available in four-, three- and two-year terms.

We also encourage you to research and apply for additional scholarships outside those offered by St. Mary's. Your hometown, church, school or other private funding sources may have additional funds available.


Scholarships for Transfers

St. Mary's offers transfer scholarships to outstanding applicants for the fall term who have attained at least a 3.0 cumulative GPA in their college course work.

Applications for admission/scholarship are accepted on a rolling basis. However, the priority deadline for the application for admission and scholarship is March 1st. The final deadline to be guaranteed scholarship consideration is June 1st.

President's Transfer Scholarship
College GPA Award Level
3.7-4.0 Up to $10,000 per year
3.4-3.69 Up to $8,000 per year
3.0-3.39 Up to $5,000 per year

Phi Theta Kappa
Enhanced awards are available to high performing members of Phi Theta Kappa in recognition of their achievements at two-year institutions.

College GPA PTK Award Level
3.7-4.0 Up to $13,000 per year
3.4-3.69 Up to $11,500 per year
3.0-3.39 Up to $8,000 per year


Grants
Need-based grant programs help you cover the difference between the cost of attendance and your other resources.

The Federal Pell Grant is available to undergraduate students with the highest level of need (based on FAFSA data). The amount a student receives is also determined by the expected family contribution and the student's enrollment status. Effective July 1, 2012, the maximum number of equivalent full-time semesters a student is eligible to receive a Pell Grant will drop from 18 to 12 semesters or approximately six (6) years for all students. This new limit will apply to all Pell recipients regardless if the student is close to completion or when the student first began receiving Pell Grant funds. Students may view their Pell Grant history and verify their Lifetime Pell Eligibility percentage used by accessing their personal information at the National Loan Data System (NSLDS) at www.nslds.ed.gov , the U.S. Department of Education's central database for student aid.

The Federal Supplemental Educational Opportunity Grant is available to students who qualify for the maximum Pell Grant. Funds are limited and are awarded on a first-come, first-served basis.

Sponsored by St. Mary's University, the Financial Aid Grant is available to undergraduate students. These limited funds are awarded on a first-come, first-served basis.

To be considered for the Tuition Equalization Grant, students must be Texas residents, demonstrate financial need and be enrolled full time. These funds are awarded on a first-come, first-served basis.


Loans

Student loans and payment plans help families who require more assistance in meeting their educational costs. Our financial assistance staff will work one-on-one with you to provide the personal financial solutions that best suit your family.

The interest rate for Federal Perkins Loans is fixed at 5 percent and repayment begins nine months after a student leaves school or drops below half-time status. Priority is given to students with financial need on a first-come, first-served basis. Perkins Loans may be forgiven for students entering the teaching or public justice professions.

Federal Stafford Loans may be subsidized (the government pays the interest while the student is in school) or unsubsidized (interest accrues while the student is in school) and offered at a fixed interest rate of 6.8 percent. Stafford loans are available to students who meet federal eligibility requirements, submit a FAFSA and enroll at least half time in a degree-seeking program.

Students who demonstrate financial needs are awarded the subsidized Stafford Loan, while those with less financial need may be eligible for only part of the subsidized Stafford Loan and may borrow unsubsidized Stafford Loans up to the academic year limit.

For students entering the Armed Forces, Peace Corps, VISTA or other volunteer public service work, Stafford Loan payments may be deferred for up to three years.

College Access Loans are available to Texas resident students (or out-of-state students receiving competitive academic scholarships) with creditworthy cosigners. The loan has a $500 annual minimum, but may not be greater than the cost of education less other aid received. The interest rate is fixed at 5.25 percent and a 3 percent origination fee will be deducted from each disbursement. Pre-approvals and promissory notes may be processed online at www.hhloans.com.

The Federal Parent Loan for Undergraduate Students (PLUS Loan) is available to creditworthy parents who want to borrow a portion or all of the annual cost of education minus other aid offered. Repayment is generally set at small payments on a 10-year plan and begins 60 days after the loan has been fully disbursed to the institution. This federal loan is offered at a fixed interest rate of 8.5 percent.

Alternative loans are private loans available through lending institutions, which offer competitive interest rates, flexible repayment schedules and differing cosigner requirements. Students should pursue all possibilities for scholarships, grants, work-study and federal loan programs before borrowing from an alternative loan program. Most financial institutions have alternative loan programs.

St. Mary s University offers families the opportunity to pay each semester s balance in as many as five monthly payments free of finance charges. To participate, families should fill out a Financial Planning Form (www.stmarytx.edu/businessoffice/).


Federal Work-Study

An on-campus job is also an opportunity to meet new people, learn new skills or discover your buried talents.

To assist students who demonstrate financial need, we participate in the Federal Work-Study Program to provide you with employment.

Annual awards range from $1,500 to $3,000. Most jobs are located on campus and require you to work between 10 and 13 hours per week on average.



How to Apply for Financial Aid

Applying for financial assistance is simple:

1) Apply for Admission.
In order to receive financial assistance, you must be accepted to St. Mary's University. To apply now, click here.

2) Complete the FAFSA (Free Application for Federal Student Aid)
Submit the FAFSA online at www.fafsa.gov and list St. Mary's University (code 003623).

If you complete the FAFSA online, you must register 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. About three days after submitting the FAFSA, you'll receive a Student Aid Report (SAR). It summarizes the information you reported on the FAFSA.

Though you have completed the FAFSA, the process of getting financial assistance is not yet complete. In order to secure financial assistance, you may selected to complete the Federal Verification process. Learn more about the Federal Verification process.

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.

Accepting Your Award

It is easy to accept your financial aid award.

Review the letter detailing your financial aid offer, then sign and return it to us promptly. Once admitted, students can also accept their award on Gateway, the student portal.

In addition, you'll need to choose St. Mary's University by making your enrollment and residence hall deposits, if living on campus. Then, come to the June orientation sessions and register for the fall term (most financial aid programs require full-time enrollment).

Have your circumstances changed since you submitted your FAFSA? Our office may consider these special circumstances for review:
  • Loss of employment
  • Reduction in wages
  • Unusual medical and dental expenses not covered by insurance
  • Death of a parent of student's spouse
  • Divorce or separation
  • Private elementary or secondary tuition expenses
If your family situation is similar, please call us at 210-436-3141 or 800-367-7868 or e-mail us at finaid@stmarytx.edu.

Work-Study Process

An on-campus job doesn't have to be all work (and no play). It's also an opportunity to meet new people, learn new skills or discover your buried talents.

To assist students who demonstrate financial need, we participate in the Federal Work-Study Program to provide you with employment.

About Work-Study

Annual awards range from $1,500 to $3,000 (with a wage of $7.25 an hour). Most jobs are located on campus and require you to work between 10 and 13 hours per week (on average).

A variety of jobs are available, including clerical work, communications assistant, fitness center attendant, lifeguard, office assistant, public services assistant, reference assistant or sports official.

To see a full list of Work-Study descriptions, click here.

In addition, you could choose to participate in the Workers Invested in kNowledge and Growth through Service (WINGS) program. A partnership between St. Mary's University and Americorps, WINGS places students in local nonprofit agencies, particularly in the areas of education, elderly, health care and legal service.



How to Get Started

Getting started with work study is easy! Below are the steps you must take:

  1. Accept your Work-Study on Gateway.
  2. Complete the Work-Study Survey Form and submit it to the Office of Financial Assistance.
  3. Submit the I-9, W-4 and Policy Acknowledgement forms to St. Mary's Office of Human Resources.



How to Change a Work-Study Assignment

Sometimes you need to make a change, and we understand that. To change your job, you will need to submit the Work-Study Termination/Transfer Form to the Office of Financial Assistance.



Work-Study Forms

Cost of Attendance

At St. Mary's University, our tuition and fees are priced below the average for top-rated independent regional universities.

Listed below is a chart of the Estimated Undergraduate Cost of Attendance for one academic year. The Estimated Cost of Attendance, also referred to as the student budget, is our best approximation of what each student at St. Mary's will need to cover direct and indirect expenses. A standard student budget is assigned to every enrolled student. It is important to keep in mind that more than 90 percent of our incoming freshmen receive some sort of financial aid.

To estimate your out-of-pocket costs, please use our Net Price Calculator.

2012-2013 Undergraduate Annual Cost of Attendance

Living On Campus Commuter/Living Off-Campus
Tuition (12-18 hours/term) and Fees $24,226 $24,226
Books and Supplies $ 1,300 $ 1,300
Room and Board $ 8,426 $ 4,000
Transportation $ 1,100 $ 800
Personal $ 1,900 $ 1,600
Total $36,952 $31,926

For more information about Tuition and Fees, please visit the Business Office website.

Determining Your Eligibility

When you submit the FAFSA, the information you report is used in calculating your Expected Family Contribution (EFC). This formula takes many factors into account including your income, your family s income and assets, the size of your family and the number of family members in college.

The EFC represents the amount of money you and your family are expected to be able to contribute to your educational expenses during the nine-month academic year.

How do we determine your eligibility? Your demonstrated financial need is determined by the difference between your cost of attendance and your EFC:

Cost of attendance
- Expected family contribution
_________________________________
= Demonstrated financial need

Your demonstrated financial need is the maximum amount of financial assistance you may be able to receive from need-based funds, which includes federal, state and institutional grants along with scholarships, work-study and federal subsidized loans.

You financial aid is awarded to you based on:
  • Estimated direct educational costs
  • Academic achievement
  • Financial aid application and supporting documentation
  • Allocations of federal, state and institutional funding
  • Enrollment status



Who We Are

A service-oriented, academic and spiritual community boasting a 13-1 student-to-faculty ratio

St. Mary's University Logo
One Camino Santa Maria
San Antonio, Texas 78228
210-436-3011