Need-based Financial Aid

The College of Saint Benedict and Saint John's University have a long tradition of educating students from all economic backgrounds. Financial aid is available to students who qualify based on the results of the Free Application for Federal Student Aid (FAFSA) and the CSB/SJU Financial Aid Application. The following are examples of aid available:

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Grants

All grants are awarded to students based on financial eligibility as demonstrated by the family's information on the Free Application for Federal Student Aid (FAFSA).

Grants

Yearly Amount

Qualifying Information

CSB and SJU Grants

Varies

All grants are awarded to students based on financial eligibility as demonstrated by the family's information on the Free Application for Federal Student Aid form (FAFSA).

 

 

* To be considered for the TEACH Grant, students must be completing or planning to complete the coursework necessary to begin a career in teaching. See other qualifying information.

Federal Pell Grants

$555 - $5,645

Federal SEOG Grants

$500 - $4,000

Minnesota Grants

$100 - $9,050

TEACH Grant* $4,000 a year (renewable)

 

Student Employment

Students who work through the CSB/SJU Student Employment Program gain valuable skills and earn money to assist in paying for college. Students generally work 5-10 hours per week. Priority consideration is given to students with financial eligibility as demonstrated by the Free Application for Federal Student Aid.

Student Loans

CSB and SJU students are eligible for all major federal and state student loan programs. These programs include:

Need-based Loan Programs:

Name

Loan Maximum

Interest Rate

Repayment Terms

Federal Perkins Loan

Up to $4,000/year

Interest-free while enrolled at least half-time; 5% interest rate during repayment

Nine months after college enrollment ends

Federal Direct Loan (Subsidized) 

First year: $3,500
Second year:
$4,500
Third & Fourth years: $5,500

Interest-free while enrolled at least half-time; 6.8% interest rate during repayment

Six months after college enrollment ends

Available to all students and parents regardless of family income:

Name

Loan Maximum

Interest Rate

Repayment Terms

Federal Direct Loan (Unsubsidized)*

First year: $5,500*
Second year:
$6,500*
Third & Fourth years: $7,500*

6.8% rate during in-school and repayment

Six months after college enrollment ends

Federal Parent Loan for Undergraduate Students (PLUS)

 

Cost of education minus other aid

7.9%

60 days after loan is disbursed

Private Student Loans (MN SELF Loan, Bank of ND DEAL Loan, Wells Fargo Loan)

Varies

Interest rates and fees are determined by  the lender.

These loans are taken out by the student with a credit worthy cosigner.  The FastChoice web site provides additional details and loan comparisons for these private educational loans.

*Federal Direct Loan (unsubsidized) maximums will be reduced by any loan taken through the Direct Loan (subsidized) program.