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Types of Financial Aid
St. Norbert College administers financial aid funds from federal, state and institutional sources. These funds are in the form of scholarships, grants, student employment and loans. Scholarships and grants are known as gift assistance since they do not have to be earned or repaid. Student employment and student loans are known as self-help. Most financial aid packages include a combination of gift and self-help assistance. However, students who already possess an undergraduate degree may only apply for self-help assistance. Scholarships St. Norbert College Scholarships or Scholarships outside of the college Grants St. Norbert College Grant Awarded to students with financial need who do not receive adequate grant assistance from other sources and have demonstrated an ability to succeed at St. Norbert College. Amount varies each year depending on financial need. Federal Pell Grant This grant is available to undergraduate, U.S. Citizens or permanent residents who demonstrate exceptional financial need. The amount varies per year. Federal Supplemental Education Opportunity Grants (SEOG) Undergraduate, U.S. Citizens or permanent residents enrolled for at least 1½ credits per term will be considered for this grant. It is based on financial need and ranges from $100 - $2,000 per year. Bureau of Indian Affairs Grant The amount of this award varies each year depending on financial need. It is available to U.S. Citizens who are at least 1/4 American Indian enrolled for at least 1½ credits per term. Renewable for up to five years. Students should contact their Indian tribe for application materials. Wisconsin Tuition Grant This award is available to undergraduate, U.S. Citizens and permanent residents of Wisconsin enrolled for at least 1½ credits per semester who meet state eligibility requirements. Amount varies each year depending on financial need, the maximum award is $2,900. Talent Incentive Program Freshmen, U.S. Citizens and permanent residents of Wisconsin enrolled for at least 1½ credits per semester who meet state eligibility requirements will be considered for this award. Amount varies each year depending on availability of state funds and financial need, with a maximum of $1,800 for freshmen and a maximum of $1,200 for sophomores, juniors and seniors. Wisconsin Indian Grant U.S. Citizens who are residents of Wisconsin and American Indians enrolled for at least 1½ credits per semester will be considered for this grant. The amount varies each year depending on financial need with the maximum grant being $1,100. Students must prove American Indian heritage. Renewable for up to five years. Federal Loans Federal Perkins Loan U.S. Citizens or permanent residents enrolled for at least 1½ credits per term will be considered for this federal loan. It is based on financial need. Loan limits are $3,000 annually; $15,000 aggregate for undergraduates. Federal William D. Ford Direct Subsidized Stafford Loan A loan based on financial need available to U.S. Citizens or permanent residents enrolled for at least 1½ credits per term. Loan limits are $3,500 for 1st year; $4,500 for 2nd year; $5,500 for 3rd and 4th years; maximum of $23,000 for the entire undergraduate program. Repayment of principle and interest begins 6 months after borrower ceases to be enrolled for at least one and a half courses. The interest rate is variable with a maximum of 8.25%. A loan origination fee is deducted proportionately from each loan disbursement. The combination of subsidized and unsubsidized Federal Stafford Loans for a borrower may not exceed the annual & aggregate limits for loans under the Federal Stafford Loan program. Federal William D. Ford Direct Unsubsidized Stafford Loan A loan that is available to U.S. Citizens or permanent residents enrolled for at least 1½ credits per term. Students do not have to demonstrate financial need to receive this loan. Loan limits are $3,500 for 1st year; $4,500 for 2nd year; $5,500 for 3rd and 4th years; maximum of $23,000 for the entire undergraduate program. The combination of subsidized and unsubsidized Federal Stafford Loans for a borrower may not exceed the annual and aggregate limits for loans under the Federal Stafford Loan program. Interest accrues while the student is in school. Repayment of principle begins 6 months after borrower ceases to be enrolled for at least one and a half courses. The interest rate is variable with a maximum of 8.25%. A loan origination fee is deducted proportionately from each loan disbursement. Federal William D. Ford Direct Plus Loan Parents of dependent, undergraduate students may borrow up to the total cost of education minus other financial assistance through this loan program. Repayment begins within 60 days after the loan is disbursed. The interest rate is variable with a maximum of 9%. A loan origination fee is deducted proportionately from each loan disbursement. Contact the Financial Aid Office to apply. Other Programs Army ROTC Three and four year ROTC scholarships are available to qualifying recipients. In addition, the College provides free room and board for all new ROTC recipients (free room is for room charges only and does not cover utility charges or other associated room costs). Free room and board benefit applies to on-campus housing only. The College does not waive tuition charges for recipients who take extra courses above a regular full-time load. For more information regarding Army ROTC scholarships at St. Norbert College contact the Financial Aid Office. Division of Vocational Rehabilitation Students with physical or mental handicaps may apply for grants through their local DVR office. Amount varies depending on financial need. Student Employment All St. Norbert students are welcome to work on-campus. Available positions are posted on the Financial Aid web site. Depending on your financial need you will either be assigned Federal Work Study or St. Norbert College Regular Employment. Federal Work Study is employment that is based on financial need. The amount varies depending on hours worked and rate of pay. Consequently actual earnings may or may not equal awarded amount. Employment is generally on campus but may be performed in a community service job off campus. St. Norbert College Regular Employment is not need based and the amount varies depending on hours worked and rate of pay. Consequently, actual earnings may or may not equal awarded amount. Employment is on campus. |
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Financial Aid Phone: (920) 403-3071 |