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 Academic Competitiveness Grant (ACG)
Awarded to first and second year students who are Pell Grant eligible and have completed a rigorous high school curriculum as defined by their state. Second year students must achieve a 3.0 GPA to retain the grant
Federal Supplemental Education Opportunity Grants (SEOG)
Undergraduate, U.S. Citizens or permanent residents enrolled for at least 1½ courses (6 credits) per term will be considered for this grant. It is based on financial need and ranges from $100 - $2,000 per year. There is a limited amount of funds available each year and is awarded to the highest need Pell Grant recipients.
Federal SMART Grant
Awarded to third and fourth year students who are Pell Grant eligible and are majoring in physical, life, or computer sciences; mathematics; technology; or engineering; or in a foreign language determined critical to national security. Students must have a 3.0 or higher GPA to be eligible for this grant.
The Teacher Education Assistance for College and Higher Education (TEACH) Grant
Provides up to $4,000 a year in grant assistance to students who are completing or who plan to complete course work needed to begin a career in teaching. In exchange for the grant, a student must sign an "Agreement to Serve" as a full-time teacher at certain low-income schools and within certain high-need fields for at least four academic years within eight years after completing (or ceasing enrollment) the course of study for which the candidate received a grant. If the grant recipient fails or refuses to carry out his or her teaching obligation, the amounts of the TEACH Grants received are treated as an unsubsidized Stafford Loan and must be repaid with interest
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 courses (6 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 courses (6 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 courses (6 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 one and a half courses (6 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 Stafford Loans
Student loans available to U.S. Citizens or permanent residents. Repayment of principle and interest begins 6 months after borrower ceases to be enrolled for at least one and a half courses (6 credits) per term. The interest rate is variable with a maximum of 8.25%. A loan origination fee is deducted proportionately from each loan disbursement.
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Subsidized Stafford Loan: Students need to demonstrate financial need to obtain this loan.
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Unsubsidized Stafford Loan: Students do not have to demonstrate financial need to receive this loan. Interest accrues while the student is in school. The student will be sent quarterly statements and will have the option of paying the interest as it accrues while they are in school. If the student does not pay the interest as it accrues, the unpaid interest will be capitalized (added to the principal balance).
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.
Loan limits for Subsidized and/or Unsubsidized Stafford Loans are:
$3,500 plus an additional $2000 Unsubsidized Stafford Loan for 1st year
$4,500 plus an additional $2000 Unsubsidized Stafford Loan for 2nd year
$5,500 plus an additional $2000 Unsubsidized Stafford Loan for 3rd and 4th years
Aggregate Loan Limits
$31,000 for a dependent student for the entire undergraduate program.
$57,500 for an independent student (or a dependent undergraduate student whose parents do not qualify for a PLUS Loan). No more than $23,000 of this aggregate amount may be in the form of Subsidized Loan.
Dependent undergraduate students whose parents are denied a PLUS Loan are eligible for an additional Unsubsidized Stafford Loan. $6,000 for 1st and 2nd year students and $7,000 for 3rd and 4th year students.
NOTE: Students whose parents are unable to obtain a PLUS Loan are
NOT eligible to receive the additional $2,000 in additional Unsubsidized Stafford Loan as mentioned above, plus the additional $6,000 or $7,000 in Unsubsidized Stafford Loan as a result of the PLUS Loan denial.
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 the PLUS Loan program. 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 for information on how to apply. Repayment begins within 60 days after the loan is fully disbursed if the parent Direct PLUS Loan borrower does not request a deferment.
Direct PLUS Loan Deferment Information: For Direct PLUS Loans that are first disbursed on or after July 1, 2008, parent borrowers have the option of deferring repayment based on the enrollment status of the dependent student on whose behalf a Direct PLUS Loan was obtained. Specifically, parent Direct PLUS Loan borrowers may defer repayment:
- While the dependent student on whose behalf the loan was obtained is enrolled on at least a half-time basis,
and
- During the 6-month period after the dependent student on whose behalf the loan was obtained ceases to be enrolled on at least a half-time basis.
Parent borrowers must call the Direct Loan Servicing Center at 800-848-0979 to request a deferment based on the dependent student's enrollment status. Currently there is no available deferment form that a parent borrower may use to request this deferment.
When requesting a deferment, a parent borrower must indicate whether he or she wishes to defer repayment only while the dependent student is enrolled on at least a half-time basis, or both while the student is enrolled and during the 6 month period after the student ceases to be enrolled on at least a half-time basis.
Interest will accrue during the deferment period. The parent borrower will be sent quarterly statements and will have the option of paying the interest as it accrues during the deferment period. If the parent does not pay the interest as it accrues, the unpaid interest will be capitalized (added to the principal balance) at the end of the deferment period
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 paid through 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.
