St. Norbert College
St. Norbert College
- ACADEMIC PROGRAMS | ALUMNI | FUTURE STUDENTS | PARENTS | VISITORS
(Students, faculty and staff) mySNC -
- -
-
-
-
- About SNC | A to Z Index | Directory -

QUICK LINKS:

 
Other financial aid sources

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 or who enroll in summer and/or J-term courses. For more information regarding Army ROTC scholarships at St. Norbert College contact the Office of Financial Aid.

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 Office of Financial Aid website. Depending on your financial need you will either be paid through Federal College Work-Study or St. Norbert College Regular Employment.

Federal College 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 approved community service positions 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.

 




 
Federal student loans

Quick links:
Federal William D. Ford Direct Stafford Loan
Stafford Loan requirements
Annual and Aggregate Loan Limits for Undergraduate Students
Federal Perkins Loan


Federal Direct Loans
Federal Direct Loans are fixed-rate student loans for undergraduate and graduate students attending college at least half-time.  Direct loans are made available to U.S. citizens or permanent residents who complete the FAFSA. Repayment of principle and interest begins six months after borrower ceases to be enrolled at least half-time.

Subsidized Stafford Loan: Available to undergraduate students who demonstrate financial need. The U.S. Department of Education pays the interest while the student is enrolled at least half-time.

Unsubsidized Stafford Loan: Available to undergraduate and graduate students. Students do not need to demonstrate financial need to receive this loan. Interest accrues while the student is in school (once the loan is disbursed), as well as grace and deferment periods. 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 and it accrues, the unpaid interest will be capitalized at repayment (added to the principle balance).

Interest rate
Interest rates are determined by Congress.  The current fixed interest rate for undergraduate loans disbursed between July 1, 2014 and June 30, 2015 is 4.66%.

Graduate students are only eligible for Direct Unsubsidized Loans.  The current fixed interest rate for graduate Direct Unsubsidized Loans disbursed between July 1, 2014 and June 30, 2015 is 6.21%.

Loan fees
Loan fees are determined by Congress.  Fees range from 1.072% to 1.073% based on when the loan is first disbursed to the school for the 2014-2015 academic year.  Loan fees will be deducted proportionately from each loan disbursement. Loans with a first disbursement before 10/1/14 have a loan fee of 1.072%. Loans disbursed on or after 10/1/14 and before 10/1/15 have a loan fee of 1.073%.

Repayment
Repayment beings six months after a student graduates or ceases to be enrolled at least half-time.

Stafford Loan requirements
Borrowers are required to complete the following loan requirements before receiving a Federal Stafford Loan:
  • Entrance loan counseling: Entrance counseling will explain the Direct Loan process and describe your rights and responsibilities as a borrower. All first time Direct Loan borrowers must complete entrance counseling before their loans can be disbursed. Entrance Counseling can be completed online at www.studentloans.gov.
  • Master Promissory Note (MPN): The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It explains the terms and conditions of your loan(s). Once you complete the MPN, you will not have to complete another Direct Loan Promissory Note for the duration of your St. Norbert College education. The MPN can be completed online at www.studentloans.gov.
Before (or upon notification) that a student withdraws, graduates, or  drops below half-time attendance (regardless if the borrower plans to transfer to another school), regulations require that Stafford loan borrowers complete exit loan counseling.
  • Exit Counseling: Exit counseling can be completed online at www.studentloans.gov This National Student Loan Database (NSLDS) website (www.nslds.ed.gov), will also provide useful information about all federal student loans borrowed, including total federal student loan debt, repayment status, etc.
Annual and aggregate loan limits for undergraduate students
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.

Loan limits for Subsidized and/or Unsubsidized Stafford Loans are:
Year Dependent Undergraduate Student (except students whose parent are unable to obtain PLUS Loans) Independent Undergraduate Student (and dependent students whose parents are unable to obtain PLUS Loans) Graduate and Professional Degree Student
First year
$5,500 – no more than $3,500 of this amount may be in subsidized loans.
$9,500 – No more than $3,500 of this amount may be in subsidized loans. $20,500 (unsubsidized only)
Second year
$6,500 – no more than $4,500 of this amount may be in subsidized loans. $10,500 – No more than $4,500 of this amount may be in subsidized loans.
Third and beyond (each year)
$7,500 – No more than $5,500 of this amount may be in subsidized loans. $12,500 – No more than $5,500 of this amount may be in subsidized loans.
Maximum Total Debt From Stafford Loans When You Graduate (Aggregate Loan Limits) $31,000 – No more than $23,000 of this amount may be in subsidized loans.
$57,500 – No more than $23,000 of this amount may be in subsidized loans. $138,500 – No more than $65,500 of this amount may be in subsidized loans. The graduate debt limit includes Stafford Loans received for undergraduate study.


**These annual loan limit amounts are the maximum yearly amounts you can borrow in both subsidized and unsubsidized loans. You can have one type of loan or a combination of both depending on your financial need. Because you can’t borrow more than your cost of attendance minus any other financial aid you’ll receive, you may receive less than the annual maximum amounts. Also, the annual loan limits assume that your program of study is at least a full academic year. If the remaining portion of your program of study is less than a full academic year, your loans will be prorated.
 

Federal Perkins Loan
U.S. citizens or permanent residents who complete the FAFSA and are enrolled for at least six credits per aid period will be considered for this federal loan. Funds from this program, when available, are loaned to the neediest students, as determined by the needs analysis. If a student is eligible for a Perkins Loan, the loan amount they are eligible for will appear on their award notification. Loan limits are $2,000 annually; $15,000 aggregate for undergraduates. Entrance counseling and Master Promissory Notes are required for first time Perkins Loan borrowers at St. Norbert College. Interest is at a fixed rate of 5%. Payment and interest are deferred until nine months after a student graduates or falls below half-time enrollment.

 





Financial Aid

Phone: (920) 403-3071
Fax: (920) 403-3062
E-mail: financialaid@snc.edu


St. Norbert College • 100 Grant Street • De Pere, WI 54115-2099 • 920-337-3181