@St. Norbert March 2009 - Good economic news is in the mail for next year’s incoming students

Jennifer Buresh ’09 knew coming out of high school that she wanted a private education, and she had her heart set on St. Norbert’s education program. With scholarships and other financial aid, she made that dream possible and affordable.

>> Hear in Jennifer's words how she did it

March 2009

Good economic news is in the mail for next year’s incoming students

Recent headlines have painted a pretty dismal economic picture. It’s not surprising, then, that many families with college-bound students simply rule out a private education because they believe the cost is out of reach. In reality, a private college like St. Norbert can offer bigger scholarships and more need-based aid than many public institutions. That, combined with our four-year graduation guarantee, makes St. Norbert surprisingly good value.

Another reality is that financial aid is readily available. Currently 99 percent of St. Norbert students receive some type of financial aid, with the average award reaching a little more than $19,000. And the news gets even better. For students who file the Free Application for Federal Student Aid (FAFSA) and qualify for need-based aid, the average aid award is $24,280.

Need-based aid is determined by the federal government. Need is the difference between the full cost of attendance – tuition, books, room and board, insurance and other fees – and the amount a family can contribute based on information provided on the FAFSA. Need-based aid comes in the form of grants, loans and work-study.

In addition to need-based aid, most St. Norbert students also qualify for merit-based aid. Scholarships are based on academic achievement. Because they are merit-based, they are available to every student who qualifies for them. This opens up sources of potential funding for a great many students regardless of financial need.

Here’s how the components of an average award package might add up for a student with a demonstrated need of $24,280:

Trustee Scholarship $11,000
This scholarship is awarded to exceptionally talented students.

Norbertine Scholar Award $2,000
Most Trustee and Presidential Scholars will receive this award in addition to their academic scholarship.

St. Norbert College Grant $1,380
This grant is 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.

Wisconsin Tuition Grant $2,900
This award is available for Wisconsin residents who meet state eligibility requirements.

Local Scholarship $2,000
The financial aid office also distributes scholarships awarded by organizations or groups outside of the college.

Stafford Loan $3,500
Repayment of a federal Stafford Loan need not begin until six months after graduation.

Employment $1,500
St. Norbert College provides employment opportunities where students learn to identify and transfer skills, develop and achieve goals, and experience Catholic/Norbertine values in a work setting.

Total: $24,280. Only $3,500 of this sum comes in the form of loans that will eventually need to be repaid. The rest is gifted in the form of grants and scholarships.

Information programs like those listed above, and indeed on any question of affordability that may stand between prospective students and their dream of a private college education, is available at any time from the financial aid office.