Admission & Financial Aid

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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). The following are examples of aid available: Grants, Student Employment, Student Loans.

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 - $5,920

Federal SEOG Grants

$500 - $4,000

Minnesota State Grants

$100 - $11,500

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:

Federal Direct Loan (Subsidized)
Loan Maximum
Interest Rate
Repayment Terms

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

Interest-free while enrolled at least half-time;

3.73% interest rate during repayment

Six months after college enrollment ends

Available to all students and parents regardless of family income:

Federal Direct Loan (Unsubsidized)*
Loan Maximum
Interest Rate
Repayment Terms

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

3.73% rate during in-school and repayment

Six months after college enrollment ends
Federal Parent Loan for Undergraduate Students (PLUS)
Loan Maximum
Interest Rate
Repayment Terms

Cost of education minus other aid

6.28%

60 days after loan is disbursed
Private Student Loans
Loan Maximum
Interest Rate
Repayment Terms

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:

CSB Students

SJU Students

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

Additional resources:

College of Saint Benedict
Saint John’s University

2850 Abbey Plaza
PO Box 7155
Collegeville, MN 56321

Office 320-363-5060
Toll Free 800-544-1489
Fax 320-363-5650
Email [email protected]

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