A financial aid recipient may be granted one or more forms of assistance. Students receiving grants and scholarships are usually also offered loans, campus employment, Pell Grants if applicable, and state or outside grants as part of their "package." Some of the different forms of financial aid are:
St. Lawrence University Scholarship awards are based upon merit. These awards are designed to recognize the academic excellence of the student. Financial need is not considered when making these awards. At St. Lawrence, these are offered by the Office of Admissions at the time of acceptance. More information.
Grant awards are based on demonstrated financial need. Grants (resources that you do not have to repay) may be made from the college's own endowment, from State or Federal sources, or from outside agency funds. The federal grant programs at St. Lawrence University include the Pell Grant and Supplemental Educational Opportunity Grant (SEOG). State grant assistance programs are usually state specific, and in most cases, the student must attend a college within the state of residence to be eligible.
Funds from outside agencies require some research to apply. A web site such as www.fastweb.com or www.finaid.org may assist you with your outside scholarship search. More outside scholarship search information.
There are numerous educational loan programs available to students. The most common include the federal subsidized and unsubsidized, low-interest loan programs. A federal subsidized loan is one that has both the principle and interest payments deferred while the student in enrolled at least half-time. A federal unsubsidized loan is also low interest, but only the principle payments are deferred during in-school enrollment. One typically pays interest-only payments on this loan during periods of enrollment. More educational loan information.
Student employment is a part-time job on campus and is also often called work-study or campus employment. Students are usually paid an hourly wage and many students use this resource for personal expenses. Additional on-campus employment information.