Types of Financial Aid | St. Lawrence University Financial Aid

Types of Financial Aid

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". Most financial aid resources are applied at a rate of one half each semester. 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 University, the Admissions Office offers these 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, Supplemental Educational Opportunity Grant (SEOG), and the Iraq and Afghanistan Service Grant (ISAG). 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.

Educational Loans
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 is 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 may pay interest-only payments on this loan during periods of enrollment. More educational loan information.

Student Employment
Student employment is a part-time job on campus and is 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.