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Federal and State Student Aid and the FAFSA

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Federal and State Student Aid

In addition to the merit- and need-based scholarships and grants provided by Saint Vincent, you may also be eligible for federal and state financial aid, including grants, loans, and work-study programs.

To determine your eligibility, you need to complete the Free Application for Federal Student Aid (FAFSA).

 

The Financial Aid Process

1. File the FAFSA

  • File as soon as possible after October 1 each year. It will take about an hour for most filers.
  • The 2026-2027 FAFSA uses 2024 tax information.
  • Contributors (students, parents, etc.) must consent to transfer tax info from the IRS to the FAFSA.
  • All contributors need an FSA ID from studentaid.gov.
  • The SVC FAFSA code is 003368.
Tips for filing the FAFSA:
  • Start Early: The earlier you submit your FAFSA, the better your chances of receiving aid.
  • Double-Check Information: Ensure all information is accurate to avoid delays in processing.
  • Seek Help if Needed: If you have questions, contact the financial aid office or use resources available on the Federal Student Aid website.  You can also access a series of helpful webinars here.
2. After Submission
  • You’ll get an email with your FAFSA Submission Summary.
  • This summary shows your eligibility for federal aid and includes your Student Aid Index (SAI).
  • Saint Vincent will also receive this information.

3. Financial Aid Notification

  • Your SAI helps determine your eligibility for federal and Saint Vincent need-based aid.
  • You’ll receive a financial aid notification with details on your aid and payment options.

Deadlines

Verification

  • The federal government may select your FAFSA for verification.
  • You’ll be notified if selected and must provide additional documentation.
  • Verification must be completed to receive financial aid.

Questions?

If you have questions about the Financial Aid Application Process, contact the Financial Aid Office at 724-805-2555 or by email at financialaid@stvincent.edu.

Financial Aid and Tuition

Types of Government Aid

Grants

Grants are financial awards that do not need to be repaid. There are two primary grant awards determined by your SAI.

Federal Pell Grant

  • Purpose: Provides need-based grants to low-income undergraduate students.
  • Award Amount: Varies based on financial need, cost of attendance, and enrollment status. For the 2026-2027 award year, the maximum award is $7,395.
  • Eligibility: Determined by the information provided on the FAFSA.

Pennsylvania State Grant

  • Purpose: Provides need-based grants to Pennsylvania residents attending a postsecondary institution in Pennsylvania. The grants are awarded through the Pennsylvania Higher Education Assistance Agency (PHEAA).
  • Award Amount: Varies based on financial need, cost of attendance, and available funding. For the 2026-2027 academic year, the maximum award is $6,000.
  • Eligibility: Must be a Pennsylvania resident, demonstrate financial need, and be enrolled at least half-time in an eligible program.

TEACH Grant

This grant is not determined by SAI, but instead by the type of program in which the student is enrolled. If the terms of this grant are not satisfied, it will become a loan that needs to be paid back.

  • Purpose: Provides grants to students who are completing or plan to complete course work needed to begin a career in teaching.
  • Award Amount: $4,000 per year before sequestration (grants disbursed before October 1, 2026 will be adjusted to $3772)

Eligibility: Please visit our TEACH Grant page for more information.

Federal Loans

Loans are financial awards that must be repaid, but repayment terms and interest vary by loan type.

Federal Direct Loans for Undergraduates

Federal Direct Loans are low-interest loans offered to undergraduate students to help cover educational expenses. These loans are in the student’s name and do not require a credit check (for most borrowers).

How is eligibility determined?

  • Students must complete the FAFSA each year
  • Enrollment in an eligible degree program at least half-time is required
  • Financial need determines eligibility for subsidized loans (unsubsidized loans are available regardless of need)
  • Students must sign a Master Promissory Note (MPN) agreeing to the loan terms

Federal Loan types

  • Subsidized Loans: Need-based, no interest while in school.
  • Unsubsidized Loans: Not need-based, interest accrues from disbursement.
  • For details on limits, rates, and fees, visit studentaid.gov.

How to apply

Visit studentaid.gov to complete the FAFSA. Schools will automatically determine eligibility and include federal loans in the student’s financial aid offer.

 Loan details (2026–2027 academic year)

  • Interest rate (fixed): 6.52% for undergraduate Direct Loans 
  • Origination fee: Approximately 1.057%* (deducted before funds are sent to the school) *Estimated based on prior year federal fee structure; official rate typically finalized annually.

 Repayment

  • Payments begin 6 months after graduation, leaving school, or dropping below half-time enrollment
  • Interest accrues on unsubsidized loans during all periods
  • Multiple repayment plans are available, including income-driven repayment options

 Other important information

  • Federal Direct Loans are issued in the student’s name (not the parent’s)
  • No credit check or cosigner is required for most undergraduate borrowers
  • Loans may be eligible for federal forgiveness programs and income-driven repayment plans
  • Loans can be consolidated with other federal student loans after repayment begins
  • Includes protections such as deferment, forbearance, and discharge in cases of death or total and permanent disability

Federal Direct PLUS Loans for Parents

Eligible parents of dependent undergraduate students can apply for a Federal Direct Parent PLUS Loan to help pay for college costs that remain after other financial aid has been applied.

How is eligibility determined?

  • A credit check is required.
  • Parents must sign a Master Promissory Note (MPN) agreeing to the loan terms
New: Parent PLUS Loan caps beginning July 1, 2026:
  • $20,000 per year max per student
  • $65,000 lifetime max per student

If a parent is not approved due to credit:

  • You may apply with a creditworthy endorser (co-signer) or appeal the decision,OR
  • If neither option is pursued, the student may qualify for additional unsubsidized loans:
    • Up to $4,000 per year for freshmen and sophomores
    • Up to $5,000 per year for juniors and seniors

How to apply
Visit studentaid.gov to complete the application. It’s recommended to apply for the full academic year (fall and spring).

Loan details (2026–2027 academic year)

  • Interest rate: 9.07%
  • Origination fee: 4.228%* (deducted before funds are sent to the school*Estimated based on prior year federal fee structure; official rate typically finalized annually.

Repayment

  • Payments usually begin about six months after the loan is fully disbursed
  • Parents may choose to defer payments while the student is enrolled at least half-time (interest will still accrue during this time)

Other important information

  • This is a federal loan, backed by the U.S. government which can be consolidated with other federal loans in the parent’s name
  • It includes protections in cases of death or total and permanent disability
  • Loans may be combined (consolidated) with other federal education loans in the parent’s name

Graduate PLUS Loan

Graduate or professional students may also apply for a Graduate PLUS Loan to cover remaining costs after other financial aid, up to $20,500 unsubsidized per year. Requirements include a credit check and a Master Promissory Note.

Work-Study

  • Earn money for non-billable expenses by working on or off-campus.
  • Federal Work-Study is part of your aid package; Institutional Work-Study is not.
  • Search for jobs through Career Services at Handshake.

  • Financial Aid Policies

    Satisfactory Academic Progress

    Federal law (Higher Education Act of 1965, as amended) mandates that institutions of higher education establish minimum standards of satisfactory academic progress for students receiving any federal financial aid. Eligibility for Saint Vincent College institutional grants and scholarships will follow the regulations for federal aid. In addition, the Pennsylvania State Grant program and programs from other states also have their own established academic progress standards. The academic records of all students will be reviewed annually after each spring semester to determine academic progress. Students must meet these standards of academic progress to continue to receive funds from each source. Students not meeting the standards set by this policy will be ineligible for aid until the deficiencies have been made up. An appeal process is available to students who have experienced personal illness or accident, death of an immediate family member, or other extraordinary circumstances.  Click here to read the full policy.

     

    Withdrawals and Title IV Refund Policy

    The federal government mandates that students who withdraw from all classes during a semester may only keep the federal financial aid (i.e., Title IV funds) they have "earned" up to the time of withdrawal. Title IV funds that have been disbursed in excess of the earned amount must be returned by the college and/or the student to the federal government. Thus, the student could owe aid funds to the college, the federal government, or both. Students considering withdrawing should confer with their academic advisor and the Financial Aid Office. Click here to read the full policy.

    Note: Full-time students, e.g. those with 12 or more credits per semester, are eligible for Saint Vincent College funds. Part-time students may be eligible for federal and state grants and direct loans.

Financial Aid and Tuition
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