Financial Aid

The cost of a college education is of vital concern to students, their parents and the educational institutions they attend. This section identifies many sources of financial aid and information about university programs and policies that are designed to help students finance a college education at St. Thomas. Whenever possible, students will want to take advantage of opportunities such as federal and state grants, loans and student employment programs. It is important that proper application for aid be made by the deadlines noted.

The University of St. Thomas participates in Federal and State financial aid programs. These programs include scholarships and grants, loans and student employment. In addition, the university offers institutional merit-based scholarships and awards to those students who have excelled academically and/or made contributions to their school, community or church. In addition, the university may offer need-based grants to students who demonstrate financial need. Merit-based scholarships may meet some or all of a student’s financial need as determined by the Free Application for Federal Student Aid (FAFSA).

Financial Aid Information on the Web

For the most current information regarding the application process, scholarships, grants, student employment, student loans and financial aid policies at the University of St. Thomas, visit the undergraduate financial aid website.

Applications

To be considered for financial aid, a student must be admitted to the university as a degree-seeking student.

Students wishing to apply for need-based financial aid or federal student loans must complete the Free Application for Federal Student Aid (FAFSA). The FAFSA collects information about the student and his/her family, considers that data in light of the federal financial aid formula and determines financial need.

Students are strongly encouraged to complete the FAFSA online at studentaid.gov. A paper form may also be obtained, contact the Financial Aid Office for assistance.

Undocumented students who are MN residents may be eligible for a MN state grant. Students with this status should complete the state financial aid application rather than the FAFSA. More information can be found at www.ohe.state.mn.us.

Awards and Renewals

Need-based financial aid is awarded annually unless specified otherwise.

Students must reapply by filing the FAFSA each year. All financial aid is disbursed to the student’s account to pay tuition, fees or other charges for each semester. Awards will be adjusted if the student withdraws from the university before the end of the semester or year, or if the student is enrolled less than full-time (12 credits or more per semester). Students must be in compliance with the Satisfactory Academic Progress Policy to be eligible for financial assistance.

Satisfactory Academic Progress

To remain compliant with the Satisfactory Academic Progress Policy (SAP), a student must:

1. Successfully complete 67 percent of all attempted credits
2. Maintain an institutional GPA of 2.00

All students meeting the above conditions are eligible to receive financial aid for a maximum of 150% of the credits required to complete their program. A detailed copy of the Satisfactory Academic Progress Policy. 

Financial Aid Policy Regarding Withdrawal from the University

If a student withdraws from the University of St. Thomas during a semester, January or summer term, a calculation of “earned” vs. “unearned” federal aid must be determined. This federal policy assumes the student earns his or her aid based on how much time has elapsed in the term. If a student receives federal financial aid, that aid may be reduced as a result of the withdrawal.

Undergraduate students, who are considering a full withdrawal from the University of St. Thomas during a semester, January or summer term, should review and make sure they understand this detailed explanation of the Financial Aid Withdrawal Policy.

Institutional Charges and State Aid Refund Policy

The Return of Title IV Aid calculation, as cited above, only considers federal funds – not institutional, state or outside funding sources that may be included in the student’s financial aid package. Depending upon the timing of your withdrawal, you may qualify for a tuition refund.

If a student withdraws during a period of time that allows for a tuition refund, a portion or all of the student’s institutional, state and/or outside funding may need to be reduced or cancelled. If a student receives a 100 percent tuition refund on all courses for a particular term, all institutional, state and outside funding must be returned to the appropriate aid program(s). If the student’s tuition refund was not used to fully repay the Return of Title IV Aid, a proportional share of the remaining tuition refund must be returned to the appropriate aid program(s).

Tuition Refund Plan/Tuition Insurance

Review the voluntary Tuition Refund Plan details for more information.

Consumer Information

Important information to consider:

Required Higher Education Act disclosures

University of St Thomas Policy Repository