Grants & Loans

Saint Leo University works closely with undergraduate and graduate students to make your online education affordable.

FAFSA

About FAFSA

Fill out the Free Application for Federal Student Aid (FAFSA) online at www.fafsa.ed.gov. Financial aid is a renewable process, and a FAFSA must be completed each year to receive aid. Apply each year after January 1, when you have tax information available for the prior year, preferably by April 15, as some funds are limited. The FAFSA asks questions about a family's income and assets to determine an Expected Family Contribution, or EFC.

Filing Your FAFSA

  1. Get a four-digit PIN number issued by the Department of Education online at www.fafsa.ed.gov.
  2. Complete the "FAFSA on the Web" Worksheet to gather the financial information you'll need to complete the formal FAFSA.
  3. File your FAFSA, listing Saint Leo University's federal school code, 001526, in the school release section.
  4. Check the status of your FAFSA online or use the Federal Student Aid Information Center automated hotline 800.433.3243.

Your Student Aid Report (SAR)

After you fill out your FAFSA, Saint Leo University will receive an electronic copy of the Student Aid Report (SAR) that indicates the amount your family can realistically contribute. You will also receive notification of your processed SAR. Review it for any changes you may need to make. Changes can be made at www.fafsa.ed.gov. If you make any changes, this will, in turn, generate another SAR.

If your application was not selected for verification, it generally takes about two weeks to have your information reviewed and an award made.

If your SAR indicates you are selected for verification, you will be required to send a copy of your tax return and a verification worksheet. If you are married, you must provide a copy of your spouse's tax return, and if you are a dependent student, you must provide a copy of your parents' return.

After verification, you will need to mail, fax, or email a scanned copy of the above documents to:

Saint Leo University
Student Financial Services - MC2228
P.O. Box 6665
Saint Leo, FL 33574-6665
finaid@saintleo.edu
Fax: 352.588-8612 or 352.588.8403

Once the Office of Student Financial Services receives all requested documentation, it generally takes about two weeks to have a financial aid award made.

Accepting Your Financial Aid Award

You can accept, decline, reduce, or view your financial aid at eLion, Saint Leo University's web interface that allows you to access information contained in the Saint Leo University administrative database. You will need to accept your loan amounts if you would like to borrow the student loan that has been offered.

Grants

When you file your Free Application for Federal Student Aid (FAFSA), you will automatically be considered for these federal aid options, which do not require repayment.

Federal Pell Grant

Pell Grants are available to students (U.S. citizens) who show financial need according to the Free Application for Federal Student Aid (FAFSA). Annual awards vary widely ($400 to $4,371 for full-time study). Your award amount is determined by the student's Expected Family Contribution (EFC) as calculated from the FAFSA. Pell Grant funds are sent directly to the school and applied to the student bill.

Federal Supplemental Educational Opportunity Grant (SEOG)

The SEOG is a federal grant awarded to Pell Grant-eligible students who have demonstrated the highest calculated need from the FAFSA. Awards can range from $100 to $500, and are applied directly to the student bill. SEOG is subject to availability.

Loans

Federal Loans

Federal loans are available through the government so that students can pay for school. The U.S. Department of Education funds these expenses, known as the Stafford Loan for undergraduate students and PLUS loans for parents and graduate students. This financial aid is available by filling out the Free Application for Federal Student Aid (FAFSA). A Saint Leo University financial aid student support representative is available to assist you in going through the FAFSA process to qualify for these no-interest or low-interest financial benefits. These loans do not have to be paid off until the student graduates.

To receive student loans, you must have a valid Student Aid Report (SAR) on file and have been awarded a federal financial aid award. The federal financial aid award will include student loans if you are eligible. You will be given the option to accept, reduce, or decline the loans offered to you. Once Saint Leo University receives all necessary online confirmations, you will receive instructions on how to complete the Electronic Master Promissory Note (E-MPN). You will choose your lender and complete loan entrance counseling during the signing of the Promissory Note.

Federal Stafford Loan (Subsidized and Unsubsidized)

Subsidized Stafford Loans are awarded to undergraduate students on the basis of financial need as determined by the FAFSA and the college's cost of attendance. The federal government pays the interest on the loan during enrollment of at least six credit hours per semester and during the six-month grace period after enrollment ceases. An Unsubsidized Stafford Loan is not based on financial need and interest accrues from the time the loan is disbursed until it is paid in full. Annual loan limits under the Federal Stafford Loan program are: $3,500 freshman, $4,500 sophomore, and $5,500 junior and senior. Additional Unsubsidized Stafford Loan funds are available for students whose parents are not credit-worthy or for students determined independent of parent by Department of Education standards. Stafford Loan funds are released directly to the school in two or more disbursements via Electronic Funds Transfer (EFT), and applied directly to the student bill.

Parent Loan for Undergraduate Students (PLUS)

PLUS is available to graduate students and credit-worthy parents who want to borrow for their undergraduate children's education. Students must be enrolled at least half-time. A Master Promissory Note (MPN) is required. The loan amount can be up to the cost of attendance minus other financial aid received. PLUS Loan funds are released directly to the school in two or more disbursements via Electronic Funds Transfer (EFT). Repayment begins 60 days after the loan is fully disbursed for the academic year. Funds are sent directly to the school and applied directly to the student bill.

Alternative Loan Providers

Saint Leo University recognizes that federal loans often cannot cover the expenditure of higher education, especially when living expenses and housing become part of the financial investment. In addition to the financial aid the government offers through the FAFSA, you can contact your banking institution for more information on private loans.

Loan Deferment/Enrollment Verification

Students must request loan deferment/enrollment verification forms from the institution requesting verification. Saint Leo University does not provide loan deferment or enrollment verification forms.

Processing takes seven to ten working days. At the beginning of a new term, processing may take a little longer. Loan deferment/enrollment verifications are not processed until after the course drop/add date.

The Registrar's Office will mail forms to the party requesting the information, provided an address is listed. If no address is indicated, the form will be returned to the student.

The student is required to sign, date and complete certain information on the form. Please specify for which term the deferment is for. To ensure quick processing, please make sure this is done before submitting to the Registrar's Office. Forms may be mailed or faxed to campus.

If a form is unavailable, students may request enrollment verification by completing the following process:

  • Include your name, social security number, anticipated date of graduation, term needing to be verified and signature.
  • Mail or fax the information to the following address:
    Saint Leo University
    Registrar's Office - MC 2278
    P.O. Box 6665
    Saint Leo, FL 33574
    Phone: 352.588.8234
    Fax: 352.588.8390

To Maintain Financial Aid Eligibility

Federal regulations require all schools participating in the Title IV financial aid programs to have a Standard of Academic Progress, which applies to all applicants and recipients of financial aid. To maintain financial aid eligibility, a student must be making satisfactory progress toward a degree.

Satisfactory progress is determined in both a qualitative and a quantitative measurement.

CLICK HERE to view the Standard of Academic Progress Policy.

Qualitative Component

All students must maintain a minimum cumulative grade point average (GPA), which is determined by the student's academic level. The cumulative GPA pertains to the cumulative GPA derived from Saint Leo University credits only. It is not combined with the cumulative GPA from other schools. Undergraduate students must meet the cumulative GPA required by the University for continued eligibility to enroll and graduate. Graduate students must meet the cumulative GPA requirements as specified by their graduate program.

Quantitative Component

Students must complete their education program within a maximum time frame (measured by attempted credit hours) and must earn (receive a passing grade) a minimum percentage of all attempted Saint Leo University credit hours. The time frame for undergraduate students cannot exceed 150% of the published length of the academic program. The published length of the academic program is the minimum number of credit hours required to earn a degree.

Using Aid to Purchase Textbooks

Textbooks can be purchased through our book vendor, MBS Books. Student can access the MBS website at http://bookstore.mbsdirect.net/saintleo.htm.