Financial Aid at SPC

#1 in Affordability

Named first in the “Least Debt” category, Saint Peter’s students have the lowest amount of debt at their time of graduation among all NJ and NY private schools.

US News and World Report’s Best Colleges 2011, Regional Universities North division

What is Financial Aid?

Financial aid can include grants, scholarships, loans and Federal Work Study. It is need based. The scholarship and/or resident award which you received with your acceptance to Saint Peter’s is merit-based. Grants and scholarships normally do not have to be paid back, but you may have to meet certain criteria to continue to be eligible for these each year (e.g. maintain a certain GPA or continue to play a sport). Loans are borrowed funds and must be paid back under the conditions of the loan program. Work Study is an on-campus job – students are paid for hours they work.

How do I apply for financial aid?

You must fill out a Free Application for Federal Student Aid (FAFSA). You can alse complete a paper FAFSA. In order to receive consideration for as many Financial Aid programs as possible you should file the FAFSA by April 1 each year, and by March 1 as an incoming freshman. The Federal School Code for SPC is 002638.

When will I get my award letter?

If you are a prospective freshman and have submitted your FAFSA earlier than March 1, you will receive your award letter starting March 15. The sooner you submit the FAFSA, the sooner you receive your award letter.

If my parents are separated or divorced, whose income is reported on the FAFSA?

The parent you live with or who has custody of you should complete the FAFSA. If your parent has remarried, the stepparent’s income is also required to be reported. However, child and household support from the non-custodial parent is required on the FAFSA.

What happens after I complete my FAFSA?

You will receive a Federal Student Aid Report (SAR). You can expect the SAR to be mailed to your home in two to six weeks after you mail or transmit your SAR to the federal processor. You must review this report for accuracy. We recommend that if corrections are necessary, that you bring the SAR to the Financial Aid Office immediately for assistance in making corrections to the SAR.

If you are selected for verification, you will also be required to provide copies of the tax returns for individuals whose income was included on the application. Saint Peter’s College Financial Aid office will notify the selected students of additional documents required.

Are there any deadlines for financial aid that I need to meet?

New applicants, in order to be eligible for NJ Tuition Aid Grant (TAG) for the upcoming academic year, must complete their FAFSA no later than October 1  (March 1 recommended). For Stafford and NJ Class Loans only, students must have completed their FAFSA and loan applications must be received from the student and certified by the Student Financial Aid Office before the end of the term for which the loan will be used.

It is recommended that you apply for your Stafford, Parent PLUS, and NJ Class Loans at Student Loans as soon as you have received your financial aid award letter and decided how much you will need to borrow for your education.