Financial Aid

Financial Aid Websites: 

• www.studentaid.gov – Free Application for Federal Student Aid
• www.studentaid.gov – Department of Education website to complete the Federal Direct Loan, Master Promissory Note, and Federal Direct Loan Entrance Counseling
• www.studentaid.gov/h/manage-loans – Loan Repayment
• www.studentaid.gov/manage-loans/repayment/plans/income-driven – Income-Based Repayment
• www.studentaid.gov/manage-loans/forgiveness-cancellation/public-service – Public Service Loan Forgiveness (PSLF)
• www.PHEAA.org – PA Higher Education website
• www.YouCanDealWithIt.com – for soon-to-be college graduates regarding debt management and other important information
• www.nces.ed.gov – College Navigator Website 

Types of Financial Aid Available by completing the FAFSA form: 

Federal and PA State Grants: Federal Pell Grant, Federal Supplemental Education Opportunity Grant (SEOG), PA State Grant.  Grants are funds that do not need to be paid back.  They are renewable if the student meets all eligibility criteria.   

• Federal Pell Grant and Federal Supplemental Educational Opportunity Grant (SEOG) – These two need-based federal grants are awarded to students who meet the required financial need criteria based on the information from the FAFSA. They are disbursed in two equal disbursements over the fall and spring terms.

• Pennsylvania State Grant – Pennsylvania resident students may be eligible for the PA State Grant through PA Higher Education Assistance Agency (PHEAA).  More information is available from PHEAA at 800-692-7392 or at www.pheaa.org.

Loans: Direct Federal Subsidized Stafford Loan, Direct Unsubsidized Stafford Loan, Direct Federal Parent Loan (PLUS).  Loans are funds that are borrowed and need to be repaid.  Loans are renewable upon accepting the offered amount and student meets the eligibility requirement. 

Direct Subsidized Loan: The US Dept of Education will pay the interest on the loan while the student is in school at least half-time and for the first six months after the student leaves school, and during any future period of deferment. 

Direct Unsubsidized Loan: These loans begin accruing interest when the funds disburse while the student is in school.  Unsubsidized loans are available to undergraduate and graduate students.  There are federal limits on the amount a student can borrow each year.  

DOE charges a loan fee of 1.062% that is deducted from the Stafford loan amount 

Parent PLUS Loan: Interest will begin accruing on the loan upon disbursement. 

The Parent PLUS Loan is a federal loan in the parent’s name. It is the parent’s responsibility to pay back this loan. Parents who wish to borrow a Parent PLUS Loan must first request a PLUS Loan at www.studentaid.gov. Then, if the parent is approved, complete the PLUS Loan Master Promissory Note (MPN). 

DOE charges a loan fee of 4.248% that is deducted from the PLUS loan amount. 

Other Aid: The Diocese will offer students Scholarships/Stipends depending on the diocese: 

Archdiocese of Phila: AOP will pay tuition, fees, room and board leaving a balance of $6500 per term in the 24/25 aid year that can be paid with other types of financial assistance. 

Other Dioceses will pay partial college level tuition.