Types of Aid

Financial assistance is available from a variety of sources and can help with expenses for undergraduate, graduate, and professional education. Learn more about the types of Financial Aid available to students in the sections that follows.

 

Grants

Grants are financial awards that are awarded to the students at no cost and they do not have to be paid back in the future.

State Grants

Effective Access to Student Education (EASE)

This program is a non-need based grant funded by the State of Florida. EASE provides tuition assistance to full-time (12 credits or more per semester) students from Florida attending private, independent colleges and universities located in the state. A student must be a permanent resident of Florida (for other than educational purposes) for at least 12 consecutive months prior to the semester of enrollment. Dependent student’s eligibility is based on a parent’s Florida residency requirement. This program provides approximately $3,500 per academic year, subject to state budget appropriations.

Florida Student Assistance Grant (FSAG)

FSAG is a need-based grant funded by the State of Florida. Students must complete the Free Application for Federal Student Aid (FAFSA) to be considered for the FSAG. These funds are limited; students eligible for the FSAG have the right to be considered as long as funds are available. This grant provides approximately $1,500 per academic year to full-time students (12 credits or more per semester), subject to state budget appropriations. Priority is given to students who apply prior to the priority deadline of February 1st.

Florida Bright Futures Scholarship Program

Florida students who have earned a Florida Bright Futures Scholarship can utilize these funds at St. Thomas University. The amount is determined by the type of scholarship earned and is equal to a fixed cost per credit hour. Award amount for the Florida Academic Scholars is $211.00 per credit and award amount for Florida Medallion Scholars is $158.00 per credit.

State Grant Programs Outside Florida

Students who are not Florida residents should contact their State Department of Education. Some states provide transferable state grants to students who qualify, based on financial need. Out-of-state students can use these grants to attend a college or university outside of their state. Students should contact their State Department of Education for further details, application procedures, and deadlines.


Federal Grants

Federal Pell Grant

A need-based grant funded by the Federal government for undergraduate students seeking their first bachelor degree. Pell Grants may vary each year. The actual amount awarded is based on the student's actual enrollment status each semester and the Estimated Family Contribution (EFC) as calculated by the Department of Education.

Federal Supplemental Educational Opportunity Grant (FSEOG)

A need-based grant funded by the Federal Government and available on a limited basis to eligible undergraduate students. Priority is given to students with the greatest financial need. You must be enrolled full-time to be considered for this grant. This grant provides approximately $800 to Full Time Pell eligible students with the lowest EFC as funding is available. Priority is given to students who apply prior to the priority deadline of February 1st.

 

Loans

Federal Direct Loans

The William D. Ford Loan Program offers Direct Loans to students who need help paying for their educational expenses. Although many students rely on low-cost Direct Loans to help pay education expenses, students are under no obligation to borrow. Unlike scholarships and grants, educational loans must be repaid with interest (when applicable). Never borrow before you have exhausted all other sources of financial aid. More information about loans.

Direct Subsidized Loan (Undergraduate Students Only)

A need-based long-term loan administered by the U.S. Department of Education. These loans are awarded to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at a college or career school. Eligibility is determined by the information provided on the Free Application for Federal Student Aid (FAFSA) and the school’s total cost of attendance minus all other aid received.

Direct Unsubsidized Loan

A long-term loan administered by the U.S. Department of Education. These loans are awarded to eligible undergraduate, graduate, and professional students, but in this case, the student does not have to demonstrate financial need to be eligible for the loan. Eligibility is determined by the information provided on the Free Application for Federal Student Aid (FAFSA) and the school’s total cost of attendance minus all other aid received.

Federal Direct PLUS Loan for Parents of Dependent Undergraduate Students

The Direct parent PLUS Loan is a low-interest loan available to parents of dependent undergraduate students. This is a non-need based loan for those who do not have an adverse credit history. The Direct Parent Plus loan amount is subject to the parent’s credit approval and the student’s cost of attendance minus all other aid received.

Federal Direct PLUS Loan for Graduate/Professional Students

The Direct PLUS Loan for Graduate/Professional Students is a long-term, low-interest loan for Graduate and Professional Students. This is a non-need based loan for those who do not have an adverse credit history. Borrowers may borrow up to the total cost of attendance minus other financial aid received. Borrowers must apply for the maximum eligibility under the Direct Loan Program prior to applying for Direct PLUS Loan for Graduate/Professional Students.


Annual Loan Limits

An annual loan limit specifies the maximum amount of loans that students are allowed borrow in a single academic year. The limit is regulated by the Federal government and varies between dependent, independent and graduate students.

Annual Loan Limits
 (Fall & Spring)

Dependent

Maximum Subsidized

Additional Unsubsidized

Combined Sub & Unsub

Freshmen

$3,500

$2,000

$5,500

Sophomore

$4,500

$2,000

$6,500

Junior/Senior

$5,500

$2,000

$7,500

Independent

Maximum Subsidized

Additional Unsubsidized 

Combined Sub & Unsub

Freshmen

$3,500

$6,000

$9,500

Sophomore

$4,500

$6,000

$10,500

Junior/Senior

$5,500

$7,000

$12,500

Graduate

N/A

$20,500

$20,500

Aggregate Loan Limits

An aggregate loan limit specifies the maximum amount of loans that students are allowed borrow for the entirety of their academic career. The limit is regulated by the Federal government and varies between dependent, independent and graduate students. 

 Maximum loan limits

Maximum Subsidized

Additional Unsubsidized

Combined
 Subsidized & Unsubsidized

Dependent Undergraduate

 $23,000

 $8,000

 $31,000

Independent Undergraduate

 $23,000

 $34,500

 $57,500

Graduate
 (includes undergraduate amount)

 $65,500

 $73,000

 $138,500

 

Other Types of Loans

Private Alternative Loan

Alternative loans are available through commercial lenders for educational costs during periods of enrollment. They are based on credit-worthiness. We strongly suggest that students submit a FAFSA and seek federal loan assistance before attempting to participate in any alternative loan programs. To compare lender benefits and apply for a Private Loan, click here.

ATTENTION: Please be sure to use our school code 001468 when applying for a Private Loan.