International Business Degrees Online

The financial aid program at Saint Joseph’s College is designed to assist those students who, without such assistance, would be unable to pursue a program of study at the College. In selecting aid recipients, the College places primary emphasis on demonstrated financial need. Consideration is also given to academic performance.

Saint Joseph’s offers both merit and need-based financial aid to full-time students enrolled in our traditional baccalaureate degree programs. New students are considered for the College’s merit scholarship programs through the admission process. For a listing of first year scholarships, refer to the current Saint Joseph’s College Viewbook.

The College offers eligible students financial aid packages which may include scholarship, grant, loan, and/or work-study funds. These programs may be awarded singly, but are most often awarded in various combinations called financial aid packages.

Saint Joseph’s College considers the primary financial responsibility for the education of students to rest with the students and their families. The College makes every effort to address the needs of an accepted and enrolled student, but it views its efforts as supplemental to the efforts of the student, the student’s family and other agencies.

In addition to making application for assistance through the College, students of Saint Joseph’s are expected to pursue vigorously all avenues of support from private organizations.

In general, the College awards assistance within the limits of demonstrated need. Need is defined as the difference between the cost of attendance and what the family is able to contribute as determined by federal and institutional formulas.

Priorities and entitlements under federal and state programs are recognized and honored, as are institutional programs which carry commitments to identified students. Students not entitled to special consideration compete for available funds within the limits of their demonstrated financial need. Where students rank academically within the applicant group may well have a bearing on the student’s selection, the percentage of need met, and the composition of their financial aid package.

Application Process

To be considered for the assistance programs available at Saint Joseph’s, students must submit the following documents as soon as possible after January 1 and before the priority date announced annually:
Free Application for Federal Student Aid (FAFSA).

Saint Joseph’s College Financial Aid Application.

Parents’ & Student’s Signed Federal Income Tax Returns
(Including all schedules and W2’s).

On-time submission of the above ensures that students will be considered for all of the programs administered by the College. Additional documentation may be requested during the review process and throughout the enrollment period due to federal and institutional verification policies. Students are required to comply with these requests in a timely manner.

A student has the right to request reconsideration of the financial aid award given changes in the family’s financial circumstances or other mitigating factors. A letter requesting reconsideration should be directed to the Financial Aid Committee. These requests are subject to the availability of funds and committee review.
Financial Aid and Academic Progress

Students are expected to graduate within four years of full-time study at Saint Joseph’s. Financial aid eligibility is, in part, based on a student’s progress in the degree program. The following minimum standards are required of all aid recipients.At Completion of Semester of Attendance Class Level Minimum Cumulative Earned Credits Required Minimum Cumulative Grade Point Average Required (CGPA)
First Freshman 12 1.50
Second Freshman 28 1.75
Third Sophomore 44 1.85
Fourth Sophomore 60 2.0
Fifth Junior 78 2.0
Sixth Junior 96 2.0
Seventh Senior 112 2.0
Eighth Senior 128 2.0

Students who are attending on a part-time basis are also required to meet academic progress standards. To determine how many credits students must earn, multiply the cumulative credits by 75% if attending on a three-quarter time basis (9-11 credits) and 50% if attending on a half-time basis (6-8 credits per semester). Students must be at least half-time to receive financial aid and must also carry at least the cumulative grade point average indicated for the number of credits students are required to have completed.

A student who fails to meet the criteria during our annual review will be placed on probation for one semester. The cumulative credit and grade point average benchmarks to regain full eligibility are provided to student aid applicants who are placed on probation. The student will have one semester to regain eligibility. Only after that time will he or she be denied financial aid as a result of failing to meet the standards of satisfactory academic progress. Mitigating circumstances should be documented and included with a letter requesting reconsideration. This letter should be addressed to the Financial Aid Committee.

In general, an eligible student may receive up to eight semesters of institutional financial aid if enrolled on a full-time basis. Students who elect or who are required to repeat courses must still maintain the minimum standards outlined in the chart above. For this and other reasons, some students may have to enroll in summer school. In cases where mitigating circumstances have been used to determine an individual student’s progress requirements, a student may receive federal aid for only 150% of the normal degree completion time frame.

College Funds

The College offers many scholarship and grant funds. For a complete listing including descriptions, application procedures, eligibility, selection criteria, and award amounts, please refer to our Web site at www.sjcme.edu. Full-time, baccalaureate degree seeking students are considered for scholarship funds during the admission process. These scholarships are renewed as appropriate (satisfactory academic progress, individual scholarship criteria, and continued enrollment in the same program as a full-time student). Students may make application for need-based funds each year.

New students to the College are considered for the following scholarship programs. For descriptions, please refer to Saint Joseph’s College Viewbook.
Presidential Scholarship

McAuley Scholarship

Saint Joseph’s Scholarship

Mercy Scholarship
All full-time baccalaureate degree students may apply for need-based grants annually by completing the required financial aid paperwork on time. Our grant funds include:
Saint Joseph’s Grant

Minority Assistance Grant

Family Tuition Reduction Grant (for families who have two or more students enrolled full-time concurrently at Saint Joseph’s College of Maine)
Federal and State Programs

Students who apply for financial aid at Saint Joseph’s are also considered for all federal programs. Students are considered for the following funds:
Federal Pell Grant
The Federal Pell Grant is an entitlement program available to students who demonstrate need and meet a family contribution requirement as specified by the U. S. Department of Education. The awards generally range between $400 and $4,050 for the academic year. Eligibility is restricted to the first undergraduate degree.

Federal Supplemental Educational Opportunity Grant (FSEOG)
This federal program is awarded to students who demonstrate financial need. Preference is given to Federal Pell Grant recipients. Award amounts are based on funding levels for the given academic year and are distributed on the basis of family contribution and other funding eligibility. The minimum award per statute is $100 and the maximum is $4,000, but federal funding constraints generally do not allow the award to exceed $1,000.

Federal Work-Study
This program provides funds for selected students who demonstrate need according to the federal formula. Students who have participated in the prior year and who apply on time are given preference for available funding. Employment is offered both on and off campus with the latter restricted to selected community service programs. Awards usually allow a student to work six to ten hours per week.

Federal Perkins Loan
This low-interest educational loan is awarded to students with financial need. It carries a 5% interest rate and a 9-month grace period for new borrowers. Awards range from $500 to $2,500 and are usually made to first-year and some sophomore students.

Nursing Student Loan
This need-based loan program is available to eligible Nursing students. It carries a 5% interest rate and a 9-month grace period for new borrowers. Awards range from $500 to $2,500 and are usually made to first-year and some sophomore students.

Federal Stafford Loan
The Subsidized Federal Stafford Loan allows eligible students to borrow funds from the participating lender of their choice. The College does maintain a preferred lender list. The federal government subsidizes the interest while the student maintains at least halftime enrollment and during a six-month grace period thereafter. Students are allowed a maximum of 10 years to repay loan principal and interest, and the program offers many options for forbearance, cancellation, and deferment (including Peace Corps or other volunteer service). Students are notified via the award letter if they are eligible for this program. The Unsubsidized Federal Stafford Loan Program is available to students who do not demonstrate financial need. However, the student is responsible for the interest which accrues during enrollment. This interest may be capitalized. Independent students may borrow both the subsidized and unsubsidized loans.

State Grants
Several states offer grants to their residents for study at Saint Joseph’s College. It is expected that students apply for such funds, and this is generally accomplished through the completion of the Free Application for Federal Student Aid. Some states may require additional application materials. Students should contact their guidance counselor or state’s scholarship agency for more information.