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Applying for Financial Aid

Financial Aid
How to Apply

Financial Aid

Degree-seeking students who are enrolled at least half-time may be eligible for financial aid. Students wishing to use financial aid must complete a Free Application for Federal Student Aid (FAFSA) as soon as possible.

Student financial aid award packages will include the Federal Stafford Loan products, if eligible. Upon successful completion of the application and guarantee process, loan proceeds will be credited directly to the student's tuition account. If a credit occurs on the tuition account as a result of the student loan, a refund of that credit will occur within 10 business days.

Undergraduate students may be eligible for the Federal Pell Grant and/or the Minnesota State Grant. Grants will be applied to the student's tuition account at the midpoint of the semester. If a credit occurs on the tuition account as a result of the grant, a refund of that credit will occur within 10 business days.

Students receiving outside scholarships must contact the Financial Aid Office immediately upon notification of the scholarship award. Outside scholarships will be credited to the student's tuition account after the student has completed all procedures requested by the outside agency and the university has received the funds.

Saint Mary's offers a limited number of scholarships annually. Information regarding those scholarships will be announced in the Schools of Graduate and Professional Programs newsletter.

Students whose financial aid award package does not cover the university determined cost of education should contact the financial aid office to receive information on alternative loan options.

How to Apply for Financial Aid

Step 1: Free Application for Federal Student Aid

Step 2: Receive Student Aid Report (SAR)

  • Review SAR for incorrect information, missing information or a request for additional documentation.
  • Make corrections to FAFSA.
  • If additional documentation is required, submit request to the appropriate office.

Step 3: Verify eligibility to receive federal student aid

  • Be a fully, admitted degree seeking student at Saint Mary's University of Minnesota. (Check your application status.)
  • Be registered as a half-time student; typically defined as three graduate credits at Saint Mary's University of Minnesota.

Step 4: Receive Award Letter from Financial Aid Office

  • A financial aid award letter will be sent six to eight weeks after completed FAFSA has been received and student is fully admitted and registered as a half-time student.
  • The financial aid award letter will state the type and amount of the Federal Stafford Loan you may borrow.
  • Complete the Stafford Loan Entrance Counseling and Master Promissory Note.
  • Return the required paperwork to the appropriate Financial Aid Office.

Step 5: Disbursement of Financial Aid

  • Loans will be applied to a student's tuition account within 10 days of the scheduled first semester disbursement date.
  • After tuition has been paid, any excess funds will be returned to the student by the Business Office within 10 business days as long as the student maintains a half-time status.

Return Financial Aid paperwork and additional documentation to Saint Mary's University of Minnesota, based on location:

Twin Cities Campus (includes programs administered in Apple Valley, Minnetonka, and Rochester)
Financial Aid Office
2500 Park Avenue
Minneapolis, MN 55404

Winona Campus
Financial Aid Office
700 Terrace Heights #5
Winona, MN 55987