The primary purpose of the financial aid program of Saint Mary’s University is to provide assistance to students with financial need who would otherwise be unable to receive an undergraduate education at the university. Saint Mary’s University expects both the student and the family to make a realistic contribution to the payment of the student’s expenses. In determining the extent of a student’s financial need, the university takes into account the financial resources of the parents and of the students, including income, assets and other financial resources. Financial need exists when the student’s estimated university expenses exceed their estimated resources.

Financial aid is awarded on a non-discriminating basis, without regard to race, gender, intended major or class level. Financial aid is offered only to enrolled students and to students who have been accepted for admission to Saint Mary’s University. Aid recipients must carry at least a half-time course load. Students who qualify will be awarded a financial aid package (contingent upon the availability of funds) to meet their need. This package will usually be composed of 50%–60% grant money and 40%–50% loan and work funds. Applications for all financial aid programs must be renewed each year.

Saint Mary’s University also recognizes academic excellence within the policy of demonstrated financial need. If students with financial need meet the academic criteria, they may receive up to 65%–75% of the financial need in the form of a scholarship. For more information, contact the vice president for admission or the office of financial aid.

Because the university realizes that a student might have difficulty obtaining adequate finances, financial aid and admissions personnel are more than willing to discuss the various financial aid programs available to the student. The university treats all materials and correspondence as confidential. As a recipient of financial aid, the student is the beneficiary of funds made available by a variety of agencies: federal, state, institutional and private. The contributed salaries of the Christian Brothers who work at the university are an example of a resource available for student aid. In accepting an aid award, students indicate that they have read and understand the obligations and responsibilities of an aid recipient. Failure to comply with the stated regulations places the liability directly upon the student. It is important that students understand the various types of financial aid they may receive. If a loan is part of the aid package, the student must sign a promissory note. This is a legally binding obligation to repay the loan according to the stated conditions. Students may be required to attend loan counseling before receiving their loan check. In accepting campus employment as part of the aid package, the student agrees to take the initiative in obtaining a job and to work the number of hours necessary to earn the amount of money offered in the work award. In accepting any portion of a Saint Mary’s financial aid package, students agree that the financial aid office will have control over all other financial assistance they might receive. This supervision is necessary because federal and state regulations require that the total amount of assistance must not exceed students’ documented need. Thus, students should work closely with the financial aid office to be sure that all conditions of the aid package are met.

Analysis of the applicant’s financial resources is a required step in the university’s review of requests for financial aid. The university accepts the Free Application for Federal Student Aid (FAFSA). Appropriate forms can be obtained from the applicant’s high school counselor or from the Saint Mary’s financial aid office or admission office. Using the established guidelines for determining the applicant’s estimated resources, the director of financial aid determines the most equitable aid package available to meet the demonstrated need. Saint Mary’s University also may require of financial aid recipients a copy of the parents’ prior-year income tax return; e.g., the 2005–2006 academic year aid package is based upon the income for the 2004 calendar year. Failure to comply with this requirement can result in the termination of any financial aid administered through Saint Mary’s University.

Financial aid application and correspondence should be directed to:
   Financial Aid Office
   Saint Mary’s University
   700 Terrace Heights #5
   Winona, MN 55987-1399

Financial Aid Programs

The following funds are used in awarding need-based financial aid: Saint Mary’s Scholarship and Grant Programs, Federal Supplemental Educational Opportunity Grant (SEOG), Federal Pell Grant, Minnesota State Grant, Federal Perkins, Federal Stafford student loan, federal and state work study. Information about the various financial aid programs available through Saint Mary’s University (needbased or merit awards) is available upon request from the admission or financial aid offices.

Financial Aid Refund Policy

Federal law requires institutions and/or the student to return the portion of the financial aid that is considered UNEARNED. This policy applies only when, during the term, a student withdraws from ALL classes AND the percentage of the term completed is equal to or less than 60%. Course load reductions that leave a student with at least one remaining class are not affected by this policy. The following example illustrates how the new policy works:

1. Calculate the percentage of the term completed (# days completed / # days in semester X 100). If greater than 60%, then no return of financial aid is required. If less than or equal to 60%, then proceed to step #2.
2. Determine the percentage of financial aid EARNED by multiplying the total amount of financial aid received for the term by the percentage in step #1. The student is permitted to keep this amount in his/her student account.
3. Determine the amount of UNEARNED financial aid that must be returned to financial aid programs accounts by subtracting the amount of EARNED financial aid (determined in step # 2) from the total amount of financial aid received for the term.
4. There are specific calculations that determine how much of the UNEARNED financial aid must be returned to the federal program(s) by the institution and how much must be returned by the student.
5. There is a prescribed order in which funds must be returned to the programs: (1) federal loans, (2) federal grants, (3) other federal aid.

It is possible, depending on the date of withdrawal, to have no refund of tuition and fees, although part of the financial aid may be required to be returned. For example, if a student withdraws from the university after the end of ALL refund periods, it is possible that the student may owe the full amount of billed costs. Even if the student does not finish the term, he/she may still be charged for these fees. Furthermore, if the withdrawal occurs after the end of ALL refund periods but on or before the 60% of the term is completed, the student may be required to repay all or part of the financial aid as determined in steps #1–5 above. If the student is required to repay all or part of the financial aid, he/she will be notified of the amount required to be repaid. In addition, future registration at Saint Mary’s University and requests for academic transcripts may be denied until repayment is complete. To initiate the refund process, obtain a withdrawal form from the academic advising office. After completing the form and getting the required signatures, the registrar’s office will withdraw the student and the business office will calculate any refund of fees. The financial aid office will perform the appropriate calculations to determine the amounts (if any) of the financial aid that must be returned to the program accounts.

Satisfactory Academic Progress

To remain eligible for financial aid at Saint Mary’s University, an undergraduate student must maintain satisfactory academic progress: full-time students must complete 24 semester credits per academic year with a cumulative GPA of 1.600 after one semester; 1.750 after two semesters; 1.900 after three semesters; and 2.000 at the end of any subsequent semester. Students must complete their undergraduate college objective in a maximum of 12 semesters to remain eligible for federal financial aid.

The director of financial aid reviews at the end of each semester the student’s semester and cumulative GPA for satisfactory academic progress. Total credits earned for the year are reviewed at the end of the academic year, along with cumulative GPA. Repeated or audited courses are not counted towards the total credits required to maintain satisfactory academic progress. Students who do not maintain satisfactory academic progress are notified in writing. Students who are accepted and transfer to Saint Mary’s University will be considered to be making satisfactory academic progress. At the end of their first semester at Saint Mary’s, they will be reviewed for continued satisfactory progress as defined above. Satisfactory academic progress must be maintained during all periods of enrollment, whether or not financial aid is being received, if a student wishes to apply for and be entitled to financial aid eligibility. Satisfactory academic progress in previous semesters will be reviewed for students applying for aid for the first time. Students who do not maintain satisfactory academic progress will be placed on financial aid probation for one semester. Failure to meet standards of progress at the end of that semester will result in loss of continued aid eligibility. A statement on standards of satisfactory academic progress, conditions for appeal, and reinstatement of aid eligibility is available from the financial aid office upon request.

Additional Financial Assistance

Non-need based alternative loan programs are available to assist families in financing their educational costs. Contact the financial aid office in student services for details on these programs.

Saint Mary’s University is committed to providing assistance to students with financial need who would otherwise be unable to receive an education at the university. A portion of the funds from tuition, fees and unrestricted gifts are budgeted as institutional aid. In addition, named scholarships are funded by gifts restricted to those individual funds; these outside sources help increase the aid dollars available for students. An annual scholarship represents an annual commitment to Saint Mary’s from an organization or individual and the entire gift is awarded in the next academic year. Endowed scholarships are funded by gifts from organizations and individuals and these funds are invested. By policy, Saint Mary’s University awards scholarships equivalent to 5% of the scholarship principal. Earnings in excess of 5% are reinvested in the fund, making endowed scholarships permanent and growing sources of financial support to students.

General requirements for scholarships require that the student is a Winona campus full-time undergraduate student and has demonstrated financial need. Some scholarships involve a selection process and require criteria such as demonstration of leadership qualities, academic merit, or theatre, art, or music skills. Students apply separately for these scholarships and the recipients are chosen by a university selection committee. New students should contact admissions and current students should contact academic advising for information about available scholarships.

UNDERGRADUATE SCHOLARSHIPS WITH A SELECTION PROCESS

University Funded
Presidential Academic
Saint Cecilia Music Scholarship
Saint Luke Art Scholarship
Saint Thomas More Academic Scholarship

Tomorrow’s Leaders Endowed Program
Frederick Gardner Cottrell Scholarship
Delwiche Family Scholarship
A. E. Dick ’32 Memorial Scholarship
Marjorie and William Galvin ’50 Scholarship
Dr. William ’39 and Jean Hendrickson Scholarship
Dr. John Hoffman Scholarship
Lillian Davis Hogan Scholarship
Marian Scholarship
Max E. McGrath ’49 Scholarship
John F. O’Connell ’46 Family Scholarship
Catherine M. Ross Scholarship
William R. and Edna B. Ross Endowed Scholarship
Wagnild Family Scholarship
Harry J. Welch, Jr. Scholarship
Richard T. Wojcik ’60 Ethics in Business Scholarship

Endowed
Greg Brosig ’81 Memorial Scholarship
Father Andrew Fabian Endowed Scholarship
Arthur N. Flodstrom ’64 Memorial Scholarship
John Johnson Endowed Scholarship
David Kuhn ’80 Memorial Scholarship
Dorothy B. Magnus Scholarship Fund
Mabel Magnus Memorial Scholarship
Ochrymowycz Family Foreign Language Scholarship
Phi Mu Alpha Sinfonia/Kevin P. O’Connell ’73 Scholarship
Brother Alphonsus Pluth ’39 Endowed Scholarship
St. Jude Alumni Scholarship
Brother Ambrose Trusk ’43 Chemistry Scholarship
Frank and Helen Walsh Memorial Scholarship Fund
Brother Laurence Walther Memorial Endowed Scholarship
Wasie Foundation Scholarship

Annual
Alumni Children Scholarship
Joan Costello Scholarship
Jelinek Metz McDonald, Ltd. Scholarship
David Leschke Hellstrom ’85 Scholarship
Minnesota Society of Certified Public Accountants Scholarship
John Paulson Jazz Scholarship

UNDERGRADUATE SCHOLARSHIPS ASSIGNED TO STUDENTS BASED ON FINANCIAL NEED

Endowed
James F. Bachmeier ’66 Memorial Scholarship
Alfred J. Bambenek Scholarship
Archbishop Binz Scholarship
Mark Carey ’67 Memorial Scholarship
Christian Brothers Scholarship
Jerome W. Clark Memorial Scholarship
Class of 1954 Anniversary Scholarship
Class of 1957 Billings-Hickey Scholarship
Clifford-Hayes Endowed Scholarship
Philip H. Corboy-Mary A. Dempsey Endowed Scholarship
Rocco J. Corso ’67 Scholarship
Cristo Rey Alumni Scholarship
Brother Leonard Courtney ’37 Scholarship
Clayton J. and Helen Dooley and Anthony and Irene Drvota Scholarship
Paul ’50 and Elaine Drack Family Scholarship
Tom Etten Scholarship (Father Thomas J. Etten Scholarship)
Michael M. Feeney ’64 Scholarship
Charles J. Fiss Scholarship in Business Administration
Frankard Scholarship
Herbert Garvin Scholarship
Jul Gernes ’61 Memorial Scholarship
Sister Giovanni Scholarship
Raymond H. Groble, Jr. ’39 Endowed Memorial Scholarship
Monsignor Julius C. Haun Scholarship
John M. and Louise V. Healy Memorial Scholarship
William Randolph Hearst Foundation Scholarship
Bishop Patrick R. Heffron Scholarship
T. R. Hennessy Scholarship
John J. Hoffman Memorial Scholarship
Robert Hough ’40 Memorial Scholarship
IBM Scholarship Fund
Johnson-Keenan Family Scholarship
Kelly Family Scholarship
Knights of Columbus Owatonna Council No. 945 Scholarship
Gerald ’63 and Lucia Labonte Scholarship
Lanoga Corporation Scholarship
Anton and Mary Ledworowski Scholarship
Thomas J. Linder ’81 Memorial Scholarship
Anne Locher ’97 Memorial Scholarship
Brother J. Raymond Long ’43 Scholarship
Brother Urban Lucken ’35 Scholarship
L. W. Mack ’66 Scholarship Fund
Paul T. Madigan ’55 Scholarship
Lt. Thomas F. Meagher, C.P.D. Scholarship
B. J. Meixner Scholarship
Merchants National Bank Scholarship
Merrill Scholarship
Phillip M. Morris ’42 Scholarship
Lottia Murbach Scholarship
Jack Nankivil Memorial Scholarship
Officer Denis O’Leary Scholarship
Joseph C. and Marie F. Page Memorial Scholarship
John F. and Christine E. Parmer Scholarship
Dominic and Rosina Polizzotto Memorial Scholarship
Robert J. Reardon Memorial Scholarship
Jean A. Joyce Regan Endowed Scholarship
Regan Sisters Scholarship
Douglas and Ruth Robinson Scholarship
Helen C. Semler Scholarship
Sieve Family Scholarship
Timothy L. Stapleton ’95 Memorial Scholarship
Maurice Joseph Sullivan Memorial Scholarship
Tozer Scholarship
Wells Fargo Bank (Winona) Scholarship
Peter F. Wentink ’68 Memorial Scholarship
Lawrence J. Wlazik ’73 Scholarship
Robert M. Woods Memorial Scholarship
James R. Young ’73 Memorial Scholarship

Annual
Charles and Ellora Alliss Educational Foundation Scholarship
Christian Brothers Scholarship
Jay Johnson ’90 Memorial Scholarship
Frank J. Lewis Foundation Scholarship
Minnesota Mining and Manufacturing (3M) Scholarship
National Recoveries Inc. Scholarship Program
Regan Family Scholarship
Rotary Club of Winona Scholarship
Bob Speltz ’65 Memorial Scholarship
Max F. Steinbauer Family Scholarship
Vennetti Family Scholarship
Susan Ann Wall ’97 Memorial Scholarship
Winona Senior Friendship Center Scholarship

Minnesota Private College Fund Scholarships (Annual)
ADC Telecommunications, Inc. Foundation Scholarship
American Express Company Scholarship
Buuck Family Foundation Scholarship
Cargill Foundation Diversity Scholarship
B.C. Gamble and P.W. Skogmo Fund of the Minneapolis Foundation Scholarship
Medtronic Foundation Scholarship
Meslow First Generation Scholarship
Minnesota Mutual Foundation Scholarship
Minnesota Power Scholarship
Minnesota Scholars Fund
MPCF Directors Scholarship
Jay and Rose Phillips Family Foundation Scholarship
Rahr Foundation Scholarship
St. Paul Companies, Inc. Urban Education Scholarship
Supervalu Scholarship
James R. Thorpe Foundation
Thrivent Financial Community Service Scholarship
UPS Foundation Scholarship
U.S. Bancorp Foundation Scholarship
Wells Fargo Foundation Scholarship
West Group Scholarship
Xcel Energy Foundation Scholarship