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Financial Aid
Traditional Undergraduate Students
Guide to Federal and State Grants
| Federal Pell Grant |
Eligibility for a Federal Pell Grant is based on financial
need. Funds are considered gift assistance and do not have
to be repaid. Pell Grants are available only to undergraduate
students who have not earned a bachelor’s or professional
degree.
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| Federal SEOG |
A Federal Supplemental Educational Opportunity Grant (SEOG)
is for undergraduates with exceptional financial need. It
is targeted for students with the lowest EFCs and gives
priority to students who receive Federal Pell Grants. An
FSEOG doesn't have to be repaid.
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| Federal ACG |
The Academic Competitiveness Grant (ACG) is
available to undergraduate students who are U.S. citizens,
Federal Pell Grant recipients, have completed a rigorous high
school program, and are enrolled full-time and in their first
or second year of college.
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| Federal SMART |
The National Science and Mathematics Access
to Retain Talent Grant (SMART) is available to undergraduate
students who are U.S. citizens, Federal Pell Grant recipients
and who are enrolled full-time in their third or fourth year
pursuing a major in mathematics, science (including physical,
life and computer sciences) technology, engineering or critical
foreign languages.
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| Illinois Student Assistance Commission |
The Monetary Award Program (MAP) provides need-based grants
to Illinois residents. In addition to MAP, the Illinois
Student Assistance Commission (ISAC) administers seven specialized
grant programs.
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Guide to Institutional Scholarships
Institutional grants and scholarships are awarded during the initial
process of admission to the University and are reserved for full-time
traditional undergraduate Benedictine University students.
Incoming
Freshman Scholarships
Incoming
Transfer Scholarships
Institutional Scholarship Terms and Conditions
- Full-time enrollment is defined as 12 or more semester hours
per term.
- Funds are applied to Fall and Spring semesters only.
- The maximum number of years a student is eligible to receive
institutional awards is based on his/her grade level at the
time of admission. For example: An incoming freshman student
is limited to a maximum of four (4) years or eight (8) terms
of institutional awards; an incoming sophomore student is limited
to a maximum of three (3) years or six (6) terms; etc.
- Students must maintain the required cumulative GPA for their
merit scholarship to be renewed each year. Failure to do so
will result in a loss of the scholarship.
- The following scholarships are mutually exclusive and may
not be combined: Presidential Award, St.Benedict Award, Benedictine
Eagle Award, Scholars Program Award, Phi Theta Kappa Award.
- All institutional scholarships are designated for Benedictine
University tuition only. The total amount of institutional assistance
(from all sources) awarded will not exceed the standard full-time
tuition rate, which is based on enrollment of 12-18 credit hours.
If a returning student is receiving institutional assistance
is designated to receive Benedictine University endowed scholarships
and the total of these awards exceeds full-time tuition, the
student will be allowed to receive additional funds to help
defray the mandatory full-time fees (activity, health and technology).
Guide to Endowed Scholarships
Currently enrolled traditional undergraduate students can apply
for Endowed
Scholarships. A number of endowed scholarship funds have been
established through generous gifts to the University. Qualification
criteria as well as award amounts vary as designated by the donor(s).
Students awarded an endowed scholarship who have previously received
an award letter without it may have other awards adjusted in part
or in full.
Guide to Federal Work-Study Program
| Federal Work-Study Program |
An employment program for financially
needy undergraduate and graduate students to help meet their
educational expenses.
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Guide to Federal Student Loans
| Federal Perkins Loan |
A Federal Perkins Loan is a low-interest (5 % fixed rate)
loan for both undergraduate and graduate students with financial
need. Federal Perkins Loan funds must be repaid, usually
after nine months after ceasing attendance at the University.
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| Federal Stafford Loans |
Federal Family Education Loan (FFEL) Stafford
Loans are either subsidized or unsubsidized.
A subsidized loan is awarded on the basis of financial
need and the federal government “subsidizes” the
interest during your enrollment period.
An unsubsidized loan is not awarded on the basis of need.
The student is charged interest from the time the loan is
disbursed until it’s repaid in full. If interest is
allowed to accrue while the student is in school or during
other periods of nonpayment, it will be "capitalized"—that
is, the interest will be added to the principal amount of
the loan, and additional interest changed will be based
on that higher amount.
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| Federal PLUS Loan |
The Federal PLUS is a loan available to the parent(s) of
the dependent student. Repayment begins 60 days after the
loan has been fully disbursed.
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Last updated
January 23, 2009 2:11 PM
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