Financial Aid

We know that financing your college education is very important to you. That’s why St. Thomas Aquinas College is committed to providing you with the resources you need to make your dreams a reality. Approximately 80% of our students receive some form of financial aid including scholarships or grant money. St. Thomas accepts students regardless of their finances and works to create a financial aid package that helps make your education affordable.

Financial aid is any form of monetary support that assists you in paying for college. Financial aid comes in many forms:

Scholarships are awarded to students based on criteria set by the College, or in some cases, an external organization or foundation. In many cases they are based on your academic achievement either in high school or at your previous college. All scholarships are awarded to you based on your commitment to enroll at the College and they do not need to be paid back. Some scholarships are provided by external organizations and foundations and the College is very often involved in the selection process. In some cases, students are identified on their own by an external organization and the funds are paid either to the college or to the student for educational expenses. The College’s Enrollment Management Office reviews all applicants for potential scholarships available either through the college’s own endowment funds or from outside sources. Students may also apply to outside organizations on their own and need only notify the college of any forthcoming awards.

Grants are awarded to students based on criteria set by the College, or in some cases, an external organization or foundation. In most cases, grants are awarded based on financial need, and in some cases require a certain level of academic achievement either as an entering student or as a continuing student when renewing an application. These funds do not need to be paid back. Federal and state governments are one source of grants, while there are other organizations that provide grants to qualified students. In some cases, students are identified on their own by an external organization and the funds are paid either to the college or to the student for educational expenses. The College’s Enrollment Management Office reviews all applicants for potential scholarships available either through the college’s own endowment funds or from outside sources. Students may also apply to outside organizations on their own and need only notify the college of any forthcoming awards.

Loans are forms of financial aid that must be paid back with interest to the lender over an extended period of time. There are different types of loans, some subsidized and some unsubsidized and the lender must be clear on which type of loan you are applying for at the time. The College’s financial aid office will help you create the most cost effective package available to you, but in the end, you must make the financial decisions about which aid tools to use to finance your education.

Work-Study is federal grant program that provides an opportunity for qualified students to receive a job through the College. In most cases students work at the college and in some cases they are placed in the community. Students choose their place of employment, and the wages are minimal, but the award is only payable through the work study program. Students awarded $2,000, as an example, are required to work 8-10 hours per week for two semesters in order to be paid a paycheck that is subsidized by the federal work study program. This enables students to work on campus and continue to be involved in other campus activities.

Payment Plans allow students to structure tuition payments and other fees into installments throughout the year instead of paying a lump sum at the beginning of each semester.

In order to receive financial aid, undergraduate students must meet each of the following conditions.

At St. Thomas Aquinas, all that is required to begin the process of applying for financial aid is the completion and submission of the Free Application for Federal Student Aid (FAFSA) form.
Other institutions may require you to fill out additional forms that require a filing fee, but because we want to make this process as easy as possible, we only require you to file the FAFSA
Form and assess your family’s ability to pay for college. This assessment results in the calculation of your EFC (Expected Family Contribution). Your EFC is the amount of money that the federal government believes your family can contribute to your education.

Many families are under the impression that they shouldn’t bother filing the FAFSA form because their income is too high and they won’t receive any financial aid. This is a common misconception for two reasons:

File the FAFSA form online at www.fafsa.ed.gov. You and one parent should first apply for an electronic PIN at www.pin.ed.gov. If you need assistance completing the form, you may also visit www.ed.gov/prog_info/sfa/fafsa. Submit this form as soon as possible after January 1. St. Thomas recommends that you complete the FAFSA by February 15 to receive maximum consideration for aid. Please keep in mind that in order to file your FAFSA form early, you must first complete your tax returns.
Results.In approximately 2 to 3 weeks after you file the FAFSA form and electronically, you can expect to hear back from the federal government. The federal government will send you a form called the Student Aid Report (SAR). At the same time this report is sent to you, it will also be sent electronically to St. Thomas Aquinas and any other institutions you indicated on the form. The SAR will indicate your Expected Family Contribution (EFC). In other words, the federal government will tell you how much money they feel your family can contribute to the total cost of your education.

Review Your Student Aid Report. It is important that you review your SAR very carefully; often the federal government will notify you of missing or inaccurate information that is needed to fully process your FAFSA. Please read through the SAR completely to ensure that no additional information is being requested.

Your Financial Aid Package. St. Thomas Aquinas will take the results of your processed FAFSA and put together a financial aid package for you. Financial aid packages are sent to students starting in March. Please note that notification of many merit-based scholarships may occur prior to this time; usually these notifications are sent out a few days after notification of admission.

Internal research at St. Thomas Aquinas indicates that students who file the FAFSA form are 10 percent more likely to graduate than students who do not. That is because these students have a financial safety net to assist them in paying for their education. So, if there’s one thing for you to remember, it’s that you should definitely file the FAFSA form.

Financial aid exists to fill the gap between what the federal government has determined your family can pay (EFC) and what it costs to attend the St. Thomas Aquinas College creates your financial aid package by taking the total cost of education at the College (tuition, fees, room and board, books and travel, personal and miscellaneous expenses) and deducting the Expected Family Contribution (EFC) calculated by the federal government. The remainder is your financial need.

Cost of Education – EFC = Financial Need.
Depending on the amount of financial need, you may or may not be eligible for need-based grants. Please also note that scholarships from St. Thomas Aquinas are based on merit, not financial need. Your financial need will have no bearing on scholarships awarded by the College.

Financial Aid opportunities at St. Thomas Aquinas College include: scholarships, grants, loans, and work study programs. Grant, loan and work study eligibility can only be determined by completing the FAFSA form. Scholarship eligibility is determined upon application to the College, however, scholarship funds will not be applied to a student’s account if the FAFSA form is not filed. Students must list the FAFSA Code for each of the institutions they want to send their financial information to. (STAC FAFSA Code: 002832)

Scholarships from many different sources are available to students. For example, your state of residence may award you a scholarship based on your academic achievement. There are also many outside scholarships available to students. Check with your parents’ employers, local organizations such as the Knights of Columbus and look through guidebooks in your college guidance office or surf the Web. Helpful Web sites are fastweb.com or finaid.com St. Thomas Aquinas also has many scholarship opportunities for you.

Partial tuition awards to incoming freshmen & transfers. Renewable contingent upon satisfactory grade point average.

Eligibility: Open to high school seniors and transfer students and awarded to full-time students with excellent credentials.
Amounts: Scholarships may range from $1,000 to full tuition and are awarded for one year and renewable on condition that the student maintains the academic standards required by St Thomas Aquinas College.

Basis for Decision: the Admissions Scholarship Selection Committee, which bases the award on academic excellence, financial need and citizenship qualities review Applicant’s credentials.
No Need To Apply: All new applicants will be considered for awards based upon the quality of their academic credentials. Various scholarship programs have specific eligibility requirements and the Office of Admissions will review each applicant with regard to available scholarships.

This Full Tuition (2008-09, $19,500) Scholarship is available for eligible incoming freshmen. Applicants must have a re-calculated high school GPA of 3.5 or higher in major subjects at the time of application; combined SAT scores of at least 1200 on the Critical Reading and Math sections with no section less than 550 or ACT composite of 27. Incoming freshmen meeting these initial requirements will be reviewed and may be contacted for an interview with the Honors Program Director. Students who feel they may be eligible for this scholarship should check the Honors Program box under the Admissions Criteria on their College application.

Presidential Leadership Scholarship
This $7,000 Annual Scholarship ($28,000 over four years) is awarded to incoming freshmen with a re-calculated high school GPA of 3.4 or higher in the major subjects at the time of application or combined SAT scores of at least 1100 on the Critical Reading and Math sections (or the equivalent ACT composite of 24).

Dean’s Scholarship
This $5,000 Annual Scholarship ($20,000 over four years) is awarded to incoming freshmen with a re-calculated high school GPA of 3.2 or higher in the major subjects at the time of application or combined SAT scores of at least 1050 on the Critical Reading and Math sections (or the equivalent ACT composite of 23).

Alumni Scholarship
This $3,000 Annual Scholarship ($12,000 over four years) is awarded to incoming freshmen with a re-calculated high school GPA of 3.0 or higher in the major subjects at the time of application AND combined SAT scores of at least 1000 on the Critical Reading and Math sections (or the equivalent ACT composite of 22).

Presidential Transfer Scholarship*
This $6,000 Annual Scholarship is awarded to incoming transfers with a transfer GPA of 3.6 or higher.

Dean’s Transfer Scholarship*
This $4,000 Annual Scholarship is awarded to incoming transfers with a transfer GPA of 3.4-3.59.

Alumni Transfer Scholarship*
This $2,000 Annual Scholarship is awarded to incoming transfers with a transfer GPA of 3.0-3.39.

*If a transfer student attended more than one college, the transfer GPA is taken from the last college attended as long as they have earned 15 or more credits at that college.

Commemorative Scholarships
These $500 to $2,000 Annual Scholarships vary based on high school academic profiles, intended majors, and community service histories. These scholarships were established by donors and the endowment interest generated on these investments yields a number of scholarships for new students on an annual basis. These awards are renewable, and all applicants are reviewed by the Enrollment Management Office. Students do not need to apply for these awards. Every student is reviewed and their achievements are taken into consideration.

St. Thomas provides need-based grants to qualified students with the greatest financial needs.

Federal Pell Grant
Eligibility: Full-time and less than half-time matriculating students with exceptional need and who have not completed a bachelor’s degree.

Amounts: Awards will range from $400 to $4,731 yearly. Total funding is based on congressional authorization.

Basis For Decision:Grants are awarded based on financial need and educational costs. Students must maintain normal academic progress.

How To Apply:Applicants must complete the Free Application for Federal Student Aid (FAFSA) which is available from the College’s Financial Aid Office or a High School Guidance Office.

Federal Supplemental Educational Opportunity Grant (FSEOG)
Eligibility: Full-time matriculating students who have exceptional need.

Basis For Decision:Awards are made based on financial need. The severity of the need ultimately determines the value of the FSEOG.

How To Apply: Applicants must file the Free Application for Federal Student Aid (FAFSA).

Athletic Grants
Eligibility: Awarded to full-time students in recognition of demonstrated
athletic ability, together with academic achievement and financial need.

Amounts: Awards range from $200 to full-tuition yearly. Grants may be renewed upon the recommendation of the Athletic Director if the student maintains good standing while participating in athletic activity.

Basis For Decision: Coaches, through the Athletic Director, make recommendations to the Admissions and Scholarship Committee. The Committee determines allocation of funds.

How To Apply: Each applicant should write the Athletic Director and request an interview. The student must also submit a Free Application for Federal Student Aid (FAFSA).

New York State Tuition Assistance Program (TAP)
Eligibility: New York State residents whose NET family income is not over $85,000 and are matriculated full-time students.

Amounts: Awards range from $500 to $5,000* yearly. Students must reapply each year. *According to year in school.

Basis For Decision: Grants are awarded by New York State based on net family income. Students must maintain normal academic progress and achieve required cumulative index each semester as outlined in this catalog.

How To Apply: Applicants must complete the Free Application for Federal Student Aid (FAFSA). The U.S. Department of Education will forward the information to the New York State Higher Education Services Corporation (NYSHESC). NYSHESC will then produce an “ETA” for you to complete and return to NYSHESC.

Federal Supplemental Educational Opportunity Grant (FSEOG)
Eligibility: Full-time matriculating students who have exceptional need.

Basis For Decision: Awards are made based on financial need. The severity of the need ultimately determines the value of the FSEOG.

How To Apply: Applicants must file the Free Application for Federal Student Aid (FAFSA).

Higher Education Opportunity Program (HEOP)
Eligibility: NYS residents admitted to the College through HEOP.

Basis For Decision: HEOP grants are available only to HEOP students in good standing.

How To Apply: Applicants must be determined eligible prior to their first college matriculation. Prospective freshmen and transfers from other opportunity programs should check HEOP on their application for admission. Applicants must file a free application for Federal Student Aid (FAFSA).

Federal Perkins Loan
Eligibility: Enrolled full-time students who demonstrate financial need and fulfill federal guidelines.

Amounts: Maximum of $16,000 over four years at 5% interest. Amount of loan determined by federal funding. Loan made directly to students.

Basis For Decision: Based on financial need. Repayment starts nine (9) months after borrower ceases to be at least half time student. Cancellation and deferment allowed under certain conditions.

How To Apply: Applicants must file a Free Application for Federal Student Aid (FAFSA).

Federal Stafford Loan
Eligibility: Students carrying at least 6 credits. All students must file a Free Application for Federal Student Aid (FAFSA) to determine eligibility.

Amounts: Yearly amounts vary from $3,500 to $5,500 according to student’s year in school, not to exceed aggregate limit of $23,000 for undergraduates, $8,500 per year, aggregate limit $65,500 for graduates. Interest rates may vary depending on when loans were first taken.

Basis For Decision: Subsidized Federal Stafford Loan: No interest accrues while attending college if student has financial need. Unsubsidized Federal Stafford Loan: For students who do not demonstrate financial need, Federal Stafford loans are available, but the student is liable for interest that accrues while in school. Repayment starts six (6) months after graduation or withdrawal.

How To Apply: Loan applications are available from most banks, loan associations and credit unions. Early application is advised late Spring for Fall application.

Federal Parent Loans for Undergraduate Students (PLUS)
Eligibility: Parents of St. Thomas Aquinas College students carrying at least a half-time program.

Basis For Decision: Parent must enter repayment of interest and principal within 60 days of disbursement date. Interest rates may vary depending on when loans were first taken. Deferment allowed under certain conditions.

How To Apply: Loan applications available through most banks. Processing time may take 6-8 weeks. Apply in late Spring for All Academic Year.

Federally funded work study positions are available on and off campus. In order to apply for these jobs, you must file a FAFSA. The earnings from this position will not be counted in the upcoming tax year and, therefore, will not be calculated into you eligibility to pay (EFC). While you may be awarded a specific amount, you will only earn the amount equivalent to the number of hours worked. This amount will not be deducted from your bill, rather it will be paid out incrementally through paychecks, as it is earned.

Federal Work-Study Program (FWS)
Eligibility: Students who demonstrate financial need, are enrolled full-time, and must earn a part of their educational expenses.

Amounts: Students are paid minimum wages and usually work between 7-15 hours weekly, earning between $500 and $2,000 yearly.

How To Apply: Applicants must submit a Free Application for Federal Student Aid (FAFSA).

Tuition Management Systems, Inc., Warwick, RI 02866, administrates the College’s payment plans. If you are interested in signing up for a payment plan please call 1-800-722-4867 or go to www.afford.com.

Annual Payment Plan
The annual plan is available to cover the Fall and Spring semesters over 10 equal monthly payments. Cost is $65 for the year and payments start in July. Failure to pay on the due dates will result in late fees.

Semester Payment Plan
This plan allows for a schedule of four (4) equal payments. For the Fall semester, the first payment is due by the first week in August; the second is due in September; the third is due in October; and the fourth payment is due in November. For the Spring semester, the first payment is due by the first week in January; the second is due in February; the third is due in March; and the fourth is due in April. This payment plans carries a $47 charge per semester. Failure to pay on the due dates will result in late fees.

Phone Resources
St. Thomas Aquinas Office of Admissions                                        845-398-4100
St. Thomas Aquinas Office of Financial Aid                                      845-398-4097
Federal Pell Grant Information                                                         1-800-433-3243
Tuition Management Systems, Inc.                                                  1-800-722-4867

Other Resources for St. Thomas Aquinas College
FAFSA Code: 002832
TAP Code: 0830

	Full - Time Undergraduate Tuition & Fees

Tuition per year (12 to 16 credits per semester)		$19,500.00
General Fee per year		$300.00
Technology Fee per year		$200.00
Room & Board (annually) 19 meals/wk		$9,730.00

	Part-Time Undergraduate Tuition & Fees
Tuition per credit		$630.00
General Fee per year		$150.00*
Technology Fee per year		$100.00

*This General Fee Includes parking privileges on campus and eligibility for participation in various student activities Special Note the College reserves the right to alter tution and fees when such changes become necessary.

Financial Aid Office

Annamaria Chrissotimos
Director of Financial Aid
achrisso@stac.edu
(845)398-4098

Jean Marie Mohr
Associate Director of Financial Aid
jmohr@stac.edu
(845) 398-4106

Gloria Di Gennaro
Financial Aid Coordinator
gdigenna@stac.edu
(845)398-4097

Mailing address:
St. Thomas Aquinas College
Office of Financial Aid
125 Route 340
Sparkill, NY 10976
(845)398-4097 (voice)
(845)398-4114 (fax)

The Financial Aid Office is open Monday - Thursday from 9:00 AM - 5:00 PM and Friday from
9:00 AM - 4:00 PM.