Financial aid takes many forms that fall into three categories: merit-based, need-based and supplemental aid. Here are some examples of each.
These scholarships are based on academic, service, athletic or other areas of noteworthy achievement. They are grants and do not have to paid back.
Our academic scholarships for high-achieving new freshmen can save you $7,000 to $20,000 annually. And you’ll automatically be considered for them when you apply.
Our specialty scholarships (the Sorin Award and the Moreau Scholarship) are awarded to students who graduate from Holy Cross high schools.
These are based on superior achievements in athletics, the arts, ROTC, community service or other areas of noteworthy accomplishment.
St. Edward’s University grants are available to students (U.S. citizens and legal residents) who show financial need according to the FAFSA. In 2016 alone, students at St. Edward’s were awarded more than $65 million.
Federal Pell Grant
Available to students (U.S. citizens) who show financial need according to the FAFSA. Annual awards vary widely ($598 to $5,815 for full-time study) and is based on the student's Expected Family Contribution (EFC) as calculated from the FAFSA. Pell Grant funds are sent directly to the school and applied to the student’s bill.
Federal Supplemental Educational Opportunity Grant (SEOG)
Federal grant awarded to Pell Grant–eligible students who have demonstrated the highest calculated need from the FAFSA. Awards are applied directly to the student’s bill. SEOG is subject to availability.
Texas Tuition Equalization Grant
State-funded, need-based grant offered to eligible full-time undergraduates who are Texas residents. Students who receive athletic scholarships are not eligible to receive a TEG.
Federal and State College Work Study
Provides paid employment opportunities in various campus offices. Work study is offered to students with demonstrated financial need. Students are paid at an hourly rate and receive pay every two weeks for the hours worked. The average college work-study award is $2,000 annually and is paid directly to the student. College work study is subject to availability. Please note that a work-study award is not a prerequisite for the majority of on-campus jobs. Numerous opportunities exist for students who do not qualify for this award.
A number of supplemental educational loan programs exist to allow families to borrow up to their student’s full cost of attendance. Annual loan limits under the Federal Student Loan program vary for dependent and independent students.
Federal Direct Student Loan — Subsidized
Subsidized student loans are awarded on the basis of financial need as determined by the FAFSA and the college's cost of attendance. The federal government pays the interest on the loan during enrollment of at least six credit hours per semester and during the six-month grace period after enrollment ceases.
Federal Direct Student Loan — Unsubsidized
An unsubsidized student loan is not based on financial need, and interest accrues from the time the loan is disbursed until it is paid in full. Additional Unsubsidized Stafford Loan funds are available for students whose parents are not creditworthy or for students determined independent of their parent by Department of Education standards. Federal Student Loan funds are released directly to the school in two or more disbursements via Electronic Funds Transfer (EFT) and applied directly to the student bill.
Federal Direct Parent Loan for UndergraduateStudents (PLUS)
Available to creditworthy parents who want to borrow for their undergraduate children's education. Students must be enrolled at least half-time. A Master Promissory Note (MPN) is required in addition to the submission of the FAFSA. The loan amount can be up to the cost of attendance minus other financial aid received. PLUS Loan funds are released directly to the school in two or more disbursements and applied directly to the student bill. Repayment begins 60 days after the loan is fully disbursed for the academic year, although deferment options are available.