Financial Aid

Paying for College

General Information

Financial aid is money that is available to help students finance the cost of an education. Financial aid comes in the form of grants (money that the student does not have to pay back), loans (money that the student must pay back) and college work-study (money the student earns through employment). Eligibility is determined from the results of the Free Application for Federal Student Aid, FAFSA.

The student and his or her family have the primary responsibility to pay for the student's education. Financial aid is intended to supplement the difference between the cost of education and the expected family contribution. Several programs are available to help students meet their educational expenses. The Financial Aid Office will calculate financial aid eligibility after receiving FAFSA results and all required documents.

The student must be admitted to a program/declare a major at Saint Paul College-A Community and Technical College that leads toward a degree, diploma, or eligible certificate to be qualified to receive financial aid. For additional information, contact the Financial Aid Office at 651.846.1386.

Financial Aid Definitions

• FAFSA - The FAFSA is the Free Application for Federal Student Aid, FAFSA. This is the form that allows the student to apply for all types of financial aid: grants, loans, or college work-study.
   
• What is the Cost of Education? The cost of education includes tuition, fees, a room and board allowance, books, supplies, a transportation allowance and a personal expense allowance.
   
• What is Expected Family Contribution? An amount, determined by a formula called Federal Methodology, that indicates how much of the student and his or her family's resources should be available to help pay for school. The Expected Family Contribution (EFC) is used in determining the student's eligibility for federal and state financial aid. If a student has unusual expenses that may affect his or her ability to pay for school, the student should notify the Financial Aid Director.
   
• What is Financial Need? Financial need is the difference between the cost of education and the expected family contribution calculated by the federal processing center.
   
• Full-Time Enrollment: 12 credits or more per semester.
   
• Three-Quarter-Time Enrollment: 9-11 credits per semester.
   
• Half-Time Enrollment: 6-8 credits per semester.
   
• Less Than Half-Time Enrollment: 5 credits or fewer per semester.

Financial Aid Links