Loans and Grants
Federal education loans are available for students and parents attending at least half-time (six credits) in an eligible program of study. Completion of the FAFSA is required. Federal educational loans must be repaid once a student is no longer enrolled at least half time. For more information, visit studentloans.gov.
Federal Direct Student Loans
Available for eligible students taking at least six credits in coursework that counts toward their degree program. Not based on credit review. There are two types: subsidized and unsubsidized. Subsidized loans are need-based and the U.S. Department of Education pays the interest while the student is enrolled at least half-time. Unsubsidized is not need-based and the interest is accruing from the start of the loan while in school.
Federal Direct Grad PLUS Loan
Available to eligible graduate students taking at least six credits in coursework that counts toward their degree program. Fixed rate. A credit review is required.
Federal Direct Plus Loan
For parents of a dependent student enrolled in an undergraduate program at least half-time. Fixed interest, and repayment starts 60 days after full disbursement.
Alternative Student Loans
An alternative educational student loan is a loan in the students name through a private lender. Loan approval is based on a credit review and generally requires a credit worthy co-signer. Contact the lender of choice to initiate this type of loan. Alternative loans should only be used as a last resort after exploring all other financial aid options.
Historical Alternative Student Lenders
College of St. Joseph maintains a historical list of all private lenders who have provided funds to our CSJ students since 2011. This list is compiled in alphabetical order and is not in order of preference. CSJ does not endorse or promote any specific private lender. We advise that this loan product type be used as a last resort after all federal loan options have been exhausted.
Choosing a lender is an important financial decision. Choose the lender whose terms best meet your needs. This list is not inclusive of all lenders who offer private student education loans. You may choose any private lender you prefer whether or not they are on the list below.
- Citizens Bank Student Loan
- Discover Student Loan
- MEFA-Massachusetts Educational Financing Authority
- NJ Class Student Loans
- Sallie Mae Smart Option Loan
- State of Alaska Education Loan Program
- StudentChoice credit union loan
- VSAC Advantage Loan
You may want to consider:
- What is the interest rate and is it fixed or variable? If variable, what is the maximum interest rate and how often will it change?
- When is accrued interest capitalized (added to principal balance?)
- Is a co-signer required? Will having a co-signer lower my interest rate?
- Are there any application, origination, disbursement or repayment fees?
- Repayment: When does it start, minimum payment amount, how long will I have to repay the loan, any prepayment penalties, are payments required while I am in school and what options are available if I can’t make my payments?
The FAFSA is required for consideration of the Pell Grants and Supplemental Educational Opportunity Grants (SEOG). Both of these grants are based on need and availability of funding.
Federal Pell Grants are awarded to undergraduate students who have not earned a bachelor’s or professional degree. Eligibility is based on FAFSA information and need.
The maximum Federal Pell Grant award is for the 2015–16 award year is $5,815. The amount depends on
- Your financial need.
- Your cost of attendance.
- Your status as a full-time or part-time student.
- Your plans to attend school for a full academic year or less.
Supplemental Educational Opportunity Grant (SEOG)
Generally, available to students receiving a Federal Pell Grant. The same criteria is used, however, at CSJ. Full-time enrollment status is required. Provides undergraduate students in need with awards ranging from $100 to $4,000. Based on availability of funding.
Vermont residents in their first undergraduate degree program should also complete the Vermont Grant application. Non-resident students are encouraged to check with their state’s grant agency. The amount a student is eligible to receive is determined by VSAC. Contact the VSAC grant program at 1-800-882-4166 for any assistance.
Sisters of St. Joseph Unity Grant
College of St. Joseph will award up to five full tuition grants for Mount St. Joseph Academy graduates who directly matriculate to CSJ. The MSJ/CSJ Sisters of St. Joseph Unity Grant is worth more than $40,000 over two years.
CSJ and MSJ wish to recognize the rich legacy of the Sisters of St. Joseph and the two schools they founded in Rutland, VT. The MSJ-to-CSJ partnership supports our ongoing efforts to help make college affordable and accessible. We wish to provide a wonderful opportunity for students to receive a quality education at an affordable cost.
Drive to CSJ Grant
Recipients receive an award that covers, $500 per semester (fall / spring) for the first two years of commuter enrollment (A $2,000 total value).
College of St. Joseph announced the launch of the Drive to CSJ Grant in September 2015. Save $21,000 in room and board over two years and let CSJ help cover the cost of your campus commute. Experience all of the benefits and savings of living at home while learning on-campus, and have the best of both of both worlds with the Drive to CSJ Grant.
The following guidelines must be met for eligibility:
- Available to new, entering full-time undergraduate students (freshmen and transfers) in the fall and spring terms of their first two years of study at CSJ
- Student must apply and enroll as a commuter
- Student must meet grant deadline requirements
- Mount St. Joseph Academy Unity Grant recipients are not eligible