Filling a Financial NeedMost students who attend St. Louis College of Pharmacy receive more than one type of financial aid, creating an overall package designed to cover tuition, fees, and housing costs. Our financial aid advisors meet with each student to develop a complete plan.
- The process of determining financial need begins by completing the Free Application for Federal Student Aid (FAFSA). This federal form compiles financial information needed for the government to assess the needs of the individual student. Students who exhibit the greatest financial need are the most likely to be offered federal financial assistance.
- Grants are based directly on a student’s financial need and do not require repayment. The government offers several types of grants, which vary in the amount awarded. They include Pell Grants, Federal Supplemental Educational Opportunity Grants (FSEOG), the Access Missouri Financial Assistance Program, and Academic Competitiveness and National SMART Grants.
- Student loans are available for students and parents who wish to borrow money to help meet educational expenses. STLCOP students are eligible for several loan programs. They include Federal Stafford Loans, Federal Perkins Loans, Health Professions Student Loans, PLUS Loans, and loans from non-governmental sources, such as banks. Information about how to make federal student loan payments more manageable is available via Income-Based Repayment (IBR).
- International students are eligible for institutional scholarships based on the same criteria as other students. Transfer students are eligible for need-based federal and state grants and also may qualify for institutional scholarships.
The American Association of Colleges of Pharmacy (AACP) provides information on a variety of special financial aid resources available to pharmacy students.
The Scholarship Foundation of St. Louis is a nonprofit organization that provides information and furnishes direct financial support to students. In 2011, the foundation distributed $3.6 million to approximately 650 qualified area students to pursue degrees at accredited educational institutions throughout the United States. The foundation offers interest-free student loans and grants.
In addition to grants and loans, many scholarship opportunities are available. For example, because of the generosity of our scholarship donors, 195 scholarships totaling $421,475 were presented to 175 students for the 2012-13 academic year. Learn more about Financial Aid & Scholarships.
In addition, the Federal Work-Study Program provides part-time job opportunities for students. Work-study students put in an average of five to six hours per week and are paid monthly for total hours worked.
Resources for Financing Your Balance Owed are Available...
- Parent/Graduate PLUS loans are federal student loans with a 7.9 percent fixed interest rate and 4.2 percent origination fee (you will receive 95.8 percent of your borrowed amount).
- Private student loans are available from numerous banks and credit unions; terms of private loans vary by lender. You may access a list of private lenders commonly used by STLCOP students on our FastChoice webpage, but students are not restricted to the listed lenders.”