Government assistance and loans

The state and federal government can be key members in the partnership to pay for college. Below is a list of the major programs, plus some larger independent scholarship organizations we work with.

Federal Pell Grants

Need-based grants targeting the neediest families, those with an EFC below $4,500. Grant amounts can change each year but typically range between $400 and $5,000 per year.

Federal Stafford Loan

The traditional “student loan” with the lowest interest rates and most generous repayment options. Loan amounts vary depending upon demonstrated need and class level, but start at $3,500 for freshmen and $5,500 for transfers.

Federal Work-Study

Awarded to freshmen and sophomore students on the basis of need. Amounts range from $500 to $2,000. Students are responsible for securing a work-study eligible job.

Academic Competitiveness Grant (ACG)

Awarded to freshmen Pell Grant recipients who have completed a rigorous high school curriculum. The grant is $750 for the first year and $1,300 for the second, if you earn a 3.0 GPA your first year at Saint Martin’s. Supplemental Educational Opportunity Grant Additional funds for certain Pell Grant recipients, totaling $1,100 per year.

Federal Student Loans

An education loan is a form of financial aid that must be repaid; many students rely on federal government loans to finance their education. These loans have low interest rates, do not require credit checks, and have a variety of repayment options. Student loans include the Federal Stafford and Federal Perkins Loans. Find more information here.

For more details or information, you can contact the Office of Financial Aid at finaid@stmartin.edu.