Office of Financial Aid
The University’s Financial Aid
Office provides all major financial aid applications and
assistance in completing them; assists in resolution of any aid
application processing problems; provides complete financial aid
advisement concerning financial aid programs; and provides
information concerning financial planning, student loans and debt
management.
Financial Aid Application Process and
Dates
All students requesting financial aid
must file:
- Free Application for Federal
Student Aid (FAFSA) or the Renewal FAFSA
- St. John’s University Federal Code: 002823
- Deadline Date: March 1
- Tuition Assistance Program (TAP) Application: for New York
State residents/full-time students only, must take 12 credits per
semester. (All FAFSA filers will automatically receive a TAP
application.)
Remember
- In order to ensure that your student loan funds are received on
a timely basis, you must complete the Free Application for Federal
Student Aid (FAFSA). It is recommended that you file electronically
by logging on to www.fafsa.ed.gov.
- When completing the FAFSA electronically, you must remember to
answer the question related to housing plans in Step #6!
If you will be residing off campus, it is important that you select
the corresponding housing code.
Determination of Financial Aid
Eligibility
You establish your financial need by completing the Free
Application for Federal Aid (FAFSA) or the renewal Application.
In order to qualify for any federal aid, you need to meet the
following eligibility requirements:
- Enrollment on at least a half-time basis (six credits per
semester) with
matriculated status - U.S. citizenship status or eligible non-citizen status must
be
Confirmed - Satisfactory academic progress must be maintained
- Registration with Selective Service if required
- Demonstrated financial need for need based programs
- Not be in default on a federal student loan, or owe a repayment
on a previous financial aid award received at another
institution
Financial Aid Award Letters
Financial Aid Award Letters may offer a combination of aid types,
including scholarships and loans, designed to meet your financial
need as closely as possible. Most financial aid is awarded based on
the information collected from your FAFSA or Renewal FAFSA. Each
year, the Office of Financial Aid develops various budgets to help
determine your financial need. The budget, or cost of education,
comprises the yearly cost figure for tuition and fees, as well as
estimates for home maintenance; living expenses; personal expenses;
transportation; books and supplies (indirect costs). The actual
components of your student budget may be viewed on STJ UIS as of
July 1.
Financial Aid Programs
St. John’s University Law
scholarships
Scholarships are academically based and students are
automatically considered by the Admission’s office upon
acceptance.
NYS Tuition Assistance
Program
Need based grants for New York State residents who are matriculated
in a degree program and are full-time students (12 credits per
semester) Student’s must meet state need and citizenship
requirements. In 2006-2007 grants ranged from $75 to $550 per
year.
Federal Stafford Loans
Stafford Loans are made through the federal government.
Students who demonstrate financial need can borrow a Federal
Subsidized Stafford Loan. For a subsidized loan the federal
government pays the interest while the student is in school at
least half-time, and during the six month grace period which begins
when the student graduates or falls below half-time status. The
amount of your subsidized loan cannot exceed a student’s financial
need.
Unsubsidized Stafford Loans are not dependent on need. For
unsubsidized loans the student is responsible for the interest from
the time the loan is disbursed until it is paid in full. Interest
accrues while the student is school and during the grace
period. Students have the option of having the interest
accrue and capitalized or making interest payments while in
school.
Law students may borrow up to $8,500 subsidized and $12,000
unsubsidized per year. Students who do not demonstrate financial
need may borrow $20,500 in an Unsubsidized Federal Stafford
Loan.
To be considered for federal loans students must file a FAFSA
and complete a Federal Stafford Loan Master Promissory Note, or
have one on file with a federally approved guarantor.
Students may select the lender of their choice.
Federal Graduate/Professional PLUS
Loans
Graduate and professional students are eligible to borrow Federal
PLUS loans effective July 1, 2006. Students may borrow up to
the total Cost of Attendance, which includes tuition, fees, and
living expenses minus the financial aid they are receiving.
To be eligible the student must be a U.S. citizen or eligible
non-citizen enrolled at least half-time in an eligible graduate or
professional degree program. This loan currently offers a fixed
interest rate of 8.50%, unlike private loans that offer a variable
interest rate which changes quarterly. Loan eligibility is based on
credit-worthiness.
Students must file a FAFSA, complete a Grad PLUS Pre-Approval
with the lender of their choice, and complete a Federal PLUS Loan
Master Promissory Note, or have one on file with a federally
approved guarantor.
Things To Consider When Selecting a Federal Stafford Graduate
/Plus Loan Lender:
- Does the lender offer a “zero-fee” Federal Stafford Loan,
meaning the student receives the full amount of the funds?
Please note, a 3% origination fee is charged for all Federal PLUS
Loans.
- Guarantors may charge a 1% federal default fee.
(New York State Higher Education Services Corporation) currently
does not charge this 1% fee for 07/08. - What borrower benefits are offered by the lender?
- Does the lender sell their loans? If so, do the “back-end”
benefits travel with the loan?
- If a “back-end” benefit is lost because a payment is late, does
the lender offer an
opportunity to regain the benefit? - How is the service offered by the lender? Hours of operation?
Ability to access account information online?
Private Loans
Various private agencies and/or different lenders offer private
loan options for students. St. John’s recommends that
students review their opportunities for borrowing through
conventional federal loan programs first (Federal Stafford Loan and
Federal Graduate/Professional PLUS Loan), and beyond these, to
evaluate private loan options carefully. Students apply
directly with their lender and may borrow up to the total Cost of
Attendance, which includes tuition, fees, and living expenses minus
the financial aid they are receiving.
Disbursement of Funds
Student Loan funds are disbursed either by Electronic Funds
Transfer (EFT) or via loan check. EFT expedites the receipt of loan
funds. Every Federal Stafford Loan is required to have two
disbursements: the beginning and mid-way point of the term for
one-term loans; or the start of each term for two-term loans.
Entrance Interview
All borrowers receiving a Federal Stafford Loan for the first time
at St. John’s University need to complete an Entrance Interview
before their student loan funds can be disbursed. You may fulfill
this requirement via the Internet at: www.mapping-your-future.org
Verification Process
Federal law requires that a certain percentage of all financial aid
applicants – as well as many applicants with conflicting or
incomplete information – be verified. Therefore, the Office of
Financial Aid may find it necessary to ask you for additional
information. If you are selected for verification, you will be
notified and may be asked to submit any or all of the
following:
- A copy of your signed federal income tax return. If married and
filing separately, your spouse’s federal tax return also must be
submitted.
- A statement from the Social Security Administration confirming
the amount of your Social Security Benefits
- If your status as a resident alien or eligible non-citizen is
not confirmed by the Federal Processor, you will be required to
submit a photocopy of your Alien Registration Card or other
acceptable documentation.
- An Income and Expense Breakdown and/or Verification
Worksheet
After receiving all of the necessary information, the Office of
Financial Aid will review your documents and notify you of your
financial aid eligibility.
The Office of Financial Aid
Council Hall
Phone: (718) 990-2000
Office hours
Mon., 8:30 a.m. – 7 p.m.; Tues. – Thu., 8:30 a.m. – 4:30 p.m.;
Fri., 8:30 a.m. – 3 p.m.
If you have any questions, please contact the Office of
Financial Aid at SJULawfinaid@stjohns.edu or
financialaid@stjohns.edu.
Employer Tuition
ReimbursementProgram
To Register for a Course
Submit a signed letter on company letterhead stating exactly what
the employer will pay (i.e., tuition and fees, etc.). The letter
must specify your name, student ID, and the semester being covered.
The letter should be submitted prior to the issuance of your
tuition bill.
The dollar amount provided by your employer will be deducted
from your tuition bill.
Mail in the bottom portion of the bill with a check or money
order for the remaining amount due, in order to complete the
registration process. If the amount is zero, the bottom portion of
the bill must still be mailed to complete the registration
process.
A 'paid' receipt will be sent to you, along with your class
schedule.
Note: If you wish to submit a letter from your employer after
the issuance of your tuition bill, you must see Mrs. Verrone in the
Office of Financial Aid (ext. 5322) to have the dollar amount
deducted from your bill. You must then complete registration at the
Bursar's Office.
Note: If your employer reimburses you after the semester is
completed, it is your responsibility to submit your grades and any
necessary paperwork as soon as the semester is over in order to
ensure that reimbursement is received promptly. Payment to St.
John's for deducted dollar amounts is expected no later than
February 28th for the Fall, June 30th for the Spring and October
1st for the summer. Checks or money orders should be made payable
to St. John's University and submitted to Mrs. Mary Verrone in the
Office of Financial Aid.
Note: If you drop courses during a semester and your employer
will not cover these charges, you are responsible for all charges
incurred. In these cases, payment should be made directly to the
Bursar's Office.
Important
These procedures must be adhered to each
semester:
A new letter from your employer is required each semester/summer
session. After two warnings for late payment, no future company
letters will be accepted.