Frequently Asked Questions
Frequently Asked Questions About Financial Aid
Applying for Aid
When should I file my FAFSA?
You must renew your FAFSA every year to be considered for federal work study and federal student loans. For the academic year 2011-2012, you will use your 2010 Federal tax return(s) to file the 2011-2012 FAFSA. You can file the 2012-2013 FAFSA starting January 1, 2012. You will use your 2011 Federal tax return(s) to file the 2012-2013 FAFSA. The University's School Code is 002506.
What types of aid are available?
Most law students are eligible for federal work study and federal student loans. Students are considered for scholarships by the admissions office upon application.
What are my payment options?
You may pay your tuition with student loans, scholarships or payments via check or credit card (excluding Visa). There are also payment plans available. You may sign up for a payment plan or pay online via the Bill Payment Suite in MySLU. You may pay in person at the cashier window in DuBourg Hall, first floor.
What happens if I miss a tuition payment?
If you do not have sufficient financial aid to cover your tuition bill, you must make payment on the outstanding balance. If this is not done by the due date on your bill, your registration will be compromised. You will then be required to re-register and a $50 late registration fee will be assessed.
Student Loan Questions
Are federal student loans based on credit?
Because Stafford Loans are guaranteed by the Federal government, previous credit problems will not affect your ability to qualify - unless you have defaulted on a student loan. Credit problems may affect your eligibility for the Graduate PLUS loan and private/alternative loans. The Graduate PLUS loan and the private/alternative loans are approved based on the credit of the borrower or that of a credit-worthy co-borrower.
I applied for loans before the semester began. When do I get my loan funds?
Refunds begin the week before school officially begins. If you completed your application well in advance of the semester, you should receive your loan funds within the first two weeks of school. It is recommended that you sign up for an electronic refund via the Bill Payment Suite in MySLU.
How can I clear a default on my student loan?
You must contact your lender or loan servicer immediately in order to work out a repayment plan. In most cases, you will be required to make at least six consecutive, on-time payments before you can apply for further federal loans.
If you are unsure of who owns your student loans, you can request that information by using the National Student Loan Clearinghouse web site.
I was selected for verification. What does this mean?
At Saint Louis University, files are randomly selected for review. Your financial aid will not be processed until we receive the requested documents, so it is important to turn you forms in promptly.