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| UST Increases Financial Aid Budget for 2011-2012 |
As the cost of higher education continues to increase across the nation, The University of St. Thomas remains committed to providing an accessible and affordable private, liberal arts education to all students.
To meet growing student financial need, UST has increased the financial aid budget 21 percent for a total of $9.2 million for the 2011-2012 academic year. This marks an unprecedented increase in available scholarships and grants in recent years. In the 2010-2011 academic year, UST awarded $7.586 million in institutional scholarships and grants.
In addition, $75,000 has been earmarked for Continuing Student Scholarships, which offer scholarships to continuing students who have completed at least one academic year with a 3.0 grade point average, but who were ineligible for scholarships when they entered as freshmen. This incentive will recognize their hard work and commitment to earning a St. Thomas degree. Applications for Continuing Student Scholarships for the 2011-2012 academic year will be available in June of 2011.
More than 350 UST juniors and seniors may be eligible for the Financial Stretch Grant, a one-time, need-based $2,000 grant for students who enroll in at least six hours in summer 2011. Students must have completed at least 60 credit hours at the end of spring term, be a U.S. citizen or permanent resident and a Texas resident, and be Pell grant eligible. Funds are limited and will be awarded on a first-come, first-served basis. Priority will be given to students majoring in biology, bioinformatics, biochemistry, environmental science, mathematics and the Cooperative Engineering Program. Students interested in any pre-health field are not eligible. Applications will be accepted until April 30.
Scholarships have also been restructured to reflect an increase in award allocation. The following categories of institutional aid will be available: Presidential Excellence Scholarship ($14,000), Basilian Distinguished Scholarship ($11,000), UST Achievement Scholarship ($9,000), and Celt Award ($7,000). These new designations will not affect the awards for scholarships previously granted to students who enrolled before the 2011-2012 academic year.
“Last year more than 80 percent of our freshmen students received financial assistance and we hope to reach at least as many this year, said UST President Dr Robert Ivany. “These aid packages allow many more deserving students to benefit from a St Thomas education.”
What’s the difference?
Financial Aid is awarded to students based on income and demonstrated financial need. Scholarships are awarded based on academic achievement including grade point average and standardized test scores. Grants and scholarships come from various sources including UST, federal, state and private funds. UST collaborates with students to create a financial aid package that works for them using only one aid application, the Free Application for Federal Student Aid (FAFSA) form. Find the form at www.fafsa.gov.
Financial Aid at UST
The UST Office of Scholarships and Financial Aid partners with students and their families to explore all types of financial assistance available including university scholarships, grants, work-study, student loans and flexible payment plans. The UST website home page now features the “Celt Cost Calculator,” where students can calculate an estimated financial aid package.
All students who apply for admission to UST are automatically considered for merit scholarships (these are based on SAT or ACT test scores and high school grade point average.) To apply for grants, work-study, or student loans, file the FAFSA, making sure to list UST’s school code, 003654, so the results of the application are sent to UST.
For more information, visit www.stthom.edu or call the Office of Scholarships and Financial Aid at 713-525-2170.