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Need-Based Programs

Federal Pell Grant

The Pell Grant is a Federal sponsored grant for undergraduate students enrolled at least half-time at a college or university. Eligibility is determined by the Federal Department of Education. Awards will vary depending upon the student's registration.

Access Missouri Grant Program

The Access Missouri Grant is a State-sponsored program for all undergraduate Missouri residents enrolled full-time at a Missouri college or university with a 2.5 gpa or higher and the student's FAFSA must be processed no later than March 31. Eligibility is determined by the State. Access Missouri Grant Awards are not finalized until Fontbonne receives official notification from the State as to each student's award status, therefore the amount on your award letter is an estimate until final regulations are passed.

Supplemental Education Opportunity Grant

The funds for this grant is appropriated by the Federal Government and made available through institutions of higher education to undergraduate students who have exceptional financial need. Limited funding, awarded on a first come, first serve basis.

Missouri Marguerite Ross Barnett Scholarship

Amount varies
Missouri residents enrolled part-time who are employed and are compensated for a minimum of 20 hours per week. Application is available from the Missouri Coordinating Board of Higher Education (314) 751-6635.

Federal Work Study Program (FWS)

Federal Work-Study(FWS) is a work program for undergraduate students with demonstrated financial need. To be considered at Fontbonne, you must have the FAFSA processed by our early application deadline of March 15, have indicated on the FAFSA an interest in student employment and have financial need. Eligible students find job opportunities either on campus or at approved off campus sites either during non-academic day hours or in the evening. Most students work an average of 8 to 9 hours per week and are paid on a monthly basis as time sheets are submitted.

Student Loans

Direct Stafford Loan

Direct Stafford Loan is available to both undergraduate and graduate students who have made application for financial aid and are registered at least half time (six credit hours or more.)

Direct Subsidized Loan - A need-based loan which carries a fixed interest rate. Repayment begins six months after graduation, leaving school or falling below 6 hours of enrollment. Borrowers have up to 10 years to repay the loan and there are no penalties for early repayment. The Federal government pays accruing interest and payments do not need to be made on the principal while the student is enrolled at least 6 hours at an eligible institution. Visit www.direct.ed.gov for specifics on interest rates.

The maximum amount that can be borrowed is determined by the student's classification as an undergraduate ($3,500 as a freshman, $4,500 as a sophomore, and $5,500 as a junior, senior, or fifth year student) for a maximum total of $23,000. Graduate students may borrow a maximum of $8,500 per academic year for periods of enrollment starting October 1, 1993, with an aggregate total of $65,500.

Direct Unsubsidized Loan - The student is always responsible for the accruing interest on the loan. The interest can be paid while school or one may choose to capitalize the interest. By capitalizing the interest, one is adding the accrued interest to the loan principal. Repayment of the loan begins six months after graduation, leaving school or falling below 6 hours of enrollment. Borrowers have up to 10 years to repay the loan and there are no penalties for early repayment. Visit www.direct.ed.gov for specifics on interest rates.

Prepayment may be made at any time without penalty.

All incoming Freshman and Transfer students must also complete an Entrance Interview. Please go to Student Loan Couseling Interview at Mapping Your Future

Federal Perkins Loan

Perkins Loan provides a long-term federal loan to undergraduate students with demonstrated need. The amount varies with a $4,500 maximum total for the undergraduate years until junior status is attained and a maximum total of $9,000 as an undergraduate. Fontbonne University is the lender from funds composed of both federal and university monies. The loan entitles new borrowers to a nine-month grace period, which begins immediately upon graduation, withdrawal from Fontbonne or registration for less than six credit hours. At the conclusion of the grace period, repayment based on interest of five percent per year will begin. Loans may be fully or partially cancelled for teachers of handicapped children or teachers employed by a school with a high concentration of low-income students. Deferment of repayment is possible for half-time student status, military service or VISTA. The appropriate deferment or request for cancellation must be filed at least once annually.

See your financial aid counselor for more information.

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