Admissions

Saint Joseph College School of Pharmacy
       

School of Pharmacy Financial Aid

Student Financial Services, located on the second floor of Mercy Hall on the main campus, assists School of Pharmacy students with identifying sources of financial assistance to help meet the cost of the Pharm.D. education.  Our regular office hours are Monday through Friday, 8:30 a.m. to 4:30 p.m., and special arrangements can be made for appointments outside of the regular hours. 

Applying for Federal Direct Loans

Saint Joseph College School of Pharmacy students who have been accepted and matriculated into the Pharm.D.  program may apply for Federal Direct Loans by completing the following steps:

Step 1: Complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov.
              (Saint Joseph College school code: 001409)

You may file your FAFSA for the 2012/2013 academic year beginning on January 1, 2012.

Step 2: Follow the instructions for completing the Master Promissory Note (MPN) and Entrance Counseling under the Loan Options section of our website.

  • You must be enrolled in at least 6 credit hours in each of the semesters for which you wish to receive financial assistance.
  • You will need to be accepted and matriculated into the Pharm. D. program prior to receiving Federal Direct Loans.
  • Acceptance or matriculation into your program and your application for financial aid must be complete and in place by:     
    •  August 15 th   for the fall semester
    •  December 15 th  for the spring semester

The following amounts are based on a 12 month period, or one full academic year:

Loan Programs                                                           Loan Limits

Federal Direct Subsidized Loan                               $12,750

Federal Direct Unsubsidized Loan                           $36,750

Federal Direct Grad PLUS Loan                               Up to Cost of Attendance Less other Aid
                                                                                         *The maximum amount for 2011-2012 is $17,030

Note: The loan amounts presented above are based on three full-time terms.  The actual amount you may borrow will depend on your financial aid need and actual cost of attendance.  You should contact Student Financial Services for additional information on application requirements and procedures.

Borrow Wisely: Your graduate debt limit includes loans for undergraduate study.

If you reach your Federal (subsidized and/or unsubsidized) aggregate loan limit, you cannot receive any more of that type of loan. If you exceed your limit, aid already disbursed will be billed back. You will have to find alternative ways to finance your education. Therefore, it is to your advantage to borrow only what you need for educational expenses, and to keep track of your cumulative debt. The Student Financial Services Staff is happy to work with you to find ways to minimize your borrowing.

Lifetime limits – Graduate/Professional $ 224,000 (maximum $65,500 subsidized)

The Grad PLUS Loan: Once a graduate student has exhausted the Stafford Loan option, the Grad PLUS Loan may be available if additional funds are needed.  This federal student loan has a higher interest rate than the Stafford Loan and requires the borrower to have an adequate credit history.  Students are eligible to borrow up to the cost of attendance minus any other aid.  For more information, click here.

Additional Loan Options:  Students interested in additional funding may apply for an Alternative Education Loan. See our Loan Options page for a list of available Alternative Loan Lenders.

External Grant and Scholarship Programs

SJC Student Financial Services strongly encourages all Pharm. D. students to seek out external sources of funding. Scholarships and grants do not have to be repaid and therefore help to limit reliance on borrowing. The following is a partial list of scholarship and grant resources that may be available:

Additionally, you can explore scholarship search Web sites that list multiple scholarship opportunities.  We suggest that you read the privacy and information sharing policies on any site prior to providing any personal information. Below is a partial list of scholarship search Web sites that may be helpful for Pharm. D. students:


Frequently Asked Questions

Do I need to reapply for financial aid every year?

Yes. Each year you must complete a renewal FAFSA, and if requested, submit all supporting tax returns and documentation by Saint Joseph College published deadlines. However, you must only complete an MPN and Entrance Counseling once; they will remain valid throughout the Pharm. D. program.

What is the difference between Federal Direct Subsidized and Unsubsidized Loans?

Subsidized: Eligibility for this program is based on financial need. Interest on this loan is paid by the federal government while the student is in school. Unsubsidized: This loan is available to students regardless of financial need. The student is responsible for all interest; accrual of interest begins upon 2nd disbursement. Interest may be paid while the student is in school or may be capitalized and paid during repayment of the loan. Both types of loans require students to be enrolled at least half time. Repayment begins six months after students graduate, leave school, or attend less than half time.

Am I required to attend the Pharm. D. program full-time in order to be eligible for financial aid?

Yes. Most federal financial aid programs require at least half-time attendance (6 credits).

Can I defer payments on Undergraduate Federal Student Loans?

You must notify your lender(s) of your return to school in order to initiate a loan deferment. The deferment process will halt your loan-repayment obligation while you are enrolled at least half time (6 credits).

How do I determine what additional funds I can borrow in a Direct Graduate PLUS or Alternative loan?

You may borrow up to the cost of attendance (COA) minus any other aid received. If your COA equals the amount of aid on your financial aid award letter, then you cannot borrow an additional loan. If your COA is larger than the amount of aid on your financial aid award letter, then you can borrow the amount of the difference.

What are my repayment options for the Federal Direct Grad PLUS Loan?

You may elect to defer your payments for six months; however, interest will continue to accrue. Beyond that, you should contact your lender to discuss options, such as forbearance.

Do I have to accept the full amount of the loan offered on my financial award letter?

No. You may accept all or part of the loan offered. To decline any part of your award you must complete the Decline Aid form available on MySJC.

How are my Federal Direct Loan funds credited to my account?

Once you have completed all requirements, your funds will be disbursed by the lender to Saint Joseph College in two equal installments (minus 1.5% in fees) via electronic funds transfer. Loan proceeds are applied to your account balance. If funds are remaining after the account is paid, the Bursar’s Office will issue a refund check after the add/drop period closes.

Will my loan be received in time to pay my tuition?

Fund disbursement on the tuition due date depends on you. If you complete all requirements before the start of the program, funds will be disbursed in time for the tuition due date.

 

 

 

Student Financial Services  • 1678 Asylum Avenue  • West Hartford, CT 06117
Phone: 860.231.5223 or Toll-free 1.866.442.8752  • E-mail: financialaid@sjc.edu

October 12, 2011