Financial Aid

Frequently Asked Questions

Everything you've always wanted to know about financial aid but were afraid to ask...


How do I apply for financial aid?

Undergraduate students:
For the 2012-2013 academic year: Fill out a 2012-2013 CSS PROFILE and the FAFSA. You can apply online http://www.fafsa.ed.gov/ and http://profileonline.collegeboard.com/index.jsp. We also require a copy of parents' and student's 2011 federal income tax returns, all pages and W-2 forms.  For more information visit [[[[NEED apply for aid LINK]]]]

Graduate students:
For Fall 2011, Spring 2012, or Summer 2012: Apply with the 2011-2012 FAFSA and a copy of your 2010 Federal income tax returns and W-2. 
For Fall 2012, Spring 2013, or Summer 2013: Apply with the 2012-2013 FAFSA and a copy of your 2011 Federal income tax returns and W-2.

St. John's school codes:

  • PROFILE: Annapolis=5598; Santa Fe=4737
  • FAFSA: Annapolis=002092; Santa Fe=002093


How long does the process take?

Normally, about 2 to 4 weeks. You should apply as early as possible. The FAFSA may be filed after January 1. Some program funds are limited and awarded on a "first come first served' basis.

I'm not going to qualify for grant aid. Do I still need to fill out the FAFSA?

Yes! Financial aid includes grants, work and loans. You may not qualify for grants, but student loans are always obtainable.

What is a Student Aid Report, and what should I do with it?

You will receive a Student Aid Report (SAR) from the Department of Education after they process your FAFSA. Please check the messages on it, as some conditions may prevent you from receiving aid until they are resolved. DO NOT THROW AWAY YOUR SAR. KEEP IT FOR YOUR RECORDS.

What is an award letter?

An award letter is the school's offer of Federal, State, and Institutional financial aid.

When will I receive my award letter?

First and foremost, make sure you have turned in your FAFSA and the CSS PROFILE. With either of these documents missing, an award letter will not be generated. Returning students should expect their awards once your file has been completed. If you need to know what we still need, please contact our office.

I haven't received my award letter yet. What should I do?

Don't panic. Contact the Financial Aid office to check the status of your account.

What is the difference between the Treasurer's Office (Business Office) and the Financial Aid Office?

The Financial Aid Office reviews applications and determines students’ awards. The Treasurer's Office bills tuition, fees, and other institutional charges. Any information about billing or account balances needs to be directed to the Treasurer's Office.

I've been awarded work study. What does that mean?

Work study is a state or federally funded employment program. You are awarded a dollar amount to earn and this amount will appear on your award letter. Jobs are limited and filled on a first-come, first-served basis. Funds earned will be received through a paycheck, not posted to the student’s billing account. Receiving a work award does not guarantee an on campus position. Please complete the Campus Employment Application if interested in a position.

What is verification?

By law, the US Department of Education randomly selects 30% of all St. John's students who file a FAFSA. St. Johns College policy is to verify 100% of all students who apply and received financial aid. It is the responsibility of the Financial Aid Office to collect necessary financial documentation and verify the accuracy of the listed information. (Dependent students and independent students below the age of 30 must turn in signed tax returns for themselves and their parents, all W-2 forms, and a dependent verification sheet. Independent students above the age of 30  must turn in signed tax return, their/spouses W-2 forms (if applicable), and an Independent Verification Sheet.) You must turn in all financial documentation that the school requests before your loans are processed and your account credited with financial aid.

What does "need based aid" mean? What is "need"?

"Need" is determined by using this formula: Cost of Attendance (COA) - Expected Family Contribution (EFC) = Financial Need.
Cost of Attendance includes tuition, fees, books, supplies, transportation, room and board, and miscellaneous costs. EFC stands for an Expected Family Contribution. This number is derived from the information you provided on the FAFSA and CSS PROFILE. This is the amount that can reasonably be expected from your family as contribution toward educational expenses. If you subtract your EFC from the schools COA and you end up with a positive number, then you have "financial need" (or "need"). If you end up with a negative number, then you do not demonstrate "financial need". You will only receive "need based aid" if you demonstrate financial "need".

Where can I get information on tax benefits for higher education like the Hope Scholarship or Lifetime Learning Credit?

Information on tax benefits for higher education can be found at The Hope Scholarship and Lifetime Learning Credits or contact your tax accountant. Financial Aid Office will not counsel students or parents on how to prepare their taxes.