FAFSA forms must be filed every year.
Undergraduate level students must be enrolled in at least 12 credit hours per semester to receive Institutional money. All students, undergraduate or graduate, must be enrolled at least half-time per semester to be eligible for student loans. (Half-time for Undergraduate level = 6 credits; Graduate level = 5 credits)
Effective for the 2015-16 academic year: For students who live off-campus, the most institutional aid they can receive in one academic year is $9,000. If your housing changes, your award will be revised accordingly.
There is no institutional aid for summer sessions. Federal Loans may be available if you are enrolled at least 1/2 time.
You are eligible for institutional financial aid for up to eight semesters, including semesters taken at other schools, before or after time spent at the university (i.e. if you transfer in as a junior, you will receive 4 semesters of institutional aid; or you attended St. Ambrose, left to attend another school, and then returned). This means that if you continue into a fifth year of classes, you will not be eligible for any institutional funds you may have received previously. (Institutional funds are those awarded by the university, not state, federal, or outside based scholarships or grants.)
All financial aid awards, including loans, are disbursed in two disbursements: one for the fall term and one for the spring term. If you are a first-time borrower, there is a 30-day hold on your first disbursement. Once the loan funds have been applied to your account and if you have awards in excess of your costs, you may receive a refund. Any other questions regarding your financial aid should be directed to the Financial Aid Office.
If you are receiving assistance under the work study program, you must understand that the amount shown on your award letter is the amount we expect you to earn during one academic year if you work all your allotted hours. Any additional earnings must be approved by your department supervisor and taken into consideration in your financial award package.
Part of the financial aid funds that St. Ambrose awards come from monies provided through the generous support of St. Ambrose University benefactors. Most endowed scholarships are meant to provide financial support for St. Ambrose University's academic and need based awards. Due to this, in some cases, you may see a portion of your Academic Scholarship, for example, being replaced by a named endowed scholarship. The total dollar amount you receive between the two awards, however, will remain unchanged. Recipients are chosen based on the criteria established by the donor, which include, but are not limited to: major, class rank, GPA, performance in a fine art, or residency. You may be contacted by the Advancement Office to write a thank you letter to the donor.
St. Ambrose University has an off-campus cap of $8,000 for institutional funds, effective as of the 2011-12 academic year through the 2013-14 academic year. If you have more than $8,000 in institutional funds, your scholarships or grants will be reduced to the $8,000 cap.
**Effective for the 2014-15 academic year if you have more than $8,500 in institutional funding, your scholarships or grants will be reduced to $8,500 if you move off campus.
Institutional funds include, but are not limited to: academic scholarships, university grants, athletic grants or scholarships, and other performance type scholarships. This cap does not include federal or state funds or loans.
If you are considering moving off campus and have questions, please contact our office.