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 University of Saint Joseph published deadlines. However, you must only complete an MPN and Entrance Counseling once; they will remain valid throughout the program.

What is a Federal Direct Unsubsidized Loan? 

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. This loan requires students to be enrolled at least half time (6 credits). Repayment begins six months after students graduate, leave school, or attend less than half time.

Am I required to attend the School of Pharmacy 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 provide written notification to Student Financial Services.

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 University of Saint Joseph in two equal installments (minus origination 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. Contact the Bursar's Office about additional refund questions.

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.