Financial Aid
Self-Help Aid :: Other Self-Help Aid ::Gift Aid :: Scholarship Information At-A-Glance

The Office of Financial Aid is committed to serving the student and her family with both long- and short-term financial planning, budget counseling, assessment of eligibility for federal and state financial aid programs, identification of alternative financing options, and providing advocacy on their behalf.

Stephens College and the federal government recognize that the primary responsibility for financing the student’s education rests with the student and her family. Financial aid (federal, state and institutional) can only supplement the family’s ability to pay for the student’s education by attempting to fill the “gap” between what the family is expected to contribute and the cost of attendance at Stephens College.

Included here are brief descriptions of the different types of financial aid available at Stephens College. Detailed explanations of application procedures, packaging process, verification procedures, etc. are available from the Office of Financial Aid in Lela Raney Wood Hall (LRW).

Self-Help Aid
Federal Perkins Loan
This is a federally-funded low interest loan (5 percent), which is administered by Stephens College. Recipients of these loans must demonstrate exceptional financial need. Priority consideration for these loans must be given to Federal Pell Grant recipients. The amounts of these loans can range up to approximately $4,000 per year for Stephens College students. Funds for this program are very limited! When Federal Perkins Loan funds are depleted, no further awards can be made even if the student qualifies for assistance from this source. Simple interest of 5 percent and repayment of principal begins nine (9) months after you graduate or leave school. No interest accrues nor do payments have to be made on the principal while you are enrolled at least half-time. Deferments are available under certain limited conditions. Federal Perkins Loan promissory notes must be endorsed by students in the Office of Accounting.

THIS IS A LOAN AND MUST BE REPAID!

Federal Subsidized Stafford Loan
This is a federal loan program. Separate applications are required for the Stafford Loan. Master Promissory Note applications for specific lenders are available from the Office of Financial Aid. However, if you choose to use a local lender from your area, you will need to obtain a loan application from that institution. If you have previously borrowed a Stafford Loan, you should contact either the Office of Financial Aid or your previous lender for a loan application.

Loans negotiated through this program are guaranteed by state governments and other agencies. The regulations listed below have been approved, but are subject to change.
1. All students securing loans must demonstrate financial need. The national need analysis forms we have on file for you will indicate whether you qualify for this program under current regulations.
2.For loans made after July 1 have a fixed interest rate of 6.0% and repayment of principal begins six (6) months after you graduate or leave school. No interest accrues, nor do payments need to be made on the principal, while you are enrolled as at least a half-time student.
3. Students may borrow the amount of the difference between the cost of education minus family contribution and other financial aid awarded to a maximum of $3,500/year for the freshman level, $4,500/year for the sophomore level and $5,500/year for the junior and senior levels. Individual lenders may have their own restrictions on maximum amounts allowable each year.
4. For Stafford loans made after July 1, 2008, lenders are allowed to charge up to a 1 percent origination fee and guarantee agencies are allowed up to a 1 percent default fee. This is deducted from the total amount of the loan.
5. Loan proceeds are sent by electronic funds transfer (EFT) to the College and are directly applied to the student’s account. For those students who borrow from individual borrowers who do not appear on the preferred lender listing, loan checks must be individually endorsed before being applied to the student’s account.
6. If you have received a Stafford Student Loan while a student at Stephens College, you must attend a loan entrance counseling session before your loan can be credited to your account. You are also required to attend a loan exit counseling session prior to leaving Stephens. These sessions may be completed online.

THIS IS A LOAN AND MUST BE REPAID!

Federal Unsubsidized Stafford Student Loan
The terms and conditions for the Federal Unsubsidized Stafford Student Loan program are identical to the Federal Subsidized Stafford Student Loan programs with two major exceptions. The unsubsidized Satfford Loan has a fixed interest rate of 6.8% for loans made after July 1, 2006. Also, the borrower must pay the interest which accrues during the period of instruction and during the grace period. This accrued interest will be capitalized onto the principal on a quarterly basis. An additional unsubsidized Stafford loan is available for an independent student borrower as defined by federal regulations. Dependent students whose parents have been declined for the PLUS loan may also be eligible.

Otherwise, the interest rate, the loan fees, the grace period, the enrollment status, the start of the repayment period, disbursement procedures, entrance and exit counseling requirements, etc. are exactly the same as for the Subsidized Federal Stafford Student Loan program.
Under Unsubsidized Stafford Loans, independent undergraduates as defined by federal regulations, or dependent undergraduates whose parents have been denied for the PLUS Loan, may borrow as follows:

Students may borrow the amount of the difference between the cost of education minus all other financial aid awarded (including Stafford Loans) to a maximum of $4,000 per year for the freshman and sophomore levels and $5,000 per year for the junior and senior levels. The aggregate loan limit for undergraduate student borrowers is $23,000. This amount is in addition to the $23,000 Stafford Loan limits.

If a student applies for an Unsubsidized Stafford Loan, the lender sends the loan proceeds to the school by Electronic Funds Transfer (EFT) and are directly applied to the student’s account.

Applications for this loan are available from the Office of Financial Aid, participating banks, credit unions, and savings and loan associations.

THIS IS A LOAN AND MUST BE REPAID!

Student employment
• Federal Work Study
• Stephens Employment
See Office of Career Services for a description of Student Employment.

Other Self-Help Aid
Parent Loans for Undergraduate Students (PLUS)
PLUS loans are for parents who want to borrow money to help pay for their children’s education. PLUS provides additional funds for educational expenses and, like Stafford Loans, are made by a lender such as a bank, credit union or savings and loan association.
PLUS enables parents to borrow up to the difference between the cost of education (as defined in the curriculum catalog and Financial Aid Handbook) and the amount of the awarded financial aid for each child who is enrolled at least half time and is a dependent student.

PLUS borrowers do not have to demonstrate financial need. However, the lender requires a credit analysis to determine credit worthiness.

PLUS loans may be sent by EFT in the same manner as Federal Stafford Student Loans. PLUS loan checks will be sent to the school and will be made co-payable to both the parents and the school.

Gift Aid
Federal and State Aid
Federal Pell Grant
This is a federal grant, which is based on financial need as determined by a standard formula, passed into law by Congress. This grant ranges from $400 to $4,731. The individual amount is determined by the Expected Family Contribution (EFC), which is in the top right corner of the Student Aid Report (SAR). If the EFC is 4110 or below, the student is eligible for varying amounts of Federal Pell Grant. There is no repayment of Federal Pell Grant awards.

Federal Supplemental Educational Opportunity Grant (FSEOG)
This is a federally funded grant, which is administered by Stephens College. The funds for this program are very limited. Recipients of this grant must have exceptional financial need and must be Federal Pell Grant recipients. When FSEOG monies are depleted, no further awards can be made even if you qualify for assistance from this source. There is no repayment of FSEOG awards.

Federal Academic Competitiveness Grant

This is a federal grant for first and second year undergraduate students with proven financial need who also receive the Pell Grant, and who have completed a "rigorous program of study" in high school as defined by the Federal Government. This grant is $750 per year for first year students and $1300 per year for second year students. There is no repayment of the Federal Academic Competitveness Grant. Students beginning their second year must have a 3.0 cumulative GPA.

SMART Grant

This is a federal grant for third- and fourth-year undergraduate students with proven financial need who also receive the Pell Grant, and who major in one of the five federally approved majors (mathematics, science, technology, or critical foreign languages). This grant is for $4000 per year for third- and fourth-year students (two years maximum). There is no repayment of the SMART Grant. Students must have a 3.0 cumulative GPA.

Access Missouri Grant
This is a state-funded grant which may be awarded to students demonstrating financial need, who are legal Missouri residents, enrolled full time and who have completed the appropriate needs analysis forms prior to April 1. These awards range up to $4,600 per year. Stephens College will not replace state grant funds lost because of late application or failure to apply. Official notification of these awards occurs after the school year begins; therefore, this award will be listed as ESTIMATED on your award letter. Students must maintain a 2.5 cumulative GPA for renewal awards. There is no repayment of Access Missouri Grant funds.

Missouri Bright Flight
Bright Flight’s formal name is Missouri Higher Education Academic Scholarship Program. This program provides maximum scholarship awards in the amount of $2,000 to eligible high school graduates and to eligible renewal applicants. A high school graduate must be a Missouri resident, attend a participating Missouri postsecondary institution and achieve a composite score in the top three percent of all Missouri students taking the ACT or SAT tests. Renewal applicants must have received a scholarship the previous year, attend a participating Missouri postsecondary institution and maintain a 2.5 cumulative GPA and satisfactory academic progress at their current school.

Stephens Scholarships, Awards and Grants
The following listing is a brief description of scholarships, awards and grants offered by Stephens College.

High Honors and Presidential Scholarships
The High Honors Scholarship is offered to an unlimited number of incoming freshmen on the basis of high school GPA and standardized test scores. The award is renewable providing that the student maintains a minimum 3.0 cumulative GPA and is enrolled on a full-time basis.

The Presidential Scholarship is offered to an unlimited number of incoming freshmen on the basis of high school GPA and standardized test scores. The award is renewable providing that the student maintains a minimum 3.0 cumulative GPA and is enrolled on a full-time basis.

Stephens Award
The Stephens Award is offered to an unlimited number of incoming freshmen on the basis of high school GPA and standardized test scores. The award is renewable providing that the student maintains a minimum 2.5 cumulative GPA and is enrolled on a full-time basis.

Phi Theta Kappa Founders Scholarship
The Phi Theta Kappa Founders Scholarship is offered to an unlimited number of incoming transfer students on the basis of college GPA and membership in the Phi Theta Kappa organization. The award is renewable providing that the student maintains a minimum 3.0 cumulative GPA and is enrolled on a full-time basis.

Transfer Scholarship
The Transfer Scholarship is offered to an unlimited number of incoming transfer students on the basis of college GPA and membership in the Phi Theta Kappa organization. The award is renewable providing that the student maintains a minimum 3.0 cumulative GPA and is enrolled on a full-time basis.

Transfer Award
The Transfer Award is offered to an unlimited number of incoming transfer students on the basis of college GPA. The award is renewable providing that the student maintains a minimum 2.5 cumulative GPA and is enrolled on a full-time basis.

Leadership Award
The leadership award is offered to an unlimited number of incoming freshmen on the basis of achievement (i.e. membership in an organization, offices held, extracurricular performance, accomplishments, community service, honors received). The award is renewable providing that the student is enrolled on a full-time basis, maintains a minimum 2.5 cumulative GPA, and is earns required points by attending events on campus (see Leadership Award Policy for more information).

Stephens Grants
These institutional grants are offered to full-time students on the basis of need as defined by the Department of Education. The amount of these grants will vary on the basis of the cumulative GPA as described in a prior section. These grants are not automatically renewable and will vary in amount from year to year depending upon the amount of financial need met from other sources, family income, family size, number of family members attending college, etc.

Stephens Missouri Grants
These institutional grants are awarded to regular full-time students whose parents have resided in Missouri one full year prior to their daughters’ enrollment at Stephens College. These awards are $1,200 per year. These grants are renewable as long as the students’ parents continue to reside in Missouri.

Neighbor Grant

These institutional grants are awarded to regular full-time students whose parents have resided in one of the following states bordering Missouri: Iowa, Illinois, Kentucky, Kansas, Tennessee, Arkansas, Oklahoma, and Nebraska. These awards are $1,500 per year. These grants are renewable as long as the students' parents continue to reside in these states.

Sister Grants
These grants are individually awarded to full-time undergraduate students who have a sister concurrently enrolled at Stephens. These grants are renewable as long as both sisters attend Stephens College, and are for $500 per year.

In addition to the listed scholarships, students may also be selected for honors, awards and scholarships that are not sponsored by Financial Aid.

Please contact the Office of Financial Aid at (573) 876-7106 for further information concerning PLUS/Unsubsidized Stafford Loans or other financing alternatives.

Scholarship Information At-a-Glance
High Honors Scholarship
Does not require FAFSA
Preference date is Oct. 1; actual due date is rolling
Maximum Stephens award per year—$8,000 to $10,000
No repayment required
Stephens scholarship; renewable

Presidential Scholarship
Does not require FAFSA
Preference date is Oct. 1; actual due date is rolling
Maximum Stephens award per year— $6,000 to $8,000
No repayment required
Stephens scholarship; renewable

Stephens Award
Does not require FAFSA
Preference date is Oct. 1; actual due date is rolling
Maximum Stephens award per year— $2,000 to $6,000
No repayment required
Stephens award; renewable

Phi Theta Kappa Founders Scholarship
Does not require FAFSA
Preference date is Oct. 1; actual due date is rolling
Maximum Stephens award per year— $8,000 to $10,000
No repayment required
Stephens scholarship; renewable

Transfer Scholarship
Does not require FAFSA
Preference date is Oct. 1; actual due date is rolling
Maximum Stephens award per year— $7,000 to $10,000
No repayment required
Stephens scholarship; renewable

Transfer Award
Does not require FAFSA
Preference date is Oct. 1; actual due date is rolling
Maximum Stephens award per year— $5,000 to $7,000
No repayment required
Stephens award; renewable

Leadership Award
Does not require FAFSA
Preference date is Oct. 1; actual due date is rolling
Maximum Stephens award per year— $3,000
No repayment required
Stephens award; renewable

Stephens College Performing Arts Award
Does not require FAFSA
Preference date is Oct. 1; actual due date is rolling
Maximum Stephens award per year— $2,000
No repayment required
Stephens award recommended by dept. head; renewable

Stephens Grant
Requires FAFSA
Preference date is March 15
Maximum Stephens award per year— Varies
No repayment required
Stephens grant based on financial need

Stephens Missouri Grant
Does not require FAFSA
Preference date is March 15
Maximum Stephens award per year— $1,200
No repayment required
Stephens grant; resident of Missouri; renewable

Neighbor Grant

Does not require FAFSA

Preference date is March 15

Maximum Stephens award per year— $1,500

No repayment required

Stephens grant; resident of state bordering Missouri; renewable

Sister Grant
Does not require FAFSA
Preference date is Feb. 21; actual due date is March 15
Maximum Stephens award per year— $500
No repayment required
Stephens grant; sisters concurrently enrolled

Perkins Loan
Requires FAFSA
Preference date is March 15
Maximum award per year— $4,000
Repayment required, begins 9 months after or below 1/2 time
Interest rate, 5%
Federal loan; school is lender

Subsidized Stafford Student Loan
Requires FAFSA
Actual due date— last day of classes each semester
Maximum Stephens award per year— Fr 3,500; Soph 4,500; Jr/Sr 5,500
Repayment required, begins 6 months after or below 1/2 time
Interest rate, 6.0%
Federal loan; money comes from lender

Student Employment
Requires FAFSA
Actual due date is March 15
Maximum Stephens award per year— $1,600
No repayment required
On-campus employment; receive paycheck every 2 weeks

Parent Loan (PLUS)
Does not require FAFSA
Actual due date— last day of classes each semester
Maximum Stephens award per year— Cost of education - financial aid
Repayment required; 60 days after funds, dispersed; deferment options avail.
Interest rate, 8.5%
Loan money comes from lender

Unsubsidized Stafford Student Loan
Requires FAFSA
Actual due date— last day of classes each semester
Maximum Stephens award per year— Fr 3,500; Soph 4,500; Jr/Sr 5,000
Repayment required; 6 months after or below 1/2 time
Interest rate, 6.80%
Loan money comes from lender

Pell Grant
Requires FAFSA
No due date
Maximum Stephens award per year—$4,731
No repayment required
Federal grant; undergrad only

Supplemental Educ. Opportunity Grant (SEOG)
Requires FAFSA
Preference date is March 15
Maximum Stephens award per year— $500
No repayment required
Federal grant; undergrad only

Academic Competitiveness Grant

Requires FAFSA

Pell eligible

No due date

Maximum award per year— $1,300

No repayment required

Federal grant; undergrad only

SMART Grant

Requires FAFSA

Pell eligible

No due date

Maximum award per year— $4,000

No repayment required

Federal grant; undergrad only

Access Missouri Grant
Requires FAFSA
Preference date is March 15; actual due date is April 1
Maximum award per year— $4,600
No repayment required
State grant; Missouri resident attending Missouri school; undergrad only

Missouri Bright Flight
Does not require FAFSA
Actual due date is late July
Maximum award per year— $2,000
No repayment required
State scholarship; Missouri resident; top 3% grad renew

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