1. Federal Grants
Federal grants are need-based aid that does not need to be repaid. PELL is awarded to undergraduate students with no prior bachelor’s degree with significant financial need, as measured by the Department of Education’s need-analysis formula that measures a family’s ability to pay for education expenses. The maximum number of years a student may receive Federal Pell grant is six years.
• Pell Grant: For the 2025–2026 award year, eligible students may receive up to $7,395 per year. Eligibility is determined by the student's Student Aid Index (SAI), enrollment status, and cost of attendance. Students with an SAI of -1500 are typically eligible for the maximum award.
• Federal Supplemental Educational Opportunity Grant (FSEOG): Awarded to students with exceptional financial need, priority is given to recipients of PELL. The amount you are awarded will vary depending on your financial need, when you apply, the amount of other aid you are receiving, and funding availability at SIU.
2. Federal Direct Loans
The William D. Ford Federal Direct Loan Program (Direct Loan Program) is a low interest loan program provided by the U.S. Department of Education that allows eligible students and parents to borrow money to assist with educational expenses. The Direct Loan Program consists of the Direct Stafford Loan, Direct Parent PLUS Loan, and the Direct Graduate PLUS Loan.
Direct Subsidized Stafford Loan
Direct Subsidized Stafford Loans are awarded only to eligible undergraduate students based on financial need. Interest is paid by the U.S. Department of Education as long as the student is enrolled at least half-time at SIU.
Direct Unsubsidized Stafford Loan
Direct Unsubsidized Stafford Loans are awarded to eligible undergraduate, graduate, and professional students regardless of financial need. Interest begins accruing from the date of disbursement, however, students who decide to make interest payments while in school can avoid capitalization of interest. When interest is capitalized, it is added to the principal amount of the loan.
Direct Stafford Loan Academic Year and Aggregate Loan Limits
There are limits on the maximum amount of Direct Stafford Loan you are eligible to receive each academic year (annual loan limit) and in total (aggregate loan limit). The amount you are eligible to receive will depend on your student type (undergraduate, graduate, or professional).
The following charts provide the annual maximum and aggregate loan limit for your student type.
Graduate & Professional Aggregate Loan Limit
The maximum aggregate loan amount a Graduate or Professional Student may borrow is $138,500 in Direct Unsubsidized Stafford Loans. This includes all Stafford loans received for undergraduate study.
Loan Resources
Direct Loan Entrance Counseling
Direct Loan Entrance Counseling is a federal requirement if you are borrowing a Federal Direct Stafford Loan for the first time at SIU. Direct Loan Entrance Counseling provides information on how the loan process works, how to manage your education expenses, your rights and responsibilities as a borrower, and other potential resources to consider in helping fund your education.
Complete Direct Loan Entrance Counseling
Master Promissory Note
The completion of a Master Promissory Note (MPN) is a federal requirement if you are borrowing a Federal Direct Stafford Loan for the first time at SIU. An MPN is a multi-year binding legal agreement in which you promise to repay the loans you receive and any accrued interest.
Complete an MPN
Direct Exit Loan Counseling
Direct Loan Exit Counseling is a federal requirement if you borrow a Federal Direct Stafford Loan or Direct Graduate PLUS Loan and you withdraw from a term, graduate, or drop courses below half-time enrollment, even if you are transferring to another school. Direct Loan Exit Counseling provides information regarding your rights and responsibilities as a borrower, tips to help manage your borrowing, and options for repaying your loans.
Complete Direct Loan Exit Counseling
Annual Student Loan Acknowledgment
Students are encouraged to complete an
Annual Student Loan Acknowledgment each year they accept a new federal student loan. The goal of the acknowledgment is to help them understand how their loans affect their financial future.
Applying for AID
Eligibility Requirements
Students applying for Federal Student Aid must meet the following criteria:
1. Demonstrate financial need.
2. Be a U.S. Citizen, U.S. National, or eligible non-citizen.
3. Have a valid Social Security Number (SSN) unless you are from the Republic of the Marshall Islands, the Federated States of Micronesia, or the Republic or Palau.
4. Show that you are qualified to obtain a college or career school education either by having a high school diploma or General Education Development (GED) Certificate or completing a high school education in a homeschool setting approved under state law.
5. Be enrolled or accepted for enrollment as a regular student in an eligible degree or certificate program.
6. Be enrolled at least half-time (6 credit hours).
7. Maintain Satisfactory Academic Progress (SAP).
8. Sign certifying statement on the Free Application for Federal Student Aid (FAFSA) that you are not in default on any federal student loan, owe a refund on a federal grant, and you will use federal student aid only for educational purposes.
Steps to Apply
To apply for grants, and loans, you must complete the
Free Application for Federal Student Aid (FAFSA). The FAFSA is used to determine your eligibility for federal, state, and university aid programs. Even if you think you may not be eligible, we encourage you to apply. The FAFSA is available beginning October 1. We encourage you to file your FAFSA online as soon as possible to avoid errors and ensure faster processing. SIU’s priority deadline is March 1.
You may apply for aid before you receive your admission decision, however, you will not receive an award notification until you have been admitted into a degree seeking program of study at San Ignacio University. To ensure that San Ignacio University receives your FAFSA information, please be sure to include SIU’s Federal School Code: 042169 on your FAFSA.
How to Apply for Aid
1.
Apply for admission to SIU. o Undergraduate Admissions
o Graduate Admissions
2.
Apply for an FSA ID. o The FSA ID is a username and password that is unique to you as an individual. It is used to access your personal information and to sign the FAFSA electronically.
3.
Gather the information that you will need to complete the Free Application for Federal Student Aid (FAFSA) such as: o FSA ID’s
o Student and/or parent Social Security Numbers
o Federal Income Tax Returns
o W-2 forms or documentation of money earned during the tax year
o Untaxed income (child support, TANF, payments to tax-deferred pension, worker’s compensation)
o Current balance of cash, savings, and checking accounts
o Net worth of business and investments
4.
Complete the Free Application for Federal Student Aid beginning October 1 for the academic year in which you plan to enroll and include SIU’s Federal School Code: 042169.
5.
Consent to utilize the IRS-Financial Aid Direct Data Exchange. We strongly encourage you to take advantage of this tool when completing the FAFSA. o As long as you have filed your federal income tax return, you can link to the IRS website directly from the FAFSA and automatically populate the FAFSA income questions related to your tax return.
6.
Apply for SIU Scholarship
7.
Check your eligibility requirements to see if your FAFSA has been received, if you have any outstanding student requirements, holds, or an unsatisfactory academic progress status that could prevent you from being awarded and/or receiving financial aid.
Checking Your Application Status
1. Review your
Student Aid Report (SAR) sent to you by the US Department of Education for your:
o Student Aid Index (SAI)
o PELL eligibility
o Comments to see if corrections are required or to determine if you have been selected for verification.
2. Schools listed on the FAFSA will receive your data.
o SIU will receive your results within 5-7 business days from the date it was submitted to the US Department of Education.
3. Watch for the results of your Financial Aid Application.
o Check your SIU email periodically for financial aid information, additional requirements, and your award offer.
o The US Department of Education selects approximately 30% of a school’s population for verification. If you are selected for verification, you will be notified through your SIU email account. This email will contain a list of documents you must submit to our office before we can continue to process your award.
o If additional information is requested, please submit them within 10 business days of notification. Please include your name and SIU ID on all documents.
Verification
Verification is the process in which the Department of Education randomly selects approximately 30% of a school’s Free Application for Federal Student Aid (FAFSA) application population for review. Verification is used to compare information provided on the student’s FAFSA with Federal tax returns, W2’s, and/or other financial documents. If a student is selected for verification, they will receive notification via their SIU email account listing the additional information required. If a student’s file is selected for verification, the student and/or parent(s) must provide an IRS Tax Transcript or match income data on the FAFSA using the IRS-FA Direct Data Exchange (FA-DDX).
Required Verification Items:
• Household size (number of people living in your household)
• Adjusted gross income (AGI)
• Income earned from work
• Income taxes paid
• Sources and amount of untaxed income
How Your Award is Calculated
To determine the types and amounts of financial aid a student is eligible to receive, our office must take into account the student’s Student Aid Index (SAI), Estimated Cost of Attendance (COA), and current grade level and merge this information with the federal and state aid program parameters.
Student Aid Index
The Student Aid Index is a measure of your family’s financial strength and is calculated according to a formula established into law by the Department of Education. Your family’s taxes, untaxed income, assets, and benefits such as unemployment are all considered in the formula. Also considered is your family size (number living in the household). Your SAI is not the amount of money your family will have to pay for college nor is it the amount of federal student aid you will receive. It is a number used to calculate the amount of Federal and State aid a student is eligible to receive.
Estimated Cost of Attendance
The Estimated Cost of Attendance is an estimate of the amount of money required to attend SIU for one year (fall, spring and Summer). This amount includes tuition and fees, room and board (meals), books and supplies, transportation, personal expenses, health insurance (if applicable), and a loan fee. Federal and State aid program regulations prohibit awarding and disbursement of aid over the cost of attendance. If you have costs exceeding the estimated amount of expenses due to extenuating circumstances, you may wish to submit a Request to Consider Additional Cost. This form is available at the financial aid office and will allow us to potentially raise the Cost of Attendance based on the situation. This process does not mean that additional grant funds would be added to an aid package, but it would allow for possible additional loan funds to be obtained or certified to cover that increase.
Unmet Financial Need
Unmet Financial Need is determined by subtracting your SAI from your COA. Financial need is the maximum amount of need-based aid a student is eligible to receive.
Special Circumstances
Occasionally families experience changes in income and/or resources such as:
• Loss of job(s) or benefit income
• One-time nonrecurring income
• Separation or divorce of student or parent
• Death of a parent or student’s spouse
• Excessive medical expenses not covered by insurance
• Other catastrophic event affecting family income
As a result of these unexpected changes students and/or parents have the right to file a Special Circumstance Petition (form available contact the FA office). All requests must include supporting documentation. Failing to provide proper documentation will result in a denial of the petition. Students with approved petitions will be notified of changes via their SIU email account.
A Special Circumstance is intended to reflect the current year situation and unexpected household changes against the tax-year of record for the FAFSA. If you feel there might be a Special Circumstance situation, you can visit
this SAI Calculator to estimate how your projected household income for the current year might influence the changes to the SAI, to determine if it might be the best choice.
https://get2college.org/resources/sai-calculator/
Contact Us
For personalized assistance, please contact the Financial Aid Office:
•
Email: flagardere@sanignaciouniversity.edu
•
Phone: 305-629-2929 x 4015
•
Office Hours: M-F 9:00 AM to 5:00 PM
Financial aid is available to those who qualify. Let us help you explore your options and invest in your future at SIU! 
