Grants, similar to scholarships and unlike loans, do not have to be repaid. However, grants are based on a family’s eligibility for need-based aid. St. Olaf meets the need of all admitted students with a combination of merit scholarships, need-based grants, student employment, and federal loans.
There are six main types of grant aid available at St. Olaf:
St. Olaf Grants
For more information on grants from St. Olaf College, click here.
St. Olaf grants range from $1,000 to approximately $45,000 annually. St. Olaf grants are need-based grants from the college to the student that do not need to be repaid. The amount of the grant is based on the amount of need the family demonstrates through completion of the CSS/Financial Aid Profile and FAFSA. St. Olaf grants are funded through the generosity of alumni, parents and friends of the college, and other St. Olaf funds.
Federal Pell Grants
For more information on Federal Pell Grants, click here.
Pell Grant awards ranged from $598 to $5920 for the 2017 – 2018 Academic Year. Pell Grants are awarded by the federal government and the FAFSA determines eligibility for the Pell Grant. Like all grants, the Pell Grant does not need to be repaid.
Pell Grant recipients may inquire with the Financial Aid Office to request funds to use for the purchase of books and supplies. Advances will be given to students with credit balances after all charges and aid.
Federal Supplemental Educational Opportunity Grants (SEOG)
For more information on Federal SEOG funds, click here.
SEOG awards range from $500-$3,000 annually. Preference in the SEOG program is given to students who are Pell Grant recipients.
Minnesota State Grants
For more information on the Minnesota State Grant program, click here.
Minnesota State Grants range from $340 to approximately $8,000. Minnesota State Grants are awarded to eligible Minnesota residents on the basis of need and do not have to be repaid. Amount of the grant is determined once the state budget is set in July prior to the upcoming school year. St. Olaf provide an estimates in the financial aid award based on the previous year’s amount.
STEP (St. Olaf Education Partnership) Grants
For more information on the STEP Grant (scholarships from all faith communities), click here.
St. Olaf College affirms its commitment to provide a liberal arts education of high quality that encourages students to a deeper understanding of themselves and the world. Through the STEP Grant program, St. Olaf College will match a congregational grant or scholarship from any faith community up to a maximum of $1,000 per student. This is a 1:1 match. If a student receives $500 from a faith community, they would receive $500 in STEP Grant funds from St. Olaf. If a student received a scholarship of $2,500 from a faith community, they would receive a $1,000 STEP Grant from St. Olaf. Faith community scholarship information and checks (made payable to St. Olaf College) should be submitted to St. Olaf College by August 15th.
VA Benefits and Yellow Ribbon
For more information on the VA Benefit and Yellow Ribbon program at St. Olaf,
St. Olaf College proudly participates in the Yellow Ribbon program. The Veteran’s Administration (VA) will pay St. Olaf through the Post 9/11 GI Bill for tuition and fee charges after other grants and/or scholarships have been subtracted. The tuition and fees cap for the current academic year is $21,970. Once that amount has been disbursed by the VA (usually happens in late October), any remaining tuition and fee charges for that academic year are eligible for the Yellow Ribbon program. St. Olaf will pay 50% of the remaining tuition charges through the Yellow Ribbon program which is then matched by the VA.
Here is an example situation (tuition is $46,000 for the 2016-17 Academic Year):
The student received $15,000 in St. Olaf Grants/Scholarships. The student then receives $22,806 in the VA Benefit. This leaves $8,194 remaining (46,000 – 15,000 – 22,806 = $8,194). The remaining amount of tuition would be covered through the Yellow Ribbon program ($4,097 from St. Olaf and $4,097 from the VA matching program).
Please see the Terms and Conditions of your financial aid award here: Terms and Conditions.