Self Help: Loans and Jobs

Federal Direct Loans: There are two kinds of federal direct loans. The subsidized loan is based on need; the federal government “subsidizes” the interest on this loan while the student is in school. The unsubsidized loan is not need-based; it is available to students regardless of personal or family income, but the loan accrues interest while the student is in school. Students are under full obligation to begin repayment of either loan six months after graduation or when they drop below the required course load.

Federal Direct PLUS Loans: A Federal PLUS loan is a fixed interest rate loan to help graduate students or parents of dependent students pay for their postsecondary education.

Federal Work Study: The University of Saint Mary offers part-time employment to help offset educational, living, and social expenses. Positions are available in areas such as the fitness center, offices, laboratories, library, cafeteria, reception desks, and switchboard. Awards are based on the student’s total financial need.

Private Loans: Private loans are used to help bridge the gap between actual costs and school, federal and state financial aid programs. Private loans are funded by private, third-party lenders. The University of Saint Mary partners with Fast Choice (a product of Great Lakes Education Loan Services) to help students and their families understand private loans. Institutions of higher education are prohibited from recommending private lenders. The private lenders on the University of Saint Mary’s website are just a few lenders who offer private loans.

Graduate Assistantships: The University of Saint Mary has a limited number of Graduate Assistantships available each year. Available positions will be posted on the University of Saint Mary employment page. Information may be obtained from the Human Resources office in Saint Mary 105.