Undergraduate

Grants & Scholarships

Need-Based Grants

The university considers all full-time students in the Undergraduate College who submit a Free Application for Federal Student Aid (FAFSA) for the following need-based funds:

St. Edward's University Grants
St. Edward's University grants are available to students who show financial need according to the Free Application for Federal Student Aid (FAFSA) by the university priority deadline date. Each year, the university provides a significant volume of grants to offset tuition. 

Texas Tuition Equalization Grant (TEG)
This need-based grant is offered to eligible full-time undergraduate students who are Texas residents. Students who receive athletic scholarships are not eligible to receive TEG assistance.

Federal Pell Grant
Federal Pell Grants are offered by the U.S. Department of Education to undergraduate students with exceptional need. Eligibility for this grant is determined by the U.S. Department of Education when the student completes the Free Application for Federal Student Aid (FAFSA®).   The U.S. Department of Education has a standard formula that it uses to evaluate. The formula used was created by Congress from criteria submitted through the FAFSA form. The formula produces a number that is called the Expected Family Contribution (EFC), which determines the student's eligibility for the Federal Pell Grant.  An undergraduate student must be pursuing a first bachelor's degree, be a United States citizen, or be an eligible non-citizen (usually, a permanent resident).  Students must renew the FAFSA annually and continue to be identified by U.S. Department of Education as Pell-eligible. 

Federal Supplemental Opportunity Grant (SEOG)
This federal need-based grant is offered in limited numbers to eligible full-time undergraduates who receive the maximum Pell Grant.

University and state grants along with university scholarships are offered for a maximum of four years (8 semesters) of full-time enrollment to eligible students who enter as a freshman and up to a maximum of three years (6 semesters) of full-time enrollment to eligible students who enter as a transfer.  Exceptions: graduating seniors in a final semester of a program and students with approved modified status through the Office of Student Disability Services. 

Specialty Scholarships

• Athletic

St. Edward's University competes in the Heartland Conference and is a member of NCAA Division II. Scholarships are provided for men's and women's basketball, cross country, tennis, soccer, golf, and cheerleading. Additionally, there are men's scholarships for baseball and women's scholarships for softball and volleyball. Contact coaches by calling the St. Edward's Athletic Department at 512-448-8480.

• Theater Scholarship

A Theater Scholar receives a scholarship annually for up to four years. Students must major in Theater Arts to be eligible and must maintain at least a cumulative 2.5 GPA.

Criteria: Students are selected based on their demonstrated talent in one of four areas:

• Acting
• Directing
• Theater Management
• Technical design and direction

Application and Deadline 
Auditions for these scholarships are held at St. Edward's in late February or early March. If you're interested, make sure you apply for admission first. Email an admission counselor if you have questions about auditions.

• ROTC

St. Edward's University students have the opportunity to participate in Air Force and Army ROTC through the University of Texas at Austin. Each ROTC program offers numerous scholarship opportunities. Some participants receive a full-time scholarship and a book allowance, as well as a monthly stipend.

Applicants should contact Air Force ROTC at 512-471-1776 or Army ROTC at 512-471-5919 for further information.

Education Loans

Many of our families use educational loans to help finance the cost of their student's educational expenses in lieu of higher-interest credit cards or short-term payment plans.  The federal loan programs, in particular, provide easy eligibility criteria, deferment of payments while enrolled, extended repayment periods, flexible repayment options, and low, fixed interest rates.

Federal Direct Student Loans

The Department of Education provides federal direct student loans for degree-seeking undergraduate students. These non-credit-based loans feature low, fixed interest rates, as well as deferment of payment during periods of at least half-time enrollment. Submission of a FAFSA (the Free Application for Federal Student Aid) is required to certify a student's eligibility to participate in this program.

The amount a student can borrow annually is primarily determined by the student's grade level:

Dependent Undergraduates*
Freshman (0 to 29 earned hours)	$5,500-No more than $3,500 of this amount may be in subsidized loans.
Sophomore (30 to 59 earned hours)	$6,500-No more than $4,500 of this amount may be in subsidized loans.
Junior (60 to 89 earned hours)	$7,500 per year-No more than $5,500 of this amount may be in subsidized loans.
Senior (90+ earned hours)	$7,500 per year-No more than $5,500 of this amount may be in subsidized loans.

Independent Undergraduates and dependent undergraduate students whose parents are unable to obtain PLUS Loans) *
Freshmen (0 to 29 earned hours)	$9,500-No more than $3,500 of this amount may be in subsidized loans.
Sophomore (30 to 59 earned hours)	$10,500-No more than $4,500 of this amount may be in subsidized loans.
Junior (60 to 89 earned hours)	$12,500-No more than $5,500 of this amount may be in subsidized loans.
Senior (90+ earned hours)	$12,500-No more than $5,500 of this amount may be in subsidized loans.

*Dependency status for federal financial aid purposes is determined by criteria set by law, and typically involves a student's age, marital status or degree program (bachelor's vs master's). If you were required to include parent information on your FAFSA, then you are considered a dependent student.

Subsidized vs Unsubsidized Direct Loans
Some students may qualify for a subsidized Federal Direct Student Loan where the Department of Education will pay the accruing interest on that loan while that student is enrolled in school at least half-time. A subsidized loan is awarded on the basis of financial need as determined by a student's FAFSA results in relation to the school's cost of attendance. Because need-based eligibility is largely tied to income, not all students qualify for a subsidized loan. However, these students can still borrow a comparable amount of loan through the unsubsidized program.

Aggregate Loan Limit 

Dependent Students (except students whose parents are unable to obtain PLUS Loans) $31,000-No more than $23,000 of this amount may be in subsidized loans.

Independent Students (and dependent undergraduate students whose parents are unable to obtain PLUS Loans) $57,500 for undergraduates-No more than $23,000 of this amount may be in subsidized loans.

Federal Direct Loan Interest Rates for 2022-2023

Interest Rates for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans First disbursed on or after July 1, 2022 and before July 1, 2023.

On May 11, 2022, the Treasury Department held a 10-year Treasury note auction that resulted in a high yield of 2.943%. The chart below shows the interest rates for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans first disbursed on or after July 1, 2022 and before July 1, 2023.

Direct Subsidized Loans and Direct Unsubsidized Loans for Undergraduate Students  4.99%

Federal Direct Loan Interest Rates for 2023-2024

Interest Rates for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans First disbursed on or after July 1, 2023 and before July 1, 2024.

On May 10, 2023, the Treasury Department held a 10-year Treasury note auction that resulted in a high yield of 3.448%. The chart below shows the interest rates for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans first disbursed on or after July 1, 2023 and before July 1, 2024.

Direct Subsidized Loans and Direct Unsubsidized Loans for Undergraduate Students  5.50%

Understand how interest is calculated and what fees are associated with your federal student loan.

Federal Direct Parent PLUS Loan

The Department of Education also provides an additional credit-based loan opportunity for parents of dependent undergraduate students which allows them to borrow up to their student's full cost of attendance minus other aid. Payment typically begins 30 to 60 days after full disbursement of the loan funds to the university, although deferment provisions are available for students enrolled at least half-time in a degree-seeking program.

Completion of the Free Application for Federal Student Aid, a Federal Direct PLUS Loan Promissory along with a loan request form are required parts of the application process. Learn more and apply through Federal Student Aid. 

Federal Direct Parent Plus loan Interest Rates for 2022-2023

Interest Rates for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans First disbursed on or after July 1, 2022 and before July 1, 2023.

On May 11, 2022, the Treasury Department held a 10-year Treasury note auction that resulted in a high yield of 2.943%. The chart below shows the interest rates for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans first disbursed on or after July 1, 2022 and before July 1, 2023.

Direct PLUS Loans for Parent of Dependent Undergraduate Student Interest Rate  7.54%

Federal Direct Parent Plus loan Interest Rates for 2023-2024

Interest Rates for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans First disbursed on or after July 1, 2023 and before July 1, 2024.

On May 10, 2023, the Treasury Department held a 10-year Treasury note auction that resulted in a high yield of 3.448%. The chart below shows the interest rates for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans first disbursed on or after July 1, 2023 and before July 1, 2024.

Direct PLUS Loans for Parent of Dependent Undergraduate Student Interest Rate  8.05%

Understand how interest is calculated and what fees are associated with your federal student loan. 

Understanding Loan Repayment

A student that has borrowed a federal loan is required to complete exit counseling when you leave school or drop below half-time enrollment. The purpose of exit counseling is to ensure you understand your student loan obligations and are prepared for repayment

Learn more about make payments, change repayment plans, explore options, and get help at the Deportment of Education Student Financial Aid website. 

How to Avoid Student Loan Forgiveness Scams

If the emails, phone calls, and text messages you’re receiving about student loan forgiveness are setting off your scam sensor, we’ve got you covered. Learn more about the most common student loan forgiveness scams and how to avoid them. Visit Federal Student Aid. 

BIDEN-HARRIS ADMINISTRATION'S STUDENT DEBT RELIEF PLAN

The Biden-Harris administration has announced that borrowers who had a Federal Direct Loan disbursed on or before June 30, 2022 could potentially qualify for loan forgiveness.

View information on the Biden-Harris Administration's Student Debt Relief plan.

Specific questions about whether you will be eligible for loan forgiveness should be directed to your student loan servicer.  You can look up your student loan servicer once you log in with your FSA ID and password.

You can apply for Federal Student Loan Debt Relief.

You can look up whether or not you received a Pell Grant in the past.  Log in with your FSA ID and password and you should see your grant total on the front page in the Dashboard section. 

New loans being disbursed after June 30, 2022 would not be eligible for this forgiveness.

Private Education Loans

Remember that interest rates and fees are generally lower for federal student loans than private student loans.

St. Edward's, in conjunction with Elm Resources, maintains information on a number of alternative loan programs offered through private banks and lending groups.

Because these are non-federal loans, each lender sets its own eligibility criteria, interest rates, processing fees, and repayment terms.  Generally, students must meet fairly high credit standards to qualify on their own, so many students will need a credit-worthy cosigner in order to qualify.  If approved, students can typically borrow up to their full cost of attendance minus any other aid the student is receiving for the period of attendance set to be covered by the loan.  Students will receive a finalized disclosure statement after their master promissory note has been signed confirming the terms and conditions of their loan from the lender.

Federal regulations require all private loan borrowers to review a series of disclosures and complete the applicant self-certification form. The student may obtain a copy of the self-certification form from the private educational loan lender.

Due to the required credit review, Student Financial Services cannot guarantee that all students who apply will qualify for loan funds.  Approval is determined by the lender. 

Please note that a lender's inclusion in this list is not meant as an endorsement by the university, nor is it meant to limit your selection of a private education loan.  These particular lenders have been included because:

• they have a proven track record of reliable customer service;
• they offer competitive interest rates and repayment terms; and
• they utilize electronic processing compatible with the university’s financial aid management system ensuring consistent and timely delivery of loan funds. 

However, the Office of Student Financial Services will certify an application for any private education loan regardless of whether the lender appears on this list or not.

Once you have decided upon a lender, please contact your Student Financial Services Advisor for the information you'll need to provide as part of your application for the loan, including loan period, cost of attendance, and total amounts of other assistance.

St. Edward's University does not receive any form of payment or renumeration from lenders in exchange for inclusion on this list.