Applying for Financial Aid
St. Louis College of Pharmacy offers financial aid to students by performing a holistic evaluation of students’ academic achievement, financial need, community service, and leadership experience.
All students are encouraged to follow the steps for applying for financial aid to ensure that they maximize their financial aid eligibility. Admissions applications serve as students' scholarship applications. Completing admissions applications early maximizes scholarship opportunities.
Students wishing to apply for financial aid must first obtain an FSA ID at https://fsaid.ed.gov/npas. Students will use their FSA ID as the electronic signature on their Free Application for Federal Student Aid (FAFSA). Parents of dependent students (students younger than 24 years old enrolled in one of the College's three undergraduate years) must also obtain an FSA ID and sign the FAFSA.
Students should complete a Free Application for Federal Student Aid (FAFSA) every winter, and are strongly encouraged to complete the application by March 15. The FAFSA is used to determine students' eligibility for need-based grants, student loans, and on-campus student employment.
Beginning in early February, you may use the IRS Data Retrieval Tool to load financial information to your FAFSA directly from your Federal tax return – this will make completing the FAFSA, and subsequent financial aid application steps, much easier. Follow the FAFSA instructions beginning on Question 79 to use this feature.
Additional FAFSA completion notes:
- St. Louis College of Pharmacy’s Federal school code is 002504
- For the 2016-17 academic year, answers to Question 29 (year in school) are:
- STLCOP Undergraduate Year 1= First Year - Never Attended
- STLCOP Undergraduate Year 2 = Second Year - Sophomore
- STLCOP Undergraduate Year 3 = Third Year - Junior
- STLCOP Professional Year 1 = First Year Graduate/Professional Student
- STLCOP Professional Years 2-4 = Continuing Graduate/Professional Student
- For the 2016-17 academic year, answers to Question 30 (degree program) are:
- STLCOP Undergraduate Years 1 - 3 = 1st Bachelor's Degree
- STLCOP Professional Years 1 - 4 = Graduate/Professional Degree
- Missouri residents should file the FAFSA before April 1, 2016 to be considered for the Access Missouri Grant, a need-based state grant.
Beginning in March, the Financial Aid Office will email financial aid award notices to students whose FAFSA results have been sent to the College. Award notices will include scholarships, grants, and student loans for which students are eligible; they will also include instructions for finalizing students' financial aid.
Financial aid award notices will be emailed to current students' STLCOP.edu addresses and to the email addresses reported on the admissions applications of new students.
Students are invited to meet with one of the College's financial aid representatives to review the costs of their upcoming year, their financial aid, and options available for paying costs remaining after financial aid is disbursed. New students are strongly encouraged to schedule a financial aid appointment. Telephone appointments are available.
Students may call (800) 278-5267, extension 4001 to schedule a financial aid appointment.
After reviewing your financial aid award notice and your expected costs, you should visit the College's Financial Aid Web Portal to accept or decline the financial awards offered. Students must accept their financial aid awards before they are released.
The Web Portal will also list documents you must submit to the Financial Aid Office to finalize your aid, and your lifetime student loan totals.
Students will be notified of additional items required to complete their financial aid when receiving their financial aid award notice. All additional items must be completed before financial aid is released. Common documents and processes students must complete include:
- Direct Stafford Loan promissory notes and entrance counseling which must be completed at www.studentloans.gov.
- Need-based student loan promissory notes which are available in the Financial Aid Office.
- Financial aid verification documents like student and parent tax return transcripts (unnecessary if students use the IRS Data Retrieval Tool on the FAFSA) and verification worksheets. Students should only submit verification documents if they are requested by the Financial Aid Office.
Most students' initial financial aid awards will pay much of their college costs, but not all of the costs of tuition, fees, and living expenses. In addition to the College's Deferred Payment Plan, the following options are available to students and families in need of additional financial assistance:
- Parent PLUS Loans - Parents of undergraduate students may borrow Federal Parent PLUS loans. Parent PLUS loans offer fixed interest rates, post-graduate deferred repayment, and flexible repayment options. Parent PLUS loan applications are available at www.studentloans.gov. First time PLUS loan borrowers must also complete a master promissory note online at www.studentloans.gov.
- Graduate PLUS Loans - Graduate students may borrow Federal Graduate PLUS loans. Graduate PLUS loans offer fixed interest rates, post-graduate deferred repayment, and flexible repayment options. GraduatePLUS loan applications are available at www.studentloans.gov. First time PLUS loan borrowers must also complete entrance counseling and a master promissory note online at www.studentloans.gov.
- Private Student Loans - students may borrow a private student loan from a private lender like a bank or credit union. Students are much more likely to be approved for and receive a better interest rate on private loans when applying with a cosigner. A list of private lenders used by STLCOP students is available on the College's FastChoice website, however students are not restricted to the lenders on the list.
- Interest rates – Are they variable or fixed?
- In-school deferment – Does repayment begin while you are in school or when your attendance ceases?
- Cosigner release policies – Will the cosigner be removed from the loan if the primary borrower (the student) makes on time payments once you begin repayment?
- Origination fees – Will the entire amount you borrow be received or does the lender charge a fee to borrowers?