Grants
Grants, unlike loans, do not have to be repaid and are need-based. Any grant recieved as a part of a financial aid package is credited directly towards a student’s tuition account. St. Olaf offers many need-based grants to students.
St. Olaf Scholarships
St. Olaf scholarships can pay up to $22,000 per year, based on financial need. Gifts given over the years by alumni, parents, faculty, and other friends of the college fund St. Olaf Scholarships. Scholarships are available to students with interest in any field of study who have demonstrated financial need. Once need has been established, scholarships are awarded according to scholastic standing, activity record, test scores, and recommendations.
St. Olaf Grants
St. Olaf grants are need-based and range up to as much as $22,000 per year. Funds are awarded to students whose need is not otherwise reasonably met with government grants, student loans, student work and St. Olaf scholarships.
Federal Pell Grants
Pell Grant awards range from $400 to $4,050 annually. Pell Grants are awarded by the federal government and are available to students with high financial need. Like all grants, the Pell Grant does not need to be repaid and is applied directly towards tuition.
Federal Supplemental Educational Opportunity Grants (SEOG)
Another program for students with exceptional financial need is the federally funded Supplemental Educational Opportunity Grant (SEOG). The amount of the award — up to $4,000 per year — is determined by the Office of Financial Aid.
Minnesota State Grants
The Minnesota State Grant program is limited to current Minnesota residents or students who are graduates of Minnesota high schools. Grants — up to $8,202 for the 2007-08 year — are determined through a uniform process developed by the Minnesota Higher Education Coordinating Board and awarded by the financial aid office.
