Traditional Undergraduate Financial Aid

1. Apply for admission to Concordia University, St. Paul

2. Complete the FAFSA (Free Application for Federal Student Aid)
*CSP’s school code is 002347

3. Watch for your emailed award letter in your inbox.
Your admissions counselor will contact you to discuss your award after it is emailed.  Please see the FAQ below for help understanding your award.

Admitted to CSP? Check out what comes next in the financial aid process.

Stafford Loan

(assuming the student is independent on the FAFSA form)

• Freshman (0 -31 credits) | $9,500 maximum
• Sophomore (32-63 credits) | $10,500 maximum
• Junior or Senior (64 or more credits) | $12,500 maximum

There are two types of Stafford loans:

• Subsidized (federal government pays interest while a student is in school)
• Unsubsidized (student pays interest while in school or interest accrues)

Accepting a Stafford Loan
To accept a Federal Stafford Loan, please complete the Stafford loan entrance counseling and sign this Stafford Master Promissory Note (MPN).

Private Education Loans

If your tuition was not covered fully by Federal Stafford loans and Need-Based Grants, you will need to pay the remainder out of pocket or apply for a Private Educational Loan. There are many types of student loans, and it is important for you to choose the one that best meets your needs. FASTChoice is a tool that helps you to compare lenders and their loan products.

An Income Share Agreement, or ISA, provides an alternative funding option to supplement student’s financial aid and federal loans. ISAs provide funding for certified tuition and fees in exchange for a student’s promise to pay a fixed percentage of his or her future income for 5 years following graduation.

Stride Funding currently provides ISA funding options to students enrolled in eligible programs at Concordia St. Paul. With an ISA from Stride Funding, you do not need a cosigner or current income, as they look at where you’re going (future income), not where you’ve been. Plus, all Stride students automatically become a member of the Stride Community, giving you access to career support (e.g., monthly content, exam prep, interview guidance) and a broader community of peers who can support you as you begin your professional journey.

• Learn More and Get a Quote

The earliest students and their families may apply for financial aid is October 1. Awarding begins in November. Also, the earlier students and their families apply for financial aid, the sooner they will receive their award package.

A typical financial aid package starts with consideration of the Expected Family Contribution (EFC) as determined by the FAFSA submission. Using the EFC, Concordia University will award institutional, state, and federal grants as eligibility allows. Campus work-study and student loans also will be awarded to meet demonstrated financial need only. The PLUS loan, a loan for parents and private education loan options will be presented if additional help is needed.

Students must be admitted to Concordia University and have completed a FAFSA. Approximately 10 days after the application file is complete students can expect to receive their financial aid award package.

Students, parents, and borrowers are required to use an FSA ID, made up of a username and password, to access certain U.S. Department of Education websites. Your FSA ID is used to confirm your identity when accessing your financial aid information and electronically signing your federal student aid documents. The FSA ID replaced the Federal Student Aid PIN on May 10, 2015.

• Learn more and create your ID

Grant money is applied to student accounts on the first day of classes. Federal loan money is applied to student accounts following the drop-add period. Private loans are disbursed as soon as all requirements are met.

If a credit balance remains after all tuition and fees have been paid for the semester, students receive the overage within 14 days. Overages are determined after the drop/add deadline.

To Complete Verification:

You will be notified via email that you have been selected for verification from [email protected] with instructions to complete the process through our Verify My FAFSA site (and listed below).

Get started by logging into Blackboard and following these instructions.

Questions?
Don’t hesitate to reach out to our Verification Team with any questions. They are here to help!

• 651-641-8776
• [email protected]

What information can be found on my award letter?
Your award letter shows you your costs and the total amount of aid (Federal, State and CSP based aid) you qualify for in a given academic year to cover those costs. The academic year runs from fall (August) through summer (July).

Why does my award not show any summer aid?
Your award will only show aid for fall and spring; summer aid is awarded during the end of the spring semester for those students who enrolled for at least 6 credits and complete a summer financial aid application. The application is available in the Student Financial Services department.

How much does Concordia University cost?
Most charges are listed in the COST area of your award letter. The most common costs are tuition, room and board. The cost of tuition for a traditional student is based on the credit load taken, and details can be found in the Tuition and Fees section on this webpage.

Single room options or alternative meal plans will incur additional fees. Please contact your admissions counselor with specific questions regarding cost.

What other charges are not listed in the cost section?
Some additional charges that can increase the tuition costs:

Private Music Lessons cost $215 for 30 minute lessons and $430 for an hour lesson.

Science classes with labs will commonly have lab fees ranging from $25-$50.

Reference other costs in the Tuition & Fees section below or with the Student Financial Services department at
(651) 603-6300 or [email protected]

How much aid have I been offered?
Offered aid is listed in two sections, Gift Aid (money that doesn’t have to be paid back) and Loans (money that you eventually repay).

Gift aid is commonly academic, athletic or departmental scholarships, as well as Federal, State or institutional grants. Since gift aid doesn’t have to be paid back, no additional documentation is needed to accept this aid.

What does my “amount remaining to pay” include?
This amount is your costs minus gift aid. This amount does not reflect any non-CSP grants and scholarships OR loans you may have applied for. This balance reflects the additional aid you need to secure to cover your balance.

How do I cover my remaining balance?
Notify the Student Financial Services department of any non-CSP scholarships and grants that you are expecting. You can deduct the scholarship amounts from the balance due and then consider if you will pay any portion out of pocket.

If you will not pay any funds out of pocket, you may consider applying for student loans to cover the remaining amount. If you are paying a portion or all of the remaining balance out of pocket, then you can make a payment via the cashier or online by credit card or from your checking or savings account. You may also want to consider a payment plan. Information on payment plans is available on the payments page. Make a payment now

Which loan do I choose? I have been offered more than one.
We offer you multiple loan programs because there are different regulations with each and some programs may be more appealing to you. Also, some loan programs have annual limits and one loan may not cover all of your costs, so you may need to apply for more than one. Specific questions can be answered by your financial aid counselor.

Do I have to accept all the loans offered?
We commonly offer loan amounts above what you may need but that doesn’t mean you have to accept the offered amount. The award letter is a reflection of the maximum amount of gift aid and direct Stafford loans you qualify for; you can request a reduction in any of the offered aid. You should only apply for the amount of loan funds you need.

When I apply for a loan, what period should it cover?
If you plan to be enrolled in both the fall and the spring semesters your student loan will be set for one disbursement each semester, if you are graduating after one semester, then you can apply for a fall-only or spring only loan.

Can I take out a loan for one semester only?
In most situations, you should apply for the loan for both semesters and the funds are sent in two equal disbursements. This way, you apply for the loan in the fall semester and funds will come in the fall and spring.

Will I receive the full amount of the loans offered to me?
One thing to remember is that with Stafford loans, and some other loans, there can be loan processing fees charged. The fee is commonly 2% of the total amount and this fee is taken out of the total loan amount. So, if you are offered and accept $3500 in Stafford funds, you will receive $3,430 for the year ($70 is the 2% loan charge), which is $1,715 per semester. Please keep that in mind when you are trying to cover your balance.

Can I include work-study funds in my aid?
Work-study funds are earned when you are hired for either an on-campus or certain selected off-campus positions. Those funds are earned as you work and are paid bi-weekly. You can chose to have your earnings paid directly to you or have them go directly towards your balance. Commonly students use the funds for miscellaneous expenses they incur. For more information on how to apply work-study funds to your balance, please speak with your financial aid counselor.

Can I buy books using my aid?
Yes, if you have a surplus on your account. When you have more aid coming in than your costs, you have a surplus of aid. You may use those funds to pay for your books. If aid is not received yet, and as long as all the proper documentation has been completed, we can “charge” your books to your student account. To set this up, see your financial aid counselor.

Can I borrow more aid than what my costs are?
Yes, you can use any of the offered aid to assist you with any educational-related expenses. For instance, many students who live off-campus use the additional funds to rent, food, gas, etc.

I have additional funds in my student account, how can I get them?
Once your funds are received and your charges are paid, your funds will be sent to you. You need to set up a direct deposit for the funds to be released to the checking or savings account of your choice.

What is the contact information for the Student Financial Services department?
Hours: 9am – 4:30pm (Monday – Friday)
Phone: (651) 603-6300
Fax: (651) 603-6298
[email protected]