Types of Aid
In addition to institutional scholarships and aid, students may apply for a variety of federal and state aid programs. Together, these different types of aid create a financial aid package that can help cover the cost of your education.
Completion of the FAFSA or other applications may be required.
How Aid Works
Students are considered for two basic types of financial aid:
- Need-based aid: Financial aid awarded on the basis of financial need. The process for determining financial needs begins by completing the Free Application for Federal Student Aid (FAFSA). This federal form compiles financial information needed for the federal government to assess the needs of individual students. Need-based aid includes federal loans and grants, Missouri State Grants (Missouri residents only) and endowed scholarships.
- Non-need-based aid: Financial aid awarded on the basis of a student’s ability, talent or unique characteristics, such as academic achievements, athletic ability, etc. Unsubsidized federal loans are non-need based aid, but require recipients to file their FAFSA.
Grants are based directly on a student’s financial need and do not require repayment. The federal government is the largest source of need-based grants. Other sources include the State of Missouri and University of Health Sciences and Pharmacy in St. Louis.
- The federal government offers several types of grants, which vary in amounts awarded. They include Pell Grants and Federal Supplemental Educational Opportunity Grants (FSEOG).
- Missouri offers state residents the need-based Access Missouri Grant and the merit-based Bright Flight Grant. Missouri residents must complete their FAFSA by April 1, 2020, to be considered for the Access Missouri Grant.
The Federal Work-Study Program provides part-time, on-campus job opportunities for students. Work-Study students work an average of five to six hours per week and are paid monthly for total hours worked.
Once enrolled, students may view on-campus employment opportunities via Handshake.
Student loans are available to students and parents who wish to borrow money to help meet educational expenses. Students at the University are eligible for several programs.
Direct subsidized and unsubsidized loans are federal loans available to students who file a FAFSA. Direct loan eligibility and amounts are determined by a student’s financial need, level of enrollment and enrollment status.
Federal Stafford loans are the most common form of government student loans, and are awarded to college students who file the FAFSA. Stafford loans have a 4.29% fixed rate and deferred repayment.
PLUS loans are federal loans available to parents of dependent students and to graduate students. PLUS loan applications should be completed no earlier than June 1 for academic years beginning in August. PLUS loans have a 6.48% fixed rate and a deferred repayment option.
For questions, contact the Office of Financial Aid at 314.446.8167 or firstname.lastname@example.org.