Saint Xavier University Chicago Campus Residence Halls

Federal Financial Aid


Federal Pell Grant Program: A federally funded grant program for undergraduate students with exceptional financial need. Award amounts are determined in part by your enrollment level.

Federal Supplemental Educational Opportunity Grant (FSEOG): A federally funded grant program for undergraduate students with exceptional financial need. 

Federal Perkins Loan: Federal loan with a fixed interest rate of five percent, awarded to students with exceptional financial need. Principal and interest payments are deferred until nine months after the student is no longer enrolled at least half time. The minimum monthly payment is $40, and the standard repayment is 10 years.

Direct Stafford Loan: Federal loan with a variable, fixed interest rate. The principal and interest may be deferred until six months after the student is no longer enrolled at least half time. The minimum monthly payment is $50, and the standard repayment is 10 years. There are two types of Direct Stafford Loans: subsidized and unsubsidized (detailed below).

  • Direct Stafford Loan Amounts Per Academic Year (Subsidized and Unsubsidized Combined):
    Freshmen:   $5,500
    Sophomore:   $6,500
    Junior and Senior:   $7,500
  • Direct Subsidized Stafford Loan: Available to students with financial need; student is not responsible for interest charges while enrolled at least half-time. This loan has a variable, fixed interest rate that readjusts annually on July 1 for loans borrowed in the upcoming year.
  • Direct Unsubsidized Stafford Loan: Available to all students, who file for financial aid using the FAFSA, regardless of financial need; interest begins to accrue immediately after disbursement. This loan has a variable, fixed interest rate that readjusts annually on July 1 for loans borrowed in the upcoming year. Independent students and dependent students whose parents do not qualify for the PLUS loan may borrow an additional $4,000-$5,000 annually (based on academic level). Students have the option to pay interest while in school or defer the interest until the loan goes into repayment.

Direct PLUS Loan: A credit-based loan borrowed by the parents of dependent undergraduate students. This loan has a variable, fixed interest rate that readjusts annually on July 1 for loans borrowed in the upcoming year. Repayment begins immediately, unless the option to defer payment until after the student's graduation is selected. The standard repayment term is 10 years. Parents may borrow up to the cost of education less other financial aid.

Federal Work-Study: A federally funded work program. Students work part-time, on-campus jobs, and wages are paid jointly by federal funds and the University. Students have the option of using their paychecks to make payments on their balance or to keep as personal spending money.

Federal TEACH Grant (Teacher Education Assistance for College and Higher Education): A federal grant program that provides grants of up to $4,000 per year to students who intend to teach in a specified high-need field at a public or private elementary or secondary school that serves students from low-income families. Students must be admitted to the School of Education and have a GPA of at least 3.25. If the service obligation is not met, TEACH grant funds are converted to a Direct Unsubsidized Loan. Interested students must apply annually by completing an Agreement to Serve. Eligible students will be contacted by the Office of Financial Aid via email.