Grants and Loans
We award most grants based on financial need. These grants include federal sources such as the Federal Pell Grant and state resources such as the North Carolina Need Based Scholarship. Additionally, we administer need-based grants to qualified individuals.
North Carolina residents can receive the North Carolina Need Based Scholarship (mentioned above) for all qualified, full-time North Carolina students. After the student files the FAFSA, the university will determine eligibility based on the information provided on the FAFSA.
Direct Stafford & PLUS Loans
St. Andrews, as a branch of Webber International University, participates in the William D. Ford Federal Direct Loan program. These are Stafford loans for students and PLUS loans for parents. The Stafford loan may be subsidized (need-based) or unsubsidized (non need-based). These loans are determined after the Office of Student Financial Planning receives a student’s FAFSA. Loan levels are set by the Department of Education and awarded based on the number of college credits a student has completed.
The Federal Direct Parent Loan for Undergraduate Students (PLUS) is a low interest loan for which repayment begins upon receipt of loan proceeds. A PLUS loan enables parents to finance up to the full cost of each student’s education minus grants and other financial aid received. A completed FAFSA is required prior to applying for a PLUS loan.
All loans require a signed master promissory note. This is the contract between the borrower and the Dept. of Education, that includes the terms and conditions under which the borrower promises to repay the loan. The master promissory note must be completed, signed, and returned to the Dept. of Education prior to any loan proceeds are credited to the student's account. You can apply online at www.studentloans.gov. You will need your FAFSA PIN number to sign in to the website.
Will you need to apply for an additional student loan? Many banks offer private/alternative loans. You can select the lender of your choice. Over the years we have worked with a number of lending institutions. We recommend the lenders referenced on the link below because of their borrower discounts, their electronic loan processing, and their service to our students and their families. Each lender’s web site has information about the borrower benefits they offer.
Click Loan Information to see various lenders from which you can choose to take a private/alternative loan with. Once on this website you may click on any specific loan institution logo and you will be taken to that institution’s website for their unique information.
Integrity of Lenders and Student Loans
We hold our responsibility and obligations to our students and their families in high regard. Nationally, there is significant scrutiny to the relationship of higher education institutions and the financial lending industry. Over 400 colleges and universities have been found to be participating with lenders for preferred treatment. We have NOT participated in any such action. Our Financial Aid Office has been through several audits that provide appropriate verification.
The National Association of Student Financial Aid Administrators (NASFAA) adopted a 12-point Statement of Ethical Principles that has served as a common foundation for accepted standards of conduct for the financial aid professional. Recognizing that the primary goal of the financial aid professional is to help students achieve their educational potential by providing appropriate financial resources, the statement addressed the standards that should be followed by these individuals in conducting their daily responsibilities. We have adopted these principles as an integral part of our responsibilities.
The Code of Conduct in its entirety is available on the NASFAA Web site.