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Grants are outright gifts that do not require repayment. Grants can be awarded in addition to scholarships.
Principia offers private, institutionally funded, student loans with a 5% interest rate that are repayable over 10 years. The loan does not accrue interest or require repayment until 9 months after the student withdraws or graduates. The loan may be deferred for various reasons including graduate school enrollment. If a student does not qualify for need-based aid, Principia will offer a co-signed loan requiring a parent signature. Principia has a $6,000 annual cap on lending.
Part-time jobs are available to students to help offset expenses other than tuition. Our Student Employment Office is here to help you find and apply for positions in departments and offices at the College.
While there are many outside scholarship and loan sources available, we do not recommend using fee-based services. However, the following resources are legitimate organizations to which you might consider applying for aid.
Albert Baker Fund
This private organization provides low-interest loans and grants to students who are sincere, active students of Christian Science. For information and an application, go to their website at www.albertbakerfund.org.
This organization provides grants to Texas residents who are Christian Scientists and who attend a U.S. college or university. Visit their website at www.sunnysidetexas.org, or call 214.692.5686.
Illinois Educational Foundation for Christian Scientists
Residents of Illinois, Indiana, Iowa, Kentucky, Missouri, and Wisconsin may be eligible for these grants. Contact: P.O. Box 6072, Champaign, Illinois 61826.
Scholarship Foundation of St. Louis
This interest-free loan program for undergraduates awards loans of up to $4,500 annually. Loans are available to students who are permanent residents of the St. Louis metropolitan area or who live in specific counties in Missouri and Illinois. For further information, e-mail the Scholarship Foundation, visit their website, or call 314.725.7990.
Many firms and unions provide scholarships to employees and their children. Local philanthropic organizations also provide aid to residents. Contact your guidance counselor, union office, or company personnel office for information.
Books are available at public libraries with information on grant, loan, and scholarship programs across the country. Scholarship information can also be found online. These two websites might be helpful: www.finaid.org and www.fastweb.com.
Since Principia aid does not cover 100 percent of College costs, it is expected that you will come to Principia with enough funds to cover whatever remains after financial aid has been applied. Many students find that summer jobs are vital to help them pay for expenses during the school year.