2008-09 Catalog - Saint Mary's College of California

Financial AidCollege Refund PolicyVeterans BenefitsStudents who withdraw during an academic term will have tuition chargesadjusted according to the schedule shown on p. 17.The College is required to follow the refund regulations published by theU.S. Department of Education for students who receive Title IV financialaid funds (federal Perkins Loans, federal SEOG, federal Pell Grant, federalCollege Work-Study, federal Stafford Subsidized and Unsubsidized Loanfunds, and Cal Grant funds). Student recipients of any of these funds whowithdraw from all of their classes within the first 60% of an enrollmentperiod will have their financial aid adjusted. The amount of federal aidthat will be returned will be determined by the number of calendar daysnot completed in an enrollment period divided by the total numberof calendar days in that period. If that percentage is less than 40%, noadjustment is required.Should regulations governing refund policies for federal student aidrecipients change, Saint Mary’s College will implement those changes.Current refund policy information may be requested from theFinancial Aid Office.Disbursement of AwardsEducation Benefit Program applications for members of the armedservices are available in the registrar’s office on campus. Letters seekingadvice or information concerning the College should be addressed to:Veterans, P.O. Box 4748, Saint Mary’s College, Moraga, CA 94575-4748.Saint Mary’s College of California is approved for the training of veteransand their eligible dependents under the various public laws which comeunder the direction of the Department of Veterans Affairs.Details and procedures are available from the Department of VeteransAffairs, Regional Office, P.O. Box 8888, Muskogee, OK 74402-8888or by calling toll-free 1(800) 827-1000 or (888) 442-4551, or visitwww.gibill.va.gov.California State Benefits forVeterans and Eligible DependentsApplications and information may be obtained from the following office:California Department of Veterans Affairs, Division of Veterans Services,1227 O Street, Suite 105, Sacramento, CA 95814-5840 or visitwww.cdva.ca.gov.Financial aid awards normally cover a full academic year. Funds aredisbursed in two equal installments at the time of registration for thefall and spring terms.Gifts and EndowmentsSaint Mary’s College is a private institution and receives no direct supportfrom taxes or other public funds, or direct financial assistance from theDiocese of Oakland.Annual operating expenses of the College are met principally, but notfully, by tuition and fees. The difference between that income and theactual cost of instruction and other services is underwritten by thecontributed services of the Christian Brothers, by annual fund donationsfrom alumni, parents and friends, and by income from an endowmentprincipal of approximately $165 million. Through these contributions, allstudents, including those paying full tuition, are aided in financing theirCollege education.In the face of rising costs, it becomes increasingly important to meet theexpenses of the College through contributions supplementing tuition andfees. Demands for augmented instructional, residential and recreationalfacilities, as well as requests for financial aid, place an even greaterburden on College resources.Those individuals who wish to support the College may do so by makingannual contributions for unrestricted support, scholarships or athleticgrants-in-aid. Those interested in gift opportunities related to new buildings,endowed professorships, endowed scholarships or program endowmentsshould contact the Saint Mary’s College Development Office.Saint Mary’s College of California is a nonprofit corporation. Contributionsare tax-deductible in accordance with state and federal laws. Giftsmay be made to the College through the Development Office, SaintMary’s College, P.O. Box 4300, Moraga, CA 94575-4300. For information,call (925) 631-4328.21