Financial Aid Programs

The following programs are available to all students who complete the Free Application for Federal Student Aid (FAFSA) and meet the established criteria for each program.  Each of these financial aid programs may be disbursed on the student's tuition account in two equal installments and may require additional paperwork to receive the funds.

Contact Us

Questions regarding Financial Aid can be directed to:

St. Luke's College
Financial Aid Office
2800 Pierce Street
Sioux City, Iowa 51104
(712) 279-3149

Federal Grants

Federal Pell Grant

Based on Financial Need
Federal Pell Grants are awarded to high need undergraduate students.  The award is based on the student's enrollment status.  Students enrolled less than half time may be eligible.  Maximum award is up to $7,395 per year. 
 

Federal Supplemental Education Opportunity Grant (SEOG)

Based on Financial Need
Federal Supplemental Education Opportunity Grants are awarded to students that qualify for the Federal Pell Grant. The SEOG program is funded directly through St. Luke's College by the U.S. Department of Education.  Awards range from $650 - $1,000.
Federal Loan Programs

Federal Nursing Student Loan (NSL)

Based on Financial Need
Federal Nursing Student Loans are awarded to students based on financial need and enrollment in the nursing program.  Students must be enrolled at least half time (6 credits) to be eligible.  The interest rate is 5%.  Repayment begins nine months after enrollment ceases.  An additional promissory note must be completed prior to receiving the funds. 
 

Federal Direct Subsidized Loan

Based on Financial Need

Federal Direct Subsidized Loans are awarded to students based on financial need.  Students must be enrolled at least half time (6 credits) to be eligible.  Funds from this program are borrowed through the U.S. Department of Education.  Interest is paid by the U.S. Department of Education for the student as long as they are enrolled at least half time.  Interest rate for loans first disbursed between July 1, 2024 and June 30, 2025 is 6.53%.  Loans disbursed on or after October 1, 2020, the origination fee is 1.057%.    Student eligibility will be listed on the award letter.  The annual loan maximums are $3500 for 1st year students, $4500 for 2nd year students and $5500 for each year in the bachelor degree programs.  Additional paperwork is required. 

Federal Direct Unsubsidized Loan Program

Not Based on Financial Need
Federal Direct Unsubsidized Loans are awarded to students that do not demonstrate financial need. Students must be enrolled at least half time (6 credits) to be eligible. The student is responsible for the interest on the loan.  Interest statements will be sent to the student providing the opportunity to pay the interest.  If interest payments are not made the interest will capitalize, therefore the student is encouraged to pay the interest.  Interest rate for loans first disbursed between July 1, 2024 and June 30, 2025 is 6.53%.  Loans disbursed on or after October 1, 2020, the origination fee is 1.057%.  Students are awarded a base Unsubsidized Stafford Loan of $2000 in addition to the Subsidized Stafford Loan.  Independent students, or students of parents that were denied a Parent Plus Loan, may borrow up to an additional $4000 in the associate degree programs and $5000 in the bachelor degree programs.  Additional paperwork is required.
 

Federal Direct Parent Plus Loan

Not Based on Financial Need
A Federal Direct Parent Plus loan is a loan to help parents pay for their dependent student's education. The student must be enrolled at least half time (6 credits) to be eligible. The loan is in the parent's name and based on credit history.   Interest accrues starting at the disbursement of the loan but it can be deferred if the borrower qualifies.  Maximum loan limits are determined by the cost of education minus financial aid.  Any borrower with adverse credit history may be denied the PLUS loan.  The student may borrow an additional Unsubsidized Loan upon denial of the PLUS loan.  Interest rate for loans first disbursed between July 1, 2024 and prior to June 30, 2025 is 9.08%.  Loans disbursed on or after October 1, 2020, the origination fee is 4.228%.  Additional paperwork is required. 
 
**For more information on the Federal Direct Loans please visit the direct loan website:
Federal College Work-Study Program (CWSP)

Federal College Work-study Program (CWSP)

Based on Financial Need
The Federal College Work-study Program provides part time jobs during the academic year.  These jobs are on the college campus.  Salary will begin at the federal minimum wage.  A maximum award will be listed on the award letter.  An additional application is required.  Students may be interviewed for available positions.  Awards range from $750 - $1500.
State of Iowa Financial Aid Programs
Iowa College Aid administers need-based college financial aid for Iowans.
For more information regarding the State of Iowa financial aid programs please visit www.educate.iowa.gov.
 

Iowa Tuition Grant

Based on Financial Need
The Iowa Tuition Grant program is available to students that are residents of the State of Iowa, file the FAFSA on or before July 1, enroll in at least three credit hours at a private institution in Iowa and have financial need. Full time maximum award is $7,500 per year. In the event that available state funds are insufficient to pay the full amount of each approved grant, the Iowa Department of Education has the authority to administratively reduce the award.
 

Iowa National Guard Educational Assistance Grants

Not Based on Financial Need
The General Assembly appropriates funding to provide educational support for members of the Iowa National Guard. The Iowa Adjutant General determines eligibility.
 

Future Ready Iowa Last Dollar Scholarship

The Future Ready Iowa Last Dollars Scholarship (Last Dollars Scholarship) is a non-need-based, state-funded grant program for Iowans who are attending a certificate or associate degree program associated with high-demand careers. Award amounts differ based on other forms of financial aid the student may be receiving. 

 

All Iowa Opportunity Scholarship

The All Iowa Opportunity Scholarship (AIOS) is for students who do well in high school and demonstrate financial need. The maximum award is $5,198 per year.


GEAR UP Iowa Scholarship

The Karen Misjak GEAR UP Iowa Scholarship provides full time awards up to $2,800 for students who part of the GEAR UP Iowa State-wide cohort.  Scholarships are sent directly to the college/university the student is attending and can be used to pay for tuition/fees, room/board, books/supplies, and personal/living expenses while in college.

Alternative Programs

College Tuition Grant Program for Employees and Dependents of a UnityPoint Health Facility

This opportunity is available to employees of UnityPoint Health to further their education. The employee must be admitted to a UnityPoint Health College program and complete an application to request assistance each semester of enrollment. For additional criteria please contact ASK HR.

Payment Plan

St. Luke's College offers a payment plan for tuition, fees, and other authorized charges less financial aid and scholarships credited to the student's account. The payment plan allows a student to make payments in installments. There is a non-refundable processing fee.
 

Alternative Loan Programs

Not Based on Financial Need
There are many Alternative Loan programs available to help cover the cost of education; however, it is suggested you exhaust all of your other options including St. Luke's College payment plan, savings, summer work, work study and outside scholarships before you borrow any type of alternative loan. Loan eligibility is based on the borrower's/co-borrower's creditworthiness and cost of attendance minus financial aid. Interest rates and fees vary by program. It is the student and family's responsibility to research each loan program to determine the one that best fits the student's needs. Some things to keep in mind when researching are: interest rates, fees, co-signer requirements, and repayment terms. Additional paperwork is required.