1. Satisfactory Academic Progress for Financial Aid
2. Withdrawal and Refund of Financial Aid
3. Stafford Loans
4. Veterans Benefits
5. Non-Payment
6. Graduate Assistantships

Satisfactory Academic Progress for Financial Aid
Stafford Loans

Students receiving federal financial aid must make satisfactory academic progress towards completion of a certificate or degree if their aid is to be processed or continued. The general rule is
that students must complete with passing grades at least 75 percent of the credits they attempt. All courses ever attempted at the university are considered when calculating satisfactory progress, even though the student may not have received aid for prior courses. The rate is calculated by dividing
credits earned by credits attempted.

If, after completion of the second or subsequent semester of enrollment, a student receiving aid falls below the minimum rate of 75 percent satisfactory completion of courses, aid will be discontinued. Aid will be reinstated only after the student’s completion rate is 75 percent or above and the student requests reinstatement in writing.

Students who believe that unusual circumstances have caused their failure to make satisfactory progress may petition in writing the Financial Aid Committee, which will make a decision about
eligibility for additional aid.

The maximum period for which a student may receive any federal aid is 150% of the published
length of an academic program.
Withdrawal and Refund

Withdrawal and Refund of Financial Aid

Financial aid recipients who withdraw from all of their classes during a term will be subject to federal refund policies, which are different from the university’s refund policy. The amount of aid earned is determined by a pro rata calculation, multiplying the percentage of the academic term the student has completed by the total amount of federal aid disbursed to the student. If the academic term is more than 60 percent complete, the student has earned 100 percent of the aid.

Stafford Loans

1. Complete the Free Application for Federal Student Aid (FAFSA).

This form is available in the financial aid office, or it can be completed electronically at www.fafsa.ed.gov school code is 002086. Please understand that this form must be sent to a federal processing center and takes 3-4 weeks to be processed; thus it needs to be completed as soon as possible prior to the term. The FAFSA needs to be completed each academic year.

2. Complete the Stafford Loan Application.

First-time borrowers must complete a Master Promissory Note and a Stafford Loan Certification Form, both of which are available by calling the financial aid office at 301-447-5207. (Students who have borrowed previously in the federal loan program should contact their prior lender and request a loan application.) Completed applications should be sent to:

Financial Aid Office
Mount St. Mary’s University
16300 Old Emmitsburg Rd.
Emmitsburg, MD 21727

3. Once the Master Promissory Note is on file in the financial aid office, a student may request additional funds for any ensuing semester by submitting another Stafford Loan Certification Form. This form can be downloaded from the financial aid office’s website at www.msmary.edu/financialaid

4. Stafford Loan funds are disbursed directly to the University’s Office of Accounting and Finance in two equal installments (one at the beginning of the term and one at the term’s mid-point). If the funds create a credit on the student’s account, the Office of Accounting and Finance will issue a Mount St. Mary’s University check to the student for the amount of the overage. Students should not expect to receive the full refund until the loan has been fully disbursed at the term’s mid-point.

Veterans Benefits

Veterans who are eligible to receive education benefits should inform the university registrar, who serves as the veterans certifying official.

Registrar
Mount St. Mary’s University
16300 Old Emmitsburg Road
Emmitsburg, MD 21727-7796
Phone: 301-447-5215

Email: registrar@msmary.edu

Non-Payment

Students who are delinquent in paying their account will be removed from registered courses until such time as their account is settled. In such cases, students are at risk of losing a seat in class should enrollment reach capacity. It is the student’s responsibility to make sure his or her account is up-to-date and all financial obligations have been met. Upon non-payment, Mount St. Mary’s University may declare any remaining balance due and payable. In the event a student account is referred to an attorney for collection through legal proceedings or otherwise, the student will be responsible to pay reasonable collection costs and fees, attorney’s fees, court costs, and other related costs to Mount St. Mary’s University. Default interest shall accrue at the rate of one and one-half percent (1.5%) per month (18% APR) from the date of default until the date of payment, and shall be the rate of interest applicable in any judgement. A transcript release hold will be applied to the student record. Transcripts will not be released until the debt is paid in full.

Graduate Assistantships

A limited number of graduate assistantships are awarded annually. Graduate assistants normally work 15 hours per week throughout the year (June 1 to May 31) or 20 hours per week during the academic year (August to May) in addition to being students. In return for the aforementioned work, the student is compensated with a stipend and tuition remission for up to seven graduate courses per academic year.

Qualified graduate students with excellent academic credentials are encouraged to apply before April 1st. To be eligible for an assistantship, all admission criteria must be satisfied and the student must be accepted into the graduate program.

Graduate assistant positions are available in the College of Liberal Arts, Schools of Business, Education and Human Services, and Science and Mathematics as well as other offices on campus including the Office of Academic Affairs, Center for Professional and Continuing Studies, Institutional Research, Learning Services, Residence Life, and Dean of Students. Students should apply to the Vice President for Academic Affairs Office to be considered.