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Federal Aid Programs


Mount St. Mary's University participates in all of the financial aid programs offered by the U.S. Department of Education: Federal Pell Grants, Federal Supplemental Educational Opportunity Grants, Federal Work Study, Federal Perkins Loans and the Federal Direct Loan Program.

Eligibility for all federal programs is determined from the FAFSA. For more information about federal aid programs, refer to the Federal Student Aid Guide (Spanish edition). For information on how to apply for financial aid, visit the how to apply section of our website.


Please click the following links to explore your student type to learn what types of aid you may be eligible to receive:


Undergraduate Students

Grants

Federal Pell Grants
This program provides students with extremely high need with grants of up to $5,730 per year. Application may be made by completing the FAFSA.

Supplemental Educational Opportunity Grants
Designed to assist students who demonstrate high need and are eligible for Pell Grants, these grants typically range from $500 to $1,500 per year.

State Grants
Some students may be eligible for Maryland state funding. Please check the Maryland Higher Education's website for information regarding programs and applications. Make sure your FAFSA form is filed by March 1st every year to be considered for state aid.

Work Study

Federal Work Study
Students selected for this program are employed in a wide variety of on-campus jobs. On average, students work 5 to 10 hours per week and earn up to $2,030 per year.

Other College Employment
College employment other than the federal work study program is available. Contact the Mount's Human Resources department for more information.

Loans

Federal Perkins Loans
This program enables selected students to borrow money interest free while they are enrolled in college. Loans, which are $1,500 per year, are repayable after graduation or termination of studies, at a 5% interest rate.

Federal Direct Student Loans
Eligible undergraduate students may borrow up to $3,500 for the first year of study, up to $4,500 for the second year, and up to $5,500 for each remaining year. During periods of enrollment, interest payments are subsidized by the government. After graduation or termination of studies, and following a six-month grace period, students repay their loans at a 4.66% interest rate.

Federal Unsubsidized Direct Student Loans
Students who are not eligible or only partially eligible for a subsidized Direct Loan may borrow funds via this program at annual limits and interest rates equivalent to those of the subsidized program. Students will be responsible for interest charges during periods of enrollment. In addition, all students may borrow up to $2,000 each year, and independent students may borrow up to $4,000 for each of the first two years of undergraduate work and up to $5,000 for each remaining year.

Federal Parent Loans for Undergraduate Students (PLUS)
This program enables parents of dependent students to borrow the entire annual cost of attendance less financial aid awarded. The loans are repayable at an 7.21% interest rate. Parents must log onto www.studentloans.gov to apply.

ROTC

ROTC Scholarships
Mount students receive scholarships from the Army ROTC program to cover full tuition and are eligible for additional aid from the university. ROTC scholarships are awarded through the Army Cadet Command which allocates funds nationwide, so it is important for applicants to apply as early as possible. To apply, visit the U.S. Army website. Contact the Mount ROTC department at (301) 447-5350 for additional information on these scholarships.

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Continuing Studies Students

To qualify for financial aid, you must be enrolled on at least a half-time basis (at least six (6) credits per semester). Most financial aid will be in the form of deferred student loans though some students may be eligible for federal and state grants. Students who are taking classes at another institution must seek approval from their Mount advisor and complete a Consortium Agreement to use aid for those courses. Explore the links below to see what aid you may be eligible to receive.

Grants

Federal Pell Grants
This program provides students with extremely high need with grants of up to $5,730 per year. Application may be made by completing the FAFSA.

State Grants
Some students may be eligible for Maryland state funding. Please check the Maryland Higher Education's website for information regarding programs and applications. Make sure your FAFSA form is filed by March 1st every year to be considered for state aid.

Loans

Federal Direct Student Loans
Eligible undergraduate students may borrow up to $3,500 for the first year of study, up to $4,500 for the second year, and up to $5,500 for each remaining year. During periods of enrollment, interest payments are subsidized by the government. After graduation or termination of studies, and following a six-month grace period, students repay their loans at a 4.66% interest rate.

Federal Unsubsidized Direct Student Loans
Students who are not eligible or only partially eligible for a subsidized Direct Loan may borrow funds via this program at annual limits and interest rates equivalent to those of the subsidized program. Students will be responsible for interest charges during periods of enrollment. In addition, all students may borrow up to $2,000 each year, and independent students may borrow up to $4,000 for each of the first two years of undergraduate work and up to $5,000 for each remaining year.

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Graduate Students

To qualify for financial aid, you must be enrolled on at least a half-time basis (at least three (3) credits per semester). Most financial aid will be in the form of deferred student loans though some students may be eligible for state grants. Students who are taking classes at another institution must seek approval from their Mount advisor and complete a Consortium Agreement to use aid for those courses. Explore the links below to see what aid you may be eligible to receive.

Grants

State Grants
Some students may be eligible for Maryland state funding in the form of legislative scholarships. Please check the Maryland Higher Education's website for information regarding programs and applications. Make sure your FAFSA form is filed by March 1st every year to be considered for state aid.

Loans

Federal Direct Unsubsidized Loan
Graduate students may borrow up to $20,500 each academic year in this federal program. Students will be responsible for interest charges during periods of enrollment. The interest rate is currently set at 6.21%.

Federal Graduate PLUS Loan
This program enables graduate students to borrow up to their cost of attendance less their unsubsidized direct loans. Students must first take full advantage of their Unsubsidized Direct Loan eligibility (see above) before applying for the Graduate PLUS Loan. The loans are repayable at an 7.21% interest rate. Interested students must log onto www.studentloans.gov to apply.

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16300 Old Emmitsburg Road | Emmitsburg, MD 21727
Map & Directions | admissions@msmary.edu | 301-447-6122
Frederick Campus | 5350 Spectrum Drive | Frederick, MD 21703
Map & Directions | inquiry@msmary.edu | 301-682-8315