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Transfer Student Financial Aid

Merit Scholarships

All accepted transfer candidates are considered for both merit-based scholarships and need-based financial aid. The following are descriptions of the attributes of transfer academic scholarship recipients. Once a student is accepted and offered an academic scholarship, no changes will be made to increase the amount.

Transfer Scholarship ($18,000 per year)

Awarded to incoming full-time transfer students who demonstrate the highest academic achievement and leadership in college and have a 3.5 cumulative GPA or better.

Transfer Scholarship ($15,000 per year)

Awarded to incoming full-time transfer students who have demonstrated strong academic achievement in college and have between a 3.0-3.5 cumulative GPA.

Transfer Scholarship ($13,000 per year)

Awarded to incoming full-time transfer students who have demonstrated academic achievement in college and have between a 2.7-3.0 cumulative GPA.

Transfer Scholarship ($9,000 per year)

Awarded to incoming full-time transfer students who have demonstrated academic achievement in college and have between a 2.5-2.7 cumulative GPA.

Phi Theta Kappa Scholarship ($3,500 per year)

Awarded to incoming full-time transfer students who are Phi Theta Kappa members. The PTK Scholarship may be awarded in addition to the above-mentioned scholarships.

Types of Financial Aid

Once you've been accepted and received your initial Merit Scholarships from the Mount, you will have many options to help with paying for college.  We offer additional university scholarships to students who qualify regardless of need, and then we also offer need-based financial aid.  To be considered for need-based financial aid you will need to complete the Free Application for Federal Student Aid (FAFSA)

Hours: Mon. - Fri.: 8:30 a.m. to 5 p.m.  
Phone number:  301-447-5207
Email: finaid@msmary.edu

University Scholarships

Legacy Grant

This award is given through the Admissions Office of the University. Incoming freshmen or transfer students who had a relative graduate from the Mount will be awarded $1,000 per year, which can be renewed for up to four years. Legacy Grants are awarded to students who indicate their status on the admissions application. Financial need is not considered.

Family Discount

Each incoming student with a brother or sister enrolled at the Mount will receive a $2,000 Family Discount Grant. This grant is renewable as long as the siblings are concurrently enrolled. Financial need is not considered.

Athletic Scholarships

Mount St. Mary's University competes at the NCAA Division I level in all of its men's and women's sports. All varsity teams offer athletic scholarships. Contact the Athletic Director or head coaches at (301) 447-5296 for additional information on these scholarships. See the athletic department directory.

ROTC Scholarships

Mount students receive full tuition scholarships plus a monthly stipend from the Army ROTC program. Recipients are able to combine their ROTC scholarship with other Mount scholarships. Scholarships may be for two to four years. Contact the Mount ROTC department at (301) 447-5350 or visit the ROTC webpage for additional information on these scholarships.

We may be able to help - we have a running list of outside scholarships that you may qualify for.

Learn More

Need Based Financial Aid

All students are considered for merit-based scholarships as part of the admissions application. These scholarships are awarded without any regard to financial need. Students looking to apply for additional need-based financial aid must file the FAFSA. In addition to University funded grants, other types of need-based financial aid include federal grants, loans and work study as well as state grants for Maryland residents.

FAFSA Details

For the 2019-2020 academic year, the FAFSA becomes available in October, 2018. Because the income requested on the application is from 2017, all families should be in a position to file the FAFSA once it becomes available.

First Time Applicants

If you are a first time aid applicant, you and one of your parents must apply for and receive an FSA ID. It typically takes 2 - 3 days to receive the ID, which serves as an electronic signature. To apply for your FSA ID, go to www.fafsa.ed.gov and click on the icon at the top of the page that says FSA ID. You will need two FSA ID numbers--one for you and one for a parent.

Deadlines 

December 1

Early Action Applicants – Students who are accepted through the Admissions Office Early Action Program and file a FAFSA by December 1 will receive their financial aid award letter by mid-January, pending any additional information requests required by the Financial Aid Office.

March 1

All other students must submit their FAFSA prior to March 1. Students will receive their financial aid award letter via mail usually within two weeks of submitting their FAFSA.

Additional Information

Mount St. Mary's Title IV School Code is 002086.

Within 48-72 hours after submitting the FAFSA, the student will be notified that the FAFSA has been processed and sent to each school. If there is a problem with the application that prevents it from being processed, the student will be notified as well. Please be on the lookout for this confirmation.

Upon submitting your FAFSA, if you have special circumstances you wish to call to the attention of the Financial Aid Office, go to our forms page and file the appropriate appeals form. Complete this form and return it to the Financial Aid Office.

Mount St. Mary’s will begin to notify students of their financial aid awards in mid-January and will continue to process award letters throughout the spring semester.

Early Action deadline: Dec. 1
FAFSA deadline: March 1
MSMU school code: 002086

Mount Grants

Grant-in-Aid

Students who have remaining financial need after their merit-based aid is awarded are candidates for the Grant-in-Aid. The Grant-in-Aid is renewable provided the student files the FAFSA and demonstrates similar need in future years.

Commuter Grants

Up to 50% of tuition is awarded based on financial need to students who live at home and commute to the Mount. When combined with an academic scholarships, total money from the Mount cannot exceed 50% of tuition. (The grant is not available for summer school.)

Federal / State Financial Aid

Federal Pell Grants

Awarded by the federal government to students who demonstrate extremely high need through the FAFSA. Because it is awarded by the government, your Pell eligibility should be the same at each college/university. For more information, click here.

Supplemental Educational Opportunity Grants

Awarded by the Mount’s financial aid office to students who qualify for significant Pell Grants. Fore more information, click here.

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.

Federal Direct Student Loans

Eligible dependent students may borrow up to $5,500 for the first year of study, up to $6,500 for the second year, and up to $7,500 for each remaining year. The financial aid office will determine if the student is eligible to receive a subsidized loan whereby the government would pay the interest while the student remains in school. Independent students are eligible to borrow additional unsubsidized funds between $4,000-$5,000 per year depending on their class standing. Fore more information, click here.

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 parent must not have an adverse credit history. If a parent is not able to obtain a PLUS Loan, the student is eligible to borrow additional unsubsidized funds between $4,000-$5,000 per year depending on the student’s class standing. Fore more information, click here.

Frequently Asked Questions (FAQs)

What are the eligibility requirements to receive scholarships and grants from Mount St. Mary’s University?

To receive Mount St. Mary's University grants, scholarships, and other awards, a student must:
  1. Enroll Full-time (at least 12 credits)
  2. Be accepted into a degree program of study
  3. Be seeking a first Bachelor's Degree
  4. Be making satisfactory academic progress according to the University's requirements for each program

What are the eligibility requirements to receive federal and state financial aid?

To receive Title IV federal grants, loans and work study as well as state financial aid, a student must:
  1. Enroll at least part-time (at least 6 credits)
  2. Be a United States citizen or eligible non-citizen
  3. Be accepted into a degree program
  4. Be seeking a first Bachelor's Degree
  5. Not be in default on any previous loan or owe a refund on any previous grant
  6. Be making satisfactory academic progress according to the University's requirements
  7. Not be convicted for possession of sale of drug (federal programs only)

What is the Mount’s Title IV code?

The Title IV code to use on the FAFSA is 002086.

When is the Mount’s financial aid deadline?

The FAFSA deadline is March 1st. Applications received after the deadline will be considered for need-based funds on an available basis.

When will financial aid decisions be made?

The financial aid office will begin to mail award letters to incoming students in mid-January.  Early preference will be given to students accepted through Early Action and whose FAFSA was received by December 1st.

Do I need to complete a FAFSA form every year?

You do need to reapply for aid each year by completing a FAFSA form. It becomes available each year after October 1st and should be filed prior to the March 1 deadline.

What is the IRS Data Retrieval Tool?

This tool allows data from your federal tax returns to be retrieved directly from the IRS's website in order to auto-fill the income section of your FAFSA form. This helps reduce errors and simplify the verification process.

My parents will not be claiming me as a dependent on their tax returns. Can I file my financial aid applications as an independent student?

Probably not if you are an undergraduate student. To determine if you meet the federal definition of an independent student, review the questions in Step Three of the FAFSA. If you believe your situation is unique and you should be considered independent, please contact with the Financial Aid Office.

I was awarded a scholarship from a private outside organization. Do I need to inform anyone?

Yes. Federal law stipulates that students may not receive federal support if their financial aid exceeds their demonstrated financial need.  Mount St. Mary’s participates in the Central Scholarship Partnership and will not reduce any scholarships or grants when financial need remains.  However, we still must confirm eligibility for federal need-based funds, including subsidized loans and work study. Total aid including outside resources cannot exceed your demonstrated financial need and cost of attendance.

If I change my residence status, will my financial aid be affected?

Your merit-based aid will not be affected, but your eligibility for need-based aid could be.  If there is a credit balance on your student account once tuition and fee charges have been paid, you may use this credit to pay for off-campus rent and food expenses. A refund of any credit balance on your student account is obtained directly from the Accounting & Finance Office.  Institutional financial aid cannot exceed institutional charges, so any refund must be generated by outside (federal, state or private) financial aid.

How can I get a work study job if I currently don't have one?

You should contact the Human Resources Office and ask to be put on a waiting list. Students who have remaining financial need are given priority on the list. Returning students must be on a re-hire list from the Human Resources Office to have work study included as part of their financial aid package.

How will dropping below full-time enrollment impact my financial aid award?

Most initial awards are based on expected full-time enrollment and the corresponding tuition charge, unless otherwise indicated. One of the requirements for any institutional academic scholarship is that you be enrolled full time. Furthermore, if you enroll less than full time, your cost of education will be recalculated using actual reduced tuition costs. Your family contribution will not be revised, as you are expected to contribute the same amount regardless of your enrollment status. Your eligibility for need-based aid will be reduced in proportion to the reduced tuition or other charges that result from less than full-time study.

What is the difference between the Financial Aid Office and the Accounting & Finance Office?

The two offices have separate administrative functions. The Financial Aid Office, located on the first floor of Bradley Hall, determines eligibility for grants, loans and work study. Located on the third floor of Bradley, the Accounting & Finance Office is responsible for billing and collecting payments from students for university charges.

When will I know how much I owe for next year?

The Accounting & Finance Office will send fall semester statements in early June. You can estimate the amount you'll have to pay once you receive your financial aid package. Subtract your total aid from the listed tuition, room and board charges and divide by two to calculate what you'll owe for the fall semester.

When do I start to apply for student loans?

The financial aid office will mail instructions for applying for student and parent loans in April. Information can also be found by clicking here.

I received an email from Maryland Higher Education Commission regarding a state award that I received, is this legitimate?

Yes, Maryland residents who complete a FAFSA prior to March 1st are considered for need based awards from the state of Maryland.  Please do not ignore these communications.  You will be asked to create an account in the states portal (MDCAPS) to review and accept these awards.  In addition, you may be required to provide documentation to the state to confirm your eligibility.

Do I need to complete the verification documents mailed to me even though I already put the information on my FAFSA?

Yes, the Department of Education randomly selects student FAFSA’s for verification.  As such, the school is required to collect various documents including a verification worksheet and tax information to verify that the FAFSA is correct.  This is a Federal requirement.