FINANCIAL AID APPLICATION PROCEDURES

Listed below are the recommended procedures to apply for financial aid at Mount St. Mary’s.Once the Mount's financial aid office receives all required documents, the aid will be processed. Aid cannot be disbursed to a student’s account until half-time status is achieved. In the accelerated format, this means two weeks into the student’s second course of the traditional semester. If at any time during this process questions or concerns arise, please contact the financial aid office at 301-447-5207.

1.Complete the Free Application for Federal Student Aid (FAFSA). This form can be completed at www.fafsa.ed.gov.  You must first apply for and receive an electronic PIN at www.pin.ed.gov. It typically takes 2-3 days to receive the PIN, which serves as an electronic signature. Students are strongly encouraged to complete the online form. However, if this is not possible, paper copies of the FAFSA are available in both the Continuing Studies office or through the financial aid office. The Mount’s Title IV school code is 002086. Please understand that this form must be sent to a federal processing center and can take up to two 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 Stafford Loan Application. First-time borrowers must complete a Master Promissory Note and a Stafford Loan Certification Form, both of which are available in the Continuing Studies office or 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.) Students may borrow up to their Cost of Attendance, not to exceed $7,500 a year for sophomores and $10,500 annually for juniors and seniors. Completed applications should be sent to the Mount's financial aid office. 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.

3. Sign and Return Financial Aid Award Letter. Upon receipt of the Financial Aid Award Letter from the financial aid office, sign and return one copy to the office. Students are reminded that any change in enrollment status or the addition of any outside aid may affect their eligibility for federal funds and prompt a Revised Award Letter to be sent.