Types of Aid
Financial aid includes grants and scholarships you don’t have to pay back, unlike loans that must be repaid, and federal work-study funds that allow you to earn a paycheck while attending college.
Financial need, cost of attendance, year in school, enrollment status and expected family contribution are all factors in determining the amount of aid you receive.
Although international students are not eligible to receive most types of federal financial aid, they may be eligible for scholarships and private loans.
A grant is a financial aid award that does not need to be repaid. It is based on financial need as determined by the Free Application for Federal Student Aid (FAFSA).
The Pell Grant is need-based undergraduate aid based on financial information indicated on the FAFSA, with a maximum award of $6,195 for the 2019-2020 academic year. Funds may be used for tuition, fees, books, room, board or other educational expenses.
The Federal Supplemental Educational Opportunity Grant (FSEOG) is awarded to students with exceptional financial need. You can receive between $100 and $4,000 a year, depending on your financial need, when you apply, the amount of other aid you get, and the availability of funds.
The California Student Aid Commission awards Cal Grants to eligible California residents.
Cal Grant A applies to undergraduate students who meet eligibility requirements, including a minimum 3.0 GPA. MCU students can receive up to $9,084 per academic year, which can be used for tuition and fees.
Cal Grant B applies to undergraduate students who meet eligibility requirements including a 2.0 GPA. First-year students receive a living stipend of $1,672 and in subsequent years receive both the living allowance and tuition award up to $9,084 per academic year.
The Chafee Grant for Foster Youth provides up to $5,000 a year to current or former foster youth who meet eligibility requirements.
We automatically consider students for two Marymount award opportunities when you apply for admission. However, to be considered for our endowed scholarships, you must submit a separate application.
Marymount offers a merit scholarship to recognize and reward the academic achievements of entering freshmen. No special application is required for this scholarship. All applicants for admission, including international students, are automatically considered. Selection is based on GPA and standardized test results. The scholarship may be awarded for up to four years to first-year students, provided they maintain full-time status, a cumulative GPA of 2.0 or above and satisfactory academic progress.
Marymount offers a grant based on financial need as demonstrated on the FAFSA. All applicants for admission are automatically considered if they have completed the FAFSA. The grant is renewable if students maintain full-time status with a cumulative GPA of 2.0 or above and satisfactory academic progress.
Undergraduate students can apply for our endowed scholarships made possible by generous donors. These scholarships are available on a yearly basis to domestic students who maintain full-time status with a cumulative GPA of 3.0 or above and satisfactory academic progress. Applicants must also have submitted the FAFSA. The deadline to apply is June 30.
The MCU Athletics Department offers a range of scholarships to eligible student athletes. The Financial Aid Office will work with Athletics to ensure scholarships are coordinated with federal, state and other university-funded sources of financial aid you may be eligible to receive. Student athletes must meet all MCU and National Association of Intercollegiate Athletics (NAIA) eligibility requirements to receive an athletic scholarship.
We encourage you to also explore the many scholarships offered by organizations, including federal and state governments and private sources, such as employers, individuals, companies, high schools and colleges, religious groups and professional associations. In addition to the opportunities listed here, check out the free scholarship search engine tools listed below to find even more scholarships suited to your specific qualifications and interests.
|The Mason Finance Life Settlement Awareness Scholarship||September 15, 2019|
|Academic Hero Scholarship||September 31, 2019|
|Straver Personal Injury Scholarship||December 1, 2019|
|Students Affected by Cancer Scholarship||December 31, 2019|
|Intoxalock Drunk Driving Prevention Scholarship||December 31, 2019|
|KNR’s Stop Distracted Driving Scholarship||March 31, 2020|
|Worgul, Sama & Ness Criminal Defense Attorneys Scholarship||May 31, 2020|
Free online scholarship search engines
Big Future (College Board)
The College Board’s Big Future database contains listings of scholarships, internships and other financial aid programs from 2,200 programs, totaling nearly $6 billion.
Cappex offers the most current and complete profiles of every college in the United States and a multi-billion dollar scholarship database.
College Resource Network
A free scholarship search engine and college planning website.
The site offers a wide range of college funding opportunities without having to complete long forms of personal information before accessing the resources.
Fastweb matches students with relevant scholarship opportunities from a database of around 1.5 million scholarships worth more than $3.4 billion, in addition to other educational and financial aid resources.
Federal Student Aid
Detailed information on preparing for college and the financial aid process, including U.S. government–sponsored scholarships, grants and loans. Home of the Free Application for Federal Student Aid (FAFSA) form.
GoodCall integrates data and technology to make finding scholarships easier. Students can view thousands of scholarships, filter results by specific requirements, and even search by competition level and entry difficulty.
IIE Generation Study Abroad Travel Grants
Institute of International Education offers grants to U.S. students from a broad range of backgrounds to help them to participate in academic, internship or service-learning experiences abroad.
International Scholarships provides financial aid, scholarships and grant information for students who want to study abroad.
Peterson’s scholarship search tool reaches super hero status with its ability to filter available scholarships by school type, ethnicity, gender, field of study, state of residence, award type and more.
Sallie Mae’s free scholarship search tool offers access to an award-winning database containing information about 5 million scholarships worth $24 billion.
The scholarship search tool offers more than 3.7 million scholarships and expert advice on financial aid. Among the most widely used and trusted financial aid information resources available, the site has been around for nearly two decades.
The site specializes in providing scholarship information for women and high school seniors.
Student Scholarship Search
A platform for students to search for scholarships by grade, GPA, state, gender and ethnic background.
Unigo, a college resource “built for the age of YouTube and Facebook,” offers advice, reviews and more than $14 billion worth of scholarships, awards and grants.
MCU is proud to assist veterans and their dependents in collaboration with the U.S. Department of Veteran Affairs by participating in the Yellow Ribbon Program.
The Post-9/11 GI Bill® provides education benefits for service members who have served on active duty for 90 days or more since September 11, 2001, honorably discharged veterans and individuals who were discharged with a service-connected disability after 30 days. The maximum tuition and fee reimbursement for the 2019-20 school year is $24,476.79.
The Yellow Ribbon Program can help students pay for higher out-of state, private or graduate school tuition not covered by the GI Bill. The program is an agreement between universities and the Department of Veterans Affairs to provide the extra funds former service members need for college.
As a participating Yellow Ribbon school, Marymount will cover eligible students’ tuition and fees that exceed the Post-9/11 GI Bill reimbursement. To qualify, students must be at the 100 percent benefit level of the Post-9/11 GI Bill.
If a student qualifies for the Yellow Ribbon Program, any institutional aid awarded (such as a Marymount scholarship or grant) will be forfeited.
Loans are a form of financial aid that must be repaid, usually with interest, after you graduate from Marymount, or if you drop below half-time enrollment. Loans can come from federal or private lenders. The amount of money you can borrow depends on several factors, including your year in school. We advise you not to take on more debt than you can handle. Borrow only what you need.
Direct Subsidized Loans
These loans are available to undergraduate students with financial need. The U.S. Department of Education pays the interest while you’re in school at least half-time, as well as, for the first six months after you leave school (referred to as a grace period) and during a period of deferment (a postponement of loan payments)..
Direct Unsubsidized Loans
These loans are available to both undergraduate and graduate students, but eligibility is not based on financial need. You are responsible for paying the interest during all periods. If you choose not to pay the interest while in school and during grace periods/deferment/forbearance periods, the interest will accrue (accumulate) and be added to the principal amount of your loan.
Direct PLUS Loan
A direct PLUS loan is commonly referred to as a parent PLUS loan when made to a parent and as a graduate PLUS loan when made to a graduate student. Eligibility is not based on financial need, but a credit check is required. Visit www.studentloans.gov to apply.
How to apply
To apply for a federal student loan, you must first complete and submit the Free Application for Federal Student Aid (FAFSA) form. Based on the results, MCU will send you a financial aid offer with instructions on how to accept all or a part of the loan, if you qualify. Before you receive your loan funds, you will be required to:
- Accept your loans thru the portal.
- Complete entrance counseling to ensure you understand your obligation to repay the loan.
- Sign a master promissory note agreeing to the terms of the loan.
For a direct PLUS loan, parents must apply at www.studentloans.gov and sign a master promissory note once approved. Graduate students must also apply at www.studentloans.gov, sign a master promissory note and complete entrance counseling.
Banks, credit unions and other financial institutions offer private loans (also known as alternative loans) to help fill the gap between the cost of education and the amount of other financial aid offered. However, it’s best to always maximize all other resources first, including federal loans, which may have lower interest rates and better loan terms.
Federal regulations require most private educational loan borrowers to complete a self-certification form prior to the loan being finalized. The self-certification form is intended to promote “informed borrowing” by educating borrowers about financial aid availability and encouraging them to seek advice from the financial aid office about other forms of aid before taking out a private education loan.
The Truth in Lending Act permits a three business day “right to cancel” period, beginning after you receive your final loan disclosure from your lender. Lenders cannot release your first loan disbursement until after this time has passed. This waiting period applies to most private education loans. We encourage students who are applying for a private education loan to do so several weeks in advance to ensure funds are received to pay your education bills by their due dates.
Visit FastChoice to explore private student loan options and compare their rates and terms.
The inclusion of a loan or lender on this site does not imply endorsement. MCU does not endorse any loans or lenders. Information is provided by the lender and is subject to change. MCU is not responsible for the content lenders provide or the content of lender websites.
Work study is a need-based form of financial aid that you earn through employment at Marymount and receive in the form of a paycheck. The program is designed to encourage part-time employment and reduce the amount of loan debt incurred while attending college. Work study pays a portion of your salary, making it more advantageous for an employer to hire you. Eligibility is determined by FAFSA and the availability of funds.