Graduate Student Financial Aid Facts

Tuition and fees are set annually at Mount Mary College.

In order to be eligible for financial aid, a graduate student must meet one of 3 criteria:

• A student must be accepted as a degree seeking student in a master’s or doctorate program, OR
• A student must be accepted to take approved prerequisites for admissions to a graduate program, OR
• A student must be in an approved sequence of study leading to a professional license or certificate.

Students must be enrolled at least half-time status (3 graduate credits) per semester to be eligible for financial aid. Students approved to complete prerequisites for admissions to a graduate program must enroll in at least 6 credits to be eligible for financial aid.

Students who wish to apply for financial aid must complete the Free Application for Federal Student Aid (FAFSA) each academic year. Apply online at www.fafsa.gov. Mount Mary College’s school code is 003869.

After completing the FAFSA, the student will be sent a Student Aid Report (SAR).This form is for the student’s records and indicates that Mount Mary College should have received the application information.

After all documents are received by the Financial Aid Office, the student will be sent an award letter indicating the amount of financial aid the student is eligible to receive.

Graduate students are eligible for student loans only. The maximum eligibility for a graduate student for a full academic year is $20,500, Federal Direct Unsubsidized Loan.  Actual award amounts are based on the student’s enrollment.

First time Federal Direct Loan borrowers must:

• Go online to studentloans.gov and receive Entrance Counseling.
• Go online to studentloans.gov and complete a Master Promissory Note (MPN).              

Because financial aid eligibility is based on a student’s actual enrollment, students should be sure to communicate any changes in their enrollment to the Financial Aid Office.