Loans

The Federal Direct Unsubsidized Loan is for graduate students enrolled in a degree program on at least a half-time basis (six credits per semester); it enables them to borrow an annual amount. The repayment period begins six months after the student leaves school. The student is responsible for the interest while in school. The Office of Financial Aid provides information on obtaining the loan with Award Letter notification. Students must complete the financial aid application process by filing a Free Application for Federal Student Aid (FAFSA) in order to qualify.

Application Procedure: Students seeking financial aid through the Federal Direct Unsubsidized Loan program should follow these steps to apply:

1. Complete a FAFSA, available at www.fafsa.ed.gov. Both new and currently enrolled graduate students must complete a FAFSA for each year they seek financial aid. The information is analyzed and a report sent to the university on the estimated contribution expected from the family or the self-supporting student. Marymount’s federal school code is 003724.
2. Financial aid applications must be submitted by March 1 for each academic year in which financial assistance is required.

Awards are offered when applications are complete and the student has been accepted for enrollment into a degree program.