Financial aid is any grant, scholarship, loan, or paid employment offered for the express purpose of helping a student meet educationally related expenses. Various programs are available to Marymount graduate students to help finance their studies.
Types of Aid
Graduate Assistantships
A limited number of full-time and part-time graduate assistantship positions are available for graduate students at Marymount University. A full-time graduate assistantship requires 20 hours of work per week in exchange for a waiver of tuition for nine (9) credits per semester. Part-time assistantships may be either a 1/3 assistantship which requires seven (7) hours of work each week in exchange for a waiver of three (3) credits of tuition; or a 2/3 assistantship which requires fourteen (14) hours of work each week in exchange for a waiver of six (6) credits of tuition. Students must be enrolled for at least six (6) credits to qualify to be considered for a part-time assistantship. Those enrolled full-time are given preference for all assistantships. Students on 'flat-rate' tuition receive a waiver of equivalent to the three, six, or nine (3, 6, or 9) credits of the 1/3, 2/3 or full assistantship, respectively.
The graduate assistant program is designed to meet several purposes. Students receives financial support for their graduate studies. In addition, students benefit through a valuable professional experience that supplements and supports their program of study. The university also benefits, as it gains the services of a talented beginning professional, and offers a means for attracting and retaining highly talented students in its graduate programs.
A list of graduate assistant positions is available from the Office of the Associate Dean of Graduate and Professional Studies. Current openings, and procedures to apply for graduate assistantships, are listed on www.marymountjobs.com from the Office of Human Resource Services.
Grants
The Virginia Tuition Assistance Grant (TAG) Program
This grant is available to Virginia residents who are full-time students pursuing their first graduate degree in the field of health professions only. Eligible programs include counseling, health care management, health education and promotion, nursing, and physical therapy. The amount of the grant varies each academic year based on state funding. Applications, which are available from the Office of Financial Aid, must be submitted annually by July 31. Late applications will be considered if funds are available. There is no requirement for repayment. This program is funded by the Commonwealth of Virginia.
Marymount participates in the Yellow Ribbon Program, part of the post-9/11 GI bill which provides grants of $2,000 per year to eligible veterans pursuing undergraduate or graduate degrees. The U.S. Department of Veterans Affairs (VA) matches this amount with another $2,000. Eligibility requirements are available through the VA or Marymount’s Office of Student Affairs.
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:
- Complete a Free Application for Federal Student Aid (FAFSA), available at www.fafsa.ed.gov. The FAFSA must be completed by both new and currently enrolled graduate students 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.
- 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.
Scholarships
Marymount has a number of need-based and merit scholarships funded by generous donors to the university. Students deserving consideration for such scholarships are typically identified by a school or department within the university. Such students are provided with criteria for the awarding of the scholarship as well as procedural information to apply for the award. Contact the Office of Graduate Enrollment Services for further information about scholarships.
Student Employment
The university employs a large number of full-time students and pays them from its own resources. Students apply for jobs through the Center for Career Services.
Gainful Employment Programs
New federal regulations require colleges to inform students of their prospects for "gainful employment" when receiving federal financial aid for nondegree programs. The disclosures were mandated to assist students in choosing the right program for their needs and to prevent them from taking on debt for programs with subpar professional placement rates. Prospective students will find Gainful Employment Disclosures for each certificate program on the appropriate school’s website. Title IV federal financial aid is not available for certain nondegree programs but private and institutional aid may be available. All degree programs are exempted from the Gainful Employment Disclosure mandate.
Withdrawals
Students who withdraw from the University before the 60% point of the semester will have their federal financial aid prorated according to the federal formula. In addition, students failing to earn at least one passing grade in a semester will have their federal financial aid prorated and returned.
Satisfactory Academic Progress
Students are required to meet minimum standards of academic progress in order to continue to receive financial aid. The details are explained on the reverse side of the financial aid award letter and on the Office of Financial Aid web page.
Federal Financial Aid for Degree Applicable Courses
Federal regulations mandate that federal aid cannot be awarded for classes that do not count toward a student's academic program. If a student is enrolled in courses that do not count toward his or her degree, certificate, or other credentials, they cannot be used to determine enrollment status unless they are eligible remedial courses. It is the student’s responsibility to work with their advisor to ensure their credits meet this requirement.
Repeating Courses
Students should be aware that, for federal financial aid purposes, they may only receive federal financial aid toward one retake of a previously passed course or its equivalent. This means that once a student has passed a particular course, the Office of Financial Aid can count that student as being enrolled in that course only one more time for federal aid purposes.