How Do I Pay for Graduate School?
Financial Aid Process • Payment Plans
Payment Options
The Mount has a variety of employer tuition remission or reimbursement agreements with local school systems, businesses and community colleges, so you may be eligible for a discount from your employer or previous college.
Students enrolled on at least a half-time basis (6-credits per semester) may qualify for financial aid. You may seek financial assistance through federal and state-funded programs, private loan providers, or deferment of undergraduate loans.
Contact Financial Aid
Hours: Mon.-Fri.: 8:30 a.m.-5 p.m.
Phone: 301-447-5207
Email: financialaid@msmary.edu
Financial Aid Process
Applying for Financial Aid
Students interested in receiving financial aid need to plan accordingly. Because enrollment status is critical to this process, students should map their coursework on at least a semester basis. This means pre-registering for all courses they intend to take in the semester’s modules. Complete all steps below to apply for financial aid.
This form can be completed at www.fafsa.gov. First-time applicants must register for an FSA ID before submitting the FAFSA. It typically takes two to three days to receive the ID, which serves as an electronic signature. To apply for your FSA ID, go to www.fafsa.gov and click on the icon at the top of the page that says FSA ID. The Mount’s Title IV School Code is 002086.
Please understand that this form must be sent to the Federal Processing Center first and takes three to four days to be processed. The FAFSA needs to be completed each academic year (July 1 through June 30).
Financial Aid Award Notification
Once the financial aid office receives your FAFSA and has been notified that you are enrolled at least half-time for a semester, we will email you with instructions on how to view your aid eligibility for the semester. Typically, fall semester award notifications will start to be emailed in mid-July. Spring semester notifications will be sent starting in November, and summer notifications in April. The email will be sent to your MSM email account with instructions on how to view Net Partner, the Mount’s financial aid portal.
Complete the Direct Loan Master Promissory Note and Online Entrance Counseling
First-time borrowers must complete a Direct Loan Master Promissory Note and Direct Loan Entrance Counseling. The FSA ID used for the FAFSA is required to complete this step. Both of these steps must be completed online.
Accept your awards in Net Partner
Upon receipt of the Financial Aid Award Notification from the Financial Aid Office, log into Net Partner and accept, reduce, or decline your awards.
Verification
Students selected for federal verification will be required to submit appropriate paperwork to the Financial Aid Office. Federal aid cannot be processed until the verification process has been completed.
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.
Students Receiving Financial Aid
Disbursements and Refunds
In addition to your financial aid eligibility, Net Partner also provides estimated disbursement dates for your federal aid. This is the anticipated date that your loans and grants will be transferred to your tuition account. Any excess financial aid will be refunded to you by the Accounting and Finance Office within the next 14 business days after the disbursement date.
Consortium Agreements
Students who wish to receive aid for courses they are concurrently taking at another institution, or who need to use outside credits to maintain their enrollment status for student loan deferment, must seek prior approval for the courses from their Mount advisor. Upon receiving such approval, the student should then initiate the process by downloading the Consortium Agreement (.pdf). Federal regulations prohibit a student from receiving financial aid from more than one institution at a time.
To be eligible to borrow funds under the Federal Direct Loan Program, you must:
- File the Free Application for Federal Student Aid (FAFSA)
- Be a U.S. Citizen or permanent resident
- Not be in default on prior educational loans
- Maintain satisfactory academic progress
Questions? Call the Financial Aid Office at 301-447-5207 or financialaid@msmary.edu.
Tuition Discount for Active-Duty Military
The Division of Continuing Studies, including Graduate and Accelerated/Adult Undergraduate programs, provides a discounted tuition rate for all active-duty military personnel, including those students using DOD Tuition Assistance (TA), of $250/credit. Appropriate documentation is required each semester. To be eligible for the reduced military tuition rate, you need to submit the following documentation:
- Proof of service statement or letter: Provide a copy of a statement or letter that verifies your current service status in the military. This document should clearly indicate your active duty or reserve status.
- For those using DOD Tuition Assistance, servicemembers (including Guard and Reserve) must contact their Education Service Officer (ESO) or Education Counselor within their branch of service prior to enrolling in any courses at Mount St. Mary’s University.
Questions? Call the Financial Aid Office at 301-447-5207 or financialaid@msmary.edu
Enrolling in a Pay-As-You-Go Payment Plan
Payment for graduate courses is due by the end of the first week of each sub-term enrolled. Payments can be made through MyMount or by mailing a check to: 16300 Old Emmitsburg Road, Emmitsburg, MD 21727, Attention: Accounting and Finance Department.
Online Credit Card/ACH: Students may pay online on MyMount http://mymount.msmary.edu under the Account Balance tab. Credit card payments incur a 2.85% transaction fee. E-Check payments incur a $0.25 service fee.
Employer payment: If your employer will be paying your tuition, please submit, by the end of the first week of class, a letter on company letterhead stating the course and amount the employer will be paying to acctsrec@msmary.edu or fax it to (301) 447-5867.
Military and nonmilitary purchase orders and other third-party billing is arranged by calling the Accounting and Finance Office at 301-447-5353. The online FERPA release form for third party billing can be found on MyMount http://mymount.msmary.edu/ICS/Forms/ on the Student Forms tab.
Graduate students may defer payment until 55 days after the class ends by paying a $40 deferment fee per sub-term. To request deferred payment, please email acctsrec@msmary.edu. If a student account is in arrears for two sub-terms, a registration hold may be placed on the account until it is brought current.
If you need assistance, please contact the Accounting & Finance Office at 301-447- 5353 or acctsrec@msmary.edu.
The Federal (Title One) Teacher Loan Forgiveness Program
If you and your school qualify, this program may provide loan forgiveness for eligible Federal Direct Loans. This is a separate program requiring separate forms and processes. The U.S. Department of Education will determine your eligibility for this program. Mount St. Mary’s is not responsible to verify your eligibility for this program. Please do not base your enrollment on this program, as it can be difficult to ensure qualification for government programs which are subject to reform and funding changes.
You must call 1-800-4-FED-AID to verify your eligibility or visit https://studentaid.gov/sa/repay-loans/forgiveness-cancellation/teacher for more information.
The TEACH Grant
The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program, created by Congress through the College Cost Reduction and Access Act of 2007, provides grants to students (Undergraduates or Graduate) who intend to teach in a public or private elementary or secondary school that serves students from low-income families and teaching in a high need field. If a student fails to complete the teaching requirement, the grant will convert into an Unsubsidized Direct Stafford Loan.
For more information, visit https://studentaid.gov/teach-grant-program.