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Financial Aid
UNDERGRADUATE FINANCIAL AID
Purposes of Student Financial Aid Programs The Marymount University program of financial aid attempts to help those students who have academic potential and limited financial resources. In addition, scholarships are awarded to students who demonstrate outstanding academic potential and performance, with financial need considered but not a prerequisite. The objective of all federal and most state aid programs is to provide opportunities for those who would not be able to complete their college education without financial assistance. Certain states, such as the Commonwealth of Virginia, award grants without regard to financial need to those students who apply and can prove state residence. Information and deadlines for applying for scholarships and aid are available from the University’s Financial Aid Office. Eligibility for Need- based Aid Financial aid is any grant, scholarship, loan, or paid employment offered for the express purpose of helping a student meet educationally related expenses. Determining how much financial aid a student will receive is calculated in the following manner: 1.The budget for a student’s academic year living and educational expenses is determined, taking into account factors such as residence, enrollment, and dependence. 2.The expected contribution by the student and family toward the student’s yearly expenses is determined through a federal formula. 3.The resources contributed by the student and family are subtracted from the budget, and the remaining amount is referred to as the student’s “financial need.” Financial Aid Application Procedure 1.New and currently enrolled undergraduate students must file a Free Application for Federal Student Aid (FAFSA). The information is analyzed and a report sent to the University on the estimated contribution expected from the family or the self-supporting student. 2.Awards are offered when applications are complete and the student has been accepted for enrollment into a degree program. 3.Financial aid applications must be submitted for each academic year in which financial assistance is required. DC Leveraging Educational Assistance Partnership (LEAP) Grant is a need-based program for undergraduates who meet DC residency requirements. Applicants must enroll at least half time in a degree program. Students must follow financial aid application procedures. The DCLEAP application must also be completed and submitted to the Financial Aid Office prior to the published June deadline. Federal Pell Grant program provides federal gift aid for students. The grants range from $400 to $4,000 a year based on enrollment status. Eligibility is determined by the federal government. A student applies for this grant by following the financial aid application procedures. Repayment is not required. Federal Supplemental Educational Opportunity Grant (SEOG) is a federal grant for eligible full-time undergraduate students who demonstrate financial need. Awards range from $100 to $4,000 per academic year. Students must follow financial aid application procedures to apply. Marymount Tuition Assistance Grants are sponsored by the University to make education affordable for as many full-time, first-degree undergraduate students as possible. To apply, students must follow financial aid application procedures. Awards are based on an indication of financial need. Virginia State College Scholarship Assistance Program (CSAP) is available to Virginia residents who will be full-time undergraduates and who demonstrate financial need. Students must file for the Virginia Tuition Assistance Grant and follow the financial aid application procedure. Repayment is not required. Virginia Tuition Assistance Grant Program (VTAGP), not based on financial need, is available to all legal Virginia residents who are full-time students and who do not have a previously earned bachelor’s degree. The amount of the award is up to $3,000. Awards will be made by the Commonwealth to students who file their applications by July 31. Repayment is not required. Late applications will be considered if funds are available. For further information, contact the Financial Aid Office. The program is funded by the Commonwealth of Virginia. Federal PLUS Loan may be used to supplement other financial aid programs. Parents of dependent undergraduates are eligible to apply for this loan each academic year at a variable interest rate. Eligibility is based on credit worthiness. Students must follow the financial aid application procedures. Specific details may be obtained by contacting the Financial Aid Office. William D. Ford Federal Direct Stafford Loan is for students enrolled on at least a half-time basis in a degree program; it enables them to borrow an annual amount based on their grade level and length of program. The federal government will pay the interest until the repayment period begins six months after the student leaves school. The Financial Aid Office provides information on obtaining the loan with Award Letter notification. The loan is borrowed directly from the federal government and the amount of the loan is based on the applicant’s eligibility. Students must complete the financial aid application process and demonstrate need in order to qualify. A Federal Direct Unsubsidized Stafford Loan is available for those who do not demonstrate need. The terms are the same as those for the William D. Ford Federal Direct Stafford Loan except that the student is responsible for the interest while in school. Federal Perkins Loan* is a federal program providing long-term loans to students who demonstrate financial need and are capable of academic performance at an acceptable level. The amounts awarded vary, depending on financial need. No interest accrues on the loan as long as the borrower remains at least a half-time student. Interest begins to accrue nine months after the borrower ceases to be at least a half-time student. The interest accrues at the rate of five percent per year. There are special cancellation provisions for borrowers who either become teachers in designated schools educating students from low-income families, or are teachers of handicapped students, or are in Head Start programs. Students must follow financial aid application procedures. *Notice to Perkins Participants By law, each student who participates in the Perkins Loan program must comply with the following requirements:
Failure to comply with these rules will result in the withholding of academic transcripts and grade reports and re-entry may be refused by Marymount University. Delinquent accounts may be referred to a collection agency. Legal action or reassignment of the loan to the federal government may occur in cases of defaulted loans. Academic Management Services (AMS) offers a ten-month budgeting plan that begins in May prior to fall semester. All or part of the annual costs may be budgeted with no interest rate assessed. A nonrefundable annual enrollment fee of $50 (includes insurance) is needed to apply. Applications are available from the Office of Student Accounts or from AMS at (800) 635-0120. There are three categories of scholarships offered by Marymount University: Academic Scholarships, awarded on the basis of academic performance; Need-based Scholarships; and Other Scholarships. All scholarships are designed for full-time, first-degree undergraduates. Please see the following list for eligibility criteria, contact information, and other details.
Academic Scholarships
Freshman Academic Scholarship
For new full-time freshman students who have cumulative average of B or better in high school and a combined SAT score of 1050 or higher. The scholarship is renewable to students who maintain academic eligibility. Contact: Admissions Office Clare Boothe Luce Scholarship Offered pursuant to a major bequest to the University by Mrs. Luce. The fund provides scholarships to highly qualified female undergraduates, to encourage them to enter; study; graduate; and teach physics, chemistry, biology, meteorology, engineering, computer science, mathematics, or physical science. Graduating high school seniors, transfer students, and currently enrolled students may apply. Awards are made solely on the basis of merit and are calculated to include the cost of tuition and/or room and board. Eligibility is limited to women who are U.S. citizens and enrolled full-time. Applications received by February 1 will be given priority consideration; late applications accepted until May 1 contingent upon funding. Contact: Admissions Office Presidential Scholarship The University’s most competitive freshman scholarship program. Students must have a combined SAT score of 1200 or higher and at least a B average. Each student must complete a scholarship application. Contact: Admissions Office Rowley Oxford Scholarship This scholarship is awarded each year to at least one student whose competitive essay, based upon broad scholarship, is judged to be of highest merit. This scholarship provides, travel, tuition, and room and board expenses for a six-week summer course of study at Oxford University. Contact: Academic Affairs Office Transfer Academic Scholarship A competitive scholarship for new full-time students who present transfer credit for 30 semester credits or more with a cumulative grade point average (GPA) of 3.3 or better and intend to earn their first bachelor’s degree from Marymount. The scholarship is renewable for full-time students maintaining eligibility. Deadline is May 1. Contact: Admissions Office Upperclassman Academic Scholarship Competitive scholarships for full-time students who have completed the required number of semester credits of academic work with a cumulative GPA of 3.0 or better, intend to enroll as full-time students toward their first bachelor’s degree at Marymount, do not already have an academic scholarship, and are recommended by the Scholarship Review Committee. Application deadline is April 1. Contact: Financial Aid Office The following scholarships all carry a need component in addition to other criteria. Therefore, students must complete the Free Application for Federal Student Aid (FAFSA) process. Consideration for any of these scholarships occurs at the time a student’s financial aid form is reviewed. There are no separate applications required for any of these scholarships. Funding in some programs is limited to one recipient who retains the scholarship for four years. Contact the Financial Aid Office with questions about any of the following Need-based Scholarships. Kazuko Barkey Scholarship Established in 1997 in honor of Mrs. Kazuko Barkey and awarded annually to a full-time undergraduate student majoring in Interior Design, who possesses a minimum of a 3.0 grade point average, and who demonstrates financial need. Mary Phelan Baynes Scholarship This scholarship is awarded annually to a full-time undergraduate student pursuing a degree in the School of Business Administration who has an interest in retailing and who demonstrates financial need. The student is eligible to retain the scholarship from initial receipt until graduation. Fred W. Beazley Scholarships Awarded annually to two entering full-time freshmen with academic promise and financial need. Awards are limited to Virginia residents and are renewable with maintenance of a satisfactory cumulative grade point average. Sr. M. Majella Berg, RSHM, Scholarship Awarded competitively to full-time students demonstrating need. Daphne Brady Nursing Scholarship Awarded to a full-time undergraduate Nursing major who has financial need and satisfactory academic ability. Richard Eaton Foundation Nursing Scholarship Established in 1995 with a grant from the Richard Eaton Foundation, this scholarship is awarded each year to full-time Nursing students with financial need.
William Randolph Hearst Endowed Scholarships
for Students in Nursing
Provided through an endowed fund established by the William Randolph Hearst Foundation, these scholarships are awarded to full-time undergraduate Nursing students who have financial need. Sr. Marie Louise Hogan, RSHM, Scholarship Awarded annually to an adult undergraduate student who is returning to college full-time for retraining in his or her field of interest. Sadie W. Kyle Endowed Business Scholarship Awarded to an outstanding full-time undergraduate student pursuing a bachelor’s degree in Business Administration at Marymount University. Rose Ann Benté Lee Nursing Scholarship Established in 1984 by Mrs. Rose Ann Benté Lee for deserving and qualified full-time Nursing students with financial need. Mary Gee Long Scholarship Awarded to a deserving full-time student who demonstrates financial need. William G. McGowan Scholarship Fund Awarded to full-time students with financial need, the scholarship is offered through an annual grant from the William G. McGowan Foundation in memory of Mr. McGowan, founder of MCI, who believed in creating educational opportunities to develop the gifts and talents of the young. Sr. Dolorita Mooney, RSHM, Memorial Scholarship Awarded to a deserving full-time student with financial need. Henry C. and Bessie B. Newton Scholarship Sponsored by the University, this generous grant program is designed to make a Marymount education affordable for as many full-time undergraduate students as possible. Maura O’Donnell Memorial Scholarship Awarded annually to a full-time student in the A.A.S. Nursing program who has successfully completed the freshman year at Marymount University. Financial need is considered as well as academic standing. Religious of the Sacred Heart of Mary Scholarship Awarded annually to a deserving full-time undergraduate student demonstrating financial need. Mary Lee Scatterday Scholarship Awarded annually to an outstanding, full-time, undergraduate student pursuing a degree in the field of art at Marymount University.
Jennifer Tino ’94 World Trade Center
Memorial Scholarship
Established by the family and friends of Jennifer Tino ’94, who was killed on September 11, 2001, in the World Trade Center. Awarded to an undergraduate School of Business Administration student with demonstrated need who maintains a minimum GPA of 3.0. Steven C. Virbick Memorial Scholarship Awarded to a full-time undergraduate student who has financial need and a B average or better. Lettie Pate Whitehead Scholarships Available to Christian women pursuing a degree in Nursing. Applicants must apply for financial aid, demonstrate need, and meet other eligibility criteria. Elizabeth Wright Memorial Scholarship Awarded to a talented undergraduate student seeking a career in the communication arts and demonstrating need. These are other scholarships which have variable eligibility criteria, but do not require the filing of a FAFSA form. Students interested in these scholarships should contact the office listed. Alumni Scholarship Contributed by William C. Frogale, this scholarship is awarded to a full-time undergraduate who is a graduate of any Marymount school or is the child of a graduate of any Marymount school or college. Contact: Financial Aid Office Kathleen O’Neill Bocek Scholarship Awarded annually to a full-time sophomore student who displays outstanding qualities of fairness, honesty, and a positive attitude during the freshman year. Deadline is April 1. Contact: Financial Aid Office Daniel Mack Cornell Endowed Scholarship This scholarship will be granted to juniors or seniors in Communications who have a record as outstanding students in the field of communications with a minimum 3.4 GPA earned at Marymount or transferred from another educational institution. Applicant must also be carrying at least nine credit hours and working toward full-time student status (as defined by University policy), intend to pursue graduate study and/or a career in communications or writing, and be a U.S. citizen. Contact: Department of Communications, School of Arts and Sciences Pablo Coto Endowed Scholarship Supported by a fund established in memory of Pablo Coto. The scholarship is awarded annually to a senior student who exemplifies excellence in academics and leadership and demonstrates a deep spiritual commitment and loyalty to family and classmates. Deadline is April 1. Contact: Financial Aid Office HR Leadership Scholarship A $3,000 scholarship awarded to a full-time undergraduate pursuing a B.B.A. degree with a specialty in Human Resource Management. Sponsored by the HR Leadership Awards of Greater Washington. Applicants must maintain a B average. Contact: Office of Corporate Outreach, School of Business Administration Ann Leary Finnegan Scholarship Awarded annually to a full-time undergraduate Nursing student demonstrating academic promise and financial need. Contact: Department of Nursing, School of Health Professions Leadership Scholarship Awarded to members of the Student Faculty Council and the Co-Curricular Council who are serving the University in eligible leadership roles. Contact: Student Activities Office ROTC Scholarship Awarded by the U.S. Army on a competitive basis to outstanding young men and women interested in a military career option. Marymount offers on-campus partial resident scholarships on a space-available basis to students chosen as ROTC scholarship winners, and partial tuition scholarships to students enrolled in the ROTC program but who do not win an ROTC scholarship. Contact: Financial Aid Office Virginia Teaching Scholarship Loan Program Offers an annual $2,000 scholarship/loan with no repayment requirement for those who teach in Virginia each year that the award is received. Students may apply if they have cumulative GPAs of 2.7 or above, are at junior status or above, and are enrolled full time in approved mathematics, science, foreign language, or special education programs. The scholarship is restricted to Virginia residents. Contact: School of Education and Human Services Federal College Work Study (FWS), a federal program, makes on-campus jobs available to students with demonstrated financial need. The earnings are not credited to student accounts, but are paid directly to the student each month. Jobs are assigned through the Office of the Vice President for Student Services. Students must follow financial aid application procedures. Campus Employment The University employs a large number of full-time students and pays them from its own resources. Students who are not eligible for FWS awards may apply for employment under this program. Applications are available from the Vice President for Student Services Office. Graduate students are eligible for assistantships in all Schools and select offices upon presentation of appropriate credentials. Assistantships provide tuition reimbursement and a living expense stipend. For details and procedures to apply for graduate assistantships, contact the Office of Academic Affairs. Virginia Tuition Assistance Grant Program (VTAGP) offers to full-time graduate degree-seeking students (pursuing a first graduate degree), who are legal residents of the state, a grant of up to $3,000 for graduate study, regardless of need. Applications, which are available from the Financial Aid Office, 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.
Loans
William D. Ford Federal Direct Loan
Graduate students may borrow each academic year. Students must enroll at least half time in a degree program for six credits per semester. For details, see the section on Undergraduate Financial Aid.
Scholarships
HR Leadership Scholarship
A $3,000 scholarship awarded to a graduate student pursuing a degree in the human resource field. Sponsored by the HR Leadership Awards of Greater Washington. Applicants must maintain a B average. Contact: Office of Corporate Outreach, School of Business Administration William G. McGowan Scholarship Fund Awarded to full-time students with financial need,
the scholarship is offered through an annual grant from the William G.
McGowan Foundation in memory of Mr. McGowan, founder of MCI, who believed
in creating educational opportunities to develop the gifts and talents
of the young. Contact the School of Business Administration for application
information.
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phone: 703-522-5600 Marymount University, Arlington, VA 22207 © Marymount University 2002 www.marymount.edu contact: webmaster@marymount.edu |
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