Financial Aid FAQ’s

Will I qualify for Financial Aid?

For detailed information about the Financial Aid Process, please contact the Financial Aid Office:

Financial Aid Process/

To contact the Financial Aid office, please email financial.aid@marymount.edu or call 703-284-1530. Our office hours are Monday – Friday, 9:00 am – 5:00 pm. If you have not heard back from an inquiry within 2 business days, please contact the Director of Financial Aid, Debbie Raines. Our website can be found here.Office of Financial Aid web page.

Additionally, for an estimate of what you can expect to pay at MU if you are an entering freshman, please go to the The Net Price Calculator

What are the types of financial aid?

Please see the description under:

Types of Financial Aid

Especially note that all full-time Virginia residents should apply for a Virginia Tuition Assistance Grant Program (VTAG).The VTAG is available to all full-time Virginia undergraduate students as well as full-time Virginia graduate students who are pursuing a degree in the health-related professions.  Here is the link to the form: Virginia Tuition Grant.

What paperwork is needed to apply for financial aid?

Marymount’s Office requires completion of the FAFSA (https://fafsa.ed.gov/).You can find additonal information on Marymount Econcerige page regarding FAFSA FAFSAThe FAFSA is needed for students who wish to be considered for Federal Stafford Loans, grants, Marymount tuition grants, scholarships, and paid employment. If you’re a full-time Virginia resident, you should also apply for a Virginia Tuition Assistance Grant Program (VTAG). The VTAG is available to all full-time Virginia undergraduate student; full-time Virginia graduate students who are pursuing a degree in the health-related professions are eligible for this grant.

Is the FAFSA required for graduate students who want loans or assistantships as well?

The FAFSA is required for any student who wishes to apply for federal loans (undergraduate and graduate). We are notified by Academic Affairs of who has been selected to be a Graduate Assistant. Other than that, we have no involvement nor is anything required of them from us to become a grad assistant.

Information on, and how to apply for Assistantships can be found here.

Is there a deadline for applying for financial aid?

Marymount does not have a deadline for financial aid applications. However, you need to allow a minimum of six weeks before the end of the academic year to process your FAFSA. You also need to allow extra time for corrections or verification procedures. It is important to remember that some sources of need-based aid, such as the Marymount Grant, may be depleted if you wait until late in the year. Therefore, it is wise idea to file the FAFSA as early as possible after January 1 for the next academic year. Marymount’s priority deadline is March 1. 

Who determines whether or not I will qualify for financial aid?

Because each family is unique, all students are considered for financial aid on an individual basis. A financial aid package is created using three specific factors:

a. Cost of the institution: tuition and fees, room and board, books and supplies, and a personal allowance as set by the University

b. Contribution: the amount the family is able to make, based on income, family size, state of legal residence, assets, and age of the parents

c. Need: Calculated by subtracting your contribution from the cost.

Do I need to do anything for pending financial aid to be applied to my bill?  

The bill explains the reasons that a particular award may not be applied to the bill. For example, loans must have the Master Promissory Note and Entrance Counseling completed   <<link to corresponding eConcierge entry>>. If you are confused about how to read your bill or about pending financial aid, please contact the Office of Student Accounts at (703) 284-1490.

For detailed information about the FA Process, Go to  For an estimate of what you can expect to pay at MU, please go to  Freshman Net Calculator

To contact the Financial Aid office, please email financial.aid@marymount.edu or call 703-284-1530. Our office hours are Monday – Friday, 9:00 am – 5:00 pm. If you have not heard back from an inquiry within 2 business days, please contact Debbie Raines at debbie.raines@marymount.edu.

What do I do if my parents are rejected from their plus loan?

 During the parents LIVE on line credit application process, IF denied, they will be presented with these three choices and have to make one as part of the application process in order to continue:

1) Fix the issue on their credit report; To fix the problem on their credit report the parent will have to contact a credit company to resolve the problem.

2) Pursue getting an endorser;To get an endorser/co-signer the parent will have to reapply with someone else who will vouch for them paying back the loan.

3) Request to receive an additional $4000 or $5000 in unsubsidized Stafford Student loan for the year instead of pursuing the Parent PLUS loan. For more information about the additional unsubsidized loan the student will have to contact Marymount University’s Financial Aid office.

To contact the Financial Aid office, please email financial.aid@marymount.edu or call 703-284-1530. Our office hours are Monday – Friday, 9:00 am – 5:00 pm. If you have not heard back from an inquiry within 2 business days, please contact Debbie Raines at debbie.raines@marymount.edu.

What are the steps for obtaining and applying for my loan?

You will be required to complete entrance counseling  Entrance Counseling, a tool to ensure you understand your obligation to repay the loan, and you will also be required to sign a Master Promissory Note (MPN)  Master Promissory Note (MPN)agreeing to the terms of the loan. Please see the links for details on how to accomplish each of these tasks.

Can I lose my financial aid if my grades are not good or if I drop a class?

Yes! Please see the details at Satisfactory Academic Progress.

Do I have to apply for financial aid every year?

Yes! You must reapply for financial aid every academic year by completing the renewal application for federal student aid. If you do not receive the renewal application then you must complete the next year’s FAFSA.

 

What is the difference between Financial Aid and Student Accounts?

The Financial Aid Office awards Financial Aid and can assist with all things Financial Aid related. This includes but is not limited to, assistance in applying for aid, award letter questions, and turning in Financial Aid documentation.

The Office of Student Accounts handles billing. Their primary options are, but are not limited to, informing you of your costs and how much you would owe, payment plan options and refunds.

What is National Student Loan Data System (NSLDS)?

The National Student Loan Data System (NSLDS) is the U.S. Department of Education’s (ED’s) central database for student aid. NSLDS receives data from schools, guaranty agencies, the Direct Loan program, and other Department of ED programs. NSLDS Student Access provides a centralized, integrated view of Title IV loans and grants so that recipients of Title IV Aid can access and inquire about their Title IV loans and/or grant data. Students can view their loan and grant data history. The NSLDS site can be found here.

What are the federal loan limits for a subsidized loan, unsubsidized loan, Parent Plus loan or Graduate Plus loan?

Please refer the Federal Student Aid website for the most up to date information about your loan: Student Aid

What are the borrowing loan rates for a subsidized loan, unsubsidized loan, Parent Plus loan or Graduate Plus loan?

Please refer to the Federal Student Aid website for the most up to date information about your loans: Interest Rates and Fees.

Dependent Undergraduate Students Federal Loan Limits

First-Year( 0-29 credits ) Annual Loan Limit $5,500—No more than $3,500 of this amount may be in subsidized loans.

Second-Year( 30-59 credits) Annual Loan Limit $6,500—No more than $4,500 of this amount may be in subsidized loans.

Third-Year and Beyond  (60 and up credits) Annual Loan Limit $7,500—No more than $5,500 of this amount may be in subsidized loans.

* There is a maximum Stafford loan limit for the entire undergraduate education for dependent undergraduates of $31,000, and no more than $23,000 of this amount may be in subsidized loans.

Independent Students (and dependent undergraduate students whose parents are unable to obtain PLUS Loans) Loan Limits

First-Year( 0-29 credits ) Annual Loan Limit $9,500—No more than $3,500 of this amount may be in subsidized loans.

Second-Year( 30-59 credits) Annual Loan Limit $10,500—No more than $4,500 of this amount may be in subsidized loans.

Third-Year and Beyond  (60 and up credits) Annual Loan Limit $12,500—No more than $5,500 of this amount may be in subsidized loans.

*Maximum Stafford limit for entire undergraduate school $57,500 for independent undergraduates—No more than $23,000 of this amount may be in subsidized loans.  This maximum is for Independent undergraduates, and dependent undergraduates whose parent has been rejected for the PLUS Loan.

Graduate Students Loan Limits

$20,500 (unsubsidized only)

* $138,500 for graduate or professional students—No more than $65,500 of this amount may be in subsidized loans. The graduate aggregate limit includes all federal loans received for undergraduate study.

Effective for periods of enrollment beginning on or after July 1, 2012, graduate and professional students are no longer eligible to receive Direct Subsidized Loans. The $65,500 subsidized aggregate loan limit for graduate or professional students includes subsidized loans that a graduate or professional student may have received for periods of enrollment that began before July 1, 2012, or for prior undergraduate study.

Other than interest, is there a charge for this loan?

There is a loan fee on all Direct Subsidized Loans and Direct Unsubsidized Loans. The loan fee is a percentage of the loan amount and is proportionately deducted from each loan disbursement. The percentage varies depending on when the loan is first disbursed. For the direct subsidized and unsubsidized loans, the fee is typically a little more than 1% of the loan. For the PLUS loan, the fee is typically over 4%.

How do I contact Marymount’s Financial Aid Office?

To contact the Financial Aid office, please email financial.aid@marymount.edu or call 703-284-1530. Our office hours are Monday – Friday, 9:00 am – 5:00 pm. If you have not heard back from an inquiry within 2 business days, please contact Debbie Raines at debbie.raines@marymount.edu.

For your convenience, please find a list of our staff below:

Jennifer Mayen Information Specialist

Ingrid Eversley, Administrative Assistant

Nancy Williams Information Specialist (part time)

Janet McPherson Associate Director

Julia Connell Assistant Director

Kathy Estes Assistant Director

Eroica Nguyen Senior Associate Director

Debbie Raines Director

What is the fax number for Marymount’s Financial Aid?

Our fax number is 703-516-4771.

Please see these resources for additional information:

The Financial Aid Process–  Financial Aid Process

The FAFSA Form: FAFSA Form

Types of Financial Aid:    Types of Financial Aid