College isn't free, as I'm sure you realize. It's a truism repeated ad nauseam in the admission world, but let me assure you: nothing is quite so acutely agonizing as signing that first tuition check. Personally, I think it's the closest I've ever come to knowing what that guy who cut off his own arm in Utah felt like.
But thankfully there are other options out there for those of us who aren't quite ready to put up a kidney on e-bay. Read on after the jump to get the answers to some of our most frequently asked financial aid questions--and to find out how to get some of that cash for yourself!
 | |
| The angels in our Financial Aid office, distributing grant money. |
The Financial Aid office is in charge of making sure you get the necessary financial assistance to pay for college (needless to say, you should treat them nicely), but there are a few things you should know about the process to make it as easy on yourself--and them--as possible.
First, you need to fill out your FAFSA (Free Application for Federal Student Aid). You'll need it for any kind of aid at any American college or university. So click HERE to get started on that. Seriously. Do it now. It's a royal pain (as is the case with virtually anything including the word "federal"), but it must be done. It's ok. We'll wait.
All right. Now that you're done with that (and if you aren't...you really, really should be), we'll continue.
Q: First and foremost, what is the cost of tuition at Marymount College?
A: Annual tuition: $27,396
Room and board at one of our residential communities: $12,074 (food, parking, and transportation all included!)
Fees: ~$695
Q: So...what is financial aid, exactly?
A: Financial Aid is just what it sounds like: Federal and private loans, grants, work study, and scholarships that assist you in paying for college.
Q: What factors influence the amount of federal aid that I receive?
A: That questions seems so simple, doesn’t it? Your financial aid is based on your FAFSA application, which is part of an uber-complex system that the federal government uses to determine how much “need” you have for the money.
Essentially, the idea is that you are responsible for as much money as you can pay without being driven into destitution. The government takes into account your household's income, holdings, number of children, state and federal taxes, etc.; and then decide how much you can reasonably be expected to pay on your own.
A: A federal loan is money offered through the United States Government. Because it’s a loan (as opposed to a grant…or a gift) you are required to pay it back. Here's a great site for more specific information on the various types of loans.
Q: When do I have to pay back my federal loans?
A: You have to start paying your loans back six months after you graduate (hopefully this gives you enough time to find a job), or if your class load drops below six units.
A: Yes and no. If you want money through your bank, you’ll need to work out a private loan on an individual basis with the institution—the same way you’d get a loan to buy a car. This is usually a last resort, as the interest rates tend to be higher for private loans and good credit (which many prospective college students have yet to build) is usually required.
Q: Can I get financial aid for summer and/or winter term?
A: No. Financial aid only covers Fall and Spring semesters.
Q: What are your financial aid deadlines?
A: Our priority deadline for financial aid is March 2nd.
If you submit after this date you can still receive aid, but everyone who submitted before you gets the first crack at that lovely, but limited, free money. So, unless you have a ton of expendable income you want to blow on tuition, you'll want to finish the FAFSA by the end of January.
Q: When will I receive my FA packet?
A: We start distributing aid in March. You won’t get a packet before you’re admitted. Sorry.
Marymount offers on-campus jobs (for instance, you could work for us in Admissions!) for students. They pay an hourly wage, and, unlike public work study, we don’t require that you spend the money you make on school-related expenses. You probably should, but you’re all grown up, so it's up to you.
A: Buddy up to your rich uncle? Otherwise, you can apply for private scholarships, make sure you’ve sent us all the necessary material for fine-art or merit based scholarships, submit your paperwork for Cal Grants, and apply for a work-study job.
Private scholarships are great. All kinds of foundations and organizations have all kinds of money that they are required to give away every year…and very few students ever apply. Fastweb.com and scholarships.com are good sites that help to match your information with potential scholarships (though at this point I am obliged to say that the links are provided for your convenience, and Marymount College does not officially endorse any private vendor or their sponsors, nor do we guarantee that you will receive any private financial assistance, yadda, yadda, legal jargon.).
A: We could tell you, but then we’d have to kill you. Seriously. It’s an ultra-secret matrix that only our senior Financial Aid staff is able to access. (In other words, I have no idea. ...Or do I?).
What I can disclose is that we take into account a number of factors, including your individual need, housing plans, athletic and artistic ability, and scholarly merit.
A: Yes we do, primarily through the Yellow Ribbon Program.
Always check with your VA office—they’ll know better than anyone what is available to you.
A: Sadly, no. Those are all you, but they're very reasonable.
Q: Does financial aid cover value-added programs like Marymount's MAAP and MAST?
No. Value-added programs are viewed as "optional," (as opposed to "essential"), and thus can't be paid for with aid money.
Q: Well, can I at least buy books with my loans?
Yes you can, but only AFTER you use them to pay for your tuition, housing, etc. Then, if you're lucky enough to still have some money left over, you can use your loans for anything directly related to your education. New iPad! Woot!
Q: Can international students apply for financial aid?
No. Only United States citizens and legal residents can apply for federal aid. However, international students are still able to apply for our merit, athletic, and fine-art scholarships.
What about private aid? Also a “no,” unfortunately. Because you can’t fill out a FAFSA without a social security number, and because the FAFSA is necessary to receive private aid, non-citizens cannot qualify.
Q: What about AB540?
A: The AB540 program in California allows undocumented students who have fulfilled several criteria to qualify for in-state tuition. Because we’re a private school, we don't offer separate in-state tuition, and AB540 students SHOULD NOT fill out the FAFSA (it's really, really bad juju as far as the federal government is concerned). Just like international students, AB540 can only receive merit-based (i.e. determined by grades and SAT scores), athletic, and fine-art scholarships.
Q: Wait, why are loans counted in my financial aid package? Aren’t loans just a deferred method of self-payment?
A: Well...yes. But since loans aid you financially they are included in your total financial aid package. Makes sense.
Scholarships: A Beautiful Thing
 |
| (Hopefully when you receive yours it will be raining more than $1 bills) |
Q: What types of scholarships are offered at Marymount College?
A: We offer merit-based academic scholarships, fine art scholarships, and Men's and Women's soccer scholarships.
Q: What are the requirements for the merit scholarships?
A: The merit scholarships are based on your academic GPA and composite SAT/ACT scores, and are broken down as follows:
$8,000 "President's Scholarship" - 3.30+ GPA , and at least a 1530 SAT and/or 22 ACT.
$6,000 "Dean's Scholarship" - 3.00 - 3.29 GPA, and at least a 1410 SAT and/or 20 ACT.
$4,500 "Achievement Scholarship" - 2.80 - 2.99 GPA and at least a 1210 SAT and/or 17 ACT.
Q: How do I go about applying for a fine-art scholarship?
A: We accept submissions for any kind of fine art--from film, to music, to hula dance, to post-modern abstract still-life wax sculptures (if that's what you're into).
Just send us a portfolio of your work to our office (or a DVD, a picture, a demo-tape, or whatever medium best suits your work) and we’ll get it to our fine-art scholarship board. They’ll review it and let you know how much, if any, aid is awarded. It could net you up to $1,500!
Just send us a portfolio of your work to our office (or a DVD, a picture, a demo-tape, or whatever medium best suits your work) and we’ll get it to our fine-art scholarship board. They’ll review it and let you know how much, if any, aid is awarded. It could net you up to $1,500!
Please, for your own sake, don’t send us an original. We won’t give it back (But we may hang it on the office refrigerator).
Q: What about soccer?
A: Soccer scholarships are awarded directly through our athletic department. Generally, if you’re going to receive a soccer scholarship—you'll know about it. Our coaching staff actively recruits exceptional young athletes from all over the world. However, if you’re really good and you haven't been scouted by us but still want to be considered, you can fill out THIS soccer questionnaire, and our coach might bring you out to practice with the team.
Questions? Comments? Manifestos? Leave us a comment or contact our office. We'll respond. I promise.
$8,000 "President's Scholarship" - 3.30+ GPA , and at least a 1530 SAT and/or 22 ACT.
ReplyDelete$6,000 "Dean's Scholarship" - 3.00 - 3.29 GPA, and at least a 1410 SAT and/or 20 ACT.
$4,500 "Achievement Scholarship" - 2.80 - 2.99 GPA and at least a 1210 SAT and/or 17 ACT.
SO what i f i meet the criteria for all of the above but get none............how does that work?
Whats it called when you have circumstance that affects your ability such as a family funeral that cost a total of about 8,000 dollars and it happened within a 8 months of applying for fin aid.... is that taken into account.
The hypothetical salary for this household is about 13k a year.
Just wondering.
Your answer is highly appreciated!
Meet all of the criteria but get none? What do you mean?
ReplyDeleteAlso, you should note that our criteria have changed since this was posted. You can find the new criteria on our website.
As for the hypothetical situation, it's probably best for you to call our office so we can give you a more personal answer (without broadcasting it to the world at large). 310.303.7311.
Oh, jaja this is from 2010. Silly me. I found the updated version on the website. Thanks and have a great day! I look forward to entering your college!
ReplyDelete