Financial Aid Brochure

FAQs

As a public institution, St. Mary’s College of Maryland is committed to providing access to our unique honors college education to students of all financial backgrounds. We believe that no qualified student should be denied the right to pursue an education and we will work with families to help find resources through federal, state, and campus-based programs.

St. Mary’s College has a number of financial aid options available to eligible students. Students who qualify for financial aid receive it in the form of scholarships, grants, loans and/or work-study.

Tuition & Fees

Do I have to wait until I am accepted to St. Mary’s before I apply for financial aid?

Being Maryland’s public college means we’re devoted to accessibility, diversity and affordability.

No, you don’t have to wait. You may apply for financial aid before you are accepted, but you will not receive a financial aid award letter until you have been accepted. We encourage you to apply for aid so we can process your aid application as soon as possible.

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Our graduates have the lowest average debt among Maryland public four-year institutions

› Net Price Calculator:

How soon can I complete the FAFSA?

www.smcm.edu/financialaid

Source: The Institute for College Access & Success, College InSight, (www.college-insight.org/)

› St. Mary’s College Priority FAFSA Filing Date:

Instead of waiting until January 1, students and their families can complete the FAFSA as early as October 1 for the upcoming academic year.

February 15th

› FAFSA and FSA ID:

For the 2017-18 academic year, the FAFSA will include twoyear-old tax information (prior-prior year). For the 2017-18 FAFSA, you will provide income information from the 2015 tax year. You must complete and submit the FAFSA online at www.fafsa.ed.gov. St. Mary’s school code is 002095. Keep all financial aid material for your records. Use an active email address on the FAFSA and check both your inbox and junk mail for messages from the federal processor, Maryland Higher Education Commission, and the Office of Financial Aid at St. Mary’s College.

How can I estimate my financial aid package?

You can estimate your financial aid eligibility using our Net Price Calculator at www.smcm.edu/financialaid. The NPC gives you an idea of your out-of-pocket cost to attend The Honors College.

› Maryland Higher Education Commission (MHEC): www.mhec.maryland.gov

› Maryland Higher Education Commission FAFSA Received by:

www.fafsa.ed.gov

How do I apply for financial aid?

2016-2017 ESTIMATED YEARLY EXPENSES

› St. Mary’s College of Maryland School Code for FAFSA:

Full-time students (12 credit hours or more)

Maryland Resident

DIRECT COSTS

Non-Maryland Resident

ON-CAMPUS

COMMUTER

ON-CAMPUS

$11,418

$11,418

$26,566

Fees

$2,774

$2,774

$2,774

Room**

$7,184

n/a

$7,184

Board***

$5,258

n/a

$5,258

$26,634

$14,192

$41,782

Tuition 1

Billable Charges to SMCM

March 1st

› Student & Parent Federal Loan Gateway:

002095

www.studentloans.gov

Contact the Office of Financial Aid: 47645 College Drive St. Mary’s City, MD 20686 www.smcm.edu/financialaid

finaid@smcm.edu 800-492-7181 (toll free) 240-895-3000 240-895-4959 (fax)

Fees support a variety of programs including campus facilities, special events and student activities.

1

**Room based on dorm, double occupancy. ***Board based on silver plan (24 guest passes) + $400 dining dollars.

Submit Your

FAFSA after

October 1, 2016

Helpful Info

St. Mary’s College awards over $6 million in grants and scholarships each year

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Financial Aid 2016-2017

www.smcm.edu/financialaid

NEED BASED All students who are accepted and complete the FAFSA are considered for federal, state, and college financial aid. To be eligible for need-based aid review, students must file the FAFSA. Students and their families may complete the FAFSA as early as October 1 for the upcoming academic year.

GRANTS Need-based grants are offered at the federal, state, and institutional level. Grants are educational funds that do not need to be repaid. Federal sources of grants include the Pell Grant and the Supplemental Education Opportunity Grant (SEOG). The state of Maryland also offers an array of need-based grant programs for in-state students. For more information about state financial aid, visit www.mhec.state.md.us/financialAid/descriptions.asp.

The FAFSA filing received by date to be considered by the state for grant funding is March 1.

At the institutional level, St. Mary’s College of Maryland offers grants to students who demonstrate financial need. Demonstrated need is the difference between the cost of attendance and the expected family contribution, or EFC, which is determined by the federal government and reported to institutions through the FAFSA process.

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Scholarships of $5,000 to $10,000 will be awarded to 10 financially needy incoming students who intend to major in one of the science and math fields at St. Mary’s. Please visit the STEM Navigators website at www.smcm.edu/navigators for more information.

St. Mary’s scholarships recognize students with exceptional academic achievement and/or co-curricular accomplishment. They are offered on a competitive basis without regard to financial need.

Students may receive both grants and scholarships.

Students are automatically considered for a scholarship based on their academic record, standardized test scores, strength of curriculum, essay, recommendations, and co-curricular activities.

There are no pre-determined scholarship formulas. All St. Mary’s College scholarships are renewable as long as the student remains in good academic standing and maintains at least a 3.0 GPA in at least 12 graded credits each semester. ›

St. Mary’s Academic Achievement Scholarship These scholarships are awarded to students with outstanding academic achievement and significant individual attributes.

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St. Mary’s Transfer Scholarship Scholarships are made on a competitive basis to transfer students with outstanding academic records at another college.

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Phi Theta Kappa or Honors Program Scholarship Transfer students who enter St. Mary’s with an A.A. or A.S. degree, a GPA of 3.5 or better, and who are members in good standing of Phi Theta Kappa or Honors Program are eligible.

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First-Year Excellence Scholarship Students who complete their first year of study at St. Mary’s College with excellent grades will be considered on a competitive basis for this scholarship. First-Year Excellence Scholarships are limited to students who did not receive a scholarship upon entrance.

In addition to need-based grants, all students are automatically considered for merit-based scholarships. ›

STEM Navigators Scholarship Program

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St. Mary’s College of Maryland TAM Scholarship Graduates of the Teacher Academy of Maryland who earned a 3.25 GPA and no grade lower than a C in the program may receive up to $4,000 over eight semesters of undergraduate study to support continued educational studies at St. Mary’s College of Maryland.

SELF-HELP OPTIONS FOR FAMILIES Students and their families should make decisions about financing college costs together. Having conversations early in the college search process about how students can contribute to their undergraduate education is important. Working together, financial aid administrators, students and parents can determine the most cost-effective way to pay for college. › St. Mary’s College offers an in-house payment plan through

the Business Office › Federal Direct Parent PLUS Loans › On-campus employment › Outside scholarships › Alternative Education Loan

St. Mary’s College of Maryland Foundation Scholarships www.smcm.edu/support/thanks-recognition/scholarships

Photo by Katherine Gross

Types of Aid

SCHOLARSHIPS

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