Uncommonly worth it.
As a public institution, St. Mary’s College of Maryland is committed to providing access to our unique honors college education to students from diverse backgrounds. The Office of Financial Aid strives to work closely with families to help you find resources through a range of federal, state, campus-based, and private programs. Evidence of this commitment can be seen in our low student indebtedness and loan default rates. Both of these figures are well below national averages and attest to the strong outcomes of our students.
If you are applying for the 2019-2020 year, the How To Apply section will guide you through the process.
Please contact the Office of Financial Aid with any questions you have about the financial aid process. We are committed to helping you access all the financial aid resources for which you qualify in order to allow you to enroll and successfully graduate from St. Mary’s College of Maryland.
What is Financial Aid?
Financial aid consists of funds provided to students and families to help pay for post-secondary educational expenses. St. Mary’s College of Maryland offers support to students through both need-based and merit-based programs. Of the first-year students in the entering class of 2018, more than 91% received a grant and/or scholarship from St. Mary’s College. Transfer students are also eligible for both types of institutional support.
The U.S. Department of Education conducts a “need analysis” of your or your family’s income and then based on their calculations, determine your Estimated Family Contribution (EFC). The student and parent need to submit the FAFSA yearly in order to qualify. The FAFSA may be started October 1st prior to the start of that academic year. The state of Maryland’s deadline is February 28, but it may be submitted at any time.
Scholarships are funds awarded to a student who meets certain criteria. Requirements vary based on the award. Most are based on academic success but may range from need to demographic information. These funds do not have to be repaid.
Grants are funds that are generally given by individuals or non-profit organizations. Grants are usually given to fund a project or an endeavor and the recipient may have to provide progress reports or an overall report upon completion. The recipient does not have to repay these funds. Need-based grants are offered at the federal, state, and institutional level. Federal grants include the Pell Grant and the Supplemental Education Opportunity Grant (SEOG). The state of Maryland also offers a variety of need-based grants for students. At the institutional level, St. Mary’s offers grants to students who demonstrate financial aid.
Loans may be provided by the government or a private agency. They may cover the entire cost of going to college including tuition, room, and board, or only a portion of the cost. It is the responsibility of the student, parent, or guardian to seek out and apply for loans. These funds must be repaid plus interest. When choosing to lend from a private loan a student/parent may borrow up to the student’s yearly Projected Cost of Attendance minus any other aid the student is receiving (including other student/parent loans). To apply for a private loan, borrowers should contact their lender directly.
Student Employment & Work Study
St. Mary’s offers various opportunities for student employment. Student employees fill a number of positions on campus, from barista to research assistant. Employment opportunities may be advertised by the Career Development Center, a department, or individual professors. The Federal Work Study Program provides funds for part-time employment to assist students in financing the cost of their college education. In order to qualify for the program, students must have filed a FAFSA before February 28 and have demonstrated financial need.
As a state-supported institution; St. Mary’s College of Maryland has extremely limited resources for institutional financial aid. The college does not have sufficient funding to meet the financial needs of international applicants who are not eligible for federal financial aid programs. An international applicant may be eligible for a merit scholarship – these decisions are made by the Office of Admissions no supplemental form is required for scholarship consideration.
How to Apply
To apply for financial aid:
St. Mary’s College of Maryland FASFA (Title IV) Code: 002095
Learn more about applying for financial aid:
Important Dates & Deadlines
Submit the FAFSA as early as possible. You are responsible for making sure that all financial aid documentation is submitted before the deadlines.
2019-2020 FASFA Availability: October 1, 2018
Maryland State Scholarship Deadline: February 28, 2019
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