Types of Aid

Mount Saint Mary’s University Academic Scholarships

When you apply for admission to Mount Saint Mary’s University, you are automatically placed into consideration for merit awards. And you don't have long to wait for news about your awards: notification is mailed within one month of each deadline.

Best of all, merit awards are renewable over your four years at the Mount. All you need to do is maintain an overall competitive grade point average (GPA). Some scholarships are department specific; they have their own requirements as well.

Full-tuition awards are offered to those with exceptional academic merit. For all others, Mount Saint Mary’s University offers the following awards, detailed below.

As always, please do not hesitate to contact us at 310.954.4190 with any questions you may have.

Grants

Additional financial resources are available to you in the form of grants, "free" money that does not require repayment. Grants are provided from a variety of sources, including the following:

• Cal Grant:

  Awarded by the State of California, Cal Grants come in two types (A and B awards). To qualify for a Cal Grant, you will be enrolled in an undergraduate program, maintain an eligible GPA, demonstrate financial need, and be a resident of California.

• Pell Grant:

  Awarded by the Federal government, Pell Grants are based solely on demonstrated financial need. Your FAFSA information will determine your eligibility and amount of any potential award.

• SEOG Grant:

  SEOG Grants are reserved for eligible undergraduate students who are enrolled in a minimum of 12 units.

• Mount Award:

  Awarded by Mount Saint Mary’s University, Mount Awards are reserved solely for undergraduate students who have demonstrated financial need. You will be enrolled in at least 12 units, and the amount of your grant will be determined by other financial aid amounts you receive. Mount Awards are funded through the generosity of Mount Saint Mary’s University donors.

Institutional Awards and Scholarships

As part of your application to Mount Saint Mary’s University, you are automatically placed into consideration for a variety of talent and achievement awards. As with most awards, you will be enrolled in a minimum of 12 units to receive these awards.

• Alumnae Award: If you are the daughter of a Mount alumna, you may be eligible for an Alumnae Award, valued at $1000 per year. You can learn more about Alumnae Awards by calling 213.477.2767.

• Dean’s Transfer Award: This award is given to academically talented students with a minimum of 24 transferable units and at least a 3.0 GPA. The $10,000 annual scholarship is renewable up to three years for the first bachelor’s degree. Students must maintain good academic standing to renew the scholarship.

• Music Award: If you are enrolled as a Music major and demonstrate exceptional talent, you may be eligible for a Music Award (amounts vary, based on financial need and merit). For more information, contact Therese Fassnacht at 310.954.4266 or click here to email.

• Outside Scholarships: You may be eligible for one or more scholarships awarded by third-party organizations not affiliated with Mount Saint Mary’s University. Though these scholarships are considered independent of MSMU, you are required to report them and coordinate the amounts with your overall award package as determined by the Mount. To learn more about outside scholarships, please click here, or call us at 310.954.4190.

Loans

Another form of financial aid is the student loan. Just as it sounds, this form of educational financing is presented to you as a loan, which you must repay (typically, though not always, after you have completed your studies). Loans may be provided to students, their parents, or both parties, based on the overall need.

The following is a collection of loan options you may wish to consider as part of your overall college financial aid strategy.

• Federal Direct Loan:

  This is the most common loan type for both undergraduate and graduate students. Federal loans include an interest charge, require repayment, and come in two forms: subsidized and unsubsidized.

  With a subsidized loan, the Federal government pays the interest owed while you are in college. You must be enrolled at a minimum of half-time, and your awarded loan amount is based on financial need as documented in your FAFSA. Interest rates are variable and are adjusted yearly on July 1; the maximum interest rate is 8.25%. Subsidized loans require a master promissory note as well as entrance and exit counseling. Your repayment schedule begins six months after your graduation, withdrawal or any time you drop below half-time.

  • First-year students may borrow up to $3500 per year

  • Sophomore students may borrow up to $4500 per year

  • Junior and Senior students may borrow up to $5500 per year

  With an unsubsidized loan, you are responsible for paying the interest owed while you are in college as well as after graduation or withdrawal. However, you may defer interest payments while you are attending school; accumulated interest is added to the loan principal when repayment begins. You must be enrolled at a minimum of half-time, but your awarded loan amount is not based on financial need. Interest rates are variable and are adjusted yearly on July 1; the maximum interest rate is 8.25%. Unsubsidized loans require a master promissory note as well as entrance and exit counseling.

  • All-year students may borrow up to $2000 per year

  • Applying for Federal Direct Loans

• Federal Direct Parent PLUS Loan:

  This loan type is for undergraduates only, and allows your parents to borrow up to the total cost of your education, minus any other financial aid you may receive. Your parents' credit standing affects your loan amount; they must complete the Parent PLUS Loan Application and demonstrate credit worthiness. As a student, you must be enrolled at least half-time to qualify for a Parent PLUS Loan. Interest rates are variable and are adjusted yearly on July 1; the maximum interest rate is 8.25%. Repayment of a Parent PLUS loan begins immediately after the loan is fully disbursed.

  Applying for a Federal Direct Parent Plus Loan

• Alternative Loan:

  This loan type involves private lenders and is designed to supplement your overall educational financing strategy. Your alternative loan applications should be provided to the Office of Student Financing, so that Mount Saint Mary’s University can adjust your overall financial awards, if any, based on loan amounts. Terms vary from private lenders, so you and your parents should compare them carefully, including reviewing any fees added to the loan amounts. Students who borrow may be required to have a co-signer. Repayment typically begins six months after graduation, withdrawal, or any time you drop below half-time.

Loan Counseling (formerly Loan Entrance and Exit Counseling)

If you plan to borrow money in order to finance your education, you may be required to complete both Loan Entrance and Exit Counseling sessions at Mount Saint Mary’s University. This is particularly true for first-time Federal loan borrowers. Counseling helps you understand your rights and responsibilities as a borrower.

• Click here to complete your Loan Entrance Counseling now

• Click here to complete your Loan Exit Counseling now

Student Employment Through Federal Work-Study

Depending on your financial need, you may qualify for student employment through a Federal work-study program. Money earned helps pay for your education; you work a set number of hours per week. This award is reserved for undergraduates who live on campus.

For more information on student employment, please click here.