Types of Aid
Traditional Undergraduate Students
Welcome to Mount Saint Mary’s University's Student Financing pages, where you can learn about financial aid options available to new, first-year students as well as undergraduates and transfer students.
Mount Saint Mary’s University believes in helping every student achieve her dream of attending a quality private institution. Because college is one of your biggest investments, The Mount's Student Financing works with each student to help her achieve the maximum amount of financial aid possible, to help defray the short- and long-term costs of a top-tier California private education.
We are here to help.
Questions? Call us at 310.954.4190 and we'll be happy to discuss your financial strategy for attending Mount Saint Mary’s University.
Click here if you would like to estimate what your costs will be.
Choose from the following sections:
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Academic Scholarships+-
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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.
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Presidents Award:
The Mount Saint Mary’s University Presidents Award is given to academically talented incoming first-year students. Scholarship awards range from $16,000 to $18,000 per year.
To qualify for a Presidents Award, you will have a GPA between 3.45 and 4.0 and test scores between 1200 and 1400 combined SAT (Critical Reading and Math). ACT scores are converted to correspond to SAT scores. Your high school course load is also a consideration for this award.
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Carondelet Award:
The Mount Saint Mary’s University Carondelet Award is given to academically talented incoming first-year students. Scholarship awards are $15,000 per year.
To qualify for a Carondelet Award, you will have a GPA between 3.2 and 3.7 and test scores between 1000 and 1100 combined SAT (Critical Reading and Math). ACT scores are converted to correspond to SAT scores.
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Provost Award:
The Mount Saint Mary’s University Provost Award is given to selected incoming first-year students. Scholarship awards are $13,000 per year.
To qualify for a Provost Award, you will have a GPA between 2.8 and 3.5 and a combined SAT score of 900 to 1000 (Critical Reading and Math). ACT scores are converted to correspond with SAT scores.
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Federal and State Grants+-
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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:
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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.
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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.
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SEOG Grant:
SEOG Grants are reserved for eligible undergraduate students who are enrolled in a minimum of 12 units.
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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.
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Institutional Scholarships+-
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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.
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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.
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Dean's Transfer Award: If you are an academically talented student who is transferring to Mount Saint Mary’s University, you may be eligible for a Dean's Transfer Award, ranging from $8,000 to $16,000 per year (renewable for up to three years). To qualify, you will transfer with a minimum of 24 units and have a minimum 3.0 GPA. Application deadline for the Dean's Transfer Award is March 15 prior to the Fall semester of any academic year, and award notifications occur in April.
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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 Sister Therese Fassnacht at 310.954.4266 or click here to email.
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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.
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Loans+-
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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.
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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.
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Freshman students may borrow up to $3500 per year
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Sophomore students may borrow up to $4500 per year
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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.
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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
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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.
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Loans Counseling+-
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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.
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Work Study+-
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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.
