1. Financial Aid Presentation
Open House
April 1, 2017

2. Finalize your Financial Aid Package
Use the Data Retrieval Tool to update your income data on the FAFSA. Unavailable for the foreseeable future.
Review the “Estimated Student Aid Award” and “Your Estimated Remaining Costs After Financial Aid” on page 2 of your award booklet.
The “Compare Your Aid Awards” is a useful tool.
It is not necessary to sign or return your award letter.

3. PA State Grant Program . Commonly referred to as PHEAA Grant.
Open an account on . Select “State
Grant Program” and follow the instructions.
Monitor the status of your state grant.
Announcement of awards will begin in May.
Check s regularly. .

4. State Grant Reciprocity Agreements
Vermont, Maine, Massachusetts, Maine, Ohio and West Virginia
Check with your state grant agency for deadlines and incomplete forms
Maryland, New York and New Jersey DO NOT have reciprocal agreements

5. Federal Direct Loans
Fixed Interest Rate – 3.76% Subsidized Loans and Unsubsidized Loans
1.069% Origination Fee
Delayed Repayment - 6 Month Grace Period After Graduation/Withdrawal
Deferments Available
Loan Interest Rates & Origination Fees are Subject to Congressional Changes

6. Federal Direct Loans Go to www.studentloans.gov
Complete the online Entrance Counseling
Complete the Master Promissory Note (MPN)
Only need to do this once; MPN is a 10 year serial note

7. Direct Loan Annual Limits
Undergraduate Students:
First Year……………………….. $5,500
Second Year…………………….$6,500
After Second Year….…………..$7,500
Borrowing may be subsidized or unsubsidized.
Independent students, graduate students, and SOME dependent students eligible for additional limits.

8. Federal Direct PLUS Loan
Apply at
Cost of Education - Other Aid = Max Borrowing Amount
Fixed Interest Rate 6.31%
4.276% Origination Fee
Repayment Term 10 Years Maximum

9. Federal Direct PLUS Loan
Repayment May Be Immediate or Deferred
Normal Repayment - 60 Days After 2nd Disbursement
In School Deferment Available
Loan Interest Rates & Origination Fees are Subject to Congressional Changes
Apply after May 1, Credit decision expires after 180 days.

10. Private Education Loans
Go to for private/alternative loans
Student will need a credit-worthy cosigner
Carefully compare loans and be aware of repayment terms and conditions

11. Payment Options Marywood University bills on a semester basis
Option 1: Payment in full (total charges less financial aid)
Fall 2017 payments due 8/7/2017
Option 2: 10 monthly installments. $40 fee. First payment due in July. Available through the Cashier’s Office. (Contact them at or at
Note: There is a 2.75% convenience fee for credit card payments.

12. Summer Orientation Attend summer orientation on July 14 – 15
Bring two forms of identification if you are eligible for Federal Work Study and want to sign up for a job
Financial Aid Counselor’s will be available to help with any last minute financing questions

13. Additional Information
Use the Marywood University Financial Aid Office website as a resource for important information.
Start with “Application Process” and choose “New Freshman Students” or “New Transfer Students”
All new students and parents are encouraged to review “Policies” under “Eligibility for Aid”

14. Contact Information
Barbara Schmitt, Director of Financial Aid
Roxanne Seymour, Associate Director of Financial Aid
Tisdale Frederick, Financial Aid Counselor
Phone: (570) or
     toll free 1-TO-MARYWOOD ext. 6225
Financial Aid Web Page:
    

15. Questions??