Financial Aid

Many Marygrove graduate students take advantage of one or more of three forms of financial assistance:

• Externally funded scholarships
• Grants
• Loans

The funds for this financial assistance come from federal, state, and private sources. In addition, some graduate students may be eligible for part-time federal or state funded employment if they meet specific criteria.

APPLICATION PROCEDURES FOR FINANCIAL AID AT MARYGROVE
The student must file “The Free Application for Federal Student Aid” (FAFSA) each year to apply for federal and state aid (including loans). The FAFSA is a need analysis document and is the basis on which Marygrove College and other organizations determine eligibility for assistance. Once the FAFSA has been completed and received by the Federal processor, the student will be mailed a Student Aid Report (SAR). The SAR is a summary of the FAFSA. The SAR will display the “Expected Family Contribution (EFC) amount.” The EFC is used to determine the student’s need. The Cost of Education minus your EFC equals your need. 

Using Marygrove College’s school code when applying for financial aid will not require submitting the SAR to the college. Rather, Marygrove will receive the information electronically as an

Institutional Student Information Record (ISIR). From the ISIR, the Financial Aid staff will establish a file for the student and make a determination as to whether or not additional documentation or information is required under federal, state or institutional guidelines. Additional information may consist of, but is not limited to, federal tax information, W-2 forms, proof of non-taxable income, asset information, proof of citizenship, a verification worksheet and family size and/or number of other family members attending college. 

The FAFSA may be filed by completing an on-line form at the website of www.fafsa.ed.gov.The U.S. Department of Education has assigned Marygrove College a school code of #002284. 

Applicants should indicate Marygrove College as the first school of choice to ensure State of Michigan Tuition Grant consideration for Michigan residents. Marygrove’s Office of Financial Aid is ready to advise anyone seeking information or assistance. 

DEADLINES FOR FINANCIAL AID APPLICATIONS
The U.S. Department of Education makes the FAFSA available each January to cover the subsequent academic year - Fall, Winter and Summer semesters. To ensure maximum financial aid eligibility, the student should file the FAFSA by the priority deadline of March 1, regardless of the semester in which the student plans to enroll. 

FULL, THREE-QUARTER OR HALF-TIME STATUS ELIGIBILITY
To be eligible for financial aid, the student must be registered for classes as a full-time, three-quarter time, or half-time student. With the exception of the Griot and Sage programs, Marygrove College defines full-time graduate status as carrying six credit hours per semester. Full-time status for the Griot and Sage program is nine credit hours per semester. Three-quarter time status is defined as carrying four credit hours per semester. Half-time graduate level status means carrying three credit hours per semester. The exceptions are the Griot and Sage programs where half-time status is our credit hours per semester. Financial Aid assistance is not available for those students with less than half-time status. 

To remain eligible for financial aid assistance the student must remain in good standing and continue to meet the College’s criteria for satisfactory academic progress. 

AVAILABLE DISCOUNTS

Family Discounts

Tuition discounts are available when several members of an immediate family (i.e., parents and children) are registered at Marygrove College. Staff Education Assistance Benefits All permanent full- and part-time employees of the College are eligible for education assistance benefits. Family members (legal dependents) of employees are eligible for a tuition discount. For more complete information regarding the requirements for these benefits‚ see the Marygrove College Employee Handbook.

Senior Citizen Grant
Senior citizens aged 65 or older are eligible for a 50 percent reduction in tuition costs for on-campus graduate courses. When applying for senior citizen grants, students must provide proof of age.

TYPES OF FINANCIAL AID ASSISTANCE AVAILABLE

FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP) - Subsidized and Unsubsidized

The FFELP is authorized under Title IV, Part B of the Higher Education Act of 1965, as amended.These low-interest loans are available from participating banks and credit unions. There are two types of FFELP loans, also known as Federal Stafford Loans. The Subsidized Federal Stafford Loan is based on need. The government pays the lender the interest due on the subsidized loan while the student is still in school and during grace and deferment periods. The Unsubsidized Federal Stafford Loan is not based on need. The student is responsible for all interest that accrues on the unsubsidized loan. All characteristics of the FFELP loan program, such as loan amounts, limits, use and disbursement of loan monies, etc., are governed by federal regulations.

Michigan Tuition Grants
These grants are awarded to Michigan residents attending private colleges, either full- or part-time. The awards can be as high as $2,000 per year. To be eligible you must be a Michigan resident, have demonstrated financial need and list Marygrove College as the first college choice on the FAFSA. 

College Work-Study
This program provides part-time, on-campus employment for full-time or part-time graduate students. Hourly pay rates begin at minimum wage and are based on skills and experience. Awards are based on funds available. 

Graduate Student Assistantships
There are a limited number of graduate assistantships to those graduate students who qualify. Typically, assistantships involve working for a faculty member in a research capacity, teaching assistant, and/or on an educational project. For specific inquiries see the program coordinator or the Office of the Dean of Graduate Studies. Students may also send resumes to the Job Development Coordinator in Academic Advising and Career Services.

Other Sources of Financial Aid
Veteran’s Benefits are available to students from the Veteran’s Administration. These benefits vary depending on the student’s Chapter of Eligibility. Only Chapter 31 will be included in employer reimbursement. For more information please contact the U.S. Department of Veteran Affairs at 888-442-4551.

Employer Education Programs
Students are encouraged to contact the educational representative at their place of employment to determine the educational benefits available.

Alternative Loans
This program provides student loans for undergraduate and graduate students who are eligible based on credit-worthiness.

PAYMENT PLAN OPTIONS
Students must pay for the entire cost of the semester by the end of the first week of classes. However, Marygrove offers a payment option that can enable you to spread payments out over the course of a semester. By offering a payment plan, Marygrove provides you a way to afford a private education. Upon registering for each term, you must enter a Tuition Management System (TMS) payment plan for any tuition or fees not covered by financial aid.

These payment options involve additional charges and fees. TMS’ interest-free monthly payment plan is an innovative way to help you pay for your tuition. It allows you to spread your educational expenses over smaller monthly installments. These installments are paid over the course of a given semester. You may call TMS at 1-800-356-8329 or visit www.afford.com to enroll. The Bursar or Collections Coordinator can also set-up a TMS payment plan.

SPONSORED BILLING/THIRD PARTY BILLING OPTIONS
Many employers will pay for part of an employee’s tuition to help educate and retain their workforce.

In order to have Marygrove College bill your employer for your tuition and/or fees, you must provide a voucher or other written documentation from your employer that states that Marygrove College can invoice the employer and that the employer will pay. You will remain liable for all tuition and fees not covered by your employer and must enter into a payment agreement with TMS for this portion Documentation must be provided at the time of registration each term to the Business Office for your registration to be completed.

This documentation must include a description of what is covered by your company’s employee tuition assistance program in terms of fees, books and supplies, and tuition. If your employer is under a voucher system, the voucher must be submitted at the time of registration each term to the Business Office. It is critical to plan ahead and have all paper work ready before you register.

Veteran’s Benefits
Veteran’s Benefits are available to students from the Veteran’s Administration. These benefits vary depending on the student’s Chapter of Eligibility. Only Chapter 31 will be included in employer reimbursement. For more information please contact the U.S. Department of Veteran Affairs at 888-442 4551.

Payroll Deduction
Any employee of Marygrove College may arrange to have deductions taken from each paycheck to pay off a semester’s charges. All balances must be paid in full before the end of the semester.

METHODS OF PAYMENT
Payments may be charged using a MasterCard and/or Visa. Checks should be made payable to Marygrove College. All tuition and fees are payable in U.S. currency.

Change of Address
You need to inform the Enrollment Center Registrar’s Office of your change of address if you move. Billings returned to Marygrove College because of an address change will not defer the responsibility of making payments when they are due.

Penalties for Failure to Keep Account Current
If you fail to meet your financial payment obligations, you will be required to withdraw from the College during the semester. Semester grades will not be entered into your permanent record if you do not fulfill the regular obligations of the payment schedule. You are responsible for the total balance, even if you subsequently withdraw from courses, in accordance with the refund policy described below. If you are in debt to the College at the end of any term, you will not be able to receive an official transcript or to receive a diploma until the indebtedness has been discharged. If you have an unpaid balance, you will not be allowed to register for a subsequent semester.

Late Registration Fee
If you do not complete registration—including the payment of fees or arrangement for payment—on the days designated for registration in the academic calendar, you will be assessed the late registration fee of $100.

REFUND POLICIES
Students who cannot complete a course, or cannot attend any courses for which registered, must withdraw (drop) officially from the class or classes. The student can obtain a withdrawal form from the Registrar’s Office. The date on which the Registrar’s Office receives and signs the withdrawal request will be the official date of withdrawal and will determine the amount of any adjustment of tuition and fees after classes have begun. All refunds will first be applied to any debts that the student may have with the College. The Financial Services Department will use the following table to determine your refundable tuition and fees:

Withdrawal during the Fall and Winter Terms

10-to 15-Week Classes
First Week 100%
Second Week 50%
Third Week 25%
Fourth Week or after 0%

5-to 9-Week Classes
First Week 80%
Second Week 35%
Third Week 0%
Fourth Week 0%

1-to 4-Week Class
First Week 75%
Second Week 25%
Third Week 0%
Fourth Week or after 0%

Withdrawal during the Summer Term

10-to 15-Week Classes

After First Session 100%
After Second Session 50%
After Third Session 25%
After Fourth Session 0%

5-to 9-Week Classes
After First Session 80%
After Second Session 35%
After Third Session 0%
After Fourth Session 0%

1-to 4-Week Classes
After First Session 75%
After Second Session 25%
After Third Session 0%
After Fourth Session 0%

Refunds are calculated on the basis of the number of class sessions scheduled to be completed at the time of the withdrawal, not the number of class sessions attended by the student. If the student does not officially drop his/her classes within the specified add/drop period or withdraw before the designated deadlines (see Academic Calendar), the student is will receive a mark of “X” for the classes, and will be responsible for full tuition and fees for these courses.

FINANCIAL AID AWARDS: TITLE IV FUNDS/INSTITUTIONAL REFUND POLICY
The term “Title IV Funds” refers to the federal financial aid programs authorized under the Higher Education Act of 1965 (as amended) and includes the following programs: unsubsidized FFEL loans, subsidized FFEL loans, Federal Perkins loans, FFEL PLUS loans, Federal Pell Grants, Federal SEOG. When a student withdraws or is expelled from the college, if the student received federal financial aid, the Financial Aid Office must calculate how much aid the student is entitled to keep. This policy applies to students who withdraw or are expelled. Refunds for these students are determined according to the following policy:

A student’s withdrawal date is: the date the student began the institution’s withdrawal process or officially notified the institution of intent to withdraw; or the midpoint of the period for a student who leaves without notifying the institution; or the student’s last date of attendance at a documented academically-related activity. Refunds on all charges including tuition, room and board, and fees will be prorated based on the college policy. Title IV aid and all other aid is earned in a prorated manner on a per diem basis up to the 60% point in the semester. Title IV aid and all other aid is viewed as 100% earned after that point in time. A copy of the worksheet used for this calculation can be requested from the Financial Aid Office. In accordance with federal regulations, when financial aid is involved, refunds are allocated in the following order:

Unsubsidized FFEL loans, subsidized FFEL loans, Federal Perkins loans, FFEL PLUS loans, Federal Pell Grants, Federal SEOG, other Federal Sources of aid, other state, private and institutional aid, and finally the student. The student’s responsibilities in regard to the return of Title IV funds include returning to the Title IV programs any funds that were disbursed directly to the student and which the student was determined to be ineligible for (via the Return of Title IV Funds calculation) within 5 days after notice from the college of an overpayment of a grant.

Private, State of Michigan, and Marygrove College funds are not subject to the same pro-ration formula and these funds will be adjusted based on the amount of charges the student owes after the return of Title IV funds calculation has been completed. For full policy disclosure, please visit the Financial Aid Office.