University of Mary School of Accelerated and Distance Education FAQ's and Helpful Tips for Financial Assistance
If you are enrolled in an on-site or an online distance education program at the University of Mary, you may be eligible to receive financial assistance for tuition, fees, books and other educational expenses. To be eligible for financial assistance, you must follow an academic schedule based on predetermined terms and be enrolled on at least a half-time basis.
You, the student, are responsible for the payment of your tuition and fees. The University of Mary reserves the right to withhold transcripts and diplomas until all financial obligations have been met or satisfactory arrangements have been made in writing with the director of Student Accounts.
What is the process to apply for aid?
1. Apply for your PIN today at www.pin.ed.gov. This personal identification number is your key to the online financial aid process.
2. You must complete a Free Application for Federal Student Aid (FAFSA) ANNUALLY. The application can be completed online at www.fafsa.ed.gov. The federal school code for the University of Mary is 002992. If you complete the FAFSA after the semester has ended, you may not qualify for federal financial aid and you will be required to make immediate personal payment.
3. Submit your application for processing as noted in the FAFSA directions. A report will be sent to the University of Mary. This process can take four to six weeks.
4. The Financial Assistance Office will review your information and may request some additional documentation from you. Please respond in a timely manner to avoid delay in the processing of your aid.
5. Once your file is complete, an award notice will be mailed to you. You will need to RESPOND WITHIN TWO WEEKS!
6. Student loan borrowers MUST complete a loan entrance counseling session before loans will be processed. You can access the counseling session online at www.mapping-your-future.org.
7. You will be required to complete and return a Master Promissory Note, which your lender will contact you about.
8. If you receive additional financial aid resources not listed on your award letter, you need to notify the Financial Assistance Office immediately. If you receive outside scholarships and/or resources after your award letter is issued, your awards may need to be adjusted.
9. You will need to complete a new FAFSA for each year!
What happens if I withdraw or my enrollment plans change?
• If you decide not to attend classes, you will need to contact your advisor immediately to complete the necessary forms. Refunds are based on the official dates on the forms and the University of Mary Add/Drop Policy. If you have received financial assistance and withdraw from any course, it may affect your eligibility. Funds already received may need to be returned to the appropriate issuing agency.
• Federal regulations require that you be enrolled at least half-time to be eligible for Stafford Loan funding. Dropping courses can affect your enrollment status and the aid that you have been awarded.
• You cannot receive financial aid for courses not attended.
What type of aid might be available?
• Federal Pell Grant
• Federal Subsidized Stafford and/or Federal Unsubsidized Stafford Loans
• Other campus-based funding (i.e., Supplemental Grants, Perkins Loans)
• Alternative education loans
• Institutional aid is not available in the School of Accelerated and Distance Education
When can I expect my financial aid to be disbursed?
NO EXCEPTIONS: Disbursements of financial aid are credited to your account on a class-by-class basis per term. All financial assistance is fully credited directly to your university student account. Your account must be settled each term before you will be allowed to register for the next term in your program.
When can I expect a refund on my excess financial aid to be issued?
NO EXCEPTIONS: Refunds are not issued to students until all account charges are paid in full. This will most likely extend until the final course in your term.
Example: An undergraduate student enrolls for nine credits in the semester with total charges of $3,285 and accepts aid in the amount of $3,600. The tuition and fees are paid off as follows:
| Total Cost |
$3,285 |
| Disbursement 1 applied during the first five-week class |
(1,200) |
| Disbursement 2 applied during the second five-week class |
(1,200) |
| Disbursement 3 applied during the third five-week class |
(1,200) |
| Refund issued only after third disbursement of aid |
$315 |
You should plan for your out-of-pocket expenses (books, travel, misc. expenses, supplies, room and board, etc. ...) accordingly, as this disbursement policy will not be waived.
What is the "disbursement date"?
The disbursement date is the date the loan and grant funds arrive at the university. It will take up to three days to complete the processes required to transfer the funds to your student account. Refunds are mailed within 14 days of the credit appearing on your account. Again, refunds will only be issued once tuition and fees are paid in full.
Could my financial aid awards ever change?
YES! Your disbursed awards will be reduced or cancelled or you may be required to repay refunds that you have already received if you:
• Withdraw or drop below the enrollment status minimum required for financial aid eligibility.
• Fail to meet the stated minimum standards of satisfactory academic progress as outlined in the University of Mary Bulletin.
• Exceed your financial aid eligibility when other financial resources are received, such as scholarships, grants or other educational benefits.
Policies and procedures governing financial assistance programs are subject to change at any time without prior notification or publication due to changes in the university, state and/or federal guidelines and regulations.
Please contact Student Accounts to make personal payment on your charges and/or to report third-party reimbursement information. That office can be contacted at (800) 408-6279, ext. 8143/355-8143 or at jmueller@umary.edu. Any questions regarding financial assistance should be directed to Brenda at (800) 408-6279, ext. 8244/355-8244, or via e-mail at brendaz@umary.edu.
