Types of Aid: Traditional Undergraduate Program
New Merit Awards as of 11/13/08
- Grants and Mount Award
- Institutional Awards and Scholarships
- Loans
- Loan Counseling Requirement
- Student Employment
- Alternative Financing Options
Chalon Academic Excellence: Academic Merit Scholarship designated for the Mount’s top applicants admitted to Chalon. Please see qualifications below.
Amount:
$5,000
Renewable :
Full time status and continue to meet initial qualifications.
Qualifications:
- Be a declared major in History, Poli-Sci, Math, Biology, Chemistry, Bio-Chem.
- Be a new frosh student admitted to the Baccalaureate program.
Doheny Excellence: $5,000 Academic Merit Scholarship designated for students admitted to Doheny. Please see qualifications below.
Amount:
$5,000
Renewable:
Full time status and continue eligible.
Qualifications:
- Be a new frosh student admitted to the Associate program
- Be in the top 5% of the students admitted to the Associate program.
Amounts and Notifications
The Admission Committee will review all candidates for merit awards. For scholarship consideration, no additional application is required. Notification of the awards will be mailed within one month of each deadline. These awards are renewable for four years providing that the recipient maintains an overall competitive GPA at Mount St. Mary's College. Department-specific scholarships require students to remain in their respective majors in order to retain the major specific scholarships.
For more information please call: 310-954-4190
President's Award
Awarded to selected academically talented incoming first-year students, this scholarship ranges from $12,000 to $15,000 per year. Qualifications include high school course load, grade point average, test scores and recommendations. Eligible candidates will have a GPA between 3.45 and 4.0 and test scores between 1200 and 1400 combined SAT (Critical Reading and Math) score. ACT scores will be converted to correspond with SAT scores.
Note: In order to qualify for consideration for the President's Award, applicants can meet one of two deadlines. If you complete your first-year application for admission and send the required documents no later than December 1, you will be notified of your President's Scholarship value in mid-December. If you are not able to make this deadline, you may complete your application file no later than February 1 in order to qualify for President's Award announced in late February.
Carondelet Awards
Awarded to selected academically talented incoming first-year students in the amount of $12,000 per year. Qualifications include high school course load, grade point average, test scores and recommendations. Eligible candidates will have a GPA between 3.2 and 3.7 GPA and test scores between 1000 and 1100 combined SAT (Math and Critical Reading) score. ACT scores will be converted to correspond with SAT scores.
Provost Award
Awarded to selected incoming first-year students in the amount of $11,000 per year. Recipients must meet the required GPA of between 2.8 and 3.5 and a combined SAT score of 900 to 1000 (Math and Critical Reading). ACT scores will be converted to correspond with SAT scores.
Note: Full-tuition awards are offered to those with exceptional academic merit.
Grants and Mount Award
A grant is considered "free" money and DO NOT have to be repaid.
Cal Grant
Cal Grant A and B awards are available for up to four years for students who are enrolled in an undergraduate program. Students must have an eligible GPA, financial need, and be a resident of California. Recipients must be enrolled in 6 units or more. For details visit California Student Aid Commission at www.csac.ca.gov.
Pell Grant
Pell Grants are Federal grants and are based solely on demonstrated financial need to every undergraduate student who qualifies. The FAFSA information will determine eligibility and the amount of the award.
SEOG Grant
Reserved for Traditional Undergraduate student who are Pell eligible. Recipients must be enrolled in 12 units or more.
Mount Award
Reserved for traditional undergraduate students with financial need. Recipients must be enrolled in 12 units or more. These funds DO NOT have to be repaid. This award is funded by MSMC College and partially funded by donors of the college. If a student receives an Institutional Grant, the name of the award may change to reflect the name of the actual scholarship from the donor.
Institutional Awards and Scholarships
When you apply for admissions, you may be considered for the following talent and achievement awards. Please Note: Students must be enrolled in 12 or more units to be eligible.
Alumnae Awards
Awards valued at $1000 per year are made to all students who are daughters of alumnae. For more information please call (213) 477-2726 and ask about the Legacy Award.
Dean's Transfer Award (for transfer students)
Awarded to academically talented transfer students who plan to study in any academic program. This scholarship ranges from $8,000 to $15,000 per year and is renewable up to three years for the first bachelor's degree. Qualifications include a minimum of 24 transferable units with an earned GPA of at least 3.0. In order to qualify for consideration, applicants must submit all required documentation no later than March 15. Notifications of awards will be mailed in April.
Music Awards
Awards are made to full-time students who are enrolled as Music majors and who demonstrate exceptional talent in music. Award amounts vary and are based on financial need and merit. Contact the chairperson of the Music Department for further details. For more information contact Sister Teresita Espinosa at (310) 954-4266 or tespinosa@msmc.la.edu.
Outside Scholarships
These funds are not associated with MSMC but are awarded to the student directly by an outside organization and must be coordinated with the student’s award package. In most cases, these scholarships will be used to offset loans and work-study, but in rare cases, may affect the amount of grant the student receives. Please make sure all checks are taken/mailed directly to the Office of Student Financing so the scholarships may be credited to the student’s account. Outside Scholarship funds will not be credited until the funds arrive from the donor. Please click here for a listing of scholarship websites.
For more information please call: 310-954-4190
Loans
Loans are funds that students and/or parents borrow and must repay. Most loans are repaid after completion of studies, but some loans require repayment to begin shortly after the loan funds have been sent to the College.
Stafford Loans
Federal Stafford loans are the most common loans for undergraduate and graduate students. Stafford loans must be repaid with interest. There are two types of Stafford loans: subsidized and unsubsidized.
Subsidized Stafford Loan: The federal government pays the interest while you are in college.
- Freshman: $3500 per year, max.
- Sophomore: $4500 per year, max.
- Junior & Senior: $5500 per year, max.
- Eligibility: Minimum half-time enrollment; Based on financial need.
- Requirements: FAFSA, Master Promissory Note, Entrance Counseling, and Exit Counseling.
- Interest: The interest rate is variable and adjusted each year on July 1, but cannot exceed 8.25%.
- Repayment: The principal balance is deferred until six months after graduating, withdrawing, or dropping below half-time. The Federal Government pays the interest on these loans while you are in school, and during the grace and deferment periods.
Unsubsidized Stafford Loan: The student is responsible for paying all the interest on the loan, during and after college.
- Freshman & Sophomore: $6000
- Junior & Senior: $7000
- Eligibility: Minimum half-time enrollment; not based on financial need.
- Requirements: FAFSA, Master Promissory Note, Entrance Counseling, and Exit Counseling.
- Interest: The interest rate is variable and adjusted each year on July 1, but cannot exceed 8.25%.
- Repayment: The student is responsible for all of the interest on the loan, but you can defer interest payments while you are in school. If you do, the accumulated interest will be added to the loan principal when repayment starts.
Federal Parent PLUS Loan
Federal Parent PLUS Loans enable your parents or stepparents to borrow up to the total cost of your education, minus any other aid you may receive. These loans are for undergraduate students only. Federal Parent PLUS loans are based on credit.
- Eligibility: These loans are available to parents who have satisfactory credit histories and the student carries at least halt-time course load. The amount borrowed cannot exceed the cost of education.
- Requirements: Parent PLUS Loan Application and Credit Worthiness.
- Interest: The interest rate is variable and adjusted each year on July 1, with a cap of 9 percent. Interest accrues from the date loan funds are first disbursed until the loan is repaid in full.
- Repayment: Begins immediately after the loan is fully disbursed.
Note: The lender, not MSMC, charges a three percent origination fee from the loan total of the subsidized, unsubsidized and Parent PLUS loans. The amount borrowed and stated on your financial aid award will be decreased by 3% when it is disbursed to your account in the Business Office.
Alternative Loans
Alternative Loans are private loans to supplement educational financing. Note: Applications should be returned to the Office of Student Financing for further processing of the loan.
- Eligibility: Most alternative loans require a credit-worthy applicant and/or co-signer. This includes a good credit history and a satisfactory income-to-debt ratio.
- Requirement: Alternative Loan Application. Please submit applications to the Office of Student Financing.
- Interest: Most loans have variable interest rates. Interest rates may be determined by the applicant and/or co-signers credit history.
- Fees: Most alternative loans have fees that are added to the loan amount requested.
- Repayment: Repayment begins 6 months after the student graduates, withdraws, or drops below half-time from school.
Note: The terms of these loans differ from lenders, and the student should compare the information to determine which loan best suits their needs. If an undergraduate borrows loans, a co-signer may be required. If the student applies for an alternative loan, a revised award letter will be sent to the student as notification that the loan application has been sent to the lender. However, this does not implicate the loan has been guaranteed. The lender will notify the student directly.
Loan Entrance and Exit Counseling
Loan Entrance: Federal Requirement for First Time Loan Borrowers at MSMC: If you are a first time Stafford loan borrower at Mount St. Mary’s College, you must complete the Loan Entrance Counseling requirement. This is required by federal law to fully understand your rights and responsibilities as a student borrower. Traditional undergraduate students will be required to attend a 45 minute loan entrance workshop. Dates and times will be announced at a later date. A.D.N, Weekend College, and Graduate students may fulfill this requirement via internet at www.edfund.org.
Loan Exit: Federal Requirement for Students Leaving MSMC:
Upon exiting Mount St. Mary's College, you must complete the Loan Exit Counseling requirement. This is required by federal law to fully accept legal and financial responsibilities that last until the loan is repaid. Traditional undergraduates students will be required to attend a 45 minute loan exit workshop. Dates and time will be announced at a later date. A.D.N, Weekend College, and Graduate students may fulfill this requirement at www.edfund.org.
Student Employment (Federal Work-Study)
These funds are earned during the academic year at Mount St. Mary's College. This award is reserved for students in the Traditional Undergraduate Program who live on campus. Students have the opportunity to apply for jobs on campus and work a set number of hours per week. Click here for more information on Student Employment.
Note: Students have the option to apply their paycheck towards their bill or they may choose to keep their paycheck to help pay for personal expenses. If the student decides to keep their paycheck, the student is responsible to pay the balance on their account.