Students may defer payment of that portion of a semester's expenses that will be covered by approved financial aid awards, such as Federal Pell Grants, Federal SEOG, Federal Perkins Loans, Marywood Scholarships and Grants, PHEAA Grants, and other state grants. Further information is available on the Marywood University Financial Aid website.
Students who intend to pay for their educational expenses with a student loan may defer payment of the portion of expenses to be covered by the loan until the loan is approved. Students should apply for their loans by the end of July for the fall semester and by the end of November for the spring semester to insure that loan funds will be available at the start of the semester.
Effective July 1, 2010, all borrowers are required to go to the Department of Education website to complete the Loan Entrance Interview and Master Promissory Note (MPN) by the above dates. Federal Direct Loans and PLUS loans (both parent loans and graduate PLUS loans) will no longer be processed through American Educational Services (AES/PHEAA). Applicants may need to complete additional documents with the Financial Aid Office in order to complete the loan process.
To begin the loan process, borrowers must take the following steps: (1) Go to www.studentloans.gov and sign in using your Federal PIN number.(2) Complete Direct Loan Entrance Counseling. This process is required by law before you can receive a loan. (3) Complete a Direct Loan Electronic Master Promissory Note (MPN). You will need reference information for two people you have known for at least three years (name, address, telephone number, relationship to you). The first reference should be a parent or legal guardian. This process must be completed in a single session. (The Marywood University Federal Direct Loan Code is G03296.)
This site also allows Direct PLUS Loan borrowers (both parents and graduate/professional students) to complete a request for a Direct PLUS Loan and initiate a credit check online.
Upon Certification and approval, funds will be disbursed to Marywood University directly from the Department of Education and credited to the students' accounts.
If a student fails to complete the loan process, or if a student does not pay the University when a loan is rejected, the University may also take any of the actions listed in the University policy on financial delinquency.
Refunds of financial aid/loan funds will be issued when a credit balance exists on a student's account. Students should plan to arrive on campus with enough personal money to make purchases, such as books, without depending upon financial aid funds.
The Nelnet Business Soultions payment plan is no longer available.
The Official Payments Payment Plan is available for electronic payments from checking, savings and credit card accounts.
Payment of tuition may be deferred if the student has provided a completed Application for Employer Deferment of Tuition Payment form, signed by the student's employer. Students are required to pay all fees and any portion of tuition not covered by their employer at the Cashier's Office by the semester due dates or at registration. The student is responsible for any tuition not paid by the employer within the prescribed period. If the student or employer does not make scheduled payments on time, the University reserves the right to refuse to offer this payment plan to the student for subsequent semesters.
Marywood University will no longer accept direct credit card payments for tuition, fees, room and board. Credit card payments may be made through the Official Payments system. (PLEASE NOTE: Credit card usage is limited to MasterCard, Discover, and American Express. There will be a convenience fee of 2.75% added to each credit card payment when using this service. This fee is not associated with or passed on to Marywood University.