frequently asked questions
How is Financial Need Determined?
Saint Mary's College assumes that you and your family will make available from income and assets a reasonable contribution toward your educational expenses. Contrary to popular belief, annual income is not the only factor considered. Debts and assets, number in college and unusual circumstances are also taken into account. The information you provide (See How To Apply) will be analyzed to determine the amount you and your family can provide. The difference between the cost of attending and your family's contribution is your financial need.
When Will I Hear About My Financial Aid?
You will be informed by letter of our decision by the following dates if you applied on time and submitted all required documents.
New Students: early April
Returning Students: mid June
Late Applicants: You will be considered for financial aid only if funds are available. Students are notified on a rolling basis as applications are completed.
What Do I Do To Accept The Offer of Aid?
You pay your Enrollment Commitment fee by May 1 (or the specified date on your admissions letter) and return any documents for awards you are accepting by the date indicated on our Award Notification Letter. Reasonable and timely requests for extension of the acceptance date will be honored whenever possible.
How Can I Appeal My Award?
Write a letter to the Financial Aid Office as soon as possible explaining that you are appealing the award offer, give the reason for the appeal, and provide as much information as possible regarding the change in your family's financial circumstances. You must include a copy of your parent's Federal tax return. When we receive your letter, your case will be reviewed, and you will be informed in writing of the decision.
How Will Outside Aid Affect My Award?
Federal law and institutional policy require that an adjustment be made to a student's aid package if the combination of all funds received exceeds financial need. If you receive an outside scholarship or grant, you will need to inform the Financial Aid Office of the amount. If an adjustment is needed in your package, we will notify you in writing.
Do I Have To Renew Aid Each Year?
YES! All need-based financial assistance provided through the Financial Aid Office requires reapplication annually. Renewal is also dependent upon satisfactory academic progress and continued financial need.
