Graduate Students

How Financial Aid Works
Types of Assistance
How to Apply for or Renew Your Financial Aid
Keeping Your Award
How to Appeal
Return of Title IV Funds and Repayments
Cost of Attendance

How Financial Aid Works

The theory underlying the financial aid system is that parents and students contribute to the cost of college attendance to the extent they are able. If they are unable to contribute the entire amount, financial aid is available to meet the remaining cost.

The basic formula to determine financial aid eligibility or need is:

Cost of Attendance
- Expected Family Contribution
________________________
= Financial Need

It is important to keep in mind that students from families of all income levels can demonstrate financial need based upon their particular circumstances. Most students who apply are eligible.

Types of Assistance

How you pay for graduate school is completely up to you. We can provide you with as much information as possible, so you can make an informed decision. You have a few options to consider.

As a graduate student, you can apply for an assistantship when you apply for admission to an academic program. Contact the appropriate school for detailed information.

You may rely on funding from the Federal Stafford Loan to finance your education. Don't worry most graduate and professional students do! In order to be eligible for this aid, you must be enrolled at least half time (four or more credit hours per semester). Effective July 1, 2012, Federal Stafford Loans at the graduate level are unsubsidized (interest accrues while you are in school).

Unsubsidized Stafford Loans are non-need based and may be offered up to a maximum of $20,500 per academic year.

Limited grant funding may be available in the state's Tuition Equalization Grant (TEG) program. Awards are limited to Texas residents (as defined by the state of Texas) who are enrolled and charged for nine credit hours. Funds are awarded on a first-come, first-served basis, using the date the FAFSA was filed. Maximum awards are $3,000 per academic year.

Students are encouraged to pursue all possibilities for scholarships, grants, and federal loan programs before borrowing from an alternative loan program. If additional educational loans are needed, make arrangements early to apply. Below are additional federal sponsored, state and private educational loans borrowed by St. Mary's students. We encourage all students to research and evaluate the information provided with any loan program.

Federal Direct Graduate PLUS Loan is available to creditworthy graduate/professional students who want to borrow a portion or all of the annual cost of education minus other aid offered. Repayment is generally set at small payments on a 10-year plan and begins when the student graduates or falls below half-time status. This federal loan is offered at a fixed interest rate of 8.5 percent. To begin the Graduate PLUS loan application, complete and return the Application for Parent/Graduate Loan to the Office of Financial Assistance. Visit the forms page, and click Forms for Download.

State Loan Program

Texas Higher Education Coordinating Board College Access Loan (CAL)
1-800-242-3062

Private Loan Programs

Citibank CitiAssist Student Loan
1-800-967-2400

Discover Financial Services Certified Private Student Loan
1-877-728-3030

Sallie Mae Smart Option Student Loan
1-888-272-4665

Wells Fargo Collegiate Student Loan
1-800-658-3567

How to Apply or Renew Your Financial Aid

Renewing Your Financial Aid

Mark your calendar. Set a reminder in your phone. Stick a post-it on your fridge.

We recommend you complete the FAFSA by February 15 in order to meet the March 31 priority deadline.

Renewed financial aid packages will be based on the date your FAFSA results were received, your family's financial situation and your academic performance (from the previous academic year). Renewed financial aid packages will be available electronically during the summer, after grades are finalized.

If selected for Federal Verification, you will need to complete an extra step in order to receive aid. You may be selected each time you complete a FAFSA, so, be sure to look on your Gateway account or your Student Aid Report to ensure you do not need to complete this process. If selected for the Federal Verification process, you will not receive funds until you have submitted the necessary information. Learn more about the Federal Verification process.

Applying for Financial Aid

Applying for Financial Assistance is simple:

Complete the Free Application for Federal Student Aid (FAFSA) , and list St. Mary's University (code 003623).

If you complete the FAFSA online, you must register to receive a PIN, which can be used to electronically sign your FAFSA, or you can print out, sign and mail the signature page to the processing agency. If you register for a PIN, both you and your parent must complete the signature process electronically. About three days after submitting the FAFSA, you'll receive a Student Aid Report (SAR). It summarizes the information you reported on the FAFSA.

Though you have completed the FAFSA, the process of getting financial assistance is not yet complete. In order to secure financial assistance, you may selected to complete the Federal Verification process. Learn more about the Federal Verification process.

Financial aid applications received by March 31 will receive priority. To meet this deadline, we recommend you submit the FAFSA no later than February 15.

Questions? Contact the Office of Financial Assistance at (210) 436-3141, (800) 367-7868 or finaid@stmarytx.edu.

Satisfactory Academic Requirements

That's how you reach a goal. We know you're working hard toward an important milestone - a degree from St. Mary's University. And we want to help you achieve this goal.

The Higher Education Act of 1965, as amended by Congress, requires that institutions of higher education establish and monitor the academic progress of students who receive federal financial aid. Our institution has established the following minimum standard and practices for Satisfactory Academic Progress (SAP), allowing students to continue receiving financial aid. At the end of each semester, the Office of Financial Assistance reviews each student's progress based on the completion of a Qualitative Standard and a Quantitative Standard which is defined below:

The Qualitative Standard for SAP requires after the first academic year of attendance at St. Mary's, a graduate student must have a cumulative B (3.0 or better) average or its equivalent or have academic standing at that point in the program that is consistent with the university's requirement for graduation.

The Quantitative Standard for SAP, also referred as the Pace of Progression, considers the number of credit hours a student successfully completes, in comparison to the number of credit hours attempted. A full-time graduate students at St. Mary's is expected to complete 67 percent of all hours attempted with a minimum 9 hours completed each semester (see chart below). Remember, repeat courses or those a student receives a grade of incomplete (I) will not count against a student's GPA, but will be factored into his/her completion rate.

Graduate Students	Year 1	Year 2	Year 3
Hours Required	18	36	48
Cumulative GPA	3.0	3.0	3.0

Ph.D. Students	Year 1	Year 2	Year 3	Year 4
Hours Required	18	36	56	78
Cumulative GPA	3.0	3.0	3.0	3.0

In addition to the Qualitative and Quantitative Standards, to be eligible for financial aid, a student must not exceed 150% of the required program hours to graduate from any one degree program. A student who exceeds the maximum hours is ineligible for financial aid. For example, a student enrolled in a program requiring 36 hours to graduate may not attempt more than 54 hours and still receive financial aid.

The university awards federal funds annually to eligible students and at the completion of each semester, the Office of Financial Assistance reviews each student's academic progress according to the following policy. A student meeting ALL the above standards, receives a SAP status of GOOD STANDING GRADUATE and will continue financial aid eligibility.

If a student fails to meet one or more of the above standards, he/she is placed on one of three financial aid SAP statues, as described below and receives a notification from the Office of Financial Assistance.

SAP Warning: A student not meeting SAP will be designated under a SAP WARNING status for one semester, which means a student is being warned that he/she is not meeting the SAP eligibility and has one semester to meet the eligiblity requirement before being placed on PROBATION GRADUATE. During this semester, a student will continue to receive financial aid. Warning status does not need to be appealed because a student is still eligible to receive financial assistance.

Probation Graduate: A student placed on financial aid Suspension, has the option of appealing the suspension through the SAP appeal process. If after the review process, an appeal is granted, a student will be placed on PROBATION GRADUATE for the next semster, and a student must bring his/her SAP eligibility to GOOD STANDING GRADUATE status during the semester or be placed on SUSPENSION GRADUATE. While on PROBATION GRADUATE, a student may continue to receive financial assistance as long as a student is otherwise eligible.

Suspension Graduate: A student with a previous SAP status of SAP WARNING or PROBATION GRADUATE and fails to meet SAP eligibility during the next semester, will be assigned SAP status of SUSPENSION GRADUATE and will NOT be eligible for financial assistance during the next semester he/she attends the university. A student under the SUSPENSION GRADUATE may appeal this decision through the appeal process.

If you withdrew or have been out for a semester or more, please reapply for admission to the University.

Repeated Courses

The Department of Education has recently published new regulations which limiting the number of times a student may repeat a course and receieve financial aid for that course. These regulations are part of a series called Program Integrity Rules and are effective July 1, 2011.

A student may receive financial aid when repeating a course that was previously failed (received a 0.0 or No Pass), regardless of the number of times the course was attempted and failed.
A student may receive financial aid to repeat a previously passed course one additional time.
Once a student has completed any course twice with a passing grade, no longer eligible to receive financial aid for that course.
If a student retakes a course that is not financial aid eligible, a recalculation of aid is done to exclude the credits for the repeated course.
This rule applies whether or not the student received financial aid for earlier enrollments in the course.
Students will receive notification if receiving financial aid and attempt to repeat coursework beyond the limits.

NOTE: Federal regulations specify that students may not receive financial aid for repeating courses previously passed if the student is required to retake those courses as part of a structured program. For example, a student who fails a course in a semester and is required by the college or department to repeat all courses taken in that semester before moving on in the program; would not be eligible to receive financial aid for the passed courses, only for the failed one(s). This may mean that the student would not be eligibe for financial aid for the semester, depending upon the number of previously passed courses being repeated.

How to Appeal

If you fail to meet the minimum Satisfactory Academic Progress standards (SAP), you will be placed on Suspension.

You can appeal this suspension by writing a letter to the Appeals Committee after receiving the official notification. Please include the reason why you did not meet the minimum academic standards and state why financial aid should not be terminated. You may also include supporting documentation regarding your plan of action. Appeals must be submitted prior to established deadlines.

The Appeals Committee will review your appeal and determine whether the suspension is justified. You will be notified in writing of the final decision. If your appeal is granted, the status will be updated to Probation and you will be eligible for financial aid for the next semester. If your appeal is not approved, you may become eligible again by meeting the standards for Satisfactory Academic Progress (SAP).

Return of Title IV Funds and Repayments

Did you change direction?

Although you’re on route to your goal, it isn’t always a straight path. Circumstances change, and if you find it necessary to reduce your course load during a semester due to personal, financial or academic reasons, please let us know. We can determine what implications this might have on your financial assistance.

In order to be eligible for and continue receiving funds from certain financial aid programs, you are required to be enrolled for a minimum number of hours. If you do not let us know before dropping a course, you may incur an unexpected financial obligation to the University. For example, a student who drops below half-time before a loan is fully disbursed is not eligible for any further disbursements in the same semester, even if a balance is due to the University.

Return of Title IV funds policy

If a student withdraws, drops out or is dismissed on or before the 60 percent point in time of the period of enrollment, which is calculated using calendar days, a portion of the Title IV Federal Funds awarded (Pell Grant, FSEOG, Perkins Loan, federal Stafford Loans - subsidized and unsubsidized – and federal PLUS loans) must be returned, according to the Federal Formula for Return of Title IV funds as specified in section 484B of the provisions of the Higher Education Amendments of 1998. Recalculation is based on the percent of "earned aid" using the following formula:

Percent Earned = (Number of days completed up to the withdrawal date) ÷ (Total number of calendar days in term)

Federal aid is returned to the federal government based on the percent of "unearned aid" using the following formula:

(100 Percent - Percent Earned) multiplied by the Amount of Aid Disbursed toward institutional charges

The responsibility of returning "unearned" aid is allocated between St. Mary's University and the student according to the portion of disbursed aid that could have been disbursed to cover St. Mary's charges and the portion that could have been disbursed directly to the student once the St. Mary's charges were covered. St. Mary's will distribute the "unearned" aid back to the Title IV programs as specified by law. The student will be billed for the amount they owe to the Title IV programs and any amount due to St. Mary's University resulting from the return of Title IV funds used to cover University charges.

Cost of Attendance

The bottom line

Sometimes, it all boils down to one question: how much does it cost? When considering graduate school, you have a lot of options. We believe our costs are competitive, and know you'll receive an outstanding education. The estimated cost of attendance is our best approximation of what each student at St. Mary's will need to cover direct and indirect expenses. A standard student budget is assigned to every enrolled student.