Financial Aid for Graduate Students

The Graduate Merit Scholarship is a general award offered to competitive applicants at the time of admission. The amount you will receive will depend on the strength and promise of your application to excel academically and professionally. Criteria and funds in any given year varies by program.

This award acknowledges and celebrates the significant contributions employees in the non-profit sector make in our communities. The objective of this scholarship is to help fund the educational needs of these nonprofit professionals.

We value the academic excellence of our undergraduate students and their ability to contribute to meaningful classroom conversations. The aim of the MSMU Alumni Award is to help our successful and deserving undergraduates advance their academic endeavors.

Since 1925, the Mount has been committed to promoting the academic and professional advancement of women. This scholarship celebrates that commitment and is awarded to applicants who’s professional and/or academic work has contributed to the advancement of women. 

The Ahmanson Veteran Scholarship Initiative (AVSI) supports the young men and women returning in record numbers from Iraq and Afghanistan, whose abilities and experience make them ideal college student candidates. Recognizing that public colleges and universities are not the perfect fit for all students and that the transition from military life to student life can have its challenges, the AVSI is designed to provide returning veterans the support needed to attend and ultimately graduate from private institutions of higher learning. 

Learn more about Veteran, Military & Family Services at the Mount.

Federal loans are funds that students borrow and must repay. Most loans are repaid after completion of studies, but some loans require repayment to begin shortly after loan funds have been sent to the University.

Federal Direct Stafford Loans

Federal Direct loans are the most common loans for graduate students. Federal Direct loans must be repaid with interest. Federal Direct Stafford Loans are federal loans available to students as a result of completing the FAFSA.

Unsubsidized Loan: The student is responsible for paying all the interest on the loan, during and after college.

• Graduate Loan Amount: $20,500 per year annual limit.
• Total aggregate limit (including any undergraduate borrowing) of $138,500.
• The maximum amount may be limited by the actual cost of attendance.
• 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: Borrower pays all interest, which begins accruing upon first disbursement, 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.
• Please visit Federal Student Aid for the most current information on federal loan interest rates.
• Federal loan interest rates are set by Congress and are fixed for the life of the loan. Current rates can be found at studentaid.gov. 
• An origination fee is deducted from each disbursement, so the money disbursed is less that the amount borrowed. The borrower is responsible for paying the total amount borrowed. Please visit Federal Student Aid for the current origination fee rate.
• Repayment starts 6 months after the student graduates, leaves school, or drops below half-time enrollment status.

Federal Direct Graduate PLUS Loan

The Graduate PLUS Loan is a Federal loan to help fill the gap between the total cost of attendance and the combined amount of all other scholarships, grants, federal, and institutional aid.

• Borrowers must meet credit requirements for this loan*.
• The maximum amount is limited by the actual cost of attendance minus the combined amount of all other scholarships, grants, federal, and institutional aid.
• There is no aggregate maximum on this loan.
• Interest accrues while the student is in school and during grace periods and eligible deferment periods.
• Please visit Federal Student Aid for the most current information on federal loan interest rates.
• Federal loan interest rates are set by Congress and are fixed for the life of the loan. Current rates can be found at studentaid.gov.
• An origination fee is deducted from each disbursement, so the money disbursed is less that the amount borrowed. The borrower is responsible for paying the total amount borrowed. Please visit Federal Student Aid for the current origination fee rate
• Repayment starts 6 months after the student graduates, leaves school, or drops below half-time status.

*Credit approval is based on federally mandated criteria, not a credit score. In order to qualify students must not have any of the following items on your credit report:

• Any current delinquency of 90 days or more
• Any of the following within the preceding 5 years of the date of the credit check: default, bankruptcy, discharge, foreclosure, repossession, tax lien, wage garnishment, write-off of a Title IV debt, open collection.
• Students who do not qualify for the loan based on credit may choose to document extenuating circumstances or obtain an endorser. Additional counseling is also required.

For more information on interest rates, please visit the Federal Student Aid website.

How to Apply for Federal Loans

Steps to Receive Federal Loans

Step 1: Accept/Decline loans: Once students have received an aid offer, students can accept/decline/reduce their student loans via myMSMU. Students should accept the Unsubsidized Direct Loan before accepting any Graduate PLUS loan, as that loan has more favorable terms.  Students wishing to accept an amount that is lower than the amount offered, should first click “Accept” and then "Reduce" and then enter the amount wanted. All loans will be split evenly over the standard terms in the student’s academic year.

Step 2: Complete Loan Master Promissory Notes: The Master Promissory Note (Loan Agreement) is completed online.  A separate MPN must be completed for each loan a student will be borrowing.  For the Unsubsidized Stafford loan choose Subsidized/Unsubsidized and for the Grad PLUS choose Graduate PLUS.

Step 3: Complete Loan Entrance Counseling: Students who have not yet borrowed any Federal Loans for their graduate program at Mount Saint Mary's University must complete the Graduate Loan Entrance Counseling online. Federal Loan Entrance Counseling is a process set up to educate new students about loans and the Federal Direct Loans program. It consists of a short tutorial on the rights and responsibilities of a borrower followed by a brief multiple choice quiz. The process takes approximately 20-25 minutes.

Private loans can help supplement educational financing. 

• MSMU has partnered with Elm Select to provide you with loan options. With Elm Select you are able to compare loans designed for MSMU and your degree. This is a free service providing the most lender options and allows you to find loan rates and terms that meet your needs.
• 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.

Many community organizations, foundations and businesses offer scholarships. We recommend you search for outside scholarships using popular search engines. Make sure your search is both broad and narrow in scope to get as many results as possible. We also recommend browsing several scholarship directories. We have provide you with a sample list below to help start your search.

If you are a graduate student, we encourage you to contact your employer or supervisor to determine if they have a tuition remission program or if they would be willing to help pay for a portion of your studies.

Online scholarship directories:

Beware of companies that guarantee or promise scholarships. Do not send money to companies that make generous promises, charge you money to receive aid, try to get you to send money by claiming you are a finalist in a scholarship contest or request your credit card or bank account number to hold a scholarship for you. To learn more, go to www.consumer.ftc.gov.

Tuition discounts are available for employees and members of certain partner organizations. Criteria and discount amounts vary by the terms of agreement established with each organization. Please visit your program's website or contact the Graduate Admission Office for more information about tuition discounts, by program. Below is a sample of some of our overarching discounts. 

Los Angeles Archdiocese Tuition Discount Program

Prospective students who are part-time or full-time employees of the Archdiocese of Los Angeles qualify to receive a 35% Tuition Discount.

Southern California Gas Company

Employees of Southern California Gas Company who are admitted to a Mount Saint Mary’s University graduate program may be eligible for a 15% tuition discount.

American Honda Finance

Employees of American Honda Finance Corporation qualify to receive a 15% tuition discount. AHFC employees can have the discount apply towards a graduate or undergraduate degree. To obtain the tuition discount, AHFC employees must present a letter or paystub showing current employment.

Jovenes, Inc. 

Both employees of Jovenes, Inc. and individuals serviced by Jovenes, Inc. interested in pursuing a degree at MSMU qualify to receive a 25% tuition discount. 

Research Assistants (RAs) assist professors and students with research and research-related activities. These positions not only provide students with a stipend to help finance their education but it also provides them with invaluable experience.

RA positions can be awarded to both current students and new students as part of the admission process. New applicants are automatically considered for an RA position based on merit and experience, subject to availability of funds. Contact the Graduate Admission Office for more information.

Teaching Assistants (TAs) perform various leadership, organizational and classroom management tasks to support both professors and current students. TAs enhance the learning experience of MSMU students by complementing the activities of the course instructor.

TA positions can be awarded to both current students and new students as part of the admission process. New applicants are automatically considered for a TA position based on merit and experience, subject to availability of funds. Contact the Graduate Admission Office for more information.