dcsimg Financial Aid FAQ

Financial Aid FAQs

What is the cost for tuition?

  • The cost of tuition for the 2014-15 academic year is $44,100.

How do I apply for financial aid?

  • To apply for federal student aid, each student must complete a Free Application for Federal Student Aid (FAFSA).
  • The FAFSA is available every year on January 1. It is recommended that you complete the FAFSA as soon as possible to ensure timely processing of your financial aid. List all schools you are considering. You do not need to already be accepted for admission to the university to submit the FAFSA.

What is the FAFSA Title IV school code?

  • The Marian University school code is 001821.

When will I receive my loan funds?

  • If the student has accepted their loans from the financial aid award letter, and completed the required loan documents (entrance counseling and master promissory note), loan funds should be credited to the students account by the first day of class.
  • The total loan amount borrowed covers one academic year. The loan will be disbursed in two payments, occurring at the beginning of the fall and spring semesters.

I received an outside scholarship. Should I report it to the financial aid office?

  • Yes. Please notify the Office of Financial Aid if you are receiving any financial aid from an outside source. We will review any outside aid a student receives to determine if the total amount received exceeds the student’s budget. Adjustments to the student’s financial aid award may be required.

Do I have to reapply for financial aid every year?

  • Yes. You are required to apply for financial aid every year if you intend to receive federal student aid. After your first year you will receive a Renewal Application which contains preprinted information from the previous year's FAFSA.

How do I find out information about outside scholarships?

  • Students should visit the AAMC, and AACOM for information on potential outside scholarship sources. Students are also encouraged to check with their local civic, religious, fraternal, and community organizations, personal donors, and free scholarship search engines. If the Office of Financial Aid receives scholarship information from various organizations periodically throughout the academic year, students will be notified about these scholarship opportunities via e-mail.

What is a financial aid award letter?

  • The financial aid award letter lists the type(s) of financial aid for which a student is eligible and is available to view once your financial aid application has been reviewed and processed by the Office of Financial Aid. Award notifications are available on CAMS (a valid university ID and password are required). Students must review their award notification and accept the total amount of financial aid they wish to receive for the academic year before federal student loans can be processed for disbursement. 

I have previous educational loans. Who processes my deferment forms?

  • Deferment forms should be submitted to the Office of the Registrar for processing.

 Are non-United States citizens eligible for federal financial aid?

  • If you are not a United States citizen, you still may be eligible for federal financial aid if you are determined to be an eligible non-citizen. Visit this site for more details: www.fafsa.ed.gov/help/fotw15a.htm.

Are international students eligible to receive state or federal financial aid?

  • No. International students are not eligible for federal and state financial aid programs. There are, however, a number of privately funded scholarship programs for International students. One useful online resource for International student scholarships is www.iefa.org.

Can my financial aid package exceed the cost of education?

  • No. If you have a unique situation, please contact our office at 317.955.6298 to make an appointment with a financial aid counselor.

Do I need to be admitted before I can apply for financial aid?

  • No. You can apply for financial aid any time after January 1. The Office of Financial Aid will not create a financial aid package until you have been accepted and your seat deposit has been paid.

Do I need to provide parental information to be considered for financial aid?

  • No. Students may apply for federal loans without submitting parental information. If necessary, students may borrow a combination of loans to cover the full cost of attendance each year. The loans that do not require parent information is the Federal Unsubsidized Stafford Loan, and the Graduate PLUS Loan.
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