/Institutions/Marywood-University/json/2021-2022/Undergraduate-Catalog-local.json

/Institutions/Marywood-University/json/2021-2022/Undergraduate-Catalog.json

Other Payment Options

TouchNet

TouchNet is a secure online student account payment system that allows the student or authorized payer(s), such as parents or guardians, to view the student account bill online, print the bill, and make online payments to their students’ accounts. The TouchNet system allows for electronic payments from a personal checking or savings account, debit or credit card.

Credit card usage is limited to Visa, MasterCard, Discover, and American Express through the TouchNet Pay Path system. There will be a service fee of 2.75% added to each credit card payment. There are no fees added if paying with an electronic check.

(This fee is not associated with nor passed on to Marywood University.)

Payment Plan

Marywood University has partnered with a third-party vendor, TouchNet, to accommodate students and authorized payers who wish to make tuition payments monthly. A $40.00 per semester nonrefundable payment plan fee will be charged for each term for which you set up a payment plan. Once you have set up a payment plan with TouchNet, any changes to your charges or financial aid awards or loans will automatically adjust your monthly payments. This option is only available for the Fall and Spring Semesters.

Payment by Credit Cards

Marywood University does not accept direct credit card payments for tuition, fees, room and board. Credit card payments may be made through TouchNet’s Pay Path System, as described above.

For More Information

If you would like more information about financial aid at Marywood, contact the Financial Aid Office.

Phone: 570-348-6225

E-mail:  finaid@marywood.edu

Website: marywood.edu/fin_aid

Scholarship Calculator: marywood.edu/calc

Federal Student/Parent Loans

Federal Direct Student Loan/Federal Direct Parent (PLUS) Loan Programs

Students who are enrolled on at least a half-time basis (6 credits per semester undergraduate/3 credits per semester graduate) may borrow under the Federal Direct Student Loan Program to assist with educational expenses.

Undergraduate applicants who meet federal eligibility requirements will receive a “subsidized” loan whereby the interest payments will be made by the federal government until the student graduates or leaves school for any reason. Applicants who do not qualify for the federal interest subsidy as well as graduate students will receive an “unsubsidized” loan whereby the interest payments must be paid by the student. In both cases, the principal balance of the loan is deferred until the student has graduated or leaves school for any reason.

Parents of undergraduate students may borrow under the Federal Direct Parent Loan (PLUS) Program to help cover educational expenses. Under the Federal Direct PLUS Program, parents can borrow up to a maximum of the cost of attending Marywood University less any financial aid received by the student. Repayment of both principal and interest usually begins sixty (60) days after the funds are disbursed.

Alternative Loan Application Process

There are a number of lending institutions that have developed Alternative Loan programs to assist students in meeting educational costs. These Alternative Loans are in addition to the Federal Direct Student Loan and Federal Direct PLUS Loan programs sponsored by the federal government. Alternative Loan options may be explored by going to www.elmselect.com.

Borrower-Based Academic Year Policy

Marywood University uses the Borrower-Based Academic Year policy for the processing of all student loan applications. This policy is as follows:

The Borrower-Based Academic Year is individualized for each borrower and may begin at any time within the school’s scheduled academic year based on the student’s start date in his/her program of study. The Borrower-Based Academic Year must meet the statutory requirements of an academic year or its equivalence. Equivalence for a Borrower-Based Academic Year at a term-based school is determined in two steps:

1. The school counts the number of terms in its scheduled academic year. The total of such terms then represents the minimum number of terms that must be included in a Borrower-Based Academic Year. At Marywood University, this number is two. A summer term falling outside the normal Scheduled Academic Year may be counted as one term in a Borrower-Based Academic Year. At Marywood University, a Borrower-Based Academic Year may consist of any of the following:
   • Fall and Spring semesters
   • Summer and Fall semesters
   • Spring and Summer semesters
2. The school must include in the Borrower-Based Academic Year only those terms in which it is or was possible for the student to enroll on at least a half- time basis.

Important

Marywood University urges you to use discretion in borrowing money for college. By signing the loan application/promissory note, you are making a commitment to repay that loan. If you should default on your loan, the federal government can sue for collection, attach your wages, and/or withhold income tax refunds. In addition, your future credit rating will be affected. Therefore, borrow only those funds that are absolutely necessary for your educational expenses. All borrowers are required by Federal Law to complete an exit interview with the Office of Financial Aid prior to graduation, withdrawal, or leave of absence from Marywood University.

State Grants

Residents of Pennsylvania can apply for a PHEAA State Grant through the Pennsylvania Higher Education Assistance Agency (PHEAA), Harrisburg, PA. By completing the steps outlined under “Application Procedures” eligible students will be processed for a PHEAA State Grant and notified by PHEAA of their status. Residents of other states should follow the State Scholarship/Grant application procedures established by their respective State Higher Education Assistance Agency.

Satisfactory Academic Progress

In compliance with federal laws, financial aid recipients must make satisfactory academic progress each academic year according to standards established by the federal/state governments. Marywood University’s Satisfactory Academic Progress Policy is available on the Financial Aid Office website at http://www.marywood.edu/fin_aid/eligibility/academic-progress/. Print copies are available in the Financial Aid Office.

The financial aid information listed in this catalog is current as of 2020. The University reserves the right, based upon changes in federal/state regulations and/or University policy, to revise such information when required or deemed appropriate.