Financial Aid Terms and Conditions

Financial Aid Terms and Conditions:

Financial aid at Marist is awarded on the basis of need and academic achievement. Financial aid offers may include a combination of grant/scholarship, loan and student employment. Unless otherwise indicated, aid is split evenly for fall and spring terms for students expected to attend a full academic year.
The availability of funds, federal and state, is tentative at the time awards are made and Marist College cannot guarantee substitute awards if anticipated outside resources do not materialize.
A complete description of all federal, state, and Marist aid programs can be found in the College Catalog. The College assumes students will utilize all offered awards, with the exception of Federal Student Loans and the Federal TEACH Grant. Students will be required to actively accept or reject the loans and/or TEACH Grant via the myMarist portal. To reinstate a declined loan or to adjust an accepted loan, the student must submit a written request to Student Financial Services via their Marist email or complete the Federal Direct Loan Adjustment Form, which can be found on myMarist. If a change to loan eligibility occurs after a loan was accepted on myMarist or disbursed, Student Financial Services may adjust the accepted loans and notify the student via email of the change.
Failure to maintain a necessary cumulative index, satisfactory progress or good academic standing may jeopardize receipt of a specific award. Please review the “Satisfactory Academic Progress Policy,” which can be found via your myMarist account under the “Student Financial Services” tab.
Financial aid offers project full eligibility for any program indicated; the student will be notified electronically of a change to or loss of aid.
Merit Scholarships are awarded upon acceptance on the recommendation of the Office of Admission and are reviewed at the end of each academic year following the completion of two semesters. In order to meet the criteria for scholarship renewal for up to four undergraduate academic years, undergraduate students must maintain satisfactory academic progress as well as a 2.85 cumulative GPA and full-time enrollment. Adult undergraduate students must maintain satisfactory academic progress. Graduate students must maintain a 3.0 cumulative GPA for scholarships which are awarded per course.
Athletic scholarships are awarded upon the recommendation of the Athletics Department.
Marist grants are awarded on the basis of financial need as determined by the FAFSA. Marist grants are renewable for up to four undergraduate academic years as long as eligible students remain enrolled full-time (12-16 credits) each fall and spring term, maintain satisfactory academic progress, and continue to submit the FAFSA by Marist’s priority deadline each academic year and demonstrate financial need.
Endowed Scholarships are awarded through the generosity of trustees, alumni, parents, and friends of the College. Students may view the Marist website for application information and eligibility requirements.
Traditional undergraduates who first enrolled at Marist for the Fall 2018 term or later are eligible to receive a Summer Discount of $750 per three-credit course, up to $1,500. This discount is available starting in the summer after their first year at Marist and may be renewed annually until their undergraduate degree is conferred. The award may not be used during traditional semesters (fall and spring) or for the winter intersession. It also cannot be applied toward non-Marist courses or graduate-level study. Students do not need to enroll each summer to be eligible for subsequent years; however, if the funds are not utilized in a given summer, they are forfeited and cannot be applied to any prior or future course. Students are only eligible for the summer discount if there are no other discounts to the published undergraduate per credit tuition charge for the summer.
The legislative annual maximum Federal Direct Student Loan is $5,500 for dependent Freshmen (0-29 credits), $6,500 for Sophomores (30-59 credits), $7,500 for Juniors (60-89 credits) and Seniors (90-120 credits) and $20,500 for Graduates. Independent students are eligible for additional Unsubsidized Direct loans. Physician Assistant and Doctor of Physical Therapy students are eligible for $20,500 in the Federal Direct Loan each borrower-based academic year (2 consecutive semesters), for an annual total up to $30,750. For further information, please review the SFS Website regarding specific loan limits and eligibility criteria.
Federal Campus Work Study (CWS) is a need-based financial aid program. Unlike other financial aid programs that are credited directly to a student’s account, CWS must be earned through working on campus. For more information on this program, please review the Student Employment section of my.marist.edu by hovering over the Student Financial Services tab and clicking the link for “Student Employment” or contacting the Student Financial Services Office.
Students are responsible for notifying the Office of Student Financial Services of any status changes including changes in enrollment or housing. A change in status may result in an adjustment to financial aid.
Marist aid is only to be applied towards billable charges. If a student’s total grant/scholarship funding (including federal, state and private sources) exceeds billable charges, Marist aid may be reduced.
Financial need is determined by subtracting the federally calculated student aid index (SAI) from the cost of attendance. Total financial aid including work study and educational loans cannot exceed the cost of attendance. Need-based financial aid cannot exceed the student’s demonstrated financial need. In the event that need-based aid exceeds need or total aid exceeds the cost of attendance, the student’s aid will be adjusted.
All outside awards, scholarships, grant assistance, and employer tuition reimbursement must be reported to the Office of Student Financial Services, and may impact the student’s financial aid eligibility. Marist will first apply these awards to the demonstrated need and where necessary to comply with federal law, will adjust Campus Work Study and/or educational loans. In a case where need is exceeded, any grants based on need may also have to be adjusted.
Financial aid offers for incoming freshmen and returning traditional undergraduate students are contingent upon the student enrolling on a full-time basis, unless otherwise noted. Students in the Adult Undergraduate or Graduate Programs will be packaged as indicated on the Admission Application or per actual enrollment and the financial aid is contingent on enrollment level.
Financial aid is set to disburse once in the fall and once in the spring semester, except for students in an accelerated program. Financial aid for students in the Physician Assistant and Doctor of Physical Therapy programs will disburse once per term. In order for federal and/or need-based financial aid to disburse, all financial aid requirements reflected on the student’s myMarist account must be complete.
Some forms of financial aid are not automatically renewed. Please be sure to complete all required forms/documentation available on the student’s myMarist account to ensure the student’s financial aid eligibility.
Students picked for verification must complete verification requirements. Awards are estimated until Student Financial Services has verified the data on the FAFSA. When incorrect information is revealed, the FAFSA must be corrected, which may result in an adjustment to financial aid. If requested documentation is not submitted by the deadline provided, the student’s financial aid may be cancelled.
If a student is not permitted to return to Marist College for academic or disciplinary reasons or for an outstanding balance on the student’s account, the student’s financial aid will become void.
Title IV Refund Policy: This refund policy will apply to students who receive assistance under Title IV (federal) funding and/or to parents who receive Federal Parent Plus loans for their children. Title IV funding includes the following programs: Federal Direct Loan Program, Federal Pell Grant Program, Federal SEOG Program, and the Federal TEACH Grant Program. Students whose Title IV aid consists only of Federal Work-Study earnings are not included in the calculation. This policy begins the first day of classes and is effective for up to 60% of the period of enrollment of the semester in attendance. If the student withdraws from Marist College during the first 60% of the semester, they may be responsible for a portion of unearned Title IV funds disbursed or that could have been disbursed. The percentage for which the student is eligible is equal to the percentage of the enrollment period that the student has completed. The percentage is calculated by dividing the portion of the period completed by the length of the payment period. If the period of enrollment is greater than 60%, the student has earned 100% of the aid. The amount earned is the percentage multiplied by the amount of Title IV aid awarded. The amount unearned is the difference between the amount awarded less the amount earned. Refunds back to Title IV programs will be assessed within 45 days of the official date of withdrawal. The date of withdrawal will be the earliest of either the date the student notified a school official of their intent to withdraw or the date recorded by the Center for Advising and Academic Services.
Excess Financial Aid: The Office of Student Financial Services may process a credit advance up to a certain allocation every semester before the financial aid posts. In order to receive a credit advance, students must have a valid credit on the account and all required documentation must be complete. Students may begin to request credit advances two weeks prior to the start of the semester. All remaining credit requests may be completed after the financial aid posts for the semester. Review the Credit Refund Policy for further details via your myMarist account by clicking on the “Student Financial Services” tab. Please note if a student’s enrollment or eligibility changes after the semester has begun and a credit refund has already been issued, this could result in a balance owed to the College.
Consumer information for the College may be viewed at https://www.marist.edu/offices/institutional-research/consumer-information

I agree to all terms and provisions outlined above. I realize that failure to comply with any of the terms and provisions could jeopardize my financial aid.

I understand that Marist College reserves the right to revise my financial aid offer on the basis of information received subsequent to the issuance of the award or to correct errors made by the College.

Acknowledgement of Basic Student Accident and Sickness Insurance Plan:

The Marist College Student Accident and Sickness Insurance Plan is designed in cooperation with the Allen J. Flood Companies, Inc, the Plan Administrator.

The insurance plan is not automatically offered to graduate students, part-time undergraduates or students enrolled in certain special programs. If you wish to enroll in the health insurance plan, please opt in at mystudentmedical.com.

I understand that Marist College will assess a fee to my student account for the Basic Student Accident and Sickness Insurance Plan if enrolled as a full-time undergraduate student or as an international student.

I am aware that if I have existing medical coverage under another policy, I may choose to opt out of Marist College’s insurance plan. (International students are required to maintain Marist College’s insurance plan and are unable to opt out.)

In order to remove the optional health insurance charge from my student account, I understand I must electronically opt out of the plan using my CWID and current insurance information before the established deadline. Additionally, I accept that if I do not waive my participation in this plan before the deadline, I am financially responsible for the charge.

Acknowledgement of Billing Terms & Promissory Note to Pay:

I understand that, in the event of a past due account, I will be responsible for the balance, any assessed service charges and collection fees associated with the resolution of this debt including attorney fees and other charges.

If an account is in a delinquent status, I will be prohibited from future registration and a financial hold will be placed on my student record.

I promise to pay Marist College any balance remaining if for any reason estimated financial aid is not posted to my account.

I agree to all terms outlined above.