Types of Financial Assistance Available

The college defines its academic year as two 15-week semesters and an optional summer trailer.

Enrollment status is defined as:

Full-time Three quarter Time Half time Less than half time
Undergraduate student 12 or more semester hours (sh) 9-11.9 sh 6-8.9 sh Fewer than 6 sh
Graduate student 9 or more sh Not applicable 5-8.9 sh Fewer than 5 sh

Grants and Scholarships are funds that do not need to be repaid. Their sources may be institutional, federal, state, or private.

Federal Grants

To be considered for a federal grant, students must file a FAFSA for each academic year and complete other financial aid processes as requested by the financial aid office.

Pell grant: A federal need-based grant available to students earning their first undergraduate degree or enrolled at least half-time in the post graduate teacher licensure program with remaining lifetime eligibility.

Iraq and Afghanistan Service Grants: For students who meet the Pell grant eligibility criteria except for the FAFSA expected family contribution and a parent or guardian was member of the US Armed Forces and died as a result of military service performed in Iraq or Afghanistan after the events of 9/11 and you were under 24 years old and enrolled in college at least part-time at the time of your parent’s or guardian’s death. More information at https://studentaid.ed.gov/sa/types/grants-scholarships/iraq-afghanistan-service

SEOG: The Federal Supplemental Educational Opportunity Grant (FSEOG) is available for undergraduates with exceptional financial need.

Federal TEACH grant: The TEACH Grant Program provides grants of up to $4,000 a year to students who are planning to become teachers in a high-need field in a low-income. For more information see this link: studentaid.ed.gov/types/grants-scholarships/teach

Mary Baldwin Grants and Scholarship

Merit Scholarships are awarded based on academic qualifications. Grants are awarded based on academic qualifications, need as determined by the FAFSA, or both. Applicants to the College for Women are considered for these.

Endowed scholarships may be awarded on other bases. Students will be notified of their eligibility for them.

Outside or Private Scholarships

These are scholarship funds from sources outside the institution and the federal government. You may find information about these in your high school guidance office, civic organizations or scholarship search sites such as www.fastweb.com. We caution you to be careful about releasing your personal information and not to pay for scholarship searches.

Veterans’ Benefits

The VA determines your eligibility for benefits. You may apply for your education benefits or to transfer benefits to a child or spouse at www.gibill.va.gov. You will find more information about the VA benefit process at this site: https://www.marybaldwin.edu/ilearn/veterans-benefit-information/

Federal Student Loans

Loans are funds that must be repaid.  To be considered for a federal student loan, students must file a FAFSA for each academic year and complete other financial aid processes as requested by the financial aid office.

After you enter into an agreement with the federal government about your federal student or PLUS loan, your loan information will be released to NSLDS (the National Student Loan Data Service) and will be accessible by authorized agencies, lenders, and institutions.

First time student borrowers must complete student loan entrance counseling and a master promissory note (MPN).at www.studentloans.gov.  You will need your FSA ID to complete this process.

First time parent or Grad PLUS borrowers must complete a PLUS master promissory note at www.studentloans.gov. They will need their FSA ID to complete the process.

Direct Stafford (Student) Loan Limits

Below are the maximum amounts of subsidized (interest does not accrue during enrollment of at least half time status) and unsubsidized (interest begins accruing at disbursement) loans available to students based on their year in school and dependency status as determined by the FAFSA.

Click on image for larger version

Credit based federal education loans for parents and for graduate students

Parent loan for undergraduate students (PLUS): Parents of undergraduate students may apply for a credit based parent loan and may borrow up to the cost of attendance less other financial aid.

Grad PLUS loansFor graduate students who need additional funds after their unsubsidized eligibility has been met.

Detailed information about all federal student loans, including fees and interest rates may be found at www.studentloans.gov. Please also call the Financial Aid Office with questions.

State Grants

Your state may have grant funds for which you may apply. Check with the state department of education of your state.

Virginia Tuition Assistance Grant: Virginia residents may apply for the Virginia Tuition Assistance Grant. The application form is available at this link: Full time undergraduate students have a lifetime limit of 8 semesters. Full-time graduate students in certain health related programs have a life time limit of 6 semesters.

Virginia Community College Transfer Grant is available for Virginia residents who have earned an Associate Degree and have begun full time studies at a 4 year institution in the state the fall or spring semester following their Associates Degree, and meet certain need criteria.

More information about these state grants may be found at the State Council of Higher Education of Virginia website: www.schev.edu

Alternative or Private Loans

Students apply for these loans through private lenders. The college certifies the need for the requested loan amount after the student has completed all of the lender’s processes. There is information about alternative loans here: https://www.marybaldwin.edu/financial_aid/alternative_loans/

Please note that you are not limited to the lenders listed here. You may use any lender of your choice. We encourage you to use private loans as a last resort and to research the loan criteria.

Campus Employment

Campus employment provides an opportunity for students to earn funds. Students are paid directly after turning in a time card. Mary Baldwin’s Student Employment Program offers part-time job opportunities on and off campus to all Mary Baldwin students who are enrolled at least part-time (6 credits). Students must apply for positions. Funding and positions are limited.

Federal Work-Study funds provide both on campus and off campus community service employment opportunities. Students must have financial need as determined by their FAFSA and other financial aid to be eligible for consideration for these funds. These funds are considered part of a student’s financial aid package.

The college provides funds for non-need based campus employment. These funds are not considered as part of a student’s financial aid package.

More information is available at this link:

https://www.marybaldwin.edu/financial_aid/sep/student-employment-program-quick-guide/

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