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Cashier's Office
Deferment Options

|| Financial Aid Plan || Student Loan || Deferred Tuition || Employer Deferred Plan || Monthly Payment || Credit Card || Web Payment ||

Financial Aid Plan

Students may defer payment of that portion of a semester's expenses that will be covered by approved financial aid awards, such as Federal Pell Grants, Federal SEOG, Federal Perkins Loans, Marywood Scholarships and Grants, PHEAA Grants, and other state grants. Further information is available on the Marywood University Financial Aid website.

Payment by Student Loan

Students who intend to pay for their educational expenses with a student loan may defer payment of the portion of expenses to be covered by the loan until the loan is approved. Students should apply for their loans by the end of July for the fall semester and by the end of November for the spring semester to insure that loan funds will be available at the start of the semester.

First-time borrowers are required to submit the completed Federal Stafford Loan Master Promissory Note (MPN) directly to American Education Services (AES) by the above dates. Renewal borrowers do not have to complete a MPN each year while in attendance at Marywood University. Applicants may need to complete additional documents with the Financial Aid Office in order to complete the loan process.

Loans are usually distributed in two disbursements via electronic funds transfers (EFT) or checks as follows: one-half of the approved amount for the fall semester and one-half of the approved for the spring semester. In such cases, the student may defer payment only for that portion of the loan which will actually be disbursed to the University during that semester. Student loan checks will be sent directly to the University from the lending institution. The student is required by the University to come to the Cashier's Office to endorse the check within three days after the student is notified that the loan check in received by the University. Loans disbursed by EFT will be automatically credited to the student's account upon verification of enrollment, loan amount, and receipt of any necessary documentation.

If a loan application is rejected, the student must make full payment of his/her account within 7 days after notification is received from the state guaranty agency. If payment is received after 7 days from the date of notification, the student's account will be charged a $40.00 deferred payment fee.

If a student fails to negotiate a loan check in a timely manner, or if a student does not pay the amount due the University when a loan is rejected, the University may also take any of the actions listed in the University policy on financial delinquency.

Refunds of financial aid/loan funds will be issued when a credit balance exists on a student's account. Students should plan to arrive on campus with enough personal money to make purchases, such as books, without depending upon financial aid funds.

Deferred Tuition Plan

A deferred payment plan that allows payment of expenses in four payments for a deferred payment fee is available for students who wish to pay their expenses in this manner.

This plan requires payment of one-quarter of tuition plus all fees, including the deferred payment fee and room and board, by the semester payment due date or at registration. The remaining three-quarters of tuition is due in three equal payments on specific due dates set by the Cashier's Office.

Application for this plan must be made by the semester payment due date or at registration. If timely payment is not made after the completion of a semester, the University reserves the right to refuse to offer this deferment to a student for subsequent semesters.

Employer Deferred Plan

Payment of tuition may be deferred if the student has provided a completed Application for Deferment of Tuition Payment form, signed by the student's employer. Students are required to pay all fees and any portion of tuition not covered by their employer at the Cashier's Office by the semester due dates or at registration. The student is responsible for any tuition not paid by the employer within the prescribed period. If the student or employer does not make scheduled payments on time, the University reserves the right to refuse to offer this payment plan to the student for subsequent semesters.

Monthly Payment Plan

An interest free monthly payment plan is available to Marywood students/parents who wish to pay for educational expenses on a monthly basis. This plan allows the payment of tuition, fees, and room and board in 10 (ten) manageable monthly installments for an annual participation fee. Brochures describing this plan are mailed to incoming students in April of each year. Brochures are also available from the Marywood University Cashier's Office. This plan is managed by Sallie Mae , 463 Swansea Mall Drive, Swansea, MA 02777, Phone: (800) 635-0120, www.tuitionpay.com. All payments are made directly to this firm, which in turn remits payments to the University for each student.