Deferment Options

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.

Effective July 1, 2010, all borrowers are required to go to the Department of Education website to complete the Loan Entrance Interview and Master Promissory Note (MPN) by the above dates. Federal Stafford Loans and PLUS loans (both parent loans and graduate PLUS loans) will no longer be processed through American Educational Services (AES/PHEAA). Applicants may need to complete additional documents with the Financial Aid Office in order to complete the loan process.

To begin the loan process, borrowers must take the following steps: (1) Go to www.studentloans.gov and sign in using your Federal PIN number.(2) Complete Direct Loan Entrance Counseling. This process is required by law before you can receive a loan. (3) Complete a Direct Loan Electronic Master Promissory Note (MPN). You will need reference information for two people you have known for at least three years (name, address, telephone number, relationship to you). The first reference should be a parent or legal guardian. This process must be completed in a single session. (The Marywood University Federal Direct Loan Code is G03296.)

This site also allows Direct PLUS Loan borrowers (both parents and graduate/professional students) to complete a request for a Direct PLUS Loan and initiate a credit check online.

Upon Certification and approval, funds will be disbursed to Marywood University directly from the Department of Education and credited to the students' accounts.

If a student fails to complete the loan process, or if a student does not pay 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.

Payment Plan

Marywood University has partnered with a third party vendor, Nelnet Business Solutions, to accomodate students who wish to make tuition payments monthly. Through e-cashier (an on-line transaction system), students can arrange for monthly atutomatic payments from a checking or savings account or by credit card. Payers will have the option of having the Nelnet site retain their bank account information, or it may be entered each time a payment is made. A $40.00 per semester non-refundable payment plan fee will be charged for this option. Once your account has been established, it will be referred to as My FACTS Account. This option is only available for the Fall  & Spring Semesters. If you have any questions, please contact Nelnet directly at 1-800-609-8056.

Application for this plan must be made by the dates set by the Cashier's Office. 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 Employer 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.

Payment By Credit Card

Marywood University will no longer accept direct credit card payments for tuition, fees, room and board. Credit card payments may be made through the QuikPAY system. (PLEASE NOTE: Credit card usage is limited to MasterCard, Discover, and American Express. There will be a convenience fee of 2.75% added to each credit card payment when using this service. This fee is not associated with or passed on to Marywood University.