Frequently asked questions
Paying for college comes with important questions, and weโre here to provide clear answers. This Cost and Financial Aid FAQ page is designed to help students and families understand tuition, scholarships, loans, payment options, and financial planning so you can make informed, confident decisions about your education investment.
Understanding Cost
Your total cost depends on your program, housing choice, and enrollment status. The full cost of attendance includes tuition, fees, housing, meals, books, and estimated living expenses. After scholarships and financial aid are applied, your out-of-pocket cost is often significantly lower than the published rate.
Financial aid and scholarships directly reduce what you are responsible for paying. Scholarships and grants lower your tuition and do not need to be repaid, decreasing your overall cost. Loans can help cover remaining expenses but must be repaid over time. After all aid is applied, your remaining balance is your net cost, which is often significantly lower than the published tuition rate.
Applying for Financial Aid
Yes. Completing the FAFSA ensures you are considered for federal grants, loans, work-study, and many institutional scholarships. Filing keeps your options open.
The FAFSA typically opens October 1 each year. Filing early increases your access to the widest range of federal, state, and institutional aid.
Financial aid may include scholarships, grants, federal student loans, work-study, veteran benefits, and payment plans. Your aid package may include a combination of these options.
Your aid package is based on FAFSA information, academic achievement, program eligibility, and institutional policies. Each studentโs offer is unique.
Scholarships & Grants
Many scholarships are renewable if you maintain required GPA and enrollment criteria. Renewal requirements are outlined in your award letter.
Merit scholarships are typically based on academic achievement, such as GPA and academic record at the time of admission. Some awards may also consider leadership, involvement, or program of study. Most merit scholarships are automatically reviewed when you apply to CSM.
Yes. Scholarships are part of your overall financial aid package. You can receive merit scholarships, need-based grants, federal aid, and other assistance together, depending on your eligibility and enrollment status.
No. Institutional scholarships cannot be combined. For example, if a student is awarded both an athletic scholarship and a merit scholarship, she will receive the scholarship with the higher value, not both.
Loans & Borrowing
Subsidized loans are need-based and do not accrue interest while you are enrolled at least half-time, during the grace period, and during approved deferment.
Unsubsidized loans are not need-based, and interest begins accruing as soon as the loan is disbursed.
The amount you may need to borrow depends on your total cost of attendance minus scholarships, grants, savings, and any family contributions. After all aid is applied, your remaining balance determines whether borrowing is necessary. Many students borrow only a portion of their eligibility to keep future repayment manageable.
Our financial aid team can walk through repayment estimates with you before you accept any loan.
Federal student loans typically enter repayment six months after you graduate, leave school, or drop below half-time enrollment. This six-month period is called a grace period. Interest may continue to accrue during this time depending on the loan type. Repayment plans vary and can be adjusted based on income and financial circumstances.
Payments & Student Accounts
The Semester Financial Agreement outlines your financial responsibilities for the term. It confirms your enrollment, payment arrangements, and understanding of tuition and fee policies before classes begin.
Completing the SFA ensures your registration remains active and your payment plan is in place.
Yes. CSM offers flexible payment plan options that allow you to spread tuition payments over the semester rather than paying in one lump sum. Payment plans can help families manage cash flow and reduce the need for additional borrowing.
Your net cost is the total cost of attendance minus scholarships and grants. You can estimate this by reviewing tuition and fees, subtracting your financial aid offer, and considering payment plans or additional resources. Our team can help you walk through the numbers.
If your family experiences a significant change in income or circumstances, contact the Financial Aid Office. In some cases, we may be able to review updated documentation and reassess your eligibility for certain types of aid.
Parents & Family
Federal privacy laws protect student education records. Financial aid details are shared directly with the student unless the student provides written authorization granting parent access. We encourage families to review information together, but the student controls account access.
For dependent students, parent financial information is required on the FAFSA. Parents will need to create their own FSA ID to electronically sign the form. We recommend completing the FAFSA together to ensure accuracy and understanding.
If your family experiences a significant financial change, contact the Financial Aid Office. In certain cases, we can review updated documentation and determine whether adjustments are possible.
Parent PLUS Loans are federal loans that parents of dependent undergraduate students may apply for to help cover remaining educational costs. Approval is based on credit history. Repayment typically begins shortly after the loan is fully disbursed, though deferment options may be available while the student is enrolled.
No. Federal Direct Subsidized and Unsubsidized Loans are in the studentโs name, and the student is responsible for repayment. Parent PLUS Loans, however, are the parentโs responsibility.
Parents can support smart borrowing decisions by reviewing the financial aid offer with their student, considering payment plans, exploring outside scholarships, and borrowing only what is truly necessary.
Graduate Students
Yes. Graduate students may qualify for federal Direct Unsubsidized Loans and, in some cases, Graduate PLUS Loans. Many CSM graduate programs also offer renewable merit-based scholarships to help reduce overall cost.
Yes. Completing the FAFSA is required to access federal student loans and certain institutional aid. Even if you plan to self-fund, filing keeps your options open.
Yes. Graduate students can use employer tuition benefits alongside loans. Our team can help coordinate these resources within your aid package.
No. CSM does not offer merit scholarships to graduate students. Funding options may include federal student loans, employer tuition assistance, payment plans, or other external resources.
Graduate PLUS Loans are federal education loans available to graduate and professional students to help cover education costs not met by other financial aid. They have a fixed interest rate and offer flexible repayment plans through the U.S. Department of Education. Eligibility is based on credit review, and borrowers can request loan amounts up to their cost of attendance minus other financial aid.
Recent updates from the U.S. Department of Education may adjust how much graduate students can borrow through Graduate PLUS Loans. These changes generally affect loan limits โ either by setting new maximums or altering how borrowing amounts are calculated against your cost of attendance. The impact depends on your programโs tuition and fees, other financial aid you receive, and your individual financing needs.
At College of Saint Mary, Graduate PLUS Loans remain an option for eligible students to help cover education costs not met by scholarships, grants, or other aid. Because federal policy can change, we encourage students to:
- Review updated guidance on FAFSA.gov and studentaid.gov
- Speak with the CSM Financial Aid Office about how new limits may affect your borrowing plan
- Consider borrowing only whatโs necessary, with an eye toward future repayment
CSM monitors federal policy shifts and will update students if changes directly affect eligibility, loan amounts, or repayment terms.