Financial aid policies
Financial aid policies
The Johns Hopkins Carey Business School offers financial support including federal low-interest loans, state grants and scholarships, and school-based scholarships and grants.
In general, consideration for financial aid is restricted to students who are fully and unconditionally accepted into a degree or approved certificate program, enroll half-time or more each semester, and maintain satisfactory academic progress. Students admitted midterm will become eligible for institutional aid for the next semester. Provisionally admitted students who are taking the prerequisite credits necessary for unconditional admission to their program may be considered for limited federal loan assistance for one or two semesters depending on the number of prerequisites required.
It is important to understand how the switch to pass/fail grading will affect your grade point average. The school’s policy has always been that a “fail” would count toward your GPA the same as failing a course with a letter grade would. In contrast, a “pass” does not affect your GPA. For more information on Pass/Fail grades and Financial Aid eligibility, please see here.
Academic Year Half-Time Enrollment
The academic year consists of the summer, fall, and spring semesters. The fall one and fall two terms together comprise the “fall semester”. Likewise, the spring one and spring two terms together comprise the “spring semester.” For the purposes of most financial aid programs, students must maintain at least half-time enrollment in the semester. Half-time enrollment for graduate students is at least 4.5 credits per semester (which is three two-credit courses) for the fall and spring semester, and at least three credits in the summer term. Students who enroll in the January intersession will have those credits added to their spring semester credits to determine enrollment status.
Deferment of student loan repayment is available for students enrolled at least half-time. The Office of the Registrar certifies loan deferment forms. Students who only need one or two courses to graduate and will enroll less than half-time will go into their grace period as of the date they cease attending half-time.
Financial aid is available only for courses students will receive credit toward completion of their program. Courses taken for personal reasons or so a student can remain enrolled at least half-time are not eligible for federal financial aid. Audited courses do not count toward the credits required for financial aid availability.
Students must maintain satisfactory academic progress and credit compliance (half-time enrollment in required courses per semester in which aid is received) to continue to be eligible for financial aid. Academic progress is reviewed after each semester. Please refer to our policy, satisfactory academic progress requirements for financial aid recipients,” available here.
The Eligibility Requirements for Federal Financial Aid can be found here.
International students are encouraged to investigate the possibility of aid through their government or outside agencies. Additional information on scholarships for international students is available here.
To be considered for financial aid, a student must file the Free Application for Federal Student Aid using school code E02145. Students must reapply for aid each year by filing a renewal FAFSA. School-based scholarship applicants also must complete the school-based scholarship application.
The priority filing date to apply for financial aid each year is April 15 (March 15 for fulltime programs and the Executive MBA). For spring only applicants, the priority filing date to apply for financial aid is November 1. Students can apply for financial aid at any time during the academic year (prior to the end of classes); however, the application process can take time, and only those who apply by the priority filing date can be assured that their financial aid awards will be ready for the start of classes. Maryland residents who wish to be considered for Maryland state scholarships must complete their FAFSA prior to March 1.
Students must demonstrate financial need as calculated by federal methodology to be considered eligible for all need-based aid. In addition to other documentation, students selected for verification will must also provide signed copies of their most recent federal tax transcripts and those of parents or spouses (if applicable), including all schedules filed and W-2 forms.
Most financial aid available is in the form of federal student loans. Information on the types of financial aid available can be found here.
Gift aid (scholarships and grants) may be taxable to the extent that it exceeds the federally allowable costs of tuition, fees, and required books and supplies, or is dedicated to other costs, such as living expenses. Federal grants may be taxable if, together with other gift assistance, they exceed the allowable costs.
Financial aid awards disburse to the student account on the first day of the semester (Fall and Spring) and July 1 (Summer) for students whose financial aid files are complete and awarded. When aid from all sources exceeds the tuition and fees charged by the school, the Student Accounts Office will send a refund of any credit balance remaining on the student’s account. Please refer to the refunds section below for the specifics regarding this refund.
Students whose aid awards exceed the cost of tuition and fees may request book vouchers for use at the school’s bookstores three weeks prior to the start of class. Requests should be in writing and include the estimated cost of the books from MBS.
The Carey Business School reserves the right to ask for documentation necessary to determine aid eligibility. Documents submitted as part of aid applications become the property of the Carey Business School and cannot be returned. Applications for federal aid cannot be processed if the relevant tax returns have not been filed in accordance with IRS code. Federal regulations require that the school report suspected cases of fraud or misrepresentation to the appropriate federal, state, and local authorities.
In compliance with the Higher Education Amendments of 1998, students receiving Title IV aid who drop below half-time status or withdraw completely may have their aid returned to the government according to a federal formula. Aid proceeds, which have been previously refunded to the student for living expenses, may have to be repaid immediately as well. More detailed information on Title IV aid is available here. Since such changes in academic status may also affect students’ future eligibility for aid, it is recommended that Title IV aid recipients who contemplate withdrawing or reducing their status below half-time first consult the financial aid office.
Once all tuition and fees have been covered by financial aid, students may be eligible to receive a refund of the excess aid that remains on their account. If you do not wish to receive a refund, please contact the Student Accounts Office or the Office of Financial Aid about your options. Johns Hopkins University students may be eligible to received refunds resulting from credit balances in their student accounts. Johns Hopkins use Flywire who offers direct deposit or paper check refunds to our students. Login to the SIS self-service student portal to enroll. Be sure to verify your mailing address as well.