Financial Aid FAQs

Financial Aid Frequently Asked Questions

What is Financial Aid?

Financial aid assists in making a college education more affordable. Financial aid is any financial resource outside the family's own resources which helps offset the cost of a college education. A financial aid package is a combination of scholarships, grants, loans and work-study.

What are the types of financial aid?

Grants are awards that do not have to be repaid. Most are available through federal funding and some through Mount Marty College and are awarded on the basis of demonstrated financial need.

Scholarships are earned gifts awarded on the basis of academic performance or extracurricular activities. These scholarships are awarded by Mount Marty College. These awards need not be repaid and are awarded on the basis of academic achievement and/or special talents. Private sector scholarships are available through civic and fraternal organizations.

Loans provide funding for education and need to be repaid at a later date. Most federal loans are deferred while the student is attending college at least on a half-time basis.

Employment programs provide part-time work to assist in paying for your education. Federal Work-study and Mount Marty College Campus Employment provide jobs in a variety of areas on campus. A campus job provides an opportunity to earn money during the school year to assist with your costs.

What are the sources of financial aid?
Your financial aid package may include aid from the following sources:

Federal Government
State Government
Mount Marty College
Private Sources
Civic Organizations and Churches
Employers

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How is Financial Aid Determined?

The majority of students who apply for financial aid receive some type of financial assistance. In order to determine your eligibility for different types of financial aid, you must complete the Free Application for Federal Student Aid (FAFSA). Eligibility for certain need-based programs is based on your family's financial resources as disclosed on the FAFSA. Once the FAFSA is completed, the Financial Assistance Office will determine your financial need based on the Expected Family Contribution (EFC) provided by the government. Your financial need is calculated as follows:

Cost of Attendance (Tuition, Room & Board, Books, etc.)
-Expected Family Contribution (EFC)
= Financial Need

Various types of financial aid are available from MMC, the Federal Government, and other sources to provide assistance towards the family financial need. Therefore, the amount you and your family would pay is calculated as follows:

Cost of Attendance (Tuition, Room & Board, Books, etc.)
-Financial Aid
= Your Out-Of-Pocket Cost

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What are Mount Marty's Financial Aid Policies?

Satisfactory Academic Progress (SAP)
A student's performance toward the completion of their educational objective must be measured to ensure their continued eligibility for financial aid. Find out the standards a student must meet.

Student Rights and Responsibilities
Students receiving federal financial aid have rights and obligations they should be award of. Find out more about these provisions.

Mount Marty College Refund Policy
Refunds or tuition adjustments are given to students who officially withdraw from the college within a set timeframe. Find out the institutional schedule for tuition refunds.

Federal Return of Title IV Funds
The federal refund policy that applies to students who withdraw or are expelled during the first 60% of the semester.

Professional Judgment
Professional Judgment is a provision that financial aid administrators can use to take into account a students change in their financial condition or dependency status, which is not represented on the FAFSA (Free Application for Federal Student Aid).

Reapplying for Financial Aid
The annual application process used in applying for federal student aid.

Renewing MMC Scholarships
The criteria and requirements students will need to meet in order to renew Mount Marty College scholarships and awards.

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