Financial Aid: Financial Aid Process

The Office of Student Financial Services at Midwestern University offers a convenient online application process.

For Newly Accepted Students:
Once you have been accepted, the admissions department will send your matriculation agreement and access to the online site to make your matriculation deposit. Once the first deposit is received, you will have access to the online site. Our office will also send you a message through your Midwestern University e-mail account with brief instructions for the online application process.

For Continuing Students:
The Office of Student Financial Services will e-mail the online application instructions to all students through their MWU e-mail address.

Once all students complete the application, the Office of Student Financial Services will takes the following steps to finish the financial aid process.

Determination of Awards

The process of awarding financial aid using a priority system is termed "packaging." Packaging begins with the consideration of gift assistance, including Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (SEOG), National SMART Grant, and scholarship monies. Students who met the financial aid priority deadline dates will be considered for the Federal Perkins Loan and the Midwestern University Need Based Scholarship Program, based on financial need and availability of funds. All students requiring further assistance must apply for a Federal Stafford Loan. High-interest loans, such as Federal Parental Loans for Undergraduate Students (PLUS), Federal Graduate PLUS loan, or private loan programs, are considered as a last resort to fulfill a student's unmet need.

Borrowers must be credit-worthy and have a good credit history to qualify for the PLUS and/or private loan programs. Students who are unable to obtain one of these loans will have to rely on their personal resources to finance the balance of their educational costs.

Notification of Awards

When the packaging process has been completed, and prior to the beginning of the award year, an Award Letter will be sent electronically to each student via the University e-mail system.

The Award Letter lists the maximum amount of aid from each federal, state, and institutional program the student may receive and indicates the approximate amount of funds the student will receive each quarter.

Beyond the sources of assistance indicated on the Award Letter, students may — and should — seek out private scholarships. In addition, students with no other options may seek guidance from the Office of Student Financial Services [link to new page 0067].

Disbursement of Funds

Financial aid funds generally are sent from the lender or sponsor directly to the University Accounts Receivable Representative by check or by electronic funds transfer (EFT). Checks are held for student endorsement, then credited to the student's tuition account one week after the beginning of each quarter. A portion of the proceeds of each financial aid program will arrive at the University each quarter. Any excess funds are refunded to the student in the form of a check or direct deposit. Refund checks can be deposited directly into a student's checking or savings account upon request. In accordance with federal regulations, the disbursement of financial aid funds must coincide with academic terms as indicated on each student's financial aid Award Letter, which will occur on a quarterly basis. In accordance with University policy, private loan funds are treated in the same manner.