Applying for Financial Aid

Downers Grove, IL Campus

Budget and Cost of Attendance

Each program at Midwestern University has an established budget or Cost of Attendance (COA as it is commonly referred to). Budgets are designed to primarily cover a student's educational and living expenses while in school; if enrolled for nine months, for example, the budget covers the expenses for that period. The standard budget for each program is developed using federal guidelines that allow for a reasonable standard of living for students within the community. Each year the major components of the budget are reviewed and modified based on changes in costs. To further augment and validate the expenses included in the budget, Midwestern University periodically surveys students in the fall to gather actual expenses being incurred.

Representative major categories included in every budget include:

• Tuition and Fees
• Books and Supplies
• Health and Disability Insurance
• Food
• Transportation Expenses
• Housing
• Utilities
• Personal Expenses

Some programs may include technology and equipment fees as well. In all instances, federal regulations govern what is or is not allowed in budgets.

While most students find it necessary to borrow to pay for their education, we highly encourage students to live as modestly as possible in an effort to minimize debt following graduation by utilizing our "Thrifty Budget". Good choices now can lead to financial freedom down the road. The staff in the Office of Student Financial Services is available to discuss any questions surrounding budgets.

On-Line Application Process

On-line application instructions for the upcoming financial aid award year are made available on an annual basis to each continuing class of students. All accepted students who have paid their matriculation deposit will receive on-line application instructions for the upcoming academic year. Accepted applicants will also have electronic access to other relevant financial aid resources provided on the University website.