Midwestern University Home

Resources

Financial Aid: Application Process


The Office of Student Financial Services at Midwestern University (MWU) 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 our online internal website to make your matriculation deposit. Once the first deposit is received, you will have access to our "Financial Services" tab where you will find all the requirements and information to apply for financial aid. You will also be provided a new secure MWU email account. Make sure you check your email right away because our office will send you a message with brief instructions for the online application process, and we will communicate through your MWU email account from here on out.

For Continuing Students:
The Office of Student Financial Services will continue to email the online application instructions to all students through your MWU email account. Once students have completed the application, the Office of Student Financial Services will take the following steps to finish the financial aid process.

Determination of Awards

"Packaging" is the term used for the process of awarding financial aid. Using a priority system, packaging begins with the consideration of gift assistance and scholarship monies. Those who meet the financial aid priority deadline date will be considered for a Federal Perkins Loan and may be considered for any need-based scholarship programs depending on availability of funds. Finally, students who require loans must apply for a Federal Stafford Loan. Higher-interest loans such as Federal Graduate PLUS or private loan programs are considered as a last resort to fulfill students' unmet need.

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

Notification of Awards

When paperwork has been properly completed, Award Letters are sent to your MWU email account based on program start dates: Summer start programs generally receive Award Letters beginning in early May; Fall start programs generally begin receiving them in June.

The Award Letter shows the Cost of Attendance budget according to the student's program /class, and the total annual Financial Aid Awards the student may receive from each federal, state, and institutional program. Total "gross" aid is divided into quarters on the Award Letter - net amounts are posted to the student's Statement of Account.

Beyond the sources of assistance indicated on the Award Letter, students may - and should seek out private scholarships.   

Disbursement of Funds

Financial aid funds generally are sent directly to Midwestern University's Accounts Receivable Department by electronic funds transfer (EFT). An equal portion of the proceeds from each financial aid program will arrive at the University each quarter. Any excess funds are refunded to the student in the form of direct deposit. 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


Bookmark and Share