Financial Aid Handbook
Adjustments may be the result of submitting documents such as verification worksheets, federal tax return transcripts or Special Circumstance applications. In addition, inaccurate information, notification of additional aid from outside sources, origination of PLUS or private loans could result in changes. Amounts may vary due to changes in federal, State or University funding of programs. Students should anticipate their aid will change as a result of a change in housing status. All students will be notified of any change by e-mail.
Change in Financial Situation
Contact the Office of Student Financial Services if any significant changes occur that affect your financial situation for 2017, such as divorce or separation of parents, loss of income, increased paid medical expenses or tuition paid to private elementary or high schools. You will be asked to complete a Special Circumstance Appeal Form, complete the verification process and submit supporting documentation.
Mount Union scholarship and grant eligibility is determined upon acceptance to the University and completion of the Free Application for Federal Student Aid (FAFSA). The following information describes eligibility criteria for the various federal, state and institutional funds that are available through Mount Union.
Financial Aid and Off-Campus Housing Policy for Students Admitted Prior to Fall 2018
Traditional undergraduate and transfer students living off campus during the Fall 2017 semester are grandfathered into their current financial aid package.
Traditional undergraduate and transfer students residing on campus and admitted prior to Fall 2018 who wish to move off campus will have a reduction in their institutional need based grant (UMU Grant or Methodist Grant) up to $3000. If a student receives less than $3000 in an institutional need based grant, the full award will be removed from their package. Students receiving a combination of federal, state, and institutional funds over the cost of tuition should reference the Institutional, Federal, and State Awards Over the Cost of Tuition Policy, regarding a change in their financial aid package.
Financial Aid and Off-Campus Housing Students Admitted in Fall 2018 or Later
Traditional undergraduate and transfer students residing on campus will have a $3000 reduction in their institutional aid if they decide to move off-campus. Students receiving a combination of federal, state, and institutional funds over the cost of tuition should reference the Institutional, Federal, and State Awards Over the Cost of Tuition Policy, regarding a change in their financial aid package.
Institutional, Federal, and State Awards Over the Cost of Tuition Policy
The maximum institutional award cannot equal more than full tuition. However, if students choose to live in campus housing and receive federal and state awards, the institutional awards can be used towards room and board. If the combination of federal, state, and institutional awards equal more than full tuition, the federal and state awards are applied to tuition and the institutional funds are applied to the remaining amount of tuition, room and board. If a student chooses not to live in campus housing or have a meal plan and the combination of federal, state, and institutional awards equal more than full tuition, the institutional award is reduced by the amount that is over full tuition. If a student chooses not to live in campus housing but have a meal plan and the combination of federal, state, and institutional awards equal more than full tuition and board, the institutional award is reduced by the amount that is over full tuition and board. Institutional funds cannot be used towards off campus room and board costs.
Non-Mount Union Scholarships
Students are required to notify the Office of Student Financial Services when an outside scholarship is received. A copy of the scholarship award letter, certificate or check can serve as notification of this award. If any adjustment to the aid award must be made, loans and employment will be reduced before any need-based awards.
Policy for Multiple Merit Awards
A merit-based scholarship or award is offered without regard for financial need. Students who may be eligible for multiple Mount Union scholarships and awards will receive at least the value of the highest scholarship or award.
Consideration that is given for any portion of a second scholarship or award from Mount Union will be based on financial need and will require that the student file the Free Application for Federal Student Aid (FAFSA). The maximum award equals full tuition; students who receive a full tuition scholarship are not eligible for additional Mount Union scholarships or awards. All University scholarships, awards, and grants are coordinated through the Office of Student Financial Services.
Following the NCAA Division III philosophy, the University of Mount Union does not offer athletic scholarships. The University does award scholarships and financial aid for student athletes on the same basis as it does for every other Mount Union students.
Maintaining your Federal Financial Aid Eligibility:
Satisfactory Academic Progress
Federal regulations require the University of Mount Union to establish Satisfactory Academic Progress (SAP) standards for students receiving federal financial aid. In order for a student to continue receiving federal financial aid, the student is required to meet three standards of academic progress each academic year.
- Completion Rate (at least 67% of the credit hours attempted are earned)
- Cumulative GPA (see handbook for minimum GPA requirements per credit hours attempted)
- Maximum Timeframe (must complete degree within 150% of the published length of the program)
The Office of Student Financial Services will review the SAP standards of each student at the end of the spring semester. Students will be notified if/when they are not meeting the standard(s). Information concerning the appeal process will be included. Details about the SAP policy can be found in the University’s catalog.