Financial Aid - Frequently Asked Questions

1. What is Mount Union’s Federal School Code?
2. Can I work on campus?
3. What if I'm selected for verification for 2016-2017?
4. What happens if my financial situation changes?
5. What would cause my aid award to change?
6. What happens to my charges and financial aid if I decide to withdraw after classes have started?
7. How often do I need to apply for financial aid?
8. What aid is available in the summer?
9. What if I decide to change my housing status?
10. What if I receive an outside scholarship?

 

1. What is Mount Union’s Federal School Code?
   The Federal School Code for Mount Union is 003083.
   
   
2. Can I work on campus?
   Federal Work Study is a need-based fund awarded to the student. Not all students are eligible for this program. The Office of Student Financial Services will determine eligibility. If Federal Work Study is indicated on a student’s financial aid award, the amount listed is the MAXIMUM amount the student may EARN working on-campus or in off-campus community service jobs sponsored by the University. Monthly earnings (minimum wage rate) go directly to the student and can be used as payment toward the student account or used as spending money while at school. Find out more about Federal Work Study.
   
   
3. What if I'm selected for verification for 2016-2017?
   If you are selected for verification, we are required to collect documentation to confirm the information on your FAFSA. This will include a few verification forms that will be mailed to the student’s home address and your tax information. If you are a dependent student, you will also need to provide your parent’s tax information. Find out more about verification.
   
   
4. What happens if my financial situation changes?
   Contact the Office of Student Financial Services if any significant changes occur that affect your financial situation for 2016. Some examples include but are not limited to: divorce or separation of parents, loss of a job, loss of untaxed income, increased uninsured medical expenses, or tuition paid to private elementary or high schools.
   
   
5. What would cause my aid award to change?
   Adjustments may be the result of updating information on the FASFA or submitting documents such as verification or special circumstance forms. In addition, inaccurate information, notification of additional aid from outside sources, certification of PLUS or private (alternative) education loans or a change in state grant amounts could also cause financial aid adjustments. Amounts could vary due to changes in federal, state or University funding. Students will be notified about financial aid revisions via their Mount Union email.
   
   
6. What happens to my charges and financial aid if I decide to withdraw after classes have started?
   A student who plans to withdraw for the remainder of the semester, after classes have started, initiates the process by completing the Withdrawal Form in the Office of Student Affairs.
   
   Charges and financial aid earned are determined by a calculation based on the number of calendar days (including weekends) that the student is enrolled on campus in direct proportion to the period of enrollment (number of calendar days in the semester). The student who withdraws after 60 percent of the enrollment period will be charged for the whole semester and will be eligible for all financial aid based on the semester costs.
   
   Students who are considering dropping from full-time (minimum of 12 hours per semester) to part-time must consult with the Office of Student Financial Services for resulting changes in financial aid.
   
   
7. How often do I need to apply for financial aid?
   Students must apply for financial aid EACH academic year. Students are encouraged to file online at www.fafsa.gov. We recommend filing no later than March 1st to ensure receiving a financial aid package in a timely manner.
   
   Please note: The 2017-2018 FAFSA will be available October 1, 2016 and will use 2015 tax information. 
   
   
8. What aid is available in the summer?
   Students may be eligible for federal or state funds depending on summer enrollment (the number of credit hours enrolled for any or all three summer sessions) and on your projected fall and spring semester enrollment for the upcoming year. Please contact the Office of Student Financial Services for details.
   
   
9. What if I decide to change my housing status?
   If your housing status (on campus, off campus, commuter) changes, you should expect that your financial aid will change. The Office of Student Financial Services will provide a financial aid estimate to students who are considering a housing change. Complete an “Off Campus or Commuter Request” on iRaider, and you will receive a financial aid estimate via your Mount Union email within 2 weeks.
    
   Please note: There is a freshman/sophomore residency requirement. If you have completed a request in the past and lived off campus, you do not need to complete one again.
10. What if I receive an outside scholarship?
    Students are required to inform 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 campus employment will be reduced before any need-based awards. The amount of the non-Mount Union scholarship will always show as estimated on the financial aid award, but once the payment has been received, it will show as a credit to the student's account.