The following are answers for some of the most often asked financial aid questions.
Financial Aid FAQS
What is Mount Union’s Federal School Code?
The Federal School Code for Mount Union is 003083.
What if I have a dispute about my federal student aid?
If we are unable to answer your questions or resolve your issues concerning your federal aid, the Department of Education Ombudsman Group is available to respond to your concerns.
Federal Student Aid Ombudsman Group
Mail: FSA Ombudsman Group
P.O. Box 1843
Monticello, KY 42633
Can I work on campus?
All students are eligible to work an on-campus job even if Federal Work Study is not listed on their package. 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 Aid 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 go directly to the student and can be used as payment toward the student account or used as spending money while at school.
What if I'm selected for verification?
If you are selected for verification, we are required to collect documentation to confirm the information on your FAFSA. This will include a verification form and your tax information. If you are a dependent student, you will also need to provide your parent’s tax information.
What happens if my financial situation changes?
Contact the Office of Student Financial Aid if any significant changes occur that affect your financial situation. 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.
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, change in housing, or a change in state grant amounts could also cause financial aid adjustments.
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.
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 studentaid.gov. We recommend filing no later than March 1 to ensure receiving a financial aid package in a timely manner.
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 either or both summer sessions) and on your projected fall and spring semester enrollment for the upcoming year. Please contact the Office of Student Financial Aid for details.
What if I decide to change my housing status?
If your housing status changes, you should expect that your financial aid will change. If you change from on-campus to off-campus or commuter, your financial aid will be reduced by $3,000 per year ($1,500 per semester). There may be other changes to your financial aid as well. Please contact the Office of Student Financial Aid for a financial aid estimate if you are considering a housing change.
Please note: There is a freshman/sophomore residency requirement. You will need to complete a petition for off-campus residency through the Office of Residence Life, and you may be required to meet with a Financial Aid Representative. If you have completed a request in the past and lived off-campus, you do not need to complete one again.
What if I receive an outside scholarship?
Students are required to inform the Office of Student Financial Aid when an outside scholarship is received. Students can now self-report their outside scholarships through Colleague self-service. 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.