Receiving your funds

Disbursement of Financial Aid

At MNU, financial aid is generally awarded for the academic year (Fall and Spring) and disbursed one-half each semester. Students must have completed the following requirements before aid can be disbursed, or paid toward the student’s MNU charges.

• Student must have ALL Admission requirements completed and be in an eligible program of study.
• Student must have ALL financial aid requirements satisfied and have all aid accepted. Login to your MNU account to accept/decline awards and monitor requirements.
• Student must be enrolled in the correct number of hours for each financial aid program.

Financial Aid will be disbursed after enrollment is closed, usually about two weeks after the beginning of each term, AND if all the above conditions are met.

Purchasing of Books

MNU has partnered with MBS Direct to provide the best ervice and textbook source for MNU students. MBS Direct can be accessed from the Merc webpage at www.mnu.edu/themerc, the link can be found at the bottom of this page.

Most students should be prepared to pay with debit or credit card when they order their books. Undergraduate students who are receiving financial aid in excess of their student account for a semester may requests a book voucher. All admissions requirements (for new students) and all financial aid requirements must be satisfied before a book voucher will be processed. A student’s registration must be finalized at the Cashier’s office before a voucher will be processed.

Students are free to order their books form any source; however they must use a MBS Direct in order to make use of the book voucher. Book vouchers are limited to the amount of student’s expected credit balance or $1,000 whichever is lower. A 10% allowance for taxes will also be deducted from the book voucher amount.

Book Voucher Process

Book voucher processing will begin approximately three weeks before the beginning of the semester. Oucher request from students who have no completed all of the requirements will be held until they are all met. Voucher request wills not be processed after the first week of registration. Vouchers are normally processed twice a week (more often as registration gets closer). Once processed, the student will receive a voucher number from MBS Direct at their MNU financial aid email address. The students can then use this number to “pay for” their books. Each week, MBS Direct bills MNU and the amount of each order, plus shipping and tax, will be added to the appropriate student account.

Using a book voucher could cause a portion of the student’s credit balance to be held until MNU receives the billing invoice from MBS. Once the cost of the books, tax and shipping are added to the student account, the remainder, in any, of the credit balance will be refunded.

Book voucher request for students in traditional undergraduate programs

Book voucher request for students in adult programs (MHR, BBA, PA and AA)

Refund Checks

Refund checks will be issued by the Cashier’s Office if your financial aid overpays your student charges and creates a credit balance. Overpayments are usually reviewed on Tuesdays and refund checks are available for pick-up after 2:30 p.m. on Wednesdays.