MNU SCHOOL CODE
MidAmerica Nazarene University
2030 East College Way
Olathe, KS 66062-1899
Mon. – Fri. 8:00am – 5:00pm
Disclosures & Policies
MidAmerica Nazarene University’s Office of Student Financial Aid Services abides by the National Association of Student Financial Aid Administrators (NASFAA) Statement of Ethical Principles. These principles are as follows.
Code of Ethics
Financial aid professionals at MidAmerica Nazarene University shall:
- Be committed to removing financial barriers for those who wish to pursue post-secondary learning.
- Make every effort to assist students with financial need.
- Be aware of the issues affecting students and advocate their interests at the institutional, state, and federal levels.
- Support efforts to encourage students, as early as the elementary grades, to aspire to and plan for education beyond high school.
- Educate students and families through quality consumer information.
- Respect the dignity and protect the privacy of students and ensure the confidentiality of student records and personal circumstances.
- Ensure equity by applying all need analysis formulas consistently across the institution’s full population of student financial aid applicants.
- Provide services that do not discriminate based on race, gender, ethnicity, sexual orientation, religion, disability, age, or economic status.
- Recognize the need for professional development and continuing education opportunities.
- Promote the free expression of ideas and opinions, and foster respect for diverse viewpoints within the profession.
- Commit to the highest level of ethical behavior and refrain from conflict of interest or the perception thereof.
- Maintain the highest level of professionalism, reflecting a commitment to the goals of the National Association of Student Financial Aid Administrators.
MNU shall not assign any first-time borrower’s education loans, through award packaging or other methods, to a particular lender. Nor shall the University refuse to certify, or delay certification of, any loan based on the borrower’s selection of a particular lender or guaranty agency.
No officer, employee, or agent of MidAmerica Nazarene University shall solicit or accept any “gift” from a lender, guarantor, or servicer of education loans. “Gift” includes any gratuity, favor, discount, entertainment, hospitality, loan, or other item having monetary value of more than a de minimus amount. This prohibition also applies to gifts to family members of the above individuals when the gift was given with the knowledge and acquiescence of such individual, and the individual has reason to believe the gift was given because of such individual’s official position.
MidAmerica Nazarene University will not enter into any “revenue-sharing arrangement” with any lender. A “revenue-sharing arrangement” is an arrangement whereby the University recommends to students and family a lender of educational loans, and then in exchange, the lender pays a fee or provides other material benefits, including revenue or profit-sharing, to the University, or an officer, employee, or agent of the University.
The Office of Student Financial Aid Services uses a standard academic year for students enrolled in our traditional program. This year spans two enrollment terms (semesters).
For undergraduates, the terms total at least 30 weeks of instruction. A full-time student is expected to complete at least 24 credit hours during an academic year. Graduate Academic Years are a total of three terms for a total of 28 weeks of instruction.
Undergraduate Full-time status is defined as taking 12 or more credits in a semester. Three-quarter-time status is defined as taking less than 9 credit hours in a semester. One-half-time status is defined as 6 credit hours a semester. Only the Federal Pell Grant is available for qualified students taking fewer than 6 credit hours a semester. Graduate Full-time status is defined as taking 6 or more credits in a semester. One-half-time status is defined as 3 credit hours a semester.
To maintain eligibility for financial aid, a student must make adequate academic progress toward his or her degree. Eligibility for federal financial aid is terminated if a student takes longer than 150% of the time established to complete his/her course of study. Students must successfully complete 66.67% of attempted cumulative credits.
For students transferring to MNU, the total number of credit hours accepted by MNU will be included in the number of attempted and completed credit hours in calculations for Satisfactory Academic Progress.
All undergraduates must achieve the following cumulative grade point average (GPA) to maintain financial aid Satisfactory Academic Progress. These cumulative GPA requirements are monitored at the end of each semester.
See the entire Satisfactory Academic Process Policy.
- Students owing the University at the end of a semester will not be permitted to enroll for another semester without making satisfactory financial arrangements with the Bursar.
- Transcripts will not be released until all accounts have been paid in full and Perkins loans, if any, are in good standing. When clearing a past due student account to receive a transcript, payment must be made by cashier’s check, credit card or personal money order if immediate clearance is needed. If payment is made by personal check, a waiting period of 15 days is necessary for the check to clear the bank.
- Graduating students must have their accounts paid in full before participating in graduation exercises and receiving diplomas.
- All financial aid must be applied to the account balance before the student receives credit balances.
- Institutional scholarships must be applied to tuition, fees, and residential charges. After these charges are paid, any excess amount will be returned to the scholarship fund. Cash refunds can only be created by outside funded scholarships or loans.