Financial Aid

MNU school Code:
007032

Types of Aid


For Undergraduate Degree-Completion Programs

Pell Grants are awarded to students who demonstrate high financial need. 

  • A Federal Pell Grant does not have to be repaid. 
  • The maximum Federal Pell Grant for the 2017-2018 award year (July 1, 2017 to June 30, 2018) is $5920.
  • The amount of your award depends on your financial need, costs to attend school, status as a full-time or part-time student, and plans to attend school for a full academic year or less. 

Direct Loans are low-interest loans for students that help pay for the cost of your MNU education. The lender is the U.S. Department of Education. These loans are available to students who demonstrate need on the FAFSA. Students must be enrolled at least half-time to be eligible for this loan. 

Interest is subsidized by the Department of Education while the student is enrolled on a half-time or greater basis. The maximum award amount awarded to a student varies as a function of financial need and federally mandated grade level. Repayment begins six months after student graduation or when a student falls below half-time status. 

For more information on Direct Loans, go to www.studentloans.gov

Unsubsidized loans are available to students regardless of financial need. A student must be enrolled at least half-time to be eligible. Interest accrues and is calculated only on paid disbursements. Eligible students who have completed the FAFSA for the appropriate academic year are automatically evaluated for the Unsubsidized Stafford Loan. 

Direct Unsubsidized Loans for degree-completion students have a limit of up to $12,500 per academic year. 

For more information on Direct Loans, go to www.studentloans.gov.

PLUS loans are federal loans  for parents of dependent undergraduate students. To be eligible for a PLUS Loan, the student must be enrolled at half-time or greater and a FAFSA is required to be on file. 

  • The U.S. Department of Education is the lender. 
  • The borrower must have a good credit history.
  • The maximum loan amount is the student’s cost of attendance, determined by the school, minus any other financial aid received. 

A private loan (alternative loan) should be considered to meet out of pocket expenses only when there is no other viable federal student loan option available. Private loans are credit based, and often require a creditworthy co-signer when borrowed in the student’s name. Parents can apply for a loan in their name, but should compare costs and loan terms to the Federal Parent Loan for Undergraduate Students (PLUS). 

MidAmerica Nazarene University cannot recommend specific lenders.  Borrowers should research the market to find the best loan available for their needs. To assist in your search, we have gathered a historical list of lenders other MNU students have chosen. This list can be found at https://choice.fastproducts.org/FastChoice/home/703200/ and used to compare terms and conditions of the lenders included on the list and provides links to the application process.   You may use other lenders who offer private educational loans not on our list.  

We encourage you to learn more about private loans before you borrow. This information can be found at http://www.finaid.org/loans/privatestudentloans.phtml

For Graduate Programs and Certifications

Unsubsidized loans are available to students regardless of financial need. A student must be enrolled at least half-time to be eligible. Interest accrues and is calculated only on paid disbursements. Eligible students who have completed the FAFSA for the appropriate academic year are automatically evaluated for the Unsubsidized Stafford Loan. 

Direct Unsubsidized Loans for Graduate students have a limit of up to $20,500 per academic year. 

For more information on Direct Loans, go to Federal Student Aid

Graduate PLUS loans are federal loans that are available to Graduate students to help pay education expenses. To receive a Graduate PLUS Loan, the student must be enrolled at half-time or greater and a FAFSA is required to be on file. 

  • The U.S. Department of Education is the lender. 
  • The borrower must have a good credit history.
  • The maximum loan amount is the student’s cost of attendance, determined by the school, minus any other financial aid received. 
     

A private loan (alternative loan) should be considered to meet out of pocket expenses only when there is no other viable federal student loan option available. Private loans are credit based, and often require a creditworthy co-signer when borrowed in the student’s name. Parents can apply for a loan in their name, but should compare costs and loan terms to the Federal Parent Loan for Undergraduate Students (PLUS). 

MidAmerica Nazarene University cannot recommend specific lenders.  Borrowers should research the market to find the best loan available for their needs. To assist in your search, we have gathered a historical list of lenders other MNU students have chosen. This list can be found at https://choice.fastproducts.org/FastChoice/home/703200/ and used to compare terms and conditions of the lenders included on the list and provides links to the application process.   You may use other lenders who offer private educational loans not on our list.  

We encourage you to learn more about private loans before you borrow. This information can be found at http://www.finaid.org/loans/privatestudentloans.phtml
 

Office of Admissions
13563 South Mur-Len Rd.
Olathe, KS 66062
Student Financial Aid Services
MidAmerica Nazarene University
Campus Center
2030 E. College Way
Olathe, KS 66062-1899
Office Hours
Mon.-Fri.

The MNU School Code is: 007032

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