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

• A Federal Pell Grant, unlike a loan, does not have to be repaid.
• The maximum Federal Pell Grant for the 2023-2024 award year (July 1, 2023 to June 30, 2024) is $7395.
• 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.

Awarded to students with high financial need with priority given to Pell recipients. This system works differently from the Federal Pell Grant Program, which provides funds to every eligible student. Since MNU receives a limited amount of FSEOG funds each year from the U.S. Department of Education’s Office of Federal Student Aid, complete your FAFSA early so your eligibility can be determined before funds are exhausted.

• Annual FSEOG awards range from $500 to $1000
• MNU students must be enrolled at least 1/2 time to be eligible for FSEOG.

Direct Loans are low-interest loans for undergraduate students that help pay for the cost of an 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 paid by the Department of Education while the student is enrolled on a half-time or greater basis. The maximum award offered is based on the results of your FAFSA, the cumulative credit hours completed and subject to overall borrowing limits. Repayment begins six months after student graduation or when a student falls below half-time status.

Unsubsidized loans are available to students regardless of financial need. A student must be enrolled at least half-time to be eligible. Unsubsidized loan interest is calculated and begins accruing when the loan is disbursed to the student’s MNU account. Eligible students who have completed the FAFSA for the appropriate academic year are automatically evaluated for the Unsubsidized Stafford Loan.

Please note: If you are a dependent student whose parent was DENIED a Parent PLUS Loan (described below), you may be eligible for additional unsubsidized loan amounts. For more information on Direct Unsubsidized Loans, go to Federal Student Aid.

Parent PLUS loans are federal loans that parents of dependent undergraduate students, regardless of income, can use to help pay education expenses.

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

Repayment is generally required once the loan is fully disbursed but parents may request in-school forbearance to delay the start of payments. To receive a PLUS loan, the student must be enrolled at half-time or greater and a FAFSA is required to be on file.

Federal work study jobs are part-time jobs for undergraduate students with financial need. A limited number of such jobs are available. These jobs allow you to earn money to help pay education expenses.

• Provides part-time employment while you are enrolled in school.
• Based upon financial need.
• Your federal work study does not appear as a credit toward your college expenses on your financial aid letter since the amount must be earned while you are enrolled. You must elect to apply the funds earned toward your educational expenses.

At MNU you may work part-time on-campus or part-time as a tutor in an approved off-campus program. Students who receive the Federal Work Study award will receive that award in the form of a paycheck, which will be earned as their employment and timesheets are completed throughout the semester. To be considered for Federal Work Study, students must complete the FAFSA each year and have demonstrated financial need.

Requirements for Participation:

• Complete an On-Campus Employment Application
• Maintain at least half-time enrollment status each semester
• Maintain Satisfactory Academic Progress

Students may be required to go through an interview process to be hired for a position, and eligibility for the program does not guarantee that a student will be hired.

Contact Student Financial Aid Services to see if you qualify for the FWS program and for on-campus job possibilities.