MNU SCHOOL CODE
MidAmerica Nazarene University
2030 East College Way
Olathe, KS 66062-1899
Mon. – Fri. 8:00am – 5:00pm
Disclosures & Policies
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.
Verification is a procedure in which some students are requested to document certain data elements on the FAFSA—including but not limited to income and family size. Primary documents collected are the IRS transcripts for the student and the parents if the student is a dependent. A verification worksheet must also be completed.
MidAmerica Nazarene verifies all students who are selected by the Department of Education and may use its discretion in selecting students for verification. If selected for verification, no Federal financial aid funds will be credited to a student’s account until the verification process is complete.
To order 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.