Financial Need

Financial need is defined as the difference between educational costs and the available family resources. Cost of attendance, minus the family, or student contribution equals financial need.

Financial Aid Package

The total amount of financial aid you can receive from federal and non-federal sources (such as loans, grants, or work study) is combined in a financial aid "package" to help meet your costs of attending college. The Office of Student Financial Aid will use all available resources to provide you the best possible package.

Disbursement of Funds

In most cases, awards will be made for the academic year with one-half of the amount being applied to your account each semester.  If your award includes the Federal Perkins, Health Professions Student Loan (HPSL) and/or Primary Care Loan (PCL) funds, you must complete an Entrance Interview before funds can be disbursed. The Office of Student Financial Aid will prepare an entrance interview form, authorizing the Office of the Treasurer to credit your account with funds received from the Federal Perkins, Health Professions Student Loan (HPSL) and/or Primary Care Loan (PCL). You must sign your Promissory Note in the Office of the Treasurer before the funds can be credited to your student account from all of these programs. The Federal Work-Study is paid bi-weekly and time sheets must be submitted to the FWS Coordinator by the specified date. Awards made to students who fail to enroll will be cancelled, and all funds returned to the respective lender.

Eligibility and Disbursement of Funds

Before refunding any tuition or fees to students, the Office of the Treasurer shall examine all student financial obligations to the College, (i.e., tuition, fees, rent, dental storeroom, bookstore, library, etc.,) as well as, matured and/or past due loans.

For more information contact:

Student Financial Aid
(615) 327-6826
financialaid@mmc.edu