Financial Aid FAQs
What are some important deadlines of which I should be aware?
Feb 15 - FAFSA should be completed
August 15 - Stafford Direct Loan/Perkins Loan Entrance Counseling and Master Promissory Notes (MPN) should be completed
How certain can I be that I will receive some type of financial aid?
Approximately 98% of our students receive some type of financial aid, including merit and need-based scholarships, grants, loans, and employment.
When will I hear from the financial aid office?
The Student Financial Services Office begins to process financial aid awards in early March. Please read, complete, and return award notices as quickly as possible.
My family's financial circumstances have changed and I need more money. What do I do?
Talk to a financial aid counselor about Professional Judgment. Milligan College uses every resource and opportunity to assist students financially. Though the financial aid offer cannot be "negotiated," special situations (such as death of a parent, loss of a job, severe illness, natural disaster, etc.) can be taken into consideration.
Do I have to reapply for financial aid every year?
Yes. Any student wishing to receive federal, state, and/or need-based Milligan aid must file the FAFSA and complete the Milligan College Financial Aid/Scholarship Renewal Application every year.
How many semesters can I receive financial aid?
You may receive federal financial aid for up to 6 years or 150% of the normal time frame it takes to complete a degree program.
Am I eligible to file as an independent student without my parents information?
According to the federal government, a student is considered independent if he/she is at least one of the following:
If a student does not meet at least one of these criteria, he or she must be considered a dependent student, even if the student is not living with his or her parents.
How do outside scholarships affect my aid?
Outside scholarships will be counted as a resource as required by federal law, but will not affect the amount of institutional aid you receive.
What is verification?
The federal government requires some students to verify the information reported on their FAFSA. Colleges are responsible for performing this verification and must do so before federal funds can be disbursed.
What is a Direct Stafford subsidized vs. unsubsidized loan?
Federal Direct Stafford Loans are either subsidized or unsubsidized. Your total award may include subsidized and/or unsubsidized loans for the same enrollment period.