Tuition & Financial Aid

Tuition
Tuition for the Milligan MSOT program for 2008-09 is as follows:

Click here for more information on tuition and fees.
 

Financial Aid Information

• Apply for federal financial aid using the Free Application for Federal Student Aid (FAFSA). You may apply online at www.fafsa.ed.gov. Brochures are available to assist you in requesting a pin and completing the process online.
   
• You must apply for federal financial aid each year. All awards are based on a full-time enrollment status.
   
• It is important to use the correct year's FAFSA when applying. Graduate and ADCP students beginning their programs in Fall 2008 or Spring 2009 should complete the 2008-2009 FAFSA now in order to be awarded for terms in this academic year, and the 2009-2010 FAFSA after January 1, 2009, for subsequent terms.
   
• In addition to filing the FAFSA, each student must complete a Milligan College Financial Aid Application and return it to Student Financial Services. You will be requested to complete this application each year.
   
• Graduate students are generally eligible for federal student loans only (Perkins, Stafford and Graduate PLUS Loans).
   
• If your program begins in Fall or Spring, you are awarded for two semesters in your academic year. The financial aid is disbursed in two disbursements, one at the beginning of each semester.
   
• Financial aid awards are adjusted if the student drops or adds credit hours during the drop/add period.
   
• TYPES OF AID AVAILABLE:
  
  A. LOANS (must be repaid, with interest)

Federal Perkins Loan
Federal Perkins Loans are need-based and must be repaid. This low interest (5%) loan requires you to begin repayment 9 months after you cease half-time enrollment status. No interest or repayment is required while the student is enrolled in at least half-time enrollment status. This loan requires that Entrance Loan Counseling be completed for all borrowers and Exit Loan Counseling for all borrowers who are graduating or not returning to Milligan. After signing a Federal Perkins Loan Master Promissory Note, one-half of your annual Federal Perkins Loan award will be credited to your student account each semester. Click here for more details.

Federal Stafford Loans: Subsidized and Unsubsidized
Federal Subsidized and Unsubsidized Stafford Loans must be repaid. The Subsidized loans are need-based and the government pays the interest while the student is in college. The Unsubsidized loan is available to all students and the interest accrues while the student is in college. These loans require Entrance Loan Counseling for all first time borrowers and Exit Loan Counseling for all borrowers who are graduating, not returning to Milligan, or have dropped below at least a half-time enrollment status. Your loan funds will be received by the college via electronic funds transfer (EFT). Stafford loans are disbursed in two equal disbursements for the academic year. You will receive a notification indicating the amount of loan that has been credited to your account and a notice giving you the opportunity to reduce and/or cancel the loan in writing within 14 days of receiving your notification. Please refer to information regarding loan terms, interest, repayment and deferments listed in another section of this booklet. Click here for more details.

Federal Parent Loan for Undergraduate Students (PLUS)
and Graduate Students
A Federal PLUS Loan is a credit-based loan for parents of undergraduate students and for graduate students. It must be repaid. Graduate students may benefit from using the PLUS loan as opposed to an alternative loan because students may not qualify for an alternative loan based on credit history, or the interest rate may be higher than the 8.5% PLUS Loan interest rate. The Graduate PLUS Loan requires Entrance Counseling for all first-time borrowers and Exit Loan Counseling for all borrowers who are graduating, not returning to Milligan, or who have dropped below at least half-time enrollment status. If you need assistance in determining the amount to borrow, please contact Student Financial Services. If you borrow through the PLUS Loan Program, your loan funds will be received by the college, via electronic funds transfer (EFT) and the proceeds will be disbursed directly to the student's account in two equal disbursements for the academic year. Click here for more details.

B. PRIVATE SCHOLARSHIPS

Click here for more information

Payment of Your Account

• Tuition, fees, and all other costs for each semester are due and payable on the due date listed on the statement. If financial aid has been awarded, you pay only the portion of the bill outstanding after deducting financial aid.
   
• Students may pay their student account balance online at www.milligan.edu/sfs using e-check, credit card or savings account information. We accept Visa, MasterCard, Discover, and American Express.
   
• If you are receiving tuition reimbursement from your employer, you must present a letter from your employer stating the company's reimbursement policy. Please have your name listed on this information. You can mail this information to the Student Financial Services Office or bring it with you to orientation. If we do not have the information at the beginning of the term, you are responsible for paying your tuition before beginning classes.
   
• Milligan College also offers a special payment plan for students who desire to pay educational expenses in monthly installments. This plan can be used to pay expenses not covered by financial aid. This is an interest-free payment plan available through Tuition Pay. You can contact Tuition Pay at 1-800-635-0120 or you can enroll online at www.tutionpay.com.
   
• Credit refunds are mailed to students weekly after the drop/add period (usually the third week of classes) of each semester to allow Student Financial Services to verify the enrollment of each student receiving financial aid and make any adjustments necessary based on enrollment status.

Contact Information:

Student Financial Services
PO Box 250
Milligan College, TN 37682
Ph: 800-447-4880 or 423-461-8949
Fax: 423-929-2368
SFS@milligan.edu

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