Commonly Asked Questions and Answers about Financial Aid at Muhlenberg College
Q: How do I qualify for financial aid?
A: Eligibility for federal, state and institutional financial aid is determined by a student's annual filing of the Free Application for Federal Student Aid (FAFSA) and the College Scholarship Service's (CSS) Financial Aid PROFILE form. Muhlenberg College's deadline for filing these forms is February 15.
Q: What is the income cut-off for financial aid?
A: There is no income cut-off for financial aid. The amount of financial aid you will receive is determined by your family's financial need as calculated by your filing of the CSS Financial Aid PROFILE form and FAFSA. These applications do look at the parents' and student's income and assets, however, they also look at the size of the family, the number of family members in college, and the age of the oldest parent. Muhlenberg College also takes into account the size of your unreimbursed medical expenses, expenses for private secondary school education, and home equity.
Q: Does Muhlenberg College count home equity when determining a family's financial need?
A: As is the case with many schools that Muhlenberg College competes with, we do have our own institutional methodology for awarding our institutional funds. In determining a family's financial need with this methodology, we do include home equity as part of the calculation.
Q: Will other family members in college affect my financial need?
A: Muhlenberg College not only looks at who else (siblings only) in the family is enrolled in college, but also at the costs and financial aid involved at the other institution. We will divide the expected parent contribution accordingly. For example, if a sibling is enrolled at a community college, the parent contribution will not be divided in half as it would have been had that student been attending a school with a similar cost to Muhlenberg. Instead, it will be divided proportionally.
Q: My parents are divorced or separated? How do you treat that situation?
A: The federal government and Muhlenberg College require that the custodial parent (or the parent with whom the student lives with for 50% or more of the year) complete the PROFILE form and FAFSA. If this parent has remarried, then the step-parent's financial aid information IS REQUIRED. The federal government feels that as part of the marriage the step-parent assumes some responsibility for the student. In addition, Muhlenberg College requires the non-custodial parent to complete the CSS Noncustodial Parent's Profile Form that is available online.
If the whereabouts of the non-custodial parent are unknown or if the non-custodial parent refuses to complete the Noncustodial Parent's Profile Form, please contact the Office of Financial Aid in writing. These situations are handled on an individual case-by-case basis.
Q: How can I be an independent student?
A: In order to be considered independent for federal and state purposes for the 2008-2009 academic year, you must meet one of the following criteria:
Be born before January 1, 1985
Be a veteran of the US Armed Forces
Be married
Be an orphan or ward of the court
Have legal dependents other than a spouse.
Muhlenberg College will review a student's independent status on a case-by-case basis.
Q: What percentage of the Class of '11 received need based institutional aid?
A: 66.9% of the Class of '11 is receiving need based grant money from Muhlenberg College. 71.6% of the class is receiving some type of financial assistance.
Q: What are the components of a Muhlenberg College financial aid package?
A: The typical financial aid package for a Muhlenberg student will usually consist of one or more of the following:
Muhlenberg College Grant Money: This is money from Muhlenberg College that does not need to be repaid.
Federal/State Grant Money: This is money that does not need
to be repaid and is awarded by the federal or state govern-
ment.
Student Employment: This is money that the student earns.
Loans: This is money that the student needs to repay.
The make-up of the award (grant vs. self-help) is based on a student's financial need and the student's high school achievements.
Q: How do I apply for Muhlenberg's Merit Scholarships?
A: When you submit your application for admission to Muhlenberg College, you are automatically considered for all of the merit scholarships that the college offers. If any additional information is required, the Office of Admissions will contact you directly. Muhlenberg College enrolls approximately 125 Merit Scholarship recipients. The scholarships range from $1,000-$15,000. However, the total Merit from all Muhlenberg sources is capped at $19,000. Merit Scholarship recipients typically have combined Critical Reading and Math SAT scores of over 1300 and rank in the top 10% of their high school class.
Q: If I receive a Merit Scholarship, how does that affect my financial aid package?
A: Merit award decisions are made independently from the need-based financial aid awards. However, because of federal guidelines, merit awards must be counted as a financial aid source and will be listed on your award letter. Because of Muhlenberg College's "preferential" packaging, Merit Scholarship recipients' packages are weighted toward grant as opposed to self-help (loans and student employment).
Q: What is the average grant received by the Class of '11?
A: The average Muhlenberg College grant for the Class of '11 was $14,688. The total average financial aid package for the Class of ’11 was $18,166.
Q: How does the student employment program work at Muhlenberg College?
A: Students are awarded student employment as part of their financial aid package. The average student employment award is $1,800. It has been our experience that by working 8 hours a week, the students can easily earn the full $1,800 award. Students can find out about the jobs that will be open for the upcoming academic year during June Advising or in August from the bulletin board outside our office. Students are responsible for contacting the supervisor listed and obtaining their own job. They will receive a monthly paycheck for their work. Some of the jobs are in administrative offices, academic departments, security, the Center for the Arts, the Student Union, and the theater.
Q: If I am not awarded student employment as part of my financial aid package, can I still work on campus?
A: Students who wish to work on campus but who were not awarded student employment as part of their financial aid package should stop in the Office of Financial Aid at the beginning of the semester to fill out a job application. After the first two weeks of school, we will open all remaining jobs to eligible financial aid students. After the third week, we will open it up to all students.
Q: Can I expect the same financial aid package for all four year's at Muhlenberg?
A: A student's need-based financial aid package is renewed each year provided the student still demonstrates financial need as determined by the annual filing of the FAFSA, is making satisfactory academic progress and is in good standing in the College Community. However, if your financial need decreases due to a change in your family's circumstances (i.e., the size of your family decreases, the number in college decreases, your family's income or assets increases), or you are having difficulty with your academic performance, your need-based financial aid award will be affected.
Q: If I receive a scholarship from my high school or local organization, how will it affect my financial aid award?
A: Muhlenberg College students on financial aid, including merit scholarship recipients, are required to report their outside awards to the Office of Financial Aid as soon as they are notified of them. No amount of aid, including outside awards and merit scholarships, can ever exceed Muhlenberg’s cost of attendance. If necessary adjustments to Muhlenberg financial aid awards will occur only to the self help portion (federal loans, student employment) for the first $6000 a student receives in outside scholarships. Once a student exceeds a total of $6000 in outside scholarships, a dollar for dollar reduction in need based Muhlenberg College Grant will occur.
Q: What kind of loan options are available?
A: There are several loan options available to students and their parents.
Subsidized Stafford Loan : This is a need-based loan that goes in the student's name. It is subsidized by the federal government so there are no payments required as long as the student is enrolled in school on at least a half-time basis. Freshmen may borrow $3,500, sophomores $4,500 and juniors and seniors $5,500. The interest rate is fixed at 6.8%.
Unsubsidized Stafford Loan: This is also a loan that goes in the student's name. Interest payments are made while the student is in school. It is for students that do not qualify for the maximum subsidized loan for their grade level. Freshmen may borrow $3,500, sophomores $4,500, juniors and seniors $5,500 less any subsidized Stafford they received. The interest rate is fixed at 6.8%.
Perkins Loan: This is a need-based loan that also goes in the student's name. The interest is subsidized by the federal government so there are no payments required as long as the student is enrolled on at least a half-time basis. The interest rate after graduation is fixed at 5%.
PLUS Loan: This is a loan that the parent(s) of the student take out. The maximum amount that may be borrowed is the Cost of Education minus any other financial aid. Principal and interest payments or interest only payments are required and the interest rate as of July 1, 2007, is fixed at 8.5%
Alternative Educational Loans: These are loans that go in the student’s name. Students normally have a co-signer for the loan. The maximum amount that may be borrowed is the cost of education minus any other financial aid. Principal and interest may be deferred while the student is enrolled in school. They have variable interest rates. Applications for the new academic year are available in April at the Office of Financial Aid.
Q: How much will it cost to attend Muhlenberg?
A: For the 2007/2008 academic year, tuition, fees, room and board total $40,880.
Q: How can I pay for the part of my tuition that is not covered by financial aid and loans?
A: Muhlenberg College will send out bills for the Fall Semester in June prior to the start of the Fall Semester. The Spring Semester bill will be sent out in December. Bills are usually due 30 days after they are sent. Muhlenberg College also participates in a 10-Month Payment Plan. This plan allows students and their families to begin making payments in May/June prior to starting the Fall Semester. There is simply an application fee of $50 and families indicate in the application how much they wish to spread out over the 10-Month period.
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