How can I get assistance with managing federal loans?
MACU has teamed up with Solutions at ECMC to answer all of your student loan repayment questions. Solutions is a service of the non-profit organization ECMC and is dedicated to helping students manage educational loans. Their resources are available to you free of charge. To contact a Solutions Student Loan Repayment Advisor, visit www.ecmcsolutions.org or call 1-877-331-3262.
How can I use my Financial Aid to purchase textbooks?
Register your bookstore account today and take advantage of these amazing benefits through our Textbook Butler service: Textbook subscription: With Textbook Butler, you can set your preference for new, used or rental books. Competitive prices: Our prices reset every night, ensuring you receive comparable prices for your purchases and rentals. Book rentals provide the most savings: simply […]
What happens when I reach my aggregate loan limit?
Students who have reached their aggregate loan limit can apply for student loans from an outside source, such as private school loans.
When will I receive my overage?
Once financial aid has been disbursed, the Bursar has three business days to post funds to your student account. If eligible for an overage/refund check, the Bursar has another 14 business days to issue said check. To receive your excess financial aid, you can elect to have it deposited into a checking or savings account (Direct Deposit) or receive […]
What is a payment period?
Payment periods are similar to semesters. Undergraduate students: The payment period for undergraduate students is 12 credit hours and 20 weeks of instruction. Undergraduate students must pass the first 6 hours and begin attendance in 9 hours (third class in payment period) to be eligible for the second disbursement in the payment period. Undergraduate students are […]
When will my Financial Aid be disbursed?
All CAGS (College of Adult and Graduate Studies) students will receive their first disbursement of financial aid approximately 4-6 weeks after the start date of their first course and two weeks of participation has been posted by the instructor. All students receive 2 equal disbursements per payment period.
What is the difference in subsidized and unsubsidized loans?
Subsidized loans do not accrue interest while a student is enrolled at least half-time in a degree-seeking program. Upon dropping below half-time enrollment, interest will begin to accrue. On the other hand, an unsubsidized loan begins accruing interest immediately regardless of a student’s enrollment status.
Why does the Financial Aid Office need tax transcripts and other verification forms?
The Department of Education requires schools that disburse Title IV funding (financial aid) to verify a certain percentage of submitted FAFSA applications. This should not in any way be contrued as suspicion or doubt on MACU’s part or that of the Department of Education. The FAFSA can be a difficult form and mistakes are very […]
Why do I have to fill out my FAFSA every year?
Because eligibility for student aid does not carry over from one academic year to the next, students need to fill out the free application for Federal Student Aid (FAFSA) for each award year in which you are or plan to be a student.
What is a Federal Student Aid ID?
A Federal Student Aid ID serves as your identifier to let you access your personal information in various U.S. Department of Education systems. A FSA ID is required to complete a FAFSA. Set Up FSA ID