Applying for Financial Aid

Basic Eligibility Criteria

To be eligible for financial aid, a student must meet the following criteria:

  • Be a citizen or an eligible non-citizen of the U.S.
  • Be enrolled in a degree or certificate program (for many aid programs at least half-time)
  • Be registered with the Selective Service (if male)
  • Be in academic good standing, as described in the MCC Course Catalog, and maintaining satisfactory progress.

Financial Need Factors

In addition to meeting the basic eligibility criteria, students must have a financial need in order to receive financial aid. Financial need is determined by a federal formula that takes various factors into account including:

  • Income of student (and parent or spouse)
  • Assets of student (and parent or spouse)
  • Family size
  • Number of family members in college, not including parents

What if the family financial circumstances change?

When financial circumstances change, the Financial Aid Office is available to help students and their families locate funding sources and understand the options available to them. Advice may include educating the student on how to apply for scholarships, recalculating a family’s eligibility based on documented financial changes, or counseling a family regarding available student loans and payment plans.

MCC will consider income reduction/unusual circumstances at any time during the academic year as long as funds are available.

Awards

Financial aid awards are calculated for the academic year. (A new academic year begins every fall semester.) Each academic year, students must reapply for financial aid. Beginning Fall 2017, award calculations will be based on income, assets, and family resources and circumstances from two years prior to that fall semester, in conjunction with current need analysis methodologies and regulations. (i.e. If the student applies for 2017-2018 aid, the family income and resources used will be from tax year 2015.) Additionally, students must continue to make satisfactory academic progress to remain eligible for financial aid.