Your Financial Aid Award - Frequently Asked Questions

 

  • What’s the difference between subsidized & unsubsidized loans?
    • Subsidized and unsubsidized loans are both federal loans offered to a student because they filed the FAFSA. Unsubsidized loans WILL accrue interest during the student’s time in school, while subsidized loans WON’T accrue until the student has graduated or is no longer enrolled as a full-time student.

       

  • How does loan repayment work?
    • Federal loan payments are deferred until six months after the student graduates, or until they are no longer enrolled as a full-time student. Private loan repayment depends on the lender.

       

  • What is verification?
    • Verification is a federal process where 1 in 3 families are selected to verify that what they reported on the FAFSA is correct. If a student is selected for verification at one institution, it is likely they will need to complete the verification process at any institution being considered. The student/family must provide documents that the institution requests like verification forms, tax return transcripts, etc.

       

  • What is the difference between student loans & parent loans?
    • Federal student loans are available students to take out in their own name without a co-signer. The parent loan is a federal loan that a parent can use for their child’s educational expenses. Both of these options are only available to students who have filed the FAFSA.

       

  • What is the parent loan?
    • The parent loan is known formally as the Federal PLUS Direct Loan. This is a credit-based loan that requires a parent to apply. If the application is accepted, the eligible funds will be applied to the student’s bill. Once the student is done with school, the parent will be in charge of repaying the loan amount. If a parent is denied the loan based on credit, then some additional finds may be added to the student’s unsubsidized loan amount.

       

  • Are there additional loans available to students besides what’s listed?
    • There are private student loans available to students as well. Most private lenders will require a co-signer along with a credit check. Private student loans have a range of interest rates, fees and repayment options. Many families will start their private loan search by seeing what their personal bank has to offer and exploring different private education loan providers online.

       

  • How do I accept my financial aid package? Is there a deadline?
    • We ask that students accept or decline their financial aid notification online on their Spartan Self Service checklist. While there is no specific deadline for this, it should be completed as soon as the decision is made to attend Manchester University.

       

  • How do I report outside scholarships?
    • There are two options to report outside scholarships. They can be reported online on the student Spartan Self Service page >> Financial Information >> Report/View Outside Awards. There is also the option to download and complete The Outside Funding Form 2022-2023. This form can be found on www.manchester.edu >> Quicklinks >> Student Financial Services >> SFS Forms >> Outside Funding Form 2022-2023.

       

  • Where can I find my student ID?
    • Student IDs can be found at the top of the student’s financial aid notification or on the student’s personal Manchester page.

       

  • How do I schedule a financial aid conversation?
    • Financial aid conversations can be scheduled through assigned admissions counselors or the Office of Admissions Calendly account www.calendly.com/mufinaid. Financial aid discussions will be conducted via Zoom, telephone or in-person. Admissions staff is available during standard office hours (8-5, M-F) and on select evenings (5-8 PM). Please connect with an admissions counselor if additional times are needed. Remember, a financial aid conversation is required to enroll at MU!

       

  • What if my parents have lost their job? What if they are divorced? What about other situations?
    • If special circumstances arise which impact a student’s ability to pay for school, they may qualify to undergo a financial aid review process. Students should contact their assigned admissions counselor to begin the process. Staff may ask questions regarding the situation and can help to determine eligibility for review. If a circumstance qualifies, the Student Financial Services office will contact the family for additional information and documentation to determine any necessary changes to the financial aid notification.

       

  • Who do I contact with questions, and how do I contact them?
    • Students and families should contact their assigned admissions counselor with questions regarding their financial aid notification. Students may text, email or call their admissions counselor directly, or they may utilize the main admissions phone line at 260-982-5055.

       

  • Does Manchester University accept VA benefits?
    • Manchester University does accept VA and National Guard benefits.  Job training with the National Guard needs to be completed for eligibility.

    • To determine benefits and eligibility, apply at www.va.gov. Click on “Apply for Benefits” under the Education tab at the bottom. Once a Certificate of Eligibility is received from the VA, please forward that to MU. This lets us know the type and length of your benefits. After we receive the certificate, we will reach out with any additional information we need to complete certification.

       

  • What is ITBP? What are the qualifications & benefits?
    • ITBP stands for Indiana Tuition Bridge Program. The purpose of the ITBP is to bridge the gap to affordability by combining federal and state grant funding with Manchester scholarships. Whatever gap in tuition is not covered by already existing scholarships will be covered by the ITBP. This therefore eliminates out-of-pocket expenses for qualified first-year, full time students (at least 12 credit hours a semester) during their 4 years at MU. A student can automatically qualify for ITBP by meeting the below criteria:
      • Be an IN resident
      • Apply and be accepted to Manchester
      • Have an adjusted gross income (AGI) level of $65,000/year or less (for parents)
      • Be eligible for the Federal Pell Grant
      • Complete the Free Application for Federal Student Aid (FAFSA) by the IN deadline
      • Live on campus

         

    • Where is my athletic scholarship?
      • As per the NCAA Division III, athletic scholarships are not awarded to Manchester students. While some may feel discouraged by this at first, the purpose is so that students are being rewarded for their academic success as opposed to their athletic success. Students receive very generous academic scholarships to offset the lack of athletic scholarships. Students are then attending Manchester (a division III school) for the institution itself, the beliefs they uphold, the programs we offer and so much more. Student-athletes can be offered a roster spot, but when offered this spot, there is no financial incentive.

         

    • Are there any other scholarships available?

      In terms of outside scholarships, check with high school guidance office, local community foundations, employers, etc. Follow this link to find additional websites: https://www.manchester.edu/admissions/cost-financial-aid/making-it-affordable/additional-scholarships

       

  • What are my next steps?
    • After filing the FAFSA with Manchester University listed (FAFSA code 001820), students will receive a financial aid notification in the mail a few weeks later. Students will be notified about scheduling a time to go over the notification with an Admissions Counselor via Zoom, phone, or in person.

       

  • When will I receive a billing statement?
  • Manchester will provide a Billing Statement after the student officially enrolls in classes in June. Payment and/or enrollment in a payment plan is due August 1st for fall courses and January 1st for spring courses.

 

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