Jeffersonville & Louisville
Come visit us in beautiful Jeffersonville, Indiana, with easy access to nearby Louisville.
Types of Financial Aid
Federal, state, institutional, and private fund sources used to assist eligible students in funding their education. Financial aid can be a mixture of scholarships, grants, loans, veterans’ educational benefits, tuition reimbursement, etc.
Scholarships and grants are classified as “free money” and the student will not be required to repay these funds. Loans are classified as a “self-help” aid and the student will be required to repay loan balances when you become enrolled less than half time or you graduate. Other sources of aid may have specific requirements associated to applying and using these towards your education.
Grants
Federal Pell Grant
Federal Pell Grants are awarded to undergraduate students who have not earned a bachelor’s degree and who possess financial need as determined by the FAFSA. All students meeting eligibility are offered Federal Pell Grant.
Eligibility
- You must have a qualifying Expected Family Contribution (EFC) – see FAFSA
- Recipients must meet Satisfactory Academic Progress (see Catalog and Handbook)
- You are limited to receive eighteen (18) terms at full-time enrollment
Award eligibility varies based on enrollment status.
Helpful Websites
Federal Supplemental Educational Opportunity Grant (FSEOG)
Am I eligible to receive FSEOG funds?
- You must complete a FAFSA for the award year you are enrolled/ing in
- There is a new FAFSA annually starting the 1st of July
- FAFSA award years are from July 1st – June 30th
- You must be a U.S. citizen or eligible non-citizen
- You must be enrolled at least half-time in your program of study (undergraduate program)
- You must demonstrate exceptional financial need
- You must not have a bachelor’s or a professional degree
- Meet Satisfactory Academic Progress
If I am eligible for FSEOG funds, how much am I eligible to receive?
You may receive up to $200.00 per quarter, depending on the following:
- Your financial need
- When you apply (complete FAFSA)
- The amount of other aid awarded
- Availability of funds at Mid-America College of Funeral Service
What is the application process?
To receive FSEOG funds, you must file a FAFSA as part of the application process. Students who receive Federal Pell Grants and have the most need will receive FSEOG funds first. Mid-America College of Funeral Service receives a certain amount of FSEOG funds each year from the U.S. Department of Education’s office of Federal Student Aid.
FSEOG funds are limited; meeting the criteria is not a guarantee that you will receive this grant.
Helpful Websites
Bureau of Indian Education (BIE) Higher Education Grant
The BIA Higher Education Grant is a federal grant program for Native American students.
Eligibility
- Must be a member of, or at least one-quarter degree Indian blood descendent of a member of an American Indian tribe which is eligible for the special programs and services provided by the United States through the Bureau of Indian Affairs because of their status as Indians. See the Tribal Leaders Directory at the following website: https://www.bie.edu/leadership
- Must be accepted for admission to a nationally accredited institution of higher education that provides a course of study conferring the Associate of Arts or Bachelor of Arts or science degree.
- Must demonstrate financial need as determined by the financial aid officer of the collegiate institution.
Helpful Websites
Loans
Direct Subsidized
The Direct Subsidized Loan is awarded based on your financial need. You will not be charged interest prior to repayment or during authorized periods of deferment. During deferment, the federal government pays your interest on the loan until the time of your repayment. Payment is automatically deferred until you are no longer enrolled at least half-time. When you are no longer enrolled at least half-time, a six (6) month grace period begins prior to entering repayment.
Disbursements made on or after July 1st, 2012, and before July 1st, 2014 are not eligible for an interest subsidy during the six month grace period prior to entering repayment, and interest will accrue during this time period. Disbursements on or after July 1st, 2014, are eligible for an interest subsidy during the six (6) month grace period, and interest will not accrue during this time period.
Eligibility
- You demonstrate financial need determined by the FAFSA
- You are enrolled at least half-time at Mid-America College of Funeral Service
- You must maintain Satisfactory Academic Progress
- You do not exceed annual or lifetime aggregate loan limits – see Direct Loan Limits
- You may not have received Direct Subsidized Loans for more than 150% of the length of your academic program
- Applicable to borrowers receiving their first disbursement on or after July 1st, 2013
Award eligibility varies based on enrollment status and dependency status.
Interest Rates
Loan interest rates may be found, here.
Origination Fees
Origination fees may be found, here.
Helpful Websites
Direct Unsubsidized
The Direct Unsubsidized Loan is awarded based on your financial need. You will not be charged interest prior to repayment or during authorized periods of deferment. During deferment, the federal government pays your interest on the loan until the time of your repayment. Payment is automatically deferred until you are no longer enrolled at least half-time. When you are no longer enrolled at least half-time, a six (6) month grace period begins prior to entering repayment.
Disbursements made on or after July 1st, 2012, and before July 1st, 2014 are not eligible for an interest subsidy during the six month grace period prior to entering repayment, and interest will accrue during this time period. Disbursements on or after July 1st, 2014, are eligible for an interest subsidy during the six (6) month grace period, and interest will not accrue during this time period.
Eligibility
- You demonstrate financial need determined by the FAFSA
- You are enrolled at least half-time at Mid-America College of Funeral Service
- You must maintain Satisfactory Academic Progress
- You do not exceed annual or lifetime aggregate loan limits – see Direct Loan Limits
- You may not have received Direct Subsidized Loans for more than 150% of the length of your academic program
- Applicable to borrowers receiving their first disbursement on or after July 1st, 2013
Award eligibility varies based on enrollment status and dependency status.
Interest Rates
Loan interest rates may be found, here.
Origination Fees
Origination fees may be found, here.
Helpful Websites
Student Aid
Repayment Estimator
Direct Annual Loan Limits
| Dependent Students* | ||
|---|---|---|
| Grade Level | Maximum Direct Subsidized Eligibility | Annual Direct Loan Eligibility (Subsidized and Unsubsidized Loans combined) |
| 1st Year - Undergraduate | $3,500 | $5,500 |
| 2nd Year - Undergraduate | $4,500 | $6,500 |
| 3rd Year - Undergraduate (Bachelor's students only) |
$5,500 | $7,500 |
| Independent Students** | ||
| Grade Level | Maximum Direct Subsidized Eligibility | Annual Direct Loan Eligibility (both Subsidized and Unsubsidized Loans combined) |
| 1st Year - Undergraduate | $3,500 | $9,500 |
| 2nd Year - Undergraduate | $4,500 | $10,500 |
| 3rd Year - Undergraduate (Bachelor's students only) |
$5,500 | $12,500 |
* Except students whose parents are unable to obtain PLUS Loans
** Includes dependent students whose parents are unable to obtain PLUS Loans
Helpful Websites
Direct Aggregate Loan Limits
| Undergraduate Dependent Students* | |
|---|---|
| Direct Subsidized | Direct Loans (Subsidized and Unsusidized Loans combined) |
| $23,000.00 | $31,000.00 |
| Undergraduate Independent Students** | |
| Direct Subsidized | Direct Loans (both Subsidized and Unsusidized Loans combined) |
| $23,000.00 | $57,500.00 |
* Except students whose parents are unable to obtain PLUS Loans
** Includes dependent students whose parents are unable to obtain PLUS Loans
Helpful Websites
Direct PLUS Loans
The Direct Parent Loan (PLUS) is available to the parents of dependent, undergraduate students. The parent may borrow up to the Cost of Attendance (COA) (excluding any other federal student aid). All funds are received electronically and will be posted to the student’s account to pay for authorized tuition and fees. Completing the FAFSA is required.
Eligibility
- Your child must be attending at least half-time
- Your child must be meeting Satisfactory Academic Progress
- You must have a good credit history
- You must not have defaulted on any previous student or parent loans
- You must be a U.S. citizen or an eligible noncitizen
- Your child must have completed the FAFSA
Award eligibility varies based on enrollment status.
Interest Rates
Loan interest rates may be found, here.
Origination Fees
Origination fees may be found, here.
Repayment
- Your Direct PLUS Loan enters repayment once your loan is fully disbursed
- Your Direct PLUS Loan may be deferred until the student falls below half-time enrollment or graduates
- The standard repayment option is up to 10 years – contact your lender to discuss repayment options
Applying
The Federal Direct PLUS Loan Application is available on www.studentloans.gov.
Federal Direct PLUS Loans are based on your credit. To apply:
1. Login to www.studentloans.gov
2. Sign in using your FSA ID
3. Select “Apply for a PLUS Loan”
4. Select “Complete PLUS Request for Parents” under “Direct PLUS Loan Request for Parent Borrowers”
5. Follow the application and submit
If you are approved for the PLUS based on credit, please complete the PLUS MPN for Parents under the “Complete a Master Promissory Note” on the welcome page after logging into www.studentloans.gov.
Helpful Websites
Additional Financial Aid Opportunities
Mid-America College of Funeral Service
- Scholarships
- The following videos may assist you with the types of aid and understanding Federal Student Aid.