Financial Aid

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Students must be accepted into the Acupuncture or Oriental Medicine program before beginning the financial aid process. Except in the unlikely circumstance that a potential borrower has reached the maximum loan limit for an academic level, or reached the maximum aggregate loan limit, all enrolled students are eligible to apply for Direct Loans.

Both subsidized and unsubsidized Direct Loans are subject to annual limits and may be used to pay for costs of education in excess of "expected family contribution". Unsubsidized interest loans can be used to cover each individual student's "expected family contribution". Acupuncture students who have not yet received a four year post-secondary degree may be eligible for a Federal Pell grant, the amount of which is based on a U.S. Department of Education formula.

The process of obtaining financial aid can be time consuming; students must allow sufficient time for processing. To qualify for any Federal Student Aid Program students must file the Free Application for Federal Student Aid (FAFSA) each year they attend Midwest College. Student borrowers must also attend both entrance counseling and sign a master promissory note (MPN). Students waiting for financial aid approval must follow the tuition schedule policy per page 36. Students that do not remain active at least at a half-time status, withdraw, or graduate must complete and Exit Interview for Direct Loans.

If the amount received for Pell grants and loan checks exceeds the amount due to the school after tuition and fees charged for the current quarter are assessed, the student may elect to permit the school to hold the student's money to pay for future tuition and fee charges. If such an election is not made or if the student revokes the election, a check for the credit balance will be issued within 14 calendar days after the date loans and grants are received or within 14 calendar days of revocation. Any credit balances that remain will be disbursed before the end of that loan period.