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About My Award Letter
How Your Financial Aid Eligibility was Determined
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our financial aid eligibility was determined based on the Free Application for Federal Student Aid (FAFSA). This form analyzes you and your parents' (if dependent) 2010 income and assets to determine an "Expected Family Contribution" (EFC). MVNU uses the federally calculated EFC and subtracts it from the Cost of Attendance for the given academic year to determine your eligibility for "need based aid".
Cost of Attendance - Expected Family Contribution (EFC) = Need -
The 2011-2012 Cost of Attendance for financial aid eligibility purposes included not only Direct Costs -- Tuition and Fees, Health Care, and Room and Board, but also allowances for Indirect Costs -- Books and Supplies, Transportation and Miscellaneous Personal Expenses.
For Undergraduates:
Costs 2011-2012
| Residential Student |
Fall |
Spring |
Total |
| Tuition |
$11,040 |
$11,040 |
$22,080 |
| Health Care |
$88 |
$88 |
$176 |
| Room |
$1,795 |
$1,795 |
$3,590 |
| Food Service |
$1,420 |
$1,420 |
$2,840 |
| TOTAL (Residential) |
$14,343 |
$14,343 |
$28,686 |
| Commuter Student |
Fall |
Spring |
Total |
| Tuition |
$11,040 |
$11,040 |
$22,080 |
| TOTAL (Commuter) |
$11,040 |
$11,040 |
$22,080 |
Indirect Costs
2011-2012 On Campus for Fall and Spring Indirect Costs
| On Campus Student |
Fall |
Spring |
Total |
| Books and Supplies |
$650 |
$650 |
$1,300 |
| Personal |
$1,040 |
$1,040 |
$2,080 |
| Travel |
$360 |
$360 |
$720 |
| Total (on-campus) |
$2,050 |
$2,050 |
$4,100 |
Indirect costs are estimated costs incurred by the student while attending Mount Vernon Nazarene University. These costs are estimated based on data collected from the area surrounding MVNU.
2011-2012 Off Campus for Fall and Spring Indirect Costs
| On Campus Student |
Fall |
Spring |
Total |
| Books and Supplies |
$650 |
$650 |
$1,300 |
| Living Expenses |
$1,395 |
$1,395 |
$2,790 |
| Personal |
$1,040 |
$1,040 |
$2,080 |
| Travel |
$600 |
$600 |
$1,200 |
| Personal |
$3,685 |
$3,685 |
$7,370 |
Indirect costs are estimated costs incurred by the student while attending Mount Vernon Nazarene University. These costs are estimated based on data collected from the area surrounding MVNU.
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Once your eligibility for need-based aid is determined, a combination of need-based and non-need-based aid programs are offered to help meet the cost of attendance.
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First, Merit Scholarship are awarded based on admissions data: (SAT/ACT score and high school cumulative GPA).
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Then Federal, State, and Institutional need-based grant or scholarship funds are awarded.
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Third, federal work-study (need based campus employment) is awarded.
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Fourth, Stafford loans are added to the award package.
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Finally, the Parent PLUS loan and/or private loans are awarded up to the Cost of Attendance.
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This combination of aid programs are being "offered" and you may accept all or part of the Federal loans. Private Loan options and the Parent PLUS loan are available to help fund the full Cost of Attendance. You and your family will need to evaluate your personal resources to decide the amount of Private Loans (if any) or Parent PLUS loan you may need to borrow.
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In addition, you may be selected for verification. The process of verification verifies the information you submitted on the FAFSA. The paperwork requested by the Financial Aid Office is required to disburse your federal aid.
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Scholarships and Grants