About My Award Letter

How Your Financial Aid Eligibility was Determined

Your financial aid eligibility was determined based on the Free Application for Federal Student Aid (FAFSA). This form analyzes you and your parents’ (if dependent) 2007 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 2008-09 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:

On Campus for Fall and Spring

Direct Costs
On Campus Student	Fall	Spring	Total
Tuition	$9,385	$9,385	$18,770
General Fee	$280	$280	$560
Room	$1,550	$1,550	$3,100
Food Service	$1,225	$1,225	$2,450
Health Care	$80	$80	$160
Total (on-campus) Direct Costs	$12,520	$12,520	$25,040

Direct costs are charged directly to the students’ account and are due prior to the start of classes. Total MVNU direct charges do not include any applicable lab, overload, directed study, January travel or other miscellaneous fees.

Indirect Costs
On Campus Student	Fall	Spring	Total
Books and Supplies	$500	$500	$1,000
Personal	$892	$892	$1,784
Travel	$506	$505	$1,011
Total (on-campus)	$1,898	$1,897	$3,795

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.

Off Campus for Fall and Spring

Direct Costs
Off Campus Student	Fall	Spring	Total
Tuition	$9,385	$9,385	$18,770
General Fee	$280	$280	$560
Total (off-campus) Direct Costs	$9,665	$9,665	$19,330

Indirect Costs
Off Campus Student	Fall	Spring	Total
Books and Supplies	$500	$500	$1,000
Living Expenses	$1,840	$1,841	$3,681
Personal	$892	$892	$1,784
Travel	$825	$824	$1,649
Total (off-campus)	$4,057	$4,057	$8,114

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.

Once your eligibility for need-based aid is determined, a combination of need-based and non-need-based aid programs is offered to help meet the cost of attendance.

First, Merit Scholarship are awarded based on admissions data: (SAT/ACT score).
Then Federal, State, and Institutional need-based grant or scholarship funds are awarded.
Third, federal work-study (need based campus employment) is awarded.
Fourth, Stafford loans are added to the award package.
Finally, the Parent PLUS loan and/or alternative loans are awarded up to the Cost of Attendance.

This combination of aid programs is being "offered" and you may accept all or part of the Federal loans. Alternative 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 Alternative Loans (if any) or Parent PLUS loan you may need to borrow.
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.