Financial Aid Process
The financial aid process is pretty straightforward. There are just a few steps, which we’ve laid out for you below. The sooner you complete these, the better!
The first step is to apply for a Federal Student Aid ID (FSA ID). Both the student and one parent will need to have an FSA ID to sign the FAFSA form and other federal financial aid forms electronically. Apply online at fsaid.ed.gov. Save these FSA IDs in a secure location, as you will need them throughout your college years.
The FAFSA on the Web Worksheet (FOTW) is a useful tool for the completion of the online version of the FAFSA.
The Free Application for Federal Student Aid (FAFSA) is the next step. Be sure to file the FAFSA as soon as possible after October 1. Mount Vernon Nazarene University’s preferred filing date is November 15. Have your completed FOTW, current tax returns, FSA IDs and MVNU’s school code (007085) handy to complete the FAFSA. Apply online at fafsa.ed.gov.
If you need to make corrections to your FAFSA information, they can be made on the Web at fafsa.ed.gov, step 2 or 3. The financial aid office can also make corrections electronically. Whether made by the student or the financial aid office, correction results are sent both to the student and to the financial aid office. A revised financial aid award notification may be generated and sent to the accepted or continuing student when corrected FAFSA data is received and required documentation is on file.
Students who have not previously borrowed Federal Direct Loans through the Direct Loan program need to complete Entrance Loan Counseling and a Master Promissory Note (MPN) at studentloans.gov. The Entrance Loan Counseling session is a quick tutorial that covers your rights and responsibilities as a student loan borrower. The MPN will require your electronic signature and two references. Loan funds cannot be disbursed until both of these are complete. The student's FSA ID is required to complete each of these.
For information on Limitation on Direct Subsidized Loan Eligibility please click here.
If your FAFSA is selected, you will be required to submit a tax return transcript (for dependent students), all W-2s, and a completed and signed verification worksheet. The appropriate worksheet may be printed from the "verification" section of Financial Forms & Fact Sheets.
average award per undergraduate student entering in 2020-2021.
Best Colleges for Getting Big Merit Scholarships (Money Magazine, 2017).
for lowest average student debt in Ohio by LendEdu.com. (2018)
"I had already picked a public university, but then I changed my mind. My dad had heard that MVNU was more affordable, and we only had one month to get everything together. This was all God's doing — between financial aid and scholarships, I paid significantly less at MVNU than what I was going to pay at the public university."Marissa L. Kalina, '19