Financial Aid Information
Is financial aid available for graduate work?
There is limited financial aid for graduate students. Students interested in applying for financial aid must:
- be an admitted student in the Morningside College Graduate Program (prior to the start of the semester the student is requesting aid) Please note that all completed application materials must be received by December 4 to be guaranteed consideration for the Spring 2010 term.
- have completed a 2009-2010 Free Application for Federal Student Aid (FAFSA) www.fafsa.ed.gov and have it sent to Morningside College (Federal School Code 001879)
- complete and return the Morningside College Financial Aid Application for Graduate Students
- and register each term for a minimum of 6 hours of graduate credit at the Morningside tuition rate for most financial aid (exceptions include Federal TEACH Grant and some private loan assistance).
All of these items must be completed in a timely manner in order for the Office of Student Financial Planning to disburse aid while the student is enrolled during each term. The Morningside Financial Aid Application must be submitted for each term for which financial aid is sought. Students seeking an Endorsement may only receive aid for classes required for that endorsement.
Contact Student Financial Planning at 1-800-831-0806, Ext. 5159, for information.
Financing Morningside College Graduate Classes:
Check Payment: Payment can be mailed to Morningside College, Business Office, 1501 Morningside Avenue, Sioux City, IA 51106.
Credit Card (Visa, MasterCard, Discover) Payment: Please call the Business Office at 712-274-5117 to make arrangements.
Financial Aid: Students who have been admitted into the Graduate Program at Morningside College, completed the 2009-2010 Free Application for Federal Student Aid (www.fafsa.ed.gov), completed the Morningside College Financial Aid Application for Graduate Students, and who are enrolled:
Less than half-time students (less than 6 credit hours per term) can apply for the following:
- Federal TEACH Grant (Loan) Program.
- For information on the Federal TEACH Grant, go to www.teachgrant.ed.gov.
- To complete the TEACH Grant Initial/Subsequent Counseling and TEACH Grant Agreement to Serve, go to www.teach-ats.ed.gov.
- Private Resources that you have found.
At least half-time students (6 credit hours per term) can apply for the following:
1. Federal TEACH Grant (Loan) Program.
- For information on the Federal TEACH Grant, go to www.teachgrant.ed.gov.
- To complete the TEACH Grant Initial/Subsequent Counseling and TEACH Grant Agreement to Serve, go to www.teach-ats.ed.gov.
2. Federal Subsidized/Unsubsidized Stafford Loan(s). Loan eligibility is determined after completion of the FAFSA.
- Interest rate is fixed at 5.6% for Subsidized and 6.8% for Unsubsidized.
- Repayment begins 6 months after student ceases to be enrolled at least half-time.
- Applications are available from the Office of Student Financial Planning or your lender.
3. Federal Graduate PLUS Loan. Loan eligibility is based on creditworthiness.
- Interest rate is fixed at 8.5%.
- Repayment begins after the second disbursement has been made.
- Applications are available from the Office of Student Financial Planning or your lender.
4. Other Private Resources that you have found.
Cost of Attendance (Total Financial Assistance):
Maximum available per semester based on average costs (Tuition is usually $160 unless otherwise noted on the graduate course offerings brochure):
Credit
Hours
Description (Information used to determine
maximum financial aid available)
Semester Maximum
1-5
Tuition $480, Books $235, Transportation $605
$1,320
6+
Tuition $960, Room & Board $3,370, Books $235, Transportation $605, Personal $883
$6,053
TEACH Grant/Loan Maximums:
Credit
Hours
Semester
Maximum
Credit
Hours
Semester
Maximum
1-5
$ 500
9-11
$1,500
6-8
$1,000
12+
$2,000
Teacher Loan Forgiveness Opportunities: Additional information may be found online at the following websites:
FFEL AND Direct Stafford Loan Cancellation for Teachers (up to $5,000 or $17,500):
http://studentaid.ed.gov/PORTALSWebApp/students/english/cancelstaff.jsp?tab=repaying
Federal Perkins Loan Teacher Cancellation (up to 100%):
http://studentaid.ed.gov/PORTALSWebApp/students/english/cancelperk.jsp?tab=repaying
Iowa College Student Aid Commission Iowa Teacher Shortage Loan Forgiveness Program:
http://www.iowacollegeaid.org/commissioncentral/loanforgiveness/teacher.html
Iowa Student Loan Teacher Education Loan Forgiveness Program:
Federal TEACH Grant (Loan) Program
Satisfactory Academic Progress:
Full time students (12 or more credit hours per term) receiving financial aid are expected to complete at least 12 credit hours each academic term.
Part time students (less than 12 credit hours per term) receiving financial aid are expected to complete the number of credit hours for which they received financial aid each academic term.
All students are expected to achieve a cumulative GPA at least 2.0 each academic term.
Students who do not meet these guidelines will be placed on financial aid probation for the following term. If these guidelines are not met a 2nd time, students will be placed on financial aid suspension (no longer eligible for financial aid).