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Undergraduate Need-Based Financial Aid

Overview of Need-Based Financial Aid
The foundation of Muskingum’s financial aid program rests with its financial assistance to students who need such assistance in order to attend. More than 85 percent of all institutionally-funded grants and scholarships go to students who demonstrate financial need, which is in addition to federal, state and private funds allocated to needy students.

Muskingum University is committed to providing or assisting students in obtaining resources to meet demonstrated need, though it is not possible to meet 100 percent of need in all cases. Students demonstrating need can expect to have at least a portion of the total need amount met with gift assistance (grants, scholarships). The gift aid percentage may in some cases exceed 75 percent for top academic students. The remaining need will be met with student loans and, in cases where the student is eligible, a campus work-study opportunity.

How Financial Need is Determined
By completing the Free Application for Federal Student Aid (FAFSA) a student will receive an Expected Family Contribution (EFC). The EFC is then subtracted from the Cost of Attendance to arrive at the student's financial need. Cost of Attendance includes tuition, fees, room and board (if living on campus) or a commuter or off-campus living allowance, as well as estimates for books, personal and transportation expenses. The Cost of Attendance for full-time traditional undergraduate Muskingum University students can be found in the table below:

2014-15 Cost of Attendance

  Resident Commuter Off-Campus
Tuition $24,000 $24,000 $24,000
Fees $676 $676 $676
Laundry Fee $150 $0 $0

Room & Board

$9,760
$0

$0

Commuter/Off-Campus Allowance $0 $4,880 $9,760
Books $1,100 $1,100 $1,100
Personal Expenses $900 $900 $900
Loan Fees $68 $68 $68
Transportation $500 $500 $500
TOTAL $37,154 $32,124 $37,004

 

 

 

 

 

 

 

 

 

 

 

*New students are also charged a $240 Matriculation fee. Students admitted to the PLUS Program are charged and additional fee of $8,310, or $4,986 for PLUS Maintenance. Students who live more than 4 hours from campus are given an additional transportation allowance of $500.


How Financial Aid Packages are Assembled

Once a student’s financial aid eligibility has been established, a financial aid “package” is awarded which typically consists of both gift aid (scholarships, grants) and self-help aid (student loans, student employment). Muskingum considers past and current academic performance when constructing financial aid packages. We try to meet the financial need of all aid applicants using all available resources; students with high academic ratings, however, will be awarded packages with a higher-than-average percentage of gift aid. Differentials among academic award categories are moderate, so no student should expect an unreasonable level of gift or self-help aid.

We have created a few Sample Financial Aid Awards to give you an idea of how some typical financial aid situations might be reviewed.

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