Determining Financial Needs

Mayville State University is dedicated to assisting all students to the fullest extent possible under federal regulations. Financial aid is supplementary to you and your family’s financial resources. Your University expenses will include tuition, fees, room, board, books and supplies, transportation, clothing, recreation, and other personal expenses. In determining the type and the amount of financial assistance necessary to meet your financial requirements, Mayville State University first expects you and your parents to make a maximum effort to assist with educational expenses.

Your financial aid will be determined by subtracting the parent’s contribution, your contribution, and other available resources from the budget. Income, assets, fixed costs, family living costs, unusual expenses, and housekeeping expenses are all used in determining financial need, and these items vary from year to year. A student must reapply each year for financial assistance by completing the FAFSA.

The federal government requires each postsecondary institution participating in financial aid programs to utilize a uniform and systematic evaluation of financial need of all applicants for aid. Programs at Mayville State University requiring a need analysis are Federal Pell Grants, Teach Grant, Federal SEOG, Federal Perkins Loan, Federal Work Study, William D. Ford Federal Direct Loans, and Federal Direct Unsubsidized loans. As a matter of policy, Mayville State also recommends a need analysis for the Federal Direct Parents Loan for Undergraduate Students (PLUS).

Since funds are limited, aid is usually awarded in the order that files are completed. Financial aid packages will generally be made from a variety of sources. Financial aid awards may be adjusted based on the availability of funds.

Title IV aid is considered to be Federal Pell Grant, Teach Grant, Federal Direct Loans, Federal College Work-Study, Federal Perkins Loans, Federal Supplemental Educational Opportunity Grants, State Student Incentive Grants, Federal Direct Unsubsidized Loans, Federal Direct Parent Loans for Undergraduate Students (PLUS), the Paul Douglas Teacher Scholarship, and the Robert C. Byrd Scholarship.