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Financial Aid

The Office of Financial Aid is responsible for assisting students and their families in meeting the educational expenses of attending MacMurray College. There are various types of financial aid such as gift assistance (grants, scholarships, and waivers) and self-help (loans and employment) which are available to students from federal, state, institutional, and private sources. However, please keep in mind that the primary financial responsibility for meeting educational expenses rests with the student and their families as financial aid is meant to assist students to afford a MacMurray education.

Note: The financial aid process and most types of financial aid awards are regulated by the federal and state governments. Therefore, the financial aid information contained in this catalog is subject to change at any time.

Financial Aid Staff

The office is open Monday through Friday from 8 a.m. to 4:30 p.m., except during scheduled holidays. During office hours staff are available to answer questions and provide assistance with forms and applications. The office is open all summer to assist with questions, process paperwork, and so forth. Staff contact information is available on the One-Stop Student Services website.

Keep in mind that most information is available via the financial aid website. Additionally, students who are enrolled may also access student-specific financial aid information by logging into the My portal. Via the portal a student can view a list of outstanding document requirements, accept/decline their financial aid awards, view current and past years' financial aid awards, and find other helpful links and information.

Applying for Financial Aid


Students must meet the following minimum criteria to be considered for the federal, state and most institutional programs:

The Free Application for Federal Student Aid

Students who wish to be considered for financial aid must complete the Free Application for Federal Student Aid (FAFSA) online at FAFSAs are available on January 1 of each year (for classes beginning the following August). The priority deadline for completion of the FAFSA for each upcoming school year is February 1. FAFSAs are accepted after February 1, but due to limited funding in some programs, students may no longer be eligible for some types of assistance. If taxes have not yet been completed, please provide estimated information on the FAFSA and be sure to update tax information once tax returns have been filed.

MacMurray's school code (001717) must be listed; otherwise, MacMurray will not receive the FAFSA information. To complete the FAFSA online the student and parent (if the student is dependent) must have a Federal Student Aid Personal Identification Number (PIN) in order to be able to sign the form electronically. You may apply for a PIN at Although Financial Aid recommends that students complete the FAFSA online, paper FAFSAs are available upon request from the US Department of Education.

Please note that students are considered dependent or independent based on information provided on the FAFSA. Most traditional undergraduate students are considered dependent. Dependent students must report parental income information on the FAFSA. Dependency is not a status of choice. Dependency status for financial aid is not based on whether or not a student lives with a parent, whether or not a student is financially self-supportive, or whether or not parents claim a student as a dependent on their taxes.

After receiving your FAFSA, the federal processor will send the student a Student Aid Report (SAR) electronically (unless you do not provide an email). The SAR lists all the information submitted on the FAFSA and explains the Expected Family Contribution (EFC) calculated from that information. You should review the SAR for accuracy and make any necessary corrections. Assistance on how to file FAFSA is available on the Financial Aid website.

Additional Requirements

Per the federal regulations, a percentage of students must submit additional documentation to Financial Aid in order to verify the information reported on the FAFSA. This may include, but might not be limited to, a Verification Worksheet and federal tax information.

If additional information is required, the office will send the student an email or letter detailing the specific documentation being requested. It is important that all required documentation be submitted with proper signatures in a timely manner as until all required documentation is received and reviewed, staff cannot finalize a financial aid award. If, as a result of reviewing the information, an error is noticed, staff will submit corrections of your FAFSA information to the US Department of Education. The verification process generally takes one to two weeks, provided all the information has been submitted in its entirety. For more information, please visit the Financial Aid website.

Applying for Summer Financial Aid

To be considered for financial aid for the summer term, students must contact the Office of Financial Aid and discuss with a staff member. There are limited sources of financial aid in the summer, so please inquire early. To be eligible for federal student loans in the summer, students must be enrolled at least 6 hours and have remaining loan eligibility. There is typically no institutional aid available in summer. For financial aid purposes, summer counts as one term. If you are enrolled in multiple summer sessions, the sum of all your summer enrollments must add up to the 6-hour requirement.

Determining Financial Need

After completing the FAFSA, the US Department of Education will calculate the student's Expected Family Contribution (EFC) based on the income, assets, and family information provided on the FAFSA. The EFC is used to determine a student's eligibility for various need-based grants, loans, and work study awards. The EFC is not the amount that the student will pay the College.

For each student, an estimated Cost of Attendance (COA) is assigned which reflect costs the student may incur during the regular academic year. Current cost of attendance for MacMurray may be found using our Net Price Calculator. Such expenses may include:

The total COA is not the amount that the student will owe the College for the year. Some items in the Cost of Attendance are indirect costs and are estimates. Direct costs are those the student pays directly to the College and include tuition, fees, and room and board, if living in campus housing. Indirect costs are costs a student will likely have during the academic year but which are not owed directly to the College. Indirect costs include books and supplies, transportation, and miscellaneous personal expenses. Room and board are indirect costs for those not living in campus housing.

Financial need is determined by subtracting the students Expected Family Contribution (EFC) and any other outside resources from the students Cost of Attendance (COA). A student must have financial need in order to be eligible for need-based financial aid. Additionally, the sum total of financial assistance a student receives from all sources (grants, scholarships, waivers, loans, work study, etc.) cannot exceed the students estimated cost of attendance.

Award Notification

Once the student's FAFSA and any additional required documents have been processed, Financial Aid is able to award the student financial aid. At such time, an email will be sent to the student's MacMurray email address directing the student to view their awards on My Students must accept and decline their financial aid awards online and notify Financial Aid of any additional sources of funding not listed on the awards.

Ideally, the staff will begin to process awards for new incoming students in late February. However, much depends upon notification from the federal and state governments about funding levels for the various programs. Awards for continuing students will be processed later in the spring term.

Please be aware that financial aid awards can be adjusted (increased, decreased, or cancelled) at any point during the academic year. Awards can be adjusted for a variety of reasons, such as if Financial Aid learns of outside financial resources (including tuition waivers and scholarships); if corrections are made to the student's FAFSA; or if the student changes enrollment, grade levels, etc. If an award is adjusted, the student will be sent an email informing them that a revised award is available to be viewed online.

Special Circumstances

There are several types of special circumstances that can affect a student's status and aid eligibility during the year. For example, an unexpected loss of employment or unusually high medical expenses could potentially be reasons for filing a special circumstances request. Lifestyle choices, such as the purchase of a new car or home, and other situations unrelated to higher education, such as credit card debt, are not considered special circumstances. Special circumstances must always be thoroughly documented. If the student (or the parents) experiences a change in financial situation, the student should contact the Office of Financial Aid.

Disbursement of Financial Aid and Refunds

Financial aid awards will typically be disbursed to the student’s account immediately following the census date of the semester, which is generally at the end of the first two weeks of classes. Students who are missing required documents and items may experience a delay in fund disbursement. Financial aid will first be credited toward any outstanding balance assessed to the account. If the financial aid disbursed is greater than the total student account balance, Student Accounts will issue a refund to the student within 2 weeks of the credit balance. This process is completed by the Business Office.

MacMurray does have a book voucher program. If the student plans on using financial aid funds to purchase books, they may do so at the campus bookstore who will have a report of students with credit balances on file. The earliest a student may charge books is usually the weekend just prior to the start of the semester.

Withdrawal Policy

When a student withdraws, two separate processes occur — the Business Office may prorate tuition and fees (according to their refund procedure), and the Office of Financial Aid prorates financial aid, according to the return of financial aid policy. Students should visit the Withdrawal Process page to learn how to officially notify the College.

The law specifies how schools must determine the amount of Title IV program assistance that students earn if they withdraw from school. The Title IV programs that are covered by this law are: Federal Pell Grants, TEACH Grants, Stafford Loans, PLUS Loans, Federal Supplemental Educational Opportunity Grants (FSEOGs), and Federal Perkins Loans.

When a student withdraws during the payment period or period of enrollment, the amount of Title IV program assistance that was earned up to that point is determined by a specific formula. If the student received (or the school or parent received on the student's behalf) less assistance than the amount that the student earned, the student may be able to receive those additional funds. If the student received more assistance than was earned, the excess funds must be returned by the school and/or the student in the following order.

  1. Federal Unsubsidized Direct Stafford Loan
  2. Federal Subsidized Direct Stafford Loan
  3. Federal Perkins Loan
  4. Federal Direct PLUS Loan
  5. Federal Pell Grant
  6. Federal SEOG
  7. Federal TEACH Grant

The amount of assistance that a student has earned is determined on a pro-rated basis. For example, if the student completed 30% of the payment period or period of enrollment, the student earns 30% of the assistance originally scheduled to be received. Once the student has completed more than 60% of the payment period or period of enrollment, the student earns all the assistance scheduled to be received for that period.

If the student did not receive all of the funds earned, there may be due a Post-withdrawal disbursement. If the Post-withdrawal disbursement includes loan funds, the school must get the student's permission before it can disburse them. The student may choose to decline some or all of the loan funds so that additional debt is not incurred. The school may automatically use all or a portion of the Post-withdrawal disbursement of grant funds for tuition, fees, and room and board charges. The school will need the student's permission to use the Post-withdrawal grant disbursement for all other school charges. If the student does not give permission, the student will be offered the funds. However, it may be in the student's best interest to allow the school to keep the funds to reduce personal debt at the school.

The requirements for Title IV program funds when the student withdraws are separate from the refund policy. Therefore, the student may still owe funds to the school to cover unpaid institutional charges. The school may also charge the student for any Title IV program funds that the school was required to return.

If the student has received funds from the state or an outside agency or received institutional funds, the student will be billed for any amount of funds that is considered an advanced payment. Financial Aid must follow the guidelines specified by those organizations regarding withdrawals. For most aid types a prorated return is required.

Unofficial Withdrawal

If a student stops attending all classes during a semester and does not go through the official withdrawal process, the student is treated as an "unofficial withdrawal." At the end of each semester, the Registrar identifies all students who did not pass at least one class. The office will work with the professors to document the student's last date of attendance. Using that information, the student will be reviewed under the return of financial aid calculation.

Satisfactory Academic Progress Policy (SAP) for Financial Aid

Federal and state regulations require that MacMurray College establish and implement a policy to measure if a financial aid recipient is making satisfactory academic progress (SAP) towards a degree. Satisfactory academic progress is measured by evaluating three criteria: quantitative progress, qualitative progress, and progress toward degree completion. These criteria evaluate the quantity of academic work completed, the quality of academic work completed, and progress toward a degree. Depending upon the outcome of the evaluation, federal, state, and institutional aid may be affected.

This policy indicates the standards that are used to measure satisfactory academic progress at MacMurray College for purposes of financial assistance. This policy applies to all students who are enrolled at the College (full time and part time).

The criteria contained in this policy are applied to all eligible students. Students are evaluated and notified after each academic term if they are not meeting the requirements of this policy.

Criteria for Satisfactory Academic Progress

Quantitative Requirements (quantity of academic work completed)

  1. A student must successfully complete at least 70% of all hours attempted. Attempted hours are defined as any course that the student is enrolled in after the add/drop period expires. Successfully completed hours are defined as the number of hours in which the student receives a grade of A, B, C, D, P, or CR.
  2. Withdrawals, F grades, incompletes, and repeated courses are handled as follows: withdrawals will be counted as hours attempted if they occur after registration or the add/drop period has ended, F grades and incomplete grades are counted as hours attempted but not completed, and repeated classes are counted in hours attempted each time a course is taken.
  3. The cumulative 70% completion rate is monitored at the end of each academic term. The completion rate applies to all terms regardless of whether the student received aid during the term. In addition, all transfer hours accepted by MacMurray College are used in the 70% calculation rate.
  4. Developmental, or remedial, coursework will be counted as hours attempted and earned for the purposes of determining cumulative completion rate.

Qualitative Requirement (quality of academic work completed)

  1. All students' cumulative grade point average (GPA) will be evaluated at the end of each semester. At the end of the first term of enrollment, students must have a minimum cumulative GPA of 1.50 to show reasonable academic progress. At the end of the second term, students must earn a minimum cumulative GPA of 1.75. Students must have a minimum GPA of 2.00 (A = 4.00) by the end of the third and any later term.
  2. Transfer GPA is not used in the qualitative calculation.
  3. Developmental, or remedial, coursework will be counted in the cumulative GPA for the purposes of determining satisfactory academic progress. Repeated coursework will count in the cumulative GPA; whichever grade is highest is used.
  4. Failure to maintain the minimum GPA requirement will result in a change in status to academic probation and result in a change in financial aid status to either warning or probation.

Degree Completion Requirements

  1. The maximum time frame for which a student may receive financial assistance may not exceed 150% of the published length of the program measured in credit hours. For instance, if the published length of an academic program is 120 credit hours, the maximum time frame during which a student will be eligible for financial assistance must not exceed 180 total attempted hours (including accepted transfer and advanced placement credit).
  2. Students completing a second Bachelor's degree must complete their program within a total of 180 attempted credit hours.

Failure to Meet Satisfactory Academic Progress

If a student fails to meet any of the satisfactory academic progress (SAP) criteria, the student will be placed on financial aid warning status for a period not to exceed one term. If the student fails to meet SAP for a second consecutive term, the student will be ineligible to receive financial aid. However, the student may appeal describing the extenuating and/or unusual circumstances that explains why the student failed SAP and how the student plans to meet SAP during the next term. If an appeal is granted, the student will be placed on financial aid probation and will receive financial aid the following term. A student may be placed on an academic plan for one or more terms, which must be followed to ensure continued receipt of financial aid. Failure to meet SAP in any subsequent term will result in loss of financial aid eligibility. An appeal may be submitted; however, MacMurray College reserves the right to deny students' appeals for continued financial aid at any time.

Re-establishment of Financial Aid Eligibility

Students who lose financial aid eligibility due to unsatisfactory academic progress may regain eligibility by raising the cumulative GPA to the minimum standard and/or making up the credit deficiency. Alternatively, students placed on an academic plan must follow the criteria to regain financial aid eligibility. Students not granted a financial aid appeal must complete the requirements at their own cost.

This policy is independent of the academic probation and dismissal policies, which are administered by the Office of Academic Affairs.

Financial Aid Programs

Complete listing and description of financial aid programs.

Ethical Standards and Code of Conduct

Ethical Standards and Code of Conduct.

Net Price Calculator

Prospective students may access the Net Price Calculator to get an early estimate of financial aid eligibility.

Consumer Information Disclosures

Required consumer information disclosures may be found at the Consumer Information page.

Veterans Education Benefits

MacMurray College is a proud participant in the Post 9/11 Yellow Ribbon program. We accept all types of federal veterans and military education benefits. Students with 100% tuition covered by VA will not be eligible for MacMurray College academic scholarships. More information may be found at our Veterans' Education Benefits website.