One-Stop Student Services 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.
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.
One-Stop Student Services 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.
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 Mac.edu 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:
- file the Free Application for Federal Students Aid (FAFSA) each year;
- be a US Citizen or an Eligible Noncitizen;
- if male, be registered with Selective Service;
- have a high school diploma or GED High School Equivalency diploma;
- be enrolled in a degree-seeking or approved certificate program;
- not be in default on any federal educational loans or owe a refund on a federal grant;
- maintain Satisfactory Academic Progress.
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 http://www.fafsa.gov. FAFSAs are available on October 1 of each year (for classes beginning the following August). The priority deadline for completion of the FAFSA for each upcoming school year is November 1. FAFSAs are accepted after November 1, but due to limited funding in some programs, students may no longer be eligible for some types of assistance.
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 ID and password in order to be able to sign the form electronically.
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.
Per the federal regulations, selected students must submit additional documentation to One-Stop Student Services 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 One-Stop Student Services 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.
Determining Financial Need
After completing the FAFSA, the U.S. 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:
- books and supplies;
- room and board;
- miscellaneous personal expenses;
- loan fees (if borrowing a federal loan).
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 student's Expected Family Contribution (EFC) and any other outside resources from the student's 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.
Once the student's FAFSA and any additional required documents have been processed, One-Stop Student Services 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 Mac.edu. 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 winter.
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.
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 One-Stop Student Services.
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 enrolled for one semester only will have their loans disbursed in two equal installments — one after census and the other at the mid-point. First-time student loan borrowers will have the first disbursement of the loan delayed for the first 30 days of the semester.
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, a refund of the credit balance will be issued to the student within 2 weeks. Refunds are available by check on One-Stop. Students will be notified when a refund is generated.
MacMurray does have a book voucher program. If students plan to use their credit balance or payment plan to purchase books, they may do so at the campus bookstore, which 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.
Return of Title IV Funds and Withdrawal Policy
To withdraw officially and completely from MacMurray College, a student must fill out a withdrawal form and contact One-Stop Student Services in the Jenkins Education Center (second floor) or by phone at 217-479-7041. Students may experience a reduction in financial aid eligibility based on federal regulations. Separately, there is also a refund policy by which the College pro-rates charges for the first 4 weeks only of the semester. MacMurray College will hold official transcripts and/or diplomas on students who have not completed the official withdrawal process, including any applicable requirements. Visit the One-Stop Student Services withdrawal process page for more details.
Students who do not initiate the official withdrawal process by contacting One-Stop Student Services, but otherwise stop attending and leave the College, will be considered an unofficial withdrawal. At the point in which One-Stop learns of the student's absence, the last date of attendance in academic-related activities will be documented. If the last date of attendance is unable to be accurately documented, the midpoint of the semester will be used as the withdrawal date.
Federal regulations require Title IV financial aid funds to be awarded under the assumption that a student will attend the institution for the entire payment period in which federal assistance was awarded. When a Title IV grant or loan recipient withdraws from all courses for any reason, including medical withdrawals, he/she may no longer be eligible for the full amount of Title IV funds that he/she was originally scheduled to receive. The return of funds is based upon the premise that students earn their financial aid in proportion to the amount of time in which they are enrolled.
The Title IV programs that are covered by this law are: Federal Pell Grants, TEACH Grants, Direct Subsidized and Unsubsidized Loans, PLUS Loans, Federal Supplemental Educational Opportunity Grants (FSEOGs), and Federal Perkins Loans. The College must return unearned funds to the Department of Education as soon as possible but no later than 45 days from the determination of the student's withdrawal.
A pro-rated schedule is used to determine the amount of federal student aid funds he/she will have earned at the time of the withdrawal. Thus, a student who withdraws in the second week of classes has earned less of his/her financial aid than a student who withdraws in the seventh week. Once 60% of the semester is completed, a student is considered to have earned all of his/her financial aid and will not be required to return any funds. Institutional charges are refunded only during the first four weeks of the term in accordance with the refund policy of the College.
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. In the event of a grant overpayment, the College must notify the student within 30 days that he or she must repay any overpayment or make satisfactory payment arrangements. 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:
- Federal Unsubsidized Direct Stafford Loan
- Federal Subsidized Direct Stafford Loan
- Federal Perkins Loan
- Federal Direct PLUS Loan
- Federal Pell Grant
- Federal SEOG
- Federal TEACH Grant
- A student is considered to have withdrawn from a payment period in which the student began enrollment if the student ceases attendance in all scheduled courses without completing all of the days the student was scheduled to complete in the period.
- Students that will not require the College to perform a return of Title IV funds calculation, include students who was awarded Federal Work-Study (FWS) only; who dropped classes but did not completely withdraw; who never began attendance in any classes; or for whom the institution cannot document at least one day of class attendance; etc.
- There is a difference between a withdrawal and a change in enrollment status for return of Title IV funds purposes for courses offered in modules (i.e., online 8-week sessions). A withdrawal is a complete and total withdrawal of all courses in a term. Withdrawing from all courses in the first module of a term while continuing to be registered for courses in the second module does not constitute a withdrawal; rather, it would be considered a change in enrollment status.
- A list of federal financial aid programs to which the return of Title IV funds requirements apply:
- Pell Grant,
- Federal Supplemental Educational Opportunity Grant (FSEOG),
- Federal Perkins Loan,
- Direct Stafford Loans,
- Parent PLUS Loans,
- Federal TEACH Grant.
Guidance for Programs Offered in Modules
These regulations aim to provide for consistent and equitable treatment of students who withdraw from a program measured in credit hours, regardless of whether courses in the program span the entire term or consist of shorter modules. The Online program at MacMurray is delivered using modules instead of standard semesters.
- A student is considered to have withdrawn from a payment period in which the student began enrollment if the student ceased attendance in all scheduled courses without completing all of the days the student was scheduled to complete in the period.
- However, if a student provides written confirmation to the College before ceasing attendance that the student plans to attend another course later in the same period, the student is not considered to have withdrawn. For a module program, the next course the student plans to attend during the period must begin within 45 days after the end of the course the student ceased or failed to attend in order for the student not to be considered withdrawn. If a student does not resume attendance within the scheduled timeframe, the student is considered to have withdrawn as of the date on which attendance ceased.
- If a student does not provide written confirmation of plans to return to school later in the same period, a school considers the student to have withdrawn and performs a return of Title IV funds (R2T4) calculation to determine if any funds must be returned. However, if the student does return to school in the same period — even if the student did not provide written confirmation of plans to do so — the student is not considered to have withdrawn and is eligible to receive Title IV funds for which the student was eligible before ceasing attendance. The College must reverse the R2T4 process and provide any additional funds the student is eligible to receive at the time of return.
- The policy impacts all programs offering courses shorter than an entire term, including semester-based programs consisting of two consecutive eight-week sessions.
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 College must notify the student within 30 days of eligibility for a Post-withdrawal disbursement. 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. One-Stop Student Services must follow the guidelines specified by those organizations regarding withdrawals. For most aid types, a prorated return is required.
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, One-Stop Student Services 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.
Financial Aid Programs
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.