MCHP's Financial Aid Process
Financial FAFSA School Code: 006305
Any student enrolled in MCHP, who qualifies for financial assistance, will receive aid to the extent funds are available. The amount of actual aid awarded depends upon the financial need of the individual student, and, therefore, will reflect the student and/or family's financial circumstances. All such information is strictly confidential.
Financial need is the difference between costs (tuition and fees, room, board, student uniforms, books, supplies, travel and personal expenses) and the amount of money the student and/or the student's family can afford to pay, as determined by a standard formula, established by Congress, and approved by the Secretary of Education. The amount is referred to as the Federal Methodology and the calculation is:
- Cost of Attendance - Estimated Family Contribution = Need.
The basis for figuring the Expected Family Contribution is completion of the "Free Application for Federal Student Aid (FAFSA). The information provided on the FAFSA determines the expected family contribution and these results are used to determine a student's financial need. A Financial Aid Professional Judgment will be done only in a most unusual situation.
Students that wish to apply for financial aid should submit the FAFSA to the Federal Processor of the U.S. Department of Education by May 1st to meet State scholarship and grant deadlines. Students are required to apply on-line at www.FAFSA.ed.gov. Students are required to reapply for financial aid for each academic year they wish to be considered for.