Financial Aid and Grants | Midwestern Career College

Financial Aid and Grants

U.S. Federal Student Aid

Students in most MCC programs are eligible to apply for U.S. Federal Student Aid. You may apply at www.fafsa.ed.gov by filling out the Free Application for Federal Student Aid (FAFSA), an online application submitted to the U.S. Department of Education.

  • For Midwestern Career College to receive the results, you must enter MCC’s Federal School Code, 041390.
  • The FAFSA must be completed annually to ensure federal aid eligibility for each academic year.
  • If you estimated your income information on your FAFSA, please be sure to update the information once your income tax return is completed. Leaving the income information as estimated will delay your financial aid processing.

It may take at least three business days for MCC to receive your completed FAFSA information from the government.

Federal Pell Grant

The largest Federal-need based student aid program providing grant assistance ranging from $606 to $5920 depending on the students EFC. The pell grant is a federally funded program.

Federal Loans 

Students may qualify for federal loans, which may be more favorable than private education loans. Midwestern Career College does not offer any private loans.

Year

Dependent Students (except students whose parents are unable to obtain PLUS Loans)

Independent Students (and dependent undergraduate students whose parents are unable to obtain PLUS Loans)

First-Year Undergraduate Annual Loan Limit

$5,500—No more than $3,500 of this amount may be in subsidized loans.

$9,500—No more than $3,500 of this amount may be in subsidized loans.

Second-Year Undergraduate Annual Loan Limit

$6,500—No more than $4,500 of this amount may be in subsidized loans.

$10,500—No more than $4,500 of this amount may be in subsidized loans.

Third-Year and Beyond  Undergraduate Annual Loan Limit

$7,500—No more than $5,500 of this amount may be in subsidized loans.

$12,500—No more than $5,500 of this amount may be in subsidized loans.

Graduate or Professional Students Annual Loan Limit

Not Applicable (all graduate and professional students are considered independent)

$20,500 (unsubsidized only)

Subsidized and Unsubsidized Aggregate Loan Limit

$31,000—No more than $23,000 of this amount may be in subsidized loans.

$57,500 for undergraduates—No more than $23,000 of this amount may be in subsidized loans.

$138,500 for graduate or professional students—No more than $65,500 of this amount may be in subsidized loans. The graduate aggregate limit includes all federal loans received for undergraduate study.

WIOA Grants/Voucher Program

Midwestern College is approved by the IETCs for the WIOA program. Please contact your local unemployment office to check the eligibility criteria and to start the grant/voucher application process.

Department of Veterans Affairs Tuition Funding Programs

All healthcare programs are approved by the Department of Veterans Affairs for funding or reimbursement. Please contact our Admissions Office for details at (312) 236-9000 or admissions@mccollege.edu.

If you served on Active Duty, you might be eligible for education benefits offered by the Department of Veterans Affairs. For example, the Post-9/11 GI Bill provides financial support for educational and housing expenses to individuals with at least 90 days of aggregate service after September 10, 2001, or individuals discharged with a service connected disability after 30 days. You must have received an honorable discharge to be eligible for the Post-9/11 GI Bill.

If you are currently serving in the military, you may be eligible for funding offered through the Department of Defense Tuition Assistance program. Check your eligibility status and the amount for which you qualify with your Service prior to enrolling.

If you are the spouse or child of a service member who is serving on active duty Title 10 orders in the paygrades of E1-E5, O1-O2, or W1-W2, you may be eligible for financial assistance from the Department of Defense for education, training, and/or the occupational license and credentials necessary for a portable career.

If you are the spouse or child of a service member, you may be eligible for transfer of the service member’s Post-9/11 GI Bill benefits to you.

Flexible Payment Plans and Payment Options

Midwestern Career College now also offers flexible payment plans. Please contact our Admissions Office for details at (312) 236-9000 or admissions@mccollege.edu.

Programs

Financial Aid is available for the following programs for those who qualify:

  • Associate of Applied Science in Diagnostic Medical Sonography
  • Associate of Applied Science in Magnetic Resonance Imaging (MRI) Technology
  • Associate of Applied Science in Non-Invasive Cardiovascular Sonography
  • Dialysis Technologist Training Program
  • Surgical Technologist Training Program
  • Medical Assisting Program – Diploma
  • Magnetic Resonance Imaging (MRI) Technologist

Method and Frequency of Disbursement

Financial aid is credited to eligible student accounts once the funds are received. Disbursements are made after 30 days of attendance. Depending on how many terms, there are 3 separate disbursements made in each term which consists of Pell, Subsidized loans and Unsubsidized loans. If your tuition and fee bill is completely paid and you have a credit balance, you will be issued a refund check, that can be picked up at the school. Checks are usually distributed 10-12 weeks after the term starts.

Student Loan Consolidation

For those with expensive or complex monthly payments on student loan debts, consolidation or refinancing may be helpful. See this Student Loan Consolidation Guide for more information.

Gainful Employment

Financial Aid Verification Policy

Code of Conduct for FSA Loan Program

Terms and Conditions of the Title IV HEA loans

Loan Entrance Counseling

Loan Exit Counseling

Eligibility Requirements

Types of Aid

How to Apply

How to Repay Your Loans