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 $213 to $6345 depending on the student’s 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 Career 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.

VA Education Benefits

VA education benefits can help you pay your tuition, choose a career, and more. If you are an active-duty service member or Veteran, a member of the National Guard or Reserves, or a qualified survivor or dependent, find out if you can get VA education benefits through the GI Bill®* and other educational assistance programs.

Application Fee Waiver

MCC waives program application fee for all eligible service members, including eligible spouses.

GI BILL®

The Montgomery GI Bill® (MGIB-AD, Chapter 30) can help eligible students pay for education and training programs. If you have served at least 2 years on active duty, find out if you qualify for the MGIB-AD program. For additional information visit the U.S. Department of Veterans Affairs GI Bill® information website

The Post 9/11 GI Bill® (Chapter 33) can help eligible students pay for school or job training. If you have served on active duty after September 10, 2001, you may qualify for the Post-9/11 GI Bill® (Chapter 33). Find out if you can get this education benefit. For additional information visit the U.S. Department of Veterans Affairs GI Bill® information website.

Other VA Education and Training benefits may be available. Prospective and current students should speak with MCC’s School Certifying Official or go to https://benefits.va.gov/gibill/ to help determine eligibility for the following education and training benefits:

Chapter 30 – Montgomery GI Bill® (Active Duty)

Chapter 31 – Vocational Rehabilitation Benefits

Chapter 33 – Post 9/11 GI Bill®

Chapter 35 – Survivors and Dependents Assistance

Chapter 1606 – Reserve GI Bill®

Chapter 1607 – Reserve Educational Assistance Program (REAP)

*GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government website at https://www.benefits.va.gov/gibill/.

Flexible Payment Plans and Payment Options

Midwestern Career College now also offers flexible payment plans. Please contact our Admissions Department 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
  • Associate of Applied Science in Surgical Technology
  • Dialysis Technologist Training Program
  • Electroneurodiagnostic (END) Technologist
  • Magnetic Resonance Imaging (MRI) Technologist
  • Medical Assisting
  • Surgical Technologist Training Program

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.

Consumer Information