Financial Aid is disbursed through the Business Office. Students receiving financial aid will have these funds applied to their charges (tuition, room and board) and mandatory fees. All accepted financial aid is shown as a credit on the student account statement. Funds credited to your account are subject to revision due to changes in course registration, housing or receipt of additional resources.

If there is a MAP grant in your financial aid package, this award is an estimate based on a course registration of at least 15 credit hours per semester.  The MAP grant may be reduced each semester you are enrolled in less than 15 credit hours.

Stafford and PLUS loans disbursed by electronic fund transfer (EFT) will be posted to the student account upon receipt of the funds. Loans for those borrowers who did not check EFT on their loan application or whose bank does not participate in ISAC’s EFT process will be sent to Monmouth College in the form of a paper check. Endorsement by the student or parent is required before the loan can be posted to the student account. Notification will be emailed to you if there is a check for you to endorse. 

First-time borrowers include returning students borrowing for the first time, transfer students and first-time freshmen. Loans for first-time borrowers at Monmouth College will not be disbursed until approximately 30 days after classes begin. This is in accordance with federal regulations.

If financial aid does not cover all charges, the net amount is your out of pocket cost.