Financing Your Education

Financing Your Undergraduate Education

Federal and State Sources of Aid

To determine eligibility for Complete the 2022-2023 Free Application for Federal Student Aid (FAFSA) using your 2020 federal tax return. Muhlenberg College’s school code is 003304. This will serve as the needs analysis and will determine eligibility for the Federal Pell Grant, PHEAA PA State Grant, and Federal Student Loans. Additional help with FAFSA questions can be found here.

Grants

Eligibility for the Federal Pell Grant and Pennsylvania State Grant is estimated according to information provided on your FAFSA. Grants are based on financial need and do not have to be repaid. Grants are subject to revision during the year, based upon enrollment changes and academic progress.

Loans

Federal Direct Loans are available to students who have completed the FAFSA and are enrolled at least half-time. Interest rates for the student loan program for 2022-2023 will be 4,99%. The Subsidized Loan is need-based; the interest is paid by the government while the student in enrolled at least half-time. The Unsubsidized Loan is not need-based; interest begins accruing after disbursement, but can be paid while in school. Interest and principal payments on Direct Loans may be deferred while the student is enrolled at least half-time.

The following annual loan amounts are available to independent undergraduate students:

The aggregate loan limit for undergraduate students is $57,500; no more than $23,000 of this amount may be in Subsidized Loan.

Scholarships

• Charlotte W. Newcombe Scholarship – Applicants must be 25 or older and pursuing their first Bachelor’s degree. Students must also have at least half of their academic requirements completed for their intended degree and possess a cumulative GPA of 2.5. Completion of the FAFSA is also required.
• Dr. Samuel Laposata Scholarship - This scholarship was established to benefit matriculated students who have completed a minimum of four courses and are in good academic standing. Students must qualify for financial aid under standard granting procedures.
• Community Service Scholarship - Applicants must be engaged in meaningful community service via employment/volunteerism with a local community-based/non-profit organization. Recipients are chosen by the Community Service Scholarship Committee and receive a tuition scholarship equal to five courses per academic year.

Outside Scholarships can be found here.

Scholarship Search Online

• fastweb.com
• finaid.org
• collegeboard.com/pay
  

Other Resources

• Employer Provided Assistance
  Many area companies have tuition reimbursement plans for their employees. Contact your employer’s human resources department for details. We provide tuition payment deferment for students who are using employer benefits.
• Military Education Benefits
  Veterans who want to apply for benefits under the current G.I. Bill should discuss their eligibility and application process with a Continuing Studies Advisor.

Any outside scholarships, employer benefits, or other sources of financial aid should be reported to the Office of Financial Aid.

Summer Semester Financial Aid

Financial Aid is available for the summer semester for eligible students who are enrolled at least half-time and have completed the 2022-2023 FAFSA. Financial aid disbursements typically occur after July 1st.

Students can apply directly for the 2022 Summer PA State Grant provided enrollment is at least half-time and for a minimum of five (5) consecutive weeks. Visit pheaa.org/summergrant to apply online.