Department Directory
Email: mlcaid@mlc-wels.edu
Phone: 507-233-9154
Department Directory
How much will an education at MLC cost?
What is the deadline for applying for need-based aid?
APRIL 15
- NOVEMBER 1 is the deadline to apply for second semester only.
- Applications received after April 15 will forfeit MLC need-based aid for the following semester
- Students APPLY by submitting the FAFSA and the MLC Financial Aid Application.
How do I apply for financial aid?
US Citizens must complete the FAFSA and the MLC Financial Aid Application.
- You will need to create your FSA ID/Password in order to electronically sign the FAFSA
- Apply for Financial Aid!
International students are ineligible to complete the FAFSA and therefore must complete the International Need Analysis form as well as the MLC Financial Aid Application.
What information will help me complete the FAFSA?
- Submit the FAFSA by April 15
- Student & one parent will need their FSA ID to sign the FAFSA.
- Get your FSA ID here
- 002361 is the Martin Luther College school code that you will enter on the FAFSA.
- The FAFSA results will be transmitted to MLC electronically.
- Report your name and social security number EXACTLY as it appears on your social security card
- A discrepancy between the information will result in a rejected FAFSA
- You will receive a Student Aid Report (SAR) from the FAFSA processor. The SAR will indicate your family’s Student Aid Index (SAI) and tell you if you are eligible for a federal Pell Grant. Carefully review the SAR for errors and make corrections if necessary.
- If the Department of Education or MLC selects your FAFSA for verification, the Financial Aid Office will inform you of the materials to be submitted such as tax returns and W-2 forms.
When/how do I pay my bill?
Billing of tuition and room & board charges is done through Financial Services.
- To check the status of your most recent balance due, log in to Portal and go to ‘Information > My Statement‘
- Financial Services offers two payment plans:
Twice per semester or 10-monthly payments
See the Financial Services web page for more information
What types of aid can I expect?
Scholarships – Grants – Loans
- Scholarships
- Gift aid that does not need to be repaid
- Grants
- Gift aid that does not need to be repaid
- Loans
- Funds that are repaid along with interest
- Direct Subsidized Loans are need based loans and the interest DOES NOT accrue while in school
- Direct Unsubsidized Loans are NOT need based and interest accrues once the funds disburse
How is my need-based financial aid determined?
The “Student Aid Index” or SAI from the FAFSA determines aid eligibility
- Information on the FAFSA determines the financial “need”
- Family size, number of family members in college, income, and assets
- A basic principle of the Department of Education and of Martin Luther College in regard to financial aid is that paying for college is a family responsibility.
How do I use the IRS Data Retrieval Tool (DRT) through FAFSA?
IRS Data Retrieval Tool instructions
What if I am selected for Verification?
If you are selected for Verification, this information will help you understand the process. You can also call our office with any questions: 507-233-9154.
How do I find a job?
Check out information about student employment HERE.
What if I missed the Financial Aid presentation at my high school?
Check out material from our high school presentations here.
Information is provided from each presentation and is listed by school name and date.
What merit scholarships are available?
Click here to view MLC Merit based scholarships
What grants are available at MLC?
Review information about grants HERE.
What loans are available at MLC?
- Subsidized Loans * no interest accrues while the student is in school
- max of $3500 for freshman
- max of $4500 for sophomore
- max of $5500 for juniors/seniors
- Cumulative maximum of $23,000
- Unsubsidized Loans *interest starts accruing as soon as the funds are disbursed
- max of $2000 if student is eligible for the full subsidized amount
- If uneligible for subsidized, the amounts are:
- $5500 freshman
- $6500 sophomore
- $7500 juniors/seniors
- Cumulative maximum of $31,000
- Provided by private lenders (banks, State of MN, etc.)
- Require a credit-worthy co-signer
- May have limited repayment options
Federal Direct Parent PLUS Loans
- Loans specifically for parents to borrow on behalf of a student
- Both interest and principal are due while student is in college but payments can be deferred while the student is in school (interest will continue to accrue)
Where can I find out more about military benefits?
Check out information about military benefits HERE.
How do I apply for a direct loan?
Complete:
- Direct Loan Entrance Counseling
- Master Promissory Note (MPN)
- Direct Loan Request Form
- Detailed instructions to apply for direct loans
When/how do I find out about my financial aid?
Access your Net Partner account to view your financial aid award
- Portal > Tools > Net Partner
- aid.mlc-wels.edu
- Log in with your Social Security Number and Password
We begin notifying students the first part of April (with priority to incoming first-year students)
What happens to my MLC grants or scholarships if I receive financial aid from outside sources?
- Typically we can add the additional funds with no change to your financial aid award
- Sometimes we need to reduce the loan amounts or adjust the subsidized/unsubsidized amounts if you are near your “financial need” maximum (determined by the Expected Family Contribution from the FAFSA)
- Very rarely we would need to reduce the amount of MLC grants or scholarships
(This only happens if all of the scholarships and grants combined exceeds the total cost of attendance)
What are my rights and responsibilities?
- You may submit a written appeal to the MLC Financial Aid Committee with any concerns about your financial aid award.
- You are required to maintain satisfactory academic progress.
- View MLC’s policy for maintaining financial aid eligibility.
What if I’m planning on getting married?
Please see this page for information pertaining to students that are planning on getting married.
What if I still have questions?
Please contact our office with any questions or concerns:
Financial Aid Office
1995 Luther Court
New Ulm, MN 56073Phone: 507-233-9154
Fax: 507-354-8225
Email: mlcaid@mlc-wels.edu
MLC Direction Instagram
Follow us on Instagram for Financial Aid information such as dates/deadlines and scholarships!
MLC Direction Facebook
Follow us on Facebook to stay on top of important Financial Literacy topics!
Resources
Tools
Connect
