Financing Your Education

Yes, college is expensive, but at Martin Luther College,we do everything we can to keep your costs as low as possible. And you will almost certainly receive financial aid in some form; 95% of our students do.

Your Costs 2008-2009

How to Apply for Aid

• Complete and file the FAFSA (Free Application for Federal Aid) online at www.fafsa.ed.gov. MLC’s school code is 002361. You may also submit a paper FAFSA.
• Complete the separate MLC Financial Aid Application and submit it to the MLC Financial Aid Office.
• Due dates:
    April 15 for fall semester
    November 1 for spring semester

To be eligible for MLC need-based financial aid, these deadlines MUST be met.

After we receive your FAFSA, we will send you your “financial aid package." You may receive the following types of financial aid:

• Scholarships – MLC and others (do not have to be repaid)
• Grants – federal, state, and MLC (do not have to be repaid)
• Loans – Both students and parents may obtain loans. (have to be repaid after leaving school)
• Work study jobs – on/off campus

MLC Scholarships

Martin Luther College will award about $625,000 in merit-based aid in 2008-2009. Here is a sampling of our scholarships:

• Presidential Scholarship: $2,500 to each high school valedictorian
• National Merit Finalist Scholarship: $3,000 to each Merit Finalist
• Messenger Scholarship: $1500 to each freshman with a high school GPA of 3.75-4.00 or an ACT score of 30 or above
• Witness Scholarship: $1,000 to each freshman with a high school GPA of 3.50-3.74 or an ACT score of 27-29
• Ministry Scholarships: $750 to 70 sophomores, juniors, seniors, or fifth-year students whose gifts may not show up on a report card (chosen by faculty each year)

Some Grant Sources

• Federal Pell Grant, $400 to $4,800
• MLC Grant, $200 to $6,300
• Federal Supplementary Educational Opportunity Grant, $200 to $1,000
• Minnesota State Grant, $8,499 maximum
• Salem Grant, $200 to $1,000
• WELS Distance Grant, $400 to $1,300

• Federal Academic Competiveness Grant, $750 to $1,300

Some Available Loans

• Federal Perkins Loan, $4,000 max
• Federal Stafford Loan, $3,500 max first year
• SELF (Minnesota loan), $7,500 annually
• Federal PLUS Loan, for parents

Jobs

A special online service called MLC JobsExpress helps match up students with on- and off-campus jobs, as well as work-study jobs. On-campus jobs are available in the cafeteria, library, music department, athletic department, and various offices.

Questions?

Call 507.354.8221 to speak to your admissions counselor or the financial aid office or go to www.mlc-wels.edu/go/fafaq.