Frequently Asked Questions for Students
The Financial Aid Office is located in the Center for Student Services in the lower level of the Nugent Building. We can be reached by phone at 212-517-0500 or by email at firstname.lastname@example.org.
The Cost of Attendance (COA) includes tuition, fees, books and supplies, room and board, transportation, and personal expenses. The Estimated Family Contribution (EFC) is based on the information provided on the FAFSA and consists of the expected parental contribution and/or student contribution. The EFC is calculated in a consistent and equitable manner using Federal Methodology, a standard formula established by the U.S. Congress, which determines a family’s contribution. The Office of Financial Aid establishes standard budgets, adjusted for such variables as enrollment status, dependency status, and whether the student lives at home or in MMC’s residence halls. The difference between the COA and the EFC is called the student’s “financial need.”
Cost of Attendance - Family Contribution= Financial Need
A student’s financial planning should begin with an estimate of the total cost of attending MMC for one academic year.
Direct costs include: tuition, fees, room and board charges
Indirect costs include: books, supplies, personal needs, and transportation
MMC will provide a temporary credit on your student bill for the funds estimated on your award letter. Your financial aid awards will then be disbursed (paid) to your account once you have satisfied all program eligibility requirements and any requested paperwork. You may view and monitor the payment of your various aid funds via your MMC Connect account. The funds will be disbursed to your MMC student account as follows:
Federal Grants: Federal need based grants will be disbursed directly to your student account each semester once you have met all institutional and federal eligibility requirements.
Loan Funds: If you/your parent have applied for a Federal Direct Student/Parent Loan and satisfy all loan eligibility requirements, the funds will be disbursed directly to your account each semester through electronic funds transfer for the amount borrowed minus fees in accordance with your loan disclosure. If you have been approved for a private loan, the funds will be disbursed electronically or, in some cases, the lender will forward funds in the form of a check made payable to the student and MMC. Students whose lenders send checks to the college will be notified to visit the Center for Student Services to endorse any co payable loan check.
Institutional Aid: MMC grant and academic scholarship funds will be disbursed directly to your account after the fourth week in each semester.
State Funds: State grants/scholarships will be disbursed directly to your student account each semester when you have met all fund eligibility and application requirements.
The Center for Student Services will communicate with you as follows:
E-mail: All emails will go to your MMC email address
Mail: All mail will be sent to the preferred mailing address designated by the student
Telephone: If necessary, we will call you at the telephone number on record with the college. We strongly encourage you to keep your telephone and mailing address current. Make changes on-line via your MMC Connect account.
MMC Connect: This is MMC’s online student information system. You have the ability to access your account 24 hours a day.