Types of Aid

Grants and Scholarships - These are types of gift assistance that do not require repayment and are available from several sources:
  • McMurry University Institutional Awards - More than $2.5 million is awarded annually to students.
  • Texas State Government - Tuition Equalization Grant (TEG) for Texas residents.
  • Federal Government - Pell Grants, and Supplemental Educational Opportunity Grants (SEOG).
  • Other - Foundations, corporations, civic and community organizations provide assistance to our students each year.

Loans - Generally, these are repayable after the student leaves school. Most students are awarded Federal Stafford Loans. Other available loan programs include Carl Perkins Loan, Parent Loans (PLUS),College Access Loan for Texas residents and Private Alternative loans.

Work Opportunities - Eligible students are offered on-campus employment and work an average of 10 hours per week.

How Aid is Calculated

Most families are not able to pay the entire cost of college. Financial aid (grants, scholarships, work opportunities and loans) is available to cover the difference between what a family can pay and what college costs. The system of financial aid is based on the following:
  • To the extent they are able, parents have the primary responsibility to pay for the education of their dependent children.
  • Students also have a responsibility to help pay for their education.
  • The present financial situation of the family should be evaluated.
  • All families must be treated in an equitable and consistent manner, while recognizing that special circumstances can affect a families ability to pay.

When you apply for federal student aid, the information you report is used to calculate your Expected Family Contribution (EFC). The EFC is calculated from information provided on the FAFSA, including parental and student income and assets, and is used in an equation to determine your financial need:

Cost of Attendance -
Expected Family Contribution (EFC)
Financial Need (Unmet Need)

Your financial need is used to determining your need for federal, state, and instutional aid. To assure your best award, please submit your FAFSA as soon as possible after October 1 each year.

The Financial Aid Office can adjust the Expected Family Contribution or your cost of attendance if documentation of your family’s financial circumstances is provided. This adjustment is not automatic or guaranteed, but please feel free to check with the Financial Aid Office if you feel you may have a special circumstance. Adequate documentation will be needed to support adjustment, and the Financial Aid Office’s decision is final.

You should check with the Financial Aid office if you feel that you have special circumstances that might affect the amount you and your family are expected to contribute. But remember that there has to be good reasons for the financial aid administrator to make any adjustments and you will be expected to provide adequate proof to support those adjustments. The financial aid administrator's decision is final and cannot be appealed to the U.S. Department of Education.

Complete your FAFSA today!

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