This estimate is for 12 months (two semesters + summer) based on the current year rate but crosses multiple academic years, subject to rate change in the future year.
The program cost varies slightly depending on the entry date and the academic progress for each student. August entry typically completes the program with two semesters plus summer, as per above. February entry combines spring, summer, fall, and one distance education course at no cost.
Additional federal student loans are available for housing, meals, books and personal expenses approximately $17,000.
Additional Financial Aid Information
- Personal Expenses and Books
$7,800 optional additional federal student loans are usually available for books and personal expenses.
- Federal Student Loans
Your FAFSA automatically qualifies you for the majority of federal student loans for this program. The remaining portion is composed of Federal Graduate PLUS loans which require “no adverse credit” or an endorser. Repayment begins after your enrollment ends.
- Education Tax Incentives
- Veterans
For questions regarding Veterans Benefits, please contact Tal Ron, our Veterans Certifying Official and Director of Financial Aid, at
tron@miu.edu or
641-472-1156.
Loan Repayment Options
- Standard
Payments are a fixed amount that ensures your loans are paid off within 10 years (within 10 to 30 years for Consolidation Loans).
- Extended
Payments may be fixed or graduated and will ensure that your loans are paid off within 25 years.
- Graduated
Payments are lower at first and then increase, usually every two years, and are for an amount that will ensure your loans are paid off within 10 years (within 10 to 30 years for Consolidation Loans).
- Income-Based
Your monthly payments will be either 10 or 15 percent of discretionary income (depending on when you received your first loans), but never more than you would have paid under the 10-year Standard Repayment Plan.
- Income Contingent
Payments are recalculated each year and are based on your updated income, family size, and the total amount of your Direct Loans. Any outstanding balance will be forgiven if you haven’t repaid your loan in full after 25 years.
- Income Sensitive
Your monthly payment is based on annual income, but your loan will be paid in full within 15 years.