IMPORTANT: This estimate is based on one year for a typical first-year, full -time, on-campus student who is not married, and neither the student or parents have significant assets.
*Applicable only to students living on campus
Additional Financial Aid Information
Personal Expenses and Books
Estimated additional cost of books and supplies is $4,800 and may also be covered by a Federal Parent Loan.
Scholarship
Scholarship from MIU is a general estimate for this income range but can vary extensively depending on the financial need as determined by the FAFSA.
Federal Student Loans
Repayment begins after your enrollment ends. Unique repayment plans are available such as income-based, Public Service Loan Forgiveness, and deferments based on low income or unemployment.
Federal Parent Loan
Information and application for a Federal Parent loan is available at
StudentLoans.govEducation 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.