IMPORTANT: This estimate is based on one year for a typical third-year, full-time, on-campus student who does not have a prior bachelor’s degree, is not married, and is without significant assets.
Additional Financial Aid Information
Personal Expenses and Books
Federal Work-Study and additional federal student loans are available to cover this estimated $4,800.
Scholarships and Grants
Scholarship from MIU described above consists of the Federal Pell Grant and the Federal Supplemental Education Grant and is based on (1) full-time enrollment and (2) financial need based on expected FAFSA outcome.
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.
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.