Meridian University has a Financial Assistance Program for those students who have financial need. Financial Aid at Meridian is available in the form of Loans, Diversity Grants, and Scholarships. Financial Aid is awarded for one year at a time; therefore students apply for Financial Aid each academic year that Financial Aid is needed. Meridian considers all financial assistance requests and works individually through the financial aid process with each applicant accepted into Meridian’s graduate programs.
Financial planning for graduate school requires drawing from all available sources, including personal income, savings, home equity lines, investments, family resources, and any other sources of loans or grants.
Meridian financial aid is available on the basis of need and the availability of funds. For the 2011-12 academic year, qualified students may apply for Financial Aid in $500 increments, ranging from $1,000 to $12,000. Students needing aid in excess of $12,000 are encouraged to seek alternative loan sources.
Qualified students may request a scholarship by indicating their request on the Financial Aid Application and submitting a letter that speaks to the student’s qualifications for the scholarship. Scholarships are awarded in $500 increments ranging from $1,000 to $8,000. The following criteria are applied in scholarship determination. 1) Demonstrated Need and 2) Outstanding Merit as demonstrated in Academics, Community Service, and/or Professional Achievement.
Qualified students may request a Diversity Grant by indicating their request on the Financial Aid Application and submitting a letter that speaks to the student’s qualifications for the grant. Grants are awarded in $500 increments ranging from $1,000 to $8,000. The following criteria are applied in grant determination. 1) Demonstrated Need and 2) Meets Race and Ethnic Diversity criteria.
The interest rate for student loans taken this year is 7%, compounded monthly.
Loan repayment begins one month after the end of coursework with one’s cohort. Repayment terms are stated in the Promissory Note.