Financial Aid & Scholarships
News & Updates (2026-27)
The 2027-28 has opened to begin filing your FAFSA. The 2027-28 FAFSA uses your 2025 Federal Tax Information.
Beginning with the 2026-27 academic year, financial aid information is no longer available in the myMU Portal. To view your financial aid offer, documents, and requirements, please log in to the myMU Experience.
The 2026-27 FAFSA is available in October at studentaid.gov. If you do not already have an FSA ID, you can create one when logging in to studentaid.gov or any questions and/or assistance refer to the FSA ID website or call 800. 557.7394.
The 2026-27 FAFSA must be completed using your 2024 tax information. We suggest that you use the IRS data retrieval tool (if eligible) to link your 2024 (prior/prior year) IRS information to the FAFSA. The FSA ID-a username and password must be used to log in to certain U.S. Department of Education websites. Your FSA ID confirms your identity when you access your financial aid information and electronically sign Federal Student Aid documents.
Federal sites that require an FSA ID – The National Student Loan Data System (NSLDS), which keeps a record of all the student / parents federal loans; Free Application for Federal Student Aid (FAFSA); FSA ID; and Federal Direct Loan / Pell Grant at studentaid.gov.
The priority deadline for completing the FAFSA (Free Application For Federal Student Aid) at Methodist University is June 1, 2026. Attention all returning students for maximum consideration of all MU’s need-based funds (Founders Grant, Work Study, Etc.), The FAFSA must be received, and financial aid file completed by the priority deadline of June 1, 2026.
2026-27 Financial Aid Forms are available in October on the MU website!
2026-27 Parent PLUS and Grad PLUS Loans – Applications for MU opened with the Department of Education on May 1, 2026, at studentaid.gov.
Three-Year Default Rate
The Department of Education has released the three-year Cohort Default Rate. Listed below are the rates for Methodist University as of Oct. 1, 2026:
| Cohort Fiscal Year | Official Default Rate | No. of Borrowers in Default | No. of Borrowers in Repayment | Enrollment Figures | Percentage Calculation |
|---|---|---|---|---|---|
| 2023 | 0.5 | 3 | 540 | N/A | N/A |
| 2022 | 0 | 0 | 508 | N/A | N/A |
| 2021 | 0 | 0 | 515 | N/A | N/A |
Enrollment Note: To provide context for the Cohort Default Rate (CDR) data, we include Enrollment Figures (students enrolled at any time during the year) and the corresponding Percentage Calculation (borrowers entering repayment divided by that enrollment figure). There is no direct relationship between the timing of when a borrower entered repayment and any particular enrollment year; we have chosen to use the academic year ending on the 30th of June before the beginning of the cohort year. CDR data is not displayed when the Number of Borrowers in Repayment (number of borrowers entering repayment in the cohort) is 10 or fewer.
Hello future Monarchs!
As you probably already know, MU offers financial aid to 99% of its students, and we work very diligently — even if it takes a little bit more time — to make sure ALL of our students get All of the help they can to afford an excellent MU education.
With that, for students who have completed their FAFSAs already (way to go!), we’re currently working on your financial aid packages and will disperse that information as soon as we can. We’re crossing every “t” and dotting every “i” to make it the best package possible for you. As those details are finalized, students will be notified and the packages can be checked via the my MU Experience portal.
We look forward to sharing the great news about your financial aid offer very soon.
We know financial aid and scholarship information play a critical part in determining which institution you want to go to. At Methodist University, we are confident you will receive the attention and assistance you need to fully participate in financial aid and scholarships. In fact, check out the infographic and financial aid calculator below to see how you can combine excellence with affordability at Methodist University!
Important Changes to Federal Student Financial Aid
The One Big Beautiful Bill Act (OBBBA) includes changes to loans, effective July 1, 2026. Our office is closely monitoring all updates to this legislation. Below are key elements of the OBBBA changes.
If a student enrolls in less than full-time credits, the total amount of federal student loan funds they may borrow for the year will be reduced. A student’s loan eligibility may be adjusted during the academic year if they change their enrollment, including dropping courses after census (resulting in a “W” grade) or fully withdrawing from a term within the academic year.
The Graduate PLUS Loan Program has been eliminated with the enactment of OBBBA.
- Students who are considered new borrowers will no longer be able to borrow through the Graduate PLUS Loan Program.
- Students who qualify for legacy status may continue to use Graduate PLUS loans as long as they maintain legacy status and remain enrolled in their academic program.
- For more information on the legacy provisions, please see the Legacy Status Requirements section below.
Some students are exempt from the new federal loan requirements under the One Big Beautiful Bill Act. These students qualify for legacy status, allowing them to continue under previous loan rules for up to three years or the expected time to credential, whichever is shorter, if they remain eligible.
Legacy status is automatically granted to students who meet the following criteria:
- Enrolled in a program at Methodist University and received a Federal Direct Student Loan for that same program before July 1, 2026.
- If the student meets the above, and is an undergraduate student, the student must maintain continuous enrollment in the same Methodist University degree type to retain legacy status.
- If the student meets the above and is a graduate or professional student, they must maintain continuous enrollment in the same Methodist University degree type and academic program to maintain legacy status.
Expected time to credential is equal to the lesser of:
- The difference in the original length of the student’s program minus the portion of the program they have already completed; or
- Three academic years
Annual loan limits apply to the amount of federal loan funds a student or parent could receive in an individual academic year.
Aggregate loan limits are the total limit of loan funds a student or parent can borrow for the duration of their programs of study and could vary based on loan forgiveness, cancellation, or repayment.
Follow this link to view a chart describing the current annual and aggregate loan limits compared to the changes to those limits in the One Big Beautiful Bill Act (OBBBA).
By The Numbers
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25%-30%
MU graduates consistently rank in the top 25 to 30 percent from North Carolina four-year colleges and universities when measuring average salary 10 years after enrollment
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26.5%
Freshmen who receive a Presidential Scholarship
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$41,663
Average financial aid award for incoming freshmen
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$16,605
Average first-year Presidential Scholarship award
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99%
MU students who qualify for financial assistance
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$16,520
Average net cost after financial aid for incoming students who live on campus
Financial Aid Calculator
Do you want to calculate approximate educational costs? Please feel free to use the Methodist University Net Price Calculator.
Frequently Asked Questions
To obtain an IRS Tax Return Transcript, go to irs.gov. After user authentication, students or parents will provide the reason for the request, select the year(s), type(s) of information requested, and other requested information and the document will be displayed in a PRINTABLE format. Make sure to request the “IRS Tax Return Transcript” and not the “IRS Tax Account Transcript.” Use the Social Security Number (or the IRS individual taxpayer identification number) and the date of birth of the first person listed on the IRS income tax return, and the address on file with the IRS (normally this will be the address used on the IRS income tax return). In most cases, for electronic filers, a IRS Tax Return Transcript may be requested from the IRS within 2-3 weeks after the IRS income tax return has been accepted by the IRS. Generally, for filers of paper IRS income tax returns, the IRS Tax Return Transcript may be requested within 8-11 weeks after the paper IRS income tax return has been received by the IRS.
North Carolina residency will be made by the State through its Residency Determination Service (RDS) website. Additional information is located on our North Carolina NC Residency Determination page. Residency Determination must be completed no later than 30 days after the term start.
To track your federal loans, go to studentaid.gov. If you received your first federal student loan after June 30, 2013, there is a limit on the maximum period of time (measured in academic years) that you can receive Direct Subsidized Loans. In general, you may not receive Direct Subsidized Loans for more than 150% of the published length of your program. This is called your “maximum eligibility period.”
To track Pell Grant history, go to studentaid.gov. There is a limit to the total amount of Federal Pell Grant that a student may receive, which is equivalent of six school years.
Visit our Satisfactory Academic Progress page. The guidelines have recently been revised.
You can now track your financial aid status in your MySelfService, (view financial aid offers, missing or received information, or download documents and forms). For timely disbursement of funds, please submit any outstanding information to the Financial Aid Office as soon as possible.
Office Information
- Campus Location: Student Financial Services, One Stop, Davis Memorial Library
- Telephone Number: 910.630.7192/7193 or 800.488.7110 (toll-free)
- Office Hours: Monday – Friday, 8:00 a.m. – 5:00 p.m.
- Mailing Address: Methodist University: Student Financial Services, 5400 Ramsey Street, Fayetteville, NC 28311
- FAFSA Federal Code: 002946