Financial Aid & Scholarships

MEU’s Rules and Regulations for Financial Aid will apply to the honor loan. Besides, the following conditions are set out below.

Conditions

• Students can receive honor loans up to 80% of their tuition. Students are responsible for the remainder of the tuition, as well as other fees established by MEU.
• If the student is a dorm student, MEU will grant a special scholarship equivalent of twenty percent (20%) of the established value of the dorm and cafeteria.
• The student benefited from the loan must join a student labor department, for which he/she will allocate five (5) hours per week of mandatory and non-remunerated service.
• During the first year of receiving the honor loan the student must participate in one canvassing campaign (Winter or Summer). In this way, the necessary resources will be obtained to face the subsequent periods of study.
• For degrees of up to three (3) years in duration, the loans must be repaid within a maximum period of three (3) years from the end of the degree. For degrees of up to four (4) years in duration (e.g. Freshman plus Bachelor), the loans must be repaid within a maximum period of four (4) years from the end of the degree.
• A grace period of six (6) months will be granted so that the graduate can integrate into the labor market.
• The sum of the loan, updated according to the variations experienced by the tuition credit, will be paid in partial payments according to the financing plans that are agreed upon at the time of starting the repayment.
• The student will sign an Honor Loan Contract and a promissory note at the beginning of each semester.
• Students will not be able to accumulate any other benefit granted by MEU.

How to Apply

Interested students are kindly asked to complete and submit the online Financial Aid application along with the required documents.

It is very important to read the instructions carefully before completing the online application. Applications that have missing information and/or missing documents will be considered incomplete and hence will not be evaluated.

When to Apply

Applications for Financial Aid and Scholarships are welcome at any time of the year and responses will be provided within two weeks from the application date. For Fall Semester, priority will be given to applications received before May 31. For Spring semester, priority will be given to applications received before October 31.

Applicants are advised not waiting until the last few days before the semester begins, since completing the application and preparing all the required documents may take a week or more and you need to consider the two weeks of the Financial Aid Application turnaround.

Application Remarks

• The Honor Loan applications are valid for one semester only. A new application is required for each new semester.
• The application should be completed by the applicant online.
• Upon submitting the application, an interview may be required if requested by the Financial Aid Committee.
• Home visits may be required by the Financial Aid Committee.
• MEU reserves the right to verify the authenticity of any presented document or information submitted.

Required Documents

All applicants are asked to submit photocopies of the required documents while keeping the originals for verification purposes during the interview. In addition to the list below, some students may be asked to submit additional documents based on the interview/house visit assessments. Only complete applications, including all required documents will be processed.

In addition to your application form, you will need to submit:

• One passport-size photo.
• Individual civil status record issued within the last three months.
• Family civil status record issued within the last three months.
• If the provider(s) is/are employed: a recent employment letter stating occupation, years of service and gross monthly income including all additional benefits.
• If the provider(s) is/are self-employed/business owner(s): a commercial circular, shareholders and company’s balance sheet.
• If applicable, family’s additional revenues: rented out properties, copy of rental contract(s) and/or ownership deed(s) of family-owned properties (house, land, building, etc.). Make sure to submit/upload a COPY of the Ownership Certificate and keep the original to yourself.
• Copy of car(s) registration form (family and personal).
• Any additional documentation considered relevant by the applicant.

Eligibility

• Any nationality.
• Undergraduate degree.
• Provide evidence of financial need.
• An exemplary character, a strong sense of community and citizenship.
• A cumulative GPA higher than 2.0.
• A minimum of 12 credits per semester.

Disqualification

• Criminal behavior, gross misconduct (Sanctioned by the Student Affairs Committee), financial distress, violation of contract conditions, or violation of the Financial Aid conditions.
• Students will not be able to benefit from the Honor Loan if they fail or withdraw two courses or more for the program.