Grants are one of the best kinds of aid because they don’t need to be paid back. They are awarded for one year at a time and can be renewed. Here are a few examples of federal and state grants:

• Federal Pell Grant
• Federal SEOG Grant
• Federal Teach Grant
• Iowa Tuition Grant
• Iowa National Guard
• Federal Iraq and Afghanistan Service Grant
• All Iowa Opportunity Scholarship
• Karen Misjak GEAR Up Iowa Scholarship
• Education and Training Voucher (ETV)
• Future Ready Iowa Grant
• Vocational Rehabilitation Grant

Federal Loan Options

Federal loans have to be paid back, but are fixed at a low interest rate. Some loans accrue interest while you’re in school (unsubsidized), while others don’t (subsidized). Some examples of federal loans include:

• Direct Subsidized and Unsubsidized Loans
• Direct Parent PLUS Loans

Morningside Loan Options

McElroy-Morningside Private Student Loan

• Must be a U.S. Citizen.
• Must be enrolled full-time and eligible for a Morningside scholarship.
• Interest rate is fixed at 5%.
• A cosigner is required.
• Annual loan limit: Usually $3,000 (varies based on funding availability).
• Cumulative Loan Limit: $12,000
• Interest and repayment begin 6 months after student is enrolled less than half time.
• Repayment term: Up to 10 years.

Mabel E. Sherman Loan

The Mabel E. Sherman Loan program is provided through Morningside University from funds distributed from the Mabel E. Sherman Education Trust Fund. Funding is limited and preference is given to residents of Ida or Cherokee County Iowa residents. Only full-time students are eligible during the regular academic year. Students’ eligibility is determined when their financial aid awards are made. Loans are limited to a maximum of $3,000 annually. Loans have a fixed interest rate of 5%. Interest and repayment begin 10 years after the 1st disbursement on a monthly basis for up to 10 years.

Private Loan Options

• Private Loan Options

Contact Student Financial Planning for more information at finaid@morningside.edu

or 712-274-5159.

The government funds an opportunity for you to earn money and gain experience working on campus. You must be eligible for need-based financial aid to qualify for federal work study. A typical Morningside work study award is $2,000 per year. The dollars earned through work study employment will not impact your FAFSA the following year. If you don’t qualify for work study, it is possible to get an on-campus job paid through campus payroll. Contact Student Financial Planning for more information at finaid@morningside.edu or 712-274-5159.

2023-2024 Forms 

2023-2024 Special Circumstances Professional Judgement

2023-2024 Special Circumstances Professional Judgement with Independent Appeal

2023-2024 V1 Dependent Student Verification Form

2022-2023 V1 Independent Student Verification Form

2023-2024 V4 Independent Verification Form

2023-2024 V4 Dependent Verification Form

2023-2024 V5D Dependent Verification Form

2023-2024 V5 Independent Verification Form