Frequently Asked Questions
Find answers about financial aid at the Monterey Institute.
Is financial need a requirement to receive aid?
You can receive certain types of aid without demonstrating financial need. For example, all eligible students may borrow Unsubsidized Stafford, Graduate PLUS, and private education loans to cover the cost of attendance. Graduate PLUS and private loans are granted based upon your credit history.
Are there grants available?
There are also several need-based grants for our undergraduate students from the international policy studies program, including the Cal Grant Program, Federal Pell Grant, and Federal Supplemental Educational Opportunity Grant.
Should I apply for outside scholarships?
We highly encourage all students to apply for outside scholarships. There are numerous websites, organizations and companies that offer scholarships. Visit our blog for more scholarship resources.
Where can I find additional scholarships?
Our generous donors fund these scholarships, which are typically awarded on the basis of academic merit and donor-specified criteria. Please note that you cannot apply directly for these endowed scholarships. A committee meets to award the scholarships to students that meet donor specified criteria. Here is a listing of our Endowed Scholarships .
Outside scholarships provide another source of funding for graduate studies. Many of our graduate students receive outside scholarship opportunities, such as the Fulbright Program and the Boren Fellowship. The earlier you begin researching these possibilities, the greater the chance you will receive an outside scholarship or grant.
Outside scholarships are part of your financial aid package. Please contact us to report the funds you will receive.
As an international student, am I eligible for US federal financial aid?
Unless you are an eligible non-citizen, you do not qualify for US federal financial aid. However, if admitted, you may qualify for our merit scholarships, private educational loans, and federal aid from your home government.
As an international student, can I apply for a private loan to cover my tution and living expenses?
You can apply for private education loans with a US citizen or permanent resident co-signer.
When can I apply for financial aid? Should I apply before I receive a letter of acceptance?
You may apply for financial aid any time after January 1st, even before we notify you of our admissions decision. However, we only consider admitted students for financial aid.
Can I apply for financial aid during the academic term or year?
You may complete the financial aid application process throughout the academic year, but not after the semester. However, for priority consideration, please complete the FAFSA application by March 1 each year. If you miss the priority deadline, you will still receive an award letter, but you may not receive the best forms of financial aid available.
Will I need to reapply for financial aid each year?
You must apply for financial aid each year. Please complete both the FAFSA and Monterey Institute Financial Aid applications by March 15th - just like last year!
I only want to apply for a Monterey Insitute Merit Scholarship. Should I complete the FAFSA application?
You do not need to complete the FAFSA application to apply for our merit scholarships. However, need-based scholarships from outside sources may require you to submit the FAFSA.
If I haven't completed my taxes, can I complete the FAFSA application?
Yes, you may estimate income and tax information on the FAFSA application, and we will issue you an estimated financial aid award letter. You must then update the FAFSA with accurate tax information before we finalize your award letter. Please consult these directions for more details about the process.
What is the Expected Family Contribution (EFC)?
The Expected Family Contribution refers to the amount you're expected to contribute to tuition and/or related expenses, as determined by the FAFSA application process. The remaining balance becomes your financial need. We determine your eligibility for US federal financial aid based on this formula: Cost of Attendence - Expected Family Contribution = Need. Read more about eligibility requirements.
I submitted a FAFSA application at least four weeks ago, but I have not received a Student Aid Report (SAR)? Who should I contact?
Please check your online account or contact the US Department of Education's Public Inquiry Contractor: 1.800.4FED.AID (1.800.433.3243).
After I've completed all that paperwork, what's next?
When you've completed the first two steps of the financial aid application process, we will review the applcation materials of all admitted students. Generally, we will review your application materials for two weeks before issuing an award letter. However, during peak periods, this process could take longer.
How will the Office of Student Financial Planning contact me? Where will my award letter be sent?
We will contact you via the e-mail address reported on the FAFSA application. Please use an e-mail address that you check regularly. We will use this email address to contact you for additional information and send you additional application materials and the award letter.
Is financial aid available for a computer purchase?
Through the Computer Purchase Program, you may receive a one time education loan, a maximum amount of $2,000, to purchase a computer, printer, and software.
How do I pay my bill online?
You can view your statement and make payments electronically with a credit card (MasterCard, Visa, American Express or Discover) or E Check (checking account) by logging into Banner Web at http://go.miis.edu/bannerweb and following the steps below:
- Click on Student Financial Services tab
- Click on Student Account Information and Financial Aid Award
- Click on Student Accounts-QuikPay
Note to all Incoming MIIS students: Your statement will not reflect any tuition charges until after your register, although you may see your pending financial aid.
How do I authorize someone to pay my bill on my behalf?
Billing notifications will be sent electronically each semester, with the Fall semester due August 29 and the Spring semester due January 30.
If you are a student and wish to view and/or pay your bill online, please log into Banner Web and navigate to the Student Financial Services tab. If you would like someone else to receive or pay your bill, you must designate that person up as an "Authorized Payer".
Once in Banner Web complete the following steps.
- Click on Student Account-QuikPay
- Click on Add New
- Enter the Authorized Payer's name and e-mail
- Re-enter the Payer's e-mail
- Create a user name for your Authorized Payer
- Create a password for your Authorized Payer
- Re-enter the Payer's password
- Click on Add
Once you have completed this process, your designated Authorized Payer will receive an e-mail notification with a link to the QuikPay website, which will allow them to access your account and to make payments on your behalf.
If I am an authorized payer, how do I make a payment?
You will need to access the account on QuikPay and enter your login name and password (please remember that before you can login, your student must have designated you as the Authorized Payer). Here you will be able to view the current statement for your student.
You may make a payment online with-
- Electronic check
- Credit Card (Mastercard, Visa, American Express, and Discover)
- Print a paper copy of the bill and mail your payment to the address provided on the statement
For families who need to make a payment by check, please make payable to-
Monterey Institute of International Studies
460 Pierce Street
Monterey, CA 93940
Do you offer Direct Deposit?
Yes. To sign up, please view and/ or download these step by step instructions.