Middlebury Institute of International Studies at Monterey

Find answers about financial aid at the Institute.

What are the annual Stafford Loan limits?

Stafford loans are U.S. federal loans offered at a low interest rate to graduate and undergraduate students.

Stafford Loans Overview

  • Unsubsidized loans for graduate students
  • Subsidized or unsubsidized loans undergraduate students
  • Interest Rate: 5.31% (Fixed) for loans with a first disbursement on or after July 1, 2016
  • Grace Period: 6 months
  • 1.068% origination fee
  • Maximum Award: $20,500 per academic year for unsubsidized loans

Graduate vs. Undergraduate Students

If you're enrolled in a graduate program, you'll only be eligible for unsubsidized loans. Your interest accumulates (unless otherwise paid) during enrollment and will be capitalized upon entering repayment. Stafford loans are available to students regardless of income.

Subsidized loans are available for our undergraduate or summer language students. They're need-based, and the federal government pays the interest while you're enrolled at least half-time.

Annual Stafford Loan Limits

Base Amount  
Additional Unsubsidized

Dependency Status

All Students

Dependent Students (Whose parents can borrow PLUS loans)

Independent Students and Dependent Students (Whose parents cannot borrow PLUS)
1st year Undergraduate $3,500 $2,000 $6,000
2nd year Undergraduate $4,500 $2,000 $6,000
3rd year and beyond Undergraduate $5,500 $2,000 $7,000
Graduate/Professional n/a n/a $20,500

Aggregate Stafford Loan Limits

Dependency Status

Maximum Subsidized & Unsubsidized
Dependent Undergraduate $23,000 $31,000
Independent Undergraduate $23,000 $57,500

Graduate/Professional (Includes amount borrowed as an undergraduate student)

$65,500 $138,500
Will I qualify for a Graduate Plus Loan?

Graduate PLUS loans are U.S. federal loans based on your credit history, not financial need.

Graduate PLUS Loans Overview

  • Unsubsidized loans for graduate students based on your credit worthiness
  • Interest Rate: 6.31% (Fixed) for loans with a first disbursement on or after July 1, 2016
  • Interest begins to accrue at the time of disbursement
  • Grace Period: None (You may request a six month deferral from the lender.)
  • 4.272% origination fee
  • Maximum Award: No limit

The interest from Graduate PLUS accrues during enrollment and will be capitalized upon entering repayment. As long as you remain enrolled at least half-time in your program, the principal balance will be deferred.

Your Credit History

Graduate PLUS loans aren't based on financial need. They're issued based on your credit history, regardless of your income.

If you have adverse credit history, as determined by the U.S. Department of Education, you may:

  • Document extenuating circumstances
  • Obtain an endorser

Borrowers who are determined to have adverse credit but qualify for a Grad PLUS loan based on extenuating circumstances or obtaining an endorser must complete Entrance Counseling at studentloans.gov

Am I eligible for U.S. federal financial aid?

You're eligible for U.S. federal financial aid if you are:

  • A US citizen, permanent resident, or eligible non-citizen with a valid Social Security Number
  • Admitted to a degree-seeking program
  • In good standing on previous student loans (not in default)
  • Enrolled at least half-time
  • Registered with the U.S. Selective Service, if required
  • Maintaining satisfactory academic progress
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?

We offer a limited number of need-based grants of up to $4,000. These grants are awarded in addition to merit and need-based scholarships and do not need to be repaid.

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.

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 tuition 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 October 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 15 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 the Institute Financial Aid application by March 15th to be considered for all forms of aid.

I only want to apply for a MIIS 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?

Beginning with the 2017-18 FAFSA, students will be required to report income information from an earlier tax year. For example, on the 2017-2018 FAFSA, students will report their 2015 income information, rather than their 2016 income information. All students should have been able to complete their prior-prior year taxes by the time you complete the FAFSA.  Please consult these directions for more details about the process.

What is an IRS Verification of Non-filing Letter?

An IRS Verification of Non-filing Letter - provides proof that the IRS has no record of a filed Form 1040, 1040A or 1040EZ for the year you requested. If you have been selected for verifaction and did not file taxes, you may be asked to submit an IRS Verification of Non-filing Letter before you are packaged with financial aid.

Non Tax filers can request an IRS Verification of Non-filing of their 2015 tax return status, free of charge, from the IRS in one of two ways:

Note: If you typically would have filed a Puerto Rican or Foreign Income Tax Return you must submit appropriate non-filing documentation from a relevant tax authority.

If you have trouble entering your street address into an online form, please review "How do I fix address matching problems?" FAQ below.

Find information on acceptable forms from the IRS as documentation of non-filing status.

Online Request

Available at www.irs.gov

Note: This is typically not available if you have never filed taxes before in prior years. If this is the case, please use the paper request process detailed below.

  • Under Tools, click "Get a tax transcript"
  • Click “Get Transcript ONLINE” (If at any point, you cannot validate your identity – for example, you cannot provide financial verification information or you lack access to a mobile phone – you may use Get Transcript by MAIL, see below)
  • Enter the non-filer’s Social Security Number, email address, filing status, account numbers for loan or credit card associated with your name, and mobile phone associated with your name.
  • Click “Continue”
  • Select "Verification of Non-filing Letter " and in the Tax Year field, select "2015".
  • If successfully validated, you will be able to view your IRS Verification of Non-filing Letter.
  • Sign and submit the IRS Verification of Non-filing Letter, if requested, to the Middlebury Institute’s financial aid office at finaid@miis.edu or by fax at 831-647-6685; make sure to include the student’s name and Banner ID on the letter.

Paper Request Form – IRS Form 4506-T

Download the IRS Form 4506-T

  • Complete lines 1 – 4, following the instructions on page 2 of the form.
  • Line 3: enter the non-filer's street address and zip or postal code. Use the address currently on file with the IRS.
  • Line 5 provides non-filers with the option to have their IRS Verification of Non-filing Letter mailed directly to a third party by the IRS. Do not have your IRS Verification of Non-filing Letter sent directly to the Middlebury Institute.
  • Line 6: Enter tax form number 1040.
  • Line 7: Select the checkbox on the right hand side for Verification of Nonfiling.
  • Line 9: Year or period requested field, enter "12/31/2015".
  • The non-filer must sign and date the form and enter their telephone number. Only one signature is required when requesting a joint IRS Verification of Non-filing Letter.
  • Mail or fax the completed IRS Form 4506-T to the address (or FAX number) provided on page 2 of Form 4506-T.
  • If the 4506-T information is successfully validated, tax filers can expect to receive a paper IRS Verification of Non-filing Letter at the address provided on their request within 5 to 10 days.
  • Sign and submit the IRS Verification of Non-filing Letter, if requested, to the Middlebury Institute’s financial aid office at finaid@miis.edu or by fax at 831-647-6685; make sure to include the student’s name and Banner ID on the letter.
How do I fix address matching problems when ordering an IRS Verification of Non-Filing Letter online?

When entering the information into the IRS address matching system note the following:

  • The address entered must match the address already on file with the IRS exactly.
  • The address on file is typically the address on your most recent tax return.
  • Spelling out the word “street” rather than using the abbreviation “st.” can be enough to cause an error.
  • Addresses on the IRS system are auto-corrected through a post office program and may not match what you put on your tax return.

We suggest the following if you run into problems:

  • Have your taxes in front of you and enter the address carefully as it is on your return.
  • If you entered your address as it appears on your return and it doesn’t work, try using the standardized version of your address.
    • To get a standardized version of your address: 1) go to www.usps.com 2) Click Look Up a Zip Code 3) Enter Street Address, City, State 4) Click Find
  • If you still have problems, the IRS.gov Website Help Desk can be reached toll-free at 1-800-876-1715, Monday - Friday 8:00 a.m. - 8:00 p.m. (Eastern Time).
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 Attendance - 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 to ensure your FAFSA was submitted successfully, 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 application 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 Services 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, as well as 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 or setup an authorized payer?

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 Nelnet Business Solutions once you receive the initial login email.

For more detailed information with regards to Nelnet Business Solutions, including how to setup an authorized 3rd party payer, please click here.

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 make a payment on behalf of a student?

You may make payments directly with our cashier with the student's ID number and the amount you would like to pay by one of the following options:

  • 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

To make a payment online using our Nelnet Business Solutions system, the student will have to authorize you and you will have to create a login before having access.

For families who need to make a payment by check, please make payable to-

Middlebury Institute of International Studies

Cashier's Office
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.