Need-Based Grant

About Our Need-Based Grant

The Monterey Institute offers need-based grants of $1,000 to 5,000 to applicants based on financial need. These grants are awarded in addition to merit scholarships and do not need to be repaid. There is a $28 application fee for this optional service. Applicants who submit all required materials and demonstrate financial need will be considered for the limited funds available. The priority deadline is February 15 and funds are awarded on a first come, first served basis.

Eligibility

All prospective, admitted, and returning degree-seeking U.S.and international students are invited to apply. Applicants for the need-based grant will be considered based on their financial need once they submit the form and all necessary documents. Eligible applicants must meet these requirements:

1. Applicants must meet the requirements for admission to Monterey Institute degree programs, and be admitted to one of these programs. Please note that while prospective students may apply, we will only review applications for the need-based grant after the student has been admitted. Since we accept applications for admission to our degree programs on a rolling basis, you can apply to our programs at any time, and you can apply for financial aid at any time. These deadlines mentioned are optimal in order to be awarded available funds and to receive timely disbursement of funds.

2. U.S. and international students are eligible to apply for this optional aid.
3. Only applicants to degree programs and degree seeking students are eligible for this grant (non-degree students are not eligible).
4. Applicants are required to apply for the need-based grant every year, and financial need will be re-assessed with each application.

Application Process

Monterey Institute need-based institutional grants are awarded on a rolling basis, with specific priority deadlines for Fall 2013. The need-based application process opens on January 2, 2013. There is no specific deadline, but applications received by February 15 priority deadline will be processed in a timely manner and will be more likely to receive the limited funding.

1. Submit your completed application for admission to a degree program plus all support documents including transcripts, test scores, letters of recommendation, resume and statement of purpose by the priority scholarship deadline. For Fall semester there are three rounds of scholarship selection: December 1, February 1, and March 1. For Spring semester the priority deadline is October 1. Late applications will be considered on a funds-available basis. Apply online.

2. To be considered for the need-based grant, all students must register with Need Access. Submit your Need Access form and support documents via the website www.needaccess.com by the priority deadline of February 15. You will need your most recent tax information to complete the Needs Access application. Be sure to allow enough time before the deadline to prepare all financial documents needed for the application.

3. Submit $28 application fee online with Need Access form. We are unable to offer fee waivers.
4. If you were born after January 1, 1987, you will also need to answer questions regarding your parents' 2012 income and asset information unless you are married or have a dependent. If you are married, you will need to submit income and asset information for your spouse. Read more about this requirement in our Frequently Asked Questions.
   

5. U.S. citizens, permanent residents, and qualifying resident aliens should also complete the 2013-2014 FAFSA at www.fafsa.ed.gov by May 15 in order to receive all disbursements on time for fall enrollment.