Eligibility | Apply | Types | Webinars | Policies
- Merit based - Combination of GPA, test scores, and letter of recommendation
- Awards range from $4000 - $14,000
- Admitted students are automatically considered for this scholarship
- No seperate application needed
Fall semester deadlines: December 1, February 1, and March 15. Spring semester deadline: October 1
- Need-based Grant
- For Undergraduate degree programs
- Maximum amount for 2008-09 academic year $4731
- Students can be enrolled less than half time
- Need-based Grant
- For Undergraduate students with the most exceptional financial need
- Priority is given to students who are eligible for a Federal Pell Grant
- Awards between $100 and $4000 a year
Cal Grant Program
- Need-based Grant
- First time applicants are required to complete the GPA Verification Form and the FAFSA are required
- Cal Grants deadline is March 2, to complete the FAFSA and GPA Verification
- For renewal, FAFSA is required to be completed each academic year by the March 2 deadline
- The California Student Aid Commission (CSAC) awards Cal Grants
- Cal Grants are considered free money and do not have to be paid back
To qualify you must be a U.S. citizen or an eligible noncitizen, California resident, meet GPA requirements, have a social security number, attend a qualifying California college, have financial need, enrolled in an undergraduate degree or certificate program, have registered with U.S. Selective Service, and not owe on a state or federal grant or be in default on a student loan.
Cal Grant A: Assists with tuition and fees at public and independent colleges. At the Monterey Institute the Cal Grant A is provided for tuition and fees. Your coursework must be for at least two academic years. If awarded, an information booklet will be provided by the state, and will offer information and deadlines.
Other states offer grants to resident students attending California colleges and universities. They include Alaska, Delaware, District of Columbia, Maryland, Pennsylvania, Rhode Island, Vermont and the Territories of Guam and the Pacific Islands. For more information, please contact the state agency which delivers funds in your state.
- Need-based grant
- Up to $4000 per academic year
- Estimated Family Contribution (EFC) from FAFSA must be lower than 4000 to qualify
- This grant is awarded on a first-come-first-served basis
- Be sure to complete your financial aid file prior to the March 15 priority deadline
- Students receiving the MIIS Merit Scholarship are not eligible for this grant
* In most cases, you are required to accept the student loans offered to you in order to receive this grant since you must demonstrate having exceptional financial need.
- Veterans of military services may be eligible for Veterans’ Benefits
- Application for benefits should be made at least 30 days in advance of the start of the academic term
- Recipients must request for the Veteran's benefits to be certified for you with the Department of Veterans Affairs before benefits will begin
- Complete the VA Request Benefits form and submit it with the 22-1995 (request for change of program or place of training) or the 22-1990 (the application for veteran’s benefits)
- Submit copies of transcripts for all undergraduate and graduate work completed (Unofficial transcripts are acceptable)
- Submit a copy of your registration for the semester in which you are requesting benefits
- You may submit all requested documents by mail or fax to 831-647-6685
- The VA requires that benefits received for courses in which W grades were received must be returned to the VA
- Courses in which a verteran earns grades of A, B, or C will be paid one time by the VA
- A course in which a D grade is received can be repeated only if a C grade or better is required by the College
- The VA will pay one time to repeat a course in which an F grade is received
- Need-based award
- 6.8% fixed interest rate
- 6 month grace period
- Interest does not accrue while in school at least half-time
- The interest is subsidized by the federal government while you are in school and during the six month grace period
- The principal balance is deferred while you are enrolled at least half-time and during the six month grace period
- Maximum amount any student may receive per academic year is $8500
- Non-need based loan.
- 6.8% fixed interest rate
- 6 month grace period
- Interest accrues while in school
- You may choose to make interest payments while in school
- Principal balance is deferred while you are enrolled at least half-time and during the six month grace period
- Interest is capitalized when entering repayment
- Maximum amount is $20,500 less any Federal Stafford Subsidized Loan amount
- Graduate Plus Loans are new federal loans that may replace a student’s need to apply for a private educational loan
- Non-need based loan
- 8.5% fixed interest rate
- Interest accrues while in school
- Principal balance is deferred while enrolled at least half-time
- No grace period, you will enter repayment immediately upon graduation or dropping below half time
- Interest is capitalized when entering repayment
- There is no aggregate loan limit; eligibility for this loan is dependent upon your cost of attendance as certified by our office
Private Alternative Loans can help you pay student-related expenses that may not be covered by federal loan programs or other financial aid. These loans are one source of additional funds to close the gap between your financial aid resources and college costs.
Although you do not need to apply for federal, state or institutional financial aid before applying for an alternative loan, you should. Private alternative loans typically carry higher interest rates and fees than federal loans.
Private alternative loan programs are a good option for students who plan to attend a Monterey Institute of International Studies program (such as the Summer Intensive Language Programs) but do not plan to enroll in a degree-seeking program, as well as international students with a creditworthy US Cosigner. They may also be a favorable alternative for US degree-seeking students who have been awarded the maximum available in federal student aid, but need additional funds to help meet the cost of living expenses. US Citizens and Permanent Residents should find out first what institutional aid you qualify for before applying for a private alternative loan.
- Variable rate - Rate is dependent on credit score.
- 6 to 9 month grace period (dependent on lender).
- Fees vary by Lender.
- Eligibility amount based on Cost of Attendance.
You are encouraged to borrow only the amount necessary to cover that portion of your educational expenses that cannot be covered by other means. You cannot borrow more than the Cost of Attendance, as determined by The Office of Student Financial Planning. We will work with you to determine the student budget amount for your proposed term of study. The cost of education includes tuition and fees, housing expenses, books and supplies, transportation costs, personal expenses and health insurance premiums where applicable.
Read more information on how to apply for a private loan.
