Understanding Mount Union Tuition Costs: A Comprehensive Guide

Planning for college expenses is a critical part of the application process. Understanding the costs associated with attending the University of Mount Union is the first step in managing college finances. This article provides a detailed overview of tuition, fees, financial aid options, and payment plans available to students and their families.

Cost of Attendance: The Sticker Price

The "Cost of Attendance" represents the total amount of money an average student must pay, without any financial aid, to attend the University of Mount Union. It is essentially the school's sticker price. For the 2024-2025 academic year, tuition is $32,120. When comparing costs of different institutions, also consider the total cost. The total cost is the sticker price, plus the cost of food and housing, books and supplies, and transportation and personal expenses. At University of Mount Union, the total cost is $49,596.

Breaking Down the Costs

Tuition: \$32,120 (2024-2025 academic year)
Room and Board: Approximately \$12,630
Comprehensive Fee: Around \$2,200 (includes technology, health services, and activity fees)
Books and Supplies: \$264 per year
Personal Expenses: \$1,496 per year
Transportation: \$714 per year

Therefore, the total estimated cost of attendance for one year at the University of Mount Union, including tuition, fees, room, and board, is roughly \$46,950. Keep in mind that these figures might slightly change from year to year.

Financial Aid: Making Education Accessible

The University of Mount Union is dedicated to making its high-quality education accessible to students from all financial backgrounds. The financial aid team is committed to helping students understand every step of the process. Financial aid can include grants, loans, scholarships, and work-study jobs. Financial aid packages vary depending on your financial need. Most colleges determine financial need based on your FAFSA.

Grants and Scholarships: Funding You Don't Have to Repay

Scholarships and grants from Mount Union and state, federal, and private sources can significantly contribute to your education, and the best part is that you don't have to repay them. The average need-based scholarship or grant awarded to first-year students at University of Mount Union was $25,616. Scholarships are a type of funding that you don’t need to pay back. Need-based scholarships take a student’s financial status into account. Merit-based scholarships are awarded to students for academic or athletic achievement. You might also qualify for a scholarship based on your community service involvement, unique hobbies or traits, your personal background, or a parent’s employer or military affiliation. Some students receive enough in scholarship money to cover their tuition and living expenses.

Loans: Investing in Your Future

Loans are a form of financial aid that you will repay after you graduate. The university can help you find and apply for various federal, state, and private loan opportunities. At University of Mount Union, 80% of all students take out federal loans. At University of Mount Union, the average annual federal loan amount is $6716. At University of Mount Union, 13% of students take out private loans. The average private loan amount at University of Mount Union is $11301.

Work-Study: Earning While Learning

Working while in school can help lessen the burden of your student loans. Schools offer work-study programs to those who qualify and campus jobs to students looking to earn money in their free time. Some institutions match students with work-study positions, while others require them apply to the positions, like they would for any other job. Begin your job search by checking whether your college has in-person or online job boards.

Understanding the Net Price

The Net Price is the total cost minus the total aid given. In other words, this is the price you have to pay to the school out of pocket. The net price you pay for a particular college is specific to you because it’s based on your personal circumstances and the college’s financial aid policies. Use the college’s Net Price calculator for the most accurate estimate of your net price. The average net price is $22,835 per year.

Net Price by Household Income

Understanding the net price based on household income can provide a clearer picture of affordability.

Expected Family Contribution (EFC)

The US government has developed a standardized method to calculate how much a typical family can afford to pay without help, known as the Expected Family Contribution (EFC). Colleges use this number as a guideline to decide how much aid to give you, but it's just a guideline.

Read also: Affording ECU

Payment Options and Agreements

The University of Mount Union offers various payment options to help students manage their tuition costs.

Payment Plans

Semester Payment Plan: Payments due on July 31 for the fall semester and December 31 for the spring semester.
Monthly Payment Plan: Offered by Touchnet, with monthly payments due on the 15th of each month. There is a non-refundable application fee of $45 per semester for this plan.

Tuition Payment Agreement

The *Tuition Payment Agreement is the financial agreement and legal obligation between the student and the University. It is very important that we receive this form. The agreement needs to be signed (online) by the student and returned to the Office of Business Affairs by June 30.

Payment Methods

The University accepts VISA, MasterCard, and American Express for payments via the student portal and online or at the kiosk located at the Office of Business Affairs Cashier's Window. No credit card payments will be accepted at the Cashier's Window. For security purposes, payments are not accepted over the phone.

Credit Card Convenience Fee

Students paying their tuition and associated fees, including room and board, with a credit card will be assessed a credit card convenience fee. This convenience fee is paid directly from the card user to our third-party processor, Pay Path, and is used by credit card companies to cover expenses for reward programs and consumer incentives. The fee will appear as a separate transaction item on your credit card statement. The University of Mount Union does not receive any part of this fee.

Late Fees and Account Holds

If you have not signed up for the monthly payment plan and do not pay your bill on time, a 1% late fee will be assessed to the account monthly after school begins. Student accounts with balances over $1000 will be placed on hold.

Read also: Withdrawals for College: A Guide

Accessing Account Information and Granting Proxy Access

Students can give their parents/guardians access to their account via Colleague Self-Service. If someone is helping you pay your bill, you can provide them with access to your billing account through your Colleague Self-Service account. There are options available to share, including but not limited to, tuition balance. We ask that you review your account balances to verify that all the charges are correct.

Under Federal Law, you must authorize by name, individuals permitted to discuss with the Business Office the status of your student account. The Proxy Access will Allow Student Accounts to discuss your account with those persons listed. The student also needs to sign the *Federal Title IV Authorization. This form allows us to use federal aid monies to pay for miscellaneous fees other than tuition and board and also allows us to hold any credit on the student account if the student requests. All forms are completed online in the Self-Service Portal by clicking on the username icon. A drop-down menu will appear.

Understanding Holds and Refunds

Account Holds

A hold is a block on your account that prohibits you from performing an action like registering for classes or requesting a transcript. You can check to see if your account is on hold in Self-Service. Navigate to “Student Finance”.

Business Office Balance Hold: Your tuition account balance is over $1000. Review your balance in Self-Service under “Student Finance”. Make a payment by clicking “Pay Your Tuition Bill Here”. You may also schedule an appointment with a Financial Aid Counselor.
Business Office Document Hold: You have not signed your Tuition Payment Agreement. Log into Self-Service and click on your username in the top right corner. Under “Required Agreements” you will see “Tuition Payment Agreement”.
Health Center Hold: You have not turned in important health forms.

Refunds

If the student account indicates a credit balance, a refund will be issued. Refunds are disbursed by direct deposit or paper check. Every student will need to enroll in one of these options via Colleague Self-Service - Banking Information at the beginning of the school year. If the enrollment information is not received, refunds will be processed in the form of a paper check and held at the Business Office Cashier’s window for pick up. Refunds are reimbursed throughout the semester starting the third week of the semester and every two weeks thereafter as needed.

Additional Resources and Information

Business Office

Any student account questions can be answered by the staff in the Office of Business Affairs. Any billing that needs to be sent to receive outside scholarships are handled by the cashier. The Cashier's Window is located on the second floor of Beeghly Hall. Personal checks may be cashed up to a limit of $50.

1098-T Form

The information on the 1098-T is provided to assist with filing for the education tax benefits/tax credit deductions, such as the Lifetime Learning Tax Credit and Hope Scholarship Tax Credit. Your form will be available electronically in self-service no later than January 31.

Raider Ready Program

Mount Union has partnered with Barnes & Noble to ensure all students are prepared to begin learning on the first day of classes. Raider Ready provides all required textbooks, lab manuals, access codes and digital textbook versions to undergraduate students.

Is Mount Union a Good Value?

As a regional school, University of Mount Union may not have the national reputation of schools like Stanford or Boston University, but it's still considered to be one of the best schools in its class. This means your classmates will be well above average and you'll belong to an exciting community. Overall, we still believe attending University of Mount Union is a good value, and it's likely to be a good investment in the long run.

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