Financial Aid and Scholarships

You must complete the FAFSA each academic year. The 2024-25 application is now available.

• The first step is to create an FSA ID and you will need income and tax information from the prior year to apply.
• Some types of aid are offered on a first come, first serve basis, so we encourage you to apply as early as possible.
• Before beginning the FAFSA, please review the basic eligibility criteria for receiving federal financial aid.
• You will need the Madison College Federal School Code 004007 in order to complete the FAFSA.

In order to be eligible for financial aid, you must be admitted to a financial aid eligible program or formally accepted onto the program waitlist.

It’s important that you are registered for classes that meet the enrollment status requirements. Most types of aid require at least half-time enrollment status which means at least 6-8 credits. Check out our Financial Aid Enrollment Status page for additional helpful information.

There are many deadlines and steps involved with staying on top of your financial aid. That’s why it’s important that you’re diligent about activating and checking your student email. That’s where you’ll receive important notifications and action items.

In addition, be sure to complete any items on your To Do List within MyMadisonCollege. All items on that list need to be completed prior to receiving any financial aid information.

Your offer notification will be sent to your student email. Once you receive it, log into myMadisonCollege, evaluate your offer and accept/decline your funds.

Offer amounts are subject to change based on your enrollment status as of 4:30 p.m. on the Pell Recalculation Date each semester.

If you have received additional funds, from scholarships or state grants for example, your offer may need to be adjusted, reduced or cancelled. It’s important to let the Financial Aid Office know about any other aid that is not listed on your offer.

Federal Direct Loans require you to take some extra steps once you receive notification of the award. You’ll need to complete Entrance Counseling and a Master Promissory Note (MPN) on the Student Loans website. Your loans won’t be released until you’ve taken care of these requirements.

Once you’ve met all the requirements of your award, the funding will begin being distributed after the Pell Recalculation Date and are typically disbursed once a week after that.

Remember that most awards require that you’re enrolled in at least six credits and that you meet certain academic standards known as Satisfactory Academic Progress (SAP). So be sure you’re keeping up on your class work and take advantage of all of the academic support that Madison College has to offer.