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Maranatha annually distributes more than $1.3 Million in scholarships. Be sure to check if you qualify for any of the privately or institutionally funded aid.


A high percentage of students have jobs on campus. Others find work in Watertown or a nearby community. Here are a few of the options that will be available to you:


Grants do not require repayment, and are offered to students who demonstrate financial need according to the federal need analysis formula in the FAFSA.


Maranatha participates in the Federal Direct Loan Program. These loans are governed by federal laws which determine maximum loan amounts and rates.

Interested in money for education?

Fill out your FAFSA today!

How Do I Receive Financial Aid?


Those who want to apply for state or federal aid must meet the following criteria:

  • U.S. Citizen or eligible non-citizen
  • Have a high school diploma or GED
  • Enrolled in an eligible institution
  • Registered with the Selective Service (men only)
  • Maintain satisfactory academic progress


  • Students applying for financial aid must complete a Free Application for Federal Student Aid (FAFSA).
  • Apply online for a Federal Student Aid (FSA) ID. You will use the FSA ID to sign the FAFSA and access personal information on other Federal Student Aid websites.
  • For the 2022-2023 academic year, the FAFSA may be submitted between October 1, 2022 and June 30, 2024.
  • For the 2023-2024 academic year, the FAFSA may be submitted between October 1, 2022 and June 30, 2025.
  • Submit additional information as required by the Financial Aid Office.
  • Review MBU scholarships and submit applications.
  • MBU will contact you by email when your financial aid information is available.
  • Submit Federal Direct Loan Acceptance Form, if applicable.

Satisfactory Academic Progress

Satisfactory Academic Progress is determined by the following criteria which are evaluated at the conclusion of each semester:

  1. Satisfactory GPA First semester students: 1.75 GPA (C-) All other students: 2.00 GPA (C)
  2. Successful ratio of completed courses/attempted courses: 67% completion
  3. Hours attempted may not exceed 150% of the published academic program requirements.

For the complete policy: Satisfactory Academic Progress (SAP) for Financial Aid

Download Forms

If you have questions about which forms you need and when you will need them, contact the Financial Aid office.

God provides for his people (with the help of others)!

Maranatha is serious about making Christian education affordable to our students. When you begin your college career, you may often wonder how (or even if) God will provide. To this point in your life, college is by far your biggest investment. We know from experience that God does indeed provide! God is our source, actively working for His people. He uses a variety of methods. Many students receive financial aid through scholarships. A high percentage of students have jobs on campus. Others find work in Watertown or a nearby community. Students can also receive financial aid through grants and loans.


Submit the FAFSA as soon as possible after October 1st of the year before you plan to attend. Note that you will need your tax information and your parents’ tax information if you are a dependent student. 

If you have questions about which forms you need and when you will need them, please let us know.


More Information

Financial Aid can be a detailed topic to understand so please feel free to contact the office at the bottom of the page to answer any remaining questions.

Frequently Asked Questions

What percentage of students take out loans?

During the 2018-2019 academic year, 23% of enrolled students received student loans. The current loan default rate for MBU students is 3.7% compared to a national average of 10.8%.”

How do I apply for financial aid?

Complete the Free Application for Federal Student Aid (FAFSA) at Be sure to include Maranatha’s school code, 016394.

When do I apply for financial aid?

Apply after October 1 the year prior to when you plan to enter college.

If you plan to attend Fall 2022 (2022-2023 academic year) complete the FAFSA after October 1, 2021.

If you plan to attend Fall 2023 (2023-2024 academic year) complete the FAFSA after October 1, 2022.

If you plan to attend Fall 2024 (2024-2025 academic year) complete the FAFSA after October 1, 2023.

What information do I need to complete the FAFSA?

You must create a Federal Student ID (FSA ID) at The Username and Password will be your electronic signature for the FAFSA.

If you are a dependent students, your parent must also create an FSA ID.

You will need tax return information:

For the 2022-2023 FAFSA use 2020 tax return information.

For the 2023-2024 FAFSA use 2021 tax return information.

For the 2024-2025 FAFSA use 2022 tax return information.

My parents make too much money. Do I need to submit the FAFSA?

There are many factors in the calculations for Federal Student Aid eligibility, not just income. The Financial Aid Office recommends that you complete the FAFSA for your first year of college to see what you are eligible to receive.

Federal Direct Loans are only available to students who complete the FAFSA.

My parents cannot help me pay for school, so can I file as an independent?

Your answers to the questions on the FAFSA will automatically determine your dependency status.

Being financially independent from your parents (paying your own bills) doesn’t automatically qualify you as an independent student.

What is verification and why was I selected?

Verification is the process by which the Financial Aid Office verifies the accuracy of a student’s FAFSA information. The FAFSA may be chosen for verification by the Federal Processor or by Maranatha.

Don’t assume that you did something incorrectly if your FAFSA is chosen for verification. Some reports are randomly selected. Others are selected because the FAFSA information appears like it may be inaccurate.

If you are chosen for verification, the Financial Aid Office will send you the forms to complete, along with instructions for any additional documents that must be submitted.

Do I qualify for financial aid if I am only attending part-time?

Pell Grants are awarded based on the FAFSA information, which determines a student’s financial need. The amount of the Pell Grant will be pro-rated based on your enrollment status (full time, half time, etc.)

Direct Loans are only available to students who are enrolled at least half time during the semester.

Can I get financial aid for online courses?

Yes, online students are eligible for federal student aid. Grants will be pro-rated based on the number of credits you take. You will be eligible for student loans if you are enrolled at least half time (six credits or more) during the semester.

How will I receive my financial aid money?

For most financial aid programs, the money is paid directly to Maranatha. Maranatha credits your account for the amount of aid received.

Loans, grants, and scholarships that are for the entire academic year often will be paid in two disbursements, half for each semester.

After all financial has been disbursed, you may request a check for any credit balance on your account.

I didn't get as much financial aid as I thought I would. Is there anything else available?

Be sure you have applied for financial aid from as many sources as possible

  • Maranatha Scholarships
  • Scholarships from other sources
  • Scholarships from businesses and organizations in your community
  • The Financial Aid Office can review special circumstances, including loss of income, private school/homeschool expenses, unusually high medical expenses, etc. Depending on the outcome of the review, you may become eligible for additional Pell Grant funds. Contact the office for more information.

How many scholarships can I get?

Maranatha four-year scholarships are limited to one per student unless otherwise noted.

Maranatha’s privately-funded scholarships for current students can be stacked with other MBU scholarships.

You can receive scholarships from outside sources up to the cost of attendance.

How much can I borrow in student loans?

Loan limits are set by the U.S. Department of Education.  You may not borrow more than the cost of attendance minus your other financial aid.

Direct Loans are limited by your academic level and dependency status. For a typical student:

  • Freshman $5,500
  • Sophomore $6,500
  • Junior/Senior $7,500

You can take out private loans and Parent PLUS Loans up to the cost of attendance.

What is the interest rate on Direct Loans?

The interest rate varies from year to year. For 2022-2023, Direct Subsidized and Unsubsidized Loans have a fixed interest rate of 4.99% for undergraduate students

You will not pay interest on Subsidized Loans while you’re enrolled in school, but the loan will accrue interest after your grace period. Unsubsidized Loans accrue (accumulate) interest from the time you receive the loan.

Note: A loan fee of 1.057% will be deducted before the loan is disbursed, so the money applied to your account will be less than the amount you borrow.

When do I have to repay my students loans?

Direct Loans are deferred (no payments required) while you’re enrolled at least half time. When you graduate, withdraw, or drop to less than half time, you’ll have a six month grace period before your loan payments begin.

Financial Aid: Contact

Basic Information