Important Information Regarding Your 2013-14 Financial Aid Awards

 

 

The MSU Financial Aid Office is pleased to advise you of your award(s) for the upcoming Fall 2013 and/or Spring 2014 semesters. Please note the following:

Your Fall 2013-Spring 2014 awards are determined based on a FULL-TIME enrollment status!!!!!!!!!  If you will NOT enroll full-time for the Fall and/or Spring semesters, please submit the MSU Change Form to advise us of your plans so proper adjustments can be made as your award(s) will NOT apply to your student account until your awards are adjusted to reflect your true enrollment. ALSO, submit the MSU Change Form if other enrollment plans change (ie: you will not attend MSU afterall, you will graduate at the end of the Fall semester, etc…) OR you are now requesting loan funds.

And, if you have been awarded the TEXAS Grant (Initial or Renewal), please read this important information regarding your award.

NEW for Fall 2013-Spring 2014 YOU, the student, MUST accept your grant AND scholarship awards in addition to your loan awards; in prior years, the grant and scholarship awards were auto-accepted for you, however, YOU are now required to accept these awards as they will no longer be auto-accepted (with the exception of Pell Grant and Athletic Scholarships, if eligible).

IF you have been awarded a Subsidized and/or Unsubsidized Direct Loan for the Fall/Spring semesters, please be aware that your Fall/Spring loan amounts will reduce your loan eligibility for the Summer term(s); therefore, should you borrow your maximum amount for the Fall/Spring semesters, you will not have any remaining eligibility for the upcoming Summer terms. PLEASE PLAN ACCORDINGLY!

AND IMPORTANT INFORMATION REGARDING DIRECT SUBSIDIZED LOAN LIMITATION FOR FIRST-TIME BORROWER: If you are a FIRST-TIME LOAN BORROWER (ie: you have never received a student loan(s) with a disbursement prior to July 1, 2013 OR you have fully repaid your prior student loan balance(s) prior to July 1, 2013 and have applied for another student loan(s to be disbursed on/after July 1, 2013), please read this IMPORTANT INFORMATION regarding the maximum period of time in which you may receive the Direct SUBSIDIZED Loan during your college career

GRADUATE students are no longer eligible to receive the Direct SUBSIDIZED Loan. In accordance with federal guidelines, graduate students are eligible to receive a Direct Unsubsidized Loan only for the Fall/Spring semsters; therefore, your award(s) will reflect your maximum loan eligibility, excluding the Direct Subsidized Loan. 

 

Additionally, if you have not already done so, please submit the Additional Benefits/Expenses form to advise the MSU Financial Aid Office of any scholarships/benefits you may receive in 2013-14 AND/OR child care expenses you may incur. While failure to return this form will not delay the processing of your financial aid awards, adjustments will be made to your award(s), if necessary, if the Financial Aid Office is made aware of any scholarship(s) or additional benefits you will receive AFTER your award(s) are determined.

Considering repeating a course at MSU? Please read this important information.

  

 

NOTE:  Due to limited grant funding,  priority for grant funds is being given to those students who remain academically sound; therefore, some grant funds may require you to maintain a particular grade point average and/or completion rate and/or academic status. You must pay special attention to the AWARD MESSAGES on your award notification as you may be required to maintain a specific grade point average (gpa) and/or completion rate and/or academic status at the end of each semester/term in order to remain eligible to apply/receive these grant funds. Please know that grant funds are awarded each year based on the availability of funds at the time you apply. OR, FURTHER ACTION MAY BE REQUIRED FROM YOU! For example, if you choose to accept a student loan(s), YOU may be required to complete an Electronic Master Promissory Note (EMPN) AND complete Entrance Counseling via the Direct Loan process as explained in the AWARD MESSAGES.   

 
 

Remember, institutions are required to complete a refund calculation for financial aid recipients who fail to earn at least one passing grade in all of their classes for the semester/term AND fail to complete more than 60% of the semester/term. This can be the result of an “official” or “unofficial” withdrawal from MSU. The refund calculation determines how much FEDERAL financial aid a student received for the semester was actually “earned” and how much must be “repaid” by the student to the appropriate financial aid program. The amount is based on the student’s last documented date of attendance. Therefore, if a student receives federal financial aid for any given semester/term, AND fails to earn at least one passing grade in all of the classes for the semester/term, AND fails to complete more than 60% of the semester/term, this calculation will be performed to determine the amount that must be repaid to the federal program(s).

 

 

Please do not hesitate to contact us at financial-aid@mwsu.edu or call 940:397-4214 should you have any questions. 

THANK YOU for choosing MSU!