Financial Aid Options
The University offers a broad program of financial assistance to eligible students in the form of grants, loans, scholarships and work.
In many cases, financial aid is made up of a combination of the various types of assistance available (a financial aid package). Students who have been admitted and are enrolled for credit in a degree program are eligible for financial aid funds provided they also meet all other eligibility requirements for aid. Financial assistance is granted, depending on the availability of funds, to all eligible students regardless of sex, race, color, or ethnic origin. About 90 percent of the students attending MSU receive scholarships or other financial aid.
The type and amount of financial aid is generally based on demonstrated financial need, academic achievement, test scores, and other talents and interests. Financial need is determined through analysis of the Free Application for Federal Student Aid (FAFSA). The FAFSA is analyzed to determine the expected contribution of the student and/or parents toward educational expenses.
Students apply for financial aid by completing the FAFSA online at www.fafsa.ed.gov. Applying early increases the chance of receiving financial aid. Most financial aid is credited to students' accounts, one-half of the year's award for the fall semester and the other half for the spring semester.
Federal regulations restrict the total amount of funds for which students may be eligible. A student's financial aid package, including federal, state, private and/or institutional aid, cannot exceed MSU's established "cost of attendance" for any given year. Students who receive more than the amount for which they are eligible will be required to repay the amount of the over-award.
Over-awards can be avoided if the student will:
- Check with the Office of Enrollment Services to see if the maximum needs have been met before applying other aid programs.
- Make sure all information reported on the FAFSA is correct.
- Notify the Office of Enrollment Services of aid received from sources other than the Office of Enrollment Services.