Financial Aid
Financial aid in the form of work and loans may be available to eligible graduate students at Morehead State University. Under the federal or institutional work-study programs, graduate students (other than those on graduate assistantships) may be employed on campus.
Low-interest federal loans available to graduate students include Federal Perkins Loans and Federal Direct Stafford Loans. Interest rates on these loans range from 5-8.25 percent and, in general, repayment does not begin until six to nine months after the student leaves school or ceases to be enrolled at least half-time. Eligibility and award amounts are determined based on enrollment on the last day to add a full semester class per the University's academic calendar. Students must be enrolled in at least six credit hours to receive a Federal Direct Stafford Loan.
To apply for financial aid, students must submit a Free Application for Federal Student Aid (FAFSA) online at www.fafsa.edu.gov.
Financial Aid Satisfactory Progress Standards
The Higher Education Act mandated institutions of higher education establish minimum standards of "satisfactory progress" for students receiving financial assistance.
This means that a student must make progress toward obtainment of an appropriate degree or certificate during each term that the student is enrolled. These standards are applicable to all federal, state and institutional aid programs administered by Morehead State University.
To continue to receive financial aid at MSU, a student must demonstrate satisfactory academic progress by completing a minimum number of the total hours attempted, and by also maintaining a minimum GPA.
Graduate students will be considered to be making satisfactory academic progress for financial aid purposes as long as all of the following requirements are met:
- A student must successfully complete a minimum of 67 percent of the credit hours attempted. Successful completion for this purpose is defined as receiving a "C" or better.
- A student must maintain a minimum 3.0 cumulative GPA.
- A student has attempted no more than 150% of the number of hours required for his or her degree.
Grading Policies and Procedures
The specific policies and procedures to be used in applying the satisfactory progress standards are outlined below:
- Satisfactory progress will be evaluated at the end of each spring semester. (For the Federal Direct Loan, evaluation will be completed prior to the certification of the loan application.)
- Hours attempted for purposes of this policy will be defined as those for which a student receives a grade of A, B, C, D, E, F, I, IP, K, P, R, U, N, or W.
- For graduate students, grades of D, E, F, I, IP, P, R, U, N, and W will not qualify as successful completion of hours attempted.
- Noncredit remedial courses, courses taken for audit, and courses in which grades of "K" or "P" are received are not figured in the calculation of a student's GPA.
- If otherwise eligible, students will be given financial aid during a term in which they may be repeating a course. Financial aid can pay for the repeat of a passed class only one time.
- A student who fails to maintain satisfactory progress as defined will not be permitted to receive federal, state, or institutional financial aid.
Appeal Procedure for Students Who Fail to Maintain Satisfactory Progress Standards
Students who fail to meet satisfactory progress standards, as defined, may appeal the ruling to the Office of Enrollment Services if they believe extenuating circumstances led to their failure to maintain satisfactory progress. Those desiring to appeal must do so in writing on the Unsatisfactory Academic Progress Appeal for Student Financial Aid form and must attach supporting documentation. Copies of the appeals form may be obtained in the Office of Enrollment Services or online at www.moreheadstate.edu/finaidforms. Students will be notified in writing of the action taken on their appeals. Financial aid eligibility will be reinstated for all students whose appeals are approved.
Reinstatement of Financial Aid Eligibility
Students who do not appeal or have an appeal denied can regain eligibility for financial aid by enrolling for a subsequent academic term (fall, spring or summer term) at his or her own expense, satisfying the satisfactory progress definition.
Procedure for Determination of Student Residency Status for Fee Assessment Purposes
To apply for a change of residency, a student must complete the Application for Student Residency Reclassification for Fee Assessment Purposes and submit it to the Office of Enrollment Services. The student will be notified of the residency status decision in writing. To view the full policy online, visit www.moreheadstate.edu/finaidforms.