FAQ

Am I eligible for financial aid?  
How much aid am I eligible for?  
How do I know if I’m a dependent or independent?
What records will I need in order to complete the Free Application for Federal Student Aid (FAFSA)?  
How can I apply for financial aid?  
Should I apply for aid even if I probably won't qualify?  
Do I have to wait until I am admitted before I apply for financial aid?  
How do I update my FAFSA to include MSU as a school choice?  
What is the MSU School Code?  
What happens after I apply for financial aid?  
Why is there no bill on my account?  
What are my options to cover the remaining balance on my account?  
How do I protect my class schedule?  
How do I know if I have protected my class schedule?  
When can I charge my books at the bookstore?  
What is a CAP (College Access Program) Grant?  
What is a Pell Grant?  
What is the Federal Supplemental Educational Opportunity Grant (FSEOG)?  
Where can I find information about MSU scholarships?  
How many credit hours are required to receive aid?  
My FAFSA was rejected because it is missing a signature. What do I do?  
I was selected for verification. What is that and what do I have to do?  
How much aid will I receive?  
Is there aid available for summer school?  
How many credit hours must I be enrolled in order to receive a Pell Grant?  
What is the difference between a Federal Subsidized and an Unsubsidized Stafford Loan?  
How do I decline my loans?  
How do I reduce my loans?  
When is KEES disbursed?  
I have financial aid at another school, but I want to transfer to MSU. Can I transfer my aid?  
Where can I get financial aid forms?  
When should I submit my FAFSA?  
I want to start paying on my direct loan(s) before I graduate. How and where do I make payments?  
What are the interest rates for federal student loans?  
How do I find out who is the lender of my direct loan(s)?  
How do I complete entrance counseling for my direct loan(s)?  
How do I complete a Master Promissory Note (MPN)?  
How do I complete exit counseling for my direct loan(s)?  
How do I register for selective service?  
How do I request an IRS tax transcript?  
How do I apply for a work study position?  
Why do I have a loan on my award letter that I didn't apply for?  

Am I eligible for financial aid?
In general, you’re eligible as long as you:                               
  • are a U.S. citizen or eligible noncitizen
  • are registered with the Selective Service, if required by law
  • are working toward a degree, diploma, or certificate
  • are making satisfactory academic progress (SAP)
  • do not owe a refund on a federal grant or are not in default on a federal educational loan
  • demonstrate financial need, if required
  • have not been convicted of drug distribution or possession

How much aid am I eligible for?
The federal government and ACT provide electronic forms that estimate how much you might receive. No amount is certain until you apply, but these forms will give you a good, general idea.

How do I know if I’m a dependent or independent?   
If you answer no to all of the questions below, you are considered dependent. If you answer yes to any of these questions, you are considered independent:   
  • Are you at least 24 years old?
  • Do you have a bachelor's degree?
  • Are you married? (Answer yes if you are separated, but not divorced.)
  • Are you an orphan or ward of the court or were you a ward of the court until age 18?
  • Are you a veteran of the U.S. armed forces?
  • Do you have dependents other than a spouse who receive more than half of their support from you and will continue to do so through next summer?

What records will I need in order to complete the Free Application for Federal Student Aid (FAFSA)?
If you declare yourself independent, you’ll need to gather the information below. If you are married, you’ll need to gather this information for both you and your spouse. If you declare yourself a dependent student, you’ll need the following for both you and your parents: 
  • Driver’s license and Social Security card (students only)
  • W-2 Forms and other records on money earned 
  • 2014 U.S. income tax return (IRS Form 1040, 1040A, or 1040EZ)**
  • Records of untaxed income, such as welfare, Social Security, TANF or ADC, or veterans benefits
  • Current bank statement
  • Current mortgage information
  • Business and farm records
  • Records of stocks, bonds, and other investments
  • Copies of records showing child support received or paid 
  • Copies of records showing any income or benefits not mentioned above or reflected in income taxes
  • A copy of your high school transcript or GED (or statement of proof) may be required by the admissions or financial aid office before financial aid is awarded
**The IRS Data Retrieval Tool on the FAFSA may be used to retrieve information from 2015 tax returns filed by either the student or the parent.

How can I apply for Financial Aid?
To complete the online FAFSA application process, click here and apply for a FSA ID number (both students and parents need an FSA ID number). Then go to fafsa.ed.gov, complete the FAFSA and sign it electronically using your FSA ID number(s). 
Should I apply for aid even if I probably won't qualify?
Yes. The application is free and some sources of aid (unsubsidized Stafford loan and Parent PLUS loans) are available regardless of need. For more info, view Federal Student Aid – Myths about Financial Aid.  

Do I have to wait until I am admitted before I apply for financial aid?
No. Students do not have to be admitted to MSU in order to file the FAFSA. However, a financial offer will not be made until you have been fully admitted into a degree-seeking program. Students applying must be registered for classes in order to be awarded financial aid.

How do I update my FAFSA to include MSU as a school choice?
Go to the FAFSA website and click on "Make Corrections to a Processed FAFSA" under "FAFSA Follow-up". Use your U.S. Dept. of Education PIN to submit a FAFSA correction that lists MSU’s school code, 001976.

What is the MSU School Code?
001976

What happens after I apply for financial aid?
If you apply online, your application will be processed in 10-14 days. You will receive a Student Aid Report via the email account you provided on your financial aid application stating if you are eligible to receive financial aid for the year. 

If you apply by mail, it will take about four weeks. Unless any problems arise, you will get a Student Aid Report in the mail stating if you are eligible to receive financial aid for the year.
Why is there no bill on my account?
Please contact the billing office at 606-783-2019.

What are my options to cover the remaining balance on my account?
  • Payment plans may be arranged online at MyMoreheadState or by contacting the billing office at 606-783-2019. 
  • Parent Plus Loan Application - This loan would be in your parent’s name, and is subject to a credit check. If for any reason your parents are denied this loan we can offer you additional unsubsidized loans as part of the dual parent plus loan application (student completes bottom section of form).
  • Alternative Loan - This loan would be in the student’s name and is subject to a credit check. This loan may require the student to have a co-signer.
How do I protect my class schedule?
To protect class schedules and find more detail on the various options above, please login to MyMoreheadState, select the "Finance" icon, and then select “My Billing Info.” More information is available from the billing office.

How do I know if I have protected my class schedule?
From your MyMoreheadState account, click on "Payment Plan" and it will display your payment plan history. This will display the current and past terms that you have enrolled in a payment plan.

When can I charge my books at the bookstore?
Students must first enroll in a Protect My Class Schedule plan at MyMoreheadState before charging books at the bookstore. The system can take up to 24 hours to update after a student enrolls in a Protect My Class Schedule plan.

What is a CAP (College Access Program) Grant?
The CAP Grant is a need-based state funded grant that has a priority deadline of March 15 for the state of Kentucky. You may apply for Federal and State funds by completing the FAFSA online. What is a Pell Grant?
The Pell Grant is a need-based grant ranging from $598 to $5815 per year. The Pell Grant is available to degree seeking students with an EFC of 5201 or less (as determined on the FAFSA) for the 2016-2017 aid year. The Pell grant has a lifetime eligibility of 600% for all eligible students.

What is the Federal Supplemental Educational Opportunity Grant (FSEOG)?
FSEOG is awarded based on need and the date of application until funds are exhausted.  Students must be eligible for a Federal Pell Grant, have a completed FAFSA and be enrolled full-time.

Where can I find information about MSU scholarships?
Visit the scholarships page to learn more about MSU scholarship opportunities.

How many credit hours are required to receive aid?
Generally, students must be enrolled at least half time (6 credit hours for undergraduate and graduate students) in required coursework to receive most types of aid including Stafford Loans. However, a student may receive a Pell Grant for less than half-time enrollment.

My FAFSA was rejected because it is missing a signature. What do I do?
When you file the FAFSA, you can sign the form by using your FSA ID or by printing off the signature page and mailing it to the address listed on the printed page. If you (or your parents, if you are a dependent student) failed to sign the FAFSA, you can go back to the FAFSA website and sign the form electronically. I was selected for verification. What is that and what do I have to do?
Verification is the federal government's way of making sure students are correctly reporting their information on the FAFSA. 

MSU has a partnership with KHEAA (Kentucky Higher Education Assistance Authority) to complete all verification services on behalf of MSU.

KHEAA Verify will contact all students who are selected for Verification with instructions on how to complete the process. All verification documents should be completed and submitted to KHEAA, not MSU. Please monitor your MSU email for further instructions from KHEAA Verify.

How much aid will I receive?
The amount of aid you are eligible to receive is determined by the information reported by your family on the FAFSA. The US Department of Education uses a formula to determine each student's estimated family contribution (EFC). The EFC is the amount of money the government has determined that a family can contribute to the student's educational costs. The EFC determines grant and loan eligibility.

Is there aid available for summer school?
If you did not attend full time during the fall or spring semester and are Pell eligible, you may have Pell Grant funds available for the summer term. Additionally, you may have remaining loan eligibility for the summer term, if you are enrolled in 6 credit hours or more.

How many credit hours must I be enrolled in order to receive a Pell Grant?
Full-time enrollment (12 credit hours) is required to receive the full Pell Grant award. Students with a semester course load of 1-11 credit hours may be eligible for a prorated portion of their Pell Grant.

What is the difference between a Federal Subsidized and an Unsubsidized Stafford Loan?
For the need-based Subsidized Stafford Loan, the federal government pays the interest while you are enrolled at least half-time (six semester hours). However, for the non-need based Unsubsidized Stafford Loan, interest does accrue while the student is enrolled and must be paid by the student upon graduation or ceasing enrollment of half time status. Both types of Stafford loans have an interest rate that is capped at 8.25%. Repayment begins six months after you graduate or you cease to be enrolled at least half-time (six semester hours). For more information about direct loan interest rates please visit the Student Aid website.
How do I decline my loans?
Students should print off their financial aid award letter, mark through the loan, write DECLINE beside unwanted loan(s), sign, date and return the award letter to the Office of Financial Aid.

Students may also email finaid@moreheadstate.edu stating that they would like to decline their loan(s) for the 2016-17 academic year. Or may complete the "Student Request to Adjust FA" Form found on our Financial Aid Forms page. 
How do I reduce my loans?
Students may email finaid@moreheadstate.edu stating that they would like to reduce their loan(s) for the 2016-17 academic year. Student must state the exact amount of loan funds that they are requesting for the academic year (this amount will be evenly divided between the fall and spring semesters) or may complete the Student Request to Adjust Financial Aid Form.

When is KEES disbursed?
The KY KEES award is usually received in late September by the school you are enrolled at for the fall and mid-February for the spring term. Until disbursement, this scholarship is considered anticipated aid towards your bill. Visit KHEAA's KEES FAQ webpage for more information. You do not have to contact KHEAA to receive the funds.

I have financial aid at another school, but I want to transfer to MSU. Can I transfer my aid?
Pell, CAP, FSEOG and KEES funds do transfer, however loans do not. You must confirm that MSU’s school code (001976) is on your FAFSA so that we can determine your financial aid eligibility. You will not have to fill out a second FAFSA. Once you have completed your application with the Office of Admissions, we will review your FAFSA. If any additional information is needed we will notify you as soon as possible via your MSU student email account.

Where can I get financial aid forms?
Visit the Financial Aid Forms page.

When should I submit my FAFSA?
Beginning with the 2017-2018 school year a student will be able to complete the FAFSA on October 1, 2016 and use their 2015 tax information. For example, if you will be attending fall 2017, you must complete the 17/18 FAFSA as close to October 1, 2016 as possible. Some financial aid awards have limited funding and are exhausted quickly.
I want to start paying on my direct loan(s) before I graduate. How and where do I make payments?
Students are assigned a lender by the Department of Education. Students may visit nslds.ed.gov to find out who their lender is and how to contact that lender about starting repayment of their loans.

What are the interest rates for federal student loans?
For information about current federal student loan rates, visit the Federal Student Aid website.

How do I find out who is the lender of my direct loan(s)?
Students may visit nslds.ed.gov to retrieve their loan information.

How do I complete entrance counseling for my direct loan(s)?
For information about completing entrance counseling, visit the Federal Student Aid website.

How do I complete a Master Promissory Note (MPN)?
For information about completing the Master Promissory Note (MPN), visit the Federal Student Aid website.

How do I complete exit counseling?
For information about completing exit counseling, visit the Federal Student Aid website.

How do I register for selective service?
Visit the Selective Service System website.
How do I request an IRS tax transcript?
To request an IRS tax transcript, visit the IRS website.


How do I apply for a workstudy position?
Please visit the Student Employment page.

Why do I have a loan on my award letter that I didn’t apply for?
Students are awarded grants and direct loan(s) based on their eligibility from their FAFSA (Free Application for Federal Student Aid). 
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