Financial Aid
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Office of Enrollment Services
100 Admissions Center
Morehead, KY 40351
Phone- (606).783.2000
Fax- (606).783.5038

Award Information

Introduction
Disbursal of Financial Aid
Federal Pell Grant
Federal Supplemental Educational Opportunity Grant (FSEOG)
College Access Program Grant (CAP)
Scholarship
Federal Student Employment (FSEP)
Institutional Student Employment (ISEP)
Federal Perkins Loan
Direct Loans
Over-Awards
Satisfactory Progress

 

Introduction

The Morehead State University Office of Enrollment Services has analyzed the information you provided on your financial aid application (FAFSA) and your MSU Student Financial Aid Personal Data Sheet.  The types and amounts of aid we can offer you are listed on your Financial Aid Notification (award letter).

You should read and comply with the following information, paying particular attention to the items that deal with the specific type(s) of aid awarded to you.

All financial aid offered is dependent upon your eligibility, your subsequent enrollment, and the University receiving sufficient funds from federal, state, and institutional sources.  We fully intend to fulfill all aid commitments; however, should available funds be insufficient to meet our offer to you, we will notify you immediately.

 

Census Date

Aid is awarded and disbursed based on student's enrollment  on the published census date (last day to add a full semester class)

Disbursal of Financial Aid

Funds for which you are eligible will be credited to your student account each semester.  (Student Employment funds are not credited to the student accounts).

Students will receive one-half of their academic year award for the fall semester and the other half for the spring semester.

 

If You Have Been Awarded A:

Federal Pell Grant

A Federal Pell Grant is a gift assistance that normally does not have to be repaid.  The Federal Pell Grant amount listed on your Award Letter may be an estimate, and is based upon your enrollment.  Your grant may increase or decrease according to the exact course load for which you enroll each semester.

 

Federal Supplemental Educational Opportunity Grant (FSEOG)

FSEOG aid is a gift assistance normally awarded to full-time students with the lowest family contribution.

 

College Access Program Grant (CAP)

The CAP Grant is gift assistance funded and awarded by the Kentucky Higher Education Assistance Authority.  The CAP Grant amount listed on this notification may be an estimate.  You will receive official notification by mail directly from KHEAA regarding the amount for which you are eligible.

 

Scholarship

Scholarship aid is gift assistance funded and awarded by the University and by various local, state, and national organizations.  Most scholarship award decisions are based on a student's academic achievement and/or special skills and talents.

 

Student Employment
Federal Student Employment (FSEP)
Institutional Student Employment (ISEP)

Student Employment aid is assistance earned on a wage-per-hour basis through assigned part-time employment on campus.  An effort is made to provide each work study recipient with a work experience that will compliment his or her skills and/or academic objective.  You will be paid semi-monthly based on the number of hours worked.  The total work study award indicated on your notification represents the maximum amount you can earn.

 

Federal Perkins Loan

Federal Perkins aid is loan assistance that must be repaid.  Repayment begins nine months after you cease to be at least a half-time student.  You must sign a Federal Perkins promissory note prior to disbursal.  You must complete Entrance Counseling prior to receiving your first Perkins Loan.  You must also complete a Federal Perkins Questionnaire form and schedule an exit interview with the Federal Perkins collections office prior to leaving school.

 

Direct Loans

Direct Lending is a federal loan program, known officially as the "William D. Ford Federal Direct Loan Program."  Loans made under this programs are called "Federal Direct Stafford/Ford Loans."  You will be sent a promissory note to sign unless you have already signed a Master Promissory Note.  You must complete required Entrance Counseling prior to disbursal of your first Direct Loan.  Students who are first time, first year borrowers, cannot receive their first disbursement until 30 days after the first day of class. 

Loans that are approved will be credited to your account.  After fees are paid, you will receive any appropriate refund.  When you leave MSU, you will be required to complete exit counseling regarding repayment.

 

Other Awards

Scholarships and awards provided by some source other than the Office of Enrollment Services may not appear on this notification.  However, if you receive any financial aid other than that listed on this notification, it is your responsibility to report such information to the Office of Enrollment Services immediately, so that necessary adjustments to your award can be made.

 

Over-Awards

Federal regulations restrict the total amount of funds for which students may be eligible.  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:

  1. Check with the Office of Enrollment Services to see if the maximum need has been met before applying for other aid programs.
  2. Make sure all resources are reported on the aid application.
  3. Notify the Office of Enrollment Services of aid received from sources other than the Office of Enrollment Services.

 

Overpayments

If you fail to complete either of the semesters for which you receive an aid award, you may have to return all or a portion of your award to MSU in accordance with federal, state, and university regulations.  If you fail to repay money as required by the U.S. Department of Education, or if you are in default on student loan repayments, you will not be permitted to receive any further Title IV aid.

 

Satisfactory Progress

Federal, state and university regulations require that to initially receive or to continue to receive any type of financial aid (grant, loan, scholarship, student employment) at Morehead State University, students must maintain satisfactory academic progress.  Students are encouraged to review the University's satisfactory academic progress policies for financial aid purposes as they appear in the University Undergraduate Catalog and the University Graduate Catalog.  Copies of the policy are also available in the Office of Enrollment Services, or click here SAP Policy to view on-line.