Skip to main content


To help you find the answers to your Frequently Asked Questions, we've narrowed down our FAQ to specific topics and general questions appear at the bottom of this page.
All students are encouraged to complete the Free Application for Federal Student Aid (FAFSA). The FAFSA is the financial aid form used to help students access grants, federal student loans and work-study funds. Please review our page on the FAFSA and specific questions about the form.
Caudill Scholarship Checklist:
  • Apply for admission to Morehead State University. You may apply online at then click on APPLY NOW. If you would like to apply in person, you may come to the office of Admissions at 121 East 2nd Street Morehead, KY. Admissions is located on the first floor on the right side of the hallway. If you have questions, you may call 606-783-2000 or email
  • Submit a copy of your driver’s license to Morehead State University Financial Aid office.Drop off or mail to: Morehead State University, Office of Financial Aid, 150 University Blvd., Morehead, KY 40351 or email to Financial Aid is located on the second floor, room 205. If you have questions, you may call 606-783-2011 or email
   Once accepted to Morehead State University (You will receive an acceptance letter):
  • Activate your MyMoreheadState account at Note: Your acceptance letter will include your MSU ID number. Example: M0123456 
  • Register for classes: Contact Steve Crail at 606-783-2709 or email him at Let him know, your MSU ID number and that you would like assistance in registering for classes as a Caudill Scholarship student.
* The Caudill Scholarship waives all tuition and course fees. Student is responsible for the cost of books.
Your Expected Family Contribution (EFC) is an index number that colleges use to determine how much financial aid you are eligible to receive. Your EFC is calculated according to a formula established by law and the information from your Free Application for Federal Student Aid (FAFSA).

The EFC factors in your family's taxed and untaxed income, assets, and benefits (such as unemployment or Social Security). Your family size and the number of family members who will attend college during the year are also considered.

Note: Your EFC is not the amount of money your family will have to pay for college and it is not the amount of federal student aid you will receive.
The cost of attendance (COA) is not the bill that you may get from your college; it is the total amount it will cost you to go to college each year. Cost of attendance is established by the financial aid office in compliance with federal law.

The COA includes:
  • Tuition and fees 
  • On-campus room and board (or a housing and food allowance for off-campus students)
  • Allowances for books and supplies 
  • Transportation 
  • Loan fees
  • If applicable, dependent care.
  • It may also include other expenses like:
    • An allowance for the rental or purchase of a personal computer,
    • Costs related to a disability, or
    • Costs for eligible study-abroad programs.
Note: The COA for graduate and professional programs is usually higher than for undergraduate programs. For students attending less than half time, the COA includes tuition, fees, and an allowance for books, supplies, transportation, and dependent care expenses.
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.
Federal and state need-based awards include the following:
  • Federal Pell Grant
  • Federal Supplement Educational Opportunity Grant (SEOG)
  • KY College Access Program Grant (CAP)
  • KY Teachers Scholarship
  • Need-Based Scholarship/Grant Programs from States Other than Kentucky
  • Federal Perkins Loan
  • Federal Work-Study
  • Federal Direct Subsidized Loan
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.
Overawards are usually the result of the student receiving aid that the Financial Aid Office was not aware of when it completed the student’s financial aid package and/or processed a loan application for the student. It is the student’s responsibility to provide written documentation indicating additional resources to the Financial Aid Office. Student’s should provide information as soon as the student becomes aware that he or she will receive the aid. We must account for all sources of aid, even if they are not processed directly through our office.

Overawards can also result from housing status changes, application errors by the student or the verification process results in changes made to the FAFSA data. Regardless of the reason for the overaward, we are bound by Federal regulation to correct the overaward. Exceptions cannot be made for anyone.
The Financial Aid Office will take the following steps to correct an overaward.
  1. We will determine whether or not the student has increased financial need that was not anticipated at the time of the award and/or loan application.
  2. If no increased need is demonstrated, and/or the student’s total aid still exceeds his or her need, we will cancel any undisbursed loans and/or return loan funds to the lender if the disbursement has already been made. In cases of extreme gift aid, the institution reserves the right to adjust institutional or campus-based aid within the boundaries of Federal regulations. 
  3. If the student has no loans or the student’s aid still exceeds the student’s need after all loans have been cancelled, we will reduce institutional grant and/or scholarship aid. Any required adjustments will be made from the awards listed below in the order indicated. (Awards from private sources or from MSU colleges or departments not listed below will not be reduced or cancelled.)
  • Federal Work Study
  • Alternative (Private) Loan
  • PLUS Loan • Grad PLUS Loan
  • Unsubsidized Federal Direct Loan
  • Subsidized Federal Direct Loan
  • Need-Based Scholarships awarded by the Financial Aid Office
  • Academic Scholarship Office Scholarships (Includes: Commonwealth, Kentucky Scholars Award, Dean’s Scholar Award, Governor’s Scholar, Rogers Scholar, Black Achiever, Diversity Opportunity, Alumni, Honors, Non-Resident Merit, Reciprocity Merit, Transfer Scholarship (both in-state and out-of-state).
  • Federal Teach Grant
  • KY Teachers Scholarship
  • Federal Supplemental Educational Opportunity Grant (SEOG)
  • KY College Access Program (CAP) Grant Note: • The amount of the Federal Pell Grant and the Kentucky Educational Excellence Scholarship (KEES) are never reduced.
  • Athletic scholarship adjustments are not made for a student with a full grant-in-aid athletic scholarship who is also receiving a Federal Pell Grant - OVC/NCAA rules will take precedence.
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.
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.

When a student registers for classes they create a financial responsibility to Morehead State University. The total semester charges (tuition, housing, meal plans, books and fees) minus financial aid, scholarships, waivers, and third party payments for each semester result in the amount due to the University. 

All students MUST accept a Financial Responsibility Agreement each semester and pay their balance in full or enroll in a payment plan to activate their meal plan and BeakerBUCKs, to allow textbook charges at the University Store, and to prevent cancellation of their class schedule.

To accept your Financial Responsibility Agreement:

  1. Log in to MyMoreheadState.
  2. Under the Self-Service (WebAdvisor) - Student menu, select "Student Financial Info," then select "Financial Responsibility Agreement."
  3. Select the appropriate term, then click SUBMIT.
  4. Read the agreement, then select "Accept" and click SUBMIT.
  • Payment plans may be arranged online at MyMoreheadState or by contacting billing 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.
  • Funding Your Education 
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.
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.
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.
In certain situations, an eligible student can receive up to 150 percent of his or her scheduled Pell Grant award for an award year.

For example, if you are eligible for a $2,000 Pell Grant for the award year, and are enrolled full-time for both the fall and spring semesters, you’ll likely receive $1,000 in the fall and $1,000 in the spring. However, under certain circumstances, you may be eligible to receive an additional $1,000 in the summer semester (resulting in your receiving 150% of your original award). You might hear this situation being referred to as “year-round Pell.”

Additionally, you may have remaining loan eligibility for the summer term, if you are enrolled in 6 credit hours or more.