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  • Financial Aid Awards

Office of Scholarship & Financial Aid

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  • Financial Aid Awards


  • Financial aid is offered to help pay educational expenses.  Once financial need is calculated, the Office of Scholarship and Financial Aid attempts to meet that need with funds from available financial aid programs.  MSUM reviews grant eligibility first, college or state Work Study eligibility second and then loan eligibility.  The goal of the MSUM Office of Scholarship and Financial Aid is for a student to receive all “gift” money first and to have minimum burdens of loan and work.  Therefore, an award package may require adjustment when additional resources or scholarship dollars are received.

    The Financial Aid Award Letter is posted to the secure MSUM website and accessed with the student’s Dragon ID and PIN.  An e-mail is sent to the student’s “mnstate.edu” e-mail address when the award letter is ready.

    The Financial Aid Award Letter lists expected types of aid.  Any adjustments or inaccuracies in this information should be reported to the Office of Scholarship and Financial Aid.  To borrow the Federal Direct Loan, accept the loan(s) online at eservices.  No Federal Direct Loan will be processed without acceptance.  Loans not accepted by the student and certified by MSUM prior to the student’s last day of enrollment (6 credit minimum) are forfeited.

    One Direct Loan Master Promissory Note is completed and is valid for up to 10 years.  The electronic version (eMPN) is completed online at www.studentloans.gov using the FAFSA PIN.  A paper MPN will be provided to those unable to use the electronic process.

    An initially declined Federal Direct Loan may be reinstated by contacting the Office of Scholarship and Financial Aid.  Loans cannot be processed after the end of an academic year (semester or summer) for prior attendance.

    Private Educational Loans are NOT processed by MSUM from the Financial Aid Award Letter.  Students must complete the Lender’s application or do the application on-line from the Lender’s website.

     

    Federal and state regulations prohibit receiving financial assistance that exceeds the cost of attending MSUM.  If you receive additional assistance after your award is processed, a portion of your award may be reduced or cancelled.  Examples of additional assistance that can affect your aid package are:  tuition/housing waivers, some military benefits, Resident Assistant benefits, National Guard benefits, scholarships, DVR, and JTPA.  If an overaward occurs, your award will be revised and you will be notified of any changes.  In some overaward cases, you may need to repay the money you received.  For this reason, it is important that you keep a copy of the original award notice and notify MSUM immediately if other funding is made available.



    Books and required supplies may be charged to your financial aid. To be eligible to charge: 1) you must have sufficient financial aid awarded to cover your bill AND to cover the amount you will be charging. If your financial aid accepted is not enough to cover your bill, then you are not eligible to charge your books; 2) must have the Authorization to Charge form on file in the Office of Scholarship and Financial Aid.

    To charge, a student needs a current Dragon Student ID card. Your current class schedule should have your Dragon ID number listed. The charges are billed to the account and appear on your MSUM statement during payment. Failure to pay Bookstore charges in full from a previous term affects your ability to charge in a subsequent semester.