Financial Aid
Okay, there are papers to fill out and tax forms to complete, but it’s the first step in getting the best financial aid package possible. Get it done early. To get an estimate of your cost and financial aid eligibility, check out MSUM’s financial aid estimator. This service is available through the end of December. After Jan. 1, students need to complete the FAFSA, and we can do an estimate from the results. Remember, MSUM school code: 002367.
Compare offers
Sure, a $5,000 scholarship and $5,000 financial aid award might sound like a great deal, but you must consider the total cost, not just the aid package. If the school costs $32,000 a year, you’ll still be footing the bill for the remaining $22,000.
Consider your options
You don’t have to make one big payment at the beginning of the year for your tuition and fees. If you can afford to do that, go right ahead. Most students will work out payment plans and there are many options to consider. Check out the MSUM Business Office payments options page.
Do FAFSA first
The FAFSA (U.S. Department of Education’s Free Application for Federal Student Aid) should be filed as early as possible in order to receive maximum consideration of all financial aid programs. This is the first step for students who are interested in receiving financial aid for college. No getting around it, the first step is FAFSA. MSUM’s priority date to submit the FAFSA is February 15.
Things change
If there’s a change in your family circumstances—job loss, divorce, death or disability—you may be able to appeal your financial aid award. It may be worth the time and effort.
Ask questions
This whole financial aid business is a little complicated, even for finance majors. If you have questions or concerns, visit with an MSUM financial aid officer—they’ll help you through the rough spots.
MSUM Scholarship and Financial Aid Office