Financial aid is offered to help pay educational expenses. Once your financial need is calculated, we will attempt to meet your needs with funds from available financial aid programs.
MSUM reviews grant eligibility first, federal or state work study eligibility second, and then loan eligibility. Our goal is for you to receive all gift money first and have minimum loan and work burdens. Therefore, your award package may require adjustments when additional resources or scholarship dollars are received.
Student’s Guide to Financial Aid Tuition & Fee Refunds Due to Withdrawal
Your Financial Aid Award is posted to the secure MSUM eServices website and is accessed with your Star ID and password. An email will be sent to your mnstate.edu email address when your award is ready.
The Financial Aid Award lists expected types of aid. Any adjustments or inaccuracies in this information should be reported to the Office of Scholarship and Financial Aid. If awarded, you can accept/reduce/decline Perkins Loans and work study as well as your Federal Direct Loan(s), online through eServices. No Federal Direct Loan will be processed without acceptance. Loans you have not accepted and certified by MSUM prior to your last day of enrollment are forfeited.
Once a Direct Loan Master Promissory Note (MPN) is completed it is valid for up to 10 years. The electronic version can be completed online at studentloans.gov using your FSA ID. A paper MPN will be provided if you are unable to use the electronic process.
If you initially decline a Federal Direct Loan, it may be reinstated by contacting the Office of Scholarship and Financial Aid. Loans cannot be processed after the end of an academic year for prior attendance.
Private Educational Loans from the Financial Aid Award are not processed by MSUM. You must choose a lender and complete the lender’s application.
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 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’ll be notified of any changes. In some overaward cases, you may need to repay the money you received. For this reason, it is important you keep a copy of the original award notice and notify MSUM immediately if other funding is made available.
Students can charge up to $600 for fall semester and again for spring semester (up to $400 for summer) for books and required supplies.
To charge, you’ll need a current Dragon ID/Star ID card. Your current class schedule should have your Dragon ID/Star ID number listed. The charges are billed to your account and will appear on your MSUM statement during payment. Failure to pay MSUM Bookstore charges in full from a previous term will affect your ability to charge in later semesters.