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Financial Aid

Financial Aid Office

Monday – Friday: 8 a.m. – 5 p.m.

Email Us

Ph: (406) 771-4334
Location: Student Central

Complete the FAFSA

FAFSA School Code:聽009314

罢丑别听聽provides an estimate of how much federal student aid you may be eligible to receive. These estimates are based on the Student Aid Index (SAI), an index number used to determine federal student aid eligibility.

Tips for filling out the FAFSA:

FAFSA help – find answers to common questions:聽

Check out a variety of helpful videos on the FSA/FAFSA YouTube Channel:

Quick Links

Loans

Unlike grants, scholarships, and work-study, loans are a form of aid that you become legally obligated to repay. At 黑料网911 encourages you to make informed decisions when borrowing. Plan and prepare to borrow only what you need to be successful in your education. Fully read and understand all terms and conditions before finalizing a loan.

Federal Loans

Federal loans are awarded based on the results of your, your admission to an eligible degree granting program,聽anticipated enrollment level, and current repayment status if you have outstanding聽student loan debt. Follow these simple steps to receive federal loans:
  • Submit your completed FAFSA
  • Be admitted to a degree-seeking program
  • Accept your Award Letter in MyMSU At 黑料网911
  • Complete Direct Loan Entrance Counseling & sign your Master Promissory Note
  • Register for at least 6 credits each semester
  • Confirm your Bill
  • To continue receiving financial aid you must also maintain Satisfactory Academic Progress

Federal Direct Subsidized Loans

Federal Direct Subsidized Loans are offered to undergraduate students with financial need as determined by the FAFSA to help cover the costs of higher education at a college or career school.聽The U.S. Department of Education pays the interest on the Direct Subsidized Loan:
  • While you are in school at least half-time, (6 or more credits per semester)
  • For the first six months after you leave school (referred to as a grace period), and
  • During a period of deferment (a postponement of loan payments)
The current fixed interest rate for subsidized loans as an undergraduate student can be found at聽.
All loans will also incur an origination fee of 1.057%. Rates and fees are subject to change.
Repayment begins six months after you graduate, drop below half-time or withdraw. Federal Direct Loans will be prorated for any undergraduate student who enrolls in only one semester and will graduate in that same term or academic year. The prorated amount is equal to the number of credits enrolled in divided by 24 credits. Students should never take more credits than they need to graduate. In general, you may not receive Direct Subsidized Loans for more than 150% of the published length of your program of study. For more information, please review the U.S. Department of Education’s Federal Student Aid announcement concerning this聽.

Federal Direct Unsubsidized Loans

Federal Direct Unsubsidized Loans are loans made to eligible undergraduate, graduate, and professional students, but in this case, the student does not have to demonstrate financial need to be eligible for the loan.
  • The U.S. Department of Education does聽NOT pay the interest on the Direct Unsubsidized Loan
  • Interest accrues beginning on the date the loan first disburses
  • You are responsible for the interest during all periods of enrollment and non-enrollment
  • Students may elect to pay the interest while enrolled in school or request to defer payment on the interest
  • If you choose not to pay the interest while you are in school and during grace periods and deferment or forbearance periods, your interest will accrue (accumulate) and capitalize (that is, your interest will be added to the principal amount of your loan)
The current fixed interest rate for unsubsidized loans as an undergraduate student can be found at聽. All loans also will incur an origination fee of 1.057%. Rates and fees are subject to change. Repayment begins six months after you graduate, drop below half-time or withdraw. Federal Direct Loans will be prorated for any undergraduate student who enrolls in only one semester and will graduate in that same term or academic year. The prorated amount is equal to the number of credits enrolled in divided by 24 credits. Students should never take more credits than they need to graduate.

Parent PLUS Loan

The Federal Direct Parent PLUS Loan is a federal loan program offered by the U.S. Department of Education available to parent(s) / step-parent of a dependent student to assist them in meeting their educational costs. To be eligible to apply, the parent borrower must not be in default on any federal education loans and be a U.S. citizen or eligible non-citizen. The Federal Direct Parent PLUS Loan requires a separate application, in addition to credit approval by the Department of Education.

Parent PLUS Loan Application Process

  1. Complete the聽Federal Direct Parent PLUS Application and return to At 黑料网911.
  2. Credit approval will be made by the Department of Education.
  3. If approved, Sign a聽聽(MPN). 聽If you need assistance completing the MPN, call the Direct Loan Origination Center at 1-800-557-7394.
  4. If the Direct Parent PLUS Loan credit decision is denied, the school is notified by the Department of Education.
    1. Direct Loans will automatically send the parent borrower an appeal packet outlining the steps to take to appeal the credit decision or to obtain an endorser for the Federal Direct Parent PLUS Loan.
    2. If the credit decision is overridden, the Department of Education will automatically notify the school of the approval status. (refer to Step 3 above)
  5. If the Direct Parent PLUS credit decision or appeal is denied, the student is eligible to receive additional Unsubsidized Stafford loans.
    1. This option is not available to the student if one parent is denied and another parent is approved credit for a Direct Parent PLUS or if the parent pursues a credit override by submitting an appeal or gaining an endorser and is granted approval.
Private Education Loans, also known as Alternative Education Loans, help bridge the gap between the actual cost of your education and the limited amount the government allows students to borrow in its programs. Private loans are offered by private lenders and are outside the regular financial aid application cycle via the FAFSA. These loans are not guaranteed and are subject to credit considerations and may require a co-signer. At 黑料网911 recommends that if you need to borrow money to help pay for school, take out federal student loans from FAFSA first. Only take out alternative education loans聽after聽exhausting all your FAFSA eligibility.聽Students at At 黑料网911 MSU typically can meet their education expense needs with federal student loans and rarely require private loan funds.聽 As a two-year institution, private loan servicers are limited. It is best to get as much information as possible before you consider a private/alternative loan.聽 Please review the resources below.
  • 聽and at聽
  • Search Private Education Loans via the web for more information
  • Contact your local lenders and credit unions as well
  • If the borrower decides to pursue a private/alternative loan, they will apply with the lender directly, and the At 黑料网911 financial aid office will certify the request up to the unmet cost of attendance
  • 聽Please note: private/alternative loans cannot, in general, be consolidated with federal student loans. The low interest rates on聽federal consolidation loans聽are not available to private education loans

Entrance Counseling

The federal government requires that you complete student loan Entrance Counseling before any accepted Federal Direct Loans will disburse on your behalf. 聽If you would like to schedule a personal appointment regarding Entrance Counseling, please contact the Financial Aid Office. Entrance Counseling can be completed online here: 聽聽聽You will need your Social Security Number and FSA ID.
  • Log In聽with your FSA ID & Password information
  • Select the聽Complete Aid Process and then Complete Entrance Counseling聽link in the middle of the page
  • 厂别濒别肠迟听At 黑料网911 as your school to notify
  • When you are done you will receive confirmation that your Entrance Counseling is complete and be prompted to complete your Master Promissory Note

Master Promissory Note

The MPN for Direct Subsidized and Direct Unsubsidized Loans is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S Department of Education. It also explains the terms and conditions of your loan(s). You may receive more than one loan under an MPN over a period of up to 10 years to pay for your educational costs, as long as the school is authorized to use the MPN in this way and chooses to do so.聽The Master Promissory note can be completed online here: 聽. You will need your Social Security Number and FSA ID. 聽听听听听听听听听听听听听听听
  • Gather references of Family and Friends before you start
  • Log In聽with your FSA ID & Password information
  • Select the聽Complete Aid Process and then Complete MPN for Undergraduates link in the middle of the page
  • 厂别濒别肠迟听At 黑料网911 as your school to notify
  • When you are done you will receive confirmation that your Master Promissory Note is complete

Exit Counseling

The federal government requires that you complete student loan exit counseling before you graduate or stop attending at least half-time (less than 6 credits). 聽If you would like to schedule a personal appointment regarding exit counseling, please contact the Financial Aid Office. Exit counseling can be completed online here: . 聽You will need your Social Security Number and FSA ID.
  • Log In聽with your FSA ID & Password information
  • Select the聽Manage Loans and then Complete Exit Counseling聽link at the 2nd from the left column of the page
  • 厂别濒别肠迟听At 黑料网911 as your school to notify
  • When you are done you will receive confirmation that your Exit Counseling is complete

Cohort Default Rates

A cohort default rate is the percentage of a school’s borrowers who enter repayment on certain Federal Family Education Loan (FFEL) Program or William D. Ford Federal Direct Loan (Direct Loan) Program loans during a particular federal fiscal year (FY), October 1 to September 30, and default or meet other specified conditions prior to the end of the second following fiscal year.
The national current Cohort Default Rate (CDR) for all institution types is 0. At 黑料网911’s most recent Cohort Default Rate is 0; however the national CDR for similarly sized institutions is 0. For information about rate of student borrowing, and repayment information at At 黑料网911, please visit

Repaying your loans

After you graduate, leave school, or drop below 6 credits, you have a grace period before you must begin repayment of your loans.聽 Go to聽聽for information on Managing Repayment. A record of all of the federal aid you have received can be found in your National Student Loan Data System account at聽.

Financial Aid Department

Call

Call: (406) 771-4334

Email or Fax

Email: [email protected]

Fax: (406) 771-4410

Business Hours

Monday-Friday: 8 a.m. – 5 p.m.