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Types of Aid
(Financial Aid Programs)
GRANTS
(do not require repayment)
Federal Pell Grant: Need must be established by filing the FAFSA. Awarded only to undergraduate students who have not earned a bachelor's degree or professional degree (such as pharmacy or dentistry). Pell Grants provide a foundation of financial aid to which other aid may be added.
Federal Academic Competitiveness Grant (ACG): Need must be established by filing the FAFSA. Awarded only to undergraduate students who are Pell Grant eligible; enrolled at least half-time in their first or second academic year of study; and, have graduated from a rigorous high school program of study.
Federal National Science and Mathematics Access to Retain Talent Grant (SMART): Need must be established by filing the FAFSA. Awarded only to undergraduate students who are Pell Grant eligible; enrolled at least half-time in their third or fourth academic year of study; major in mathematics, science, technology, engineering or critical foreign languages; and, have at least a 3.0 cumulative grade point average.
Teacher Education Assistance for College and Higher Education (TEACH) Grant: Not need-based but FASFA application is required; awarded to eligible students majoring in designated MSU Education programs. Student must commit to a 4-year service obligation within 8 years of program completion and be a full-time teacher in a high-need field at a low-income school; failure to complete the service obligation will require repayment of the TEACH Grant under the auspices of the Federal Direct Unsubsidized Loan Program. Additional information is available at http://finaid.mwsu.edu.
Federal Supplemental Educational Opportunity Grant (FSEOG): Need must be established by filing the FAFSA. Available to eligible undergraduate students who have maximum need and are eligible for funds in addition to the Federal Pell Grant.
Toward Excellence, Access, & Success Grant (TEXAS): Need must be established by filing the FAFSA. A state grant program available to Texas residents who graduated from a Texas high school no earlier than Fall 1998 and completed the recommended or advanced high school curriculum or its equivalent. Refer to the TEXAS Grant Fact Sheet for additional details regarding this program.
Mustangs Guarantee Tuition Program: Need must be established by filing the FAFSA. Beginning Fall 2010, available to beginning freshman students who have been accepted for admission to MSU and are Texas residents, Pell Grant eligible, and whose family's combined annual Adjusted Gross Income (AGI) is $50,000 or less. The student’s financial aid file must complete on/before APRIL 30, which includes the submission of all required documents if chosen for federal or institutional verification, which includes but is not limited to student/parent income tax returns and verification worksheet. The Mustangs Guarantee Program will cover the remaining balance of any tuition and mandatory fees (for up to 15 credit hours each semester for up to four academic years- summer terms not included) that are NOT covered by other grants, scholarships (all sources), exemptions, benefits, and/or waiver programs received by the student. Additional information is available at http://finaid.mwsu.edu.
Texas Public Educational Grant (TPEG) for Resident and Non-Resident Students: Need must be established by filing the FAFSA. Available to eligible students who have need and meet other eligibility requirements; may be received in addition to, or in place of, the Federal Pell Grant.
Texas Public Educational Grant (TPEG) for International Students: Not need based per FAFSA requirements but need must be determined via MSU application process. Interested students should contact the International Program department or the MSU-FAO; selections are made by the TPEG International Grant Committee.
Top 10% Scholarship: Need must be established by filing the FAFSA. Need must be established by filing the FAFSA. Provided by the Texas Higher Education Coordinating Board, the Top 10% Scholarship encourages students who graduate in the top 10 percent of their high school class to attend a Texas public institution of higher education. Qualifying students who submit the Free Application for Federal Student Aid (FAFSA) or Texas Application for State Financial Aid (TASFA) by March1 and have financial need are entitled to receive a $2000 scholarship if they enroll fulltime in a Texas public college or university. Students who submit their FAFSA after April 1 will be awarded on a first-come, first-served basis until available funds have been spent. Additional information is available at http://finaid.mwsu.edu.
Other Federal, State and Institutional Grants/Scholarships: Need must be established by filing the FAFSA. Available to eligible students in accordance with program and institutional requirements; may be received in addition to, or in place of, the Federal Pell Grant. These grants include:
*SLEAP/LEAP Grant
*Student Property Deposit Grant
*5th Year Accounting Grant/Scholarship
*FDR Grant/Scholarship
*DAR Grant/Scholarship
*Boren Grant/Scholarship
*Texas Coordinating Board Nursing Scholarships
*MSU Gold Scholarships
LOANS
(require repayment)
Federal Direct Subsidized Loan: Need must be established by filing the FAFSA prior to processing the loan's Master Promissory Note (MPN). The loan funds are obtained and disbursed through the FAO in cooperation with the federal government who serves as the lending institution. Repayment of principal and interest begins aftethe student ceases to be enrolled on at least a half- time basis and a six-month "grace period" has expired. Additional information regarding the Direct Subsidized Loan program is available here.
Federal Direct Unsubsidized Loan: Not need based but eligibility must be determined by filing the FAFSA prior to processing the loan's Master Promissory Note (MPN). The loan funds are obtained and disbursed through the FAO in cooperation with the federal government who serves as the lending institution. Student is encouraged to repay accrued interest during enrollment period(s); otherwise, repayment of accrued interest and principal begins after the student ceases to be enrolled on at least a half- time basis and a six-month "grace period" has expired. Additional information regarding the Direct Unsubsidized Loan program is available here.
Federal Direct PLUS Loan: Not need based but eligibility must be determined by filing the FAFSA prior to processing the loan's Master Promissory Note (MPN). Available to the parent of an enrolled, dependent student; graduate and professional students are eligible to apply as well. The loan funds are obtained and disbursed through the FAO in cooperation with the federal government who serves as the lending institution. Repayment begins within 60 days from the date the loan funds are fully disbursed each year; principal repayment can be deferred under certain conditions. Additional information regarding the Direct PLUS Loan program is available here.
TEXAS B-On-Time Loan: Need must be established by filing the FAFSA. Provides eligible Texas students with no-interest loans; if the student meets specified goals, the entire loan can be forgiven upon graduation. Student must be a Texas resident, enrolled full-time and has graduated under the recommended high school program from a public or accredited private high school in Texas OR have graduated in the 2002-03 academic year or later from a high school operated by the U.S. Department of Defense OR have earned an associate's degree from an eligible institution no earlier than May 1, 2005. Refer to the BOT Fact Sheet for additional details regarding this program.
Federal Perkins Loan: Need must be established by filing the FAFSA. At MSU, priority for the Perkins Loan will be given to students who maintain a minimum 3.0 cumulative grade point average and is seeking a Teaching or Nursing degree. Following a grace period, repayment of principal and interest begins after the student ceases to be enrolled at least half-time. The interest rate is 5% and is processed and collected through Panhandle Plains Higher Education Authority (PHEAA) in conjunction with the MSU FAO.
College Access Loan (CAL): Not need based but eligibility must be determined by filing the FAFSA. Student must be a Texas resident and enrolled at least half-time. The loan plus other financial aid may not exceed the Cost of Attendance (COA) as determined by the University. Interest rate is determined by the Texas Higher Education Coordinating Board. Refer to the CAL Loan Fact Sheet for additional details regarding this program.
Alternative Private Loan: Not need based. Offered as an alternative loan program when the student/parent is no longer eligible to receive the above-mentioned loans. Eligibility criteria varies among lenders; contact the MSU-FAO for complete details.
MSU PAYMENT PLANS
(require payment)
Installment Plan: a short-term payment plan which is administered by the MSU Business Office (940:397-4101) and can be used to defer payment of tuition and fees and/or on-campus room and board for the fall and spring semesters only. The Installment Plan is NOT available during the Summer terms. One-half (1/2) of the total amount is due at the time of registration; one-forth (1/4) is due prior to the start of the 6th week of class; one-fourth (1/4) is due prior to the start of the 11th week of class. A $22.50 service charge is added to this payment. The Installment Plan contract can be picked up at the MSU Business Office, or accessed and submitted on-line at https://webworld.mwsu.edu. Students who do not meet the required first payment by the fourth class day of the semester will be invalidated from their classes. Students invalidated for non-payment and who are registered in their classes will be assessed a $25.00 reinstatement fee and a $25.00 late registration fee. Additional details are available at http://www.mwsu.edu/busoffice/paymentplans.asp.
Emergency Tuition and Fee Loan (ETFL): A short-term loan which is administered by the MSU Business Office and allows the student to defer up to 100% of required tuition and fee expenses only (excludes on-campus room and board expenses and Property Deposit fee). A $22.50 loan origination fee and a 1% service charge are added to this loan. Repayment is due as scheduled during the semester or summer term(s) in which it is borrowed, or upon official withdrawal from the university. After completing the ETFL Contract ONLINE at http://www.mwsu.edu/busoffice/paymentplans.asp, you will be able to print and sign a promissory note which must be delivered to the MSU BUSINESS OFFICE.
Book Loan Vouchers: are available to students whose financial aid refund check is not sufficient to cover the cost of books - OR - the student is not receiving financial aid but needs additional assistance with purchasing books. Repayment is due as scheduled during the semester or summer terms(s) in which it is borrowed or upon official withdrawal from the university. Book Loan Vouchers must be submitted online (available at http://finaid.mwsu.edu/bookvoucher.asp) and a copy of the completed form brought to the MSU Financial Aid Office (Hardin South, Room 102) for additional processing. Faxed copies will NOT be accepted unless you are a Distance Education student. (NOTE: DISTANCE EDUCATION STUDENTS -if you selected Financial Aid as the payment option for your textbooks but your refund check is not sufficient to cover the cost of textbooks and, thereby, you want to use the Book Loan Voucher, you MUST submit the Book Loan Voucher online (available at http://finaid.mwsu.edu/bookvoucher.asp) to secure your textbook purchases. Remember to fax your completed Book Loan Voucher form to the MSU Financial Aid Office at 940:397-4852 at which time the completed form will be forwarded to the MSU Bookstore to complete your textbook purchase; you will receive an email confirmation from the MSU Bookstore that your textbooks have been processed and are ready to ship or ready for pick up.)
PART-TIME EMPLOYMENT
College Work-Study: Need must be established by filing the FAFSA. Federal and state programs offer up to 20 hours per week of on-campus/off-campus employment. Early applicants have the maximum opportunity to receive college work-study funds as part of an overall financial aid package. Additional information regarding Work-Study jobs is available at http://finaid.mwsu.edu.
Off-Campus/On-Campus Employment: Not need based. Interested students should contact the MSU Career Management Center at 940:397-4473, located in room 108 of the Clark Student Center for additional information.
ACADEMIC AND/OR ATHLETIC SCHOLARSHIPS
Robert C. Byrd Scholarship: administered by the Texas Higher Education Coordinating Board. Interested persons must contact the Coordinating Board to obtain an application; selections are made by the Coordinating Board based on the student’s academic record and anticipated success in college. Refer to the Byrd Scholarship Fact Sheet for additional details regarding this program.
Academic Scholarships: University scholarships are available in recognition of a student’s academic achievement, special abilities as indicated by the applicant’s academic transcript, entrance exam scores, participation in extracurricular activities, and other criteria as defined by specific scholarship programs. Students should seek information about scholarship applications and deadline dates through the academic departments at http://academics.mwsu.edu/, MSU Admissions Office at http://admissions.mwsu.edu and University Donor Services at http://mwsu.edu/donations/scholarship-apps.asp. Scholarship recipients may be held responsible for repayment of all scholarship funds awarded if the student’s academic and/or enrollment status changes during the term in which the scholarship is received.
Athletic Scholarships: Generally awarded based on the student’s athletic ability. Information regarding athletic scholarships can be obtained from the Head Coach of the particular sport.
Community and service organizations also offer scholarships, but students should apply early and know the deadlines! With a little work, a student can obtain scholarships to help fund his/her college education. Many websites are available to help students search for scholarships.
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