Financial Aid

What does it cost to attend MSSU?
See ESTIMATED COSTS

What makes up the Cost of Attendance at MSSU?

The “Cost of Attendance” consists of five elements. The first element is tuition and fees; the second is room and board; the third is books and supplies; the fourth is transportation costs; and the fifth is miscellaneous expenses. The cost of attendance is reviewed each year to allow for changing costs and the increase in the cost of living expenses. Your cost of attendance at Missouri Southern may vary do to several factors. These factors are whether you are a dependent or independent student, where you will live while attending college such as on campus, off campus or with parents, whether you are an in-state or out-of-state resident, and the number of credit hours in which you enroll. In addition you may have different costs due to the amount you spend on books, supplies, transportation and miscellaneous. For a sample cost of attendance click on ESTIMATED COSTS.

Who is responsible for college costs?

You and your family have the primary responsibility for financing your college education. Your parents or your spouse should help you as much as their resources allow, and you should expect to earn a portion of your expenses by working during the summer and if necessary during the school year. The combination of the amount both you and your parents can afford to pay is called your “expected family contribution”.

What is expected family contribution?

The United States Department of Education calculates the “expected family contribution” using the information which you provide on the Free Application For Federal Student Aid. Your family’s income, assets and savings are considered if you are dependent (usually under 24 years of age). If married, your contribution is a combination of you and your spouse’s income, assets and saving. Other assets that are included are Social Security, earned income credits, and veterans benefits.

What is financial aid?

Financial aid is money or the opportunity to earn money provided by various agencies or individuals which helps those students for whom college financing is a problem. Financial aid comes in three basic forms:

• Gift aid - no repayment
• Employment - part-time work on campus or off campus
• Loans - to students or parents at low interests rates

How do I apply for financial aid?

For a step by step guide to applying for aid, click here.

What is financial need?

Financial need is the difference between the amount of money you and your family are expected to provide toward your education and the Cost of Attendance. The Cost of Attendance minus the “Expected Family Contribution” equals your ”Financial Need.”

How can I determine if I am eligible for financial assistance?

You will be notified of the results of your Free Application For Federal Student Aid (FAFSA) whether you completed the paper or internet application. The U.S. Department of Education analyzes your application using the federal need analysis called “Federal Methodology.”

What is Federal Methodology?

Federal Methodology is a need analysis formula created by the U. S. Congress to establish a standardized, equitable system for financial aid agencies nationwide. It is used to calculate how much money individual students and their families can reasonably be expected to contribute towards higher education. Family size, taxable and nontaxable income, assets, the number in college, and age of older parent are taken into consideration. The result of the calculation is called “Expected Family Contribution.”

How does Missouri Southern get my information?

When you complete the Free Application for Federal Student Aid (FAFSA) you will be asked what schools you wish to receive the information. Listing Missouri Southern allows us to draw down the data electronically and create an electronic file for you.

What happens once my FAFSA information is received by Missouri Southern’s Financial Aid Office?

The Student Financial Aid Office reviews the data. If the data has been selected for verification, documents are requested supporting the information on your FAFSA. After the review, the expected family contribution will be compared to the cost of attendance. If the cost of attendance is greater than your expected family contribution, you will be considered for need based financial aid. If your expected family contribution is larger that the cost of attendance, you will only considered for non-need based financial aid.

What need-based and non-need based federal aid is available to students?

Click here for a list of aid types.

What need-based and non-need based state and local aid programs are available to students?

Refer to aid types.

How does the college distribute aid among students?

The awarding of financial aid depends on several factors, such as eligibility, verification, priority date, performance, and financial need. Federal programs are generally awarded on a first come first serve basis to verified, eligible applicants starting with the lowest “EFC” to the highest “EFC”. The General priority date for federal aid is February 15 and March 1 for institutional aid.

What are the rights and responsibilities of students receiving aid?

• RIGHTS
  • Rights of loan recipients (See ENTRANCE/EXIT COUNSELING)
  • Written notification of the financial aid awards
  • To appeal the probation or suspension of financial aid
  • Consumer information and availability of financial aid staff for counseling
  • Privacy under the Family Educational Rights and Privacy Act of 1974

Note: The above is a sample of rights. Not all rights are listed. For further information, contact the Financial Aid Office

• RESPONSIBILITIES
  • Responsibilities of loan recipients (See ENTRANCE/EXIT COUNSELING)
  • Must meet satisfactory academic progress
  • Must meet the required criteria of awards to have funds awarded or renewed
  • Must report the following changes to the Financial Aid Office:
    • 1 Withdrawing from college
    • 2 Adding or dropping of classes during the semeste
    • 3 Name change
    • 4 Change in your or your parent’s address
    • 5 Transferring to another college
  • Federal Work-Study and Student Help employees must turn in time sheets
  • Veterans must sign up for Veterans’ benefits at the beginning of each semester
  • Checks must be picked up by the recipient in person with proper identification
  • To complete the financial aid process

Note: The above is a sample list of responsibilities. Not all responsibilities are listed. For further information contact the Financial Aid Office

How and when will financial aid be disbursed?

In order to received funds as indicated on your award letter, you must sign, initial the awards accepted, and return the award letter to the Financial Aid Office. In addition, you must sign and return all promissory notes. If this is your first loan you must view the pre-loan video and receive loan counseling. Some loan recipients are required to take a test concerning pre-loan counseling. After the first week of school, your enrollment status will be checked. If your enrollment status is equal to or greater than the required hours, your eligibility will be checked electronically and your account will be credited. A check will be prepared for the balance of your funds on the second weekend of classes. Further awards to student accounts are processed and checks are mailed to students no later than Wednesday. Federal Work-Study and Student Help employees are paid in the middle of each month. These checks must be picked up at the Cashier’s window in Hearnes Hall.

What are the terms and conditions of employment?

Federal Work-Study is generally awarded to full time students. Recipients must maintain a minimum of six hours of enrollment as a regular student in a degree seeking program. If a student’s course load falls below six hours, employment will be terminated immediately. As a workstudy recipient, you must report to the Financial Aid Office no later than the first week of classes for an interview and job placement. You will be required to prove your identity and employability by providing documents such as a copy of your birth certificate, driver’s license, social security card, and complete a W4 form.. Following the interview, you will be issued a job assignment card that must be signed by your supervisor. If you do not pick up your job assignment card by the end of the second week of the semester, we will assume you do not want to work and will award funds to other students.

You must complete time sheets on a weekly basis  and have your supervisor sign it. Checks will be issued in the middle of each month at the cashier’s window. You must have your valid student identification card to pick up your check. Once you have earned the dollar amount of your award, your Federal workstudy employment will be terminated. If additional funds are awarded to you that are not included in your original award letter, your Federal work study award may be reduced and your employment may be terminated. Finally, you must meet the satisfactory academic progress guidelines for federal aid recipients.

What are the terms of, schedules for and the necessity of loan repayment and required loan counseling?

When you, as a student borrower, sign any promissory note or statement, it means you understand the loan or statement and you recognize your responsibilities, and agree to honor them. Any type of loan is a serious legal obligation. You must repay the full amount of the loan with all accrued interest and deducted fees even if you do not complete your education.

See entrance/exit counseling for loans.

What is the criteria for measuring satisfactory academic progress and how can a student who has failed to maintain satisfactory academic progress date reestablish eligibility for federal aid?

See SATISFACTORY ACADEMIC PROGRESS

What information is available regarding the availability of SFA funds for study abroad programs?

The primary source of information about the college is the college catalog. Information concerning study abroad is in the catalog . Additional information may be acquired from the Dean of the School of International Studies. Federal funds are available to students that study abroad in programs such as the ISEP program which is either one year or one semester in length. Student who attend certified foreign school may also be eligible for funding. Questions concerning study abroad should be directed to the Director of Student Financial Aid.

Where can names of associations, agencies, and governmental bodies that accredit, approve or license the school and its program be found? What is the procedures by which a student may receive a copy of the review of the school accreditation, licensure, or approval?

The college catalog is the primary source book for information concerning the college. Information concerning the procedures to obtain a copy of accreditation information is in the college catalog.

What special facilities and services are available to disabled students?

Information concerning special facilities and services available to disabled students is located in the college catalog and the student handbook.

What information is available on preventing drug and alcohol abuse?

Drug and alcohol prevention information may be found in the college catalog as well as in a variety of other locations. The student handbook that is published each year contains the college substance abuse policy, information about health risks, and resources where to receive help. This document is given to all faculty, new incoming freshman and made available to current students in residence halls and the student center. In addition, the faculty handbook contains information concerning substance abuse. All orientation classes cover alcohol and drug abuse in films and programs are conducted concerning prevention by the Campus Activities Board, Residence Hall Association and the Student Services Office.

Where can I obtain a copy of the college’s refund policy?

The college’s refund policy is in the college catalog. The policy explains when refunds will be computed and the order of refund distribution.

What degree programs, training and other education is available at the college?

The college catalog is the primary source of information concerning the college’s programs, training and other educational opportunities.

Where is information concerning instructional, laboratory, and other physical facilities associated with the academic programs?

The college catalog is the primary source of information about instructional, laboratory, and other physical plant facilities associated with academic programs.

Where can a list of the faculty and other instructional personnel be found?

A list of the faculty and other instructional personnel may be found in the college catalog or via the college’s home page.

Where can a copy of the college’s satisfactory progress standards be obtained?