Financial Aid Menu
My question is about...
What is FAFSA
What type of aid is available through FAFSA
Are loans considered financial aid
Should I wait to file my FAFSA until my taxes are done
I am really independent, why do I have to use my parents information on my FAFSA
Free Application for Federal Student Aid (FAFSA) is the application students use to apply for federal aid assistance.
You may apply for FAFSA online at www.fafsa.ed.gov or you may print a paper copy at the same website. The online application will process in 7 to 10 days. A paper copy will require 6 to 8 weeks to process. You may also apply by telephone at 1 (800) 433-3243.
If your taxes will not be done until after the priority deadline of April 1st, then you should file your FAFSA and indicate on it that you “Will File.” Then, when you have a copy of your Federal 1040 Tax form available you may sign into your FAFSA online and make corrections or access the IRS Data Retrieval tool. It is important to make corrections and submit any required documentation by May 1st.
Answer the question, “Have you completed a tax return” by checking the box “Not going to file” for you and/or your parents. If you did have earnings from work but were not required to file, you will enter the amount from your W-2 forms in “Income earned from work.”
No. Apply as soon as possible after January 1st and list the federal school codes for all schools you are considering. You will not receive a financial aid award letter until you have been accepted to MSSU and meet all other requirements.
MSSU federal school code: 002488.
Yes. Students who have not used their maximum allowed aid during the fall and spring semesters will be eligible for summer aid. You must have a FAFSA for the current academic year on file with the Financial Aid Office.
You must also complete a Summer Aid Request after March 1st.
Yes. You are required to apply for each year you plan on enrolling at a college/university and expect to receive financial aid. The priority deadline for Missouri Southern State University is April 1. If any other documentation is required you must submit it by May 1.
Yes. However, if you miss the priority deadline, there is no guarantee that you will receive your award letter before fees are due and you may need to sign up for the Monthly Tuition Pay Plan until your aid is awarded.
Also, you will be ineligible for some state funding that may otherwise be available.
PELL Grant, SEOG (Supplemental Educational Opportunity Grant), Stafford Direct Loans (Subsidized and/or Unsubsidized), Perkins loan if available, and Work Study if available.
MSSU utilizes electronic notification through Lionet. Once you have been accepted to MSSU, you will receive a student ID number and password. You will need to sign into the student portal called Lionet at www.mssu.edu and go to Financial Aid, select Award and award aid year, and read through the “Terms & Conditions” from the tab at the top of the award screen. You will then be able to view your award offer. You are required to accept, decline, or reduce the amount offered online. No award letters will be mailed.
Missouri Southern has two disbursement dates, one in the fall and one in spring. After the first disbursement two weeks after classes begin, weekly disbursements will be made for students still completing the financial aid process. After your account is paid, any excess financial aid will be mailed to you by check. An accurate mailing address is essential for this process.
If you are a dependent student, use only the income from the parent you lived with last. If you are an independent student, use only your income.
If they are married as of the day you fill out your FAFSA, you must also use the stepparent information and taxes on your FAFSA.
No. Whatever the student’s marital status on the day the FAFSA is submitted will remain the same throughout the academic year. Changes to student marital status are only permitted through the Professional Judgment petition in the Financial Aid Office. And, are done on a case-by-case basis.
Yes, you are still considered part of their household unless:
You are considered a dependent student for FAFSA purposes if you answer “No” to all Student Dependency Status questions in Section 2 on your FAFSA.
If you are a dependent student, your parent information must be included to determine your eligibility for federal aid. Under very limited special circumstances, a dependent student may have an option to appeal their dependency status. Examples of special circumstances include: parents are incarcerated, you left an abusive family environment, you do not know where your parents are and you have not been adopted. Examples of situations that are not included in special circumstances are: your parents do not want to provide their information, your parents refuse to contribute to your college expenses, your parents do not claim you as a dependent, or you do not live with your parents.
Contact your Financial Aid Counselor at Missouri Southern for more information at (417) 625-9325.
It usually takes approximately 7 – 10 days for MSSU to receive your FAFSA. If additional documents are needed by the MSSU Financial Aid Office, you will be contacted. When the FAFSA is complete and accurate, a counselor will then determine your aid eligibility and post the award in Lionet.
The EFC is the Estimated Family Contribution. You will find this number on your Student Aid Report (SAR) that you get from FAFSA. The EFC is the number that determines Pell Grant eligibility and need. It is an amount of money that FAFSA has determined that your family can afford to contribute to your education even though your family may not contribute anything.
Yes, loans are part of the federal aid program.
A subsidized loan does not accrue interest while you are in school. The federal government pays the interest while you are in school. You only begin accruing interest when you begin making payments six months after you graduate, leave school, or drop below half time.
The unsubsidized loan does accrue interest while you are in school. You have the option of paying the interest as it accrues.
By completing your FAFSA, you will be offered student loans by the Financial Aid Office. Missouri Southern State University is a participant in the Direct Loan Program, and you are not required to complete additional paperwork. Through the Direct Loan Program, MSSU draws loan funds directly from the Department of Education. If you accept a loan and are a first time borrower at MSSU, you will be required to complete a Master Promissory Note (MPN) and Entrance Counseling at: www.studentloans.gov
Any student enrolled in at least six hours (1/2 time), is not in default on a past student loan, and is making satisfactory academic progress..
Loan amounts are determined by your dependency status, your grade level, and amounts you may have borrowed in the past. Generally, these are the loan limits based on grade level:
You begin payments on student loans six months after you graduate, withdraw, or drop below half-time.
No. You may be enrolled in 6 hours or more to receive federal aid, including loans.
Please consult with the MSSU Financial Aid Office at (417) 625-9325 or by email at firstname.lastname@example.org for your specific information. Dropping classes may cause a reduction in your award, cancellation of future disbursements, and/or you may not be eligible to receive future financial aid.
You also may not meet Satisfactory Academic Progress. If you received loans and you drop below half-time, you will begin the grace period for repayment.
Any pending disbursements will be cancelled. You will be placed on Financial Aid Suspension at MSSU. You will not be eligible to receive financial aid in future semesters. If you received loans and you drop below half-time, you will begin the grace period for repayment. You also may not meet Satisfactory Academic Progress. Please also review Withdrawal Information.
Failing part of your classes may affect your Satisfactory Academic Progress and may cause you to lose your financial aid eligibility. Please contact the MSSU Financial Aid Office at (417) 625-9325 or email@example.com for your specific information. If you fail all classes, you will be placed on Financial Aid Suspension and will not be eligible for financial aid at MSSU.