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Need-Based Financial Aid Programs

There are several programs of financial assistance available to help meet the costs of higher education. The majority of the federal and state aid programs are offered on the basis of financial need. Financial need is the difference between the amount of money (family contribution) you and your family are expected to provide towards your college education and the cost of that education. The cost of education minus the family contribution equals your financial need. Eligibility for the following programs can only be determined after a thorough evaluation of the applicant’s family financial status. This evaluation is a result of completing and filing the Free Application for Federal Student Aid (FAFSA).

Federal Pell Grant

This federal program provides grants to eligible undergraduate students and does not require repayment. A Pell Grant for a fulltime student ranges between $639 and $6,345 for the 2020-2021 academic year. The amount received depends upon the family’s calculated financial need. Students attending full-time receive one-half of their Pell eligibility in the fall semester and one-half in the spring semester. Students attending less-than-full-time receive their pro-rated awards in the same manner as full-time students.

The summer semester at MSSU is treated as a trailer to the academic year. Therefore, summer Pell payments will only be made for those students who are enrolled in summer classes and have remaining eligibility from the current academic year.

Federal Supplemental Educational Oppurtunity Grant (FSEOG)

These federal grants are very limited in number and amount. Like the Pell Grant, they need not be repaid. FSEOG awards will be made to applicants with the greatest financial need (as determined by the federal processor). Priority in awarding FSEOG funds will be given to Pell eligible students who have submitted and completed their financial aid paperwork by the priority deadline for the fall semester. In the event that there are additional FSEOG funds remaining, the same process will apply to Pell eligible files completed after the priority deadline. MSSU FSEOG funds are usually depleted before the priority deadline, however, the award process will be adhered to student by student until the funds are exhausted. FSEOG funds that have been awarded to students who do not complete the enrollment process and do not attend, will later be awarded to the next eligible applicant for the upcoming semester.

Federal Work-Study Program

MSSU offers Federal Work-Study on-campus jobs for eligible students that are interested in applying for them. Work-Study is a federally funded program that is designed to help provide jobs for students who have financial need. Students apply for work-study eligibility by completing a FAFSA. Not all students are eligible for work-study. Eligibility is determined based on your financial need. To find out if you are work-study eligible, contact the Financial Aid Office in Hearnes Hall or contact the Student Employment Coordinator.

All work-study jobs are posted online to the Hire-A-Lion network as they become available. The application process for work-study and student employment positions is the same. Work-study eligible students are not guaranteed a work-study position. All students are responsible for securing their own on-campus employment.

Subsidized Federal Direct Loan (Stafford Loans)

This is a federally funded loan program. Repayment begins 6 months after the student leaves school or drops below half-time enrollment (6 credit hours). Annual loan limits are $3,500 for freshman students, $4,500 for sophomore students, and $5500 for junior and senior students. The college encourages students to borrow no more than they reasonably need. Students must be enrolled at least half-time and demonstrate financial need. First-time borrowers at MSSU are required to complete entrance counseling and electronically sign a promissory note prior to fund disbursement.

If you are a first time freshman, your loan funds will not be released until the financial aid office has confirmation from the Registrar’s Office indicating satisfactory attendance for the first 30 days of the semester.

All federal Stafford loan borrowers who have a loan for a single semester will have their loans paid out in two equal disbursements during the semester.

Access Missouri Program

This state of Missouri grant program provides awards to qualified Missouri residents attending participating Missouri colleges on a full-time basis. This state-funded grant to needy undergraduate students does not require repayment. Students indirectly apply for the Access Missouri program when they complete the Free Application for Federal Student Aid. The deadline for applying for these programs is printed in the FAFSA instructions and is generally April 1st of each year. Additionally, renewal students must maintain a cumulative grade point average of 2.5. This grant is available up to 150 attempted credit hours.

Missouri Family Education Loan Program

The Missouri Family Education Loan Program (MOFELP) is a private education loan program that is awarded on a first come, first served basis for eligible, qualified borrowers. Annual loan limits are $5,000 with a 0% interest rate. MOFELP has no additional costs; however borrowers are responsible for a $5 monthly keep-in-touch payment. Below is the general criteria intended for qualified borrowers:

  • Enrolled full-time
  • Making Satisfactory Academic Progress (SAP)
  • EFC of $12,000 or less
  • At least 17 years of age
  • US Citizen
  • Permanent Missouri resident
  • Not have a Bachelor’s degree
  • At least 21 on ACT or 1500 on SAT; or have an overall cumulative GPA of 2.5 or higher earned at the Participating School
  • Not have a Conviction for fraud
  • Two year credit history (or have a cosigner with two year credit history)

* MOFELP criteria may be subject to change.