Applying for Aid

Application Steps

  1. Gather documents to complete FAFSA.
    1. Student, Spouse, and Parent (if dependent) Federal Tax Forms
    2. W-2 Forms
    3. Records of untaxed income
    4. Current bank statements
    5. Records of assets
  2. Obtain a PIN number. Both student and parent may apply for a PIN at http://www.pin.ed.gov. The PIN provides access and allows you to sign the FAFSA electronically. If you provide an email address, a PIN may be obtained within 24 to 48 hours. Do not lose your PIN because it can be used forever.
  3. Complete the Free Application for Federal Student Aid (FAFSA).
    1. You may apply online at http://www.fafsa.ed.gov or a paper application may be obtained by callling 1-(800)433-3243.
    2. Apply each year as soon after January 1 as possible. Programs with limited funding may run out of funds as early as February or March.
    3. MSC school code is 003158.
  4. After you receive the results (Student Aid Report), contact Financial Aid to ensure that all required paperwork is submitted.
  5. Once your file is complete and accurate, you will be awarded.

Required Documents

  1. Results of FAFSA.
  2. Official academic transcripts from all colleges previously attended must be submitted to Registrar Office. Students should submit copies of academic transcripts to Financial Aid Office to avoid processing delays.
  3. MSC Student Data Form (See Downloadable Financial Aid Forms). Required for early awards. This document is waived after the student is admitted and enrolled.

    If selected for verification:
  4. Federal Tax Forms (includes schedules & W2 forms)
  5. Verification Worksheet (see Downloadable Financial Aid Forms)
  6. Worksheets A, B, and C (see Downloadable Financial Aid Forms)
  7. Other documents as requested
Note: All documents must be signed and complete. Submit signed copies of tax forms (include all schedules and W2's) and verification documents. Never submit your original document.

General Eligibility Requirements

Satisfactory Academic Progress Policy
Murray State College has established this Satisfactory Academic Progress Policy using the guidelines required by the Federal Government (CFR 668.16). You must meet all three of the minimum standards indicated below to be eligible to receive financial aid from the Federal Title IV Programs which include: Pell Grant, Oklahoma Tuition Aid Grant, Supplemental Educational Opportunity Grant (SEOG), Academic Competitiveness Grant (ACG), Federal Work-Study, and the Federal Family Education Loan Programs (Subsidized Stafford Loan, Unsubsidized Stafford Loan, and Plus Loan). The following minimum requirements must be met regardless of whether or not the student has received financial aid. The Financial Aid Administrator will determine financial aid eligibility once each academic year at the end of the spring semester. For students on financial aid probation, eligibility will be determined at the end of each semester until the student regains compliance with the requirements of this policy.

1. GPA Requirement:
Hours Attempted: Cumulative GPA:
0 - 30 1.7
Greater than 30 2.0

2. Cumulative Hours Requirement:
For every semester of attendance, a student must complete at least 75% of all coursework attempted as calculated by Financial Aid. Attempted enrollment is determined based on the number of hours the student is enrolled in at the end of the add/drop period each semester (close of business on the 10th class day for Fall and Spring). The add/drop period varies for shorter enrollment periods. Grades of I, U, F, W, and AW will count as courses attempted but not completed with a passing grade. Audit grades do not qualify for financial aid. Should a student receive financial aid for any classes that are later changed to audit, the student will be required to repay any applicable financial aid funds. Remedial courses are counted as hours attempted and must be completed with a passing grade (S) to be counted as hours completed. Please note that the federal law does not provide for academic forgiveness. To determine if the student has completed at least 75% of all classes attempted, divide the hours completed by the hours attempted. Some examples are as follows:
  1. Student attempts 14 hours and completes 11 hours. 11 divided by 14 is 79% and this student has successfully met the requirements.
  2. Student attempts 6 hours and completes 4 hours. 4 divided by 6 is 67% and this student has not met the requirements.
3. Maximum Time Frame:
Murray State College offers two-year associate degrees and certificate programs. Students have a maximum of 96 attempted credit hours in which to complete his/her academic program. Should a student change majors, no additional attempted hours will be permitted unless mitigating circumstances require the allowance of additional time. This is to be determined at the discretion of the Financial Aid Administrator through the appeal process. Students are eligible to receive financial aid for a maximum of two associate degrees at Murray State College.

Probation -- If a student fails to meet the gpa or cumulative hours requirements, he/she will be placed on financial aid probation and receive tentative awards. Final semester grades will be reviewed and students who meet the requirements will be removed from probation. Students who are unable to regain compliance during the probationary semester must at a minimum make a 2.0 GPA for the term and complete 75% of the hours attempted.

Suspension -- Students who fail to meet the minimum requirements during the probationary semester or who reach the maximum timeframe will be suspended. Students on suspension are not eligible for financial aid until he/she again meets the above requirements. Students who have been suspended must request reinstatement in writing once he/she regains compliance. An example of a student who has regained compliance is as follows: Student has attempted a total of 48 hours for all semesters of attendance and completed 36 hours. 36 divided by 48 is 75%. Students who are unable to complete sufficient hours to regain compliance may appeal for reinstatement on probation if he/she successfully completes one semester (must attempt a minimum of 9 credit hours) at his/her own expense (student must pay bill prior to requesting reinstatement).

Appeals - Students may appeal the financial aid suspension by following the steps on the Satisfactory Academic Progress Appeal Form (see Downloadable Financial Aid Forms). The student must document (submit proof) extenuating circumstances he/she feels contributed to the failure to meet the requirements (i.e. death in the family, extended illness, divorce, etc.). The Financial Aid Administrator may grant an additional probationary semester if the circumstances warrant it.

Transfer Students - Students are required to submit transfer grades to the MSC Registrar Office from all schools previously attended. Students may be awarded one semester of aid on probation if transfer grades fall below the minimum requirements of this policy. Only transfer hours that count toward the MSC degree will be included in the maximum timeframe.

Conditions of Awards

You are responsible for knowing this information. The amount of aid awarded is the maximum amount possible based on your need analysis, cost of attendance, and the availability of funds. You are required to notify the Financial Aid Office immediately if you are receiving other aid such as voc rehab, BIA, Veterans Benefits, etc. not shown on the award notice. This aid may not be used for deposits, physical exams or any other fees that you must pay prior to registration. Murray State College has no obligation to make this aid available to you until after classes begin and you are properly admitted, enrolled, and attending classes.

Award Notice: The award notice provides the amount of aid awarded. Awards are based on full-time enrollment and adjustments are made to actual enrollment at the end of the add/drop period (ten days for fall and spring,five days for summer, and two days for shorter terms). You are not required to accept these awards. MSC assumes you accept all gift and grant aid. If you do not wish to accept your aid, you must notify our office in writing. Before loans will be processed, you must complete entrance counseling, enroll ½ time, and submit a completed loan confirmation form. You must notify our office immediately if you are receiving assistance not listed on the award notice.

Disbursement Policies: One-half of the total aid for the school year will be made available to you in the Fall semester and one-half in the Spring. Only one-half of the annual program maximums will be awarded per semester. If you withdraw during the Fall term or do not attend the Fall term, your Spring aid will be cancelled. You must request in writing that Spring aid be reinstated. If your award is made after the semester has begun, you should contact the Business Office 7-10 days after receiving your award notice to see when your funds will be available. You must apply separately for summer aid.

Disbursement Dates
MSC Campus
AHEC
Fall 2007
Spring 2008
Fall 2007
Spring 2008
9-25-2007
2-26-2008
9-27-2007
2-28-2008
Fall 2008 Spring 2009 Fall 2008 Spring 2009
9-23-2008 2-24-2009 9-25-2008 2-26-2009


Student employment paychecks are disbursed monthly, beginning in October. Other funds (OTAG, BIA, etc.) are disbursed when received from respective agencies, normally within two months of beginning of semester. After the initial disbursement each semester, funds received by the second Tuesday of the month will be disbursed to students on the following Friday. MSC reserves the right to insure that all your financial obligations to the College and AHEC are paid before cash disbursements are made.

Disbursement Locations:
MSC Business Office
Admin Bldg. Rm. 204
Tishomingo, OK 73460
580-371-2371 ext. 116		 MSC Administration Building A
611 Veterans Blvd.
Ardmore, OK 73401
580-223-1441


Fast Track CIS Program: Students enrolled in the Fast Track CIS Program are subject to different disbursement dates and award provisions than those covered by this conditions of award notice. Fast Track students should refer to the guidelines provided to them and contact the Financial Aid Office for further details.

LOANS: Your loans have been awarded as the maximum amount you are eligible to borrow. If you wish to borrow a smaller amount, you must indicate this on the Loan Confirmation Form. The Loan Confirmation Form must be completed and returned before your loan will be processed. First-time borrowers at Murray State College must complete the Entrance Counseling before the loan will be processed. Your financial aid file must be complete and accurate and you must have completed entrance counseling and submitted a completed loan confirmation early enough to allow us enough processing time to certify your loan before the end of the loan period.

Loan Requests:
  1. To accept the loan awards, you must complete the Loan Confirmation Form (see Downloadable Financial Aid Forms) and return it to the Financial Aid Office. Review this form (front and back).
  2. First-time MSC borrowers must complete entrance counseling before the loan will be processed.
  3. You must enroll at least half-time (6 credit hours) before the loan will be processed.
  4. Your file must be complete and accurate and you must have completed entrance loan counseling and submitted a completed loan confirmation form in a timely manner so your loan may be certified before the end of the loan period. The federal government will not permit us to certify student loans after the end of the loan period.
  5. You must choose a lender. Murray State College does not provide a preferred lender list. You may choose any guarantor and lender combination that participates in the loan program. Lenders offer different benefits and levels of service. Some of the things you should consider when choosing a lender are:
    1. availability of toll-free phone number
    2. amount of origination and default fee charged to borrower
    3. repayment benefits such as interest rate reductions for auto debit and on-line payments as well as timing of these benefits.
    4. customer service
    5. whether the lender uses a servicer or sells loans prior to repayment.

If you want to see a list of lenders chosen by MSC students last year, click on the following link: MSC 2007 Lender List

Loan Process:
  1. Financial Aid Office awards loan.
  2. Student submits completed Loan Confirmation Form, completes entrance counseling, and enrolls half-time.
  3. Financial Aid Office certifies loan electronically.
  4. Financial Aid Office sends letter to student informing him/her that the promissory note is available online.
  5. Student must complete online note within 15 days. After 15 days, the note is no longer available online and a paper promissory note is mailed to the student.
  6. Student completes promissory note (either paper or online), signs the note, and sends it to the lender. Students need only complete one master promissory note for all loan advances but must complete a new Loan Confirmation Form to receive additional loan advances.
  7. Loan is disbursed by the terms of the Notice of Loan Guarantee and MSC Conditions of Award.
Entrance & Exit Counseling: New student borrowers at MSC must complete Entrance Counseling before loans will be processed. Student loan borrowers must complete Exit Counseling when he/she graduates, transfers to another school, or drops below ½ time (6 credit hours) enrollment. The Entrance and Exit Counselings may be completed online at the following links: Follow the instructions carefully, complete all sections, and print the confirmation page for your records. The counseling session will be submitted to the MSC Financial Aid Office upon completion. Questions may be emailed with the session and will be responded to within 24 hours. Loan borrowers must submit a completed loan confirmation form for each loan advance but are only required to complete one master promissory note if using the same lender and enrollment is continuous. Loan borrowers whose student loans have been electronically certified by MSC may complete and print an online promissory note by clicking on the following link: Online promissory notes must be completed within 15 calendar days. Borrowers are notified when the online note is available. After the 15 day period, a pre-printed promissory note will be mailed to borrowers who do not complete the online note.
You may request cancellation of your student loan at any time prior to receiving the funds or up to 14 days after the disbursement by requesting cancellation in writing. The U. S. Department of Education has created the Office of the Ombudsman for Student Loans to assist borrowers in resolving student loan problems. The Ombudsman may be reached at the following:

Office of the Ombudsman, Student Financial Assistance
U. S. Department of Education, Rm 3012, ROB #3
7th and D Streets, SW
Washington, DC 20202-5144
Phone: 1(877)557-2575
Internet: http://ombudsman.ed.gov

Federal Work-study: A Work-Study award does not automatically guarantee that you will have a job. A list of available positions is posted on the Bulletin Board outside the Financial Aid Office. Community Service positions are available for students desiring to work in community service. You must have completed a work-study packet (see Downloadable Financial Aid Forms or obtain a packet in the Financial Aid Office) and received a valid work permit to obtain a job. A valid work permit and completed Student Appointment Form (see work-study supervisor) must be submitted before you may begin working.

Scholarships: Scholarship awards are initially granted for the Fall and Spring; however, retention of scholarship is based on recipient's retention/graduation grade point average. If you are receiving a scholarship, check with the Financial Aid Office for retention criteria. Scholarship applications for Resident Tuition Waiver, Non-resident Tuition Waiver, AHEC Tuition Waiver, and Employee/Spouse/Child of Employee Tuition Waiver are available in the Downloadable Financial Aid Forms section.


Withdrawal and Payback of Funds

You Withdraw – You Owe!!

Sometimes students need to completely withdraw from classes due to emergencies or other problems.  Regardless of the reason for withdrawal, the federal government requires that students who withdraw before the 60% point of the semester repay federal funds received.  This federal law is called Return of Title IV Aid.

Students who withdraw from MSC classes – officially or unofficially (stop attending classes or fail to receive a single passing grade for the term) will be charged for any amount that Murray State College is required to return to the Federal programs and may be required to return funds he/she has already received.

Students who withdraw before the end of the add/drop period (two weeks for Fall or Spring and two days for shorter terms) or who withdraw after the end of the 60% point will not have to repay aid received.

To avoid repaying funds, students must attend through the 60% point which is through the following dates:

Fall 2008 semester Spring 2009 semester   
October 28, 2008 April 6, 2009
Fall 2007 semester Spring 2008 semester
October 22, 2007 March 28, 2008

Here is an example of what happens if you withdraw before these dates:
            
A student receives a Pell grant of $1875 and a Subsidized Stafford loan of $1000 for a total amount of federal aid of $2875.  The student’s tuition and bookstore charges for the semester total $1000.  If the student withdraws after completing only 30% of the semester (approximately the 5th week of classes), the student must return approximately $2013 or 70% of the funds.  MSC will refund the federal aid programs which will result in the student owing the college.  Amounts the student owes the federal loan programs will be repaid to the lender according to the terms of the promissory note.
 
Contact the MSC Financial Aid Office or the Associate Financial Aid Director at AHEC before withdrawing.  Thinking about the timing of withdrawal will affect the amount of money you owe.  This law only pertains to complete withdrawal (not dropping individual classes).  However, any change in enrollment after the end of the add/drop period will affect your academic progress and your continued eligibility for financial aid.



Consortium Agreements
The Federal government will only allow students to receive financial aid from one school at a time. Students who are taking classes from more than one school at a time must decide which school they plan to receive their initial degree at and seek financial aid only from that school. The degree-granting school may be able to provide financial aid for classes taken at the other school through a consortium agreement (see Download Financial Aid Forms). The student should complete Section A of the form and send it to the school that will not be providing financial aid for completion of section B. The other school will forward it to the degree-granting school. The student is responsible for insuring that the degree-granting school receives the completed consortium agreement in a timely manner (prior to the end of the add/drop period each semester).


Financial Aid Links


Types of Financial Aid
Applying for Aid
Downloadable 07-08 Financial Aid Forms

Downloadable 08-09 Financial Aid Forms

Contact Information