Types of Financial Aid
Grants: Aid that does not require repayment or that work be
performed. Eligibility is
based on need, cost of attendance, enrollment status, and the date the FAFSA was
filed for SEOG and OTAG. Additional eligibility requirements apply to the Academic Competitiveness Grant. MSC participates in the following grant programs:
- Federal Pell Grant
- Federal Supplemental Educational Opportunity Grant (SEOG)
- Oklahoma Tuition Aid Grant (OTAG)
- Academic Competitiveness Grant (ACG)
Federal Pell Grant - the foundation of federal financial aid. Grants range from $400 to $4731 per year. It is the only type of funding available to students who enroll less than half-time.
Federal SEOG Grant - awarded to undergraduate students with exceptional need.
OTAG Grant - state grant for Oklahoma residents. Students must demonstrate a need. Limited funding is available so students should apply through the FAFSA by April 30 for maximum consideration.
ACG Grant - grants for students who receive Pell grants, are U.S. citizens, and enroll full-time. Students must have completed a rigorous high school program of study and graduated after January 1, 2005. First year grants are $750 for the year and second year grants are $1300 for the year. Second year students must have completed a minimum of 24 credit hours with a 3.0 cumulative gpa. Students are only eligible for one first year grant and one second year grant.
Loans: Aid provided to students that must be repaid with interest.
Generally, student loans have low interest rates and permit a long-term repayment.
Borrow only what you need and keep track of paperwork. Keep in contact with
your lender so they will always have current information. MSC participates in
the following loan programs:
- Federal Subsidized Stafford Student Loans (government pays interest while
student is in school half-time, in grace period, and in deferment status).
- Federal Unsubsidized Stafford Student Loans (student responsible for interest.
Interest is capitalized).
- Federal Plus (Parent loan)
For more information on loans and the application process, review the loan section
on the Conditions of Award link.
Student Employment: An award for which the student must work.
Money is earned hourly and paid monthly. The maximum amount a student can earn
is determined by financial need and availability of funds. MSC participates
in the following student employment programs:
- Federal College Work-study
- Institutional Work-study
A list of available jobs is posted on the bulletin board outside the Financial
Aid Office. MSC offers a variety of community service employment opportunities
funded through the federal work-study program. These jobs are available in the
Fitness Center, pool, auditorium, pre-school, and tutor positions in family
literacy and America Reads and America Counts programs.
Scholarships: Tuition waiver scholarships are available to
students in good standing who are pursuing degrees. Eligibility for scholarships
is determined based on academic merit, special talent, and need. The student
must be enrolled in a minimum of twelve semester hours. Scholarship applications
(available at download financial aid forms link) must be completed and submitted
to the Financial Aid Office with all supporting documents such as academic transcripts
and ACT scores. The priority funding deadline for scholarships is April 15.
Eligibility requirements are as follows:
| Special Talent |
2.0 gpa or 15 ACT |
| General Academic |
3.0 gpa or 21 ACT |
| Presidents Scholars (PSP) |
21 ACT and admission to the program |
The Financial Aid Director may award need-based scholarships throughout the award year out of unexpended funds. Eligiblity for these need-based scholarships is a 2.0 gpa or 19 ACT.
PSP applicants must submit a typed essay of at least 300 words in which he/she
describes himself/herself with emphasis on the people, places, and experiences
that shaped him/her. As part of the description, the applicant must describe
a significant educational experience.
Additional Aid Sources: There
are other types of assistance available to students who qualify. Some of these
are:
- BIA (Bureau of Indian Affairs) for students of Native American Descent
- Vocational Rehabilitation for students who have physical, mental, or emotional
handicaps
- WIA (Workforce Investment Act) for students such as dislocated workers
- Foundation Scholarships (contact MSC Foundation Office for eligibility
criteria and applications)
- Outside Scholarships. Available from numerous entities such as elks lodges,
churches, employers, Masonic lodges, etc. Students may also use the FASTWEB
option to view scholarship information online at http://www.fastweb.com.
- Veterans Benefits. Contact the Veterans Administration at 1-888-442-4551
for more information.
- US Army Scholarship. For information about the army's $50,000 scholarship
and cash bonuses, call (580) 223-8090 or e-mail 4jlg@usarec.army.mil.
Learn more about the many opportunities available through today's army at
www.goarmy.com.
Financial Aid Links
Downloadable 07-08 Financial Aid Forms
Downloadable 08-09 Financial Aid Forms
Contact Information