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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.

Tuition Waivers: Tuition waivers are available to students in good standing who are pursuing degrees. Eligibility for tuition waivers are determined based on academic merit, special talent, and need. The student must be enrolled in a minimum of twelve semester hours. Tution waiver 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 tuition waivers 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 Administrator may award need-based tuition waivers throughout the award year out of unexpended funds. Eligiblity for these need-based tuition waivers 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:

  • Tribal scholarships for students of Native American Descent
  • Department of Rehabilitation Services 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.

 

Downloadable 09-10 Financial Aid Forms

Frequently Asked Questions