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APPLYING FOR FINANCIAL AID

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Application Steps

  1. Gather documents to complete FAFSA.
    1. Student, Spouse, and Parent (if dependent) Federal Tax Forms for the most recent tax year
    2. W-2 Forms for the most recent tax year
    3. Records of untaxed income
    4. Current bank statements
    5. Records of assets
    6. Social Security Number
    7. Driver's License (if any)
  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 and do not share your pin with anyone.
  3. Complete the Free Application for Federal Student Aid (FAFSA).
    1. You may apply online at http://www.fafsa.gov or a paper application may be obtained by calling 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. Submit official academic transcripts from all schools previously attended to the MSC Registrar Office. 
  6. Once your file is complete and accurate, and you are properly admitted and enrolled at MSC, 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 official academic transcripts to Financial Aid Office to avoid processing delays.

    If selected for verification (View Verification Policies for more information):
  3. Federal Tax Transcripts (includes schedules & W2 forms) or use the IRS Data Retrieval Tool at http://www.fafsa.gov
  4. Verification Worksheet (see Downloadable Financial Aid Forms)
  5. Other documents as requested

Note: All documents must be signed and complete.  Never submit your original document.  Colleges are no longer permitted to accept copies of tax forms.  Students and parents should use the IRS Data Retrieval Tool at www.fafsa.gov or obtain an IRS Tax Transcript.

General Eligibility Requirements

  • Must have documented need.
  • Must enroll as a regular student in an eligible program. Must be seeking degree at Murray State College.
  • Must be a U.S. citizen or an eligible non-citizen.
  • Must be making satisfactory academic progress.
  • Must be registered with Selective Service, if required.
  • Must sign a Statement of Educational Intent, promising to use the aid only for school related expenses -- this statement is included in the Free Application for Federal Student Aid (FAFSA).
  • Must sign a statement that no refund is owed on any educational grant and that he/she is not in default on any student loan -- included on FAFSA.
  • Must have a High School Diploma, GED, or been home schooled.  Students who do not have a High School diploma, GED, or been home schooled should contact the MSC Financial Aid Office for assistance.
  • Must be attending class.


Satisfactory Academic Progress Policy

Murray State College has established this Satisfactory Academic Progress Policy using the new guidelines required by the Federal Government (CFR 668.34).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, Supplemental Educational Opportunity Grant (SEOG), Iraq Afghanistan Service Grant, Federal Work-Study, and the Direct Loan Programs (Subsidized Stafford Loan, Unsubsidized Stafford Loan, and Plus Loan).  This policy also impacts state programs such as the Oklahoma Tuition Aid Grant Program (OTAG) and Oklahoma Promise. The following minimum requirements must be met regardless of whether or not the student has received financial aid.

1. GPA Requirement:  2.0 cumulative gpa

2. Cumulative Hours Requirement (PACE):  70% of all coursework attempted

3. Maximum Timeframe:  96 credit hours for first MSC associate degree; additional 40 hours allowed for 2nd MSC associate degree

Satisfactory Academic Progress (SAP) Evaluation:

1.  The Financial Aid Administrator will evaluate SAP at the end of each academic year.
2.  The MSC academic year is Fall and Spring with the subsequent Summer as a trailer.
3.  For students attending Fall/Spring/Summer, Spring/Summer, or Summer only, SAP is evaluated at the end of the Summer term. 
4.  For students attending Fall/Spring or Spring only, SAP is evaluated at the end of the Spring term.
5.  For students attending Fall only, SAP is evaluated at the end of the Fall term.
6.  For students on financial aid probation or an Academic Plan, SAP is evaluated at the end of each semester.

PACE:

1.  PACE is calculated by dividing the cumulative number of hours successfully completed by the cumulative number of hours attempted.  Some examples of PACE are: 

 
  • Student attempts 14 hours and completes 11 hours.  11 divided by 14 is 78% and the student has successfully met the PACE requirement.
  • Student attempts 6 hours and completes 4 hours.  4 divided by 6 is 66% and the student has not successfully met the PACE requirement.

2.   Students must complete 70% of coursework to meet the PACE requirement.
3.   Hours attempted is based on the number of hours enrolled in at the end of the 100% refund period (close of business on the 10th day of Fall and Spring and the 5th day of Summer). The refund period varies for shorter enrollment periods.
4.   Grades of A, B, C, D, S, and P are counted as hours successfully completed.
5.   Grades of I, U, F, N, W, and AW are counted as hours attempted but not successfully completed.
6.   Remedial courses are not counted in either PACE or the maximum timeframe and are not calculated in the gpa.
7.   Audit courses are not eligible for financial aid and are not counted as hours attempted.
8.   All classes attempted at all institutions are counted in the PACE and maximum timeframe.
9.   For repeated courses, only the second and any subsequent attempts are counted (Refer to repeat course policy in the MSC catalog).
10. To properly monitor your SAP progress, manually count all credit hours attempted and earned as your academic transcript may not accurately count withdrawals, etc.

Maximum Timeframe:

1.  Students have a maximum of 96 attempted hours to complete the first MSC associate degree.
2.  Students have a maximum of 40 additional hours beyond the first MSC associate degree to complete a second MSC associate degree.
3.  Students are only eligible to receive federal financial aid for two associate degrees at MSC.
4.  Students planning to transfer to a four-year school and pursue a bachelor's degree need to be aware of the federal maximums on the various programs to ensure they don't run out of eligibility before completing their bachelor's degree.
5.  Students transferring to MSC with hours in excess of 96 will be placed on financial aid suspension.  Students on financial aid suspension may submit an appeal.
6.  Major changes do not automatically extend the maximum timeframe.  However, they may be considered as a mitigating factor during the appeals process.. The Financial Aid Appeals Committee will determine if additional time is warranted.
7.  For appeals of the maximum timeframe, Financial Aid will request a degree check.

Probation and Academic Plans:

1.  Financial aid probation is a status assigned to a student who fails to make satisfactory academic progress and who has appealed and has had eligibility for aid reinstated.
2.  Students on financial aid probation must meet all the requirements of the Satisfactory Academic Progress Policy at the end of the probationary semester or they will be placed on financial aid suspension.
3.  The Appeals Committee may place a student on an Academic Plan to ensure the student is able to meet the SAP requirements by a specified point in time.
4.  SAP will be reviewed at the end of each semester for students on Academic Plans.   As long as the student meets the minimum requirements of the Academic Plan, the student will remain eligible for financial aid.  If the student fails to meet the minimum requirements of the Academic Plan, the student will be placed on financial aid suspension.

Suspension:

1.  Students on financial aid suspension are not eligible to receive financial aid from the following federal programs:  Pell Grant, Supplemental Educational Opportunity Grant (SEOG), Iraq Afghanistan Service Grant, Federal Work-study, and the Direct Loan Programs (Subsidized Stafford Loan, Unsubsidized Stafford Loan, and PLUS Loan).
2.  Students on financial aid suspension are not eligible to receive financial aid from the following state programs:  Otag and Oklahoma Promise.
3.  Students who fail to meet all the requirements of the SAP policy will be placed on financial aid suspension.
4.  Students who fail to meet the SAP requirements at the end of a probationary semester will be placed on financial aid suspension.
5.  Students who fail to meet the minimum requirements of an Academic Plan will be placed on financial aid suspension.
6. Students on financial aid suspension may regain aid eligibility if their financial aid appeal is approved.
7.  Students may regain aid eligibility by taking courses and meeting all of the SAP requirements.  Students must request reinstatement in writing when the student has regained compliance with SAP.

Appeals:

1.  Students may appeal financial aid suspension by following the steps on the MSC Satisfactory Academic Progress Appeal Form.
2.  The student must document (submit proof) any extenuating circumstances the student feels contributed to the failure to meet SAP requirements.  The student must also indicate what has changed that will allow the student to successfully meet the SAP requirements at the end of the next evaluation.
3.  Some examples of extenuating circumstances are:  death of an immediate family member, extended illness, divorce, etc.  Some examples of proof of extenuating circumstances are:  copy of a death certificate, letters from doctors, hospital discharge papers, copy of a divorce decree, etc.
4.  Appeals are reviewed by the Financial Aid Appeals Committee.  The committee's decision is final.
5.  Incomplete appeals will not be submitted to the Financial Aid Appeals Committee.
6.  The Financial Aid Office will notify the student of the decision of the Financial Aid Appeals Committee.
7.  If the appeal is approved, the student will be required to meet with the Financial Aid Administrator to review any conditions of the appeal or Academic Plan before financial aid will be awarded/disbursed.
8.  The federal government does not permit back to back appeals for the same extenuating circumstance.
9.  Appeals cannot be approved for semesters that have already ended.
10. For appeals of the maximum timeframe, Financial Aid will request a degree check.

Transfer Students:

1.  Transfer students must submit official transcripts from all institutions to the MSC Registrar Office.
2.  All transfer hours from accredited colleges accepted by the Registrar Office will be transcripted on the MSC transcript and will count toward gpa, PACE and maximum timeframe.  Financial aid eligibility will not be determined until all official transcripts have been submitted to the MSC Registrar Office.
3.  Students with transfer hours that do not meet the standards of the MSC Satisfactory Academic Progress Policy will be placed on financial aid suspension.
4.  Students with transfer hours in excess of the maximum timeframe will be placed on financial aid suspension.

 

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, annual and aggregate maximums, and the availability of funds. You are required to notify the Financial Aid Office immediately if you are receiving other aid such as Rehabilitation Services, Tribal Scholarships, 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 for Fall and Spring and half-time for Summer. Adjustments are made to actual enrollment at the end of the 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 half-time, and submit a completed loan request form. You must notify our office immediately if you are receiving assistance not listed on the award notice.  If you withdraw during the Fall term or do not attend the Fall term, you Spring aid will be cancelled. 

Disbursement Policies: 

Financial aid may not be used for deposits, physical exams or any other fees that must be paid prior to registration.  Murray State College has no obligation to make this aid available until after classes begin, and the student is properly admitted, enrolled, and attending class.  Please review the disbursement date link for a list of the financial aid disbursement dates.

Student employment paychecks are disbursed monthly.  Properly completed timecards are due in the Financial Aid Office on the 15th of each month and student employment paychecks will be available at the end of each month. Other funds (OTAG, BIA, etc.) are disbursed when received from respective agencies, normally within two months of beginning of semester. MSC reserves the right to insure that all your financial obligations to the College and UCSO are paid before cash disbursements are made.

Disbursement Locations:

MSC Business Office
Student Services Building

Tishomingo, OK 73460
580-371-2371 ext. 116
MSC Administration Building A
611 Veterans Blvd.
Ardmore, OK 73401
580-223-1441

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 Request Form.  The Loan Request Form and Master Promissory Note must be completed before your loan will be processed.  Borrowers are required to complete loan entrance counseling before a student loan will be processed.  In an effort to increase our borrowers knowledge, beginning with Fall 2014, first-time MSC borrowers will be required to complete enhanced entrance counseling and all borrowers will be required to complete entrance counseling/financial literacy counseling on an annual basis. Your financial aid file must be complete and accurate and you must have completed entrance counseling, submitted a completed loan request, and completed Master Promissory Note early enough to allow us enough processing time to originate your loan before the end of the loan period.

Loan Requests:

  1. To accept the loan awards, you must complete the Loan Request Form (see Downloadable Financial Aid Forms) and return it to the Financial Aid Office. Review this form (front and back).
  2. Borrowers must complete entrance counseling and Master Promissory Note before the loan will be originated.
  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, submitted a completed loan request form , and completed a Master Promissory Note in a timely manner so your loan may be originated before the end of the loan period. The federal government will not permit us to originate student loans after the end of the loan period.

Loan Process:

  1. Financial Aid Office awards loan.
  2. Student submits completed Loan Request Form, completes entrance counseling, completes Master Promissory Note, and enrolls half-time.
  3. Financial Aid Office originates loan electronically.
  4. Loan is disbursed by the terms of the Notice of Loan Guarantee and MSC Disbursement date schedule.

Entrance & Exit Counseling: 

Borrowers 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 half-time (6 credit hours) enrollment. The Entrance and Exit Counseling sessions 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.  Students who do not have access to complete the online sessions may contact the Financial Aid Office to schedule an in-person counseling session. Loan borrowers must submit a completed loan request form for each loan advance but are only required to complete one master promissory note with the Department of Education if enrollment is continuous. Loan borrowers may complete and print an Online Promissory Note at the following link:

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 written cancellation request must be submitted to either the MSC Business Office or the MSC Financial Aid Office.  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:

U. S. Department of Education
FSA Ombudsman Group
830 First Street, NE, Mail Stop 5144
Washington, DC 20202-5144
Phone: 1(877)557-2575
Fax:  202-275-0549
Internet: http://ombudsman.ed.gov


Federal Work-study:

A work-Study award does not automatically guarantee that you will have a job.  Contact the Financial Aid Office for a list of available positions.  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.  Student employees are paid monthly.  Properly completed timecards are due in the Financial Aid Office on the 15th of each month and paychecks are provided by the Human Resource Office at the end of each month.  Most MSC work-study jobs are 15 hours per week.  The pay rate is $9 per hour.

Tuition Waivers:

Tuition Waiver awards are initially granted for the Fall and Spring; however, retention of tuition waiver is based on recipient's retention/graduation grade point average. If you are receiving a tuition waiver, check with the Financial Aid Office for retention criteria. Tuition waiver applications for Resident Tuition Waiver, Non-resident Tuition Waiver, MSC-Ardmore Tuition Waiver, Senior Citizen Tuition Waiver, Employee/Spouse/Child of Employee Tuition Waiver, etc. are available in the Downloadable Financial Aid Forms section.  With the exception of the Non-resident Tuition Waiver, all other waivers require that the student be an Oklahoma resident.

Withdrawal and Payback of Funds

Refund Policy for Tuition and Fees
First ten days of a regular semester 100%
First five days of an 8-week semester 100%
First two days of a shorter term 100%
Thereafter: No Refund

Official Withdrawal Process
To officially withdraw from all courses, students must notify the MSC Registrar Office in writing.

Return of Federal Financial Aid for Complete Withdrawal
Federal financial aid funds are awarded to students under the assumption that the student will attend school for the entire period for which the aid is awarded. 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 receiving federal financial aid who completely withdraw from all classes officially or unofficially (stop attending classes or fail to receive a single passing grade for the term) will be subject to the Return of Title IV Funds policy. This policy applies to students receiving assistance through the Federal Pell Grant, Federal Supplemental Education Opportunity Grant, Iraq Afghanistan Service Grant, Federal Subsidized Direct Stafford Loan, Federal Unsubsidized Direct Stafford Loan, and Federal Direct PLUS loans.

Students who withdraw before the end of the drop period (refer to Refund Policy for Tuition and Fees) or who withdraw after the end of the 60% point will not have to repay federal aid received.

When a student officially withdraws, the Registrar Office will notify the Financial Aid Office. The withdrawal form gives the Financial Aid Office the official withdrawal dates. The Financial Aid Office determines the institutional charges, aid disbursed, and the aid that could have been disbursed. Institutional charges include tuition and fees, on campus room and board, and required books and supplies. At the end of each semester the Financial Aid Office will determine those students who unofficially withdrew (ceased class attendance and did not receive a passing grade in any of their courses) and use the 50% point to calculate the amount of aid to return to the federal programs unless the student proves attendance past the 60% point in the semester while it is still possible to reverse the return of aid to the federal program.

After determining a students' withdrawal date (official or unofficial) the Financial Aid Office will use the U. S. Department of Education's Return of Title IV software on the web to determine if the amount of aid disbursed to the student is greater than the amount of aid the student earned. Any unearned funds must be returned to the federal student aid programs. If at the time of withdrawal the amount disbursed to students is less than the amount earned, the student may be eligible to receive a post-withdrawal disbursement. If eligible for a post-withdrawal disbursement, the student will be notified by mail and will have 14 days to respond and approve or deny the post-withdrawal disbursement.

The Return of Title IV calculation uses the number of days enrolled divided by the number of days in the term to get the percentage of aid earned. Students who remain enrolled beyond the 60% point of the period of enrollment are considered to have earned 100% of aid received. Students enrolled less than 60% of the period of enrollment are responsible for repaying the aid. Here is an example of what happens if you withdraw before the 60% point:

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 students tuition, fees, room, board, and bookstore charges for the semester total $3000. If the student withdraws on the 25th day of a semester that has 121 days, approximately $2300 or 80% of the funds would have to be repaid.

Once the Return to Title IV calculation has been completed, MSC will return the unearned portion to the federal aid programs in the following order:

1. Unsubsidized Federal Direct Stafford Loans
2. Subsidized Federal Direct Stafford Loans
3. Federal Direct PLUS loans
4. Federal Pell Grants
6. Federal Supplemental Educational Opportunity Grants
7. Iraq Afghanistan Service Grant

Murray State College must complete the Return of Title IV process within 45 days of the date of a student's withdrawal.

Contact the MSC Financial Aid Office before withdrawing. Thinking about the timing of withdrawal will affect the amount of money that must be returned. If MSC is required to return unearned funds due to a student's withdrawal, the student may have a balance due to MSC. 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 academic progress and 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 drop period each semester).  The student is also responsible for paying charges incurred at the school the student is not receiving aid from out of the funds received from the degree-granting school.

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