1. Midwestern State University Financial Aid

2. What is Financial Aid? Scholarships Grants Loans Employment
Money from a source, other than the family, to assist with the cost of attending college, which includes:
Scholarships
Grants
Loans
Employment
Tuition Exemptions

3. www.fafsa.ed.gov 2019-20 FAFSA on the Web available October 1, 20183

4. myStudentAid 2019-20 FAFSA on the APP October 1, 2018
Download the myStudentAid app and complete your FAFSA on your phone/tablet 4

5. SUBMITTING THE FAFSA
Submit a FAFSA® : You are able to file your 2019–20 FAFSA as early as October 1 each year. Income Information: You will provide income information from 2017 income information; you can complete your FAFSA using income information from the IRS Data Retrieval Tool (DRT). Award Notification: Submission of your FAFSA application will allow us to determine your financial aid eligibility earlier as well. AT MSU, we anticipate awarding to begin in mid-February 2019.

6. “FREE Application for Federal Student Aid”
What is the FAFSA?
“FREE Application for Federal Student Aid”
A standard form that collects demographic and financial information about the student and family
Information used to calculate the Expected Family Contribution (or, EFC)
Students must complete FAFSA for each school year
Colleges may set FAFSA filing deadlines
Title IV School Code – MSU is ; other school codes are available from your counselor or the FAFSA online search

7. Tips for the FAFSA
At MSU, the FAFSA address is the Financial Aid Office’s mode of communication with student
Know your school’s PRIORITY deadline date; MSU = January 15 for Fall/Spring
MSU will continue to award through March 1 as priority for most institutional grants.
Utilize the IRS Data Retrieval Tool to download your tax information onto the FAFSA; otherwise, you may be selected for ‘verification’.
The MSU FAO staff will help students complete the FAFSA if you come in to the office with completed taxes and W2 forms. Even if the student is not necessarily going to attend MSU, we use a “good neighbor policy” and can help with the FAFSA for other schools.

8. IRS Data Retrieval Tool (DRT)
Students completing a 2019–20 FAFSA are STRONGLY ENCOURAGED to utilize IRS Data Retrieval Tool Student/parent will transfer 2017 income tax return onto the FAFSA while completing the application. But, income earned from work must be entered manually on FAFSA. NEW: to address privacy and security concerns, the DRT will encrypt the taxpayer’s information and hide the information from the applicant’s view on both the IRS DRT webpage and on the FAFSA webpages. .

9. IRS Data Retrieval Tool (DRT)
Students NOT using the IRS DRT will most likely be selected for ‘verification’ and, if selected, student/parent MUST submit an IRS TAX TRANSCRIPT to the MSU Financial Aid Office. NOTE: copies of signed tax returns cannot be accepted unless a foreign tax return is filed or identity theft has occurred.

10. Submitting Documents to the Financial Aid Office
Be sure to include Student and/or Parent name AND Student’s Mustangs ID # on all paperwork submitted to the Financial Aid Office.
*tax transcripts sent to the Financial Aid Office from the IRS will have redacted Personal Identifiable Information so FAO does not know who the paperwork belongs to!
OR, some colleges/universities will allow you to upload your documents into a secure file which will allow the Financial Aid Office to download the documents for your financial aid file.
* Instructions will be provided by your college of choice.

11. IRS TAX TRANSCRIPT Options
Online – (5-10 calendar days)
Click “Get My Tax Record”
Then click “Get Transcript Online”
NOTE: be sure to request the IRS Tax Return Transcript, NOT the IRS Tax Account Transcript!
By Mail – (5-10 calendar days)
Then click “Get Transcript By Mail”

12. IRS TAX TRANSCRIPT Options
By phone – (5-10 calendar days)
Paper Request Form – IRS Form 4506T (up to 10 calendar days)

13. Signature page needed OR Electronic Signature Option with FSA ID#
Signing your FAFSA
Signature page needed OR Electronic Signature Option with FSA ID#

14. Apply for an FSA ID now! 
You will need a FSA ID to electronically sign your FAFSA. You can also check the results of your processed FAFSA, make corrections to your FAFSA, or print an electronic copy of your Student Aid Report (SAR). Go to to apply. Students and parents of dependent students should apply! Each student must have his/her own FSA ID, but parents can have one FSA ID for multiple, dependent students. FSA ID's do not expire, so student and parent can use the same FSA ID's each year to complete the FAFSA electronically. Provide an address and receive your FSA ID's even quicker!

15. FSA ID login page

16. Dependency Status
Questions on FAFSA determine whose information is required on FAFSA
Student (and spouse)
Student and parents

17. Dependent/Independent Student??? 2019-20 FAFSA
- Born before January 1, 1996? - Married? - Graduate or Professional Student? -Active duty military? - Veteran of the US armed forces? - Have Children who receive more than half of their support from the student? - Have dependents (other than spouse or children) who live with the student and receive more than half of their support from the student? - Orphan, in foster care or ward of the court at age 13 or older? - Emancipated minor by a court in the student’s state of legal residence? - In legal guardianship as determined by a court in state of legal residence? - Homeless or at risk of being homeless as determined by agency specified in FAFSA instructions?

18. Who is NOT a parent? Foster Parents
Legal guardians who have not adopted the student
Relatives (including grandparents) who have not adopted the student
Stepparents who have not adopted the student AND who would be the only person providing parental information

19. Undocumented Students “SB 1528”
This law permits some non-citizens to be classified as Texas residents for financial aid and admission purposes. May receive
In-state tuition
Texas Financial Aid (NOT federal aid)
Application
Submit a Texas Application for State Financial Aid (TASFA) and submit to the financial aid office at the institution for processing
TASFA application is available NOW

20. What is the Expected Family Contribution (EFC)?
*The amount of money a student and his/her family may reasonably be expected to contribute toward the cost of education for an academic year *Stays the same regardless of college you choose, but is calculated with new information each new year you file the FAFSA *Calculated using data from the FAFSA and a pre-set federal formula

21. Definition of Need Cost of Attendance (COA)
Expected Family Contribution (EFC)
________________________________
= Unmet Need
Receipt of additional grants/scholarships can affect awards.
This budget is for a Fall/Spring year for 09/10 academic year.
The Cost of Attendance for 10/11 year is usually available mid-late March.
Once the cost of attendance for the new year is set, this information is updated on the FAO web page.
AGAIN, as mentioned previously, this figure of $17356 is NOT the exact dollar amount you will pay to MSU for example.
This budget includes transportation, personal, miscellaneous, items that do not show up on the bill from MSU. But, every student has these type expenses so they are included in the budget to estimate an overall total cost or help the student to work within a budget for school.
Generally, the only dollar amounts you will pay directly to MSU would be tuition, fees, room & board (if living on campus) and possibly books if the student uses a book voucher.

22. MSU’s Cost of Attendance 2019-20
Off Campus / In Dorm:
Tuition and Fees $9,600
Books and Supplies 1,050
Room & Board ,565
Transportation ,800
Personal/Miscellaneous 1,800
Loan Fee Allowance
TOTAL $23,964
With Parent:
Room & Board ,554
Personal/Miscellaneous 1,035
TOTAL $17,188
This budget is for a Fall/Spring year for 09/10 academic year. The Cost of Attendance for 10/11 year are usually not available until late March. Once the cost of attendance for the new year is set, this information is updated on the FAO web page.

23. Cost of Attendance Estimates
Two-Year College $14,895 Private University $57,610
These amounts are valid as of Fall 2009.

24. Free Money!!!! Does not have to be repaid
Scholarships
Free Money!!!! Does not have to be repaid
Academic Talent Athletic Community Groups

25. MSU Scholarship Considerations
Students admitted to MSU are automatically considered for General Merit scholarships which can range from $500 to $2500 per academic year.
Award consideration is based on SAT/ACT entrance exam scores.
Incoming freshman are encouraged to apply by our priority application date of January 15
At MSU, scholarships will not be awarded after April 1st.
For additional information contact MSU Admissions at or (940) or (800)

26. MSU Scholarship Considerations
Information regarding Athletic scholarships can be obtained from the Head Coach of the particular sport.
Or seek additional information from the academic departments and university Donor Services.
High School Freshmen, Sophomores and Juniors are encouraged to join the MSU Texas “Raise Me” site at

27. Free Money!!!! Does not have to be repaid
Grants and Workstudy
Free Money!!!! Does not have to be repaid
Federal Grants Workstudy State Grants Institutional Grants

28. Federal Grants http://www.mwsu.edu/finaid/teach-grant
Pell Grant = ranges from $657 - $6195 per year for a full-time student. Amount is based on EFC and enrollment status. Student may receive Pell for no more than 6 years!!!!
SEOG Grant = Schools receive limited amount of money; must be Pell-eligible and zero EFC (at MSU).
TEACH Grant = assist students that are seeking degrees in the high need fields of Math, Science, Foreign Language, Bilingual Education, Special Education, Reading Specialist
U.S. Department of Veteran Affairs (GI Bill, Chapter 30, etc...) – Contact MSU Veteran Affairs Office
Award amounts are also based on enrollment levels. Will be adjusted if not enrolled full-time.
ACG: Awarded only to undergraduate students who are Pell Grant eligible; enrolled at least half-time in their first or second academic year of study; and, have graduated from a rigorous high school program of study.  SMART: Awarded only to undergraduate students who are Pell Grant eligible; enrolled at least half-time in their third or fourth academic year of study; major in mathematics, science, technology, engineering or critical foreign languages; and, have at least a 3.0 cumulative grade point average.

29. Federal or State Workstudy
Need-based work program
Typically pays minimum wage, but wage varies at college/university
Student allowed to work up to 20hrs/week and must be enrolled at least half-time
Typically on-campus jobs
Can exclude this income on following year’s financial aid application
Apply early!! Jobs go fast!

30. TEXAS Grant (Toward Excellence, Access & Success)
Need-Based Award for Texas Residents
Must meet state priority FAFSA deadline of March 15
Completed the ‘Foundation’, ‘Recommended’ or ‘Distinguished’ Achievement Program in high school
EFC must be 5875 or less
Enroll at least three-quarter-time in a baccalaureate degree program within 16 months of HS graduation
Not been convicted of a felony or crime involving a controlled substance
“Renewal” TXG awarded if all requirements are met.
A state grant program available to Texas residents who graduated from a Texas high school no earlier than Fall 1998 and completed the recommended or advanced high school curriculum or its equivalent. 
Students entering the program from high school who continue in college and who meet program academic standards can receive awards for up to 150 semester credit hours, until they receive a bachelor's degree, or for five years if enrolled in a 4-year degree plan or six years if enrolled in a 5-year degree plan, whichever comes first.
More info on FAO webpage, or through the Texas Higher Education Coordinating Board at collegeforalltexans.com

31. MSU Mustangs Guarantee Program
Beginning freshman student OR new Transfer student
Pell Grant eligible student
Texas Resident
Must submit FAFSA and have a completed financial aid file (including all verification documents) on/before May 31 (for Fall semester) or December 15 (for Spring semester)
Family’s combined AGI is $50,000 or less
(cont’d)
Mustangs Guarantee Program
Need must be established by filing the FAFSA
Beginning Fall 2010,
Available to beginning freshman students (undergraduate transfer students are not eligible)
Texas residents,
Pell Grant eligible
Have a complete financial aid file on/before April 30, which includes the submission of all required documents if chosen for verification by the federal processor or the MSU Financial Aid Office, including but not limited to:
1.        Completed and signed Verification Worksheet (VW);
2.        Signed copy of student’s income tax return;
3.        Signed copy of parent’s income tax return.
Family's combined annual Adjusted Gross Income (AGI) is $50,000 or less
Will cover the remaining balance of any tuition and mandatory fees (for up to 15 credit hours each semester for up to four academic years- summer terms not included) that are NOT covered by other grants, scholarships (all sources), exemptions, benefits, and/or waiver programs received by the student. 
Additional information available on FAO webpage
To remain eligible for the Mustangs Guarantee Program in subsequent years, students must:
·         Maintain a minimum cumulative grade point average (CGPA) of 2.5 at the end of the spring semester;
·         Submit a completed FAFSA application and return all requested documentation on/before April 30 prior to the beginning of the new academic year;
·         Maintain a combined family Adjusted Gross Income (AGI) of $50,000 or less as reported on the FAFSA;
·         Maintain eligibility for the Federal Pell Grant;
·         Enroll and maintain a minimum of 15 credit hours through the 12th class day of each fall and spring semester; students will be required to successfully complete at least 12 hours at the end of each fall and spring semesters in order to continue in the Mustangs Guarantee Program;
·         Meet and maintain minimum standards of MSU’s Satisfactory Academic Progress.

32. MSU Mustangs Guarantee Program
Covers remaining balance of tuition & mandatory fees (for 15 credit hours or more) that are not paid by other grants, scholarships, exemptions, benefits or waivers
Maintain a minimum of 15 credit hours through 12th class day for each Fall and Spring semester
Earn at least 12 hours AND maintain a cumulative grade point average of 2.0 at end of EACH fall and spring semester.
Available up to 4 academic years (excluding summer terms)
Mustangs Guarantee Program
Need must be established by filing the FAFSA
Beginning Fall 2010,
Available to beginning freshman students (undergraduate transfer students are not eligible)
Texas residents,
Pell Grant eligible
Have a complete financial aid file on/before April 30, which includes the submission of all required documents if chosen for verification by the federal processor or the MSU Financial Aid Office, including but not limited to:
1.        Completed and signed Verification Worksheet (VW);
2.        Signed copy of student’s income tax return;
3.        Signed copy of parent’s income tax return.
Family's combined annual Adjusted Gross Income (AGI) is $50,000 or less
Will cover the remaining balance of any tuition and mandatory fees (for up to 15 credit hours each semester for up to four academic years- summer terms not included) that are NOT covered by other grants, scholarships (all sources), exemptions, benefits, and/or waiver programs received by the student. 
Additional information available on FAO webpage
To remain eligible for the Mustangs Guarantee Program in subsequent years, students must:
·         Maintain a minimum cumulative grade point average (CGPA) of 2.5 at the end of the spring semester;
·         Submit a completed FAFSA application and return all requested documentation on/before April 30 prior to the beginning of the new academic year;
·         Maintain a combined family Adjusted Gross Income (AGI) of $50,000 or less as reported on the FAFSA;
·         Maintain eligibility for the Federal Pell Grant;
·         Enroll and maintain a minimum of 15 credit hours through the 12th class day of each fall and spring semester; students will be required to successfully complete at least 12 hours at the end of each fall and spring semesters in order to continue in the Mustangs Guarantee Program;
·         Meet and maintain minimum standards of MSU’s Satisfactory Academic Progress.

33. Other MSU Grant Programs
“Need” must be established by filing the FAFSA; may be received in addition to, or in place of, the Pell Grant. Funds are limited so awarded as ‘first come-first serve’.
*TPEG Grant
* MSU GOLD Grant
*Student Property Deposit Grant – must be at least half-time *FDR Grant/Scholarship – must be full-time & maintain 3.0 cum gpa *DAR Grant/Scholarship – must be full-time & maintain 2.75 cum gpa *Boren Grant/Scholarship – must be at least half-time.

34. Student Loans Federal Loans State Loans Alternative / Private Loans
Must Be Repaid!!!!
Federal Loans State Loans Alternative / Private Loans

35. Federal Direct Loans Subsidized Unsubsidized Need-based Not need-based
Current Interest:
Fixed – 5.05%
Student responsible for all interest that accrues
(changes each July 1)
Current Interest:
Fixed – 5.05% for loans disbursed after July 1, 2018 Government pays interest while student enrolled at least half time
(changes each July 1)
Repayment begins 6 months after graduation or dropping below half-time enrollment. The “lender” is the Department of Education

36. Annual Loan Limits $3,500 Freshman + $2,000 Unsubsidized
$4,500 Sophomore + $2,000 Unsubsidized
$5,500 Jr. & Senior + $2,000 Unsubsidized

37. Maximum Eligibility Period to Receive SUBSIDIZED Loans
Eligibility period is measured in academic years and student may not receive Direct Subsidized Loans for more than 150% of the published length of the academic program (also referred to as “maximum eligibility period”).
If the student is enrolls in a 4-year bachelor’s degree program, the maximum period for which the student can receive Direct Subsidized Loans is 6 years (150% of 4 years = 6 years).
If the student is enrolls in a 2-year associate degree program, the maximum period for which the student can receive Direct Subsidized Loans is 3 years (150% of 2 years = 3 years).
TIME IS LIMITED!

38. Federal Direct Parent (PLUS) Loans
Loan in Parent’s Name/SSN
Max eligibility can cover up to Cost of Attendance
Based on parent’s credit-worthiness
Current Fixed Interest Rate = 7.60%
Payments begin 60 days after 2nd disbursement
The parent, upon his or her request, can defer payments on a PLUS loan if the student is enrolled at least half time.

39. Federal Direct Parent (PLUS) Loans
If a parent applies for the PLUS Loan and is DENIED due to credit worthiness, the student would then be eligible for an Additional UNSUBSIDIZED Direct Loan: Fr/Soph = in the amount of $4000. Jr/Sr = in the amount of $5000. This $4000/$5000 would be in addition to the initial Subsidized and/or Unsubsidized Direct Loans the student has been offered.

40. STATE & ALTERNATIVE/PRIVATE Student Loans
College Access Loan
ALTERNATIVE/PRIVATE

41. College Access Loan (CAL)
A STATE loan available to Texas students
NOT Need-Based Loan but FAFSA must be filed
Texas Resident
Enroll at least half-time
Student must have a credit-worthy co-signor
Fixed interest rate is determined by the Texas Higher Education Coordinating Board; interest rate is currently 5.3%
Availability of funds is determined by the Texas Higher Education Coordinating Board
CAL:
Provides alternative education loans to Texas students who are unable to meet the cost of attendance.
This loan program is part of the Hinson-Hazlewood College Student Loan Program administered by the Texas Higher Education Coordinating Board (THECB).
Students may borrow an amount up to the cost of attendance less other financial aid
A 3% origination fee will be deducted from the proceeds of each loan if both the borrower and cosigner have a good credit standing
A 5% origination fee will be deducted from the proceeds of each loan if either the borrower or cosigner, but not both has a good credit standing

42. Alternative/ Private Loan
Private consumer loans
Provided without consideration of financial need
Usually a last option after other more economical sources are exhausted
Credit checks are required
Variable interest rate – usually VERY HIGH!

43. Tuition Exemptions/Waivers
An exemption allows an individual to enroll in a Texas public institution while paying a reduced amount of tuition and fees – example Valedictorian tuition exemption, Foster Care exemption, etc.
The State of Texas has authorized more than 30 exemption programs
NOTE: Schools may not participate in all exemption programs; please confirm participation with your school.
Exemptions have different eligibility requirements
For a complete listing and eligibility requirements, see

44. Award Notifications and WebWorld
Awarding Process
Award Notifications and WebWorld

45. 2019-20 Awarding In MSU’s portal (“WebWorld”), students will:
‘Accept’ or ‘Do Not Accept’ Terms and Conditions AND Electronic Consent
Accept or Decline awards; read special award messages.
If loans are accepted, complete student loan process at to include Master Promissory Note and Entrance counseling.
REMEMBER, MSU anticipates awarding to begin in mid-February 2019.
At MSU, we notify the student of their awards via , using the address supplied on the FAFSA. If no address was provided, the student will receive a letter in the mail.

46. Award Notification Process
MSU Awarding will begin mid-February
Award notifications usually contain
Types and amounts of aid offered
How and when aid will be disbursed
Terms and conditions of offer
Students should
Accept or decline (if required)
Sign and return (if required)
Complete student loan process (if applicable)
At MSU, we notify the student of their awards via , using the address supplied on the FAFSA. If no address was provided, the student will receive a letter in the mail.

47. Complete the Loan Process
Students receiving Direct Loans must complete the Direct Loan Entrance Counseling session and the Electronic Master Promissory Note online at Parents start the PLUS application process at this site as well.

48. Disbursement of Financial Aid Awards
At the beginning of each semester, grants, loans and/or scholarships will be disbursed to the student’s university account and deducted from university expenses (tuition/fees and room/meals, if applicable).
If financial aid awards are more than university expenses, the student will receive a ‘refund’ from the Business Office.
If financial aid awards are less than university expenses, the student must pay the difference to the Business Office.

49. Evaluating Aid Packages
*Biggest is not always best –compare to cost of attendance for each school
*Renewable vs non-renewable scholarships
*Loans vs grants
*Terms and conditions of loan(s)
*Balance work with academic responsibilities

50. Family Educational Rights and Privacy Act (FERPA)
The student’s rights under FERPA transfer from the student’s parents to the student when the student attends a postsecondary institution. A student must provide written consent before an education agency or school may disclose personally identifiable information from the student’s education records.
MSU’s “Release of Information” form:

51. MSU’s Short-Term Payment Plans
Installment Contract
Emergency Tuition/Fee Loan
Administered by the MSU Business Office
Book Loan
Administered by MSU Bookstore

52. Monitoring Satisfactory Academic Progress (SAP)
To retain eligibility, financial aid recipients must show academic progress in your program of study. The following will be monitored at the end of every semester:
1. Cumulative Grade Point Average (GPA)
2. Maximum Time Frame for Program of Study
3. Successful Credit Hour Completion Rate
MSU’s current SAP rules are available at
NOTE: At MSU, Financial Aid Warning/Suspension differs from Academic Probation/Warning/Suspension

53. Title IV Refund Calculation “60% Rule”
Students who receive Title IV assistance (Pell Grant, SEOG Grant, TEACH Grant or Student/Parent Loans) and withdraw from the University or cease to attend classes before completing more than 60% of the enrollment period may be required to repay money to these Title IV programs.
Class attendance and participation is IMPORTANT!

54. Helpful Websites www.msutexas.edu – Midwestern State University
– MSU Financial Aid Office
– state-specific information about higher education, financial aid
- federal site regarding student financial aid
Leave this slide up for a minute while second counselor gets ready to go over FAFSA information.
The THECB web page “College for Texans” and “College for all Texans” .com are both the same page. Either web address works.

55. Contact Information:
Midwestern State University Financial Aid Office 3410 Taft Blvd. Wichita Falls, TX (940) (office) (940) (fax)

56. THANK YOU FOR SHARING YOUR DAY WITH US!!!!