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The MSU Billings Financial Aid Office administers federal, state,
and institutional aid programs designed to help eligible students
pay for their educational expenses. Amounts of funding vary and
depend upon the student's demonstrated and verified financial need
as well as the amount of funds available. A formula mandated by
Congress, known as the Federal Methodology, evaluates each family's
financial circumstances and arrives at the expected family contribution.
Financial need is determined by subtracting the family contribution
from the cost of attendance.
Students who apply for financial aid are considered for all aid
programs for which they are eligible. Assistance is offered in the
form of the following:
- Grants, scholarships, waivers - do not have to be paid back
- Long-term loans - must be repaid after the student leaves school
- Employment opportunities - programs where students work on
or off campus and earn money to help pay school expenses
Both undergraduate and graduate students must apply for financial
aid on the FAFSA application. The school code is 002530.
Assistance for graduate students is generally limited to long-term
loans and employment opportunities. A limited number of scholarships,
waivers, teaching and graduate assistantships are also available
and require a separate application through the Office of Graduate
Studies and Research.
In order to receive financial aid the student must…
- have financial need, except for some loan programs
- have a high school diploma, GED, or pass an ability to benefit
test
- be a citizen or permanent resident of the United States
- be enrolled or accepted for enrollment as a regular student
working toward a degree or certificate
- not be in default on a student loan or owe a Title IV refund
or repayment
- have a valid Social Security Number
- make satisfactory academic progress
- register with the Selective Service, if required
- priority consideration is given to students who apply before
the University financial aid priority filing date of March 1 of
the preceding year (i.e., March 1, 2002 for the academic year
beginning September 2002)
Cost of attendance is addressed
on another page, however, students' expenses will vary according
to such things as residency status and living arrangements. In estimating
your University costs, remember not to overlook between-semester
expenses. The financial aid award year begins with Fall term and
includes the following spring and summer semesters, however financial
aid does not include expenses between semesters.
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Remember, policies and procedures governing financial aid programs
and application filing dates at MSU Billings are subject to change
at any time without prior notification or publication due to changes
in University, state, and/or federal guidelines and regulations.
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