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.
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.
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)
- Apply for Aid
- Financial Aid Process
- Rights & Responsibilities
- How to Avoid Problems
- Satisfactory Academic Progress Policy Requirements
- Your Financial Award Letter
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.