Financial Aid and Scholarships

The MSU Billings Financial Aid Process

  What to Do Usual Time Frame
Step 1: Submit a FAFSA (Free Application for Federal Student Aid)
- On the web (
- By mail
Mar 1 - on time
Step 2: FAFSA sent electronically to the colleges listed by the student  
- Web FAFSA 2 weeks
- Paper FAFSA 4 weeks
Step 3: College requests additional information or documents needed to review file 1-2 weeks
Step 4: File goes to REVIEW status and financial aid counselor determines eligibility. 2-4 weeks
Step 5: Award letter sent to student at mailing address in Banner. 1-6 days
Step 6: Student signs and returns award letter to Financial Aid Office 1-30 days
Step 7: Students who accept a loan must sign and submit Promissory Notes as instructed 1-2 weeks
(starting June 1)
Step 8: Register for Classes  
Step 9: Accept charges (bill) with the Business Office prior to semester Aid credits to student's business office account 2 weeks
Step 10: Aid in excess of school charges sent as refund check to student 2-6 days
NOTE: The time estimates listed above require that the school receive a VALID Student Aid Report (SAR). If the school receives a REJECTED SAR, the student is responsible for resolving any omissions or errors, usually missing signatures. The college does not know which students are selected for verification/audit until we receive a valid SAR. At that point we will send the student a letter asking for the necessary signed copies of tax documents. If we receive unsigned tax forms or illegible documents the review process can extend for weeks longer than the time estimates listed above.

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