Question of the Week Archive
Question: What if I have received all of my federal aid and still do not have enough money?
Answer: The Federal PLUS Loan and the Alternative/Private Loan are educational loans that are options when other federal aid is not available or not sufficient. The Federal PLUS Loan is for eligible parents to borrow on behalf of their dependent student. The Federal Graduate PLUS Loan is for eligible independent graduate students. The Alternative Loans are private (non-federal) educational loans for dependent and independent students. All three loan programs are credit-based and not guaranteed. For instructions on How to Apply, click on the Loan Index button above (top right of this page)..
Question: When will my Fall 2012 refund be available?
Answer: Paper checks will be available starting August 16, 2012 which is Final Registration. However, BulleBuck$ will be available around August 10, 2012 provided you have been awarded, met all of your requirements, and have aid sufficient for a refund. Sign up for BulleBucks$ through myState at https://my.msstate.edu/cp/home/displaylogin.
Question: Should I consolidate my loans after I graduate from Mississippi State University?
Answer: You might want to consider that Federal Perkins Loans (if you have one) are eligible for some service cancellation benefits and once they are consolidated you lose the right to have the loan canceled. For a list of employment areas that are eligible refer to https://www.acs-education.com/CS/Jsp/general/cancellation.jsp or a copy of the Federal Perkins Master Promissory note that you signed when you received the loan.
Also Teachers may be eligible to have a portion of their Stafford Loans forgiven after five years. For more information on Stafford Loan Forgiveness for Teachers refer to http://studentaid.ed.gov/PORTALSWebApp/students/english/cancelstaff.jsp?tab=repaying
If your loans are not eligible for Service Cancellation and you are interested in consolidation you may apply and find more information at https://loanconsolidation.ed.gov/AppEntry/apply-online/appindex.jsp
For a brief period of time (January 17, 2012 through June 30, 2012) borrowers may meet the criteria for a Special Direct Consolidation Loan. For more information go to http://loanconsolidation.ed.gov/help/specialannouncement.html
Question: When will I have my Summer Refund?
Answer: Provided you are enrolled at least 1/2 time (6 hours for Undergraduates, 5 hours for Graduates), eligible for financial aid, and have been awarded Financial Aid sufficient for a refund, the dates are as follows:
- Maymester - May 11, 2012 (afternoon)*
- Summer I and Ten Week Term – May 31, 2012* for paper checks, May 29, 2012* for BulleBucks
- Summer II – July 3, 2012* for paper checks and June 26, 2012* BulleBucks
*Provided you have been awarded, met your requirements, and your hours match
Question: When will the 2012 Summer Request Form be available?
Answer: The tentative date for the Summer Request is April 14, 2012, and it will be available through July 27, 2012. Please make your summer class schedule before submitting the Summer Request Form. The number of hours you are enrolled in must match the number of hours on your Summer Request Form in order for your aid to disburse into your student account.
Question: What is the priority deadline for completing the 2012/2013 FAFSA to be considered for the maximum financial aid package at Mississippi State University?
Answer: March 1, 2012
Question: How do I receive financial aid at MSU if I am a transfer student?
Answer:
- Have your FAFSA results released to MSU
- Make sure that any aid for the current semester is canceled at your previous institution.
- Submit any required documents needed to complete your application. Check your myState for any unsatisfied requirements.
- The federal government requires that we monitor your aid for 7 days (longer if aid is still pending at your previous institution) prior to making disbursements into your MSU student account.
Question: When will my Spring 2012 refund check be available?
Answer: Paper checks will be available starting January 6, 2012 which is Spring Final Registration. However, BulleBuck$ will be available around December 31, 2011 provided you have been awarded, met all of your requirements, and have aid sufficient for a refund. Sign up for BulleBucks$ through myState at https://my.msstate.edu/cp/home/displaylogin
Question: When should I complete the 2012/2013 FAFSA?
Answer: The best time to complete the FAFSA is in February 2012 for the new school year that begins in Fall 2012. Be sure to complete the FAFSA using the IRS Data Retrieval. The IRS Data Retrieval will link your IRS tax return information directly onto the FAFSA for you. This process will save you time and insure that your data is accurate. And, you will not be asked to provide IRS documents to the financial aid office later.
Question: What is the difference between dependent and independent students?
Answer:
- Were you born before January 1st, 1988? (at least 24 years old)?
- Are you working on a master's or doctorate program?
- Are you married?
- Do you have dependents other than your children/spouse who live with you and who receive more than half of their support from you?
- Do you have children who receive more than half of their support from you? (must provide documentation)
- Are both of your parents deceased, or are you (or were you until 18) a ward/dependent of the court?
- As determined by a court in your state of legal residence, are you or were you an emancipated minor?
- As determined by a court in your state of legal residence, are you or were you in legal guardianship?
- Are you an unaccompanied youth who was homeless or at risk of being homeless?
- Are you a veteran of the U.S. Armed Forces?
- Are you currently serving on active duty in the U.S. Armed Forces for purposes other than training?
Question: What is considered a Special Circumstance and how do I file for a Special Circumstance?
Answer: Financial Aid awards may be re-evaluated due to special circumstance. The following are examples of possible special circumstances: divorce of student or supporting parent, death of spouse or supporting parent, loss of income or employment of student, spouse, or supporting parent, excessive and unusual family medical expenses not covered by insurance. All requests to revise your award must include supporting documentation. You must complete the Special Circumstance form. These forms are available by contacting a counselor in the Department of Student Financial Aid at 662-325-2450.
Question: What is the difference between a Subsidized Direct Stafford loan and an Unsubsidized Direct Stafford loan?
Answer:
Federal Subsidized Direct Stafford Loans are "need" based, federally subsidized student loans which have repayment deferred until after you graduate, withdraw or enroll less than half-time. Interest is paid by the federal government until the end of the six-month grace period after you drop to less than half-time enrollment.
Federal Unsubsidized Direct Stafford Loans are "non-need" based, federally unsubsidized student loans which have repayment deferred until after you graduate, withdraw, or enroll less than half-time. You pay all interest on unsubsidized loans and interest begins to accrue once the loan is disbursed. You do have the option to pay the interest while you are in school, or can allow the interest to accrue and have the interest added to the principal amount of the loan. This will increase the total amount you have to repay because you will be charged interest on a higher loan amount. Most students, regardless of need, are eligible for the Unsubsidized Direct Stafford Loan.
Question: What is the last day to apply for MTAG and MESG?
Answer: The deadline to complete the State Aid Application (http://www.mississippi.edu/riseupms/financialaid-state.php) is September 15th.
Any additional documents must be submitted by October 15th.
Question: What is an Overaward and what happens if I have an Overaward?
Answer: Federal and/or State Financial Aid recipients may not receive funds in excess of Financial Need and/or the Cost of Attendance. This may occur when students receive funds from other sources or agencies. When an overaward occurs, the Department of Student Financial Aid is required to adjust the student's financial aid. A student may be required to repay funds due to the loss of eligibility. To prevent an overaward, notify the Department of Student Financial Aid of any assistance you receive that is not listed on your award letter. Examples of other aid include scholarships, military benefits, waivers, assistantships, and Vocational Rehabilation benefits.
Question: When will I be awarded if I was late submitting my Free Application for Federal Student Aid (FAFSA) and/or Alternative Loan Application?
Answer: We have a large number of students who wait to submit their FAFSA or Private/Alternative Loan application until Registration time, resulting in an excessive amount of documents being submitted during Registration. Because of the extra traffic during this time, the process will be slowed somewhat. Be assured you will be awarded as soon as time permits. The files are awarded in the order they are completed, meaning any additional required documents must also be submitted. Please check your myState often in order to either accept your award, or to see if you must submit additional documents.
Question: Can I still start school and attend classes if I have not completed the 2011/2012 Free Application for Federal Student Aid (FAFSA)?
Answer: In most cases you will be able to start school and attend classes. It takes 4-6 weeks to process the federal financial application once your file is complete with the Student financial aid office.
Question: How do get my refund early using Bull-e-Buck$?
Answer: Bull-e-Buck$, a direct deposit process offered by Account Services allows you to manage your refund from the comfort of your computer. You must log in to myState at https://my.msstate.edu/cp/home/displaylogin , click on Banner Tab, then Direct Deposit Bank Information (under Account Information) to enter your bank information, then watch for a credit balance and move to your personal bank account or to MoneyMate. For more info refer to www.controller.msstate.edu/accountservices/refunds/access. You may have access to your refund prior to Final Registration using Bull-e-Buck$.
Question: How will I know if my refund will be available on August 9th 2011?
Answer: Check online to make sure all necessary requirements have been met at https://my.msstate.edu/cp/home/displaylogin
If all requirements have been met, including accepting your awards through myState, signing your MPN (if applicable), and completing an Entrance Counseling Session (if applicable), then check your account detail through myState the morning of August 9th. If you have a negative balance at that time, you can request to have this amount direct deposited into your personal banking account.
Question: Will ACG & Smart Grants be available for Fall 2011/Spring 2012?
Answer: No. ACG & Smart Grants expired on June 30, 2011. The Federal Government is no longer funding these programs.
Question: What is the last day to file a Summer 2011 Request Form?
Answer: July 25th 2011 is the last day to file a 2011 Summer Request Form. Student must have also completed 2010/2011 Free Application for Federal Student Aid (FAFSA) and met other necessary requirements.
Question: When will my Financial Aid refund check for the Fall 2011 semester be available?
Answer: Paper checks will be available August 15, 2011. However, BulleBuck$ will be available by August 9, 2011 provided you have been awarded, met all of your requirements, and have aid sufficient for a refund. Sign up for BulleBucks$ through your OnCampus Portal at https://oncampus.msstate.edu
Question: What are Bull-e-Buck$?
Answer: Bull-e-Buck$ lets you manage your refund from the comfort of your computer. It allows you to have all or a portion of your credit balance electronically deposited to your bank account or transferred (all or in part), to your MoneyMate prepaid spending account. No more long lines and no more long waits. It also allows you to have your refund earlier. For more information, please refer to http://www.controller.msstate.edu/accountservices/refunds/access
Question: When will my MTAG and/or MESG show on my Mississippi State University 2011/2012 award notification?
Answer: The Mississippi Office of Student Financial Aid (MOSFA) determines award eligibility and communicates with students regarding their award status. Once MOSFA notifies Mississippi State University of award eligibility, we immediately post awards to student accounts. State Aid and Federal Aid are not normally posted on the award notification at the same time.
Question: When will my summer money be available if I am only enrolled in the 2nd Summer Term?
Answer: July 1, 2011 for paper checks and June 27, 2011 if you sign up for Bull-e-Buck$ through your OnCampus portal (Provided you have been awarded aid sufficient for a refund, met your requirements, your hours match, and you are enrolled at least half-time).
Question: My Financial Aid has been awarded for summer, why has it not disbursed into my account?
Answer: Your actual enrolled hours must match those indicated on the Summer Request Form. If you have been awarded a loan of any type you must accept your awards online, and you may be required to sign a Promissory Note, complete the Entrance Counseling, or complete the Truth in Lending before your aid will disburse. If you are a first time student at MSU there may also be a temporary monitoring hold. Please check your e-mail and On-Campus regularly for updates and requirements.
Question: What if I am not awarded enough Financial Aid to cover my Summer costs?
Answer: The Federal PLUS Loan and the Alternative Loans are educational loans that are options when other federal aid is not available. The Federal PLUS Loan is specifically for eligible parents to borrow on behalf of their dependent student. The Federal Graduate PLUS Loan is specifically for eligible independent graduate students. The Alternative Loans are private (non-federal) educational loans that dependent and independent students may borrow. All three loan programs are credit-based and not guaranteed. For instructions on How to Apply, click on the Loan Index button above (top right of this page).
Question: When will I be awarded my Summer Financial Aid?
Answer: Applications for Summer 2011 are awarded in the order they were submitted if all eligibility requirements are complete. Please continue to check your award status via your OnCampus using your net ID and password. You will also receive an e-mail via your MSU E-mail account (the account MSU designates for you) once you are awarded. Funds for Summer 2011 are limited because Summer is the end of the 2010/2011 aid year.
Question: When will my Summer Change Request be Reviewed?
Answer: All change requests for Maymester are up to date and will be checked until the end of the term. Change Requests for students enrolled in Summer I will be reviewed starting June 3, 2011 (following the last day to add or drop). Students enrolled for Summer II only who make changes will be reviewed starting July 7, 2011
Question: When will I have my summer money?
Answer: Provided you are enrolled at least 1/2 time (6 hours for Undergraduates, 5 hours for Graduates), eligible for financial aid, and have been awarded Financial Aid sufficient for a refund, the dates are as follows:
- Maymester - May 12*
- Summer I and Ten Week Term – May 27, 2011* for paper checks, May 23, 2011* for BulleBucks
- Summer II – July 1, 2011* for paper checks and June 27, 2011* BulleBucks
*Provided you have been awarded, met your requirements, and your hours match
Question: When should I complete the 2012/2013 FAFSA?
Answer: The best time to complete the FAFSA is in February 2012 for the new school year that begins in Fall 2012. Be sure to complete the FAFSA using the IRS Data Retrieval. The IRS Data Retrieval will link your IRS tax return information directly onto the FAFSA for you. This process will save you time and insure that your data is accurate. And, you will not be asked to provide IRS documents to the financial aid office later.
