Types of Federal Aid
Federal Pell Grant
The Federal Pell Grant is a "need based" grant awarded to undergraduate students working on a first bachelor's degree. Financial need is determined by the U.S. Department of Education using a standard formula to evaluate the financial information reported on the Free Application for Federal Student Aid (FAFSA), and to determine the family EFC, or Estimated Family Contribution). Please refer to Federal Student Aid for annual minimum and maximum amounts. (You may not receive Pell Grant funds from more than one school at a time.) If a student withdraws or receives a non-passing grade for a class, we must confirm that the student attended at least one class or performed at least one academic activity in that class. If your attendance is not verified in the class for which you withdrew or received a non-passing grade your Pell funding may be reduced.
Federal Supplemental Educational Opportunity Grant
The Federal Supplemental Educational Opportunity Grant (SEOG) is a "need based" grant awarded to undergraduate students, enrolled in a first bachelor's degree program who are eligible for a Pell Grant. SEOG funds are limited so MSU uses the following matrix to select applicants for this award: Student must be full Pell Grant eligible. Of those students who are full Pell Grant eligible we will select those with the highest need. The students are broken down into in-state and out-of-state populations. Once the pool of applicants is identified from the matrix we then make awards based on the submitted date of the FAFSA. Since the funds are limited, not all eligible students will be awarded. The SEOG award (if eligible) will be shown on your Award Notification.
Federal Teacher Education Assistance for College and Higher Education (TEACH GRANT)
The Federal TEACH Grant Program provides financial assistance, through the federal student aid programs, to students while attending college, majoring in an academic program that will allow them to teach in high need subject areas, as highly qualified teachers, at Title I (low income serving) elementary or secondary schools in the United States.
Learn more about Teach Grant Program
Federal Work Study
Federal Work-Study Program (FWS) is a "need based" part-time work program which allows students to earn money to help pay educational expenses. The amount shown on the Award Notification is the maximum amount available to earn on the FWS program. FWS will not be available at registration for the payment of fees. FWS student employees will be paid based upon the current minimum wage twice per month. The maximum award allows student employees to work an estimated 16 hours per week.
Learn more about Federal Work Study
Federal Perkins Loan
Federal Perkins Loan is a "need based", revolving loan fund utilizing both federal and institutional funds. This award is a loan and must be repaid by the borrower. The federal government pays the interest while the student is in school at least half-time, during a nine-month grace period, and during periods of deferment. Federal Perkins Loan awards will only be made through September 30, 2017.
Federal Direct Student Loan Programs
Federal Direct Student Loan Programs are low interest loans that undergraduates, graduates and parents of dependent undergraduates may borrow directly from the U.S. Treasury. They include the Federal Direct Subsidized Loan, the Federal Direct Unsubsidized Loan and the Federal Direct PLUS Loan. These loan programs are designed to help all eligible students and parents, with and without financial need, pay for the student's educational expenses.
- Federal Direct Loan (also referred to as Stafford Loans)
Only eligible students may borrow through the Federal Direct Loan Program. The Federal Direct Loan can be subsidized or unsubsidized depending primarily on the student's demonstrated need. Learn more about the Federal Direct Loan
- Federal Direct PLUS Loan
Only eligible parents of eligible dependent undergraduates may borrow through the Federal Direct PLUS Loan Program. The amount parents may borrow is the student's Cost of Attendance minus the Estimated Financial Aid to be received during the loan period. Learn more about the Federal Direct PLUS Loan. Parent borrower must not have an adverse credit history.
- Direct Grad PLUS Loan
Only graduate or professional student enrolled at least half-time at an eligible school in a program leading to a graduate or professional degree or certificate may borrow through the Federal Direct PLUS Loan Program. Learn more about the Federal Direct PLUS Loan.The maximum loan amount is the cost of attendance (determined by the school) minus any other financial aid received. Student borrower must not have an adverse credit history. Apply Here