![]() ![]() ![]() If the 120th credit will be completed within a term, you may receive undergraduate aid for the credits needed to reach 120, with excess credits within the semester not being counted for financial aid purposes. The Office of Financial Aid will monitor aid in the “transition semester” (the semester in which the student earns the 120th credit) and manually pro-rate financial aid using only the credits that bring you to 120 total credits. If you are pursuing an undergraduate degree requiring a higher number of credits, you should contact the Office of Financial Aid to be reviewed as an exception). (Most undergraduate degree programs require 120 credits for the degree. Students in programs 2 and 3 above will be eligible for undergraduate aid only until they have earned their 120th credit. This student must be monitored and eligibility for certain financial aid programs may be restricted. The student may be concurrently admitted to both graduate and undergraduate degree programs, taking both undergraduate and graduate courses, with the two degrees being conferred only when the requirements for both are completed.MSU allows up to 12 credits of graduate coursework to be applied towards a graduate degree, even though the courses are taken while the student is still an undergraduate. The student is admitted to a graduate degree program near the end of their undergraduate program.This student is treated for financial aid purposes as a normal undergraduate student and no special financial aid processing is required. The courses are being used to complete the undergraduate degree. The student is an undergraduate who is taking graduate courses as part of the undergraduate degree program.A student may fall into one of three different categories, and the student's financial aid eligibility will be affected depending upon the category they are in. Some MSU programs allow students to take graduate courses before the undergraduate degree has been conferred. See this chart for information on what aid is available based on your degree category. If a student has been admitted to a second degree program, he or she will be eligible for financial aid consideration as a second undergraduate degree student. If the academic advisor finds that the student has not completed all requirements for the primary degree, the academic advisor should request this information be updated by the Office of Financial Aid by sending an email to explaining the course(s) the student must complete to fulfill the requirements. Students who have completed the coursework for their first degree will be notified via their MSU email accounts that they are no longer eligible for financial aid after the term in which they complete their degree requirements. Financial aid does not pay for coursework for a second major, a minor, or a specialization that is in addition to the requirements for the basic degree. This is true whether or not the student has applied for graduation. Once a student has completed all coursework required to graduate with a satisfactory GPA, the student is no longer eligible for aid for that degree. In general, the amount of all your financial aid cannot exceed your budget, and the amount of your need-based aid cannot exceed your need. Graduate students may also be eligible for a Grad PLUS Loan. After need-based awards have been offered, the remainder of a student's budget may be met with a Direct Unsubsidized Loan or Parent PLUS Loan. Your award notification from MSU will list your eligibility for these programs. ![]() The Office of Financial Aid offers need-based grants (such as the Federal Pell Grant), loans, and work-study to students who are eligible based on the results of their FAFSA. If you suspect that your EFC is incorrect, please review your Student Aid Report (SAR) and correct any errors at. This number is calculated using a formula established by Congress, which takes into account all of the data that you and your parents supply on the FAFSA (Free Application for Federal Student Aid). Your EFC (Expected Family Contribution) is a number that describes how much you (and your parents if you are a dependent student) are expected to contribute towards your educational costs. The maximum amount of need-based aid this student may receive The table below shows an example of this formula:Ī student's estimated cost of attendance for Fall and Spring semesterĭetermined by the results of a completed FAFSA Need is calculated as the difference between your MSU budget and your EFC (Expected Family Contribution). ![]()
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