US Citizens & PErmanent Residents Financial Aid

The primary responsibility for paying for educational expenses rests with the student and the student’s family.

Students are required to notify the Financial Aid Office at MSPP of the receipt of all external assistance.

Late submission of loan applications may delay processing. If your loan check arrives after the tuition due date in September or January as a result of your tardiness, you will be assessed a finance charge on your unpaid balance.

Misrepresentations, omissions of assets, or failure to submit required documentation may result in the cancellation of any financial assistance for which you have applied.

Please keep the Financial Aid Office informed of your current local mailing address.

IMPORTANT! Students who fail to meet deadlines will forfeit their eligibility for MSPP grants and scholarships.

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Types of Assistance

The Financial Aid Office at MSPP administers three types of student financial aid programs: the Federal Family Education Loan Program (specifically Stafford and Graduate PLUS), AlternativeLoan Programs, and MSPP Institutional Aid.

Other sources of educational funding include paid field placements, teaching assistantships, and campus employment. Students should understand that these opportunities are limited in availability.

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Federal Stafford and Graduate PLUS Loans

To apply for a Federal Stafford loan (either subsidized or unsubsidized), the Graduate PLUS loan or MSPP institutional grants (or both) for the 2008-2009 academic year, follow the instructions below:

Submit a Free Application for Federal Student Aid (FAFSA) between January 1 - June 1, 2008. If you are interested in applying for an MSPP grant or scholarship you must file by the deadlines listed below.

The FAFSA should be filed electronically at www.fafsa.ed.gov. Returning students: if you filed online for the 2007-2008 academic year, you will complete the “Renewal FAFSA.” If you are a first-time Stafford borrower, you will click “Fill out a FAFSA.”

To file the FAFSA a completed (or estimated) 2007 Federal Income Tax Return is needed. Please follow the instructions carefully and answer all required questions. If you don't have completed tax forms, estimate and update when forms are completed.

In Step 6 of your FAFSA (or Renewal FAFSA) form, be sure to list MSPP as the school you plan to attend. Our Title IV school code is G02163.

Once your FAFSA form has been processed, you should receive a Student Aid Report (SAR) from the central processing center. Please review your SAR for accuracy. The Financial Aid Office will obtain a copy directly from the processing center.

Remember: Filing a FAFSA is the requisite first step in applying for either Federal loans or MSPP institutional grants.

MSPP Institutional Grants

MSPP grants and scholarships are intended to provide assistance to students who, without such aid, would have difficulty pursuing their education at MSPP.

MSPP grants and scholarships are awarded to eligible students, both U.S. and Interntional students, based on demonstrated financial need as determined via the FAFSA and other documentation submitted and availability of funds.

All applicants for MSPP grants and scholarships (U.S. citizens and Permanent Residents) are required to apply for and receive a Federal Stafford loan. If a student later declines any portion of the Stafford Loan, MSPP reserves the right to rescind the MSPP grant.

To be eligible for MSPP grants and scholarships, students are required to be in good academic standing and registered on a full-time basis (as determined by each program).

The maximum amount of an MSPP grant is currently $5,000.

Grants and scholarships will be awarded in two disbursements, at the end of the drop/add period of each semester.

To apply for an MSPP grant, a student must:

1. 1. Submit a FAFSA (or Renewal FAFSA) at www.fafsa.ed.gov to the central processing agency as soon as possible after January 1, 2008, and no later than:
• PsyD applicants–February 14, 2008.
• MA/CAGS and MA Counseling applicants–February 24, 2007.
• All returning students–April 16, 2008.
2. Submit to the Financial Aid Office at MSPP the following items by the appropriate program deadline:
   1. A completed MSPP Application for Financial Aid for 2007-2008 by:
      • PsyD applicants–February 14, 2008.
      • MA/CAGS and MA Counseling applicants–February 24, 2007.
      • All returning students–April 16, 2008.
   2. A signed copy of your 2007 Federal Income Tax Return complete with all schedules must be submitted to the MSPP Financial Aid Office and w-2’s by April 17, 2008. This deadline applies to both returning students and new applicants.
      
      If you file electronically, you must get a copy from the IRS. If you telefile, we need a copy of your worksheet with confirmation number.

Alternative Loans

To apply for an alternative loan:

1. Apply online, via phone or request a loan application directly from the agency or from the Financial Aid Office at MSPP.
2. Follow the directions that are included with the loan application materials.

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Loan Deferments

Students should obtain deferment forms for previous loans, from the lender or school that originated the loan. Complete the student section of the deferment form and send it to the Registrar’s Office at MSPP. The Registrar will certify your enrollment status at MSPP and forward the form to your lender or prior school. In general, you must be registered on at least a half-time basis (6 credits per semester) in order for loans to be deferrable; for some loans, full-time status (12 credits per semester) is required. Your grace period, terms of repayment, and eligibility for deferment are contingent on the type of loan that you have borrowed.

Note: Loan deferments will not be processed until after a student has registered for classes.

Updated 12/4/07