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Prospective Students > Undergraduate > Getting Started > Paying for college > Financial Aid/Scholarship > Financial aid > Financial Aid Frequently Asked Questions
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FAFSA School Code = 001977
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Office of Financial Aid/Scholarship
Murray State University
500 Sparks Hall
Murray, KY 42071-3312
(800) 272-4678, ext 3
(270) 809-3116 fax
Office Hours University closure dates
Monday - Friday
January - May
8:00 am - 4:30 pm CST
June - July
7:30 am - 4:00 pm CST
August - December 8:00 am - 4:30 pm CST
To apply for the Federal Perkins Loan, Federal Direct Subsidized Loan, Federal
Direct Unsubsidized Loan, Nursing Loan, Federal Supplemental Educational
Opportunity Grant, Federal Pell Grant, and Federal Work-Study, please complete the Free Application for Federal Student Aid (FAFSA) or the Renewal
Free Application for Federal Student Aid and mail it to the federal processor or
complete online at www.fafsa.ed.gov.
We urge you to complete the FAFSA application after January 1. All
available awards will be considered to determine your maximum financial aid
eligibility. Our office encourages all students to apply as soon as possible starting January 1 to be considered for funding that is limited.
If you are in your senior year of high school or if you are a transfer
student you are already eligible to apply. You do not have to be accepted at
Murray State University to apply for aid. But you will, of course, have to be
enrolled in school before you actually receive your financial aid.
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Your family is considered your main source for
your college education. One goal of the Student Financial Aid/Scholarship Office
is to compare the costs of attending Murray State with the financial
contributions, if any, that will be made by you and/or your family. This is done
by finding the difference between the total cost of attending school and the
ability of your family to help with the costs. The basis for determining need is
the processed financial aid form. Financially independent students will file
using their own income-assets information and that of their spouse, if
applicable. Costs include room and meals, registration fees, books and supplies,
personal expenses and travel. In determining your, your family’s, or your
spouse’s capacity to help, the following are considered:
Financial Aid Eligibility
The main factor of eligibility is your financial need. All students,
regardless of family income level, are encouraged to apply. By comparing the
cost of attending Murray State University with your and your parents’ ability to
finance your education, your need is evaluated. The Student Financial Aid Office
then tries to meet that need. The information for making that decision comes
from the Student Financial Aid Application and the FAFSA or other forms.
Enrollment in a program of study abroad, approved for credit by Murray State,
may be considered enrollment for purposes of applying for federal student
financial assistance. Undergraduate credit hours will not count toward
enrollment status for graduate students.
By properly completing and submitting the appropriate financial aid forms on
a timely basis, you will be considered for the Pell Grant and/or other state
Other awards will then be made based upon the program choices you listed on
your MSU application. The MSU Financial Aid/Scholarship Office will follow
federal guidelines giving priority to students having the greatest need.
Preference will also be given to eligible Federal Perkins Student Loan and
Federal Supplemental Educational Opportunity Grant applicants who file their
forms by April 1. Federal regulations require that applicants for federal
financial aid be citizens or eligible non-citizens of the United States.
Selection of students also depends upon the guidelines of each individual
program and the availability of funds. Scholarships are given based on academic
ability or performance.
Over 70 percent of the student at Murray State receive some kind of financial
aid from federal, state or university sources. You will be notified by a letter
of the final decision on your application.
Reporting ALL Financial Resources
Federal and state regulations require the Student Financial Aid/Scholarship
Office to monitor all student resources. Such resources include non-university
scholarships and other financial benefits. If these resources are not reported
and are later uncovered, the student’s aid package may be adjusted or repayment
of financial aid received may be required.
Payment and Repayment of
All loan and grant payments administered by the University will be made by
check or credit. Student employment paychecks are issued bi-weekly and are made
payable to the student. All university fees and charges are due no later than
the beginning of the semester. MSU has a payment plan available through the
If you receive a university-administered scholarship, you will receive credit
for your award. The amount you will owe to MSU will show your university
scholarship credit. Any financial aid award is subject to the actual receipt of
funds appropriated to Murray State University by federal and/or state
Withdrawal from School
Your financial aid is based on you attending the entire year that you are awarded. If you leave school before the end of the semester and you received financial
aid, you may discover that you owe a balance to the various aid
programs which helped you and/or to MSU. Refer to the Federal Return to Title IV Refund Policy.
In addition, withdrawing from school will affect your completion rate which could make you ineligible for future financial aid.
Murray State makes special efforts to keep students in school. In addition to
stressing academic excellence and classroom studies, the university also
supports numerous extracurricular activities. The on-campus Learning Center
offers free reading, writing and study skills programs and tutorial programs in
Requirements to Continue to Receive Financial Aid
To remain eligible, you must: Meet the minimum requirements of
the policy governing satisfactory academic standing/progress.
Federal regulations state that all students who receive assistance from the
Federal Work-Study, Federal Stafford Loan, KHEAA Grant, Federal Perkins Loan, Federal Pell Grant, Federal PLUS Loan, Federal TEACH Grant, Grad
Plus Loan or Federal Supplemental Educational Opportunity Grant programs will be
required to make measurable academic progress toward a degree. Failure to
maintain satisfactory academic progress will result in the termination of your
financial assistance. You may re-establish eligibility for financial assistance
when the minimum requirements of the policy are satisfied. This policy also
applies to the Nursing Student Loan; Program; and all KHEAA
Teacher Scholarship, Work and Loan programs.
If you do not meet these requirements, you should
still file financial aid forms for future terms on a timely basis. This will
permit you to be considered for financial aid once your appeal is approved. This
policy applies to all students whether or not the student is receiving financial
aid for the period being monitored.
As an undergraduate student based upon full-time status (a minimum of 12
hours per semester), you will be required to earn a minimum of 24 semester hours
within that academic year (fall and spring semesters). You will be permitted a
maximum of six academic years for completion of a baccalaureate degree(s), three
years for an associate degree(s), and two years for a certificate program for
financial aid purposes.
As a graduate student based upon full-time status (a minimum of nine hours
per semester), you will be required to earn a minimum of 18 semester hours
within that academic year. You will be permitted a maximum of three academic
years for completion of a master’s degree program for financial aid purposes.
In addition to the requirement to complete a minimum number of credit hours
each academic year within a maximum time frame, you must also meet the minimum
requirement for satisfactory academic standing as follows:
The type and amount of aid available for summer school depends on the total combination of how much you used during the fall and spring semester in the academic year (at MSU or any other school combined). To be considered for summer financial aid, you must complete the FAFSA (if you have not already done so for the prior fall and spring academic year) and also complete the MSU Summer Financial Aid Application.
Upon leaving school, whether by dropping below 1/2 time, withdrawing, or graduating, you must complete
exit counseling with our office. During this counseling, you will learn valuable information about loan repayment, entitlements, deferment, and repayment incentives.
/ FACULTY & STAFF
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