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Minnesota State University, Mankato
Minnesota State University, Mankato

Announcements/News

Page address: http://www.mnsu.edu/campushub/announcements/

GradReady - a web-based modular financial literacy training program. GradReady is intended to help students make informed decisions about paying for college, manage their finances while enrolled, and successfully repay their student loans.

GradReady

GradReady

Review Student Orientation Info

Student Financial Services presents information to orientation attendees on topics such as:

Summer Term Financial Aid

Find information about financial aid for summer term here.

Financial Aid Awards for 2016-2017 (06.30.2016)

Students with completed financial aid applications receive e-mail notices when their official financial aid award for 2016-2017 has been packaged, starting mid-June with most being available by the end of June.

A “View Your Award Notification” link within the Financial Aid menu on Student e-Services provides information and guidance to navigate through the financial aid award response steps. Students can review award eligibility at various number of credits registered, make decisions regarding the amount of awarded funds to accept, authorize use of federal financial aid for all student account charges, provide additional information about private scholarships or other resources not reflected, and submit their award response.

As a reminder, the Institutional Budget (also known as Cost of Attendance) reflects the average cost for a variety of student educational expenses that are not all directly billed by the University. Students may accept, decline or reduce the amount they wish to accept of financial aid funds offered if they have other resources available or have lower than average costs. Refer to the Financial Aid Award Checklist for additional guidance.

Students who wish to check the status of their financial aid application may also log in at https://secure.mnsu.edu/FinancialAid and/or contact the Campus Hub for more information.

 

Financial Aid and Summer Short Courses (05.17.2016)

As a summer term student, it is vitally important to be aware that the start dates of courses affect financial aid, in regard to both the timing of when you receive these funds and the amount of funds you can receive.

Timing:
Financial aid is processed throughout summer term. When your financial aid is ready, at least one of your courses must have already begun or must be scheduled to begin within the next 10 days in order for the University to apply your federal & state aid and student loans to your account charges and issue a payment to you for the excess funds, if any. For example, if at least one of your classes begins on the first day of summer term (May 16) and your financial aid is ready to be processed, those funds will be included when the earliest process date for summer term occurs (May 21), and if the total financial aid exceeds your student account balance, the direct deposit payment to you will be scheduled to occur on the earliest disbursement date for summer term (May 27).

The following table is provided to further illustrate this concept:


If at least one of your courses begins by:

The earliest possible date your financial aid can be applied to your account is:

The earliest possible direct deposit date for excess funds (if any) is:

May 16, 2016

May 21, 2016

May 27, 2016

May 31, 2016

May 31, 2016

June 2, 2016

June 13, 2016

June 7, 2016

June 9, 2016

June 20, 2016

June 14, 2016

June 16, 2016

June 27, 2016

June 21, 2016

June 23, 2016

July 11, 2016

July 5, 2016

July 7, 2016

 

Amount:
Your financial aid budget, also known as Cost of Attendance, includes tuition & fees as well as amounts for textbooks and living expenses. The full length of summer term is 10 weeks. When you are enrolled in courses that span the entire length of summer term, your financial aid budget will reflect amounts that cover the full 10-week time period; enrollment in courses that span less than the full 10 weeks will result in a review of your overall financial aid budget. This may affect the amount of aid you are eligible to receive; you will be notified if any adjustments are required.

Additionally, if you drop/withdraw/stop attending any of your courses during summer term, you may be affected by regulations that require the University to reverse all or part of your financial aid. The amount of financial aid reversed will depend on your attendance plans during the rest of the semester. 

If you are enrolled in a summer term short course that has not yet begun at the time you drop/withdraw/stop attending another summer term course, information is needed about your future plans for attendance:

  1. If you plan to attend the short course that has not yet begun, you must submit written confirmation immediately so the appropriate financial aid eligibility can be determined for you.
  2. Written confirmation is given by completing the online form.
  3. If you do not plan to attend the short course that has not yet begun, you should drop that course through the e-Services registration site.  Please note that dropping a course may also affect your financial aid eligibility.

Without written confirmation from you indicating plans to attend a future short course in the semester, even if you are registered for that future short course, the University is required to determine the financial aid reversal amount assuming you will not be attending short courses that have not yet begun.

Summer Term Payment Dates (05.06.2016)

Monday, June 20, 2016, is the Summer Term Due Date. All registered students should ensure that spring semester account balances are paid in full or covered by a Nelnet/FACTS payment plan. Please note: Sunday, June 19, 2016, is the last day to enroll in the last available payment plan for summer term through Nelnet/FACTS.

Monday, July 11, 2016 is the Summer Term Past Due Date. Accounts with unpaid summer term balances not covered by a Nelnet/FACTS payment plan will be subject to Unpaid Balance hold and $50 late fee. Students meeting the minimum payment criteria by the registration guarantee dates will not have registrations cancelled for non-payment; enrolled students are obligated for tuition and fees charges, regardless of attendance, according to timelines published for summer term’s official withdrawal and dropping courses procedures.

More information on billing and payments, including available Automatic Payment Plan options.

Apply for Financial Aid for 2016-2017

Students planning to attend Minnesota State University, Mankato during the 2016-2017 school year are encouraged to submit their Free Application for Federal Student Aid (FAFSA) as early as possible to determine eligibility and allow sufficient time for required award acceptance processes. Work-study and certain other federal scholarships and grants are limited; students who qualify for need-based aid and apply by March 15 ensure greater access to these resources before the available funds are depleted.

2016-2017 FAFSA information is submitted through www.fafsa.gov, the U.S. Department of Education’s application site. Free assistance is available via online prompts and “Help and Hints” topics as you navigate through the FAFSA. If you would like to see a preview of the questions you may be asked while completing it online, you can review the FAFSA on the Web Worksheet. A number of helpful YouTube videos including How to Fill out the FAFSA are also provided by Federal Student Aid, an office of the U.S. Department of Education.

Several free workshops are held across Minnesota each year where financial aid professionals are on hand to assist with FAFSA completion. For more information, go to the Minnesota College Goal website, www.minnesotacollegegoal.org/StudentsFamilies.html

For additional assistance regarding the FAFSA process, contact us.

Set up Proxy Bill Pay through eServices

Students can assign proxy access to designated individuals to view University account information and make payments on the their behalf. A student who wishes to provide this access can do so by logging in to mnsu.edu/eservices, selecting the Bills and Payment menu item, and clicking on the “Give Someone Access to Pay My Bill” button on the Bills and Payment summary screen. The first time the student is required to read and accept the Terms and Conditions. Once accepted, the name and e-mail address of the alternate payer may be provided. Clicking on the “Send or Renew Access Request” button will initiate an e-mail message sent to alternate payer with instructions to activate his/her access within five days. Proxy bill pay access remains active for six months; a student may revoke access at any time, as well as renew access after it expires or is revoked.

The proxy bill payer will have access to functions within the Bills and Payment section of eServices, which includes viewing the student’s class schedule through the Account Activity PDF form. The proxy bill payer will not be able to enroll in a Nelnet/FACTS payment plan, will not have access to other sections of eServices, nor can s/he designate anyone else to have proxy bill payer access.  Students may also designate more than one individual as assigned alternate bill payers with proxy access to their account. It is recommended that access is limited to family members such as a parent, spouse, or legal guardian. It should also be noted that providing access to alternate payers is not considered a guarantee of payment; the student retains sole responsibility for timely payment of all account charges.

Important Dates information related to student accounts

Direct deposit saves time, money

Payments to students for financial aid overages, student payroll earnings, and refunds are routinely posted to student-designated bank accounts through direct deposit. Students with a current direct deposit authorization benefit from safest, quickest and most convenient method of payment while assisting the University in its mission to provide excellent student service at the lowest possible cost.

Students set up their authorization to their bank account through the e-services Direct Deposit Setup function found under either the Financial Aid or the Student Employment menus. This setup screen can also be viewed to confirm the accuracy of bank account information for a current direct deposit authorization.


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