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Minnesota State University, Mankato

Minnesota State University, Mankato

Summer Financial Aid Information

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

www.facebook.com/campushub.mnsu http://twitter.com/#!/campushub http://mnsu.financialaidtv.com/


www.fafsa.ed.gov

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For the 2014-2015, 2013-2014 School Years

Minnesota State Mankato
School Code: 002360


http://www.mnsu.edu/campushub/studentguide/


http://mnsu.financialaidtv.com/


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Students may qualify for financial aid as a resource for summer term costs.  The Summer 2014 Financial Aid Application is required for all types of financial aid funding, i.e. grants and loans.

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Important Dates

  • March 19, 2014: Summer Application available
  • April 25, 2014: Priority filing date for Summer 2014 Financial Aid Application.
  • May 30, 2014: First disbursement of summer financial aid funds.
  • June 30, 2014: Last Day to submit the Summer 2014 Financial Aid Application
  • June 30, 2014: 2013-2014 Free Application for Federal Student Aid (FAFSA) must be received by the Federal Processor on or before this date
  • Other important Summer Financial Aid dates

Application Requirements

*Students who received federal and/or state financial aid awards for Fall 2013 and/or Spring 2014 Semesters at MSU Mankato have met the FAFSA requirement, but still need to submit the Summer 2014 Financial Aid Application.  Students who graduated from a Minnesota high school who do not meet the citizenship requirements to complete the FAFSA can go to the Minnesota Office of Higher Education website for possible financial aid resources from the State of Minnesota.

Enrollment Requirements

For financial aid purposes, the Summer Term is considered to be the equivalent of one academic semester.  For less than full-time enrollment, aid will be prorated.  Your eligibility is determined based on the number of credits for which you are enrolled.  Changes to your enrollment status may reduce or cancel your financial aid.

Enrollment/Credit Requirements                                                

Full Time 3/4 Time 1/2 Time Minimum
Undergraduate 12* 9-11 6-8 6†
Graduate 6‡ - - 6‡

*  To be eligible for a full-time Minnesota State Grant, you must be enrolled for 15 credits. However, students who are enrolled for 3-14 credits may still have eligibility.

† Undergraduate students must be enrolled in a minimum of 6 undergraduate level credit hours to qualify for federal student loans.  Eligibility for the Federal Pell Grant may be possible for less than 6 credits.

‡ Graduate students must be enrolled in a minimum of 6 graduate level credit hours to qualify for federal student loans.

Accepting Summer Financial Aid:  Summer Financial Aid Award Notice and Response Form

  1. Review Summer Financial Aid Award Notice:  When your Summer Award Notice is ready you will receive an email from the Campus Hub stating your Summer Award Notice is available to view by logging into the Financial Aid System.
  2. Complete Summer Response Form:  Accept/Decline awards by filling out a Summer Response form by clicking on the link provided in your Award Notice. Make note of and follow instructions to complete additional acceptance steps required for student loans.
  3. Accept Federal Direct Subsidized/Unsubsidized student loans:  A e-Services loan acceptance process has been established for Federal Direct Loans (Subsidized & Unsubsidized). Students log in with STAR ID and Password, select Financial Aid from the left-side navigation menu, then click on Loans. Current loan eligibility will be displayed and the student may accept either the full amount or a reduced amount. The e-Services process also confirms whether the required Entrance Loan Counseling* and Master Promissory Note (MPN)* steps have been completed, directing students to the Federal site if needed.

*NOTE:  Transfer students borrowing a Federal Direct Loan at MSU Mankato who borrowed a Federal Direct Loan while attending another school are required to complete Entrance Loan Counseling. First-time borrowers of a Federal Direct Loan at any school must also complete the Master Promissory Note (MPN).

Types of Financial Aid Available for Summer

Federal Direct Subsidized/Unsubsidized student loans

The types of financial aid available during the Summer Term are primarily limited to loans:  Federal Direct Subsidized and/or Unsubsidized Student Loans, and other loan options. Having a Federal Direct Subsidized/Unsubsidized Loan during the 2013-2014 academic year may impact your eligibility for the Federal Direct Subsidized/Unsubsidized Loan for the Summer Term due to the annual limits by grade classification. Therefore, your Direct Loan eligibility may be limited or exhausted for the Summer Term. Individual awards are also limited to the student's eligibility and cost of attendance.

Federal Direct Subsidized/Unsubsidized student loan maximum annual and aggregate limits

The annual maximums are based on grade classification and dependent/independent status.

Grants

Federal and/or State grants may be available, depending on your 2013-14 financial aid awards for the Fall and Spring semesters and your enrollment for the Summer term.

Minnesota Post-Secondary Child Care Grant

If you submitted an application for a Minnesota Child Care Grant during the 2013-2014 academic year, you do not need to submit a new application for summer term. If you are not currently receiving the Minnesota Child Care Grant, please print, complete and submit the Child Care application to Student Financial Services as soon as possible, but no later than June 30, 2014. Funding is still available for summer.

Mn GI Bill Grant Program

If you submitted an application for a Minnesota GI Bill Grant during the 2013-2014 academic year, you do not need to submit a new application for summer term.

If you are a military service veteran and have not submitted an application for a Minnesota GI Bill Grant during the 2013-2014 academic year, the 2013-2014 application is available online.

Federal TEACH Grant

Other Loan Options


Other Information

Budget Adjustment

If you are studying abroad, have extra fees for aviation flight labs, daycare, mileage for commuting (35 or more miles round trip), or other additional program expenses, you may complete a separate summer Budget Adjustment Request Form with all required documentation.  If requesting a Budget Adjustment for Summer Term, you must schedule an appointment with a Financial Aid advisor and submit the Budget Adjustment Request along with all necessary documentation as soon as possible. Failure to submit the documentation and meet with an advisor in a timely manner may prevent extra funds from being available. To make an appointment, contact the Campus Hub at (507) 389-1866 or stop by 117 Centennial Student Union. Budget Adjustment Request Form (PDF)

Enrolling at Another Institution

If you are planning on registering for Summer courses at another institution, you must complete a Consortium Agreement. Agreements for students attending other MNSCU institutions are available at the Campus Hub. Agreements for students attending other non-MNSCU schools are available with a Financial Aid advisor. You must schedule an appointment with a Financial Aid Advisor to complete the Consortium Agreement for non-MNSCU schools. To make an appointment, contact the Campus Hub at (507) 389-1866 or stop by 117 Centennial Student Union