Financial aid is available to students who have been fully admitted into a graduate program at Minot State University. Students requesting financial aid MUST complete the Free Application for Federal Student Aid (FAFSA).
The Financial Aid Office reserves the right to make the final determination regarding the type(s) and amount of aid awarded to students.
Who May Apply
Students applying for federal financial aid must (1) be a U.S. citizen or eligible non-citizen, (2) be fully admitted into a graduate degree program at Minot State University, (3) be enrolled in at least six (6) semester hours per term of attendance,(for financial aid purposes 6 semester hours is considered 1/2 time and 12 semester hours is full time), (4) be making satisfactory progress towards completion of a course of study, (5) not be in default on any Federal Family Education Loan Programs, (6) not owe repayment on a Federal Pell grant or Federal SEOG grant.
How to Apply
Students applying for financial aid must complete a Free Application for Federal Student Aid (FAFSA) on the internet at www.fafsa.ed.gov or complete a paper FAFSA. When completing the FAFSA, applicants must list Minot State Universityís School Code (002994).
An application for admission must be on file and students must be fully admitted into a degree granting program offered at Minot State University.
Students applying for financial aid for the summer term are required to complete an Institutional Financial Aid Application in addition to the FAFSA.
When to Apply
Students may apply for financial aid any time throughout the academic year. Allow four to five weeks processing time. CAUTION: Students completing the FAFSA incorrectly or omitting necessary information may be required to resubmit the FAFSA. This will cause a delay in determining a studentís financial aid eligibility. The date a studentís file is complete is the day the corrected forms are received in the Financial Aid Office. Students who have a completed file by April 15 may expect to be notified of their financial aid package in June.
How Financial Aid is Awarded
Financial aid is awarded based on need and the availability of funds. Need is the difference between the estimated cost of education as determined by the University, and the expected family contribution as determined by the FAFSA. A need exists if the expected family contribution is less than the estimated cost of education.
The estimated cost of education includes those costs recognized by the federal government as necessary for a student to pursue an education. To view the estimated cost of attendance, visit our website at www.minotstateu.edu/finaid.
Withdrawal from the University
A student who finds it necessary to terminate enrollment from the University must officially withdraw by completing a Withdrawal Form with the Financial Aid Office. Students may withdraw through the twelfth week of the fall and spring semesters and through the sixth week of the summer session. Failure to follow this official process will result in a series of failed grades (Fís) being permanently posted on their academic record.
If a student wishes to withdraw from all courses and is unable to come to the Financial Aid Office, the student may request to be withdrawn by sending a letter stating the reason for withdrawal. The letter must be signed and dated by the student. A student may complete and submit the withdrawal form found on our website under forms.
Types of Financial Aid
Minot State University offers four types of financial aid: (1) traineeships, (2) loans, (3) scholarships, and (4) student employment. Traineeships are gifts of money, which do not have to be repaid. Loans are borrowed money which MUST be repaid. Scholarships are gifts awarded to students on the basis of academic achievement, need, or other demonstrated abilities. Student employment allows the student to work and earn money for educational purposes.
The financial programs listed represent the major programs offered at Minot State University. Students are encouraged to apply for other aid such as Vocational Rehabilitation, Veteranís Benefits, Military Assistance, and Bureau of Indian Affairs Grants.
Some departments offer federal traineeships to graduate students pursuing a graduate degree in specific areas. Interested graduate students should contact the appropriate department chairperson regarding traineeships available.
Federal Stafford Loans
The program is a long term, low interest rate loan that must be repaid. The loan funds are provided by financial institutions. Application for the Federal Stafford Loan program is made by completing the FAFSA. If eligible, students may borrow up to $8,500 per year. The federal government pays the interest while the student is in school. Repayment of the loan begins six months after a student graduates, leaves school, or drops to less than half-time enrollment status.
Federal Unsubsidized Stafford Loan
The same terms and conditions as the Federal Stafford Loan apply to this loan program with the exception that the student is responsible for the payment of the interest. Interest payments are made quarterly or as determined by the lender.
Federal regulations require institutions participating in federal financial aid programs to measure a studentís progress towards obtaining a degree. To be eligible to receive financial aid, students must meet the following requirements of Minot State University:
- Academic standard (qualitative)ógraduate students must maintain a 3.00 cumulative grade point average.
- Rate of progress standards (quantitative)óstudents must successfully complete two-thirds of the cumulative hours attempted.
A detailed copy of Minot State Universityís satisfactory progress policy for financial aid eligibility may be obtained from the Financial Aid Office.
Return of Title IV Funds Policy
Students who withdraw from school and who have received federal funds may have to repay a portion of those funds back to the federal aid programs. The portion of funds that must be returned is calculated by dividing the number of calendar days attended by the number of calendar days in the term. The return of funds will be calculated through 60% of the term, which is approximately the first 70 calendar days or approximately the first ten (10) weeks of the term.
Example: The term is 116 calendar days in length and the
student decides to withdraw on the 21st calendar day of the
term. The student has earned 18.1% of the funds received and
must repay 81.9% of the funds. If the student received $2,600.00
the student would have to repay $2,129.40.
The impact this federal regulation will have on students who withdraw from school is that they will have to repay, at the time of withdrawal, a portion of the funds they received for the term of attendance.
Students who owe a repayment of funds: (1) will not be entitled to enroll in subsequent terms, (2) will not be eligible to receive additional federal funds, and (3) will have a hold put on their grade transcripts until their account is paid in full. In addition, these students may have their account reported to the US Department of Education for further action.
Students who receive institutional scholarships may have to repay a portion of those funds based upon the return of funds formula.
A student with special circumstances may appeal his/her financial aid status by submitting documentation to the Financial Aid Office explaining those circumstances. Documentation received will be reviewed, and the results will be available at the Financial Aid Office.
Assistantships are University appointments that provide financial support to outstanding graduate students. These assistantships allow students to gain experience in teaching and research at the University level.
- Give faculty more time for research and faculty development, thus strengthening the graduate program;
- Are used as a recruiting tool to attract talented students to Minot State University;
- Benefit all areas and programs on campus as a graduate may pursue a graduate degree in one program while conducting research or teaching in another area;
- Improve the academic quality of Minot State University.
An assistantship is based on a portion of the studentsí full time status for the specific job assigned. This could be teaching one class or conducting research for 10 hours per week during the academic year or 12 1/2 hours during the summer term. Each Department Chair will provide a job description to the Graduate Assistant and the Graduate School. It is expected that a 1/4 time assistant would relieve faculty time for that job for 1/4 time. Each term, the student receiving a Graduate Assistantship must enroll in a minimum of 6 semester hours of coursework during the academic year or 3 semester hours during summer session or be completing thesis or project credits. Students enrolled in thesis or project credits or have an in progress grade are eligible to receive 2 years of graduate assistantship funding. Students enrolled in Education Specialist programs and have thesis or project credits in progress are eligible to receive 3 years of graduate assistantship funding. Students enrolled in doctoral programs and have dissertation credits in progress are eligible to receive 4 years of graduate assistantship funding.
Assistantship applications may be obtained by contacting the Graduate School. The completed application must be received in the Graduate Office by April 1.