How to Accept/Decline Your Financial Aid

The financial aid you're eligible to receive is determined based on the information you provided on your FAFSA and the Cost of Attendance at Minot State. Your financial aid may consist of grants, loans, scholarships, work study employment or other federal and state programs.

If you wish to reduce or decline any of the financial aid offered, you have the option of doing so on Campus Connection. Keep in mind there are limits for the total amount of loan funds you can borrow as an undergraduate and graduate student.  For more information on these limits, visit StudentAid.gov.

Accept/Decline Awards on Campus Connection

  • Go to the Finances section in Campus Connection and click "Accept/Decline Awards".
  • Select aid year.
  • Click "Accept" for each award. Some types of aid may already be accepted on your behalf.
    • Note: If you do not want to accept the loan(s) offered, be sure to decline them.
    • Reduce the amount of aid offered to you.
      • Click "Accept" and a text box will open, enter the amount you wish to accept.
    • Keep in mind the amount(s) you accept will be split equally, half for fall semester and half for spring semester (unless other wise noted).
  • Click "Submit""Yes"  >  "Ok" to save.
  • Click on “Contact FA Office” to report any 3rd party awards (Ex: Vocational Rehabilitation, BIA grants, external scholarships).

Your financial aid award package is based on your enrollment as a full time undergraduate student. If you plan to take less than than twelve credits per semester, please notify the Minot State Financial Aid Office to have your aid adjusted appropriately. Some aid, such as grants, will be pro-rated based on the actual number of credits you are enrolled in.

Notice! Important: You must be enrolled in at least six credits to be eligible for Federal Direct (Subsidized/Unsubsidized) Loans or Federal Nursing Loans.

 

FIRST TIME BORROWERS

Federal Direct Loan(s) - Subsidized/Unsubsidized
If you are accepting a Federal Direct Loan (and you are enrolled in at least six credits), you must complete a Master Promissory Note (MPN) and Entrance Loan Counseling (ELC) at StudentLoans.gov.

To Complete the online MPN and ELC sessions:

  1. Go to StudentLoans.gov
  2. Log in with your FSA ID
  3. Complete Loan Counseling
    • Click "Complete Loan Counseling (Entrance, Financial Awareness, Exit)"
    • Click the Start button next to Entrance Counseling (Required)
    • Proceed to complete undergraduate Entrance Counseling
  4. Complete Master Promissory Note
    • Click "Complete Loan Agreement (Master Promissory Note)"
    • Click the Start button next to MPN for Subsidized/Unsubsidized Loans

Federal Nursing Loan
If you are accepting a Nursing Loan (and you are enrolled in at least six credits), You must complete a Master Promissory Note (MPN) and Entrance Loan Counseling (ELC) through the Federal Nursing Loan servicer Heartland Educational Computer Systems, Inc. (ECSI). Once the Nursing Loan is accepted, ECSI will send an email with instructions and a link to complete these sessions. (School Code - A5)

Keep track of how much you owe at the National Student Loan Data System (NSLDS). Minot State reports all Pell Grant and Federal Loan disbursements to the NSLDS.