Financial Aid FAQ - Types of Aid

Grants are awarded to students with financial need as determined by the FAFSA. To be considered, students must complete the FAFSA each year.

For more information regarding federal grants visit

The Minot State General Scholarship Application for the next academic year is available in December with a deadline of February 15. Not all MSU Colleges and Departments use the online application. Be sure to check with your College and/or Department for additional scholarship information

New freshman students that are U.S. or Canadian citizens are eligible for the MSU Automatic 4-year Award. New freshman students must be admitted (Apply Now) to MSU by the priority deadline of July 1 for fall semester applicants and December 1 for spring semester applicants. Awards are based on final official unweighted high school GPA and composite ACT or SAT scores provided to the MSU Enrollment Services Office. No additional application other than the application for admission is required for this award. 

To be eligible for a Transfer Student Scholar Award or Cultural Diversity Tuition Waiver award, a student must complete the Minot State General Scholarship Application by the February 15 deadline. 

The first step in applying for federal work study would be to come to the Financial Aid Office to pick up a Student Employment Application.

When you ask for a Student Employment Application, we will look up your Free Application for Federal Student Aid or FAFSA information and determine if you are eligible for federal work study. Federal work study eligibility is based on financial need as determined by your FAFSA.

The next step would be for you to fill out the Student Employment Application and then check the Career Services website for available employment positions. You can also go to offices and departments on campus to inquire if they are hiring. Once you are hired, return the Student Employment Application back to the Financial Aid Office and then pick up New Hire paperwork in the MSU Payroll Office.

Federal Direct Loans are available to students who complete the FAFSA and are enrolled in at least six credits as an undergraduate student and at least five credits for graduate students. There are two different types of Federal Direct Loans for student borrowers, Subsidized and Unsubsidized.

You will need to accept, decline and/or reduce the federal loans offered through Campus Connection under the Student Homepage. Click the Financial Aid Tile > Accept/Decline.

Subsidized Loan is a need-based loan for which the federal government pays the interest on the loan while the student is enrolled in school at least half-time and during period of deferment, only available to undergraduate students.

Unsubsidized Loan is a non-need based loan, the federal government does not pay the interest while the student is in school. It is the student's responsibility to pay accrued interest while in school or choose to capitalize the interest. Unsubsidized Loans are available to undergraduate and graduate students.

More information on Federal Direct loans is available at

The aggregate undergraduate Federal Direct Loan borrowing limit for dependent students is $31,000, with up to $23,000 being subsidized. The aggregate undergraduate Federal Direct Loan borrowing limit for independent students is $57,500, with up to $23,000 being subsidized. It is possible to reach these limits prior to completing your program.

TIP: Only borrow what you need and keep track of how much you have borrowed in federal loans at

Repayment on federal student loans begins six months after you graduate, withdraw or drop below half-time enrollment. Repayment on PLUS loans, however, begins when the loan is fully disbursed. To reduce the overall amount that you will owe on your loans, we encourage you to make monthly interest payments on your loans before your repayment begins.

All federal student loans have a loan servicer that handles bill and other services. You can find your federal loan servicer by visiting Once you have identified your servicer, visit their website to make a loan payment or payment arrangement. For private loans, contact your lender for details on repayment.