Financial Assistance How do I apply for financial aid? Each year students must complete the Free Application for Federal Student Aid (FAFSA). This application will ask questions about parents’ and student’s income tax return, family size and assets. Students should complete the 2014-2015 application on the web. The web address is: www. fafsa.ed.gov. The federal government will take that data and provide information to the school so that they can determine how much you can receive in grants, loans, and federal work study.
I do not qualify for financial aid. I only want a loan. What do I need to do? Student loans ARE a type of financial aid. The federal government is loaning money to students with no credit history and if the student is not paying interest while in school, the government is paying it to the lender on the student’s behalf. This is why there are limits on the type and amount of loan a student can receive. Even if students only want a student loan, they must complete the FAFSA and go through the entire financial aid process.
Why do I have to provide my parent’s income information?
lives with them that they support, they are a ward of the court, they have a legal guardian appointed by the court, they have been certified as homeless, or they are pursuing a graduate degree.
What is a Pell Grant and how much money can I get? A Pell Grant is money that a student can receive, based on income and family size that does not have to be repaid. Grant amounts range from $400 to $5730 per year.
If I am not eligible for a Pell Grant, what financial aid can I receive? Students who do or don’t receive a pell grant may also receive student loans and federal work study. The type of loan is based on income. Some loans accrue interest while the student is in school and others do not. Work study is based on income also. Some students who do not receive a pell grant will qualify for work study and others will not.
How much loan can a freshman borrow? Freshmen can borrow up to a maximum of $5500 per year. If a student needs additional funds the parents may be able to borrow on the student’s behalf.
Students under 24 years of age must provide parent’s income information unless they are married, they are an orphan, they are a veteran of the armed forces, they have a child that
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How many work study jobs are there and in what departments? There are approximately 260 work study jobs on campus. Most departments have at least one position. Work study students work an average of 9 hours per week and earn minimum wage. Students are paid on the 15th of each month. Work study funds are not applied to a student’s bill.
Do many students at Delta State receive financial aid? Yes. Over 75% of Delta State students receive some type of assistance—grants, loans, work study, or scholarships.
Where do I apply for state scholarships? Apply on-line at www.mississippi. edu/riseupms/financialaidstate.php
Do grades have an affect on my financial aid? Yes. Students must maintain a 2.0 grade point average (C average) in order to continue receiving financial aid. Students who habitually drop classes or withdraw from school can also lose their financial aid. Student Financial Assistance Kent Wyatt Hall 144 (662) 846-4670 finaid@deltastate.edu