Frequently Asked Questions

Can I still start school and attend classes if I have not completed the Free Application for Federal Student Aid (FAFSA)?

In most cases you will be able to start school and attend classes. It takes 4-6 weeks to process the federal financial application once your file is complete with the Student financial aid office.

How do I get my refund using e-Refund?

e-Refund is a direct deposit process offered by Account Services that allows you to manage your refund from the comfort of your computer. You must log in to myState, click on myBanner for Students, then Direct Deposit Bank Information (under Account Information) to enter your bank information. For more info refer to Account Services Refunds. 

How do I receive financial aid at MSU if I am a transfer student?

Have your FAFSA results released to MSU. Make sure that any aid for the current semester is canceled at your previous institution. Submit any required documents needed to complete your application. Check your myState for any unsatisfied requirements. The federal government requires that we monitor your aid for 7 days (longer if aid is still pending at your previous institution) prior to making disbursements into your MSU student account.

How will I know if my refund will be available during Final Registration?

Check myState to make sure all necessary requirements have been met.

If all requirements have been met, including accepting your awards through myState, signing your MPN (if applicable), and completing an Entrance Counseling Session (if applicable), then check your account detail through myState. If you have a negative balance at that time, you can request to have this amount direct deposited into your personal banking account. 

Should I consolidate my loans after I graduate from Mississippi State University?

You might want to consider that Federal Perkins Loans (if you have one) are eligible for some service cancellation benefits and once they are consolidated you lose the right to have the loan canceled. For a list of employment areas that are eligible refer to ecsi.net or a copy of the Federal Perkins Master Promissory note that you signed when you received the loan.

Also Teachers may be eligible to have a portion of their Direct Stafford Loans forgiven after five years. For more information on Direct Stafford Loan Forgiveness for Teachers refer to studentaid.ed.gov

If your loans are not eligible for Service Cancellation and you are interested in consolidation you may apply and find more information at https://studentloans.gov/myDirectLoan/index.action

What if I am not awarded enough Financial Aid to cover my Summer costs?

The Federal PLUS Loan and the Alternative Loans are educational loans that are options when other federal aid is not available. The Federal PLUS Loan is specifically for eligible parents to borrow on behalf of their dependent student. The Federal Graduate PLUS Loan is specifically for eligible independent graduate students. The Alternative Loans are private (non-federal) educational loans that dependent and independent students may borrow. All three loan programs are credit-based and not guaranteed. For instructions on How to Apply, click on Loan Index.

What if I have received all of my federal aid and still do not have enough money?

The Federal PLUS Loan and the Alternative/Private Loan are educational loans that are options when other federal aid is not available or not sufficient. The Federal PLUS Loan is for eligible parents to borrow on behalf of their dependent student. The Federal Graduate PLUS Loan is for eligible independent graduate students. The Alternative Loans are private (non-federal) educational loans for dependent and independent students. All three loan programs are credit-based and not guaranteed. For instructions on How to Apply, click on Loan Index.

What is an Over-award and what happens if I have an Over-award?

Federal and/or State Financial Aid recipients may not receive funds in excess of Financial Need and/or the Cost of Attendance. This may occur when students receive funds from other sources or agencies. When an over-award occurs, the Department of Student Financial Aid is required to adjust the student's financial aid. A student may be required to repay funds due to the loss of eligibility. To prevent an over-award, notify the Department of Student Financial Aid of any assistance you receive that is not listed on your award letter. Examples of other aid include scholarships, military benefits, waivers, assistantships, and Vocational Rehabilitation benefits.

What is considered a Special Circumstance and how do I file for a Special Circumstance?

Financial Aid awards may be re-evaluated due to special circumstance. The following are examples of possible special circumstances: divorce of student or supporting parent, death of spouse or supporting parent, loss of income or employment of student, spouse, or supporting parent, excessive and unusual family medical expenses not covered by insurance. All requests to revise your award must include supporting documentation. You must complete the Special Circumstance form. These forms are available by contacting a counselor in the Department of Student Financial Aid at 662-325-2450.

What is e-Refund?

e-Refund is a direct deposit process offered by Account Services that allows you to manage your refund via your computer, by allowing you to have your credit balance electronically deposited directly to your bank account.

To enter your bank information, you must log in to your myState, click on myBanner for Students, then Direct Deposit Bank Information (under Account Information). For more information, please refer to Account Services Refunds.

What is Expected Family Contribution (EFC)?

The EFC is an index number that college financial aid staff use to determine how much financial aid you would receive if you were to attend their school. The information you report on your FAFSA is used to calculate your EFC.

The EFC is calculated according to a formula established by law. Your family's taxed and untaxed income, assets, and benefits (such as unemployment or Social Security) all could be considered in the formula. Also considered are your family size and the number of family members who will attend college or career school during the year.

What is the difference between a Subsidized Direct Stafford loan and an Unsubsidized Direct Stafford loan?

Federal Subsidized Direct Stafford Loans are "need" based, federally subsidized student loans which have repayment deferred until after you graduate, withdraw or enroll less than half-time. Interest is paid by the federal government until the end of the six-month grace period after you drop to less than half-time enrollment.

Federal Unsubsidized Direct Stafford Loans are "non-need" based, federally unsubsidized student loans which have repayment deferred until after you graduate, withdraw, or enroll less than half-time. You pay all interest on unsubsidized loans and interest begins to accrue once the loan is disbursed. You do have the option to pay the interest while you are in school, or can allow the interest to accrue and have the interest added to the principal amount of the loan. This will increase the total amount you have to repay because you will be charged interest on a higher loan amount. Most students, regardless of need, are eligible for the Unsubsidized Direct Stafford Loan.

What is the difference between dependent and independent students?

• Did you turn 23 before January 1st of the current year (or at least 24 years old)?
• Are you working on a master's or doctorate program?
• Are you married?
• Do you have dependents other than your children/spouse who live with you and who receive more than half of their support from you?
• Do you have children who receive more than half of their support from you? (must provide documentation)
• Are both of your parents deceased, or are you (or were you until 18) a ward/dependent of the court?
• As determined by a court in your state of legal residence, are you or were you an emancipated minor?
• As determined by a court in your state of legal residence, are you or were you in legal guardianship?
• Are you an unaccompanied youth who was homeless or at risk of being homeless?
• Are you a veteran of the U.S. Armed Forces?
• Are you currently serving on active duty in the U.S. Armed Forces for purposes other than training?

If you answered yes to any of these questions, you are considered an independent student. You must be prepared to provide documentation if you answered yes to any of these questions.
If you answered no to all of the questions you are considered Dependent for FAFSA purposes. 

What is the last day to apply for MTAG and MESG?

The deadline to complete the State Aid Application is September 15th. Any additional documents must be submitted by October 15th.

What is the priority deadline for completing the FAFSA to be considered for the maximum financial aid package at Mississippi State University?

April 1st of each year. 

When should I complete the FAFSA?

The FAFSA is made available in October of each year. Fall always starts a new school year, and our school year runs Fall, Spring & Summer. Be sure to complete the FAFSA using the IRS Data Retrieval. The IRS Data Retrieval will link your IRS tax return information directly onto the FAFSA for you. This process will save you time and insure that your data is accurate. If you are able to pull your tax return information directly from the IRS to the FAFSA you are less likely to have to submit additional documents. 

When will I be awarded if I was late submitting my Free Application for Federal Student Aid (FAFSA) and/or Alternative Loan Application?

We have a large number of students who wait to submit their FAFSA or Private/Alternative Loan application until Registration time, resulting in an excessive amount of documents being submitted during Registration. Because of the extra traffic during this time, the process will be slowed somewhat. Be assured you will be awarded as soon as time permits. The files are awarded in the order they are completed, meaning any additional required documents must also be submitted. Please check your myState often in order to either accept your award, or to see if you must submit additional documents.

When will I have my Refund?

Provided you are enrolled at least 1/2 time (6 hours for Undergraduates, 5 hours for Graduates), eligible for financial aid, and have been awarded Financial Aid sufficient for a refund, they will be available during final registration for the semester you are enrolled.

When will my MTAG and/or MESG show on my Mississippi State University award notification?

The Mississippi Office of Student Financial Aid (MOSFA) determines award eligibility and communicates with students regarding their award status. Once MOSFA notifies Mississippi State University of award eligibility, we immediately post awards to student accounts. State Aid and Federal Aid are not normally posted on the award notification at the same time.

My Financial Aid has been awarded for summer, why has it not disbursed into my account?

If you have been awarded a loan of any type you must accept your awards online, and you may be required to sign a Promissory Note, complete the Entrance Counseling, or complete the Truth in Lending before your aid will disburse. If you are a first time student at MSU there may also be a temporary monitoring hold. Please check your e-mail and Banner regularly for updates and requirements.

You may have changed your enrolled hours after we made the award. If so, your aid will not disburse until after the last day to add a class for each of the summer sessions. Also, the number of currently enrolled hours may not support the type of award initially offered/made (ie. loans require half-time enrollment).

How to Get Financial Aid for Summer 2024

To be considered for Summer 2024 financial aid, you need to register for Summer classes AND ensure that we have your completed 2023-2024 FAFSA results.

Students will be reviewed for summer aid based on when they enroll for summer classes. Therefore, you are encouraged to enroll early to insure the maximum aid consideration (based upon eligibility). Pre-registration is April 2 to April 12, 2024. You will be awarded based on your enrolled hours at the time of review.

Try to avoid adjusting your schedule after you have been awarded.

If you change your enrolled hours after we make the award, your aid will not disburse until after the last day to add a class for each of the summer sessions.

When will I be awarded my Summer Financial Aid?

Students are reviewed for summer aid eligibility once they’ve enrolled in their summer classes. We will begin reviewing and awarding students in the order they enrolled beginning with the earliest enrollment date. Please continue to check your award status via your myState using your net ID and password. You will also receive an e-mail via your MSU E-mail account (the account MSU designates for you) once you are awarded. Funds for Summer are limited because Summer is the end of the aid year, so enroll as soon as you are able.