Financial Aid - MAP Students
My name is Amber Gump and I am the Financial Aid Counselor for students in the Muskingum Adult Program. You may contact me with any questions about your financial aid eligibility by emailing me at firstname.lastname@example.org or calling 740-826-8139.
Financial Aid Eligibility
To be eligible for financial aid you need to:
- Be accepted into the MAP program as a degree-seeking student.
- File the FAFSA at www.fafsa.gov.
- Complete Verification (if selected). Please read the section below on Verification.
- Provide your Enrollment Plan
- Complete MPN and Entrance Counseling for NEW Direct Loan borrowers. Please read the section below on Applying for Federal Direct Loans.
Financial Aid Award Letter
A Financial Aid Award will be sent to your Muskingum email after completing the steps above. The award letter will reflect your tuition charges and your financial aid eligibility for each session based on the number of credit hours you are taking. MAP students may be eligible for Federal and State Grants and Federal Loans. MAP students are not eligible for Muskingum-funded assistance since the tuition rate is lower than the traditional undergraduate tuition.
The 2015-16 academic year consists of two semesters with two sessions in each. Students may participate in one or both sessions each semester.
||Tuition per credit hr
||Spring 1 2016
||Spring 2 2016
If your FAFSA is selected for verification for the 2015-16 year you will receive an e-mail from Student Financial Services directing you to go online to complete the verification process. If you have lost the e-mail here is the link to complete verification: https://muskingum.verifymyfafsa.com/Account/Login
You will need to create an account (or login if you already have an acount). After you login please follow the instructions to verify information provided on your FAFSA. If you need assistance you may call our office at 740-826-8139 and ask to speak with Emily.
Using IRS Data Retrieval Tool when you file the FAFSA
When you file your FAFSA online at www.fafsa.gov you will be offered the option of using IRS Data Retrieval to transfer your 2014 federal tax information directly from the IRS into your FAFSA application. If you use IRS Data Retrieval for your initial FAFSA submission your chances of being selected for verification by the Department of Education (a process which requires you to submit tax information to the Financial Aid Office) is significantly reduced.
Using IRS Data Retrieval Tool after you have filed the FAFSA
To access the IRS Data Retrieval Tool:
login to your FAFSA record at www.fafsa.gov.
2. Select “Make FAFSA Corrections”.
Go to the financial information section of the FAFSA. If applicable please update your tax filing status to “already completed” and utilize IRS Data Retrieval. You will be asked to provide a student and parent PIN number. To validate your identity the IRS Data Retrieval will ask for your social security number, and date of birth. Please note that in order to access tax information your name and address must be entered exactly as it appears on your tax return.
Once your tax information is transferred to your FAFSA you will need to provide your FSA ID as your electronic signature and re-submit your FAFSA. The schools listed on your FAFSA will receive your updated information.
It is important that you do not alter your FAFSA income information after you have used the IRS Data Retrieval Tool. If you need to make changes please make sure that you have filed an amended tax return first, then send us a tax return transcript of your amended return from the IRS.
If you have any technical questions while using the IRS Data Retrieval process please contact FAFSA at 1-800-433-3243.
To see how the IRS Data Retrieval works you can watch this video tutorial:
IRS Data Retrieval Tool Video Tutorial
Requesting a Tax Return Transcript for those not able to use IRS Data Retrieval
If you are selected for Verification and are not eligible to use the IRS Data Retrieval Tool (i.e. you are married but filed separately, you filed an amended return, or you have a foreign tax return) you must provide us with a 2014 Federal Tax Return Transcript provided by the IRS.
You may request a 2014 Federal Tax Return Transcript:
1) online at www.irs.gov
2) toll free at 1-800-908-9946 or
3) by downloading Form 4506-Twhich you will need to complete and mail to the IRS.
Please make sure that you are requesting a tax return transcript and not a tax account transcript.
If you have questions regarding the use of the IRS Data Retrieval Tool or requesting a tax return transcript please contact our office at 740-826-8139 and ask for Emily.
Types of Financial Aid Available
Federal Pell Grants
This grant is awarded to students who have filed the FAFSA and for 2015-16 have an EFC of 5198 or less. Full-time award amounts for 2015-16 range from $626-$5,775 based on EFC. Pro-rated grants are available to half-time and less than half-time students. Students may not be over awarded or in default on any federal aid program and if selected for verification must submit documentation to complete the verification process. The duration of a students eligibility to receive a Federal Pell Grant is limited to 12 semesters or its equivalent.
Ohio College Opportunity Grant (up to $2,592 per year in 2015)
Recipients must be Ohio residents and must file the FAFSA and have an EFC of 2190 or less. For 2015-16 eligible full-time students will receive $2,592 for the academic year. Students who are 3/4 time, 1/2 time and 1/4 time can receive pro-rated grants. The duration of a students eligibility to receive OCOG is limited to 8 semesters or its equivalent.
Choose Ohio First Scholarship (RN to BSN, Health Science and Informatics students only)
If you are from Ohio and are a student in the RN to BSN program, Health Science or Informatics program, you may be eligible for assistance from the Choose Ohio First Scholarship program through the Ohio Board of Regents. Students may apply for awards of up to $750 per semester in this program. Recipients are required to complete a small service requirement as a condition of the award. Applications for the Choose Ohio First Scholarships are available from the office of Graduate and Continuing Studies.Contact Janeen Eno if you have questions.
Federal Teacher Education Assistance for College and Higher Education (TEACH) Grant Program
The Federal TEACH Grant program provides grant assistance to an undergraduate student who agrees to serve for at least 4 years as a full-time teacher in a high-need field in a school that serves students from low-income families. A TEACH Grant recipient who does not complete their required teaching within a specified time frame or fails to meet certain other requirements of the TEACH Grant program will be required to repay the TEACH Grant as a direct unsubsidized loan under the William D. Ford Federal Direct Loan Program. For 2015-16 eligible full-time students will receive $3,708 ($3,728 after Oct. 1) for the academic year. Students who are 3/4 time, 1/2 time and 1/4 time can receive pro-rated grants.
Students must check their eligibility by reviewing the TEACH Information Sheet.
Students who have reviewed the TEACH Eligibility Form and want to apply for the grant must complete the TEACH Grant Agreement to Serve (ATS) and TEACH Grant counseling at www.teach-ats.ed.gov.
Federal Direct Student Loans
are available to all students who file the Free Application for Federal Student Aid (FAFSA) and who are enrolled at least half-time (6 credit hours per semester). The maximum Federal Direct Loan amount for which the student is eligible is listed on the award letter. In many cases students are eligible for “subsidized” Loans, which means the federal government pays the interest during periods of enrollment. In other cases, part or all of the loan will be classified as "unsubsidized," meaning the student is responsible for the interest while enrolled in school.
Interest rates are variable and are set every July 1. Federal Direct Loans disbursed after July 1, 2015 and before July 1,
2016 have an interest rate of 4.29% and an upfront origination fee of 1.073 (1.068 after 10/1/15).
Students who borrow in the Direct Loan program can cancel within 14 days. Contact the Business Office or Student Financial services.
Applying for Federal Direct Loans
If you have been awarded a Federal Direct Loan and have not borrowed in this program before, there are 3 steps you need to complete in order for Muskingum to be able to process your loan if you do not have an active Direct Loan MPN on file.
1. Complete a Federal Direct Loan Master Promissory Note (MPN) at https://studentloans.gov
2. After completing the MPN, you will need to complete Entrance Counseling on the same site.
3. As there is no place on the MPN to indicate how much you want to borrow, you will need to contact your Financial Aid Counselor Amber Gump at 740-826-8139 or email@example.com to let her the amount you want to borrow.
Alternative Loans can be used to cover any educational expenses not covered by financial aid. This type of loan can be used if you are not interested in filing the FAFSA or will be enrolled less than half-time (6 hrs). The loan is in the student's name, but in some cases a credit-worthy cosigner is required. There are several payment options, though in most cases either interest or both principle and interest can be deferred. The credit check that is done on the borrower or co-signer is a credit scoring process. Students may borrow up to the cost of education minus financial aid. In some cases students may borrow to cover a previous balance.
There are hundreds of alternative loans available to students. We have selected the ones that we are most familiar with. If you go to FASTChoice you will be able to compare alternative loans and select the one that best meets your needs.
Click here to Start your Alternative Loan
If you would like to make payments to the college instead of borrowing money, contact Janet Nesselroad in the Student Accounts Office at 740-826-8118 or firstname.lastname@example.org
All loan borrowers at Muskingum
University who graduate, withdraw, or otherwise cease to attend at least
half-time study are required to complete Exit Counseling. During counseling you
will receive information about repayment of your loans. Go to studentloans.gov and click on Exit
Counseling under Tools and Resources.
The Department of Education has
also created an EXIT Counseling Guide for Federal Student Loan Borrowers
(pdf) which provides you with the information you need
to successfully repay your federal student loans.
If you have borrowed a Federal Perkins Loan, University Accounting
Servicewill contact you about completing your Federal
Perkins Loan Exit Counseling.
Students who received a TEACH Grant must also completete the required TEACH Grant Exit Counseling. It is very important that you complete the exit counseling as it will remind you of the TEACH grant requirements and obligations. It will also explain how to keep in contact with the Department of Education regarding your teaching status. If you are planning on attending graduate school you may be eligible to receive the TEACH grant as a graduate student. If a student receives the TEACH grant, they have up to 14 days to cancel the grant. Contact the Business Office or Student Financial Services.
Repayment of Student Loans
Student Loans are serious
obligations which must be repaid. Repayment of principal begins after a student
graduates, withdraws, or drops below half-time enrollment. There is a six-month
grace period between the time a student’s enrollment stops and repayment begins.
During your grace period you should prepare to enter repayment by following
these 3 steps to ensure successful repayment of you loans:
1. Know who
you owe and how much. Your loans may have been sold to other lenders or to
the Department of Education. Visit nslds.ed.gov to see who holds your
Federal loans and how much you have borrowed. To see how much you borrowed in
private loans, go to annualcreditreport.com to receive a
listing of your private loans on a free credit report. (There is a fee if you
want to view your FICO score.)
2. Determine the right repayment plan. For more specific information regarding repayment of loans including
available repayment options go to studentloans.gov. You may also visit www.ibrinfo.org for information on
income-based repayment. If you are interested in consolidating your loans, you
may be able to extend your repayment period up to 30 years. Consolidation will
reduce your monthly payments but will greatly increase the total amount of
interest you will pay. Visit studentloans.gov for more information.
Stay on top of your loans. Stay in contact with your lender to update your
contact information or to change your repayment plan. If you are having trouble
making a payment contact your lender to see if a deferment or forbearance is
available. DO NOT SKIP A PAYMENT!
Loan Forgiveness Programs for Teachers and those in Public Service
You may be eligible for loan forgiveness if you meet certain criteria. For more information visit:http://studentaid.ed.gov/repay-loans/forgiveness-cancellation/charts
Cohort Default Rate
2012 three-year national student loan cohort default rate is 11.8%.
Muskingum's FY 2012 official three-year cohort default rate is 5.9%.
Student Loan Indebtedness
The average amount of indebtedness of undergraduate student loan borrowers from the class of 2015 was $33,587 (not including private loans).
Click on MAP Policies and Procedures to view additional information.