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News for Current Students
- Financial Aid for 2008-09
To be eligible for financial aid for the 2008-09 academic year, students must file a Renewal FAFSA. The Renewal FAFSA can be filed online at www.fafsa.ed.gov after January 1, 2008. Students and parents should sign their FAFSA with the same pin number they used in previous years. If you are unable to file electronically,you can call 800-433-3243 to request a paper FAFSA. For detailed information on how to file go to Need-Based Application Process.
- PLUS Loans
Parents of returning students who have previously borrowed a PLUS Loan should return to Great Lakes or to
Sallie Mae (use the same one you have in the past) to complete a pre-approval for the current academic year. Parents need only to complete the loan pre-approval, indicate that you want to apply for the loan and then choose to use your existing PMPN.
If this will be your first year borrowing a PLUS Loan, please follow the instructions below to start a new PLUS Loan.
PLUS Loans are Loans to parents of dependent students. Loan limits are up to the cost of education less any financial aid received per academic year. The interest rate is 8.5%. Repayment begins within 60 days of full disbursement.
To apply, a parent completes a PLUS master promissory note (PMPN), which is valid for 10 years. A parent should request the amount they wish to borrow for the full academic year. If you need help with determining the amount you need to borrow, please contact the Student Accounts Office at 740-826-8118. Muskingum will certify the loan for either the amount the parent requests, or the maximum they are eligible to borrow (if they request more). The lender will check for adverse credit on the parent borrower. Once the loan is approved loan proceeds are disbursed by semester.
You will first need to select a lender for your PLUS Loan. When you are ready to begin the process you will be taken to FASTChoice which will allow you to compare several lenders before making your choice. Depending on which lender you choose your loan may be processed through Great Lakes Higher Education Corporation or through Sallie Mae/USAFunds (depending on which offers the best borrower benefits).
Click here to Start your PLUS Loan
- Financial Aid for May Term 2008
Financial aid for May term is much different than financial aid for fall and spring semesters.
To be eligible a student must:
-be enrolled for at least 6 hours as a degree seeking student
-have filed the 2007-08 FAFSA
-have remaining need
Eligible students may receive:
-Stafford Loan -if all eligibility has not been used during fall and spring semesters
-Perkins Loan -dependent upon availability of funds - maximum of $1000
-Scholarships & Grants - if May Term is being used to replace a Fall or Spring semester
Alternative Loans are available (upon credit-approval) to students who:
-need additional loan funds to cover their costs for May Term
-are participating in a Summer Study Abroad Trip (and receiving college credit)
Students should Register for May Term and complete the Application for Summer 2008 Financial Aid by April 1, 2008 to receive the 10% tuition discount. Applications should be submitted to Student Financial Services (MH 109). Students will receive notification of their loan eligibility through campus e-mail after the application has been reviewed.
- Financial Aid for Study Abroad
Alternative Loans are available upon credit-approval to students who are participating in a study abroad program and receiving college credit. Students should complete an Application for Summer 2008 Financial Aid in order to have their loans certified.
- External Scholarships
Please visit our Scholarship Bulletin Board for information on external scholarship opportunities.
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