Muskingum College: Graduate Studies

General Information for the Master of Information Strategy, Systems and Technology (MISST) program
For tuition information regarding the Master of Information Strategy, Systems and Technology (MISST) program please contact us at 740-826-6128 or misst@muskingum.edu. Contact Jan Vejsicky at 740-826-8010 with Financial Aid questions.

It is the responsibility of the student to make sure that they have all the correct forms completed and/or submitted to Student Financial Services in a timely manner for a for a semester that they want assistance. Student loans can only be processed within the semester dates. After a stduent is awarded, it is also their responsibility to notify Student Financial Services of any changes to their credit hours in that semester.
If a student withdraws from a class, federal policies have changed and this might affect a student's eligibility for a loan ( some of the loan the student received may have to be reduced) resulting in a possible balance due the university. In the past a withdrawal from a course did not change a student's eligibilty for that semester. The student will need to complete a course withdrawal form (available in the Graduate and Continuing Studies Office) when they withdraw.
Availability for summer 2012 refunds of credit balances will be dependent on a student's enrollment pattern. No refunds will be available until at least 3 weeks after the start of the semester, with most refunds happening after July 9.
Refunds are generally available 4-10 days after disbursement to the university. The date of disbursement is generally 7 days after the student notifies Jan Vejsicky in Student Financial Services of the amount the loan should be processed for

Graduate Financial Aid Policies - click on this link for additional information that you need to know as a financial aid recipient.

2012 -13 Award Year

Students seeking a William D Ford Federal Direct Loan must first file the Free Application for Federal Student Aid prior to the semester they begin their program and for which the loan proceeds are intended.For the summer 2012, fall 2012 or spring 2013, you would need to file the 2012-13 FAFSA form. Students who are enrolled in the MISST program may be eligible for Federal Direct Stafford Loans to assist with their costs. Students must be enrolled at least half-time in a term( 4.5 hours)to receive the Federal Direct Stafford Stafford Loan.

You must complete the FAFSA on-line. Be sure to list Muskingum in the school section. Our federal school code is 003084. Students must also complete a Federal Direct Stafford Loan Master Promissory Note (MPN) the first time they take out a loan. The MPN will then be on file in Student Financial Services. The maximum amount of Federal Direct Loan for an academic year is $20500. The maximum possible "subsidized" ( the government is paying the interest during periouds of enrollment that are at least half time) amount is $8500, the remainder being "unsubsidized" (the student is responsible for the interest.) Most MISST students who file the FAFSA will be eligible for this amount for the 3 semesters unless the student has borrowed previously in the award year or is nearing aggregate Federal Stafford Loan limits. Financial aid is awarded for the year by an award letter each semester once the student has registered and has all appropriate paperwork completed and disbursed by semesters, with the academic year amounts divided over the semesters in the year. The in-school interest rate is currently 6.8% for subsidized and 6.8% for unsubsidized. For the MISST program loans will be disbursed by semester, as the amount is determined by the student's enrollment in that semester.

If borrowing only in the William D Ford Federal Direct Loan program to cover expenses for the total program, the student in most cases will need to borrow in two award years. The costs educationally related expenses - computers, travel, food, child care, books, child care,etc can also be incorporated into the amount the student wants to borrow. The Business Office ( Janet Nesselroad and Phil Laube) will need to know a student's financial plan for the two year period, including any employer contribution and what loans the student will be pursuing.

Federal Direct Stafford Student Loans

Federal Direct Stafford 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. The maximum Federal Direct Stafford Loan amount for which the student is eligible is reflected on the award letter. In many cases students are eligible for “subsidized” Stafford 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, rather than the government, is responsible for the interest while enrolled in school. Interest rates are variable and are set every July 1. The upfront fees will be 1.0%. The interest rate is 6.8%. Student has the right to cancel their Federal Direct Stafford Loan within 14 days. Contact the Business office or Student Financial Services.

Starting in fall semester 2012 there will be no subsidized Federal Direct Stafford Student Loans for graduate students.

To apply for the William D Ford Federal Direct Stafford Loan

If you have never had a Federal Stafford Loan or a Federal Direct Student Loan as a college student, either here at Muskingum or elsewhere, you will then have to complete entrance counseling before completing your Master Promissory Note. You may complete Entrance Counseling and your MPN at www.studentloans.gov

Other Financing Options

Payment Plan

If a student would like to make payments to the college instead of taking a loan, they should contact Janet Nesselroad in the Student Accounts Office at 740-826-8118 or janetn@muskingum.edu.

Students must have either made payment for a year or have made satisfactory arrangements with the Student Accounts Office in order to register for the subsequent academic year. Students must have cleared balance for all terms in order for a transcript to be issued.

Grad PLUS Loan

As a graduate student, if you use all your yearly Federal Direct Stafford eligibility, you may be able to borrow in the Federal Direct Grad PLUS Loan. Generally, if after your Federal Direct Stafford Loan is processed for a semester and you have more costs, you, if you do not have adverse credit, may be approved for a Grad PLUS Loan. Contact Jan Vejsicky in Student Financial Services or you may apply directly for a Grad PLUS Loan by going to www.studentloans.gov

Alternative Loans/Private Educational Loans

If you are not interested in filing the FAFSA form or want to borrow more than you can in the Federal Direct Stafford Program (you may want to borrow the full amount of the program), you may be eligible for one of the Alternative Loans which have been developed for students to pay for educational costs.

Alternative Loans are private loans to students or to a student and credit worthy co-borrower. There are a variety of interest and payment options, though in most cases either the interest or both principle and interest can be deferred. A credit check is performed on the borrower (or co-borrower, if applicable) which is a credit scoring process. In most cases lenders will do “instant preapprovals” by phone or on-line, and most lenders prefer on-line application processing. Students may borrow up to the cost of education minus other financial aid for which they are eligible, and in some cases may borrow for a previous balance due the school. The lenders we are most familiar with are listed on FAST Choice.

Repayment of Student Loans

Student Loans are serious obligations which must be repaid. Repayment of loan principal begins after a student graduates, withdraws, or drops below half-time enrollment, and there is a six-month grace period between the time a student’s enrollment stops and repayment begins. Under certain conditions, such as full-time enrollment in college (both undergraduate and graduate), repayment of loans can be deferred. The repayment period for student loans is generally ten years, although this may be extended through a process called loan consolidation if total loan amounts exceed $7,500. For more specific information regarding repayment of loans contact Sallie Mae or Great Lakes Higher Education Corporation, or Direct Loan Servicing.

Entrance Counseling

For first-time Federal Stafford Loan borrowers at Muskingum University, the federal government requires that Entrance Loan Counseling be completed before loan funds can be disbursed to the student’s account. During entrance counseling you will learn more about your loans and receive advice on managing them during and after college. You will complete on-line at www.studentloans.gov. This should be done before you do the master promissory note.

Exit Counseling

All loan borrowers at Muskingum University who graduate, withdraw, or otherwise cease to attend at least half-time study are required to complete Exit Loan Counseling. During counseling you will receive information about repayment of your loans. Go to www.studentloans.gov and click on Exit Counseling under Tools and Resources.