Financial Aid
MAP Students
2008-2009 Academic Year

The Muskingum Adult Program (MAP) is an undergraduate program designed primarily for working students who need to take classes during the evenings and weekends. Students are traditionally enrolled on a part-time basis, though full time enrollment is possible in some situations.

Terms and Costs
The 2008-09 academic year will consist of three terms:

Summer (6/2/08 - 8/9/08)
Fall - tba
Spring - tba

Summer 2008 is $330 per credit hour
Fall 2008 is $350 per credit hour
Spring 2008 is $350 per credit hour

Financial Aid Eligibility
The type of assistance for which a student may be eligible depends on the enrollment status of the student during each academic term and the completion of the 2007-08 Free Application for Federal Student Aid (FAFSA). Students may qualify for financial assistance through federal, state or private sources. Due to the lower tuition rate charged to MAP students, Muskingum-funded assistance is not available. Full-time enrollment is 12 credit hours per term, half-time is 6 hours. Most types of financial aid require at least half-time enrollment.


Filing the FAFSA
Students seeking financial assistance must first file the Free Application for Federal Student Aid. Students may complete the 2008-09 FAFSA on-line at www.fafsa.ed.gov for terms 08 summer, 08 fall and 09 spring. Be sure to list Muskingum in the school section and to sign the form with your Federal PIN number.

Financial Aid Award Letter
A Financial Aid Award Letter is sent to the student upon Muskingum's receipt of the FAFSA results from the Federal Central Processor and the student's registration for the term. Financial aid is awarded and disbursed by terms, with the academic year amounts divided by the terms in the year. For the 2008-09 year financial assistance will be awarded based on the assumption of three terms of attendance. The award letter will reflect the hours and tuition costs for the appropriate term and the assistance the student is eligible for.

Types of Financial Aid Available

Federal Pell Grants
Federal Pell Grants are awarded to students who are at least half time according to specific federal eligibility criteria. Award amounts range from $890-4731 in 2008-09, dependent on enrollment status and level of federal funding. A student must file the 2008-09 FAFSA form and not be in default on any previous loans or in an overpayment status with a federal grant.

Ohio Instructional Grants
Ohio Instructional Grants are state-funded grants awarded to Ohio residents according to specific income criteria set by the state. Full-time enrollment is required. Award amounts range from $444-5,466 in 2008-09, dependent upon level of state funding.

Ohio College Opportunity Grant (OCOG)
Recipients must be Ohio residents and must file the FAFSA by October 1, 2008. Students may be full or part-time. OCOG will be awarded to students with an EFC between 0000 and 2190 (as long as the total family income is not greater than $75,000). Award amounts range from $600-$4992 per year, dependent upon level of state funding. The OCOG program is replacing the OIG program which is being phased out. Any student who was enrolled prior to 2006-07 is not eligible for the OCOG, and will receive OIG, if eligible, for the 2008-09 academic year.

Ohio Student Choice Grant
The Ohio Student Choice Grant is an entitlement grant to full time students who are residents of the state of Ohio and who were not enrolled full time in college before 1984. The yearly award amount for 2008-09 is $660.

Federal Stafford Loans
Federal Stafford 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 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. For loans disbursed after July 1, 2008, the subsidized interest rate will be 6.0%. The unsubsidized remains 6.8%.

Applying for the Federal Stafford Loan
If you have been awarded a Federal Stafford Loan there are 3 steps you need to complete in order for Muskingum to be able to process your loan. An MPN does not have to be completed each year unless the student changes lenders, though loans will be processed by term. If you have already completed an MPN at Muskingum, skip to step 3.

1. You will first need to select a lender for your Stafford 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. While we have listed a number of lenders that we feel provide good borrower benefits and good customer service, you have the right to use any lender you wish. Follow the instructions on FASTChoice to select another lender than those listed.

2. Depending on the lender you select, you will either be taken to USAFunds / Sallie Mae's OpenNet or Great Lakes FAST Loans(based on which one lender you selected). At either site you will need to complete both Entrance Counseling which will educate you about your rights and responsibilities as a Stafford Loan Borrower, and the Stafford Loan Master Promissory Note.

3. As there is no place on the MPN to indicate how much you want to borrow you will need to contact Jan Vejsicky to let her the amount you want to borrow.

Click here to Start your Stafford Loan

Alternative Loans
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 (4.5 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


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

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 five to 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.


Stafford Loan Forgiveness Program for Teachers
You may receive up to $17,500 in loan forgiveness if you meet certain criteria. For more information visit www.studentaid.ed.gov. Select Repaying, click on Cancellation and Deferment Options for Teachers, then click on Cancellation for Stafford Loans.


Exit Counseling
All loan borrowers at Muskingum College 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. Click on the link below to complete your Exit Counseling online.

Click on MAP Policies and Procedures to view additional information.