![]() If the academic advisor finds that the student has not completed all requirements for the primary degree, the academic advisor should request this information be updated by the Office of Financial Aid by sending an email to explaining the course(s) the student must complete to fulfill the requirements. Students who have completed the coursework for their first degree will be notified via their MSU email accounts that they are no longer eligible for financial aid after the term in which they complete their degree requirements. Financial aid does not pay for coursework for a second major, a minor, or a specialization that is in addition to the requirements for the basic degree. This is true whether or not the student has applied for graduation. Once a student has completed all coursework required to graduate with a satisfactory GPA, the student is no longer eligible for aid for that degree. In general, the amount of all your financial aid cannot exceed your budget, and the amount of your need-based aid cannot exceed your need. Graduate students may also be eligible for a Grad PLUS Loan. After need-based awards have been offered, the remainder of a student's budget may be met with a Direct Unsubsidized Loan or Parent PLUS Loan. Your award notification from MSU will list your eligibility for these programs. The Office of Financial Aid offers need-based grants (such as the Federal Pell Grant), loans, and work-study to students who are eligible based on the results of their FAFSA. If you suspect that your EFC is incorrect, please review your Student Aid Report (SAR) and correct any errors at. This number is calculated using a formula established by Congress, which takes into account all of the data that you and your parents supply on the FAFSA (Free Application for Federal Student Aid). Your EFC (Expected Family Contribution) is a number that describes how much you (and your parents if you are a dependent student) are expected to contribute towards your educational costs. The maximum amount of need-based aid this student may receive The table below shows an example of this formula:Ī student's estimated cost of attendance for Fall and Spring semesterĭetermined by the results of a completed FAFSA Students who withdraw from studies or drop to part-time in the semester they are provided award funding will have their award removed and may be required to repay these funds.Need is calculated as the difference between your MSU budget and your EFC (Expected Family Contribution). Withdrawing or Dropping to Part-Time Studies as an Award Recipient A debit (positive) balance is money you owe us, a credit (negative) balance is money we owe you. To view your student account balance, go to MyMohawk, under the Finances tab, click on My Financial Statement.Refunds are completed within 4 weeks of your award being processed to your student account.You do not need to request a refund for your award. If you do not have a balance owing, your account will be automatically reviewed for a refund.If the above requirements have been met, your award will be placed on your student account first to assist you with paying down any outstanding tuition you may have at the time of disbursement.If you have an active OSAP application, we will automatically update your OSAP application with your award.You will not receive your award until your SIN has been confirmed through MyMohawk. Awards are taxable and we are required to provide a T4A tax document for all award recipients. You may be required to confirm your Social Insurance Number (SIN) through MyMohawk.Your notification email will indicate if a thank you letter is required. You may be required to submit a thank you letter for the donor before you can receive your award.You will be notified by your Mohawk College email only.Award reviews are final and there will be no reassessments.All applicants will receive an email from Awards regarding the outcome of their review that will indicate they have been selected as a recipient or did not meet the criteria for awards this semester.If you miss that deadline you will be eliminated from further reviews. These requests will have a deadline indicated in the email. Check your Mohawk College email frequently as you may be contacted to provide additional supporting documentation to assist us during reviews.Reviews for awards will begin after the application closes and will continue throughout the semester.You will receive an email confirmation of your application submission.Withdrawing or dropping to part-time studies as an award recipient.Check back here to apply for Fall awards on August 1 On this page:
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