Financial Assistance - Federal

POLICY STATEMENT

Delta State University provides opportunities to students for financial assistance through federal grant, loans, and work programs in accordance with the procedures outlined by the grantee and as contained in this policy. Financial aid is granted to students on the basis of need and is available without regard to race, sex, color, creed, or national origin.

DEFINITIONS

Full Time Student: Undergraduate students taking 12 or more hours and graduate students with 9 or more hours.

PROCEDURES and RESPONSIBILITIES

How to Apply for Federal Financial Aid

Complete the Free Application for Federal Student Aid (FAFSA) by March 1^st of each year. This will determine your eligibility for grants, loans, or federal work-study.

You can apply on the web at:

www.fafsa.ed.gov

List Delta State as one of your school choices.

School Code: 002403

Submit additional documents as requested.

A separate institutional financial aid application is required in order to receive financial aid for summer school. This application is available in March and must be received in the Financial Aid office by April 15^th each year.

Federal Assistance Programs Title IV

Title IV of the Education Amendment of 1966 as amended created or authorized the continuance of the Federal Pell Grant, Federal Perkins Loan, Federal Stafford Loan, Federal PLUS, and Federal Work Study programs. All students may apply for these programs, and if it is determined that they are eligible and that funds are available, they will received funds according to their demonstrated need. Students will be eligible to continue in these programs if they:

1.      reapply each year by the March 1^st priority deadline,

2.      enroll in at least six hours,

3.      demonstrate financial need which warrants continuance in the program,

4.      meet requirements of each program they wish to continue,

5.      are “in good standing and maintaining satisfactory progress” in their academic work,

6.      are not in default on either a Federal Perkins or a Federal Stafford/PLUS/SLS loan and,

7.      do not owe a refund on a federal grant.

Important Information Concerning Financial Aid

Students awarded a Federal Stafford loan or a Federal Unsubsidized Stafford loan should be aware of the following information:

• Students who have previously received a federal Stafford loan at Delta State University do not need to complete a new loan application for the coming year. Files from previous year can be electronically submitted to your lender and funds will be disbursed when the new term begins
• Students who have previously received a federal Stafford loan should notify the financial aid office if they do not wish to receive student loan funds in the new term.
•  Students who have not received a Stafford loan at Delta State University will need to complete a Master Promissory Note (MPN) and mail or deliver the MPN to the lender of their choice to insure delivery of funds to the University by the time the term begins. Forms are mailed with the award letter.
• New borrowers of a Stafford loan at Delta State are required to have student loan counseling before their check is released.  Instructions are found at www.mapping-your-future.org/entrancecounseling/.

Instructions for Student Loan Counseling on the Internet 

Students awarded Work Study - Pending be aware of the following information:

• Students should understand that work study award amounts must be earned and will not be applied toward fees at registration.
• Students should contact the departments in which they would be interested in working for to determine if an opening exists. When a student is hired by a department, additional paperwork will be completed by the student and the department.
• Students should be prepared to show their original social security card and a picture ID (such as driver’s license) and complete all payroll documents before beginning work in any department. 
• Students should understand that Work Study-Pending does not mean that a Federal Work Study has been awarded. This award means that a student may qualify for Federal Work Study if a department that has a position available can be found. Most Federal Work Study employees work an average of 10 hours per week at minimum wage.

RELATED DOCUMENTS

• www.deltastate.edu/admissions
• www.deltastate.edu/admin/stu_affairs/finaid,
• www.finaid.org
• 1-800-Go-to-DSU, Extension 3 or 1-662-846-4020