Award Descriptions
Federal Pell Grant: Value is determined by the Free Application for Federal Student Aid (FAFSA) & enrollment status.
Federal Campus-Based Programs: Federal Work Study (potential earnings) and SEOG Grant (gift aid). If you are awarded work study, contact the financial aid office regarding job descriptions, job placement and required paperwork.
Federal Direct Stafford Student Loans: Stafford loans are not automatically packaged for students who have never had loans awarded at our campus. Students interested in loans must contact the Missouri State-West Plains financial aid office to request a loan. Eligibility will then be determined.
If you accept a Direct Stafford Student Loan on your award letter, follow these instructions:
- Review the loan amount awarded. Accept, decline or reduce the amount on the award letter.
- Complete the Entrance interview at https://StudentLoans.gov. First-time Direct Loan borrowers at our school must complete the Direct Loan Entrance Interview before we certify the loan.
- At the conclusion of the Entrance interview, complete the Master Promissory Note (MPN). Your Department of Education PIN number will be used as your electronic signature.
- When you return your award letter to the financial aid office, we will continue processing your loan.
Federal Direct Subsidized and Unsubsidized Direct Stafford Loans and the Federal Direct PLUS Loan: Repeated courses, audited courses, courses with 'F' grades or 'I' grades are not counted toward loan level advancement. Please refer to the following chart for annual loan limits*:
| Loan Level | Credit hours at this level | Max Stafford/ Unsubsidized | Independent Unsubsidized | Max Plus |
|---|---|---|---|---|
| 1 | 0-29 Credit hours | $3,500 | ** | Cost of Education less other aid |
| 2 | 30 Credit hours through completion of associate's degree. |
$4,500 | ** |
*The academic year (Fall + Spring + Summer) dictates the frequency for receipt of annual loan limit maximums. The academic year must pass or you must progress to a higher annual loan limit before you may regain eligibility for another annual loan limit maximum. There are aggregate loan limits for loans through completion of a bachelor's degree.
**Additional Unsubsidized Loans for independent students may be available. Contact the financial aid office for more information.
30-Day Hold: First-time Stafford Loan borrowers cannot receive their first disbursement until 30 days after the first day of the semester.
Remember: All Stafford Loans must be disbursed in two equal installments-the first at the beginning of the loan period, and the second at the midpoint.
If you have a Federal Unsubsidized Direct Stafford Loan, interest charged during in-school and deferment periods will be added to your loan principal unless you choose to pay the interest while in school. Contact the Department of Education.
Stafford Loan Fees: The government charges a 1 percent origination fee which is deducted from the loan gross amount.
Interest Rates: Federal Stafford Direct Loans have a fixed interest rate that may not exceed 8.25 percent.
Student Loan Ombudsman Office has been designated by the U.S. Department of Education to provide assistance and information for student loan borrowers. Borrowers can call 1-877-557-2575.
Students taking block courses must be registered for those classes prior to the end of the change of schedule period which is the Pell Grant freeze date.
Pell Grant Freeze Date. The Pell Grant is based on your course load at the freeze date (the day after the add/drop period.) If it changes prior to when you receive any aid, it may affect your eligibility. In some cases, you may have to repay financial aid funds that you have received.
Pell Overpayment or a Defaulted Stafford Loan can void my financial aid.
Award Letter Revisions
Student's award letter may be revised because of the following: Assumptions used in making your award prove to be incorrect, your financial circumstances change, you receive assistance from some source not previously considered, or modification of the offer is required due to the availability of funds.
It is the policy of Missouri State-West Plains to use student financial aid to pay all charges owed to the university. In addition to the tuition and housing charges, students may owe special course fees, short term loans, etc.
When the aid amount exceeds the amount owed, the student will receive the excess in a check or EFT (electronic funds transfer) and may use the money for non-University expenses such as off-campus rent, transportation and personal needs.