Financial Aid Rights & Responsibilities
1. Academic terms at the Mount are designated in the following manner: S4XX (summer term), S1XX (fall term), S2XX (winter/spring term).
2. Financial aid is based on your demonstrated financial need as calculated from the information on your FAFSA and from our estimate of your costs. Your award is based on your enrollment as full-time (taking 12-18 credit hours) each term unless we have indicated a specific number of credit hours at the top of each column. The minimum credits for which aid is given is 6 hours, except for Pell Grant, Teach Grant, and Ohio College Opportunity Grant recipients in certain situations.
3. Once school begins each term, your grants and scholarships (unless they are still listed as estimates) will be transferred directly to your student account. Loan funds are applied only after you endorse the check(s), sign any required promissory note(s) and complete any required Entry Interview(s) or after funds are electronically transferred to the Mount.
4. First-time borrowers of Federal Direct Student Loans can complete an MPN and Entry Interview at www.studentloans.gov. You can also explore loan repayment calculators and see sample loan repayment schedules on that website.
5. Student and parent borrowers of Title IV, HEA loans should be aware that the Mount is required to report information through the National Student Loan Data System (NSLDS) and that information is accessible by guaranty agencies, lenders, and schools determined to be authorized users of the data system.
6. College Work Study and MSJ Work Study are not a deduction against your assessed charges. Each is an eligibility to earn. The amount shown for these categories is the amount of money the student may expect to earn during the academic year as a result of work performed. For the most part, CWSP and MSJ Work Study students are paid minimum wage. There are on-campus jobs as well as off-campus community service work opportunities for students. Students are paid bi-weekly for the hours they have actually worked.
7. Your Pell and Ohio College Opportunity Grant are estimated pending federal and state funding confirmation, and/or verification of your reported financial information.
8. Pell eligible students, with a projected credit balance for a semester, who wish to purchase their books and supplies with their credit balance have the right to opt out of our regular book voucher system and can request an Emergency Loan through Student Administrative Services. This must be done by the end of the first week of classes in the term and before a refund is processed.
9. Aid offered from federal, state, and institutional programs is tentative based upon expected appropriations. While being reasonably certain all commitments will be met, Mount St. Joseph University reserves the right to revise any award offered.
10. Any funds received from any other sources must be reported to Student Administrative Services. If an adjustment must be made to the aid offered, it will normally be a reduction of a loan or on-campus employment.
11. Students must maintain Satisfactory Academic Progress as defined by the University to receive financial aid.
12. Students may not accept any on-campus employment until the Student Administrative Services Office approves your request.
13. All aid offered is subject to verification of information provided on the application for aid. Your parents and/or you may be required to complete the IRS Data Retrieval process or submit copies of your federal income tax return transcripts.
14. Students who choose to enroll in a program of study abroad approved for credit by the Mount may be considered as enrolled at MSJ for federal and state financial aid programs and may receive assistance through these programs. However, except for specific travel scholarships, MSJ scholarships and grants cannot be used for study abroad.
15. A billing statement will be mailed before each semester; payment is due by the assigned due date. In making remittance, you may deduct the semester amounts of any grants or loans you are receiving if they have not already been deducted. Estimated work earnings may not be deducted.
16. Award offers are for one academic year. You must file a new FAFSA each year. The amount of your aid may vary from year to year depending on your need.