MBS FAQ

What types of financial aid are available?

Financial aid can come in three forms:

  • Loans (both federal and private)
  • Federal Work Study funds
  • Outside scholarships or loans from private corporations, agencies, foundations, charities, etc. that students apply for on their own
Who may apply for financial aid?

Applicants whose cost of attendance exceeds their family resources are encouraged to apply for financial aid. To be eligible, the applicant:

  • Must be accepted or enrolled at least half-time in a certificate or degree-seeking program
  • Must meet satisfactory academic progress standards
  • Must be a citizen of the United States or an eligible non-citizen
  • Cannot be in default with prior student loans
  • If male, you must comply with Selective Service Registration
  • Must have no prior drug convictions while receiving Title IV funds
Are there any assistantships available to students?
Assistantships are currently not available to students; however, students may apply for student employment (both on and off-campus), which may include Federal Work Study jobs. You may find more employment information online from the Student Employment Office.
What is federal work study?
Federal Work Study (FWS) is a need-based program designed to allow students to work part-time to assist with educational expenses. The Office of Financial Aid awards FWS funding to students that meet eligibility requirements. Students are responsible for notifying the Office of Financial Aid if they are interested in receiving FWS as part of their financial aid package. Employers may find students that are eligible for work study to be beneficial as a portion of the student’s earnings are subsidized by the federal government. More employment information may be found online from the Student Employment Office.
What forms need to be completed annually to be eligible for financial aid?
  • Free Application for Federal Student Aid (FAFSA)
  • TUSM Financial Aid application

*Students may be required to submit signed copies of student’s (& spouse’s if applicable) prior-prior year Federal Tax Returns (including all schedules and W-2′s) if selected for the verification process.

 

What is the priority consideration date by which financial aid forms need to be submitted?

The priority consideration date for having financial aid applications submitted for the Fall 2017 semester is February 17th, 2017 . Students who have submitted all paperwork to the Office of Financial Aid by the priority consideration date will begin to receive award notices in late March.

 

What is the penalty for applying after the priority consideration date
Students will not be eliminated from consideration for any types of funding by applying after the priority consideration date. However, the Office of Financial Aid processes applications on a first-come, first-served basis; therefore, late applicants may experience a delay in the notification of their eligibility. Students would still be expected to meet all registration and bill payment deadlines even if they have not received financial aid award notices by those dates. Consequently, this may also cause a delay with disbursements and/or refund checks being issued. Please be aware that loan eligibility may not be certified after the last day of classes. Students who are applying for financial aid late into the semester (within one month of the last day of classes), should contact the Office of Financial Aid to confirm that adequate time is available to process the request.

Do I need to include parental data on the FAFSA
Graduate students are considered independent and the federal government does not require parental information to be included when determining a student’s eligibility.

How much can students borrow per year in Federal Stafford Loans
The maximum amount a student can borrow in Federal Unsubsidized Stafford Loans is $20,500.  Students may also be eligible to borrow the remainder of their Cost of Attendance in Graduate PLUS Loans.

 

Is there financial aid available during the summer session
Yes, students are eligible to receive federal financial aid for summer course work if they meet the financial aid requirements above which include being enrolled on at least a half-time basis. Students enrolled in the 2-credit thesis over the summer of their first year do not pay tuition but are considered enrolled full-time and are eligible to borrow for summer living expenses. If the student is otherwise eligible for financial aid but has no remaining annual Federal Stafford Loan eligibility, Federal Graduate PLUS loans may be awarded. The Office of Financial Aid recommends that students discuss available options if they are considering summer enrollment.

 

Are non-matriculated students eligible for financial aid
Non-matriculated students are not eligible to receive federal financial aid. Students must matriculate into a certificate or degree program in order to be eligible.