Graduate Student Information

2008-2009 FAFSA Deadlines and Information

What kinds of financial aid are available?

Student Loans are the primary source of financial aid for graduate students, but they are only eligible to students in certain programs.

Other sources of assistance:

• Federal Work-Study : a federally supported employment program. Students must meet need requirements. The rate of pay falls between $6.25 and $8.25 per hour. Students normally work 10-15 hours per week while school is in session.
• Graduate Assistantships : for information regarding graduate assistantships at Montclair State University, please contact the Graduate School, CO-203, Montclair State University, Montclair, NJ 07043, or call (973) 655-5147.
• N.J. Educational Opportunity Fund (EOF) Graduate Grant : students who come from economically disadvantaged backgrounds and who have resided in New Jersey for 12 months prior to application may be eligible. Contact the MSU/EOF Office at (973) 655-4385 for information.
• The University also participates in the Federal Veterans’ Benefit program. Contact the Financial Aid Office for more information.

I n addition to satisfying the status requirement for loan program(s), you must enroll for 9 credits each semester to be considered full-time or at least 5 credits each semester to be considered half-time. Enrollment for fewer than 5 credits in a semester makes you ineligible for any loan assistance during that term.

How and when does a student apply for financial aid?

Beginning in January, the Free Application for Federal Student Aid (FAFSA) will be available online for the following academic year. The application can be completed electronically on the web at http:www.fafasa.ed.gov

The FAFSA should be completed after you have prepared your federal income tax return. If your tax return is incomplete, use estimated data to complete the FAFSA. Those figures are needed to answer questions on the form. Retain copies of the FAFSA and tax return for future reference. Submit the completed FAFSA to the processor after January 1, but no later than March 1, in order to be considered on-time for Montclair State University evaluation. Evaluation of loan eligibility is contingent upon FAFSA results. The Institutional Code for Montclair State University is 002617.

What happens after a student files a FAFSA?

A "needs analysis" is performed by the Federal Processor. A Student Aid Report (SAR) will be sent to you approximately one month after filing and will contain the results. Check it for accuracy. Make corrections if needed, and submit for reprocessing. We will obtain your SAR data electronically and evaluate your application for financial aid.

If you are eligible to receive financial aid (financial aid includes Federal Stafford Loans) and all requested documents have been received, you will receive an estimate of these awards from the Office of Student Financial Aid during late spring or early summer.

Because the Stafford Loan program includes a non-need-based component (unsubsidized), you will be eligible to borrow the maximum loan for your status as long as all other eligibility criteria are met.

How may financial aid be used to pay my bill?

If you have been approved for financial aid, you will be instructed how to apply that aid to your fall bill. Financial aid funds that exceed the term bill are refunded to students after the first month of attendance. You should have resources available, other than financial aid, to meet your expenses for the first month of school.

The financial aid counselor for graduate students is Ms. Ifeyinwa Okobi. Call if you require assistance with forms or procedures.