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Aid for Weekend MBA and Supply Chain Management Programs

In most circumstances, Weekend MBA and Supply Chain Management students are eligible for financial assistance in the form of loans. Common loan programs are the Federal Subsidized and Unsubsidized Stafford Loan and the Federal Grad PLUS Loan.

  • Subsidized Stafford Loan
    This loan is based upon demonstrated financial need and the interest is subsidized (paid by) the federal government while the student is enrolled at least half-time, during the six month grace period, and in authorized periods of deferment. The annual loan maximum is $8500. No payment is required on the loan until six months after the student ceases to be enrolled on at least a half-time basis.
  • Unsubsidized Stafford Loan
    This loan is not based on financial need, and interest begins accumulating at disbursement, but no payment is required until six months after the student ceases enrolling on a half-time basis. The annual loan maximum is $20,500 (beginning fall semester 2007) minus any Subsidized Stafford Loan eligibility.
  • Grad PLUS Loan
    This loan is not based on financial need, and interest begins accumulating at disbursement, but no payment is required until 30 to 60 days after the student ceases enrolling on a half-time basis. The annual loan maximum is the student's budget minus all other aid.

The Loan Process

Step 1

Complete the Free Application for Federal Student Aid (FAFSA) for the academic period for which you are seeking funding.

Weekend MBA Students: If you are seeking funding for the entire program, you will need to complete the FAFSA for three academic years covering 6 semesters.

To receive aid consideration for:

  • Fall 2009, Spring 2010, or Summer 2010, complete the 2009-2010 FAFSA
  • Fall 2010, Spring 2011, or Summer 2011, complete the 2010-2011 FAFSA
  • Fall 2011, Spring 2012, or Summer 2012, complete the 2011-2012 FAFSA

Supply Chain Management:  If you are seeking funding for the entire program, you will need to complete the FAFSA for three academic years.  You will be eligible for federal loans only during those semesters when you are enrolled half-time or more (5 or more credit hours).  During the semesters that you enroll for less than five credits, you may apply for private loans only.

To receive aid consideration for:

  • Fall 2009, Spring 2010, or Summer 2010, complete the 2009-2010 FAFSA
  • Fall 2010, Spring 2011, or Summer 2011, complete the 2010-2011 FAFSA
  • Fall 2011, Spring 2012, or Summer 2012, complete the 2011-2012 FAFSA

 

Step 2

All loan applicants must submit an Employer Reimbursement Form to the Office of Financial Aid (OFA) indicating the amount of tuition reimbursement anticipated from your employer. Make certain you select the correct aid year. The statement should be mailed or faxed to the Office of Financial Aid, to the attention of Cindy Osborne. Please include a daytime phone number where you may be reached if clarification is needed.

Step 3

When your loan eligibility is determined, an award notice will be sent to your MSU email account. Follow the instructions included in order to accept, reduce, or decline loans offered.

Questions

If you have any questions regarding financial assistance or the aid process, please contact Cindy Osborne at 517/353-5531 for assistance.

 

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