Applying for Financial Aid

Financial aid is available to new students, current students, and transfer students through a combination of loans, grants, scholarships, and employment.  Financial aid is awarded regardless of sex, race, religion, color, creed, or national origin.  The following procedure should be followed by those students who wish to apply for various types of financial aid:

1. Apply for admission to the colleges of your choice.  Contact the school’s Financial Aid Office to determine information about college costs.  The FAFSA (Free Application for Federal Student Aid) is the financial aid application form used by Mayville State University.
2. Parents and students should complete the Free Application for Federal Student Aid (FAFSA) each year. 
   1. Apply and make corrections through the Web by accessing:  www.fafsa.ed.gov or www.studentaid.gov
   2. Each year, students receive a renewal reminder by e-mail from the federal government directing them to complete the FAFSA online

The identification code number for Mayville State is: 002993

1. If help is needed in completing the FAFSA, students may ask their high school counselor, principal, or call the Financial Aid Office.  To access the FAFSA form, all students are required to have an FSA ID (account username and password). If a student does not already have an FSA ID, they will be able to create one on the FAFSA site.  Any other FAFSA contributors (parents, spouses) should also create an FSA ID as they may be required to participate and provide information on the student FAFSA form.  Students and contributors may need additional information or documents as they complete the FAFSA form, including tax returns, records of child support received, and net worth of investments/businesses/farms.  Students and their FAFSA contributors will be asked to provide consent to retrieve and disclose federal tax information (FTI).  This will enable tax return information to be automatically obtained from the IRS to help with completing the FAFSA form.  If consent to FTI is not provided, the student will not be eligible for federal student aid.  Students and contributors must provide consent even if they did not file a U.S. federal tax return or any tax return at all. 
2. Students may include up to twenty (20) colleges and universities to receive their FAFSA information.  Since it is so important to complete FAFSA early, this is useful for students who have not yet made a final decision on which university to attend.
3. The Student Need Analysis Service uses the Federal Needs Analysis Methodology Formula to calculate how much each student and his/her family can afford to contribute. Within one week after the FAFSA is processed, a notice will be sent to the student by e-mail to verify that their FAFSA form has been processed and was sent to the student’s schools.
4. If a student needs to make a correction to their FAFSA, they may do so after the initial application has processed by logging in to the FAFSA website.   If corrections are made, the FAFSA must be reprocessed.  Students are strongly encouraged to contact their school if they have made a correction to their FAFSA to ensure the school receives updated information.  
5. Once a student has been admitted to Mayville State University and the Financial Aid Office has received the results of the FAFSA, the application will be reviewed and a request for additional documents to complete the file may be made.    The FAFSA SAI (Student Aid Index) number will determine eligibility for financial aid.  Once a determination has been made on the eligibility for financial aid, the student will be offered aid based on the student’s eligibility for institutional and federal funding.  The opportunity to accept/reduce or decline this award is made available on the student’s Mayville State University Campus Connection portal at that time. 
6. If federal appropriations fall short of anticipated dollars, student aid will be reduced proportionally.  It is not always possible to give students the amount or type of aid requested.  Federal regulations and appropriations frequently make it necessary to combine several kinds of financial aid to best meet the needs of the applicant. 

Excess financial aid funds are disbursed to students by the Business Office on a semester basis.  Students are strongly encouraged to set up Direct Deposit in Campus Connection.  Otherwise, excess aid checks are mailed to the student’s home mailing address on file with the university.  Students will receive 1/2 of their total financial aid award each semester.  Students receiving Federal Work Study will receive those funds semi-monthly as they earn them.

Married or Single Independent Students

A student attains independent status when he/she meets one or more of the following criteria:

1. Attains age 24 before January 1st of the first calendar year of the award year;
2. Is a veteran of the U.S. Armed Forces;
3. Is a graduate or professional student;
4. Is married as of the date he/she applies;
5. Is a ward/dependent of the court, or was in foster care;
6. Has legal dependents other than a spouse, for which the student currently provides more than 50% of support;
7. Is an emancipated minor as determined by a court; or
8. Is currently service on active duty for purposes other than training;
9. Homeless as determined by the lack of fixed, regular and adequate housing.