Financial AidFinancial Aid - 101
This financial aid home page has been designed to assist you, the student, and your family in understanding the complexities of the financial aid process. However, there is one thing that you should remember, the selection of a school should not be made until the availability of financial aid has been explored. Most people have the misconception that income is the only factor in determining need. However other variables are considered such as: family size, number of family members in college, age of older parent, savings, investments, and various allowances to income and assets. This means that you should file the FAFSA form and review the financial aid available to you through Great Falls College MSU. Our goal is to help you receive the aid for which you are eligible and in the process, we hope to make Great Falls College MSU affordable for you and your family.
Financial Aid 101
There are many financial resources available to students and families who seek assistance. Financial aid is money to be used in meeting expenses related to the completion of an educational program.
The financial aid award is based on your individual financial need and eligibility, and may include various types of aid. This is your financial aid package. This package may include any combination of scholarships, grants, loans, and/or employment. Eligible students meeting required deadlines are offered the maximum amount of aid available after considering external sources such as the Federal Pell Grant, State Grants and other college scholarships. In general, to qualify for the various types of Financial Aid you must have:
- A Social Security Number
- Be a U.S. citizen or eligible non-citizen
- Have a high school diploma, or GED, or have the ability to benefit as demonstrated by and independently administered test
- Be enrolled as a student in an eligible program
- Make satisfactory academic progress
- Male citizens of the U.S. and male immigrant aliens 18 through 25 years old must be registered with the U.S. Selective Service System to be eligible for federal student loans and grants. Men can register at any post office, or register now online.
- And have financial need
To apply for Financial Aid begin by completing the Free Application for Federal Student Aid (FAFSA). In order to receive consideration for as many programs as possible you should file a Free Application for Federal Student Aid (FAFSA) each year before March 1st.
In order to complete the FAFSA form you will need student and parental income and asset information. You will also need both a student and a parental FSA ID to finalize the application. If your parents are married, you only need one parental FSA ID. If your parents are separated or divorced, the parent you live with or the one who has custody should complete the FAFSA form and apply for the necessary FSA ID. If the custodial parent has remarried, the income of that parent and their new spouse (stepparent) must be used.
You must provide parental information on the FAFSA form unless you answer yes to one of the following questions:
- Will the student turn 24 years old this year?
- Is the student married?
- Is the student working on a Master's or Doctorate Degree?
- Was the student on Active Duty in the U.S. Armed Forces?
- Does the student have children or other dependents that he/she supports?
- Is the student an orphan or ward of the court?
- Is/was the student an emancipated minor or in legal guardianship?
- Is/was the student homeless, determined to be homeless, or at risk for homelessness?
If the answer is no to all of these questions, the student is dependent and must include parental information on the FAFSA form. Most students are considered dependent.
By entering the Great Falls College MSU Title IV code of 009314, a copy of your completed FAFSA form will be sent to our institution. We will in turn send you an award letter listing your specific financial aid package. Some of the various types of financial aid that you may qualify for would be Federal Pell Grants, Federal Supplemental Educational Opportunity Grant (FSEOG), State Grants, Federal Subsidized and Unsubsidized Stafford Loans.