Fall 2020 Plan and Information
COVID-19 Updates and Information

New FSU Students

Applying for Financial Aid

After October 1st; Before March 1st

Any student who wishes to apply for financial aid should file the Free Application for Federal Student Aid (FAFSA) prior to March 1 of each calendar year.  The FAFSA is available for the next academic year every October 1 and the FAFSA will use prior prior year taxes.  Prior Prior year taxes means the FAFSA will utilize taxes 2 years back.  For example, if you are applying for the 2020-2021 aid year, you will supply the 2018 tax return.

The Financial Aid Office strongly suggests filing the FAFSA no later than February 15th to ensure that the form is successfully completed before the March 1 priority deadline. You may begin filling out the FAFSA form as soon as October 1. FSU's school code is 002072.

 

Financial Aid Programs

Federal Grants

Pell Grant - Pell Grants are a type of Title IV Federal Aid. Pell Grants are awarded to the neediest students in order to help them pay for college. In order to qualify for a Pell Grant, you must complete the FAFSA form. You do not need to meet the March 1st deadline to qualify for a Pell Grant. Although you do not need to meet the March 1st priority deadline in order to qualify for a Pell Grant, please keep in mind that a Pell Grant alone is not enough to cover the entire cost of attendance at Frostburg State University. Additionally, a student may only receive a Pell Grant for the equivalent of 12 full-time semesters (or 6 years of undergraduate study).  The amount of a Pell Grant award is determined by the Pell Grant Schedule which is published every year by the US Department of Education. .

Federal Supplemental Education Opportunity Grant (SEOG) - The SEOG is also a type of Title IV Federal Aid. A student must be eligible to receive a Federal Pell Grant in order to qualify for SEOG. In order to qualify for SEOG, you must complete the FAFSA form. Unlike Pell Grant funding, SEOG funding is limited, and students must meet the March 1st priority deadline for financial aid in order to qualify for SEOG funds at Frostburg State University. Award amounts are determined by the allocation of funding FSU receives from the Department of Education.  Typically, only students with 0 EFC results from FAFSA receive SEOG funding

 

Institutional Grants

FSU Grants are awarded to students who demonstrate significant financial need on the FAFSA. The amount awarded can vary based on available funds and the number of eligible applicants. Grants do not need to be repaid. To receive priority consideration, students should have their FAFSA processed by March 1. 

Maryland State Scholarships & Grants

The Maryland Higher Education Commission (MHEC) offers several financial aid programs for Maryland residents enrolling at Maryland colleges or universities.

For more information on these and other programs, or to obtain applications, please visit www.mhec.state.md.us. You can also contact MHEC representatives at 1.800.974.0203.

You can view the top 4 programs offered by MHEC by clicking here https://www.frostburg.edu/admissions-and-cost/financial-aid/aid-programs/maryland-state-scholarships--grants.php

FSU Scholarships

FSU Scholarships are offered to students based on criteria that vary with each scholarship, such as academic performance, curriculum, place of residence or financial need. They do not need to be repaid. The deadline to apply for FSU scholarships is March 1.

To apply and or review Frostburg’s scholarships go to https://www.frostburg.edu/admissions-and-cost/financial-aid/aid-programs/fsu-scholarships--grants.php

Outside Scholarship Opportunities are offered by companies and individuals that are not associated with Frostburg State University.  These outside scholarships have rolling deadlines and have been vetted by our office to ensure they are legitimate.

To review and apply for these  go to https://www.frostburg.edu/admissions-and-cost/financial-aid/aid-programs/fsu-scholarships--grants.php

 

Work-Study Programs

Work-Study offers the opportunity to work in a position on campus and earn hourly pay. The award does not apply directly to a recipient’s bill. For more information on work-study positions go to https://www.frostburg.edu/admissions-and-cost/financial-aid/aid-programs/work-study-programs.php

Federal Direct Student Loan Information

- fixed-rate loans for all students, with subsidized interest for students with financial need

Federal Direct Student Loans come in two forms: subsidized and unsubsidized. Subsidized loans are available to students showing financial need on the FAFSA. The federal government pays the interest on subsidized loans for the student as long as they are enrolled at least half-time (6 credits). Unsubsidized loans are available to all students and incur regular interest. Students can make these interest payments while they are in school, or they can capitalize the interest. Capitalizing the interest means that the student is not required to make payments while in school; however, the interest continually builds, and the student will pay more for the loan in the long run.

This federal website  U.S. Department of Education's Stafford Loan website will provide you with a lot of information on loan amounts allowed and much more.

All students who accept a Federal Direct Student Loan for the first time must complete a Master Promissory Note and Entrance Counseling. You will use your FAFSA username and password to complete the paperwork for your loans. No loans will be credited to your account until both requirements are complete.

Accepting Your Loans- You will need to log on to your PAWS account and accept the loans.  You can decline, reduce or accept the full amount of the loan.

Master Promissory Note (MPN) is your promise to the federal government that you will pay back the loan funds.  You will only need to complete this MPN one time and it is good for 10 years.  You can find the MPN at https://studentaid.gov/mpn/

Entrance Counseling is required so you understand the terms and conditions of your loans and see the requirements and terms FSU as a school must meet.  You can complete the process at https://studentaid.gov/app/counselingInstructions.action?counselingType=entrance

Parent Assistance

Frostburg Financial Aid has a page dedicated to our FSU parents to help you navigate the financial aid process.  You can find the page at https://www.frostburg.edu/admissions-and-cost/financial-aid/for-parents.php

Parent (PLUS) Loans

a loan for the parents of undergraduates

Direct PLUS Loans are available to the parents of undergraduate students.  Direct PLUS Loans have a fixed interest rate for the life of the loan. All undergraduate children of a PLUS loan applicant must complete the FAFSA to receive these loans.

All parents who want to apply for a Parent (PLUS) Loan for the first time must complete the PLUS loan application and a Master Promissory Note. As a parent, you will be required to apply for a parent loan every academic year.  If you chose to apply for the loan by semester, you will be required to apply for the PLUS loan every semester.  You will use your FAFSA username and password to complete the paperwork for your loans. No loans will be credited to your account until both requirements are complete.

Accepting Your Loans-  If FSU Financial Aid Office receives an approved PLUS loan, we will automatically accept the loan for you by placing the approved amount on your student’s financial aid awards.

Applying for the PLUS Loan  you will need to apply for the PLUS loan every year or semester.  You will apply for the loan here https://studentaid.gov/app/launchPLUS.action?plusType=parentPlus

Master Promissory Note (MPN) is your promise to the federal government that you will pay back the loan funds.  You will only need to complete this MPN one time and it is good for 10 years. However, if you are applying for more than one student, you will need a MPN completed for each student.   You can find the MPN at https://studentaid.gov/mpn/parentplus/landing

This federal website U.S. Department of Education's Direct PLUS Loan website will provide you with a lot of information on loan amounts allowed and much more.

Alternative (Private) Loans

Alternative Loans are loans through Private Lenders outside of the federal government.  Frostburg has a list of those alternative lenders that our students typically borrow loans through; however, this is not a comprehensive list.  You can apply through any lender who offers these loans.  Here is our website to help you with the process and how to apply with our most utilized lenders https://www.frostburg.edu/admissions-and-cost/financial-aid/aid-programs/alternative-loans.php

Financial Aid Regulations to help you maneuver through the process

The Financial Aid Office is required to perform certain tasks to ensure students remain eligible to receive financial aid.  Here are a few and where you can find information on these processes.

Verification Process is a regulation where schools must review certain paperwork to ensure the information on the FAFSA is the same as documents requested.  FSU is notified by your FAFSA results if you are chosen for verification.  You can find additional information about this process at https://www.frostburg.edu/admissions-and-cost/financial-aid/apply-for-aid/aid-verification.php

Satisfactory Academic Progress (SAP) all schools are required to ensure students are moving towards a degree in a timely manner.  There are three components of SAP and the information can be found at https://www.frostburg.edu/admissions-and-cost/financial-aid/apply-for-aid/satisfactory-academic-progress.php

Consequences of Withdrawing from the University If a student receiving federal financial aid withdraws from the University before completing 60% of the enrollment period, FSU will be required to return some or all of the student’s federal aid.  Here is more information https://www.frostburg.edu/admissions-and-cost/financial-aid/current-students/withdraw-policy.php

FSU’S FEDERAL FAFSA CODE

002072

CONTACT FINANCIAL AID

Financial Aid Office
114 Pullen Hall
301.687.4301
fsufinaid@frostburg.edu