The following chart represents the income ranges for entering freshmen - PDF document

The following chart represents the income ranges for entering freshmen coming to MSU. As you can tell, Murray State students come from very diverse economic backgrounds. 41%Percentage of entering freshmen by income ranges $0 - $30,000 $30,001 - $48,000 $48,001 - $75,000 $75,001 - $110,000 �= $110,001 If you have any additional questions about nancial aid or scholarships, please contact us at: Financial Aid OfceScholarship OfceMurray State UniversityMurray State University500 Sparks Hall102 Curris CenterMurray, KY 42071-3312 Murray, KY 42071-3356msu.sfa@murraystate.edumsu.scholarships@murraystate.edu270.809.2546270.809.3225 800.272.4678 ext. 3800.272.4678 ext. 4270.809.3116270.809.2266 Racer Murray State University Financial Aid Guide for Families Ofce of nrollment Management102 Curris CenterMurray, KY 42071-3356 Scenario 1— Student is an entering freshman from Kentucky who has earned a 3.5 GPA in high school and a 28 ACT. The expected family contribution (EFC) is $0. The student plans to live on campus. Estimated Cost of AttendanceTuition and fees (paid to MSU)$7,392 Housing and meals (paid to MSU)$7,912Books and supplies$1,314Personal expenses$1,935Transportation$861Total$19,414Total Grants, Scholarships and LoansPell Grant$5,730Kentucky CAP Grant$1,900KEES Scholarship$2,000MSU Provost Scholarship$3,000Competitive MSU ScholarshipsFederal Direct Subsidized LoanFederal Direct Unsubsidized Loan$2,000Total$18,630Net CostsEstimated cost of attendance minus total grants,scholarships and loans$784Options to pay net costs may be a combination of the followingprograms, not exceeding the cost of attendanceWork-Study(federal, state or institutional)Parent PLUS Loan$3,084Perkins LoanPayment Plan through MSUMilitary or veterans benetsPrivate loanPersonal savingscenario 2— Student is an entering freshman from Kentucky who has earned a 3.5 GPA in high school and a 28 ACT. The EFC is $0. The student will live on campus. Estimated Cost of AttendanceTuition and fees (paid to MSU)$7,392Housing and meals (paid to MSU)$7,912 Books and supplies$1,314Personal expenses$1,935Transportation$861Total$19,414Total Grants, Scholarships and LoansPell Grant$5,730Kentucky CAP Grant$1,900KEES Scholarship$2,000MSU Provost Scholarship$3,000Competitive MSU ScholarshipsFederal Direct Subsidized LoanFederal Direct Unsubsidized Loan$2,000Total$19,630Net CostsCost of attendance minus total grants, scholarshipsand loans. In this scenario, costs are covered by nancial aid.In-State Sample Financial Aid Packages for 2014-15Scenario 1Student is an entering freshman from Indiana with a 4.0 GPA in high school and a 30 ACT. The EFC is $0. The student plans to live on campus. Estimated Cost of AttendanceTuition and fees (paid to MSU)$9,756Housing and meals (paid to MSU)$7,912Books and supplies$1,314Personal expenses$1,935Transportation$861Total$21,778Total Grants, Scholarships and LoansPell Grant$5,730MSU Regent Scholarship$6,000Competitive MSU Scholarships$2,000Federal Direct Subsidized LoanFederal Direct Unsubsidized Loan$2,000Total$19,230Net CostsCost of attendance minus total grants, scholarships and loans.Options to pay net costs may be a combination of the following programs, not exceeding the cost of attendance Work-Study(federal, state or institutional)Parent PLUS LoanPerkins LoanPayment plan through MSUMilitary or veterans benetsPrivate loanPersonal savingsScenario 2 — Student is entering MSU as a transfer from Missouri with 60 credit hours earned from another college. The student has a 3.4 GPA. The EFC is $2,500. The student plans to live on campus.Estimated Cost of AttendanceTuition and fees (paid to MSU)$8,706Housing and meals (paid to MSU)$7,912Books and supplies$1,314Personal expenses$1,935Transportation$861Total$20,728Total Grants, Scholarships and LoansPell Grant$3,280Transfer Scholarship (one-time award)$2,000Federal Direct Subsidized LoanFederal Direct Unsubsidized Loan$2,000Total$12,780Net CostsCost of attendance minus total grants, scholarships and loans.$7,948Options to pay net costs may be a combination of the following programs, not exceeding the cost of attendance Work-Study(federal, state or institutional)Parent PLUS Loan$9,948Perkins LoanPayment plan through MSUMilitary or veterans benetsPrivate loanPersonal savingsOut-of-State Sample Financial Aid Packages for 2014-15 Scenario 3Student is an entering freshman from Kentucky with a 3.0 GPA in high school and a 20 ACT. The EFC is $10,000. The student plans to live on Estimated Cost of AttendanceTuition and fees (paid to MSU)$7,392 Housing and meals (paid to MSU)$7,912Books and supplies$1,314Personal expenses$1,935Transportation$861Total$19,414Total Grants, Scholarships and LoansFederal Direct Subsidized LoanFederal Direct Unsubsidized Loan$2,000TotalNet CostsCost of attendance minus total grants, scholarships and loans$13,914Options to pay net costs may be a combination of the following programs, not exceeding the cost of attendance Work-Study(federal, state or institutional)$2,000Parent PLUS Loan$13,914Expected family contribution$10,000Payment plan through MSUMilitary or veterans benetsPrivate loansPersonal savingsScenario 3 — Student is entering MSU as a transfer from Tennessee with 30 credit hours earned from another college. The student has a 3.0 GPA. The EFC is $5,000. The student plans to live on campus. Estimated Cost of AttendanceTuition and fees (paid to MSU)$7,776 Housing and meals (paid to MSU)$7,912Books and supplies$1,314Personal expenses$1,935Transportation$861Total$19,798Total Grants, Scholarships and LoansPell Grant$780Federal Direct Subsidized LoanFederal Direct Unsubsidized Loan$2,000Total$7,280Net CostsCost of attendance minus total grants,scholarships and loans.$12,518Options to pay net costs may be a combination of the following programs, not exceeding the cost of attendanceWork-Study(federal, state or institutional)Parent PLUS Loan$13,518Expected family contribution$10,000Payment plan through MSUMilitary or veterans benetsPrivate loansPersonal savingsRegional tuition rates vary according to the state. Rates vary for residents of Alabama, Indiana, Illinois, Missouri and Tennessee. Residents outside those states, including international students, pay the out-of-state rate. MSU has an on-campus residency requirement for freshmen, sophomores and all students receiving a regional tuition rate. What is Financial Assistance?Financial assistance is money provided to families to help with the cost of college. The money comes from federal, state, university and private resources. Financial aid bridges the gap between college costs and what families can pay.Murray State University offers four types of assistance available to families — scholarships, grants, loans and work-study. Scholarships and grants are considered gift aid and do not need to be repaid. Most scholarships are based on academic and/or athletic performance and are considered competitive. For academic scholarships through MSU, students must apply through the MSU scholarship system by January 15. For athletic scholarships, students are encouraged to contact the athletic department regarding eligibility and Loans are offered to students as part of the nancial aid award and vary according to a student’s academic level (freshman, sophomore, junior, senior, graduate). Loans are repaid by the student according to the terms and conditions of the promissory note and repayment is deferred until a student graduates, withdraws or enrolls less than half-time (less than six hours for an undergraduate and less than ve hours for a graduate Work-study provides students the opportunity to work while going to school. Numerous ofces on campus offer employment opportunities. Students can apply for jobs through the MSU human resources website https://www.murraystatejobs.com/.Each award to students will vary and will likely include several types of aid. Financial assistance helps pay for the following educational expenses: • Tuitionfees• Roomboardmeals)• Books• Transportationcosts• Personalexpenses Who is eligible for federal and state nancial aid?Students who need nancial aid to attend MSU must meet the following requirements:• Becitizen,resident alien.• Beenrolledacceptedforenrollmenthalf-time in a degree program.• Onceenrolled,makeSatisfactoryAcademicProgress (SAP) toward a degree. Refer to the nancial aid website for SAP guidelines.• Notdefaultfederalloan or owe a repayment on a previous nancial aid award received at MSU or another • BeregisteredSelectiveServiceyouare male, at least 18 years old and were born after December 31, 1960. How do I apply?Complete the FAFSA on or as close as possible to January 1. The FAFSA stands for ree pplication for ederal id. When asked which colleges you want to receive the FAFSA information, indicate Murray State University (school code 001977). Financial aid is not renewed automatically and students must le the FAFSA every year. Apply atwww.fafsa.gov• GoFAFSAwebwww.fafsa.gov• Requestfederal(personalidenti�cationwww.pin.ed.gov• ListMurrayStateUniversityFederalCode(001977)Once the FAFSA has been led, you will receive a Federal Student Aid Report (SAR) from the federal processor. The SAR represents your expected family contribution (EFC), which is used to determine your nancial aid eligibility. It also indicates what you reported on the FAFSA, so check it for accuracy. Note the following:• IfyouprovideyouraddressFAFSA, you should receive an online SAR within 24 hours after your FAFSA has been processed by the federal processor.• Tomakeanycorrections,youhaveyour PIN available. The PIN is necessary when making updates or changes to your FAFSA.Continue to follow up on your FAFSA. It may be chosen for verication. • Ifyourforveri�cationyouwill need to provide verifying documentation before aid can be awarded or disbursed to you. • Respondpromptlyrequestsfor• Dowait�rstdayclasscomplete the nancial aid process, which can take weeks to complete. Murray State will notify you by email when your nancial aid award is available. You can view your award in myGate, which is the MSU online portal used by students. You can also accept or decline offered awards on myGate. • WhenreceivesyourFAFSAinformationfrom the federal processor and you have been admitted to MSU, our nancial aid ofce will award you an aid package based on your eligibility. • YoureceiveyourFinancialAid Award by email stating the terms and conditions of aid programs awarded to you. Read it carefully, and follow any instructions that pertain to you. Feel free to contact the Financial Aid Ofce at 800.272.4678, ext. 3 or msu.sfa@murraystate.edu Excellence Awardsare awarded to one valedictorian and one salutatorian at each public high school within the 18-county service region. The award consists of a one-time $1,000 merit scholarship along with a one-time $500 housing scholarship. Students must live on campus in order to receive the housing scholarship and attend MSU. The two recipients from each school will be determined by the high school guidance counselor/principal in consultation with the ofce of enrollment management at MSU. The Excellence Award will be in addition to other MSU institutional scholarships. To be considered, students must apply through the MSU scholarship system by January 15.Kentucky Educational Excellence Scholarships (KEES) are available to Kentucky high school graduates who are residents of Kentucky as determined for purposes of admission and tuition assessment by the university. KEES awardsare availablefor a maximum of eight academic terms a baccalaureate degree within ve years from high school graduation. KEES awards can be used for the fall and spring terms only and are not available for summer coursework. You do not have to apply for a KEES award. Your high school should provide all necessary information to the Kentucky Higher Educational Assistance Authority (KHEAA).Your award varies according to your high school academic performance and nancial need. EMPLOYMENTTo search and apply for on-campus jobs, including Federal Work-Study (FWS) as well as other positions, go to MSU’s human resources website at https://www.murraystatejobs.com/ and view job postings. FWS is a federally funded need-based work program that allows recipients to work while enrolled in classes. Additionally, MSU sponsors a University Work-Study program, which allows recipients to work while enrolled in classes. Off-campus jobs are available through private employers as well. The MSU career services website allows students to search and apply for jobs. LOANSMost long-term student loans have low interest rates offerdeferredrepayment.TheFederalDirectLoan Program offers the Subsidized Stafford and Unsubsidized Stafford Loan programs. These loan options enable students to borrow money directly fromfederalgovernment.TheDepartmentEducation is the lender and delivers the money to the student through MSU. Subsidized Stafford Loans are need-based, federally subsidized loans available to undergraduate students. Interest is not charged on subsidized loans while enrollment is at least half-time and during deferment Unsubsidized Stafford Loansare not need-based. “Unsubsidized” means the interest is not deferred * Both subsidized and unsubsidized loans have a xed interest rate and repayment is deferred until a student graduates, withdraws or enrolls less than half time.Federal Direct PLUS Loansare available to parents of dependent undergraduates as well as graduate/professional students. PLUS Loans have a xed interest rate and repayment begins 60 days after the loan is fully disbursed, unless a deferment is requested.Federal Perkins Loansare awarded to students with the greatest nancial need. Interest of 5 percent begins to accrue when the loan becomes due. Payment begins nine months after student graduates, leaves school or drops to half time. Private Loans are awarded by third party vendors such as banks, credit unions and other nancial institutions. For a listing, visit the Fast Choice link on the MSU nancial aid website. MSU does not endorse or promote any private loan lenders. Competitive MSU Scholarshipsare awarded to undergraduate students based on merit and need. Students must apply online through the MSU scholarship application system. MSU has a number of privately funded scholarships ranging from $100 to full tuition per academic year. These scholarships are awarded based on guidelines provided by the donors, nancial need and merit. Recipients must apply by January 15 for consideration. A complete list of scholarships can be found in the MSU scholarship application system.Presidential Fellowshipsare the most prestigious awards MSU offers. Approximately 10 awards are made each year. The fellowship pays for tuition, room and board for up to four years of study at MSU. Web courses and course fees are not included. To be considered, freshmen must have a minimum 28 ACT composite score (or minimum of 1250SAT Verbal and Math Combined Score) a 3.7 cumulative GPA on a 4.0 scale. Students meeting requirementsinvitedMurrayState’sPresidentialHonorsparticipatea competitive interview process. To be considered, students must apply through the MSU scholarship system by January 15.GSP and GSAscholarshipsareavailablegraduates from those programs. Kentucky Governor’s Scholars Program and Governor’s School for the Arts alumni receive a renewable full tuition GSP/GSA scholarship if they have at least a 25 ACT composite score and a 3.5 cumulative GPA. GSP/GSA alumni who have below a 25 ACT, but at least a 3.3 cumulative GPA, are eligible to receive a renewable GSP/GSA scholarship for $1,000 per year. There are six competitive full tuition scholarships for GSA alumni ACTGPArequirements.Racer Promise Tuition Programis available to rst-time freshmen from Murray State’s 18-county service region in West Kentucky. The program guarantees student’s(webcoursefees excluded) is covered for eight semesters or until the rst undergraduate degree is earned, whichever occurs�rst.forPellGrant,CAP Grant and KEES Scholarship must meet certain requirementsyear(referwebsitewww.murraystate.edu/scholarships). Then, if the sum of the Pell Grant, CAP Grant and KEES Scholarship does not differencescholarships to make sure the student has enough aid to cover tuition. To be considered, students must apply through the MSU scholarship system by January 15.GPAs will be converted to a 4.0 scale and SATs will be converted to the equivalent ACT score at time of admission into MSU.3.93.73.63.4$10,000$10,000$10,000$10,000$6,000$3,000$10,000$10,000$10,000$10,000$6,000$3,000$10,000$10,000$10,000$10,000$6,000$3,000$10,000$10,000$10,000$10,000$6,000$3,000$6,000$6,000$6,000$6,000$6,000$3,000$6,000$6,000$6,000$6,000$6,000$3,000$6,000$6,000$6,000$6,000$6,000$3,000$3,000$3,000$3,000$3,000$3,000$3,000$3,000$3,000$3,000$3,000$3,000$3,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000ACT COMPOSITE SCOREHIGH SCHOOL GPATrustee Scholarship$10,000Regents Scholarship $6,000Provost Scholarship$3,000Carr Scholarship University Scholarship$1,000 GRANTSGrants, which do not have to be repaid, are awarded to students with the greatest nancial need. Following are grant programs available at federal, state and institutional levels.Federal Pell Grantis the largest federally funded undergraduate grant program. Awards are based on students’ enrollment status and their expected family contribution, as determined by the information supplied on the FAFSA. Awards for full-time undergraduate students range from $600 to $5,730 per academic year.Federal Supplemental Educational Opportunity Grant (FSEOG)is a federally funded program awarded to undergraduates who demonstrate exceptional nancial need. Awards at MSU generally average $500 per academic year and is awarded on a rst-come, rst-serve basis. College Access Program Grant (CAP) helps Kentucky’s nancially needy undergraduate students attend eligible public and private colleges and universities, proprietary schools and technical colleges. Recipients must be Kentucky residents, have nancial need, attend an eligible Kentucky college, have no past-due nancial obligations to KHEAA or to any Title IV program, and be enrolled at least half-time in a program at least two years in length. The award is up to $1,900 per academic year and is awarded on a rst-come, rst-serve basis.Racer Advantage Grant is funded by MSU and awarded to students who demonstrate high nancial need as determined by the FAFSA. These grants range from $100 to $2,000 per academic year. Funding is limited for these grants and awarded through the MSU scholarship application process. SCHOLARSHIPSMurray State University offers numerous scholarship opportunities for new and returning students. Academic Achievement Scholarshipsare awarded to incoming freshmen and range from $1,000 to $10,000 per academic year. These awards are based on outstanding academic achievement and are awarded on a rst-come, rst-serve basis at the time of admission, regardless of nancial need. No separate required.ScholarsGPAprogressrequirementsyearforawardsyears.Referchartthe next page for eligibility. Financial Aid Programs at Murray State Competitive MSU Scholarshipsare awarded to undergraduate students based on merit and need. Students must apply online through the MSU scholarship application system. MSU has a number of privately funded scholarships ranging from $100 to full tuition per academic year. These scholarships are awarded based on guidelines provided by the donors, nancial need and merit. Recipients must apply by January 15 for consideration. A complete list of scholarships can be found in the MSU scholarship application system.Presidential Fellowshipsare the most prestigious awards MSU offers. Approximately 10 awards are made each year. The fellowship pays for tuition, room and board for up to four years of study at MSU. Web courses and course fees are not included. To be considered, freshmen must have a minimum 28 ACT composite score (or minimum of 1250SAT Verbal and Math Combined Score) a 3.7 cumulative GPA on a 4.0 scale. Students meeting requirementsinvitedMurrayState’sPresidentialHonorsparticipatea competitive interview process. To be considered, students must apply through the MSU scholarship system by January 15.GSP and GSAscholarshipsareavailablegraduates from those programs. Kentucky Governor’s Scholars Program and Governor’s School for the Arts alumni receive a renewable full tuition GSP/GSA scholarship if they have at least a 25 ACT composite score and a 3.5 cumulative GPA. GSP/GSA alumni who have below a 25 ACT, but at least a 3.3 cumulative GPA, are eligible to receive a renewable GSP/GSA scholarship for $1,000 per year. There are six competitive full tuition scholarships for GSA alumni ACTGPArequirements.Racer Promise Tuition Programis available to rst-time freshmen from Murray State’s 18-county service region in West Kentucky. The program guarantees student’s(webcoursefees excluded) is covered for eight semesters or until the rst undergraduate degree is earned, whichever occurs�rst.forPellGrant,CAP Grant and KEES Scholarship must meet certain requirementsyear(referwebsitewww.murraystate.edu/scholarships). Then, if the sum of the Pell Grant, CAP Grant and KEES Scholarship does not differencescholarships to make sure the student has enough aid to cover tuition. To be considered, students must apply through the MSU scholarship system by January 15. GPAs will be converted to a 4.0 scale and SATs will be converted to the equivalent ACT score at time of admission into MSU. 3.93.73.63.4$10,000$10,000$10,000$10,000$6,000$3,000$10,000$10,000$10,000$10,000$6,000$3,000$10,000$10,000$10,000$10,000$6,000$3,000$10,000$10,000$10,000$10,000$6,000$3,000$6,000$6,000$6,000$6,000$6,000$3,000$6,000$6,000$6,000$6,000$6,000$3,000$6,000$6,000$6,000$6,000$6,000$3,000$3,000$3,000$3,000$3,000$3,000$3,000$3,000$3,000$3,000$3,000$3,000$3,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000 ACT COMPOSITE SCOREHIGH SCHOOL GPATrustee Scholarship$10,000Regents Scholarship $6,000Provost Scholarship$3,000Carr ScholarshipUniversity Scholarship$1,000 GRANTSGrants, which do not have to be repaid, are awarded to students with the greatest nancial need. Following are grant programs available at federal, state and institutional levels.Federal Pell Grantis the largest federally funded undergraduate grant program. Awards are based on students’ enrollment status and their expected family contribution, as determined by the information supplied on the FAFSA. Awards for full-time undergraduate students range from $600 to $5,730 per academic year.Federal Supplemental Educational Opportunity Grant (FSEOG)is a federally funded program awarded to undergraduates who demonstrate exceptional nancial need. Awards at MSU generally average $500 per academic year and is awarded on a rst-come, rst-serve basis. College Access Program Grant (CAP) helps Kentucky’s nancially needy undergraduate students attend eligible public and private colleges and universities, proprietary schools and technical colleges. Recipients must be Kentucky residents, have nancial need, attend an eligible Kentucky college, have no past-due nancial obligations to KHEAA or to any Title IV program, and be enrolled at least half-time in a program at least two years in length. The award is up to $1,900 per academic year and is awarded on a rst-come, rst-serve basis.Racer Advantage Grant is funded by MSU and awarded to students who demonstrate high nancial need as determined by the FAFSA. These grants range from $100 to $2,000 per academic year. Funding is limited for these grants and awarded through the MSU scholarship application process. SCHOLARSHIPSMurray State University offers numerous scholarship opportunities for new and returning students. Academic Achievement Scholarshipsare awarded to incoming freshmen and range from $1,000 to $10,000 per academic year. These awards are based on outstanding academic achievement and are awarded on a rst-come, rst-serve basis at the time of admission, regardless of nancial need. No separate required.ScholarsGPAprogressrequirementsyearforawardsyears.Referchartthe next page for eligibility. Financial Aid Programs at Murray State How do I apply?Complete the FAFSA on or as close as possible to January 1. The FAFSA stands for ree pplication for ederal id. When asked which colleges you want to receive the FAFSA information, indicate Murray State University (school code 001977). Financial aid is not renewed automatically and students must le the FAFSA every year. Apply atwww.fafsa.gov• GoFAFSAwebwww.fafsa.gov• Requestfederal(personalidenti�cationwww.pin.ed.gov• ListMurrayStateUniversityFederalCode(001977)Once the FAFSA has been led, you will receive a Federal Student Aid Report (SAR) from the federal processor. The SAR represents your expected family contribution (EFC), which is used to determine your nancial aid eligibility. It also indicates what you reported on the FAFSA, so check it for accuracy. Note the following:• IfyouprovideyouraddressFAFSA, you should receive an online SAR within 24 hours after your FAFSA has been processed by the federal processor.• Tomakeanycorrections,youhaveyour PIN available. The PIN is necessary when making updates or changes to your FAFSA.Continue to follow up on your FAFSA. It may be chosen for verication. • Ifyourforveri�cationyouwill need to provide verifying documentation before aid can be awarded or disbursed to you. • Respondpromptlyrequestsfor• Dowait�rstdayclasscomplete the nancial aid process, which can take weeks to complete. Murray State will notify you by email when your nancial aid award is available. You can view your award in myGate, which is the MSU online portal used by students. You can also accept or decline offered awards on myGate. • WhenreceivesyourFAFSAinformationfrom the federal processor and you have been admitted to MSU, our nancial aid ofce will award you an aid package based on your eligibility. • YoureceiveyourFinancialAid Award by email stating the terms and conditions of aid programs awarded to you. Read it carefully, and follow any instructions that pertain to you. Feel free to contact the Financial Aid Ofce at 800.272.4678, ext. 3 or msu.sfa@murraystate.edu Excellence Awardsare awarded to one valedictorian and one salutatorian at each public high school within the 18-county service region. The award consists of a one-time $1,000 merit scholarship along with a one-time $500 housing scholarship. Students must live on campus in order to receive the housing scholarship and attend MSU. The two recipients from each school will be determined by the high school guidance counselor/principal in consultation with the ofce of enrollment management at MSU. The Excellence Award will be in addition to other MSU institutional scholarships. To be considered, students must apply through the MSU scholarship system by January 15.Kentucky Educational Excellence Scholarships (KEES) are available to Kentucky high school graduates who are residents of Kentucky as determined for purposes of admission and tuition assessment by the university. KEES awardsare availablefor a maximum of eight academic terms a baccalaureate degree within ve years from high school graduation. KEES awards can be used for the fall and spring terms only and are not available for summer coursework. You do not have to apply for a KEES award. Your high school should provide all necessary information to the Kentucky Higher Educational Assistance Authority (KHEAA).Your award varies according to your high school academic performance and nancial need. EMPLOYMENTTo search and apply for on-campus jobs, including Federal Work-Study (FWS) as well as other positions, go to MSU’s human resources website at https://www.murraystatejobs.com/ and view job postings. FWS is a federally funded need-based work program that allows recipients to work while enrolled in classes. Additionally, MSU sponsors a University Work-Study program, which allows recipients to work while enrolled in classes. Off-campus jobs are available through private employers as well. The MSU career services website allows students to search and apply for jobs. LOANSMost long-term student loans have low interest rates offerdeferredrepayment.TheFederalDirectLoan Program offers the Subsidized Stafford and Unsubsidized Stafford Loan programs. These loan options enable students to borrow money directly fromfederalgovernment.TheDepartmentEducation is the lender and delivers the money to the student through MSU. Subsidized Stafford Loans are need-based, federally subsidized loans available to undergraduate students. Interest is not charged on subsidized loans while enrollment is at least half-time and during deferment Unsubsidized Stafford Loansare not need-based. “Unsubsidized” means the interest is not deferred * Both subsidized and unsubsidized loans have a xed interest rate and repayment is deferred until a student graduates, withdraws or enrolls less than half time.Federal Direct PLUS Loansare available to parents of dependent undergraduates as well as graduate/professional students. PLUS Loans have a xed interest rate and repayment begins 60 days after the loan is fully disbursed, unless a deferment is requested.Federal Perkins Loansare awarded to students with the greatest nancial need. Interest of 5 percent begins to accrue when the loan becomes due. Payment begins nine months after student graduates, leaves school or drops to half time. Private Loans are awarded by third party vendors such as banks, credit unions and other nancial institutions. For a listing, visit the Fast Choice link on the MSU nancial aid website. MSU does not endorse or promote any private loan lenders. Scenario 1— Student is an entering freshman from Kentucky who has earned a 3.5 GPA in high school and a 28 ACT. The expected family contribution (EFC) is $0. The student plans to live on campus. Estimated Cost of AttendanceTuition and fees (paid to MSU)$7,392 Housing and meals (paid to MSU)$7,912Books and supplies$1,314Personal expenses$1,935Transportation$861Total$19,414Total Grants, Scholarships and LoansPell Grant$5,730Kentucky CAP Grant$1,900KEES Scholarship$2,000MSU Provost Scholarship$3,000Competitive MSU ScholarshipsFederal Direct Subsidized LoanFederal Direct Unsubsidized Loan$2,000Total$18,630Net CostsEstimated cost of attendance minus total grants,scholarships and loans$784Options to pay net costs may be a combination of the followingprograms, not exceeding the cost of attendanceWork-Study Out-of-State Sample Financial Aid Packages for 2014-15 Scenario 3Student is an entering freshman from Kentucky with a 3.0 GPA What is Financial Assistance?Financial assistance is money provided to families The following chart represents the income ranges for entering freshmen coming to MSU. As you can tell, Murray State students come from very diverse economic backgrounds. 41%Percentage of entering freshmen by income ranges $0 - $30,000 $30,001 - $48,000 $48,001 - $75,000 $75,001 - $110,000 �= $110,001 If you have any additional questions about nancial aid or scholarships, please contact us at: Financial Aid OfceScholarship OfceMurray State UniversityMurray State University500 Sparks Hall102 Curris CenterMurray, KY 42071-3312 Murray, KY 42071-3356msu.sfa@murraystate.edumsu.scholarships@murraystate.edu270.809.2546270.809.3225 800.272.4678 ext. 3800.272.4678 ext. 4270.809.3116270.809.2266 Racer Murray State University Financial Aid Guide for FamiliesOfce of nrollment Management102 Curris CenterMurray, KY 42071-3356 The following chart represents the income ranges for entering freshmen coming to MSU. As you can tell, Murray State students come from very diverse economic backgrounds. 41%Percentage of entering freshmen by income ranges $0 - $30,000 $30,001 - $48,000 $48,001 - $75,000 $75,001 - $110,000 �= $110,001 If you have any additional questions about nancial aid or scholarships, please contact us at: Financial Aid OfceScholarship OfceMurray State UniversityMurray State University500 Sparks Hall102 Curris CenterMurray, KY 42071-3312 Murray, KY 42071-3356msu.sfa@murraystate.edumsu.scholarships@murraystate.edu270.809.2546270.809.3225 800.272.4678 ext. 3800.272.4678 ext. 4270.809.3116270.809.2266 Racer Murray State University Financial Aid Guide for FamiliesOfce of nrollment Management102 Curris CenterMurray, KY 42071-3356