Federal and State Grants
Grants are the most attractive form of financial aid since they do not have to be repaid (unless you withdraw from school and owe a refund). All federal grants are awarded to students with financial need. The amount of a Federal Pell Grant depends on your cost of attendace, expected family contribution, enrollment status (full or part time) and whether you attend for a full academic year or less. The amount of other grant awards depend on your financial need.
There are several types of federal student aid (FSA) grants available to students at the university.
- Federal Pell Grant
- Federal Supplemental Educational Opportunity Grant
- State Grants
1. Federal Pell Grant (PELL)
The PELL Grant is a major source of financial aid used to help pay college expenses and is the foundation of federal student financial aid to which aid from other federal and non-federal sources might be added. Pell Grants are awarded to eligible undergraduate students seeking a bachelor’s degree. A student must complete the Free Application for Federal Student Aid (FAFSA) at www.fafasa.ed.gov yearly to be considered. The Pell Grant amount is based on the Expected Family Contribution (EFC) calculated from the processing of the FAFSA. At Mississippi Valley State University, the PELL grant is used as the base aid to build a student’s scholarship award. For more information please visit: http://studentaid.ed.gov/
- PELL Lifetime Eligibility Usage (LEU)
The amount of Federal Pell Grant funds you may receive over your lifetime is limited by federal law to be the equivalent of six years of Pell Grant funding. The maximum amount of Pell Grant funding you can receive each year is equal to 100%, the six-year equivalent is 600% (12 semesters). The Department of Education (ED) keeps track of your LEU by adding together the percentages of your Pell Grant scheduled awards that you received for each award year.
If your LEU equals or exceeds 600%, you may no longer receive Pell Grant funding. Similarly, if your LEU is greater than 500% but less than 600%, while you will be eligible for a Pell Grant for the next award year, you will not be able to receive a full scheduled award.
2. Federal Supplemental Educational Opportunity Grant (FSEOG)
The FSEOG is a grant that is offered in addition to the PELL grant to undergraduate students with exceptional financial need. The FSEOG is administered directly by the financial aid office. Grant awards range from $100 - $4,000 a year. The FSEOG award is contingent upon the availability of funds each academic year. For more information please visit: http://studentaid.ed.gov/
3. State Grants
The State of Mississippi has several grant and scholarship/loan programs available to students who attend a recognized college or university in the State. Students attending the university should consider the eligibility requirements of the state funded financial aid programs. Application for state aid can be done each year that you complete your FAFSA or you can complete the application via the state financial aid website. The individual programs are:
- Mississippi Tuition Assistance Grant (MTAG)
- Mississippi Eminent Scholars Grant (MESG)
- Critical Needs Teacher Loan/Scholarship Program (CNTP)
- Graduate Teacher Loan/Scholarship (GTS)
- Higher Education Legislative Plan for Needy Students (HELP)
- Summer Development Grant
- William Winter Teacher Scholar/Loan Program (WWTS)
Requirements, applications and deadlines for each program can be accessed at the State Office of Financial Aid (http://www.mississippi.edu/riseupms/financialaid.php) or you may call 1-800-327-2980 or 601-432-6997.