Financial Aid Information
Frequently Asked Questions
Here are answers to many of the most commonly asked questions regarding financial aid at Metro State.
How do I get my money?
After you have applied for financial aid (and perhaps a student loan),
you will receive an award e-mail stating you have been awarded financial
aid. If you accept any of your aid, it will disburse to your student
account as early as 10 days prior to the first day of school or as
soon as possible after your aid is posted, whichever is later. If
your award is greater than the amount of your tuition and fee bill,
a refund check will be issued to you. Checks may be mailed to your
address as listed with the Registrar's Office if your aid disburses
before the first day of classes. After that time you may pick up your
refund check at the Cashier's Office.
How do I get a scholarship?
Scholarships are awarded to qualified students who have applied for
a scholarship and have been selected by the scholarship committee.
Most scholarships are based on merit (your GPA). Please read about
campus-based scholarships in the Scholarship Guide. You can also do
a scholarship search on the Internet at http://www.fastweb.com.
Why didn't I get a grant?
Grants are need-based aid. If your income (or your parents' income,
if you are dependent) was too high based on the number of people in
the family and the number attending college at least half time, you
will not be eligible for grant aid.
My parents don't support me. Why do I need their information
on the FAFSA?
The Federal government has guidelines that determine whether you are
dependent or independent. Generally, if you are under the age of 24,
not married, have no dependents other than a spouse, have not been
in the military, are not an orphan, and were not a ward of the court
until you were 18, you are considered a dependent student.
How can I be independent?
Although your status is based on Federal guidelines, it may be possible
for you to be independent through a process called "professional
judgment." If you have extenuating family circumstances, independent
status may be granted. Please refer to the Applying for Financial
Aid section for more information.
What is an EFC?
EFC stands for Expected Family Contribution. This is the amount of
your (or your parents') income that is considered available for your
education. It is not necessarily the amount you will be expected to
pay to the college for your education. Please refer to the Eligibility
section for more information.
Do I get the whole amount of my budget in aid?
Most students do not get the full amount of their budget in aid. Student
financial aid is intended to help students to gain a college education.
Because there is not enough money to fully fund every student, aid
is awarded based on need. Please refer to the Packaging Policy section
for more information.
I took out a student loan at another college. Why do I
have to do an entrance interview again for Metro State?
It is our policy to require every first-time borrower at Metro State
to complete an entrance interview.
Why doesn't Metro State participate in Direct Lending?
We chose not to participate in the Direct Lending Program because
we feel our current process is more efficient than that of the Direct
Lending Program. You will receive your loan funds in the same amount
of time a Direct Lender provides. Metro State continues to offer student
oriented service for the entire financial aid process.
How many credits do I need to take to get a student loan?
You must be enrolled in at least 6 credits at Metro State each semester
you wish to receive a loan.
Do I need to be registered to get a loan?
Although you do not need to be registered to turn in a loan application,
your application will not be processed until you are enrolled in at
least 6 credits at Metro State. Your loan funds will not be disbursed
to you if you are not enrolled in at least 6 credits when your lender
sends your money to Metro State.