Financial Aid Office

June 2013 Previous month Next month

What March 15th is not:

  • A deadline for submitting verification documents
  • A deadline for updating your FAFSA with 2012 tax information
  • The last day you can file a FAFSA for the 2013-2014 school year

What March 15th is:

  • MSOE’s suggested date for filing your FAFSA even if you have not yet
    filed 2012 federal taxes

Why?

  • MSOE has a priority deadline because some aid is “first-come, first-served” and students could lose out on aid they qualify for if they
    wait too long to file their FAFSA. If your 2012 federal tax information
    is not available by March 15th, it is okay to use estimated income
    figures, or 2011 federal tax information, to complete the 2013-2014
    FAFSA.

Not planning to file a 2013-2014 FAFSA?

  • If you do not plan to file a FAFSA for the 2013-2014 school year, and you
    would like to receive your MSOE Academic Scholarship only, please
    email finaid@msoe.edu and let us know you are waiving the 2013-2014
    FAFSA.

Federal PIN
Both the student and one parent are required to have a PIN in order to electronically sign the FAFSA. If this is your first year completing a FAFSA and you have never applied for a PIN before, go to the PIN website www.pin.ed.gov to Apply for a PIN. If you already have a PIN but do not remember it, go to the PIN website to Request a Duplicate PIN.

2012 Federal Tax Return & 2012 W-2s
The FAFSA requires applicants to report income and asset information from the previous calendar year. When completing the 2013-2014 FAFSA, tax and other financial information from 2012 will be used. If you are completing the FAFSA before your federal taxes are filed you can report on the FAFSA that you “Will File” and then use either your 2011 income figures (if it’s similar to your 2012 income) or use the Income Estimator option on the FAFSA. The more accurate income figures you report the less your financial aid could change when you eventually file taxes and update your FAFSA.

If you are completing the FAFSA after filing your federal taxes you can use a copy of your 1040, 1040A or 1040EZ to manually report the tax information requested.  However, it is HIGHLY RECOMMENDED that you utilize the IRS Data Retrieval Tool (IRS DRT) on the FAFSA to transfer  your tax information directly from the IRS. This option is available 3-8 weeks after filing your taxes (3 if filed  electronically, up to 8 if filed by mail)*. Using the IRS DRT ensures that your tax information is reported accurately and may lower your chances of being selected for Verification.

Announcement Regarding IRS Data Retrieval Tool for the 2013-2014 FAFSA
The Internal Revenue Service (IRS) announced on Tuesday, January 8 that it won’t begin accepting 2012 tax returns until January 30, which will delay the availability of data through the Department of Education’s IRS Data Retrieval Tool for the 2013-2014 FAFSA. The January 30 start-up date is eight days later than originally planned due to the January 2 enactment of tax law changes made to resolve the “fiscal cliff.” Since tax data is generally not available for retrieval for at least three weeks after a tax return is electronically filed, the earliest the IRS DRT on the FAFSA will have 2012 tax information available for retrieval will be late February.  MSOE encourages students to file the FAFSA by our priority deadline of March 15, so students may not want to wait until the IRS Data Retrieval Tool is available to file their FAFSA. One major drawback in not using the IRS Data Retrieval Tool is that there may be a higher risk of students being selected for Verification by the Department of Education. If this happens, MSOE’s Financial Aid Office will contact those students to request documents to verify items on their FAFSA.

2012 Work Study Earnings
Were you a Work Study student at MSOE (or another institution) between January 1, 2012 and December 31, 2012? If so, you need to report those earnings on your 2013-2014 FAFSA. When completing the “Student Financial Information” section of your FAFSA there will be a section titled “Additional Financial Information.” Please check the box next to “Taxable Earnings from Work-Study, Assistantships or Fellowships” and record the amount of your 2012 Work Study earnings in the box provided.

By the end of January you will receive a letter from MSOE’s Financial Aid Office regarding the amount of Work Study you earned from MSOE during 2012. Use the amount provided from our office to report your Work Study earnings on the FAFSA.

Spotlight:

  • MSOE sets a priority deadline of March 15th to encourage students and families to apply for financial aid EARLY! Completing the FAFSA by the priority deadline ensures that a student will receive as much financial aid as possible. Certain funds are “first-come, first-served” and the Financial Aid Office will run out of these funds even for eligible students with financial need.
  • Not interested in receiving financial aid? If you only wish to receive your meritbased, MSOE Academic Scholarship then you are not required to file a FAFSA. To ensure you are awarded your scholarship only and to avoid a lot of emails from our office, contact us in writing (a quick email to finaid@msoe.edu is sufficient) and state that you would like to waive the 2013-2014 FAFSA and be awarded your scholarship only. This email should come from the student directly. Students are also welcome to stop by the Financial Aid Office to make this request in person.
  • MSOE’s Federal School Code is 003868. This number can be entered when completing the FAFSA so that MSOE receives your financial aid application once submitted.

The Free Application for Federal Student Aid (FAFSA) is the only form needed to apply for financial aid. The FAFSA requires students, and parents of dependent students (students under the age of 24), to report income and asset information from the previous calendar year. Once completed, the FAFSA will calculate a student’s EFC (“Expected Family Contribution”). The EFC is an index used by schools to determine a student’s financial need and award financial aid, it is not the actual out of pocket that a family is required to pay.

ACH Online Payment Option is Now Available
MSOE’s bank (BMO Harris, formerly M&I) recently underwent a conversion and was experiencing some conversion issues. Fortunately the issues that were affecting the ACH payments have now been resolved and the ACH Payment Option is once again up and functioning properly. The Student Accounts Office knows this was an inconvenience for many students and families, so THANK YOU for your patience and understanding!

Reminder: Winter Quarter Invoices
Do not wait until the day you register for Spring Quarter to pay your balance because this can delay your registration process. Please remember that you can always view your statement online at my.msoe.edu. You are responsible for all charges regardless of whether or not you received a paper invoice in the mail. Cash, check or credit card (MasterCard, Discover or American Express) payments are accepted in person at the Student Accounts Office located in CC-437. For your convenience there is also a secure drop box where you can leave your payment. Credit card payments can also be made via fax or over the phone (Fax: 414-277-4535, Phone: 414-277-7130) and online. Click on the GO TO CASHNet button and make your payment today!

MSOE’s Financial Aid Office is currently accepting applications for the Wisconsin Space Grant Consortium Scholarship. One qualified student will receive an additional $1,500 scholarship for the 2013-2014 school year. For more information, please visit our Scholarships page. All application materials are due in the Financial Aid Office by February 1, 2013.

Investing in student aid is an investment in the future. That’s the Power of Financial Aid. To show that power, sign the petition to Wisconsin’s Governor and legislators in support of state student financial aid programs that help Wisconsin students at Wisconsin colleges and universities.

MSOE will be having a signature day on Monday, January 21st in the Great Room on the third floor of the Campus Center building. Stop by between 11am and 3pm to add your name to the petition. Why should you care? Because state funding provides support to keep college affordable for millions of students and families. College graduates generally earn more, have greater financial resources, and are more likely to be employed. And having a college degree is pretty awesome, too. The petition will be shared with Wisconsin legislators and Wisconsin’s Governor so we can show the Power of Financial Aid in Wisconsin.

WAICU Students’ Day
WAICU Students’ Day is February 27, 2013. This event is a great opportunity to share your personal story about financial aid—the Power of Financial Aid—with state legislators. Both students and parents are encouraged to attend. It’s not only a chance to put a face to financial aid, it’s also a great chance to get involved with students from other Wisconsin private, nonprofit colleges and universities so all can support more funding. For more information, and to register for the event, please visit WAICU’s website.

Visit www.fafsa.gov to complete your application today! MSOE’s priority deadline is March 15th.

What is the FAFSA?
The Free Application for Federal Student Aid (FAFSA) is the only form needed to apply for financial aid. The FAFSA requires students, and parents of dependent students (students under the age of 24), to report income and asset information from the previous calendar year. Once completed, the FAFSA will calculate a student’s EFC (“Expected Family Contribution”). The EFC is an index used by schools to determine a student’s financial need and award financial aid, it is not the actual out of pocket that a family is required to pay.

What will you need to complete the 2013-2014 FAFSA?
Federal PIN: Both the student and one parent are required to have a PIN in order to electronically sign the FAFSA. If this is your first year completing a FAFSA and you have never applied for a PIN before, go to the PIN website www.pin.ed.gov to Apply for a PIN. If you already have a PIN but do not remember it, go to the PIN website to Request a Duplicate PIN.

2012 Federal Tax Return & 2012 W-2s: The FAFSA requires applicants to report income and asset information from the previous calendar year. When completing the 2013-2014 FAFSA, tax and other financial information from 2012 will be used. If you are completing the FAFSA before your federal taxes are filed you can report on the FAFSA that you “Will File” and then use either your 2011 income figures (if it’s similar to your 2012 income) or use the Income Estimator option on the FAFSA. The more accurate income figures you report the less your financial aid could change when you eventually file taxes and update your FAFSA.

If you are completing the FAFSA after filing your federal taxes you can use a copy of your 1040, 1040A or 1040EZ to manually report the tax information requested. However, it is HIGHLY RECOMMENDED that you utilize the IRS Data Retrieval Tool (IRS DRT) on the FAFSA to transfer your tax information directly from the IRS. This option is available 3-8 weeks after filing your taxes (3 if filed electronically, up to 8 if filed by mail)*. Using the IRS DRT ensures that your tax information is reported accurately and may lower your chances of being selected for Verification.

*Announcement Regarding IRS Data Retrieval Tool for the 2013-2014 FAFSA
The Internal Revenue Service (IRS) announced on Tuesday, January 8 that it won’t begin accepting 2012 tax returns until January 30, which will delay the availability of data through the Department of Education’s IRS Data Retrieval Tool for the 2013-2014 FAFSA. The January 30 start-up date is eight days later than originally planned due to the January 2 enactment of tax law changes made to resolve the “fiscal cliff.” Since tax data is generally not available for retrieval for at least three weeks after a tax return is electronically filed, the earliest the IRS DRT on the FAFSA will have 2012 tax information available for retrieval will be late February.

 

MSOE encourages students to file the FAFSA by our priority deadline of March 15, so students may not want to wait until the IRS Data Retrieval Tool is available to file their FAFSA. One major drawback in not using the IRS Data Retrieval Tool is that there may be a higher risk of students being selected for Verification by the Department of Education. If this happens, MSOE’s Financial Aid Office will contact those students to request documents to verify items on their FAFSA.

2012 Work Study Earnings
Were you a Work Study student at MSOE (or another institution) between January 1, 2012 and December 31, 2012? If so, you need to report those earnings on your 2013-2014 FAFSA. When completing the “Student Financial Information” section of your FAFSA there will be a section titled “Additional Financial Information.” Please check the box next to “Taxable Earnings from Work-Study, Assistantships or Fellowships” and record the amount of your 2012 Work Study earnings in the box provided.

By the end of January you will receive a letter from MSOE’s Financial Aid Office regarding the amount of Work Study you earned from MSOE during 2012. Use the amount provided from our office to report your Work Study earnings on the FAFSA.

Spotlight
MSOE sets a priority deadline of March 15th to encourage students and families to apply for financial aid EARLY! Completing the FAFSA by the priority deadline ensures that a student will receive as much financial aid as possible. Certain funds are “first-come, first-served” and the Financial Aid Office will run out of these funds even for eligible students with financial need.

Not interested in receiving financial aid? If you only wish to receive your meritbased, MSOE Academic Scholarship then you are not required to file a FAFSA. To ensure you are awarded your scholarship only and to avoid a lot of emails from our office, contact us in writing (a quick email to finaid@msoe.edu is sufficient) and state that you would like to waive the 2013-2014 FAFSA and be awarded your scholarship only. This email should come from the student directly. Students are also welcome to stop by the Financial Aid Office to make this request in person.

MSOE’s Federal School Code is 003868. This number can be entered when completing the FAFSA so that MSOE receives your financial aid application once submitted.

The 2013-2014 FAFSA can be submitted to the Department of Education as soon as January 1st, 2013. We encourage you to file online for convenience. You can complete the FAFSA on the Web online at www.fafsa.gov.

The IRS Data Retrieval Tool is available 2-8 weeks after filing your 2012 Federal Income Tax Return. Use this tool to transfer your tax information directly from the IRS to your FAFSA electronically. Use of this tool is highly recommended! IRS to your FAFSA electronically. Use of this tool is highly recommended! However, if this function is not available to you before the March 15th priority deadline, report your tax information manually and submit your FAFSA (use estimates if your taxes are not filed yet).

REMEMBER: MSOE has a priority deadline of March 15th!

Don’t have a PIN or misplaced your PIN? You can request a PIN or a duplicate PIN by visiting www.pin.ed.gov. Our office encourages you to request your PIN early in order to avoid delays in applying for financial aid.

Investing in student aid is an investment in the future. That’s the Power of Financial Aid. To show that power, sign the petition to Wisconsin’s Governor and legislators in support of state student financial aid programs that help Wisconsin students at Wisconsin colleges and universities.

Sign the petition, then share it on Facebook and Twitter and ask your friends and family to sign it too. The petition will be shared with Wisconsin legislators and Wisconsin’s Governor so we can show the Power of Financial Aid in Wisconsin.

The MSOE Financial Aid Office is currently accepting applications for The Gordon K. Hatch ‘36 Founders Scholarship. This scholarship is an additional $3,334 award for the 2012-2013 school year and may be renewable if the recipient fulfills the agreed upon criteria listed.

To be considered a candidate for the scholarship the applicant must meet the following criteria:

  1. Be a qualified, full-time student with academic status as a sophomore or junior in the Fall of 2012
  2. Be seeking a professional, baccalaureate degree in Mechanical Engineering Technology or Mechanical Engineering with an expressed interest in mechanical design or energy systems from MSOE
  3. Maintain a MSOE minimum grade point average of 2.5 or higher on a 4.0 grading system
  4. Preference given to residents of Door County, WI area

A Hatco Corporation representative will interview candidates selected by MSOE as finalists for the scholarship awards.

Internship/Employment
In accepting a Hatco scholarship, the recipient must:

  1. Participate in, if offered, a compensated internship at the conclusion of the 2012-2013 academic year at the Hatco facility in Sturgeon Bay, WI. The internship may include employment during the academic year to be scheduled around the student’s academic obligations.
  2. Schedule permitting, be willing to attend selected MSOE professional and social functions as a Hatco scholar
  3. Be willing to consider the potential of full-time employment with Hatco
    following graduation

To apply: Please visit our Scholarships page for more information and to access the Scholarship Report Form.

***Deadline December 12, 2012***

WAICU Students’ Day is February 27, 2013. This event is a great opportunity to share your personal story about financial aid—the Power of Financial Aid—with state legislators. Both students and parents are encouraged to attend. It’s not only a chance to put a face to financial aid, it’s also a great chance to get involved with students from other Wisconsin private, nonprofit colleges and universities so all can support more funding. For more information, and to register for the event, please visit the WAICU’s website.

College Goal Wisconsin will be held Saturday, February 23rd and Sunday, February 24th at several locations throughout the state in order to walk students and parents through the FAFSA and financial aid process. Those in attendance will have the opportunity to complete the FAFSA from start to finish with volunteers on hand to offer one-on-one guidance. To find a location near you, visit College Goal Wisconsin.

For students living outside of Wisconsin, please visit College Goal Sunday National.

Payment for the Winter Quarter is due by Monday, December 10th, 2012. Invoices have been mailed and all students can view their account online as of Monday, December 3rd. If you have any questions about your balance due, payment plans, etc., please contact the Student Accounts Office at 414-277-7130 (local) or 800-886-6763 (toll free). You can also email Student Accounts at payments@msoe.edu.

CASHNet has been updated to make it easier to view your tuition bills. Please follow the directions below:

  1. Log into my.msoe.edu
  2. Click on “Students” tab
  3. Click on “Student Account Info” on the left side of screen
  4. Click on “My Account Info” on the left side of screen
  5. Click on “Go to CASHNet”
  6. Under “Your Bills” click on “View” button to the right of the billing statement listed and your current bill will be displayed

We strongly encourage you to give a parent (or other individual who is helping to finance your education) access to view your bills and pay your account online. By granting a parent or other person access to view your account it will NOT give that individual access to anything other than viewing the invoice and making a payment. They will not be able to see your grades, class schedule, financial aid information, etc. Follow the directions below to add a user:

  1. Follow the steps to view your bill online/ Go to CASHNet (see directions above)
  2. In box titled “Parent PINs” click “Add New”
  3. Fill out the required information and CASHNet will send your authorized user an email with the
    payment site link and PIN

Please feel free to contact the Student Accounts Office with any questions on this process!

Student Employment
There are several positions still available for the 2012-2013 academic year. Most positions do require you to be eligible for Federal Work Study, so please contact the Financial Aid Office to see if you qualify. If you are interested in working on campus, please visit the Student Employment page to view current job openings.

Current Scholarship Opportunities
Moore Oil Scholarship – Application deadline: Tuesday, November 27th
MSOE’s Financial Aid Office is currently accepting applications for the 2012-2013 Moore Oil Scholarship. This additional $5,000 scholarship will be awarded to one qualified student. Preference will be given to students seeking a professional, Baccalaureate degree from the Rader School of Business, or from the field of Industrial Engineering with full time standing as a junior in the Fall of 2012.

Due Friday, November 2nd

  • N.E.W. Industries Scholarship: Two qualified students will receive an additional $5,000 scholarship for the 2012-2013 school year. This scholarship may be renewable if the recipient fulfills the agreed upon criteria.
  • Boldt Company Scholarship: One qualified student will receive an additional $3,000 scholarship for the 2013-2014 school year.
  • The Modine Manufacturing Company Scholarship: One qualified student will receive a $5,000 scholarship, renewable if the student continues to meet certain criteria.

The National Student Loan Data System (NSLDS) can help. NSLDS is the U.S. Department of Education’s central database for student aid. Using NSLDS, students can access information regarding their loan servicers, loan amounts, outstanding balances, loan status and disbursements.

Visit NSLDS today (click on “Financial Aid Review”) to review all of your federal loan information.

Payment due date was September 17th, 2012. The Student Accounts Office did extend the deadline to October 31st, 2012. Balances paid in full by October 31st, 2012 will not incur any late fees.

Keep in mind if you still owe a balance on your student account you will not be allowed to register for any future quarters at MSOE. If you have any questions about your account please contact Student Accounts by calling 414-277-7130 or e-mail payments@msoe.edu.

You can make cash, check or credit card payments in person at the Student Accounts Office located in CC-437. For your convenience there’s also a drop box in which you can leave your payment. MSOE accepts credit card payments (MasterCard, Discover, American Express) via fax at 414-277-4535, over the phone at 800-886-6763, and online at my.msoe.edu (click on the GO TO CASHNet Button).

Due to circumstances beyond MSOE’s control, the ACH (Electronic Check) payment option is temporarily unavailable. We will send out an email when the issue has been resolved. Thank you for your patience!

How to cover an outstanding balance
Do you have a hold on your account because of an outstanding balance? Here are some financing
options that may help:

  • H.E.L.P. Payment Plan (immediate release of hold)
    Payment plan that allows you to make affordable monthly payments.
    *Contact Kristie Bonney at 414-277-2231 to set up your plan today
  • Federal Direct PLUS Loan (minimum processing of 3 days)
    A federally insured loan for parents of dependent, undergraduate students. Parents can apply for a loan up to their student’s Cost of Attendance. In the case of a parent who is denied the PLUS Loan, the student will be awarded an additional $4,000-$5,000 Direct Unsubsidized Loan. Apply online: www.studentloans.gov.
  • Alternative/ Private Student Loan (minimum processing of 2 weeks)
    A credit based loan in the student’s name with a credit worthy co-signer. For a list of participating lenders visit our Alternative Loans page.

Exit Counseling is a tool to assist in walking you through all of the important steps of repaying your student loans.

Exit Counseling will cover:

  • The importance of having updated contact information on file with your lenders
  • When you will enter repayment on your loans
  • Your repayment options
  • Options if you are not able to make your loan payments

Perkins Loan and/or MSOE Loan borrowers should contact University Accounting Services with questions. Contact them online, or call (800) 999-6227. Private student loan borrowers should contact their private lenders directly, as well.

Full-time enrollment must be maintained in order to remain eligible for scholarships. Full time enrollment is defined as being registered for 12 or more credits per quarter and is determined by your enrollment status as of 4:30 p.m. on Friday of week 1 of each quarter.

Initial scholarship reviews and revisions will be conducted at the end of a student’s 2nd full-time academic year of study. Students who have achieved a cumulative GPA (CGPA) of 3.01-4.0 at the time of review will receive an increase of $500 to the scholarship for the next academic year. Scholarship increases in subsequent years will be $500 if a student maintains a CGPA of 3.01-4.0 as determined at the end of year review.

Students who have never received a scholarship in the past, but who at the time of review have completed full-time studies in the previous academic year and have achieved a CGPA of 2.5-3.0 will receive an initial scholarship amount of $6,000 for the next academic year. Students who have achieved a CGPA of 3.01-4.0 will receive an initial scholarship of $8,000 for the next academic year. Subsequent adjustments will be addressed as stated above.

All New Students are required to fill out and submit a Financial Responsibility Acceptance Form and should also submit a Release of Student Financial Services Information Form (this form is optional). You must complete the following forms before you register for the Winter quarter:

1. Financial Responsibility Form (MANDATORY)
This form is required by the Federal Government and ALL STUDENTS MUST complete this form by September 1, 2012. You will only need to read through and sign off on the information once, however, if it is not completed a hold may be placed on your account and you will not be able to register for further quarters until this documentation has been reviewed, signed and submitted to the Student Accounts Office. If you have any questions as you are reading through the documentation, please contact the Student Accounts Office for further assistance.

If you would like to complete this form online, after reviewing the information, please print a copy for your records and CLICK ON THE FINANCIAL RESPONSIBILITY ACCEPTANCE FORM TAB. You will be asked to fill out your name and accept the terms and conditions of the document you have just reviewed. If you need further assistance please contact the Student Accounts Office.

If you have not filled out this form, please check with the Student Accounts Office. Holds will be placed on all accounts of those individuals who have not submitted their form. You can submit your form in person, or electronically through my.msoe.edu.

2. Release of Student Financial Services Information Form (OPTIONAL)
All students are encouraged to complete this form and submit it to the Student Accounts Office. This form allows both the Student Accounts and Financial Aid Offices to discuss your financial aid and student account information with the individual(s) or company(ies) you have authorized on the form. If our office does not have a signed form on file we will only give out financial information to YOU, the student. We will not even share your financial information with a parent, even if they are paying your bill, if they are not specifically authorized by you on the form.

This form can be changed at any time during your academic career at MSOE, however you are strongly encouraged to have an initial form on file with our office before classes begin. Please contact the Student Accounts Office with any questions or concerns.

Students that are receiving private scholarships should turn in all checks to the Financial Aid Office. Donors can also send scholarship checks directly to our office at the following address: 1025 N. Broadway, Milwaukee, WI 53202. If the check is co-payable to both you and MSOE we will need you to endorse the scholarship check. All funds will be transferred to your student account during the 2nd week of classes. If the check is received after the 2nd week, the funds will be processed and applied to your account upon receipt.

Your financial aid eligibility and charges are based on your schedule as of Friday of week 1 at 4:30pm. Any changes made to your schedule after week 1 could potentially result in the loss of financial aid and/or an unexpected balance owed to MSOE. If you have any questions about how your schedule change will impact your financial aid award, please contact the Financial Aid Office first!

Dropping below full-time status: Undergraduate students not enrolled in at least 12 credits per quarter are ineligible to receive their MSOE scholarships or grants for that quarter. Federal and state grants will be prorated based on the student’s enrollment. If you drop below full-time status prior to Friday of week 1 at 4:30 pm you will be charged per credit. However, if you drop below full-time status after Friday of week 1 you will still be charged full-time tuition even though you are taking less than 12 credits.

Withdrawing from all classes: Students who withdraw from all classes after the first week of school may not be eligible to receive all of the financial aid that was initially awarded. Students who withdraw or stop attending all courses prior to completing a minimum of 60% of a quarter will be required to repay the “unearned portion” of the funds received. In addition, a portion of the award that was used to pay for tuition, fees, books, etc. may also need to be repaid to the school. This is a federal regulation and only applies to students who withdraw from all classes. This does not apply to students who successfully complete at least one course in the quarter. Please visit our Refund Policy page for more information.

Satisfactory Academic Progress Policy for MSOE Financial Aid Recipients: In accordance with federal regulations, financial aid recipients are required to complete a minimum percentage of credits attempted, as well as maintain a cumulative grade point average (CGPA) that would lead to the attainment of a degree. Students must successfully complete at least 67% of cumulative credits attempted (this is also referred to as “pace”). Attempted credits include successfully completed credits (grades A-D), earned F’s, incompletes, withdrawals and courses that were grade replaced. Completed credits include successfully completed credits (grades A-D). Students must also maintain a 2.0 CGPA. Students who have not maintained a 2.0 CGPA or have not completed at least 67% of cumulative credits attempted at the end of a quarter will be placed on Financial Aid Warning. While on Financial Aid Warning, the student is still eligible for financial aid, but the student must reestablish a 2.0 CGPA or meet the minimum pace requirement by the end of their next quarter of attendance. If they do, the Financial Aid Warning is lifted; if they do not, their financial aid is suspended for their next quarter of attendance. Students can appeal the suspension of their financial aid. For a more thorough explanation of the Satisfactory Academic Progress Policy, please visit our website.

Students are able to charge their textbook purchases, made at the MSOE Bookstore, to their MSOE student account and will be billed for these charges on a subsequent monthly invoice. Students must present their MSOE student ID to the bookstore when purchasing their textbooks. This purchasing method is available to students during the two weeks before the term begins through the Tuesday of the second week (Please note that you must wait at least 24 hours after you have registered before you can charge your books this way).

Students can only charge books and supplies to their account; students cannot charge MSOE apparel or souvenirs to their account. Book slips are a privilege, a service we gladly provide to our students. What a book slip is not, is a right! Anyone abusing the usage of a book slip, will have their privileges revoked. Please do not abuse this privilege.

Also keep in mind your book slip purchases will not be on the initial invoice you receive in the beginning of each quarter. The book charges will be on the second invoice sent after charges are posted during the 1st week of classes.

If you will need additional funding to cover a balance please try to secure these funds A.S.A.P. to ensure there are no delays in paying your Fall 2012 balance by September 17th. Approximate processing time for a Federal Direct PLUS Loan completed online and signed electronically is 3-4 days, while processing of a private student loan can take up to 30 days.

Federal Direct PLUS Loan: This loan is for the parent of a dependent, undergraduate student. Interest accrues upon disbursement at a rate of 7.9% (fixed). Parents can choose to defer payment on this loan until after their student graduates (or drops below half-time status). The Direct PLUS Loan is in the parent’s name only and cannot be transferred to the student’s name. The parent is the only person responsible for the repayment of this loan. A parent interested in borrowing this loan should apply online at www.studentloans.gov.

Private/alternative student loans: Private student loans are borrowed in the student’s name with a parent (or relative or friend) as the student’s co-signer. Interest accrues on private loans upon  disbursement but, unlike the Direct PLUS Loan, interest rates vary quarterly (or even monthly), have no interest rate cap and may have loan fees up to 6%. Some private loan lenders do offer a fixed interest rate option but this is not common.

Visit our Alternative Loans page for more information on private student loans. For the 2012-2013 school year, MSOE recommends 4 different private loans: Sallie Mae Smart Option Student Loan, Union Federal Private Student Loan, Wells Fargo Collegiate Loan and Charter One TruFit Student Loan.

Students who are awarded Federal Work Study for the 2012-2013 school year can apply for positions now. Please visit the Student Employment/Work-Study page for more information and to view all open positions. Students, whether awarded Federal Work-Study or not, are eligible to work on campus. Some positions may indicate *Must be eligible for Federal Work-Study*, in which case non work-study students are not eligible for these positions.

Application Process:

  1. View current job postings*
  2. Determine if you have been awarded work-study by visiting your “my Financial Aid” account. If you have not been awarded work-study you may still be eligible for a work-study position. Positions still available as of October 1, 2012 can be filled by a student who was not awarded work-study. Students who are not currently awarded work-study but are eligible may receive an email from our office in October indicating their eligibility and permission to apply for jobs at that time.
  3. Complete the Student Employment Application and apply for a position (make sure to attach the application to your inquiry).
  4. Contact the supervisor to determine their interview process and hiring timeline.
  5. Once hired you must complete the Student Employment Contractand necessary Human Resource paperwork before beginning employment.

    *Please note that the website is updated when Human Resources is notified to add and remove positions. If you apply for a position and do not get a response from the supervisor please check the website to see if the position is still available.

Students awarded a Federal Perkins Loan will be sent a Master Promissory Note (MPN) in the mail starting the week of June 18th. The envelope will be stamped “Important Loan Documents.” Please complete the MPN in its entirety and immediately return it to MSOE.

If you previously borrowed a Federal Perkins Loan while attending MSOE and completed your entrance counseling and MPN, you are NOT required to complete anything. Your Federal Perkins Loan will automatically be applied to your account in the amount indicated on your Financial Aid Award Offer.

For more information regarding Perkins Loans, please click here.

Log into myMSOE to view your financial aid award offer, access financial aid documents and much more! If you are a current MSOE student and you have been awarded for the 2012-2013 school year your award offer is available to view online. Check your MSOE email often as this is the only way our office communicates with current students.

Please note: If you are a returning student you are not required to actively “Accept” your award offer. You are only required to take further action if you choose to decline any portion of your award offer. You can do this online, or in writing by emailing finaid@msoe.edu.

If you are an incoming MSOE student you will not have access to myMSOE until you are registered for classes by your Admissions advisor. Our office typically communicates with incoming students via mail only.

For assistance with any log-in issues, please contact the helpdesk at (414) 277-7288.

As a student loan borrower, you will be mailed information regarding the loan totals you have accrued while attending MSOE. In addition to your loan totals, you will also receive directions for completing the required exit counseling.

We invite you to visit our office to complete the counseling in person or you can complete it online: click here to access Direct Loan Exit Counseling.

Exit Counseling is a tool to assist you with every step in the repayment process of your student loans, including:

  • The importance of having updated contact information on file with your lenders
  • When you will enter repayment on your loans
  • Your loan repayment options
  • Options if you are unable to make your loan payments

For questions regarding a Perkins Loan or MSOE loan, please contact your loan servicer, University Accounting Services (UAS), or call (800) 999-6227.

The final Tuition Balances are now past due!  Spring Tuition balances were due on April 15, 2012.  If you have not submitted your payment your account has been assessed a late payment fee and you have been sent an updated invoice reflecting your current balance due.  Keep in mind that if you still owe a balance on your student account, this balance must be paid in full before you will be allowed to register for any further quarters at MSOE. Fall 2012 Registration begins soon.  PLEASE DO NOT WAIT!!  To avoid any registration issues, please make your payment today!  If you have any questions about your account please contact our office at (414) 277-7130 or send us an e-mail to payments@msoe.edu.

H.E.L.P Payment Plan
Sign up today for next year!!!  MSOE’s in-house payment plan, H.E.L.P. (Helping Everyone Learn and Pay), offers students monthly payment plans for amounts due. The student determines how much of their balance they wish to divide into monthly payments. Any amount not covered by H.E.L.P. will be due when billed. Please note: the 12-month payment plan for the 2012-2013 school year will begin on June 1st, so if you’re interested in this option please sign up in May. For further information, contact Kristie Bonney, H.E.L.P. Administrator/Senior Collection Specialist @ 414-277-2231 or via e-mail @ bonney@msoe.edu

Questions for Student Accounts and Helpful Answers:
Q: Can I register for classes if I still owe money on my Student Account?
A: No, School policy requires a zero balance in order to register for further terms at MSOE.

Q: How do I sign up for the HELP PLAN?
A: Call Kristie Bonney at 277-2231 for more information.

Q: When will Summer Tuition Bills be due?
A: Summer Tuition Invoices will be due by August 15, 2012.

Q: When will I get my Fall 2012 Invoice?
A: Fall 2012 Invoices will be mailed by August 1, 2012 with a due date of September 24, 2012.

Full-time students (12 credits or more) accepted into the Freshman-to-Master’s in Civil Engineering or Master of Science in Structural Engineering dual-degree programs are charged full-time undergraduate tuition rates and will receive undergraduate financial aid, even though they may be taking graduate courses. If a student enrolls in more than 19 credits, they will be charged the graduate per-credit rate for any credits above 19.

Students enrolled less than full-time (less than 12 credits) in an approved dual-degree program will be charged the standard per-credit charge based on the type and number of credits for which they enroll.

Please reference the 2012-2014 Graduate Academic Catalog for more information.

If you are enrolled in a dual-degree program and are interested in the Graduate Tuition Grant, click here for a full description of the Graduate Tuition Grant for B.S.-M.S. Dual Degrees.

Online Request

  • Go to www.irs.gov
  • Under the Tools section of the homepage click “Order a Tax Return or Account Transcript”
  • Click “Order a Transcript”
  • Enter your identifying information
  • In the Type of Transcript field, select “Return Transcript” and the Tax Year field, select “2011″

Telephone Request

  • Call the IRS at 800-908-9946
  • Enter your identifying information
  • Select “Option 2” to request an IRS Tax Transcript and then enter “2011”

IRS Data Retrieval Tool
You can transfer your 2011 Federal Tax Return information directly from the IRS to your 2012-13 FAFSA using the IRS Data Retrieval Tool. You can access this tool by making corrections to your previously submitted FAFSA. If the IRS Data Retrieval tool is used successfully, you are no longer required to submit a tax return transcript to the Financial Aid Office. You may be ineligible to use the IRS Data Retrieval tool if:

  • Your filing status is Married Filing Separately or Head of Household
  • You filed an amended tax return or filed a Puerto Rican or foreign tax return
  • You recently filed your taxes (less than 2 weeks if you filed electronically, less than 8
    weeks if you filed via mail)

2012-2013 FAFSA
It is time to file your Free Application for Federal Student Aid (FAFSA) for the 2012-2013 school year! Remember some funding is limited, so make sure to file your FAFSA before the March 15th priority deadline. This will help ensure that you receive as much aid as possible.

Please visit www.fafsa.gov to complete your 2012-2013 FAFSA today!

Misplace your PIN?
Have you misplaced or need to apply for a PIN? You can request a PIN or a duplicate PIN by visiting www.pin.ed.gov.

Remember both the student and one parent will need a PIN to sign the FAFSA electronically.

Important FAFSA Tip Regarding Your 2011 Federal Taxes!
The FAFSA will ask for your 2011 financial information. New for the 2012-2013 FAFSA, you can retrieve your 2011 Federal Tax information from the IRS website two weeks after your taxes have been filed electronically!

2011 Work-study Earnings
Were you a Work-study student at MSOE (or another institution) between January 1, 2011 and December 31, 2011? If so, you need to report those earnings on your 2012-2013 FAFSA.

When completing the “Student Financial Information” section of your FAFSA there will be a section titled “Additional Financial Information.” Please check the box next to “Taxable earnings from Work-study, Assistantships or Fellowships” and record the amount of your 2011 Work-study earnings in the box provided.

Don’t know your Work-study earnings? MSOE’s Financial Aid office emailed and mailed eligible students their 2011 Work-study earnings in January. Please be sure to include this amount on your 2012-2013 FAFSA form to ensure that you receive the appropriate benefits for all of your hard work. If you already completed your FAFSA without indicating your Work-study earnings, you are encouraged to make a correction to your existing FAFSA.

You are not alone. This is a common feeling among students but you don’t have to feel this way. It is a misconception that only certain majors, genders or ethnicities receive scholarship funds. That’s right, it’s a myth! There is scholarship money out there for everyone!

Not sure where to look for scholarship opportunities? Here are a few great
resources to use when searching for scholarships:

High School Guidance Counselors
Guidance Counselors are a great reference for local scholarships in your area.

Local Organizations
If you are a member of an organization, see if they offer a scholarship. If they don’t, see if similar groups do. For example if you are a bowler, see if your league or bowling alley has a scholarship, but don’t stop there. Call other national bowling organizations and other bowling alleys as well. But don’t stop there! Contact bowling suppliers and bowling product manufacturers. You might be amazed with what turns up.

MSOE Financial Aid Office
Donors will notify us of scholarships, and we notify students of these opportunities via our listserv. Be sure to keep checking your email for great scholarship opportunities!

Private Scholarship Web Sites
There are many sites available to search for scholarships. Most of these databases are programmed very simply. For example they would not direct any “science” scholarships to individuals who are searching for “engineering” or “nursing” as a major. Be sure to think broad when searching for
scholarships.

Below you will find a summary of important education credits and deductions to be aware of when completing your 2011 Federal Income Tax Return.  Please note for 2011, the Hope credit is not available.  However, you may be able to claim an American opportunity or lifetime leaning credit.

The American Opportunity Tax Credit
This credit offers a federal tax credit up to $2,500 credit per eligible student. Available only for the first four years of postsecondary education. Qualifying education expenses include tuition and fees and the costs of required course materials, such as books and supplies.  IRS publication 970, Chapter 2.

The Lifetime Learning Credit
You may be able to claim a lifetime learning credit for up to $2,000 for qualified education expenses paid.  There is no limit on the number of years the lifetime learning credit can be claimed for each student. Please note you cannot claim a lifetime learning credit and  an American Opportunity credit based on the same qualified education expenses.  IRS publication 970, Chapter 3.

Student Loan Interest Deduction
Student loan interest is interest you paid during the year on a qualified student loan.  It includes both required and voluntary interest payments. To help you determine your student loan interest deduction you should receive From 1098-E from you lender.  IRS Publication 970, Chapter 4.

For a complete list of the rules and regulation of tax benefits for education,
please refer to IRS Publication 970.

1098-T Forms
Your 2011 1098T form has been mailed to your legal home permanent address on file. This form will indicate how much required Tuition and Laptop Fees were charged for the 2011 calendar year, as well as any grants or scholarships received. It will not list payments.

To obtain payment information please log on to your my.msoe.edu account and print your  account history for reference.

To Print your account history:

  • Login to my.msoe.edu
  • Click on the Students Tab
  • Select STUDENT ACCOUNT INFO (Located on the left hand side of the screen)
  • Click on MY ACCOUNT BALANCES
  • Click on $0.00 Due
  • Your account history will be displayed.
  • Print for your use and reference.

Please keep in mind that the Student Accounts Office cannot give out any financial information over the telephone with regards to the 1098-T information.  We encourage you to utilize the website for your immediate convenience regarding any 2011 payment information.

If you have any questions, please contact the Student Accounts Office at (414) 277-7130.

Federal Direct Loan Changes

  • Interest  rate for the Federal Direct Subsidized loan will revert back to 6.8% for all subsidized loans first disbursed on or after July 1, 2012. (Current interest rate is 3.4% for 2011-2012 school year)
  • Interest subsidy during the six-month grace period have been eliminated for new Federal Direct Subsidized Loans disbursed on or after July 1, 2012 and before July 1, 2014.
  • Subsidized loans for graduate students have been eliminated effective July 1, 2012. (Note: Up to $20,500 in Federal Direct Unsubsidized loans are available for graduate students)
  • The up-front rebate on direct loans will be eliminated for loans

Federal Pell Grant Changes

  • Maximum Pell grant will remain $5,550 for 2012-2013.
  • Minimum award is 10% of maximum ($555). Pell grants less than that amount have been eliminated.
  • Eligibility is being reduced from 9 years to 6 years.

The 2012-2013 FAFSA is now available online!
Please visit www.fafsa.ed.gov to complete your 2012-2013 FAFSA today! MSOE’s Federal School code is 003868.

What is the FAFSA?
The Free Application for Federal Student Aid (FAFSA), is the only form needed to apply for financial aid.  The FAFSA asks for income and asset information for both the parents and student. This information will be used to determine financial aid eligibility.

What will you need to complete the FAFSA?

  • Federal PIN
    You will use a PIN to sign the FAFSA electronically. Both the student and one parent will need a PIN.

     

    Misplaced your PIN or don’t have a PIN? You may request a PIN or duplicate PIN by visiting www.pin.ed.gov.

  • 2011 Federal Taxes
    The FAFSA will ask for your 2011 financial information.  The 2012-2013 FAFSA allows you to retrieve your 2011 Federal Tax information from the IRS website, two weeks after your taxes have been filed electronically!

     

  • 2011 Work-Study Earnings
    Were you a work-study student at MSOE (or another institution) between January 1, 2011 and December 31, 2011?  If so, you need to report those earnings on your 2012-2013 FAFSA.

     

    When completing the “Student Financial Information” section of your FAFSA there will be a section titled “Additional Financial Information.” Please check the box next to “Taxable earnings from Work-study, Assistantships or Fellowships” and record the amount of your 2011 Work-study earnings in the box provided.

    Don’t know your Work-study earnings?  During the following month the MSOE’s Financial Aid Office will be sending out letters regarding any work-study earnings that you have made for the 2011 calendar year.  Please be sure to include this amount on your 2012-2013 FAFSA form to ensure that you receive the appropriate benefits for all of your hard work.  If you already completed your FAFSA without indicating your work-study earnings you are encouraged to make a correction to your existing FAFSA.