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Section III
Bemidji State University provides a comprehensive program of financial assistance to students totaling approximately $20 million annually. Scholarship, grant, employment, and loan programs are available from federal, state, institutional, and private sources.
Federal and state financial aid requires demonstrated financial need through the federal need analysis process. All grant, loan, and work-study applicants need to complete the Free Application for Federal Student Aid (FAFSA) each year to determine eligibility for need-based financial aid programs. A financial aid application is not necessary if applying for a scholarship only. Please refer to the scholarship section for application procedures and types of scholarships available.
The U.S. Department of Education will mail a renewal application to most students who applied for aid the previous year. Application forms for new applicants and those who did not receive a renewal application are available at the BSU Financial Aid Office starting approximately January 1 for the next school year.
To apply for financial aid, please complete the following:
(1) an Application for Admission,(2) a Free Application for Federal Student Aid and
(3) a BSU Financial Aid Application.
In addition
(4) Transfer students must have academic transcripts sent to the BSU Admissions Office from all prior institutions attended. Formal admission to the University as a regular student is a prerequisite to awarding financial aid.(5) Other forms and certifications may be required of students who are selected for verification by the U. S. Department of Education.
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All of the forms necessary to apply for financial aid may be obtained from the Financial Aid Office, Bemidji State University, Bemidji, MN 56601-2699.
The Office of Admissions and Scholarships administers scholarships at Bemidji State University. See the Scholarships section of the catalog for detailed information.GRANTS
Grants are monetary awards to students which do not have to be repaid unless through a correction or withdrawal process.
Athletic grants: The individual coaches of men's and women's athletics administer athletic grants. Grants are available for participation in most men's and women's sports. All awards become a part of the total financial aid package of the student and are subject to the satisfactory academic progress standard of the institution. Interested students should see the coach in their particular sport.
Federal Pell Grant: A Pell Grant Program award is determined when a student completes a Free Application for Federal Student Aid. All students requesting financial aid, including work and loan assistance, are first reviewed for a Pell Grant. Directions for applying for a Pell Grant, as well as other types of grants, loans, and work may be found in the application material.
Federal Supplemental Educational Opportunity Grant (FSEOG): FSEOG is a grant for exceptionally needy undergraduate students. The grant consists of 75 percent federal and 25 percent Bemidji State University funds. Awards are restricted to undergraduate students who have the "lowest family contribution" resulting from the Federal Need Analysis, with Pell Grant recipients receiving awards first.
Minnesota State Grant: Undergraduate Minnesota residents may apply for this need-based grant if they have not attended more than five years of postsecondary education, including trade schools, technical colleges, and all other types of institutions. All applicants are automatically reviewed for Minnesota State Grant eligibility in the processing of the financial aid application.
STUDENT EMPLOYMENT
Bemidji State University provides employment opportunities to approximately 1,500 students annually. The $2 million student payroll consists of funds from Federal College Work-Study, State of Minnesota Work-Study, and the Regular Payroll. The Financial Aid Office awards work-study jobs as part of the needy student's financial aid package until funds are exhausted. Priority is given to returning student employees. Regular Payroll positions, however, are awarded by the various departments on campus and do not require a student to apply for financial aid. Students should review the Student Employment Bulletin Board, near the main lobby of Deputy Hall or on the BSU Web site, for the departments with vacancies and the name of the person to contact.
LOANS
Student loans are available for students who demonstrate financial need, as well as for those who need help in meeting the student and/or parent contribution resulting from the Federal Need Analysis. Federal Direct and State of Minnesota Student Educational Loan Fund (SELF) loans require an entrance interview prior to the disbursement of the first check. In addition, an exit counseling session is required for all federal loans.
Federal Subsidized Direct Loan: (Federal government pays the interest during the in-school period on this need-based loan.) The program charges a fee which is subtracted from the face value of the loan prior to disbursement. Loans are awarded after all scholarships, educational monetary awards (including non-institutional), grants, and work-study have been packaged.
Federal Unsubsidized Direct Loan: (Student pays the interest during the in-school period or allows it to accumulate.) A student whose need has been met with other aid or who demonstrates no financial need through the Federal Need Analysis test is not eligible for a subsidized loan but may be considered for an Unsubsidized Direct Loan. The loan may be taken to fund the student's or parents' contribution expected by the Federal Need Analysis.
Mandatory loan counseling is required of all Federal Direct Loan recipients. This may be done on the Web, at lo-online.ed.gov/entrance_counseling. Mandatory exit counseling for Federal Direct Loan recipients is also required. For further information, see www.ed.gov/offices/OSFAP/DirectLoan/.
Federal Perkins Loan: This low interest federal loan is awarded to a limited number of early applicants who have the lowest family contribution. Available funds are primarily through the collection of prior loans to Bemidji State University students and are limited to high need applicants.
Federal Parent Loan for Undergraduate Students: (PLUS): assists, parents who wish to borrow to meet educational needs of their dependent children. The loans are variable interest loans and require a credit check by the lender. To apply, complete the Free Application for Federal Student Aid and the separate PLUS application form available at the Financial Aid Office.
Student Educational Loan Fund (SELF): The State of Minnesota has implemented the variable interest SELF loan for students from any state who enroll in a Minnesota higher education institution. A student may utilize this loan to assist with the student and parent contribution resulting from the need analysis. Interest is variable and is paid quarterly by the student. A credit check of the cosigner is conducted by the program. To receive a SELF loan, you must apply for other financial aid first. A separate SELF loan application form is also required. Mandatory SELF loan counseling must be completed on the Web, at www.mheso.state.mn.us/self/self.cfm.
To be continued on financial aid, a student must meet all of the following satisfactory academic progress standards at the end of each term. All credits indicated are semester credits.
Appeal: A student terminated from financial aid for failure to meet the satisfactory academic progress standards may appeal the decision. Reasons for an appeal include undue hardship based on the death of a relative, injury or illness, or special circumstances as determined by the Financial Aid Review Committee and the documentation provided by the student.
RETURN OF FEDERAL FUNDS REQUIREMENT FOR STUDENTS WHO DO NOT COMPLETE A TERM
Withdrawal from all classes or ceasing to attend all classes after receiving federal and state aid is regulated by law. If you totally withdraw or cease attending prior to 60 percent of the term being completed, you will be required to repay a substantial portion of the funds you received back to the aid programs. The earliest date to withdraw without repayment obligations is November 6, 2001, for fall semester 2001 and April 2, 2002, for spring semester 2002. If no withdrawal date is available, the mid-date (50 percent) of the semester may be used.
The Accounting Office will determine your repayment based upon federal and state procedures, your date of withdrawal, type of aid awarded, and your tuition, fee and residence hall charges. The repayment amount is considered aid you were not eligible to receive because you did not complete the term, necessitating the repayment of funds. Failure to repay will prevent future registration at BSU and initiate delinquent collection procedures, which will adversely affect your credit rating.
Actual 2000-01 Sample Withdrawal Case: A student received a $1,203 Federal Direct Loan and a $1,650 Federal Pell Grant. The student completed only 47 percent of spring semester, withdrawing on March 11, 2001, and was required to repay $1,189 of the $2,853 total aid received.