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FAQ
The SAI is the calculated number you and your family are assigned after filling out the FAFSA. The Department of Education uses the data provided on the FAFSA to determine your SAI.
Your SAI is used to determine your financial aid eligibility for most need-based financial aid awards including grants and other need-based assistance.
Students can view their awards on the Student Hub by following the steps below:
- Navigate to the Student Hub.
- Click on “Student Profile (Self-Service Banner).”
- Select the four squares at the top left, often described as the menu button or the “waffle.”
- Navigate to the Financial Aid tab under the “Students” section.
- Select the “Award Offer” tab.
- Scroll to the bottom of the “Award Offer” tab, review aid, and click “Confirm” once you are ready to accept/decline your financial aid.
*This is also where you can accept the Terms & Conditions (TIVATH).
The FAFSA is the first step in determining eligibility for financial aid. Some students will need to provide additional documentation to the Office of Financial Aid and Scholarships (OFAS) before any financial aid can be offered.
Any outstanding requirements or documents will be listed on your Student Hub. We cannot process or offer you any financial aid until you submit all requested items.
If your financial aid file is complete, the earliest funds can be disbursed is approximately 10 days prior to the beginning of the term you are enrolled in. Afterwards, disbursement is run nightly.
Your financial aid funds will be sent directly to the Bursar’s office to pay for any outstanding tuition and fee charges. If you have additional financial aid funds after your charges have been paid, they will be sent directly to you.
- Students who have signed up for Direct Deposit will have their funds directly deposited into their checking or savings account.
- Students who did not sign up for the Direct Deposit will have their refund check mailed out the Friday after their funds disburse.
You may get directions on how to enroll in Direct Deposit via the Office of Bursar website here. Please contact the Office of the Bursar for assistance.
The Cost of Attendance, sometimes referred to as the student budget, is an estimate of a student’s educational expenses for a period of enrollment. The Cost of Attendance is used to establish a student’s financial need, and sets a limit on the total amount of financial aid a student may receive.
The COA includes direct costs (tuition and fees) that are paid directly to MSU Denver, and indirect costs that you may accrue as a student (such as books and supplies, housing, and transportation) that you are responsible for paying yourself.
MSU Denver has its own scholarship application that opens on December 1 with a priority deadline of March 1 for the upcoming year. It is recommended that all students try to complete this application before March 1. In addition, there are outside resources for scholarships that can be explored by students on their own time.
Please visit our scholarship page to apply to MSU Denver’s scholarship application and also review other external scholarship opportunities.
Grants are need-based aid and eligibility is determined based on the financial and family information you provided on your FAFSA or CASFA.
However, if you have experienced a change in your family’s financial situation such as a job loss, a reduction of employment hours or pay, or other changes that has impacted your financial situation, you may submit an Income Adjustment Appeal to the Office of Financial Aid and Scholarships. If approved, you may become eligible for need-based financial aid including grants.
You can find the Income Adjustment Appeal located on our Student Forms page.
The Department of Education determines dependency status based on the information you provide in the “Student Personal Circumstances” or the “Student Other Circumstances” sections of the FAFSA.
If none of those circumstances apply to you, then you are typically considered dependent for FAFSA purposes and will need to include your parent(s)’ information on the FAFSA.
However, if you have indicated that you have Unusual Circumstances on your FAFSA, you may submit a Dependency Override Appeal (DEPFAM) to be considered as an independent student based on your family situation.
If you do not have unusual circumstances that would qualify you for a Dependency Override Appeal, but your parents are unwilling to provide their information on the FAFSA, you may indicate on the FAFSA that you’d like to apply for a Direct Unsubsidized Loan only. In addition you will need to submit a No Parental Info (NOPAR) form to the Office of Financial Aid and Scholarships. Please note that if you apply for a Direct Unsubsidized Loan only option, you will not be eligible for any additional financial aid.
You can find all student forms here.
Work Study is a financial aid award that provides paid jobs for students who need to earn a portion of their educational expenses. Work-study funds come from the state and federal government depending on which award the student receives. Funding is limited and not guaranteed to all students.
Students earning money through work study are subject to Financial Aid stipulations pertaining to credit hours and Satisfactory Academic Progress.
To qualify for work study, students need to submit the Work-Study Request Form. Students can find this form, along with other important eligibility details, on the work-study website.
Please note: After submissions of the work-study request form reach capacity, a waitlist is created for a limited time. Once 100 students join the waitlist, the waitlist is closed for that academic year.
Beginning Fall Term 2024, all MSU Denver students may qualify for the Roadrunner Promise SAI 0 by:
- being a Colorado Resident as determined by MSU Denver Admissions
- authorizing Colorado Opportunity Fund (COF) each term
- being enrolled in at least one class each term
- Submitting a FAFSA by the published deadline
- completing all financial aid requirements by published deadline
- not being eligible for the RRP $60k program as a first-time student
- demonstrating an SAI of 0 or less based on annual submission of the FAFSA or CASFA
- meeting Satisfactory Academic Progress standards (2.0 cumulative GPA and 67% completion rate)
MSU Denver students may qualify for the Roadrunner Promise 60K Adjusted Gross Family Income (AGI) by:
- Being a first-time college student.
- Being a Colorado resident as determined by MSU Denver Admissions.
- Authorizing Colorado Opportunity Fund (COF) each term.
- Taking a full-time load of courses each term.
- Submitting a FAFSA by the published deadline
- Completing all financial aid requirements by August 1.
- Meeting Satisfactory Academic Progress standards (2.0 cumulative GPA and 67% completion rate).
For more details on Roadrunner Promise including published deadlines, visit our Roadrunner Promise website.
For more information on the Indigenous and Native People’s Grant, including eligibility and deadlines, please visit our Indigenous and Native Peoples’ Grant website.
A student needs to be enrolled at least half-time to receive most types of financial aid including student loans.
Half-time enrollment for an undergraduate student is at least 6 credit hours.
Half-time enrollment for a graduate student is at least 3 credit hours.
If you withdraw from all your classes and/or receive all F’s you will go through a calculation determining how much aid you earned and how much you will owe back. For a more detailed explanation as to the policy and procedure of withdrawals please refer to our website at https://www.msudenver.edu/financial-aid/undergraduate-students/#manage-aid
Please contact the Office of Financial Aid for additional information.
The Department of Education requires institutions to have a Satisfactory Academic Progress (SAP) policy that monitors a student’s progression towards graduation. You must be meeting our SAP policy in order to maintain eligibility for most financial aid awards.
To view MSU Denver’s undergraduate SAP Policy, please visit our undergraduate page.
To view MSU Denver’s graduate SAP Policy, please visit our graduate page.
You can set-up a Payment Plan through the Bursar’s Office. Find more information on the Payment Plan website.
Financial Aid Holds & Resolution
Hold Code:
FP – Financial Aid Proration Hold
Reason for Hold:
Per federal regulations, graduating seniors who are only attending one semester of an academic year must have Subsidized or Unsubsidized Federal Direct Loans prorated.
Resolution: Students planning on graduating at the end of the fall semester should submit the Graduating Seniors Loan Proration (FAPRO) form found on our Forms Page.
Hold Code:
GR – Possibly Graduating Hold
Reason for Hold:
Records indicate that the student may have graduated and is no longer degree seeking
Resolution: Complete the GRADTE form found on our Forms Page.
Hold Code:
OA – Potential Over-Award Hold
Reason for Hold:
Placed when financial aid awards may be over their unmet need and/or Cost of Attendance.
Resolution: No action required from students. The Office of Financial Aid and Scholarships will review your awards and cancel the hold.
Hold Code:
OV – Annual Loan Limit Review
Reason for Hold:
Placed on student files where a student appears to have Federal Direct Loans at multiple schools within the same financial aid award year.
Resolution: The Office of Financial Aid and Scholarships will conduct a review of your loan eligibility after you have completed any outstanding requirements, have received an initial financial aid award, and are registered for classes. Once we have completed the review of your eligibility, any necessary revisions or reductions to your loan offers will be made and the hold on your account will be expired.
Hold Code:
SS – Social Security Number Hold
Reason for Hold:
Placed on student files that have different SSNs reported for the student in Banner and their FAFSA.
Resolution: Submit a copy of your social security card or a document from the Social Security Administration Office that has been signed by an authorized person.
Hold Code:
TM – Transfer Monitoring Hold
Reason for Hold:
Placed on each student’s financial aid account at least 7 days prior to the beginning of a semester. During this time, our institution will upload current information from the National Student Loan Data System.
Resolution: This hold expires automatically after 7 days. No action is required.
Hold Code:
UE – Unusual Enrollment
Reason for Hold:
Placed on student files flagged for potentially unusual enrollment history by the U.S. Department of Education.
Resolution: The Office of Financial Aid and Scholarships will conduct a review of your academic transcripts and financial aid history records. If MSU Denver has not received transcripts from all schools where a student received a federal student aid disbursement, or if a student failed to earn academic credit at a school where they received federal student aid, they may be required to submit an Unusual Enrollment History Appeal (UEHAP), which can be found on our Forms Page.
Hold Code:
UW – Unofficial Withdrawal
Reason for Hold:
Placed on student files due to failing to complete any credits during the previous semester and may be subject to Return of Funds calculation.
Resolution: The Office of Financial Aid and Scholarships will review your records and cancel the hold. Students will be contacted via email if further actions are required.
Glossary of Terms
Aid Year (academic year): The academic year starts in the Fall, typically in August and ends in May for most students. Students who take summer courses are still counted under the same aid year for classes that run from June 1 to July 31.
Aggregate Loan Amounts: The lifetime limit on the amount of loans a student can receive in subsidized and unsubsidized loans. See the Debt Management Loan Limits page for more information. Additional Resources: Debt Management
Annual Loan Limits: The amount in loans a student is eligible for during a school year. See the Debt Management Loan Limits page for more information.
Award: The funds available to the student for the school year based on FAFSA. Used interchangeably with package (awards package). See the Understanding Financial Aid page for more information.
Budget: The cap placed on the amount of funds a student can receive in a school year to cover tuition, fees, and other qualifying necessities such as books and room and board. Used interchangeably with Cost of Attendance. See the Understanding Financial Aid page for more information.
Cost of Attendance: The cap placed on the amount of funds a student can receive in a school year to cover tuition, fees, and other qualifying necessities such as books and room and board. Used interchangeably with budget. See explanation here: https://www.msudenver.edu/bursar/tuition-and-fees/
Default: Default occurs when a student who is required to repay their student loans fails to do so for several months and becomes delinquent. If the loan delinquency exceeds 270 days the student is considered to be in default. Default makes the loan due in full immediately. Default appears on the student’s NSLDS record and prevents the student from receiving any federal aid until the default is cleared. Clearing default requires communication between the company holding the loans and the student. It typically requires a nine (9) month consecutive payment plan.
Note: Default is damaging to a student’s credit and it can lead to the garnishment of wages, withholding of tax refunds and possible legal action. Additional Resources: Debt Management
Dependent (student): A student who is determined by federal regulations to partially or totally rely on parental support. These students are:
- not married
- under the age of 24
- not a veteran of the armed services
- do not have a child for who they provide 50% or more support
Additional Resources: Student Dependency Questions
Dependent (household): Any person who the student or the student’s parents support more than 50% who also lives in the household. A child cannot be counted in the household if the student or student’s parent pays child support.
Disbursement: The delivery of funds from their source (i.e. Department of Education, banks, employers, etc.) to the institution to pay for tuition and fees with the leftovers to be given to the student. Additional Resources: Disbursement and Accepting Aid.
EFC: The acronym for “Expected Family Contribution”. This is the number calculated through the FAFSA based on the student’s (and parent(s)’ when applicable) tax and other financial information. This number determines the student’s award eligibility. Additional Resources: Understanding Financial Aid.
Enrollment Status: Enrollment status is determined by the number of credits a student is enrolled in. The different statuses are:
- Full-time
- ¾ (three-quarters)-time
- Half-time
- Less than half-time
Additional Resources: Enrollment and Proration Information under Disbursement of Aid
Entrance Interview: The Entrance Interview requirement is designed to educate students on the loans they are accepting, repayment of those loans, and forbearance/deferment options. If this requirement is not met, no student aid will be disbursed. Students only accepting grants are not required to do an Entrance Interview. The Entrance Interview is external to MSU Denver and financial aid. Students must go to www.studentaid.gov to complete this process.
Excess: When a student is considered in excess, NSLDS shows that the student has borrowed more than the aggregate loan amounts. Excess prevents students from receiving any federal student aid. See the Debt Management Loan Limits page for more information. Additional Resources: Debt Management
FAFSA: The acronym for “Free Application for Federal Student Aid”. Available at https://studentaid.gov/h/apply-for-aid/fafsa. This application is required to receive any federal loans or grants and certain types of work-study. It calculates the student’s need based on the prior-prior year’s tax forms and other financial information. Some educational funding such as certain scholarships and tuition reimbursement programs do not require a FAFSA. Additional Resources: Types of Aid under Federal/State Self-Help Aid.
FERPA: The acronym for “Federal Educational Rights and Privacy Act” . This law dictates what information the institution is and is not able to release without the student’s permission. Please see the FERPA for more information. Additional Resources: FERPA (Office of the Registrar)
Financial Aid Suspension (separate from Academic Suspension): Financial aid suspension occurs under the SAP (Satisfactory Academic Progress) policy. It requires students to maintain certain criteria in order to receive or continue to receive financial aid. Please see the Satisfactory Academic Policy for Undergraduate and Graduate students for more information.
Grace Period: After a student graduates or otherwise falls below six (6) credit hours they enter grace period which is a series of months during which the student does not have to begin paying back their loans. It is six (6) months for Stafford loans and nine (9) months for Perkins loans. PLUS loans do not have a grace period.
Grant: Grants can be federal or private aid that, unlike loans, students are not required to pay back. These are typically need-based aid. At this time, there are not any grants available for graduate students. For a list of federal grants available and their requirements please see the Types of Aid page.
Independent (student): A student who is determined by federal regulations to support themselves without a required assistance of a parent. These students are any combination of:
- Married
- 24 years of age or older
- A veteran of the armed services
- have a child for who they provide 50% or more support.
Student Hub: The Student Hub is designed to give students the convenience of being able to handle their financial aid and other administrative services without having to be on campus. From the Student Hub students are able to:
- Accept loans
- Accept terms and conditions
- Check on the status of their financial aid
- Receive important communications
Note: MSU Denver’s official means of communications is campus email. It is important to habitually check your email, which is available through Student Hub.
Need: Is the amount of funding that the student can possibly receive after EFC, awards, and resources are subtracted from the student budget. It is the “room” left over for more money to possibly pay in if the student is eligible and funds are available. Additional Resources: Understanding Aid and Types of Aid.
Official Withdrawal: Official withdrawal occurs when a student formally drops all of the courses they are taking in a semester. Formally dropping classes requires the student to follow the procedures outlined by the Registrar. Official withdrawal students are required to go through Return of Funds. See the Withdrawals page for more information. Additional Resources: Satisfactory Academic Progress Undergraduate and Graduate.
Overlapping loans: Overlap occurs when NSLDS reports that a student is attempting to take financial aid out at two different schools during the same loan period. Since students are only allowed to receive aid at one school at a time, it is their responsibility to make sure that all aid is cancelled off when they transfer out of one institution to another in the middle of an aid year. Overlapping loans prevents all federal aid from disbursing. Additional Resources: Undergraduate Transfer Students.
Package (packaging): The funds available to the student for the school year based on FAFSA. Used interchangeably with award.
Proration: Proration is the calculation of certain awards, such as grants based on the number of credits a student is enrolled in. Please see the Enrollment and Proration Information under Disbursement of Aid.
Professional Judgment (PJ): The Office of Financial Aid and Scholarships has to ability to reevaluate a student’s file based on extreme or unusual situations and circumstances. Students are able fill out a PJ or “Consideration for Professional Judgment” form (available on the Forms Page). Submission of this form does not guarantee any changes or an increase of a student’s financial aid. Additional Resources: Extenuating Circumstances under Managing Aid.
Promissory Note: A promissory note or master promissory note (MPN) is a legally binding contract signed by the borrower agreeing to pay back any loan money borrowed as dictated by the terms and conditions outlined in the note. The promissory note is external to MSU Denver and financial aid. Students must go to www.studentaid.gov to complete this process. Additional Resources: Understanding Financial Aid.
Repeat Coursework (Financial Aid): MSU Denver ascribes to a Last Grade Stance policy which allows a student to replace a grade they received in a class by retaking that class. For financial aid purposes, a failed course can be repeated with financial aid coverage multiple times until a passing grade is received. Courses that have ever received a passing grade may be retaken only once more and be covered by financial aid. Any additional repeats of the course will not be eligible for financial aid. Please see the Repeat Coursework Policy for Undergraduate and Graduate under Disbursement of Aid for more information.
Return of Funds (ROF): Return of Title IV funds occurs when a student has officially or unofficially withdrawn from classes in the middle of the semester. ROF determines whether or not a student is required to pay back a portion of federal aid received for the semester not to exceed 50%. Professors are required to report last date of attendance for all students who fail their courses. Depending on the date specified the student may not have to pay back any of the aid they received. See the Withdrawal page for more information. See the information about Withdraws here: https://www.msudenver.edu/financial-aid/undergraduate-students/#manage-aid
SAP: The acronym for “Satisfactory Academic Progress”. Students are required to meet certain educational criteria in order to receive federal and institutional aid. These criteria include:
- Cumulative completion rate
- GPA
- The ability to complete an undergraduate degree within 150% of credits required to complete your degree
Additional Resources: Satisfactory Academic Progress for Undergraduate and Graduate.
Additional Resources: Withdrawals
SAPAP: Short for Satisfactory Academic Progress (SAP) Appeal. It is a requirement to submit an appeal when a student fails to meet the terms outlined in the SAP policy. Students should make sure to turn in all relevant documentation and statements for the appeal process. Please see the Satisfactory Academic Policy for Undergraduate and Graduate for more information
SAR: The acronym for “Student Aid Report”. It is a summary of the information put into the FAFSA. It indicates any Pell eligibility and contains the EFC.
Subsidized Loan: Subsidized loans have interest that is “subsidized” or paid for by the federal government during the time the student is in school. Interest does not accrue or gain until after the student is out of school and out of his or her grace period. All loans are required to be repaid. Additional Resources: Debt Management and Types of Aid
Title IV Funding: Any aid distributed by the federal government. Includes Stafford Subsidized, Unsubsidized, and PLUS loans, and Pell and SEOG grants. Additional Resources: Types of Aid
Unmet Need: There are instances when a student receives all of the aid that they are eligible for through the initial packaging, but it does not cover all of their need (COA – EFC = Need). This gap is called unmet need (COA – EFC – Award package = Unmet need).
Unofficial Withdrawal: A student is considered to have unofficial withdrawn from classes when he or she does not formally drop them. Essentially an unofficial withdrawal is when the student stops going to class and does not contact the University about formally dropping the classes. Students who unofficially withdrawal are required to go through Return of Funds. Additional Resources: Undergraduate Withdrawals and Graduate withdrawals.
Unsubsidized Loan: Unsubsidized loans do not have interest “subsidized” or paid for by the federal government while the student is in school. Interest accrues while the student is in school, deferment, and grace period. Students are typically offered the opportunity to pay the interest on unsubsidized loans monthly while in school. All loans are required to be repaid. Additional Resources: Debt Management and Types of Aid
Verification: This process ensures that all of the information reported on the FAFSA is reported correctly. It requires taxes and W-2’s, and the appropriate form to be filled out completely. No aid will disburse without the completion of a requested verification packet. Additional Resources: Forms