Financial Aid Policy

Financial need is the difference between your Cost of Attendance (COA) and your Student Aid Index (SAI) as determined by the FAFSA or CASFA applications minus any other need-based aid you are offered such as grants, need-based work-study, or other financial assistance. Other financial assistance is any other aid you have been awarded, which includes but is not limited to, scholarships, stipends, or prizes that you will receive based on your enrollment at MSU Denver. For students who receive a negative SAI, when calculating your financial need the numeric value is 0.

The COA is an estimated cost of your educational expenses that includes tuition, fees, books, university health insurance, room and board, transportation, and personal expenses. To view your COA, visit the Bursar’s Tuition and Fees page.

A combination of need-based and “self-help” aid, which includes unsubsidized student loans, private loans, or PLUS loans cannot exceed your COA.

Your initial financial aid package will assume full-time enrollment. If you enroll less than full-time, your aid will be prorated based on your enrollment status. The aid you will receive is based on several factors including your calculated EFC or SAI, your financial need, your Cost of Attendance, receipt of other financial assistance and the availability of funds. Most funds are awarded on a first-come, first-served basis, so we recommend you submit your FAFSA as early as possible but typically by March 1 of each year to be considered for most types of aid. Aid is awarded in the following order:

• Federal Pell Grants
• Financial assistance from other departments or outside sources including tuition assistance or waivers, stipends
• Scholarships from the university or outside agencies
• Grants (other federal, state and institutional)
• Work-study
• Federal Direct Loans

Nonresident students are not eligible for state grants but may be eligible for institutional grants, some scholarships and loans.

Most aid requires a student to be enrolled at least half-time. Half-time enrollment is a minimum of 6 hours for an undergraduate student and 3 credit hours for a graduate student. Some undergraduate students may be eligible for a prorated Pell grant amount at less than half-time enrollment.

We will lock your enrollment hours at the semester census date and adjust any aid as necessary. If you have a reduced hours of enrollment at census date, this may cause a reduction to your aid which may result in a balance on your student account that you will be responsible for.

New students who have a completed financial aid file will be mailed an estimated financial aid offer letter typically by mid-March for the upcoming award year. The estimated offer letter will help students plan for their educational expenses. The estimated award letter will be updated once tuition and fee amounts are set by the University for the upcoming academic year. The estimated offer may be subject to changes due to updates to the tuition and fee amounts or other reasons listed in the Financial Aid Award Adjustments section.

An official financial aid offer letter will be sent to your MSU Denver email account after tuition and fees for the upcoming academic year have been finalized. You can expect your official offer letter sometime in June or July for the upcoming academic year.

Continuing students who have a completed financial aid file will be emailed an official offer letter to their MSU Denver University email account typically in June or July for the upcoming year after tuition and fees have been finalized for the upcoming academic year.

Throughout the year it may be necessary to adjust your financial aid award. If so, you will receive a revised offer letter with your updated aid offer. If your financial aid is reduced after disbursement, you may owe a balance that you are responsible for. Some of the reasons we may adjust your award is as follows:

• A change to your enrollment status.
• Receiving other financial assistance after your initial aid offer. This would include the receipt of additional scholarships or stipends. We are required to reevaluate your financial aid package after the receipt of any additional financial assistance and may have to adjust your already offered or received aid as you cannot receive aid that exceeds your calculated need or, typically, your Cost of Attendance. If you know you will be receiving additional financial assistance from any source, it is important to contact us to discuss.
• Corrections to your FAFSA which may impact your EFC or SAI and impact your financial aid.
• The Department of Education notification of changes to your eligibility.
• Attending only one semester. Your financial aid package will typically be offered for the academic year, which includes the fall and spring. If you only attend one semester, your aid may be reduced and in certain circumstances, may cause a balance on your student account.
• A change to your residency status

Financial aid funds will be disbursed no sooner than 10 days before each semester start date if all requirements are met and you have a complete financial aid file and you are enrolled at least half-time. You can view any outstanding requirements on your MSU Denver Student Hub that may be preventing us from offering you a financial aid package. Your financial aid funds will pay your tuition and fees and if you have authorized to do so, other educationally related costs on your bill.

If aid exceeds your charges, you will be issued the remaining credit balance or “refund” through direct deposit if you have signed up for this or a check in the mail if you do not have direct deposit on your account. Direct deposit is the safest and fastest option to receive your refund, and we recommend signing up for direct deposit on your Student Hub.

A Pell grant eligible student who has a disbursement 10 days prior to the start of the semester and receives a refund may purchase their books and supplies with the refund amount.

If your file was not complete or you were not enrolled 10 days prior to the semester start, aid will disburse nightly afterwards.

The deadlines to submit verification documents are as follows:

• The deadline to submit complete verification documents for Direct Loans and Campus-based aid is 3 weeks prior to the end of your enrolled term
• The deadline to submit complete verification documents for Pell Grant is the earlier of 120 days prior to the end of your enrolled term or the federally published Pell Grant deadline date

If selected for verification, all documents you will be required to submit will be listed on your Student Hub.

Please review the requested documents carefully. Submitting an incomplete document will delay processing time.

If selected for verification, most students will typically be required to submit:

• MSU Denver’s Verification Form
• Verification of Household Size Form
• Tax and income information depending on your family’s circumstances.

Tax Filers

• A copy of your, your spouse’s (if applicable), and your parents’ (if considered to be a dependent student) Tax Return Transcripts OR A signed copy of your federal income tax returns and all filed schedules

How To Obtain A Tax Return Transcript From The IRS

Go to the IRS website.

Click “Get Your Tax Record”

Click “Get Transcript Online”

Individuals Filing An Extension

• A copy of the IRS’s approval of an extension beyond the automatic six-month extension for tax year
• Verification of non-filing from the IRS
• Copies of all your W-2 forms (or equivalent) for employment income
• If self-employed, a signed statement with the amounts of their Adjusted Gross Income (AGI) and U.S. income tax paid

Joint Filers Who Are No Longer Married

• When a dependent student’s parents filed a joint return and have separated, divorced, married someone else, or been widowed, the student must submit a copy of your IRS Tax Return Transcript (this can be requested at irs.gov) OR a signed federal tax return form with filed schedules
• A copy of each W-2 form for the parent whose tax information is on the FAFSA form
• An independent student must submit an IRS Tax Transcript (this can be requested at irs.gov) OR a signed federal tax return form AND the student’s W-2 forms if he or she filed a joint return and is separated, divorced, or a widow

Non-Tax Filers

• A W-2 form for each source of employment income
• Except for dependent students, a verification of non-filing (VNF letter) obtained from the IRS
  • The non-filer can get the VNF letter by sending IRS form 4506-T and checking box 7. Please keep a copy of the 4506-T for your records
• Other acceptable documentation in lieu of the VNF letter would be IRS documentation that states the IRS does not have a tax record for the requested year with a message that says “No record of return filed” or “No transcript on file”

Residents of The Freely Associated States (Republic of Marshall Islands, The Republic of Palau, or The Federated States of Micronesia)

• A copy of the wage and tax statement from each employer (substitute for W-2s)
• You must submit (except dependent students) a Verification of Nonfiling (VNF) letter from the IRS, attesting that you did not file a tax return
• Other acceptable documentation in lieu of the VNF letter would be IRS documentation that states the IRS does not have a tax record for the requested year with a message that says “No record of return filed” or “No transcript on file”

Individuals Who Can’t Get A Verified Nonfiling Letter (VNF) From The IRS or Other Tax Authority

• A copy of the IRS Form 4506-T that you sent to the IRS to request a verification of nonfiling letter. Most requests are processed within 10 business days so at least that amount of time must have elapsed before submitting a copy of your 4506-T to the Office of Financial Aid and Scholarships
• A signed statement asserting the nonfiler attempted but was unable to get the VNF. The statement must also confirm that the nonfiler has not filed and is not required to file a tax return for the relevant year
• For extension filers, the statement must also confirm that they have not yet filed a return for the tax year and must list the sources and amounts of income; if they are self-employed, it must include the amount of AGI and U.S. income tax paid
• *Note that in both cases, for non-tax filers and extension filers, the other required documentation (for example, W-2 forms) must still be provided

Filers of Non-IRS Tax Returns

• A transcript from a government of a foreign nation or a U.S. territory or commonwealth that has all the filer’s income and tax data to be verified
• A copy of the tax return, which must be signed by the filer or one of the filers of a joint return
• If the accuracy of the information on the signed copy of the return is questioned, the filer must provide a copy of the tax account information issued by the tax authority

Filers of Amended Returns

• A signed copy of the 1040X form that was filed
• You may import original tax information by using the IRS Data Retrieval Tool (DRT) on your FAFSA. If you’ve already done this, no action is needed. To use the DRT, log back in to your FAFSA at studentaid.gov OR
• Any IRS transcript that includes all the income and tax information required to be verified or a signed copy of the federal tax return and all filed schedules

Victims of Identity Theft

• A signed and dated statement indicating that you or a family member was a victim of tax related identity theft and the IRS is aware of it
• A tax return database view (TRDBV) transcript. You can obtain this by calling the IRS identity protection specialized unit (IPSU) at 800-908-4490
• Students who cannot obtain a TRDBV transcript may submit a copy of the tax return or another official IRS transcript or equivalent IRS document if it includes all the income and tax information required to be verified
• *Note that filers must first attempt to get a TRDBV before they can use a copy of the tax return or another transcript

Failure to submit verification documents by the deadlines may result in certain aid not being offered or a cancellation in some aid you have already received. This may cause a balance on your student account in which you would be liable to pay.

The U.S. Department of Education has established regulations to prevent fraud and abuse in the Federal Student Aid program by identifying students with unusual enrollment histories. Some students who have an unusual enrollment history have legitimate reasons for their enrollment at multiple institutions. However, such an enrollment history requires our office to review your file in order to determine future federal financial aid eligibility. If selected by the Department of Education, this must be resolved before you will receive financial aid.

At times, students are selected for unusual enrollment history after their financial aid has already been awarded. In these cases future financial aid disbursements will be held until your file is reviewed and resolved. If it is determined that you are ineligible for financial aid based on unusual enrollment history, any previous awarded and disbursed financial aid for the academic year will be returned to the appropriate sources and future disbursements will be cancelled. You will be provided with the opportunity to complete a semester of 6+ hours out of pocket to demonstrate your ability to earn academic credit successfully, at which point your unusual enrollment history can be re-appealed.

Definition of Unusual Enrollment History

The specific pattern the Department of Education uses to select students includes those students who have received a Federal Pell Grant and/or Federal Direct Loans at multiple institutions during the past four academic years. Once the Department of Education has indicated that a student has an unusual enrollment history, the Financial Aid Office must take action and review the academic history prior to determining federal financial aid eligibility for that student.

Appeal Process and What Will be Required of You

If selected to complete an Unusual Enrollment History Appeal (UEHAP), our office will notify you of what is required via a Missing Information Email sent to your msudenver.edu student email account. You are required to have received academic credit at any institution you received the Federal Pell grant or Federal Direct Subsidized/Unsubsidized loan while attending in those relevant academic years. If you are uncertain which schools will be relevant to your appeal you may review your Federal financial aid history at studentaid.gov.

Regaining Federal Student Aid Eligibility

Students that have been denied federal student aid based on an Unusual Enrollment History Appeal have the ability to regain financial aid eligibility by successfully completing one semester of at least 6 credits with at least a 2.0 semester GPA (2.25 GPA for students who do not have a good SAP status). Students can also obtain at least half time credit receiving at least a 2.0 GPA at another institution, at which point you may submit another UEHAP. If credit was obtained at a college other than MSU Denver, you must submit a transcript for review.

Bankruptcy cannot include student loans, however our system still notifies us & students currently. If this is the case, we will update this as DEFAULT to confirm that your student loans are in good standing.

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.