Missouri Family Education Loan Program

The MissouriThe Missouri State Scholarship Program (MSSP)

The Missouri State Scholarship program offers scholarships to undergraduate students who maintain at least a 2.75 GPA or its equivalent while pursuing an associate degree or baccalaureate degree. Eligibility requirements depend on what type of degree the student chooses. To qualify for the scholarship, applicants must meet the following criteria:

bebe enrolled full time at an accredited institution of higher learning.learning.

have a cumulative grade point average of at least 2.75have a cumulative grade point average of at least 2.75

Maintain satisfactory academic progress while attending college.college.

meet financial need criteriameet financial need criteria

mustmust be either a U.S.U.S. citizen or have lawful permanent resident status in the United States.States.

mustmust apply for the program and receive approval before enrolling in any postsecondary educational programs.programs.

Scholarship awards vary based on a number of factors,factors, including the applicant’s family income level, the year the application was submitted, whether the student lives in a rural area, and the student’s major field of study. Students may apply once each year for the scholarship.

Obtain a Pell GrantObtain a Pell Grant

Students who attend public colleges and universities are eligible for federal Pell Grants. These grants are awarded to students who demonstrate financial need. In order to qualify, students must complete the Free Application for Federal Student Aid (FAFSA). While not directly related to MSSP, students who do not qualify for federal aid should take advantage of Missouri’s free tuition assistance programs.

MTAP (Missouri Tuition Assistance Plan)MTAP (Missouri Tuition Assistance Plan)

This is an optional state-fundedstate-funded program that provides scholarships and loans for low-income students to attend private and parochial schools. MTAP applies only to out-of-state students who reside in Missouri. The amount of financial assistance varies depending on the school attended and the student’s financial situation. Scholarships are paid monthly,monthly, while loans require interest payments over the course of a semester or term. Thosewho have who have already graduatedgraduated from an accredited high school or earnedearned their GED can reapply for the program until they reach age 23. Both students and theirparents or guardians parents or guardians must submit an application.

Missouri Family Education Loan Program

2. in-state2. in-state tuition & fees;3. tuition 3. tuition assistance, based on need;and 4. need-based and 4. need-based loan forgiveness after 20 years of payments, if completed at a Missouri college or university. 4. There will be no repayment until the program is completed.4. There will be no repayment until the program is completed.5. Loan payments can be deferred for up to six months.5. Loan payments can be deferred for up to six months.6. May be combined with Missouri Work First-aFirst-a job training benefit for low-income individuals and families.

In-state tuition + $20 per credit hour (per semester).semester).

Noloans are loans are forgiven until you complete your degree.degree.

No repayments until you graduate.graduate.

cancan be paid off sooner than 20 years.years.

It can It can not exceed maximum state aid.aid.

Missouri Family Education Loan Program

MissouriFamilyEducationLoanProgram

The MissouriFamily Education Loan (MFEL) Program was enacted in 1998 in order to provide need-based financial assistance in an amount not exceeding $500 per eligible family member  to students who otherwise would not be able to afford to attend postsecondary educational institutions in Missouri. Students may use MFEL funds only at participating postsecondary schools in Missouri.

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Missouri Family Education Loan Program

The Missouri Family Education Loan (FMLA) program provides financial assistance to eligible students who have been accepted at an accredited institution of higher education participating in the program. Students may receive loan funds for tuition, fees, books, supplies, equipment, room and board. Eligibility requirements vary depending upon the type of loan sought.

Missouri Department of Elementary & Secondary Education-MoFamilyEdLoanProgramEducation-MoFamilyEdLoanProgram

www.facebook.com/missourifamilyedloan

www.youtube.com/user/reviewingforgood?sub_confirmation1

information @ familyeducatin.orginformation @ familyeducatin.org

moe.mo.gov/familyeducation/eligibility/index.htmmoe.mo.gov/familyeducation/eligibility/index.htm

www.youtube-nocookie.com/watch?vrRgqOBh8o4M

www.stltoday.com/story/money/education/2016/06/03/student-loan-repayment-calculator-what-you-need-to-know/87121958www.stltoday.com/story/money/education/2016/06/03/student-loan-repayment-calculator-what-you-need-to-know/87121958

www.teacherspayteachers.com/Product/How-To-Repay-Student-Loans-1796496

www.uwsm.edu/courses/fall09/ECON1009/Assets%20of%20the%20Economy.pdf

Missouri Family Education Loan Program

Department of Economic Development (DED) of MissouriDepartment of Economic Development (DED) of Missouri

The Missouri Family Educational Loan Program (MFPL), established under section 122.037 RSMo., provides low-interest loans, administered by DED, to eligible borrowers to finance education expenses such as tuition, fees,fees, and books at public and private postsecondary institutions in Missouri.

Missouri State University (MSU)

MSU’s College Access & Opportunity Grant program offers financial assistance to students who have demonstrated need. Eligibility includes students enrolled full time at MSU and first-yearfirst-year undergraduate students whose combined family income does not exceed $50,000 per year. Students must meet the federal poverty guidelines while attending school. Funding is based on family size and income. Eligible families may apply for grants each semester they are enrolled. Applications are due March 1st of each year.

Missouri Student AidAid Commission (MASC)

With the help of student loan providers, MASC can provide funds to assist eligible students with their college costs. Students must complete an application for financial aid before submitting their request to borrow money. The amount available for borrowing is determined by two factors: the total cost of attendance and the number of years left in the degree plan. Students must submit an FAFSA application between October 1 and December 15 to be considered for funding.Students must submit an FAFSA application between October 1 and December 15 to be considered for funding.If you use the Federal Work Study program to pay for your schooling, you’ll be automatically considered for state funds. In addition to scholarships, there are several ways for students to get free money. First, you might qualify for Pell Grants. Second, there are many organizations and schools offering grants. Finally, if you’re willing to work in exchange for free money, then you could take advantage of community service jobs.

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