Financial Aid FAQs

All students are encouraged to complete the Free Application for Federal Student Aid (FAFSA). The FAFSA is the financial aid form used to help students access grants, federal student loans and work-study funds.

Learn more about FAFSA

Your Expected Family Contribution (EFC) is an index number that colleges use to determine how much financial aid a student is eligible to receive. Your EFC is calculated according to a formula established by law and the information from your Free Application for Federal Student Aid (FAFSA).

The EFC factors your family's taxed and untaxed income, assets, and benefits (such as unemployment or Social Security). Your family size and the number of family members attending college during the year are also considered.

Note: Your EFC is not the amount of money your family will have to pay for college or the amount of federal student aid you will receive.

The cost of attendance (COA) is not the bill that you may get from your college; it is the total amount it will cost you to go to college each year. The cost of attendance is established by the financial aid office in compliance with federal law.

The COA includes:

• Tuition and fees
• On-campus room and board (or a housing and food allowance for off-campus students)
• Allowances for books and supplies
• Transportation
• Loan fees
• If applicable, dependent care.
• It may also include other expenses like:
  • An allowance for the rental or purchase of a personal computer,
  • Costs related to a disability, or
  • Costs for eligible study-abroad programs.

Note: The COA for graduate and professional programs is usually higher than for undergraduate programs. For students attending less than half time, the COA includes tuition, fees, and an allowance for books, supplies, transportation, and dependent care expenses.

No. Students do not have to be admitted to MSU to file the FAFSA. However, a financial offer will not be made until you have been fully admitted into a degree-seeking program. Students applying must be registered for classes to be awarded financial aid.

Federal and state need-based awards include the following:

• Federal Pell Grant
• Federal Supplement Educational Opportunity Grant (SEOG)
• KY College Access Program Grant (CAP)
• KY Teachers Scholarship
• Need-Based Scholarship/Grant Programs from States Other than Kentucky
• Federal Perkins Loan
• Federal Work-Study
• Federal Direct Subsidized Loan

If you apply online, your application will be processed in 10-14 days. You will receive a Student Aid Report via the email account you provided on your financial aid application stating if you are eligible to receive financial aid for the year.

If you apply by mail, it will take about four weeks. Unless any problems arise, a Student Aid Report will be mailed to you stating if you are eligible to receive financial aid for the year.

Generally, students must be enrolled at least half time (6 credit hours for undergraduate and graduate students) in required coursework to receive most types of aid including Stafford Loans. However, a student may receive a Pell Grant for less than half-time enrollment.

The amount of aid you are eligible to receive is determined by the information reported by your family on the FAFSA. The U.S. Department of Education uses a formula to determine each student's estimated family contribution (EFC). The EFC is the amount of money the government has determined that a family can contribute to the student's educational costs. The EFC determines grant and loan eligibility.

Go to Financial Aid Forms

Please contact Accounting & Financial Services for billing questions at 606-783-2019.

When students register for classes, they create a financial responsibility to Morehead State University. The total semester charges (tuition, housing, meal plans, books and fees) minus financial aid, scholarships, waivers, and third-party payments for each semester result in the amount due to the University.

All students MUST accept a Financial Responsibility Agreement each semester and pay their balance in full or enroll in a payment plan to activate their meal plan and BeakerBUCKs, allow textbook charges at the University Store, and prevent cancellation of their class schedule.

To accept your Financial Responsibility Agreement:

1. Log in to MyMoreheadState.
2. Select the Self-Service Link and then "Student Finance." Select "Financial Agreement" from the Helpful Links menu.
3. Select the appropriate term, then click SUBMIT.
4. Read the agreement, then select "Accept" and click SUBMIT.​

• Payment plans may be arranged online at MyMoreheadState or by contacting billing at 606-783-2019.
• Parent Plus Loan Application - This loan would be in your parent’s name, and is subject to a credit check. If for any reason your parents are denied this loan we can offer you additional unsubsidized loans as part of the dual parent plus loan application (student completes bottom section of form).
• Alternative Loan - This loan would be in the student’s name and is subject to a credit check. This loan may require the student to have a co-signer.
• Funding Your Education

Students must first accept their Financial Responsibility Agreement on MyMoreheadState before charging books at the MSU Bookstore. The system can take up to 24 hours to update.

The CAP Grant is a need-based state-funded grant with a priority deadline of March 15 for the state of Kentucky. You may apply for Federal and State funds by completing the FAFSA online.

The Pell Grant is a need-based grant. The Pell Grant is available to degree-seeking students with an eligible EFC (as determined on the FAFSA). The Pell Grant has a lifetime eligibility of 600% for all eligible students. 

Learn About Pell Grants

FSEOG is awarded based on need and the date of application until funds are exhausted. Students must be eligible for a Federal Pell Grant, have a completed FAFSA and be enrolled full-time.

Full-time enrollment (12 credit hours) is required to receive the full Pell Grant award. Students with a semester course load of 1-11 credit hours may be eligible for a prorated portion of their Pell Grant.

The KY KEES award is usually received in late September by the school you are enrolled at for the fall and mid-February for the spring term. Until disbursement, this scholarship is considered anticipated aid towards your bill. Visit KHEAA's KEES FAQ webpage for more information. You do not have to contact KHEAA to receive the funds.

Pell, CAP, FSEOG and KEES funds will transfer. However, loans do not. You must confirm that MSU’s school code (001976) is on your FAFSA so that we can determine your financial aid eligibility. You will not have to fill out a second FAFSA. Once you have completed your application with the Office of Admissions, we will review your FAFSA. If any additional information is needed, we will notify you as soon as possible via your MSU student email account.

In certain situations, an eligible student can receive up to 150 percent of his or her scheduled Pell Grant award for an award year.

For example, if you are eligible for a $2,000 Pell Grant for the award year and are enrolled full-time for both the fall and spring semesters, you’ll likely receive $1,000 in the fall and $1,000 in the spring. However, under certain circumstances, you may be eligible to receive an additional $1,000 in the summer semester (resulting in your receiving 150% of your original award). You might hear this situation being referred to as “year-round Pell.”

Additionally, you may have remaining loan eligibility for the summer term if you are enrolled in 6 credit hours or more.

Summer Aid

Visit the Selective Service System Website

To request an IRS tax transcript, visit the IRS website.