Office of Financial Aid

University of Mississippi

General Information Questions

  1. I probably don’t qualify for aid. Should I apply for aid anyway?
  2. How do I start the process?
  3. How do I apply for a Pell Grant and other types of need-based aid?
  4. What is a Student Aid Report?
  5. When and how will I receive my financial aid?
  6. What expenses can I expect financial aid to cover?
  7. Do I have to reapply for financial aid every year?
  8. Can my financial aid change?
  9. How do I compare financial aid awards from several schools?
  10. How is my “financial need” determined?
  11. What is a “Standard Student Budget,” or “Average Cost of Attendance?”
  12. Will our savings and other assets be considered when our financial need is being determined?
  13. How do I become an Independent Student for Federal Aid purposes?
  14. I’m going to be married during the school year for which I am applying for aid. Can I fill out my FAFSA as “married”?
  15. If my parents are divorced or separated, whose financial data should be used when I’m completing the Free Application for Federal Student Aid (FAFSA)?
  16. What if I have unusual circumstances?
  17. What is verification?
  18. What if I am selected for verification?
  19. I want a Federal Work-Study job. How can I get one?
  20. Do I have to pay taxes on the money I earn through Federal Work-Study?
  21. Can I get aid for summer school?
  22. How do I apply for aid for summer school?
  23. Can independent courses be used to receive financial aid?
  24. Can audit courses be used to receive financial aid?
  25. What happens to my financial aid status if I withdraw from school?

Scholarship Questions

  1. What are private scholarships?
  2. If I get a private scholarship, what impact does this have on my eligibility for other financial aid?
  3. Are scholarships awarded for one year or are there scholarships that are guaranteed for all four years?

Loan Questions

  1. What is a Direct Loan?
  2. What is the difference between the Subsidized and Unsubsidized Direct Loan?
  3. What are some benefits of the Direct Loan?
  4. How much can I borrow with a Direct?
  5. What is the interest rate on a Direct Loan?
  6. If I do not graduate, do I have to repay my Direct Loan?
  7. Who is my lender?
  8. What is loan counseling and why do I have to have it?
  9. How long after I’ve been awarded will I get the promissory note?
  10. How will I know when my loan money is available?
  11. What are some of the benefits of the Direct PLUS Loan?
  12. How much can I borrow with a Direct PLUS Loan?
  13. What is the interest rate on a Direct PLUS Loan?
  14. What if I am turned down for a Direct Parent PLUS Loan?
  15. Who receives the check for my Direct PLUS Loan?
  16. Why was my loan sent back to the bank?
  17. How can I get an In-school Deferment on repayment of my loan?
  18. If I am in default on a previous loan, what documents are needed to clear the default?
  19. If I take a leave of absence, do I have to start repaying my loans?
  20. Under what circumstances may a student loan be forgiven, cancelled, or discharged?

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