Financial Aid
Financial Assistance Availability and Eligibility
Types of Aid Available
Application Forms/Procedures for Financial Aid
Disbursement of Financial Aid
Conditions and Details of Student Employment
Financial Assistance Availability and Eligibility
Financial aid is available in four basic categories for students attending college: grants, loans, work, and scholarships. The student and his/her parents have the primary responsibility to finance the student's college education. However, if the student and/or parents need additional assistance to meet educational costs, financial aid exists to meet this need.
Truman scholarships are awarded on the basis of merit by the Admissions Office. The application for admission is the only application needed to be considered for most merit scholarships. Any questions regarding Truman scholarships may be directed to the Office of Admission.
Federal financial aid is awarded to families based on the results of the Free Application for Federal Student Aid (FAFSA). Follow these simple procedures to apply for federal aid at Truman.
- It is easy and fast to apply online at www.fafsa.ed.gov as soon as possible after January 1 of the year you plan to enter college in the fall. This same site has information about applying for a PIN (personal identification number) that will be used to sign your online FAFSA and access your application in the future. A parent of a dependent student would also need a PIN. A paper FAFSA application is available from high schools, college financial aid offices, and public libraries if you do not wish to use the electronic process.
- List colleges on the FAFSA that you want to receive the results of the application. You will receive financial aid award letters from those schools. Truman's federal school code is 002495.
- Note published deadlines for some programs and apply as early as possible; many types of aid are awarded on a first-come, first-served basis. State financial aid program deadlines are listed on the FAFSA. Use estimated income information if necessary to meet the deadline dates.
- Promptly respond to any requests for additional information. The federal processor may ask for missing signatures or resolution of conflicting or missing information. The Financial Aid Office will request tax returns if you are selected for verification and will have other award acceptance procedures.
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Truman State
University participates in the following Federal student aid
programs:
Eligibility for the federal student aid programs is determined by the Free Application for Federal Student Aid (FAFSA). More information about the FAFSA and further details about the federal student aid programs can be found on the U. S. Department of Education’s web site http://studentaid.ed.gov.
Students must also meet basic requirements to be eligible for federal aid programs. The student must be a citizen or eligible non-citizen enrolled as a regular student in an eligible degree or certificate program. A student must also have a valid Social Security Number and must comply with Selective Service Registration if male. The student must not be in default on a previous federal student loan and must not owe money on a federal grant (which is possible in withdrawal or overpayment cases). Students must continue to meet academic progress standards set by the school. The policy at Truman is located at http://financialaid.truman.edu.
State need-based student aid programs also use results from the FAFSA to determine eligibility for state funds. State aid deadlines are published on the FAFSA. The actual state aid programs offered vary by state. Information about Missouri programs may be obtained from the Missouri Department of Higher Education, www.dhe.mo.gov.
Aid Programs Specific to Truman State University
Four types of loans are available through the Truman Development Fund Corporation: short-term loans, long-term loans, computer loans, and cultural loans. Applications, terms and conditions are available in the Financial Aid Office, McClain Hall 103 or on the web site at http://financialaid.truman.edu.
General Eligibility
Loans will be available to students who are currently enrolled at Truman State University on a full-time basis, have completed at least twelve credit hours of coursework at the University, have a good credit rating at the University, demonstrate the necessary ability to repay the loan on a timely basis, and agree to treat such loans as debts to the University and accept the same sanctions and penalties as imposed for delinquent student accounts.
Short-term Loans
Short-term loans in amounts of up to $1,000 are available to students who meet the general eligibility requirements and have cumulative grade point averages of at least 2.20 in courses taken at the University.
Long-term Loans
A limited number of long-term loans in amounts up to $3,000 per year ($9,000 total) are available to sophomores, juniors, and seniors. Students must have cumulative grade point averages of 3.0 or higher for credit hours earned at the University and have fully explored and utilized all federal student aid programs and other available sources of funds.
Computer Loans
Student computer purchase loans are available for a maximum of $2,000 toward the purchase of computer, printer, and related software. Priority will be given to students who plan to attend Truman for two years after receiving the loan. Students must submit receipts for the full amount borrowed documenting the purchase of approved equipment within 21 days of disbursement of the loan. If receipts are less than the loan amount, the excess must be repaid immediately.
Cultural Loans
A limited number of cultural loans may be authorized to encourage participation in “study abroad” programs. The maximum loan is the cost of the trip but not more than $5,000 total. Cultural loans are available to students who meet the general eligibility requirements and, in addition, who meet at least one of the following standards: earned at least a 2.5 cumulative grade point average in courses taken at the University; or earned at least a 2.5 grade point average in foreign language courses taken at the University; or enrolled in a foreign language class at the University for which a “study abroad” experience is either required or strongly recommended.
Truman Endowed Scholarships
Friends and alumni of Truman State University have contributed money to be used for scholarships. The Advancement/Alumni Office oversees the endowed scholarship program and can answer questions about the process and individual scholarships. For incoming freshmen the foundation scholarships are awarded by Admissions. Scholarships are awarded in the spring to be used for the next academic year. Currently enrolled students receive notice of the application process via e-mail. As college costs continue to rise Truman appreciates the private support for our students.
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Application Forms/Procedures for Financial Aid
Federal and state need-based student assistance programs require completion of the FAFSA (Free Application for Federal Student Aid). The FAFSA determines financial need and results are reviewed by the Financial Aid Office. Apply as soon as possible after January 1 of the year you intend to enroll. Use estimated income if necessary. February is considered “Financial Aid Awareness Month” and is the best time to complete the FAFSA. Campus-based federal aid programs (Perkins Loans, Supplemental Educational Opportunity Grants, and Work-Study) are awarded on a first-come, first-served basis. Other federal aid programs (Pell Grants and Stafford Loans) are processed all year; however early application assures the disbursement of funds when classes start.
If you name Truman (Federal School Code 002495) on the FAFSA, results will be received electronically by the Financial Aid Office and an award letter will be sent to you. The award letter will contain further instructions about additional forms or actions needed. Be sure to watch both your postal mail and e-mail carefully and respond to requests in a timely manner. Aid awards can also be monitored via the Tru-View student portal. You should also review information located on the Financial Aid Office web site at http://financialaid.truman.edu.
About a third of the federal student aid applications are selected for further review. If a student is selected the Financial Aid Office will request a Verification Worksheet from your family along with copies of signed federal income tax returns and W-2 Forms. Federal aid cannot be paid until the review is complete, so return these forms promptly. Only send tax return information if your application was one of those selected for review.
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Financial aid is disbursed by releasing two payments over the academic year (one each semester). At the time of disbursement the student must still meet eligibility requirements (academic progress, expected enrollment, financial eligibility, etc.). The bill sent in advance of the semester reflects estimated aid, but funds cannot be applied to the student’s account sooner than 10 days before the first day of classes. Funds are applied to University fees and housing charges first. The student will be notified when funds are credited to the account. If student aid funds are in excess of account charges a credit balance occurs that will be paid to the student (or parent if it was the parent’s loan) within 14 days. If the student or parent wishes to cancel a loan within 14 days of notification that the loan was applied to the account then he/she may do so by notifying the school. Students may arrange with the Business Office to have excess funds from their student account automatically transferred by EFT to their bank accounts.
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Conditions and Details of Student Employment
Work Study is a federal student aid program. Eligibility is determined each year from the results of the Free Application for Federal Student Aid (FAFSA). Renewals are not guaranteed. Apply early each year. Normally funds are awarded so that a student is able to work 10 hours per week. Pay is at the current state minimum wage rate, and paychecks are available the 15th of each month. Students may view job opportunities at truman.erecruiting.com. Positions are available both on and off campus. Students may get assistance in locating positions from the Financial Aid staff if they experience difficulty.
Institutional payroll is a job with the University that the student generally finds on his/her own. It is not Federal Work-Study. The pay rate is the state minimum wage. Students must be enrolled full-time at the University. Employment normally cannot exceed 20 hours a week during the academic year.
Other jobs are available with the campus food service and Barnes and Noble Bookstore. Both are private vendors. Contact these employers directly to apply.
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