Checking Financial Aid Records
Students may access financial aid records by logging onto their myMU account. myMU is the campus web portal used to provide students with easy online access to Marshall University records. Any student who has problems accessing their myMU records should email email@example.com or call 1-877-689-8638.
Understanding Financial Aid Awards & Requirements
Online financial aid notification via the myMU account is the official method by which students receive information regarding their financial aid application and awards.
Email is the primary means of communication between students and the Marshall University Office of Student Financial Assistance. Emails are sent to the student’s Marshall University email account. It is the student’s responsibility to monitor email notifications from the Office of Student Financial Assistance as well as from other university offices. Failure to read and respond to email communications from the Office of Student Financial Assistance may result in delay or cancellation
of financial aid awards.
Once you access your financial aid records within the Financial Aid tab, you will be able to view the following topics:
- Financial Aid Status
Financial Aid Status
Financial Aid Status provides you information on your overall status of financial aid by specific award year. This includes information about your cost of attendance, awards, satisfactory academic progress, financial aid history, as well as direct access to your student account (billing) and your academic transcript (registrar).
Eligibility provides information on your student requirements, satisfactory academic progress and holds on your financial aid record.
It is important that you review your student requirements and submit any requested information or documentation that may be requested or incomplete to the Office of Student Financial Assistance promptly. Failure to provide requested
documentation may result in cancelation of your awards.
Notice of Incomplete Application
You will be notified by email and through a Personal Announcement in your myMU account when you are required to submit verification documentation or other required information to finalize your financial aid. Students may download and print most financial aid forms for completion by visiting www.marshall.edu/sfa and clicking on the Forms & Applications tab.
You will be notified by email and a Personal Announcement in your myMU account when you have been awarded financial aid, or when a revision to your financial aid awards has been made. Your awards will list specific types of financial aid offered, the corresponding dollars amounts, and in some cases special messages or instructions related to your awards. Messages usually provide you terms and conditions of the awards. Also, if you must take additional action to receive your awards, you need to follow the instructions provided.
How to Accept Your Awards
Disbursement of Financial Aid (or Financial Aid Crediting to your Billing Account)
The earliest financial aid may credit to students’ billing accounts is 10 days before the semester begins. However, financial aid will not credit to the student’s account unless all eligibility requirements have been met and verification has been completed. In addition, if the student is taking out a student loan, the student must have completed entrance loan counseling and completed a master promissory note for the respective loan program. The 2016-17 Financial Aid Disbursement Calendar provides the dates in which financial aid is scheduled to disburse or credit to students’ accounts.
Pending financial aid is a temporary status and is used for financial planning purposes only. Pending financial aid allows the Bursar’s Office to defer payment of student’s tuition, fees, residential and board payments until the financial aid is finalized and credited to the student’s Bursar account. Students are responsible for making payment for the difference between bursar charges and financial aid awards by the designated due dates established by the University.
Financial aid awards are not final until they have credited to the student’s account.
Under the Marshall University OASIS Payment Plan, students may select to make three equal payments of their outstanding charges for the fall or spring semester after any applicable financial aid has been applied. For more information, visit www.marshall.edu/bursar.
When your financial aid for the semester/term exceeds your direct charges (tuition, fees, etc.) on your student bill, you are entitled to a refund for the difference to use toward other educational expenses such as books and living expenses.
The Bursar’s Office issues refunds to students beginning the first day of classes. Only those students whose financial aid was credited/disbursed 10 days prior to the semester/term with a credit balance will receive a refund on the first day of the semester/term. After this office has credited/disbursed your aid to your student account, refunds for any payments in excess of your University balance will be issued by the Bursar’s Office in 7-10 business days.
It is important to note that if you depend on your financial aid to purchase your books, as explained above the earliest you may receive a refund is the first day of classes. Please plan accordingly.
Treatment of Financial Aid for Total Withdrawal
Total withdrawal from the university is defined as dropping all classes for which a student is registered.
When students withdraw from all courses on or before the 60% point in time of an academic term, the Office of Student Financial Assistance is required to review your financial aid awards to determine whether financial aid funds must be adjusted in accordance with federal and state regulations. The policies on treatment of financial aid for total withdrawal are specific to each designated financial aid program and are applicable only if the student has received those particular kinds of funds. If a student received various types of financial aid, more than one policy may apply when determining revised financial aid eligibility.
Adjustments to institutional and external financial aid follow the Marshall University Refund Policy. If the student is a recipient of state aid but is not receiving federal student aid, adjustments to state aid follow the Marshall University Refund Policy. The chart below describes how institutional, state and external financial aid is treated whenever a student withdraws:
|Period of Withdrawal During a Semester||Percentage of Aid Returned to Program|
|Weeks 1 & 2||90%|
|Weeks 3 & 4||70%|
|Weeks 5 & 6||50%|
For example, if a student withdraws during the 5th week of the semester, the student would have 50% of his/her tuition charge reversed. Simultaneously, if a student received an institutional scholarship for the semester in the amount of $2,000, 50% or $1,000 of this scholarship would be returned to the respective financial aid program.
Treatment of Title IV (Federal) Aid for Total Withdrawal
The federal policy for return of Title IV funds maintains that a student retains only that portion of federal aid that the student has earned based on time in attendance before withdrawal. The percentage of time that the student attended an academic term determines the amount of federal aid that must be returned to the federal government. This federally mandated policy is independent of Marshall University’s institutional refund policy due to withdrawal.
Marshall University, as required by federal statute, must recalculate federal financial aid eligibility for students who drop out, who withdraw, or who are dismissed, prior to completing 60% of the semester or the financial aid payment period.
When the student ceases to be enrolled prior to completing 60% of the semester or financial aid payment period, the Office of Student Financial Assistance applies the Federal Return of Title IV funds formula to determine whether any federal and state financial aid must be returned. The Federal Return of Title IV formula is calculated as follows:
Total # of Days Student Completes Until Withdrawal/Total # of Days in the Semester or Payment Period
This formula determines the percentage of the semester completed, which is the same percentage of earned financial aid.
Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula:
(100% of the Aid That Could be Disbursed minus the % of Earned Aid) X Total Amount of Aid That Could Have Been Disbursed
Federal student aid refunds are returned to the following Title IV sources in the following order:
- Unsubsidized Federal Direct Stafford Loan
- Subsidized Federal Direct Stafford Loan
- Federal Perkins Loan
- Graduate Federal Direct PLUS Loan
- Parent Federal Direct PLUS Loan
- Federal Pell Grant
- Federal SEOG Grant
- Federal TEACH Grant
- Iraq and Afghanistan Service Grant
If a student earned less financial aid than was disbursed, Marshall University is required to return the unearned portion of the financial aid to the respective federal student aid programs. In some cases, the withdrawn student may be required to return all or a portion of the federal funds disbursed even when the funds are issued directly to the student.
If the student (or Parent in the case of PLUS Loan) is required to return a portion or all of the loan proceeds, the calculated amount would not have to be returned through this calculation, but be repaid according to the loan’s terms.
If a student qualifies for federal aid that has not yet disbursed and less aid is disbursed than earned, the student may receive a late disbursement for the difference.
When a student that has begun attendance fails to earn a passing grade (has a zero GPA) at the end of the semester, Marshall University for federal student aid purposes must assume that the student has unofficially withdrawn or dropped out.
If the student has unofficially withdrawn (shows zero earned hours at the end of the semester), 50% of the student’s federal student aid for the term is considered unearned and may result in a reduction of federal aid. However, when Marshall University can document attendance or participation beyond the 60% point in the semester, the student may be able to retain 100% of his/her federal student aid under these circumstances.
Marshall University has an official grading policy that provides instructors with the ability to differentiate between those students who complete the course but failed to achieve the course objectives and those students who did not complete the course. The instructor is required to notify the Director of Student Financial Assistance in the case of the latter.
Students are encouraged to consult with a Financial Aid Counselor to receive information about the full implications of withdrawing from the University.