Financial Aid Resources

Financial Counseling

Do you have questions or concerns about your finances?  Are you experiencing difficulty in paying your tuition or other bills as a result of the COVID-19 pandemic?

Contact Roger Maki-Schramm here or by phone at 313-451-1123, or email, [email protected] 

Expanded SNAP Benefits (Supplemental Nutrition Assistance Program) (posted 3/22/2021)

Certain work and eligibility requirements that may have previously prevented your eligibility for this food assistance program have been removed. If the Expected Family Contribution (EFC) on your current academic year FAFSA is zero, you may be eligible under the expansion of Federal SNAP benefits. These temporary rules are in place as long as the federal emergency remains in effect.

If your EFC is not currently zero, but there has been a significant loss of income due to the pandemic you may request to have Financial Aid revise the income information that was used when completing the FAFSA. To have your EFC re-evaluated, itemize your current estimated income for the period of September 2020 through August 2021, the MSP current academic year, and submit it with income documentation via email to [email protected].

If you have a zero EFC contact the Health and Human Services (HHS) office in the state of your legal residence. More information about student SNAP eligibility can be found here. Michigan HHS SNAP information can be found at this website or by calling 888-624-7434.

Financial Aid Budget Revision Request (posted 3/22/2021)

Budget Increases for Additional Loan Eligibility – This is a reminder that per MSP standard policy and procedures, students may request a Financial Aid revision to their student budget for higher expenses, including expenses related to the pandemic. Increases to the student budget may result in additional borrowing eligibility through student loans – usually Grad PLUS Loan.

To request a budget revision for additional loan consideration you will create an Excel spreadsheet detailing your monthly expenses by category (Books & Supplies, Technology, Room & Board, Personal, Transportation) and forward that to [email protected] for review. Follow-up documentation may be requested. An additional Grad PLUS Loan application may be required.

Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA) (posted 2/11/21)

CRRSAA provides funding to support postsecondary education students and institutions.  This funding is for emergency cash grants to students whose lives and educations have been disrupted by the coronavirus pandemic, including things like tuition, course materials and technology as well as food, housing, health care, and childcare.  

On March 12, 2021 MSP was able to fully fund all 45 students who applied for the HEERF grant.

Pausing Federal Student Loan Payments (posted 2/5/21)

The Department of Education announced on August 6, 2021 that is extending the pause on both federal student loan payments and collections through January 31, 2022 and maintaining the interest rate at 0%. Read about more details here.

American Rescue Plan (ARP) Act (posted 8/26/21)

In a third round of emergency funding, the US Congress passed legislation in March 2021 funding the highest appropriations so far to help students and schools suffering financially during the COVID-19 pandemic.  To this point, the aid from previous coronavirus relief packages has helped but still has fallen short of offsetting the significant losses, providing colleges and universities enough to only cover a fraction of the costs they have incurred due to the pandemic.

This funding includes an allocation (HEERF III) specifically for emergency cash grants to students whose lives and educations have been disrupted by the coronavirus pandemic, including things like tuition, course materials and technology as well as food, housing, health care, and childcare.  

MSP used funds from HEERF I and II (CARES and CRRSAA) to award students enrolled during the 2020-21 academic year. The HEERF III funds from the ARP Act will be awarded to students enrolled during the 2021-22 academic year.+

 

 

 

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