The mission of the Office of Student Financial Aid and Scholarship Services is to improve access to higher education by providing comprehensive financial assistance and information to all students and the NMSU community. Although primary responsibility for educational costs rests with the student and his or her family, NMSU, the federal government, and the state of New Mexico all contribute to assist students pursuing higher education.
The financial aid office administers a broad spectrum of loans, grants, jobs, and scholarships in an attempt to meet the financial needs of the university's students.
The Office of Student Financial Aid and Scholarship Services awards financial aid to students according to their individual needs. Parents of students are expected to contribute to their child's education according to their ability, taking into account their income, assets, number of dependents, and other relevant information. Students themselves are expected to contribute from their own assets and earnings,including appropriate borrowing against future income. All information provided to the Office of Student Financial Aid is regarded as confidential.
Students applying for financial aid complete a FAFSA designed to determine, in accordance with state and federal guidelines, the difference between what the student or family is expected to contribute and the cost of attending NMSU. Among the factors that determine the family's expected contribution are (1) annual adjusted gross income as reported to the Internal Revenue Service; (2) savings, stocks, or bonds; (3) other assets in the form of a business, farm, or real estate; (4) nontaxable income and benefits; and (5) student's prior year income and assets.
Students applying for financial aid should complete a FAFSA avail able at NMSU campus or by visiting www.nmsu.edu/finaid or www.fafsa.ed.gov/.
Please refer to the NMSU Financial Aid web site for more information on financial aid available in the financial aid office. A complete listing of programs and policies is available on-line at www.nmsu.edu/finaid.
To receive financial aid you must
Grants--The foundation for financial aid is the Federal Pell Grant, a federal grant available to undergraduate students with documented financial need. Pell Grants range from $400 to $4,050, though these figures are subject to change each year. If a Pell Grant is insufficient to pay educational expenses, the student may be eligible to receive other types of aid, including a Federal Supplemental Educational Opportunity Grant or Leveraging Education Assistance Partnership Program Grant. These grants are awarded to undergraduate students who show exceptional financial need. Typically, all three types of grants do not have to be repaid.
Loans--Available to undergraduate and graduate students with financial need, Federal Perkins Loans are long-term,low-interest loans that must be repaid to the university according to federal guidelines. Repayment begins six or nine months after graduation or after enrollment drops below 6 credits.
Subsidized and unsubsidized Federal Stafford Loans are need-based, long-term loans available to undergraduate and graduate students. Students receiving a subsidized or unsubsidized Federal Stafford loan or a Perkins, must complete a debt-management session before NMSU will issue a check. In addition, students must complete an exit interview upon graduation or withdrawal from the university. Repayment of a Stafford loan begins six months after graduation or six months after enrollment drops below 6 credits. The interest rate is variable but will not exceed 8.25%. More information will be available at the time the loan is made.
Work-Study Programs--The Federal Work-Study Program provides employment opportunities for selected undergraduate and graduate students with demonstrated financial need. The New Mexico Work-Study Program also provides employment opportunities for students; however, only New Mexico residents are eligible to participate in the program.
For more information on the U.S. Department of Education student aid programs, look on the Internet at www.ed.gov/prog_info/SFA/Student-Guide (for financial aid)or on the NMSU Financial Aid web page at www. nmsu.edu/finaid.
All financial aid awards are based on information provided by the student and parents, availability of funds, and eligibility requirements. Any award may be revised based on changes in enrollment, cost of attendance, family contribution, or failure to meet satisfactory academic progress. Withdrawals or reductions in enrollment may affect an award or any future awards. Financial Aid will not pay for audited courses or third-time repeats.
State, institutional, and federal scholarships may also be available. Amounts, deadlines and eligibility requirements vary. For more information and a complete scholarship list, contact the Office of Student Financial Aid and Scholarship Services or visit the university's scholarship web site at www.nmsu.edu/finaid/scholarships/.
Many students finance part of their education with scholarships, which may be awarded for academic achievement, special skills, talent, or because of the recipient's financial need.
Major Scholarships for Entering Freshmen 2005
For primary consideration, students must be admitted to NMSU by March 1, 2005. Students must enroll in the first regular semester directly following high school graduation. A student is required to be a New Mexico resident graduating from a New Mexico high school or to have passed a New Mexico GED (except for the Alumni Out-of-State Scholarship). Recipients must enroll in at least 12 credit hours (full-time) of bachelor's degree-seeking courses offered at the Las Cruces main campus of NMSU. Some scholarships may be funded in part by the New Mexico Lottery Success Scholarship beginning the second semester.
President's Associates Honors Scholarship: Tuition and Fees plus $1,750/Semester--NMSU scholarship application and brief essay required. Students applying for this scholarship must apply and be admitted to NMSU by March 1, 2005. High School Requirements: 26 ACT(1170 SAT) and 3.5 GPA or 28 ACT(1240 SAT)and 3.0 GPA. Renewable 1st semester: 3.5 GPA and completion of 14 graded credits (freshman year). Thereafter: 3.5 cumulative GPA and 12 graded credits each semester.
New Mexico Scholars Scholarship: Tuition and Fees and Book Stipend--Qualifying family income, if one student in college, $30,000 AGI or less. If two students in college, $40,000 AGI or less. High School Requirements: 25 ACT(1130 SAT)or top 5% of high school class. Renewable: 3.0 GPA and completion of 12 graded credits each semester. Awards are limited.
NMSU Regents Plus Scholarship: Tuition and Fees plus $250/Semester--High School Requirements: 24 ACT(1090 SAT) and 3.8 GPA. Renew able: 3.4 GPA and completion of 12 graded credits at the end of the first semester. Thereafter, renewable based on a 3.5 cumulative GPA and completion of 12 graded credits per semester.
If the Regents Plus renewal criteria are of concern to a new entering freshman, prior to the first day of class, a student can decide to accept the Regents scholarship instead.(See criteria below.)
Regents Scholarship: Tuition and Fees--High School Requirements: 23 ACT(1050 SAT)and 3.5 GPA. Renewable: 3.0 cumulative GPA and 12 graded credits each semester.
Opportunity Scholarship: One Semester $1,000 Award--High School Requirements: 21 ACT (970 SAT) or 3.0 GPA.
Alumni Out-of-State Scholarship: Reduction to In-State Tuition and Fees plus $100/Semester -- Non-NM Residents. High School Requirements: 23 ACT(1050 SAT)and 3.5 GPA or 26 ACT(1170 SAT)and 3.0 GPA. Renewable: 3.25 GPA and completion of 14 graded credits each semester. Scholarship is competitive and number of awards granted is limited.
Federal regulations require that financial aid recipients meet certain academic standards to be eligible for federal financial aid. To ensure that financial aid recipients are making satisfactory academic progress, academic transcripts are reviewed at the end of each term to determine eligibility for the next term. All terms of attendance are reviewed, including periods in which the student did not receive financial aid. All transfer work is taken into account when satisfactory progress is reviewed.
Students are suspended from receiving financial aid if they do not meet satisfactory academic progress standards. Students on financial aid suspension will not receive any form of federal or state financial aid (grants, loans, work study). Financial aid eligibility is reinstated when all standards of satisfactory progress are met.
Students suspended from financial aid may appeal the suspension if there are mitigating circumstances affecting their progress. Students who would like to appeal the suspension must submit an appeal form available at www.nmsu.edu/finaid and all required documentation to the Office of Student Financial Aid. A committee will review the appeal and may grant reinstatement of financial aid based on mitigating circumstances that directly contributed to deficient academic performance. Appeals are usually evaluated on a term-by-term basis.