Financial Aid FAQ
How will my financial aid be disbursed?
Financial Aid and/or Scholarship awards will be automatically applied to the student’s NMSU account through the University Accounts Receivable Office. Any funds remaining, after paying university expenses, will be available to the student through direct deposit or check. Students may sign up for direct deposit through my.nmsu.edu. Students that do not elect to have direct deposit may pick up their checks at the Business Office.
Why have I not received my financial aid?
Financial aid cannot be dispersed until your finanical aid file is complete. Students can review the status of their financial aid through their my.nmsu.edu and/or by contacting the Financial Aid office. To avoid delay, students should complete their financial aid files accurately and early. Students who have not been awarded financial aid must make payment arrangements at the Business Office.
Is there a cut-off date to sign up for classes and receive financial aid?
There is a cut-off date to add classes for financial aid purposes and that date will be posted at the financial aid counter each semester. Grant and loan financial aid for the first and second eight week sessions will be paid at the beginning of the 16 week semester. Financial aid may not pay for courses added after the cut-off date.
What if I don’t attend my classes?
Students who are paid financial aid and do not attend classes will be liable for all tuition and fees and may be required to repay all or a portion of the financial aid. If you do not attend classes you will NOT be automatically withdrawn from the university. To officially withdraw please go to the Admissions office.
Am I required to be degree seeking to receive financial aid?
To receive financial aid, students must be degree seeking with the NMSU-A Admissions Office.
Are there classes that financial aid will not pay for?
Financial aid will not pay for audit courses or undergraduate courses for which a grade of “C” or better (or grade of “S” if applicable) has already been received.
Am I required to notify the Financial Aid office if I receive additional resources?
Students must notify the Office of Student Financial Aid of any and all additional resources: scholarships, tuition waivers, stipends, WIA, DVR, state or federal awards, and others. All financial aid offers are subject to revision due to changes in policy, law, regulations, or errors of funding. The student is responsible to repay excess funds disbursed due to any of these reasons.
What is the minimum number of credits that I can enroll in and receive a loan disbursement?
Students receiving loan awards must be enrolled in at least six credit hours.
Are there special requirements of a first time borrower?
First time borrowers must complete an online Entrance Counseling and Master Promissory Note at http://www.studentloans.gov prior to loan disbursement. First time borrowers also have to wait 30 days after the start of the semester for their loan to disburse.
Will my academic progress affect my financial aid?
Yes. Satisfactory academic progress will be monitored to determine eligibility for financial aid. Satisfactory Academic Progress includes: maintaining a cumulative grade average of 2.0 for undergraduate students; a completion rate of 70% of all attempted credit hours and a maximum time frame to complete a degree (usually 99 attempted credit hours for an associate degree). Contact the Financial Aid office for further details.