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• Financing Your Education
• Basics of Financial Aid
• Types of Financial Aid

The following is a brief description of institutional, state, federal, and alternative financial aid awards that should assist you in understanding financial assistance. MSOE institutional assistance is awarded based on academic achievement. Need-based aid is awarded within the guidelines of the U.S. Department of Education. Unless otherwise noted, the only form needed to apply for the aid below is the Free Application for Federal Student Aid (FAFSA).

Institutional Aid*

• MSOE Scholarships
  MSOE institutional scholarships are gift money awarded to qualified applicants who demonstrate superior academic aptitude. Students must maintain a 2.50 or higher cumulative GPA to remain eligible for renewal of full scholarships. For more information on the scholarship policy please contact the Financial Aid Office or see the page on Academic Scholarship Policy. (The FAFSA is not required to be awarded this MSOE academic scholarship.)
• MSOE Grants
  MSOE grants are gift money awarded to financial aid applicants who demonstrate need as determined by their FAFSA.

* available only to full time students up to a maximum of 5 years.

State of Wisconsin Aid

A number of state aid programs are available to Wisconsin residents. The following is a brief description of the programs. For further information, please visit the Wisconsin Higher Educational Aids Board (HEAB) Web site. HEAB is the state agency charged with monitoring and establishing award criteria for state aid programs.

• Wisconsin Academic Excellence Scholarships
  Academic Excellence Scholarships are awarded to Wisconsin high school seniors who have the highest grade point average in each public and private high school throughout the State of Wisconsin. The number of scholarships each high school is eligible for is based on total student enrollment. In order to receive a scholarship, a student must be enrolled on a full-time basis by September 30th of the academic year following the academic year in which he or she was designated as a scholar. A total of $2250 is awarded, $1125 is funded by the state and $1125 is funded by MSOE. Students awarded this scholarship by their high school will be asked by HEAB to notify them of what school they plan on attending. HEAB will notify MSOE shortly before school starts and will add this scholarship to your award offer. For more information on this scholarship, please visit www.heab.wi.gov/programs.html and scroll to the "Academic Excellence Scholarship" section.
• Wisconsin Hearing and Visually Handicapped Student Grant
  A need based grant awarded to Wisconsin Undergraduate students who have a severe hearing or visual impairment. For eligibility requirements, dollar amounts, application and application procedures, please visit www.heab.wi.gov/programs.html and scroll to the "Hearing & Visually Handicapped Student Grant" section.
• Wisconsin Minority Retention Grant
  Awards under this program are made to Wisconsin resident minority undergraduates, excluding first year students, enrolled at least half-time. According to the statutes, a minority student is defined as a student who is either an African American; American Indian; Hispanic; or Southeast Asian from Laos, Cambodia, or Vietnam admitted to the U. S. after December 31, 1975. Awards are based on financial need. Interested students should contact the Financial Aid Office to be put on the waiting list.
• Wisconsin Nursing Loan
  The Wisconsin Nursing Loan provides loans to Wisconsin residents who are enrolled at least half-time at an eligible in-state institution that prepares them to be licensed as nurses, either RN or LPN. The student who participates in this program must agree to be employed as a licensed nurse in Wisconsin. For each of the first two years the student works as a nurse and meets the eligibility criteria, 25% of the loan is forgiven. The balance remaining after forgiveness must be repaid at an interest rate of 5%. If the student does not practice nursing and meet the eligibility criteria, the loan must be repaid at an interest rate of 5%. If funds are available, eligible students will be contacted by the Financial Aid Office to apply for this loan.
• Wisconsin Talent Incentive Program
  The Talent Incentive Program (TIP) Grant provides grant assistance to the most financially needy and educationally disadvantaged Wisconsin resident students attending colleges and universities in the State of Wisconsin. First-time freshmen students are nominated for the TIP Grant by the school financial aid offices or by counselors of the Wisconsin Educational Opportunity Programs (WEOP). To continue to receive the TIP Grant, students must be enrolled consecutive terms and continue to show financial need. Eligibility cannot exceed ten semesters. Funding for the TIP Grant is provided by both the State of Wisconsin and the Federal Government. Interested incoming students should contact the Financial Aid Office to be put on the waiting list. Students should also contact their regional WEOP coordinator for these funds at http://dpi.wi.gov/weop/directory.html.
• Wisconsin Tribal / Indian Grants
  Awards under this program are made to Wisconsin residents who are at least 25% Native American and are undergraduate or graduate students enrolled in degree or certificate in Wisconsin. Awards are based on financial need with a limit of ten semesters of eligibility. HEAB has an informal matching arrangement with grant funds awarded by the Federal Bureau of Indian Affairs and Wisconsin Tribal governments. For eligibility requirements, dollar amounts, application and application procedures, please visit www.heab.wi.gov/programs.html and scroll to the "Indian Student Assistance Grant" section.
• Wisconsin Tuition Grants
  The Wisconsin Tuition Grant (WTG) Program provides grant assistance to undergraduate, Wisconsin residents enrolled at least half-time in degree or certificate programs at non-profit, independent colleges or universities based in Wisconsin. Awards are based on financial need and partially based on that portion of tuition in excess of UW - Madison tuition. The maximum award amount is established annually by HEAB. Eligibility cannot exceed ten semesters.

Federal Aid

• Federal Work Study
  A limited fund need-based award. Work Study is an employment program that allows students to earn a paycheck working on campus in a variety of departments or off campus in a variety of not for profit community service agencies. For more information, please visit student employment information.
• Pell Grants
  Need-based grants awarded to students pursuing their first post-secondary degree. Eligibility/award amount is determined by the U.S. Department of Education.
• Supplemental Educational Opportunity Grants
  Limited fund, campus-based grant program available to students who demonstrate high financial need and are Pell Grant recipients. The institution, within federal guidelines, determines amount of award.
• National Science and Mathematics Access to Retain Talent Grant (SMART)
  This grant is available during the third- and fourth- years of undergraduate study to full-time students who are eligible for the Federal Pell Grant and who are majoring in physical, life or computer sciences, mathematics, technology, or engineering or in a foreign language determined critical to national security.  The student must maintain a quarterly minimum cumulative grade point average (GPA) of at least 3.00.   View a list of eligible majors here.

• Academic Competitiveness Grant (ACG)
  Grant program for Pell Grant-eligible students, who are attending full-time and who are U.S. citizens. This grant will be made available to eligible students in their first academic year if they meet the required rigorous secondary school program determined by the student's state of permanent residency. The maximum award for a student's first academic year is $750. Students who also fit the above criteria, but are in their second academic year and are maintaining a minimum cumulative G.P.A. of 3.0 could be eligible for a maximum award of $1300 for the academic year. More information on the ACG.
• Perkins Loans
  Limited fund, need-based federal student loans. Interest rate is 5 percent. No interest accrues while the student is enrolled at least half-time. Grace period of nine months prior to entering repayment. Borrowing limits determined by the U.S. Department of Education.  More information on Perkins Loans.
• Subsidized Stafford Loans
  Need-based 6.0 percent fixed interest rate loan. No interest accrues while student is enrolled at least half time. Repayment begins six months after student ceases half-time enrollment. Borrowing limits determined by the U.S. Department of Education. More information on Stafford Loans.

• Unsubsidized Stafford Loans
  Non-need based 6.8 percent fixed interest rate loan. Provisions are identical to the subsidized Stafford loan with the exception that interest accrues while the student is enrolled. Borrowing limits determined by the U.S. Department of Education. More information on Stafford Loans.
• Parent Loans for Undergraduate Students (PLUS)
  Federally insured 8.5 percent fixed interest rate loan is available to parents of dependent students. The PLUS loan enables the parent to borrow up to total cost of education for an academic year, less any aid awarded to the student. Repayment begins 60 days after loan is fully disbursed. Parents desiring PLUS loans are required to apply yearly.  Various lenders offer suspension of payments while the student is enrolled at MSOE.  More information on PLUS Loans.
• Graduate PLUS loan (for graduate students only)
  Federally insured 8.5 percent fixed interest rate loan is available to graduate students. The Graduate PLUS loan enables the graduate student to borrow up to the total cost of education for an academic year, less any aid awarded to the student. Repayment begins 60 days after loan is fully disbursed but can be deferred while the student is enrolled. For more information regarding the loan, please contact MSOE's Financial Aid Office.

Alternative Aid

A variety of alternative loan products through private lending institutions are available to both students and parents to assist in financing your educational goals. More information on Alternative Loans.