Financial Aid Programs

• You MUST have completed a Free Application for Student Financial Aid (FAFSA) form. (Make sure to have your previous years tax information available. If you are a dependant student your parents tax information is also necessary).

• You must be a United States citizen, national, or permanent resident to apply for financial aid.

• You must have a high school diploma, a GED, or pass an independently administered test (approved by the U.S. Department of Education) to meet Ability to Benefit requirements.

• If required, you must register with Selective Service or sign a statement indicating you've done so.

• You must be in good academic standing and be making satisfactory academic progress towards your degree.

• You must enroll at least half time (6 hours for undergraduates or 5 hours for graduates) for federal aid programs and full time (12 hours for undergraduates or 9 hours for graduates) for scholarships.

• Need must be clearly established for need-based aid.

• You must sign a statement verifying you do not owe a refund on a federal grant nor are you in default on a federal student loan.

• No student will be denied financial assistance on the basis of age, color, disability, gender, national origin, race, religion, sexual orientation, or veteran status.

Need-Based Aid

Need-based aid, for which you need to provide documentation to prove your eligibility, is available in several forms:

• Federal Pell Grant: is a federal grant awarded only to undergraduate students enrolled on at least a half-time basis. The award amount is determined by the expected family contribution as indicated on the Student Aid Report and is dependent on the actual cost of attendance at NMSU.

• Federal Supplemental Educational Opportunity Grant (FSEOG): is a federal grant awarded to undergraduate students with exceptional financial need. Priority is given to Pell Grant recipients.

• New Mexico Leveraging Educational Assistance Parternership Grant--LEAP (formerly known as SSIG): is a combined federal and state grant awarded to undergraduate students to help with educational costs. To be eligible for LEAP, you must be a New Mexico resident with demonstrated exceptional need.

1. NOTE: A grant is an award you do not repay.

• Federal Work Study (FWS): is a federal program that provides an opportunity for you to work and earn money to help pay for educational expenses. The program allows you to work up to 20 hours per week, at a minimum wage, while school is in session. You obtain employment on or off campus, the latter at a nonprofit community service agency. Eligibility for FWS is also determined by financial need and availability of funds.

• NOTE: The work study handbook, is here.

  Work study positions, are availaiblehere.

• New Mexico Work Study (NMWS): is a state-funded program that provides part-time employment to help pay for educational expenses. A percentage of state work study funds is provided to students who exhibit financial need, with the remaining funds awarded to students who are ineligible for need-based federal or state funds. You may work up to 20 hours per week, at a minimum wage, and secure work on or off campus. To be eligible for NMWS, you must be a New Mexico resident.

1. NOTE: The Work Study handbook is availaible here.

   Available work study positions, are located here.

• Federal Perkins Student Loan: is a five percent, simple-interest federal loan program available to help with educational expenses and is awarded to both undergraduate and graduate students with demonstrated exceptional need. Repayment on the Perkins Loan begins nine months after you graduate or cease to be enrolled half-time.

1. NOTE: Students who have received a Bachelor degree and are pursuing a second undergraduate degree are ineligible for the Pell Grant, FSEOG, or SSIG Grants.

• Federal Stafford Student Loan Program (FSSLP): is a combination of two loans, the federal subsidized and unsubsidized Stafford student loans. Both loans are variable-interest loans that allow you to borrow money from eligible private lenders (e.g., banks or credit unions). The subsidized Stafford loan requires demonstrated financial need. The unsubsidized Stafford does not require demonstrated financial need. However, you pay the interest on the unsubsidized Stafford loan during your in-school, grace, and deferment periods. Repayment on both loans begins six months after you graduate or cease to be enrolled half-time. To apply, complete the Free Application for Federal Student Financial Aid. A separate loan application, provided by the lending institution, may also be required. For details visit your financial aid advisor.

• Federal PLUS Loan: is a variable-interest federal loan that enables parents with good credit histories to borrow money from eligible private lenders (e.g., banks or credit unions). The Federal PLUS Loan does not require demonstrated financial need. Repayment begins 60 days after the last loan disbursement. To apply, parents complete a separate PLUS loan application provided by the lending institution or contact NMSU for an application.

Non-Need-Based Aid

• Grants-in-aid: requiring no repayment, are sometimes awarded on criteria other than need. Examples are band grants or athletic grants-in-aid. Contact the particular department or program for more information.

• State Work Study: unlike Federal College Work Study, is awarded only to New Mexico residents enrolled at least half-time. At least one-third of the awards must be based on need. To apply, complete a Free Application for Federal Student Aid. This form is available at the Financial Aid Office.

• Employment Opportunities: both on and off campus, exist for students. The Financial Aid Office handles job requests and referrals for work study positions and posts available work study jobs on the web. You may have the opportunity to work in your academic area. Jobs vary from specialized technicians' work to clerical work or labor. If you are eligible for federal work study, you may also have the opportunity for a community service job.

  The Placement Office also provides its own job board, placement services, and application procedures for jobs not covered by the work study program. These are student employment positions as opposed to work study positions.

• University loans: may be made for amounts up to $500 for qualified applicants. These loans are designed to meet short-term cash-flow needs. Cosigners are required. For more information, contact the Financial Aid Office.