Funding

MILLSAPS PAYMENT PLANS

Millsaps offers a number of payment plans. If you have questions regarding your payment options, please contact the Business Office at 601.974.1100 or email BusinessOffice@millsaps.edu for clarification.

SCHOLARSHIP DATABASES

Create a free profile and research scholarships available to you based on your academic studies, organization memberships, and career interests.

GENERAL BOARD OF HIGHER EDUCATION AND MINISTRY

The General Board of Higher Education and Ministry administers numerous scholarships and low interest loans for United Methodist students. Every year an average of $5.5 million is awarded to help students pursue their dreams through higher education. For more information, go to GBHEM - Scholarships. Scholarship applications open December 15 – March 24.

THE MISSISSIPPI UNITED METHODIST FOUNDATION

For Mississippi United Methodist students, the Mississippi United Methodist Foundation provides scholarships for college. Scholarship applications are available from January 2 to April 1.

FEILD CO-OPERATIVE ASSOCIATION

The Feild Co-Operative Association is a loan program for MS residents.

YELLOW RIBBON PROGRAM

The VA’s Yellow Ribbon Program is a benefit in which Millsaps partners with the Department of Veterans Affairs to ensure that Yellow Ribbon 100% eligible recipients receive matching institutional funds to cover tuition and fees. If you become eligible for Yellow Ribbon benefits, we will adjust your financial aid award accordingly and send you a revised financial aid award. If you are an incoming student and believe you will be eligible for Yellow Ribbon benefits, please notify the Office of Admissions immediately so that your financial aid can be adjusted in a timely fashion. Millsaps merit scholarships are not stacked on top of the Millsaps Yellow Ribbon award. However, if Yellow Ribbon benefits do not cover 4 years, the initial Millsaps merit scholarship will be made available to the student when Yellow Ribbon benefits expire.

Apply here to begin the process for post-9/11 GI Bill benefits. If you qualify for benefits, you will receive a Certificate of Eligibility (COE). Provide a copy of your COE to the Millsaps Office of Records. Along with your COE, you will also need to complete and return a VA Information Sheet.

The Office of Records is the primary contact for military education benefits. Email records@millsaps.edu for questions you may have regarding the Yellow Ribbon Program and other military aid programs. The Office of Records is located in the Academic Complex, office 142.

EMPLOYER ASSISTANCE

Many companies will reimburse tuition in whole or in part to an employee who successfully completes courses that bear a relationship to his/her job. Contact your personnel or employee training office to learn your company’s policy.

FEDERAL LOANS

Graduate students, enrolled for six or more semester hours during a term, are eligible to apply for Federal Direct Loans. These loans require submission of the Free Application for Federal Student Aid (FAFSA) and have both annual and lifetime aggregate limits.

Annual Maximum Amount of Unsubsidized Loans: $20,500

Lifetime Aggregate Loan Limits: Graduate/Professional Students can borrow a maximum total of $138,500 (of which no more than $65,500 can be subsidized loans). These graduate loan limits include all loans borrowed as an undergraduate.

For additional information about Federal Loans, go to FAFSA Facts & Fiction.

HOW TO APPLY FOR A FAFSA STUDENT LOAN:

Complete the Free Application for Federal Student Aid (FAFSA). Submit the 2022–2023 FAFSA to apply for aid for academic terms from fall 2022 through summer 2023.
Students may request an FSA ID to use as an electronic signature on the FAFSA.
Complete a Master Promissory Note for Federal Direct Loan. If you did not have a loan at Millsaps during the prior academic year, use your FSA ID to complete the appropriate Master Promissory Note. Unsubsidized loans and graduate PLUS loans require separate Master Promissory Notes.
Complete online entrance counseling for Federal Direct Loan. If you have not previously received a Direct Loan at Millsaps College, log on to Federal Student Aid with your FSA ID and complete online entrance counseling.

DIRECT PLUS LOAN

The U.S. Department of Education makes Direct PLUS Loans to eligible graduate or professional students through schools participating in the Direct Loan Program. A Direct PLUS Loan is commonly referred to as a grad PLUS loan when made to a graduate or professional student.

Direct Plus Loan Information

STUDENT ALTERNATIVE LOANS

Millsaps College recognizes that you may need additional funding to meet your college expenses even with grants, scholarships, and federal loans. To fill the gap between financial aid and the cost of attendance, graduate students may pursue Alternative Loan Funding.