OFFICE OF FINANCIAL AID
662-252-8000 ext. 4061; or 1-888-886-8492; Fax: (662) 252-8895
Ms. Helen L. Street, Director of Financial Aid
hstreet@rustcollege.edu

 

Please click the following for detailed information on financial aid at Rust College

 

TYPES OF FINANCIAL AID

FEDERAL GRANTS

Federal Pell Grant
The Federal Pell Grant is a federal entitlement program that provides funds to students pursuing a first undergraduate degree. To apply, the student must complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov. The Federal School code is 002433.  The Federal Pell Grant award currently ranges up to $5,730 for the 2014-2015 academic year and it is based on the student’s financial need.

Federal SEOG Grant
The Federal Supplemental Educational Opportunity Grant is a federal program for undergraduate students who demonstrate exceptional financial need. FSEOG awards are made to students with the greatest need; the fund awarded to FPELL eligible students. The grant ranges from $100 to $4000 per academic year depending on the availability of funds. Only Pell eligible students are awarded the SEOG program. For more information please visit www.ed.gov/programs/fseog/index.html.


STATE GRANTS

Mississippi Resident Tuition Assistance Grant (MTAG)

The Mississippi resident tuition assistance grant offers financial assistance to Mississippi residents attending state approved public and nonprofit two-year or four-year eligible colleges and universities. Entering freshmen must have a 2.5 high school grade point average and a 15 ACT score as well as meet other eligibility requirements as listed on the application. Current enrolled students must have a 2.5 grade point average as well as meet other eligibility requirements as listed on the MTAG application. The amount of the MTAG award will be determined by the funding available, not to exceed an annual award of $500 for Freshmen and Sophomores or $1000 for Juniors and Seniors. Some schools may require the completion of additional forms for the awarding of MTAG. Application deadline is September 15th of each year. To complete an application, visit www.mississippi.edu.

Mississippi Eminent Scholars Grant (MESG)
Mississippi Eminent Scholars Grant offers up to $2,500 to Mississippi residents who are first-time attending state approved public and nonprofit two-year or four-year eligible colleges and universities. Students must have a 3.5 high school grade point average and a 29 ACT score as will as meet other eligibility requirements as listed on the application. The amount of the MESG award will be determined by the level of funding available, not to exceed amount of tuition or $2,500 annually. Some schools may require the completion of additional forms for the awarding of MESG. Application deadline is September 15.

Higher Education Legislative Plan (HELP)
Higher Education Legislative Plan provide tuition assistance to qualified students whose financial need, as demonstrated by federal student aid eligibility, will not be met with gift aid from other sources. Students must be accepted and enrolled full-time in undergraduate course work at an eligible Mississippi institution. Freshman students must have a 2.5 high school grade point average and a 20 ACT score. Current enrolled students must have a 2.5 grade point average. All applicants must be Mississippi residents 2 years prior to application deadline. Application Deadline is March 31.

Critical Needs Teacher Loan/Scholarship Program (CNTP)
The critical Needs Teacher Loan/Scholarship Program provides tuition, room, meals, books and required fees at the college or university in which the student is enrolled, not to exceed an amount equal to the total cost of tuition and required fees assessed by a state approved public two-year or four-year institution of higher learning. An eligible student must be enrolled full-time or part-time in a program of study leading to a Class “A” standard teacher educator license. Freshmen applicants must have a 2.5 high school grade point average and an 18 ACT score. All recipients must maintain a 2.5 grade point average. Program participation is limited to four years. In the event the recipient fails to remain enrolled in a teacher education program of study or fails to fulfill the service obligation, repayment of principal and interest is required. Application deadline is April 30.

William Winter Teacher Scholar Loan Program (WWTS)
William Winter Teacher Scholar Loan Program offers Mississippi residents who are enrolled full-time in an undergraduate teacher education program leading to a Class “A” standard teacher educator license, up to $1000 academic year as freshman and sophomore while junior and seniors may receive up to $3000 per academic year. Students must be attending an accredited state public or nonprofit two-year or four-year institution of higher learning in Mississippi. Freshman must have a 3.0 high school grade point average and a 21 ACT score. Current enrolled students must maintain a 2.5 grade point average. Application Deadline is April 30.

Gear Up Mississippi Scholarship (GUMS)
Gear Up Mississippi Scholarship provides counseling, mentoring, tutoring, and other support services to participating students. Students must be United States citizens or eligible non-citizens and registered with the Selective Service, if required. Students must be enrolled as a full-time undergraduate student at an eligible Mississippi public or non public institution of higher learning pursuing a first baccalaureate degree. Application deadline is March 31.

For more information concerning these state grants or other state grants please visit www.mississippi.edu .


RUST COLLEGE SCHOLARSHIPS

Academic Dean Fellowship
$2500 per year for first-time/transfer students for (4) years.

Requirements:
1. 17 ACT or 1230 SAT score.
2. Maintain 3.00 GPA.
3. Write a 500 word essay.

President’s Scholarship
$3000 per year for first-time student/transfer students for (4) years.

Requirements:
1. 19 ACT or 1350 score.
2. Maintain a 3.25 GPA.
3. Write a 500 word essay.

Honor’s Track
Scholarship covers the cost of attending Rust College, including any federal or state aid for (4) years.
Requirements:
1. 22 ACT or 1530 SAT score.
2. Maintain a 3.50 GPA.
3. Write a 500 word essay.

The cost of Summer School is not included in the grant.

To see if you qualify for any of the Honors Programs offered at Rust College, contact Mr. Braque Talley at (662) 252-8000 ext. 4059.

Band, Choir, Drama
To set up an audition time, please contact the following directors:

Band Director: Mr. Warren Booker (662) 252-8000 ext. 4651 or email: wbooker@rustcollege.edu

Choir Director: Ms. Dorothy Jones (662) 252-8000 ext. 4661 or email: djones@rustcollege.edu

Drama: Mr. John House    (662) 252-8000 ext. 4605 or email: jhouse@rustcollege.edu

SCHOLARSHIPS AND GRANTS

Endowed Scholarships
Endowed Scholarships are made possible by individual donations. These scholarships are presented to enrolled students during Honors and Awards Day in April of each year. If you would like to receive more information or apply, please see the catalog or contact the financial aid office. You must be presently enrolled to apply.

Marshall County Discount
First time students who graduate from the Marshall County area high schools may receive up to $2300 for the academic year, to help meet the direct cost to attend Rust College. Moreover, this scholarship is available to admitted GED students with at least a 16 ACT score.

Employee and Dependents Discount
An employee of Rust College, his/her spouse, and children may be granted up to 75 percent discount in tuition, provided the  employee has completed at least two years of service at Rust College.

Lettie Pate Scholarship
The Lettie Pate Whitehead foundation is a charitable private foundation dedicated to the support of needy women in nine specified states-Georgia, North Carolina, South Carolina, Virginia, Mississippi, Alabama, Tennessee, Louisiana, and Florida.

The United Negro College Fund
A number of scholarships are awarded annually through the Education Services Branch of the United Negro College Fund. Many of these scholarships are restricted to students from specific regions or to students majoring in specific fields. For more information, visit www.uncf.org.

Sibling Discount
Families with two or more siblings will be awarded $200.00 per year per sibling.

UNITED METHODIST SCHOLARSHIPS

United Methodist Ministers’ Tuition Grant
Active ministers and ministerial students who enroll full time at Rust College will receive a 100 percent tuition grant. Dependents of United Methodist Minister of Mississippi conference are eligible to receive a 30 percent tuition discount.

CME Ministers’ Tuition Grant
CME ministers are eligible for 50 percent tuition discount. Their dependents are eligible to receive a 30 percent tuition discount.

United Methodist Ethnic Minority Scholarship  
United Methodist Ethnic Minority Scholarship is for students in full-time undergraduate study in any accredited college/university in the United States. An applicant must be enrolled full time, be an active, full member of the United Methodist church for at least one year prior to application, have and maintain at least a C+ or higher grade point average and be recommended by his/her pastor. Completed application and all required supporting documents must be received no later than May 1. A student must reapply each academic year.

United Methodist General Scholarship
The scholarship is available to undergraduate students at United Methodist related colleges and universities. The award must be applied to tuition and fees. Renewal policy is determined by the institution. An applicant must be an active, full member of the United Methodist Church for at least one year prior to application; a full-time degree candidate in a United Methodist related college or university and must have a cumulative grade point average of “B” or better during the year prior to the award. The student must return the complete application and certification of church membership forms to Rust College.

United Methodist Foundation Scholars program
The United Methodist Foundation Scholars program was created to foster valve-centered education in a Christian context in the United Methodist-related educational institutions through scholarship assistance to United Methodist students.

Scholarships in the amount of $1000 each will be awarded annually to an entering first year student, a junior, and a rising senior. An applicant must be an active, full member of the United Methodist Church for at least one year prior to application, a citizen or permanent resident of the United States and a full time student. Completed application must be received in the financial aid office by May 25.

LOANS

William D. Ford Federal Direct Loans
Effective Fall 2010, Rust College has changed to the William D. Ford Federal Direct Loan Program (Direct Loans). Under the Direct Lending Program, the funds for your loan come directly from the federal government and NOT from a bank, credit union, or other lending institution. Due to this change, ALL students who are requesting a student loan for the 2010-2011 academic year will be required to complete a Master Promissory Note and Loan Entrance Counseling, even if you have already completed this in the past.

Students who are registered for at least six credit hours and who are in good academic standing may be eligible for a Federal Direct Student Loan. A dependent student can borrow the following loan amounts:

                                                                                       Hours    Subsidized   Un-Subsidized    Total
                                                                                     Earned    Loan             Loan                    Amount
First-year students, freshman                                   0-29    $3,500          $2000                 $5500

Second year student, sophomore                             30-59    $4,500          $2000                 $6500

Third & Fourth year student, junior & senior       60-186   $5,500          $2000                 $7500

An independent student or dependent student whose parents are unable to get a PLUS loan can borrow up to:

$9,500 as a first year student (only $3,500 can be subsidized)

$10,500 as a second year student (only $4,500 can be subsidized)

$12,500 as a third and fourth year student (only $5,500 can be in subsidized)

Student must file a FAFSA form to determine family contribution. Amount of family contribution figure determines eligibility for either a subsidized or unsubsidized Direct Loan. Interest on subsidized loan is paid by federal government while student is enrolled at least half-time and for six months after student leaves school; interest on unsubsidized loan is by student. Repayment of principal begins six months after the borrower is no longer at least half-time student.

Delayed disbursement of funds (30 days after the first day of instruction) is required for all first-time borrowers for Direct Loan program.

DIRECT LOANS APPLICATION PROCEDURES

Rust College                             Telephone:        (662) 252-8000
Financial Aid Office                  Facsimile:         (662) 252-8895
150 Rust Ave Holly Springs, MS 38635                          www.rustcollege.edu

 William D. Ford Federal Direct Loan Program (Direct Loans) Application Procedures 2014-2015 

  • A student must be enrolled for at least six credit hours, and in good academic standing to be eligible for a student. Loan.
  • The results of the Free Application for Federal Student Aid (FAFSA) must be on file at the college before a loan can be processed.
  • All Direct Loan borrowers must complete a Loan Entrance Interview online at https://studentloans.gov
  • All borrowers must complete a new Master Promissory Note (MPN) online 

FOR STUDENTS TO APPLY FOR DIRECT LOAN 

Complete the following steps 

Complete the Master Promissory Note and Entrance Counseling 

  1. Log on to the website-https://studentloans.gov
  2. Under Manage My Direct Loan, Click on Sign In
  3. Enter your Social Security Number
  4. Enter the First (2) Characters of last name
  5. Enter your Date of Birth
  6. Enter your PIN (the same one used for the FAFSA)
  7. Click on Sign In

SELECT-Complete Entrance Counseling (about 16 questions. It will take about 30 minutes). 
SELECT-Complete Master Promissory Note (MPN) (To complete the MPN, you also will need to provide a social security number, date of birth and driver’s license number as well as two personal references (full name, address and telephone numbers).
Then select the type of loan you would like to receive: Select Subsidized/Unsubsidized

 FOR PARENTS TO APPLY FOR DIRECT PLUS LOAN 

  1. Must Retrieve parent PIN from www.pin.ed.gov to complete Direct Parent PLUS
  2. Log on to https://studentloans.gov and complete Direct Parent PLUS application 

Additional information: 

Starting July 1, 2013, all Direct Loans made to students/parents will be charged origination fees (less the 1.05% for students and 4.20% for the Parent Plus Loan). These loans will be disbursed in two installments (disbursements) directly to the college. Funds are credited to the students account through an electronic funds transfer (EFT) process. If you are a first-time borrower, your loan cannot be disbursed until at least 30 days after the day of enrollment.

  • If loan funds for a student who is not enrolled for at lease six (6) credit hours are disburse, funds must be returned to Direct Loan.
  • Withdrawing from the college: if the student totally withdraws from college prior to completing 60% of the semester, the loan must be prorated based on the number of days in attendance. Loan funds unearned must be returned to the lender. If the loan was used to pay tuition bill, the student may now have an outstanding bill with the college
  • Loan Exit Interview is required upon graduation or when the student ceased to be enrolled for at least six credit hours.

Starting with loans made this fall, the Direct Loan Program will serve as your lender and servicer for the life of your loan. 

Steps You Need to Take:
You –and your parents, if they are applying for PLUS loan funds—must sign a new Master Promissory Note with the federal government if you, or your parents, plan to receive a loan on or after July 1, 2013. If you previously borrowed a loan under the FFELP, you signed an MPN with your lender promising to repay the loan funds you borrowed from them. That note remains in effect and will govern the repayment of your FFELP loans. You must repeat this process by signing another, very similar note under the Direct Loan Program to take out new loans.

To sign your new Direct Loan Program MPN, log on to the following Website at any time: https://studentloans.gov. You—and your parents, if they are applying for a parent PLUS loan—will need a U.S. Department of Education Personal Identification Number to access and e-sign the electronic MPN. This PIN is the same one used for the Free Application for Federal Student Aid, or FAFSA. Select “Complete New MPN for student loans.”

To complete the MPN, you (and your parent) also will need to provide a  Social Security number, date of birth and driver’s license number as well as two personal references (full name, address, and telephone numbers).

As a result of having new loans under the Direct Loan Program and previous loans under the FFELP, you and your parents may owe payments to two or more different entities. We in the financial aid office will work with you prior to graduation to ensure that you understand your choices when it comes to repaying your loans. You also may check your loan balances and loan holder/servicers by logging on to the National Student Loan Data System, at www.nslds.ed.gov, using the same PIN that you used for the FAFSA and the MPN. Also, we will be happy to assist your parents with their repayment options, if they have PLUS loans with two or more entities.

You may contact the Loan Officer, Mrs. Ivy at (662) 252-8000 ext. 4088.

WORK STUDY

For Your Information:
All Work Study participants Must have an approved Contract and the I-9 Form (Employment Eligibility Verification Form) on File in the Financial Aid Office before reporting to work.

Each participant of the College Work Study Program Must complete a monthly Time Sheet to receive compensation for hours worked. The Time Sheet may be picked up from your assigned Supervisor.

Each supervisor and student Must sign the time sheet. It is the responsibility of the supervisor to see that the time sheet is submitted to the Office of Financial Aid no later than the dates indicated on the work study schedule.

Time Sheets Must be in the Financial Aid Office no later than 4:00p.m. on the time sheet due date. If time sheets are not turned in as scheduled, please do not turn them in until the next pay period.

Important Notice: November, December and April are short months for working. However, the number of hours required are the same.

Community Service:
The Community Service Program is under the umbrella of the Federal Work Study Program and is funded by the Federal Government. It allows Rust College student workers the opportunity to earn income and gain skills that will brighten their future.

By participating in this program you will have the opportunity to help the Rust College Holly Springs, and Marshall County Community; learn new work skills; acquire experience in the world of employment; make new friends; and earn money.

The program allows students to form valuable partnerships with various local off-campus agencies.
Examples of placements include:
Holly Springs Intermediate School
Holly Springs High School
Holly Springs Junior High
Holly Springs Primary School
Holly Family School
ICS Head Start

The goals of the Community Service Program (CSP) are to:
1.         Provide you with employability skills while providing the Rust College community with needed public services.
2.         Provide you with a job skill which will:
            A.  Introduce you to the world of work.
            B.  Introduce you to sources of information on career opportunities.
            C.  Provide you with income in return for work.

Qualifications:
The following criteria must be met to qualify for the Community Service Program (CSP).
1.         Must have at least $1,000 unmet need.
2.         Must be a Junior or Senior.
3.         Must have at least a 3.0 G.P.A.
4.         Must provide own transportation.
5.         Must have a positive attitude and be dependable.
6.         Must be Pell Eligible (Federal Financial Assistance)
7.         Must Sign-up in the Financial Aid Office.

Award and Compensation:
An Award is made by the Director of the Financial Aid Department at Rust College.  The award is based on your PELL eligibility (your income and your Parents income).  This program differs from other Community Service Volunteer programs in that students are expected to work hours based upon their award and are paid a wage of $9.25 per hour.