All loan and grant payments administered by the university will be made by check or credit. Student employment paychecks are issued bi-weekly and are made payable to the student. All university fees and charges are due no later than the beginning of the semester. MSU has a payment plan available through the Bursar’s Office. Students receiving financial aid must sign up for the payment plan to have fees deferred based on financial aid.

If you receive a university-administered scholarship, you will receive credit for your award. The amount you will owe to MSU will show your university scholarship credit.

Any financial aid award is subject to the actual receipt of funds appropriated to Murray State University by federal and/or state governments.

Withdrawal from School
If you leave school before the end of the semester and you received financial aid, you may discover that you owe a refund or a repayment to the various aid programs which helped you.

The policy on allocation of refunds and repayments on student financial assistance programs is available in the Student Loan Accounting Office.

Murray State makes special efforts to keep students in school. In addition to stressing academic excellence and classroom studies, the university also supports numerous extracurricular activities. The on-campus Learning Center offers free reading, writing and study skills programs and tutorial programs in special areas.

Repaying Student Loans
Upon leaving school, whether by withdrawal or graduation, you must have an exit interview with the assistant bursar. If you do not make arrangements for your campus accounts, you may be charged a late payment penalty, a hold may be put on your student records, your enrollment may be cancelled, and you may be denied future aid.

Requirements to Receive Financial Aid
To remain eligible, you must:

• Meet the minimum requirements of the policy governing satisfactory academic standing/progress.
  Federal regulations state that all students who receive assistance from the Federal Work-Study, Federal Stafford Loan, KHEAA Grant, Federal Perkins Loan, Federal Pell Grant, Federal PLUS Loan, or Federal Supplemental Educational Opportunity Grant programs will be required to make measurable academic progress toward a degree. Failure to maintain satisfactory academic progress will result in the termination of your financial assistance. You may re-establish eligibility for financial assistance when the minimum requirements of the policy are satisfied. This policy also applies to the Nursing Student Loan; Norris Student Loan Program; and all KHEAA Teacher Scholarship, Work and Loan programs.
  
• If you do not meet these requirements, you should still file financial aid forms for future terms on a timely basis. This will permit you to be considered for financial aid once your appeal is approved. This policy applies to all students whether or not the student is receiving financial aid for the period being monitored.
  
• As an undergraduate student based upon full-time status (a minimum of 12 hours per semester), you will be required to earn a minimum of 24 semester hours within that academic year (fall and spring semesters). You will be permitted a maximum of six academic years for completion of a baccalaureate degree(s), three years for an associate degree(s), and two years for a certificate program for financial aid purposes.
  
• As a graduate student based upon full-time status (a minimum of nine hours per semester), you will be required to earn a minimum of 18 semester hours within that academic year. You will be permitted a maximum of three academic years for completion of a master’s degree program for financial aid purposes.
  
• In addition to the requirement to complete a minimum number of credit hours each academic year within a maximum time frame, you must also meet the minimum requirement for satisfactory academic standing as follows:
  
• To remain eligible for student financial aid funds, a student must conform to the schools academic probation policy.
  
• If you attend less than full time or for one semester only, you must adhere to an equivalent rate. If you excessively repeat courses or take courses or take courses not related to a degree objective, you will not be making satisfactory progress toward graduation and you will be subject to loss of eligibility for financial aid. If you have more than two official academic and/or administrative withdrawals from school while attending Murray State, you will not be considered making satisfactory academic progress. Incompletes will not be considered until credit is recorded on the official MSU academic transcript. Audit of a class cannot be accounted in any manner for financial aid purposes.
  
• If you enroll as a full-time student and then drop below full-time status, you will be treated as a full-time student for purposes of this policy.
  
• If you fail to meet the standards of the satisfactory academic progress policy, financial assistance will not be available to you until the required number of hours are completed and/or you meet the academic requirements during the semester that you on academic probation as stated in the above policy, or an appeal is approved. You may make up the hours and/or academic deficiencies by attending summer school and/or the regular semester(s) at your own expense. After completing the required number of hours, it is your responsibility to notify the Student Financial Aid Office and provide a copy of all grade reports. Eligibility may be continued, upon appeal, for student who, through no fault of their own, were unable to complete a semester under normal circumstances; e.g., accident, unexpected medical problems, or death in the immediate family (brother, sister, mother, father, spouse, child).