Finalizing Your Financial Aid

Complete and submit the required online Financial Aid Additional Information Form.

To report outside (non-SDSM&T) scholarships or financial assistance that you will be receiving, please complete the Outside Financial Assistance Form.

After you have completed the financial aid accept/reject process in WebAdvisor, please see the instructions below for specific steps that must be completed for each financial aid program.

Direct Subsidized and/or Unsubsidized Student Loan

  • If you plan to borrow less than the full amount of your loan eligibility offered, please indicate the amount that you wish to borrow on the Financial Aid Additional Information Form.
  • If you have not previously borrowed a Direct Loan, you must complete a Direct Loan Master Promissory Note (MPN) and Loan Entrance Counseling (you must have your FAFSA PIN to complete these two items).
  •  Direct Subsidized/Unsubsidized Loan funds will not be available until the above steps have been completed.

Federal Perkins Loan

  • If you plan to borrow less than the full amount of your loan eligibility offered, please indicate the amount that you wish to borrow on the Financial Aid Additional Information Form.
  • You must complete and submit to the Financial Aid Office the Federal Perkins Loan Personal Information and Federal Perkins Loan Rights & Responsibilities forms. These two forms must be completed each year, even if you have previously borrowed a Perkins Loan.
  • After you have submitted the Federal Perkins Loan Personal Information and Federal Perkins Loan Statement of Rights and Responsibilities forms, you will receive an email message (to the address provided on the Personal Information Form) to go to the Sign My Loan website to finalize your Federal Perkins Loan Master Promissory Note (MPN). You must have your FAFSA PIN to electronically sign the MPN. This step must be completed each year, even if you have previously borrowed a Perkins Loan.
  •  All first-time Perkins Loan borrowers at SDSM&T must complete online Perkins Entrance Loan Counseling.
  •  Perkins Loan funds will not be available until all of the above steps have been completed.

Federal Work-Study (FWS)

  • You must be awarded Federal Work-Study by the Financial Aid Office in order to participate in this program. If your Financial Aid Award Notification does not list FWS but you are interested in participating in this program, please contact our office to see if you would be eligible to be placed on a waiting list.
  • If you have been awarded FWS, you must attend one of the informational sessions offered through the Financial Aid Office. This applies even if you have previously had a Federal Work-Study assignment at SDSM&T. The informational session will give you detailed information on your FWS responsibilities and available on and off-campus positions. You will receive an email regarding the date, time, and location of the FWS meeting. These details will also be available on the Work-Study/Employment page.
  •  You must bring to the meeting an original photo ID (driver’s license or SDSM&T ID card) — OR — a U.S. Passport and an original one of the following: Social Security Card or Birth Certificate. Please note: original documents are required; copies will not be accepted.
  •  You will be required to complete paperwork relative to your Work-Study position before you are allowed to begin working.
  •  You will be provided with information on positions that are available, both on and off-campus.

Direct Parent PLUS Loan

  • If the parent borrower plans to borrow less than the full amount of the loan eligibility offered, please indicate the amount that he/she wishes to borrow on the Financial Aid Additional Information Form.
  • The parent borrower of the Parent PLUS Loan must complete the Parent PLUS Loan Information Form and submit to the Financial Aid Office.
  •  If the parent borrower has not previously borrowed a Parent PLUS Loan for you, he/she must complete a Direct Parent PLUS Loan Master Promissory Note (MPN). The parent borrower’s FAFSA PIN will be needed to electronically sign the MPN.
  • Please note: The parent who requests a PLUS Loan on the Parent PLUS Loan Information Form must be the same parent to complete the MPN.

Attendance Confirmation via WebAdvisor

  • The Attendance Confirmation process is available on WebAdvisor approximately one month before the start of the fall and spring semesters.
  • Students need to complete this process each fall and spring semester that they are attending the School of Mines.
  • This process is used to determine if students are attending, how they plan to pay their account balance and by what means they wish to receive any refunds owed to them (by paper check and what address to mail it to or Direct Deposit to their bank account).
  • This process controls the disbursement of Federal and some non-Federal Student Aid programs.
  • This process also helps students on class waiting lists by removing students from class rosters who are not attending.
  • Your assistance in this process is very much appreciated!

Financial Aid Disbursement

    With the exception of Federal Work-Study, which is paid monthly, and some scholarships, which are paid according to the wishes of the donor, financial aid is either credited to your account or disbursed by check at the beginning of each semester, or after aid eligibility is determined, whichever is later.

    If your financial aid exceeds your institutional charges, you will be provided a cash disbursement via mail to the address provided during the Registration Confirmation process through WebAdvisor or via Direct Deposit which can be set up through WebAdvisor. Paper checks that require a student's endorsement are available in the Student Accounts Office beginning the first day of classes each semester. However, you must have with you a photo ID to pick up a paper check that is not needed to pay your bill. Due to unforeseen delays in processing or disbursing your aid, it is always a good idea for students to have enough money on hand to meet immediate expenses they might incur at the beginning of each semester, such as the purchase of books and supplies.

    Prior to disbursement of any type of financial aid awarded for attendance at the School of Mines, it will be determined if you are degree seeking at the School of Mines, meet the appropriate enrollment status for disbursement (for example, at least half time for student loans and generally full time for scholarships and fellowships), completed Entrance Loan Counseling for student loans and that you are maintaining Satisfactory Academic Progress toward the completion of your degree at the School of Mines. If you meet the disbursement requirements, your financial aid will be released to be applied to your account.

    Although you may receive a disbursement of your Federal Pell Grant Program during fee payment, your final payment will be based on your enrollment as of the final add/drop date each semester or what we refer to as the census date, which is at the end of the first 10%, or approximately the first 10 calendar days, of each semester. If your census date enrollment is for fewer credits than you were enrolled when the initial payment was processed, your Pell Grant award will be reduced accordingly. As a result, this action may result in you owing money back to the school. If that occurs, you will need to make immediate repayment arrangements with the Student Accounts Office. However, if your census date enrollment is for more credit hours than your payment was initially based on, then the additional funds will be applied to your account and if the change results in a credit balance, a refund or overage will be disbursed as discussed above.

    Students (and/or Parent PLUS borrowers) who wish to cancel the disbursement of their student loans must request this change in writing. A form is available through our office.

    Loan funds that arrive after the semester ends and you are no longer enrolled at the School of Mines cannot be released until it is determined if you meet the requirements for a late disbursement. We will also determine if you continued to meet the Satisfactory Academic Progress requirements. This same rule applies to other forms of financial aid that are paid retroactively during the award year.

    All institutional charges are due each semester by the final day of fee payment. This date corresponds to the day after the final add/drop date each semester. This date will be communicated to students via their Mines e-mail account and posted at key places around campus. If not paid when due, a late charge may be applied or your registration may be canceled. Even if you expect to receive financial aid at a later date, you are responsible to pay all University charges when due. If you have been awarded and accepted aid but the funds are not available by the payment deadline, you may request a deferment from the Financial Aid Office until your funds arrive. If your aid exceeds your school charges, you may qualify to receive an authorization to charge your books & supplies at the campus bookstore (see Student Accounts Office personnel for more information). However, a deferment will be approved during and after fee payment only if you have been awarded and have accepted financial aid. Otherwise, payment in full is required or you can apply to participate in the monthly payment program through the Student Accounts Office. The payment plan is available approximately one month before the start of each semester, or when billing statements become available.

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Always Here to Help

Financial aid is new territory for many students and their parents, and can some times be complex.

Please feel free to contact the School of Mines Financial Aid Office if you have questions or need assistance on financial aid matters.