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Notification
NEST is Montclair State’s primary way of contacting students
It is the students’ responsibility to regularly check NEST and their Montclair State email for any updates.
NEST
NEST allows students to review and manage their administrative activities including:
- Financial Aid
- Billing
- Holds
- Direct Deposit
- Registration
- Class Schedule
- Grades
- Student Forms
What is Financial Aid?
Financial Aid is a comprehensive term that includes
- Grants
- Work
- Scholarships
- Loans
- Any funds that do not come from you
Grants (Do not need to be paid back)
- Eligibility is determined by your FAFSA application
Includes:
- Federal Pell and SEOG
- Institutional grant eligibility
- NJ Tuition Aid Grant (NJ TAG)
- Students must complete the State Application at www.njgrants.org
- This process is required for NJ TAG, EOF, NJ Stars
Work Study
- Based on EFC eligibility and awarded on a first come, first awarded basis
- Students must get a job on campus to receive these funds
- Paid to the student biweekly, not to the bill
Stafford Loans
Federal loans for students enrolled at least half-time
- In the student’s name
- Fixed interest rate (4.53% 19-20 academic year interest rate)
- Typically most affordable type of student loans
- Repayment 6 months after student is no longer enrolled at least half-time.
Subsidized
- Interest does not accrue while student is enrolled
Unsubsidized
- Interest does accrue while student is enrolled.
Students must go to studentloans.gov and sign the master promissory note and complete entrance counseling in order for loans to pay against the account.
Parent PLUS Loan
- Federal loan for parents of dependent undergraduate students to help pay education expenses
- If PLUS loan is denied, additional unsubsidized loan is applied in student’s name
- To apply visit studentloans.gov
- Credit check required
- Repayment Options:
- Immediate monthly repayment
- Interest only repayment
- Complete deferment
- Repayment Options:
Students will use this website to sign their master promissory note and complete the entrance counseling for their Stafford loans
Parents will use this website to apply for the Parent PLUS loan and sign the promissory note for the PLUS loan
Private Loans – Student loan funds that are offered through banks or educational loan lenders
- Can be borrowed by student and/or parent
- Students will need a co-signer
ELMselect.com – will provide you with a list of historical private lenders, while allowing you to access and compare private loan interest rates.
Truth in Lending Act – requires a number of steps to be taken by the borrower and the lender before a loan can be disbursed
When Should I Apply?
Our Recommendations:
- Do not apply for Parent PLUS or private loans until July (Credit checks expire)
- Apply for the whole academic year
- Have your finances sorted out no later than July
Bills are due in August. Start Researching Now!
Scholarships
Merit Based Scholarships
- Offered through the Undergraduate Admissions Office
Departmental Scholarships
- Based on your major
- Students can apply after attending MSU for at least 1 semester
Outside Scholarships (private groups)
- HS Guidance Office
- Place of employment
- Church
- View Paying for College web page.
Can My Student Be Considered Independent?
There are only a few cases in which the federal government considers a student independent:
- 24 years old or older
- Married
- Have a child of their own which the student supports
- Veterans
- Orphan or ward of the court
- Homeless
- In a legal guardianship
- Graduate Student
Special Circumstances
The Federal Government allows review of a financial aid award package if there was a loss of income due to:
- Unemployment
- Loss of untaxed benefit (social security benefits, child support, etc.)
- Separation/Divorce
- Death of a wage earner
- Medical expenses that have been itemized on your federal tax return
- View Request for Review web page.
Why Doesn’t Montclair Have My FAFSA?
- Parent AND/OR student did not sign the FAFSA
- You did not apply Montclair’s school code on FAFSA (002617)
It is important that student go back to the FAFSA 48 hours after completing it to ensure that it was correctly processed.
Red Hawk Dollars and Books
Excess funds can be moved to Red Hawk Dollars or returned back to the student via check or direct deposit
Contact Us
Email – financialaid@montclair.edu
Location – Red Hawk Central
Phone – 973-655-4461
Fax – 973-655 – 7712
Please have the CWID number available when contacting our office*