The Office of Financial Aid at Rust College is here to help connect students and parents with the resources they need to make A Higher Education as affordable as possible. Rust College works hard to provide financial opportunities and address affordability issues. We have numerous academic, talent, merit, athletic scholarships and grants available to finance your education.

Asia Darby

Special Assistant to the Interim Director of Financial Aid

Responsibilities::
Awarding
Scholarship Management
Return of Title IV (R2T4) Funding
State Aid

Phone Number: 662-252-8000 ext. 4061
Email: adarby@rustcollege.edu

Benita Marion-Ivy

Financial Aid Counselor

Responsibilities::
Loan Processing
Federal Work-Study
Verification
Exit Counseling

Phone Number: 662-252-8000 ext. 4088
Email: bivy@rustcollege.edu

Suprena Duncan

Senior Financial Aid Counselor

Responsibilities::
Private Loan Processing
Default Management
Perkins Loan

Phone Number: 662-252-8000 ext. 4071
Email: sduncan@rustcollege.edu

• The 2026-2027 Free Application for Federal Student Aid (FAFSA) is expected to be available by the Department of Education. Complete yours as soon as it opens!
• Rust College School Code: 002433
• Income Information: You and your contributors (parents/spouse) should use 2024 income information and federal tax documents when completing the 2026-2027 FAFSA.

• Sign In to the My Bearcat Portal.
• Select Self-Service under Rust College Quick Links.
• Select Financial Aid.
• Select the 2026/2027 Academic Year.
• Complete your required documents (verification, etc.).

3. Update your housing status

1. Log in to the Bearcat Portal.
2. Go to the Finances/Financial Aid section.
3. Select Financial Aid and choose the appropriate aid year.
4. Look for the Housing Status section or a prompt asking about your housing.
5. Select the option that best describes where you will live:
   • On Campus – You will live in university housing.
   • Off Campus – You will live in an apartment, house, or other housing away from campus.
   • With Parents – You will live with your parent(s) or relatives.
6. Save/submit your selection.

• UNCF Scholarships: The general application for the 2026-2027 academic year typically opens around June 1st. Enter your specific details (GPA, State, Gender, Preferred College: Rust College) and use the search function to identify eligible scholarships.
• Mississippi Aid Application : Attention Mississippi Residents! Be sure to complete this application for potential state aid.
•  NAACP Scholarships
• General Board of Higher Education and Ministry Scholarships  

• Accept Your Federal Loans: After accepting your subsidized or unsubsidized loans in the My Bearcat Portal, you must complete two additional federal requirements:
  • Entrance Counseling | Federal Student Aid
  • Master Promissory Note | Federal Student Aid
• Federal PLUS Loan: Parents may apply for the Federal Parent PLUS Loan.
  • Note: If the Parent PLUS Loan is denied, the Office of Financial Aid may be able to offer the student an additional $4,000.00 in unsubsidized loan in the student’s name.

• Private Lenders: Rust College students often use College Ave and Sallie Mae Student Loan for private loan options, but we encourage students to explore all available resources.
  • Note for Previous Balances: If you are applying for a private loan to cover a previous balance, ensure you use the academic year dates when that balance was accrued.

Requirements Checklist

Step 1: Accept Your Award
Log into the MyBearcat Portal to accept your Federal Work-Study Award.

• Note: Students who complete the 2026-2027 FAFSA early are prioritized for funding.

Step 2: Secure Employment
Interview with and be hired by a campus employer.

• Note: Your supervisor must submit your job description and class schedule to the Rust College Financial Aid Office.

Step 3: Submit Work-Study Documentation
Complete the 2026-2027 Federal Work-Study Info Sheet and Job Agreement. 

Step 4: Finalize Supervisor & Privacy Forms
Complete the 2026-2027 Supervisor Agreement and the Student Statement of Privacy Adherence Form.

Step 5: Sign Confidentiality Agreement
Complete the official Rust College Confidentiality Agreement.

Step 6: Identity Verification
Provide a physical copy of your Photo ID and Social Security Card.

Step 7: Complete the I-9 Form
Fill out the U.S. Employment Eligibility Verification (I-9) form U.S. Employment Eligibility Verification (I-9) form.

Step 8: Review the Payroll Calendar
Review the 2026-2027 Federal Work-Study Payroll Schedule to ensure you know your payment dates. Please note that this schedule will be published by the Payroll Department at a later date.

Need Help?
The Financial Aid team is ready to support you. Reach out via email at financialaid@rustcollege.edu.

What exactly is the “cost of attendance?”

Cost of Attendance (COA) is the estimated total expenses a student should anticipate having while attending college for an academic year. All schools are required to have a Cost of Attendance that includes both billable charges that you will see on your billing statement from the school (i.e. tuition, fees, housing (resident students only), meal plan), and non-billable estimated expenses that are not paid to the school (i.e. transportation, living expenses, off-campus rent (commuter students only).

Why is this listed on my financial aid offer?

1. to give you an estimate of the cost to attend Rust College for one year, and
2. to estimated non-billable expenses that are included in a school’s Cost of Attendance to allow students to borrow and receive financial aid to assist with those educational expenses if needed.

What’s included in my COA?

• Direct costs are items that will appear on your bills, such as tuition, fees, books, housing and food (if you live on campus).
• Indirect costs will not appear on your bill but are estimated costs associated with going to college and should be included in your budget. These include items like transportation and personal expenses.

For example…

A typical Rust College student living on campus and taking a full load of classes (12 hours per Fall and Spring semester) might have the following cost for the 2025-2026 school year. This is an example, and students are encouraged to visit the cashier’s office page to find the 2025-2026 Schedule of Fees:

• Housing Status: This means where you live while attending school.
• On-campus housing (Resident Student): You live in a dorm or other housing provided by the school.
• Off-campus housing (Commuter Student): You live in an apartment, house, or other place that is not on campus.
• Living at home (Commuter Student): You live with your parents, guardians, or other relatives and travel to campus for classes.
• Enrollment Level: Undergraduate Students enrolled in 12+ credits per semester (full-time), 11 or less credits per semester (part-time).

Fall 2026 – Spring 2027 Undergraduate Student

Refunds from excess Financial Aid sources are made in accordance with applicable federal requirements governing Title IV financial aid.

Excess funds are any credit balance (funds remaining) on your student account after your tuition and fees have been paid. Funds are first applied to your tuition and fee charges. Any remaining funds (excess funds) are disbursed to you, the student.

If you were awarded financial aid and need to check whether or not you will be receiving a refund, you can check this information using the MyBearcat Portal. Once in the Account Center, go to My Finances > Account Information to view your Account Details. If there is an amount NOT in parenthesis in the Balance column, you do not currently have a credit balance on your account and will not receive excess funds until after there is a credit balance on your account.

Log into your MyBearcat Portal account to verify your current mailing address. Your current address is located under User Options > User Profile. If your address is incorrect, please update your address with the Office of the Registrar at 662-252-8000 to prevent a check from being mailed to an outdated address.

Checks are not mailed to foreign addresses or Post Office Boxes.

The College disburses Title IV funds by crediting the student’s account. If the student has a credit balance when the Title IV funds are applied to their account, the College generates a refund to the student for the total credit balance within 14 days of the date the credit balance was created on the student’s account.

The College does not mail checks to Post Office Boxes.

Authorization to Hold Excess Funds

A student may request that the College hold an eligible Title IV credit balance on the student’s account for future charges by submitting the Authorization to Hold Excess Funds Form to the Cashier’s Office.

The Authorization to Hold Excess Funds is voluntary. A student is not required to authorize the College to hold a credit balance in order to receive eligible federal financial aid.

Federal requirements place limits on how long Title IV funds may be held under an authorization:

• Federal student loan funds generally may not be held beyond the end of the applicable loan period.
• Other Title IV funds, such as Federal Pell Grant funds, generally may not be held beyond the end of the last payment period in the applicable award year.

A student may cancel or modify an Authorization to Hold Excess Funds at any time. After the College receives the cancellation notice, any remaining credit balance subject to the cancellation must be paid to the student as soon as possible, but no later than 14 days after the College receives the notice.

Direct Deposit

Students are encouraged to sign up for direct deposit with the Cashier’s Office to receive eligible refunds electronically.

The College strongly encourages all students to pick up their refunds within 10 days after notice of a refund. If the student does not pick up the check, checks are mailed via the United States Postal Service to the address that is on file.

Checks are not mailed to foreign addresses or Post Office Boxes.

Refunds are processed by the Cashier’s Office within fourteen (14) days after the date the credit balance is generated.

A student may authorize Rust College to hold an eligible credit balance on their account for future charges, subject to applicable federal requirements and the terms of the authorization.

Institutional Scholarships cannot be refunded to the student.

Federal Parent PLUS Loans

Credit balances that result from a Federal Parent PLUS Loan will be refunded or held per the borrower’s written request.

Parents may choose to have the balance:

• Refunded to the parent;
• Refunded to the student; or
• Held on the student’s account for future charges.

Any request to hold the balance must be made through the appropriate Authorization to Hold Excess Funds process with the Cashier’s Office.

Checks will be mailed to the address on file. Checks are not mailed to foreign addresses or Post Office Boxes.

If a student or parent cancels an authorization to hold excess Title IV funds, the funds must be paid directly to the student or parent, as applicable, as soon as possible but no later than 14 days after the Cashier’s Office receives the notice.

Federal requirements may also establish specific deadlines for releasing credit balances resulting from federal loans and other Title IV funds. Therefore, an authorization to hold funds does not permit the College to hold Title IV funds indefinitely.

Uncashed and unclaimed refund checks will be credited back to the student’s account and the funds returned to the appropriate federal program from which they were received, as required by applicable federal requirements.

DISBURSEMENT SCHEDULE

The first refund resulting from excess Financial Aid for each semester will be available soon after the third or fourth week of class.

To receive a refund at that time, your financial aid must have been processed prior to the financial aid deadlines.

Financial Aid will be transmitted weekly.

Questions About Your Refund?

For questions about your credit balance, refund, direct deposit or Authorization to Hold Excess Funds, please contact the Cashier’s Office at 662-252-8000 extension 4026.

For questions about your financial aid eligibility, awards, FAFSA, grants, scholarships, or loans, please contact the Financial Aid Office at financialaid@rustcollege.edu or 662-252-8000 and select option 2.

FAFSA Simplification

The FAFSA Simplification Act makes applying for federal financial aid easier and more streamlined. The 2026–27 FAFSA is for students attending college from July 1, 2026, through June 30, 2027.

The 2026–27 FAFSA:

• Uses 2024 federal tax information.
• Requires students and required contributors to have their own StudentAid.gov accounts.
• Requires consent and approval for IRS tax information to be transferred to the FAFSA.
• Uses the Student Aid Index (SAI) instead of the former Expected Family Contribution (EFC).
• Allows students to list up to 20 schools.
• May determine eligibility for federal grants, loans, and work-study.

2026–27 Financial Aid Timeline

Apply for the FAFSA

Complete the 2026–27 FAFSA.

Rust College Federal School Code: 002433

After submitting the FAFSA, review your FAFSA Submission Summary and complete any required corrections or verification documents.

Mississippi students may qualify for state grants and scholarships. The Mississippi Aid Application (MAAPP) is separate from the FAFSA and must be completed each academic year when required.

Important Deadlines

Apply and find current requirements through the Mississippi Office of State Financial Aid.

MAAPP: Apply for Mississippi State Aid

Once your financial aid file is complete, Rust College will review your eligibility and provide a financial aid offer.

By April 1, 2026, students should:

• Accept their financial aid offer
• Sign their offer letter
• Select their housing selection (on campus, with parent, off campus) to determine your financial aid cost of attendance.
• Complete any outstanding financial aid requirements

Monitor your Bearcat Portal and student email for updates and requests for additional documents.

Please submit all documents in their entirety. Incomplete documents will cause delays and will be returned for completeness.

There is now a faster, more efficient method of sending your completed required documents! Login to the MyBearCat Portal choose “Required Documents” and click the manage button to begin your upload. Additionally, your information can also be mailed to the Office of Financial Aid.

Note: If you need access or need your login reset, please send an email to helpdesk@rustcollege.edu.

2026-2027 Verification V5 Worksheet

2026-2027 Bachelors Degree Verification Form

2026-2027 Verification V4 Worksheet

2026-2027 Dependency Status Verification Form

2026-2027 Dependent Student UNSUB Loan Affirmation

2026-2027 Low Income Verification

2026-2027 Special Circumstance Request Form

2026-2027 UEH Appeal Form

2026-2027 Verification of Non-Filing

2026-2027 Standard Verification V1 Worksheet

2026-2027 Unaccompanied & Homeless Youth Form

2026-2027 Total and Permanent Disability – Student Statement

SAP APPEAL FORM

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.

Due to the FAFSA Simplification Act, there will be several changes to Pell Grant calculations starting in the 25-26 academic year. FAFSA completion is still required, however the EFC is changing to the Student Aid Index (SAI), which will be used to determine a scheduled Pell Grant award. A student’s enrollment intensity will be taken into consideration when calculating a semester’s Pell Grant amount. The maximum Pell Grant for the 2025/2026 academic year is $7,395, provided that you are enrolled in 12 or more units for both the Fall and Spring semesters, and your Student Aid Index (SAI) falls between -1500 and 0.

Enrollment intensity is now used to calculate your Pell Grant award, providing a more accurate calculation. The chart below applies to the Federal Pell Grant, while other aids like SEOG will continue to use the Enrollment Level system.  See image below:

Federal Supplemental Educational Opportunity Grant (FSEOG)

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 funds are only awarded to FPELL eligible students. The grant ranges from $100 to $4,000 per academic year, depending on need and availability of funds.

Federal Work-Study Program (FWSP)

The College Work-study Program is a federal program that provides part-time employment to FPELL eligible students who are enrolled at Rust College. Students are employed on campus by a variety of departments, with the typical student working approximately 10-15 hours per week. They are paid minimum wage. Also, the program encourages community service work and work related to a student’s course of study.

Mississippi students may be eligible for several state-funded grants and scholarships. Students should complete the Mississippi Aid Application (MAAPP) each academic year to be considered for applicable Mississippi state financial aid programs.

The MAAPP is a separate application from the FAFSA. Students should complete both applications when required for the programs for which they are applying.

Mississippi State Financial Aid Deadlines

Important Mississippi State Aid Information

• Students must submit a new MAAPP each academic year in which they want to be considered for Mississippi state financial aid.
• The FAFSA and MAAPP are separate applications. Completing the FAFSA does not automatically complete the MAAPP.
• The HELP Grant MAAPP deadline is March 31, 2026, with supporting documents due by April 30, 2026.
• The Nissan Scholarship deadline is March 1, 2026.
• The MTAG and MESG deadline is September 15, 2026, with supporting documents due by October 15, 2026.
• Students should monitor their MAAPP account for application updates and requests for additional documentation.
• Students receiving Mississippi state aid must reapply each academic year.

Apply for Mississippi State Financial Aid

For the most accurate and up-to-date information about Mississippi state financial aid, including the MAAPP, HELP Grant, MTAG, MESG, FAITH Scholarship, Nissan Scholarship, deadlines, eligibility requirements, and required documents, visit the official:

Mississippi Office of State Financial Aid

Students can also access the MAAPP Dashboard and application through the Mississippi Office of State Financial Aid.

Mississippi Office of State Financial Aid
1-800-327-2980 (toll-free in Mississippi)
601-432-6997

The Mississippi Office of State Financial Aid provides information on state-funded grants, scholarships, application requirements, deadlines, and the MAAPP.

Scholarships are an excellent way to help finance a college education and are one of many resources available to assist students with educational expenses. Rust College offers a variety of institutional, endowed, athletic, performance-based, and external scholarship opportunities designed to support students based on academic achievement, leadership, participation, talent, financial need, and other scholarship criteria.

Scholarship eligibility, award amounts, and renewal requirements vary by program and are subject to availability of funds. Students are encouraged to complete admission and financial aid requirements early to maximize scholarship opportunities.

How Scholarships Are Awarded

Students who submit an application for admission to Rust College are automatically reviewed for consideration for eligible institutional scholarships based on submitted academic credentials and other required information.

Students seeking scholarship consideration must complete all required applications and submit supporting documentation as requested.

Institutional scholarship awards are last-dollar awards and are applied after federal, state, external, and other scholarship assistance has been applied to the student’s account. These awards are intended to assist with remaining eligible educational expenses and are not refundable. Any unused portion of an institutional scholarship award will not be issued as a refund to the student.

FAFSA Requirement for Scholarships

Students who are eligible U.S. citizens and seeking consideration for scholarships requiring financial need information must complete the Free Application for Federal Student Aid (FAFSA®) each academic year.

Beginning with students newly awarded the E.A. Smith Presidential Scholarship for Fall 2026, completion of the FAFSA® is required as part of the scholarship awarding process. Students must submit the FAFSA® and complete any required financial aid documentation to receive and maintain eligibility for the E.A. Smith Presidential Scholarship.

Students are encouraged to complete the FAFSA® early each year.

The Founders Scholarship and Tuition Equalization Scholarship will be awarded by financial aid  to eligible students on a first-come, first-served basis until the annual scholarship budget has been exhausted.

These scholarships are limited-funding institutional awards. Meeting the academic eligibility requirements does not guarantee receipt of an award, as awards are subject to available funding and completion of all required requirements. Once the annual scholarship budget has been met, these awards will no longer be available for that academic year.

Eligible U.S. citizens must complete the FAFSA® and submit all required financial aid documentation beginning October 1 each academic year to be considered for the Founders Scholarship and Tuition Equalization Scholarship. Students are strongly encouraged to complete the FAFSA® as soon as it opens and submit required documentation promptly to strengthen their opportunity for consideration.

Institutional Scholarships

Institutional Tuition Credit: Scholarship funds applied toward institutional tuition and mandatory institutional fees charged by Rust College, up to the annual award amount. Eligible charges include tuition for enrolled credit hours, student activity fees, and technology fees. Institutional Tuition Credit does not cover housing, meal plans, books, transportation, or personal expenses unless specifically stated.

Performance-Based Scholarships

Rust College offers performance-based scholarship opportunities for students participating in approved College programs. These scholarships recognize talent, participation, and commitment in designated program areas.

Performance-based scholarship decisions are based on talent, program needs, participation requirements, and availability of funds.

Athletic Scholarships

Rust College offers athletic scholarships to eligible student-athletes participating in approved intercollegiate athletic programs.

Athletic scholarships are awarded based on athletic ability, team needs, coaching recommendations, and availability of institutional funds. Rust College participates in intercollegiate athletics under the governance of the National Association of Intercollegiate Athletics (NAIA) and applicable athletic conference requirements.

Student-athletes must meet institutional and applicable athletic eligibility requirements to
receive and maintain athletic scholarship assistance.

Endowed Scholarships

Endowed scholarships at Rust College are made possible through the generosity of alumni, foundations, and dedicated friends of the College. These funds provide vital financial assistance to eligible students, celebrating academic achievement, leadership, community service, and financial need based on specific donor criteria.

A comprehensive, up-to-date registry of all endowed scholarship opportunities and eligibility guidelines is maintained through a joint partnership between the Office of Financial Aid and the Office of Institutional Advancement.

How Students Are Notified

The College actively announces available endowed scholarship opportunities through official Rust College communication channels, including:

• Email: Direct notifications sent to your official Rust College email address.
• The Bearcat Portal: Centralized alerts posted directly on your student dashboard.
• Text Messages: SMS notifications sent directly to your registered mobile number.
• Web Announcements: Public updates published on the official Rust College website.

Application Instructions

Once admitted, students can access the Rust College General Scholarship Application and view individual endowed scholarship listings by following these steps:

1. Visit the Rust College Bearcat Portal Sign-In Page  and log in using your student credentials.
2. Navigate to the Financial Aid Home section.
3. Look under the Resources tab to view all Available Scholarship Opportunities.

Note: Please check the portal regularly, as new scholarship opportunities are updated frequently throughout the academic year.

Applying for Endowed Scholarships

To be considered for endowed scholarship opportunities, students should:
1. Apply for admission to Rust College or be an enrolled student eligible for scholarship consideration.
2. Complete the FAFSA® for the applicable academic year, when required.
3. Complete the Rust College Scholarship Applications when available.
4. Submit all required documentation by the published application deadline.

Many endowed scholarships have limited funding and may be awarded based on eligibility requirements and availability of funds. Students are encouraged to complete all scholarship application requirements early.

External Scholarship Opportunities

Rust College students are encouraged to explore additional scholarship opportunities from external organizations, foundations, and state-funded financial aid programs. External scholarships may have separate eligibility requirements, application processes, and deadlines established by the sponsoring organization.

Students should carefully review eligibility criteria and submit all required materials by the applicable deadlines.

United Negro College Fund (UNCF) Scholarships

Rust College students may apply for scholarship opportunities available through the United Negro College Fund (UNCF). UNCF scholarships may be based on academic achievement, financial need, leadership, community involvement, enrollment status, and other scholarship-specific requirements.

Students must review individual scholarship requirements and complete the applicable application process.

Apply for UNCF scholarship opportunities through the official UNCF scholarship application resources:

UNCF Scholarships and Grants Application Information

Scholarship Renewal Information

Scholarship recipients must maintain the required GPA, enrollment requirements, and any additional conditions established for their specific scholarship program to continue receiving scholarship assistance.

Rust College provides a one-semester GPA waiver opportunity for scholarship recipients who do not meet the required GPA renewal standard. The waiver provides an opportunity for an eligible student to regain the required GPA while maintaining scholarship consideration.

Students receiving a GPA waiver must continue to meet all other scholarship requirements, including enrollment status and any program-specific conditions. The GPA waiver is limited to one semester and is subject to approval in accordance with institutional scholarship policies.

Scholarship criteria, award amounts, application procedures, and deadlines are subject to change based on funding availability, institutional policies, and donor requirements.

For the most current scholarship information, students should contact the Office of Financial Aid or the Office of Institutional Advancement.

April 1 — FAFSA Priority Deadline

Complete the **2026–2027 FAFSA by April 1** to receive priority consideration for financial aid and institutional scholarships at Rust College. Rust College encourages students to complete the FAFSA as soon as it becomes available and uses FAFSA information to determine eligibility for federal, state, and institutional aid. Rust College’s FAFSA school code is **002433**.

September 15 — Mississippi State Aid Deadline

Mississippi residents seeking state-funded aid such as the **Mississippi Tuition Assistance Grant (MTAG)** or **Mississippi Eminent Scholars Grant (MESG)** must submit their Mississippi state aid application by **September 15**. Supporting documents for MTAG and MESG are due by **October 15**.

**Important:** Students should complete the FAFSA and Mississippi state aid application as early as possible. Individual scholarships and grants may have separate deadlines and eligibility requirements.

Student Loans

Rust College Office of Financial Aid

Student loans are a form of financial aid that must be repaid with interest. Rust College participates in the William D. Ford Federal Direct Loan Program, administered by the U.S. Department of Education.

Students should carefully consider borrowing only what is necessary to cover educational expenses.

For additional information about federal student aid programs, visit:

Federal Student Aid
https://studentaid.gov

Reviewing and Accepting Federal Student Loans

After you receive your acceptance letter from Rust College, you will gain access to the My Bearcat Portal   to view and complete your required financial aid steps.

The Office of Financial Aid will mail financial aid information and update your portal weekly. Students should regularly check their portal for updates, required documents, and financial aid notifications.

To review and accept or decline your Federal Direct Loan offer:

1. Sign in to the My Bearcat Portal.
2. Select Self-Service under Rust College Quick Links.
3. Select Financial Aid.
4. Select the 2026–2027 Academic Year.
5. Review your financial aid offer.
6. Accept or decline your Federal Direct Loan offer.

Students are encouraged to carefully review their loan amounts before accepting loans. Borrow only what is necessary, as all Federal Direct Loans must be repaid with interest.

Federal Direct Student Loans

The Federal Direct Loan Program provides low-interest loans to eligible undergraduate students enrolled at least half-time (6 credit hours).

To receive a Federal Direct Loan, students must complete the following requirements:

1. Submit the Free Application for Federal Student Aid (FAFSA).
2. Accept or decline loans through the Rust College student financial aid portal.
3. Complete Entrance Counseling (first-time borrowers only).
4. Complete the Annual Student Loan Acknowledgement.
5. Sign a Master Promissory Note (MPN).

Entrance Counseling, Annual Student Loan Acknowledgement, and the Master Promissory Note are completed at:

• Entrance Counseling:
  https://studentaid.gov/entrance-counseling
• Master Promissory Note:
  https://studentaid.gov/mpn

Direct Subsidized Loans

Direct Subsidized Loans are available to undergraduate students who demonstrate financial need.

Key features:

• The U.S. Department of Education pays the interest while the student is enrolled at least half-time.
• Interest is also covered during the grace period and approved deferment periods.

Learn more:

https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized

Direct Unsubsidized Loans

Direct Unsubsidized Loans are available to undergraduate students regardless of financial need.

Key features:

• Interest begins accruing when the loan is disbursed.
• Students may choose to pay interest while enrolled or allow interest to capitalize.

Learn more:

https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized

Federal Direct Loan Limits

Annual borrowing limits depend on a student’s dependency status and academic grade level.

Dependent Undergraduate Students

Independent Undergraduate Students and Dependent Students Whose Parents Are Unable to Borrow a Parent PLUS Loan

Additional federal loan limit information:

https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized

Schedule of Reduction of Annual Loan Limits
Effective July 1, 2026

Beginning with the 2026–2027 award year, federal law requires a Schedule of Reduction of Annual Loan Limits for Federal Direct Loans based on a student’s enrollment intensity.

A student’s applicable annual Federal Direct Loan limit is reduced when the student is enrolled in fewer than full-time enrollment (12 credit hours).

The applicable annual loan limit is determined by multiplying the student’s otherwise applicable annual loan limit by the student’s enrollment intensity.

At Rust College, reductions to Federal Direct Loan eligibility based on enrollment intensity begin on the second day of classes for each term.

Financial aid offers for the Fall and Spring semesters are initially based on full-time enrollment of 12 credit hours.

Students who enroll in fewer than 12 credit hours may have their Federal Direct Loan eligibility adjusted based on their actual enrolled credit hours in accordance with the Schedule of Reduction of Annual Loan Limits and applicable federal regulations.

Example Calculation

A first-year dependent student has an annual Federal Direct Loan limit of:

• Direct Subsidized Loan: $3,500
• Direct Unsubsidized Loan: $2,000
• Total Annual Loan Limit: $5,500

A student enrolled in 9 credit hours:

9 ÷ 12 = 75% enrollment intensity

$5,500 × 75% = $4,125 applicable annual loan limit

Schedule of Reduction of Annual Loan Limits

Note: This chart is provided as an example to illustrate the Schedule of Reduction of Annual Loan Limits. Actual Federal Direct Loan eligibility is determined according to federal regulations and each student’s individual eligibility.

Students enrolled fewer than 6 credit hours are not eligible for Federal Direct Loans.

Federal Direct Parent PLUS Loans

The Federal Direct Parent PLUS Loan allows eligible parents of dependent undergraduate students to borrow funds to help pay educational expenses not covered by other financial aid.

To receive a Parent PLUS Loan, the parent borrower must:

• Complete the student’s FAFSA.
• Meet federal eligibility requirements.
• Pass a federal credit review or qualify through the federal appeal or endorser process.

Parent PLUS Loan Limits
Effective July 1, 2026

For new Parent PLUS Loan borrowers, federal law establishes the following limits:

• Annual Parent PLUS Loan Limit: $20,000 per dependent student per academic year.
• Aggregate (Lifetime) Parent PLUS Loan Limit: $65,000 per dependent student.

The annual Parent PLUS Loan cannot exceed the student’s remaining Cost of Attendance after all other financial assistance has been applied.

Example:

Cost of Attendance: $26,056

Other Financial Aid: $18,500

Remaining Eligibility: $7,556

The maximum Parent PLUS Loan amount for this example is $7,556.

Parents should borrow only what is necessary to cover educational expenses.

Federal Loan Origination Fees

Federal Direct Loans and Parent PLUS Loans are subject to origination fees established annually by the U.S. Department of Education.

The origination fee is deducted from the loan amount before funds are disbursed.

Current fee information:

https://studentaid.gov/understand-aid/types/loans/interest-rates

Loan Entrance Counseling

First-time borrowers must complete Entrance Counseling before receiving federal loan funds.

Entrance Counseling explains:

• Borrower responsibilities
• Interest accrual
• Repayment options
• Consequences of default

Complete Entrance Counseling:

https://studentaid.gov/entrance-counseling

Loan Repayment

Federal student loan repayment generally begins six months after a student:

• Graduates
• Leaves school
• Drops below half-time enrollment

Learn more about repayment plans:

https://studentaid.gov/manage-loans/repayment

Repayment Calculator

Estimate your monthly student loan payments at https://studentaid.gov/repayment-calculator/ and select a loan repayment option that best meets your needs and goals. You can also use this calculator to decide whether to consolidate your student loans.

Federal Loan Exit Counseling

Students who graduate, withdraw, or drop below half-time enrollment must complete Exit Counseling.

Exit Counseling provides information about:

• Repayment responsibilities
• Loan servicer information
• Avoiding loan default

Complete Exit Counseling:

https://studentaid.gov/exit-counseling

Private Education Loans

Private student loans are offered by private lenders and are not part of the federal student aid program.

Students should exhaust all federal aid options before applying for private loans.

Private loans may require:

• Credit approval
• A creditworthy co-signer
• Immediate interest accrual

Rust College does not require students to use a specific lender and will process loans from any eligible lender.

Private Loan Lenders

Sallie Mae Student Loans
https://www.salliemae.com/student-loans/

College Ave Student Loans
https://www.collegeavestudentloans.com/

Students should compare lenders, interest rates, repayment terms, and borrower protections before borrowing.

Responsible Borrowing

Borrow only what is necessary to cover educational expenses.

Students should consider:

• Total loan debt
• Expected future earnings
• Monthly repayment obligations

Loan repayment calculator:

https://studentaid.gov/loan-simulator

Notice of Federal Student Loan Reporting (NSLDS)

In accordance with the Higher Education Act (HEA), Rust College reports Title IV Federal Direct Loan information to the National Student Loan Data System (NSLDS).

Information reported includes:

• Loan amounts
• Loan status
• Disbursement dates

Authorized users include:

• U.S. Department of Education
• Eligible institutions
• Guaranty agencies
• Authorized lenders

Students may access their federal student loan history through:

https://studentaid.gov

Contact Rust College Office of Financial Aid

Rust College Office of Financial Aid

150 Rust Avenue
Holly Springs, Mississippi 38635

Phone: (662) 252-8000

Website: https://www.rustcollege.edu

Students with questions about Federal Direct Loans, Parent PLUS Loans, or private education loans are encouraged to contact the Office of Financial Aid for assistance.

Overview

Rust College is committed to supporting student success, academic achievement, and timely degree completion. Satisfactory Academic Progress (SAP) is the standard used by the College to evaluate whether students are making adequate academic progress toward completing their educational program and maintaining eligibility for applicable financial aid.

SAP requirements are evaluated by the Office of Financial Aid at the conclusion of each semester after grades have been finalized. Students who do not meet SAP requirements may be subject to a financial aid warning, loss of financial aid eligibility, or other SAP status as outlined in the College’s SAP Policy.

Students are encouraged to review the complete policy to understand the requirements for:

• Completion Rate (Pace)
• Cumulative Grade Point Average (GPA)
• Maximum Time Frame
• SAP statuses
• Academic Plans
• Appeals and reinstatement of financial aid eligibility

SAP Policy

SAP Appeal

Students who have been placed on SAP Ineligible status and have experienced documented extenuating circumstances that prevented them from meeting SAP requirements may submit a SAP appeal.

An appeal must include the completed appeal form, a written explanation of the circumstances that affected the student’s academic progress, appropriate supporting documentation, and an Academic Plan when required.

Submitting an appeal does not guarantee approval. Students should submit complete appeals as early as possible and by the applicable deadline.

Appeal Instructions

Before submitting a SAP appeal, students should:

1. Complete all required sections of the SAP Appeal Form.
2. Provide a typed explanation of the circumstances that prevented them from meeting SAP requirements.
3. Explain what has changed and the steps they will take to improve their academic performance.
4. Attach documentation supporting the circumstances described in the appeal.
5. Complete the Academic Plan with their Academic Advisor when required.
6. Obtain all required signatures.
7. Submit the completed appeal and supporting documentation by the applicable deadline.

SAP Appeal Deadlines for 2026–2027

Students who are required to submit a Satisfactory Academic Progress (SAP) appeal must submit their completed appeal, including all required documentation, by the deadline listed below.

Important: Students enrolled in any 16-week course during the semester must follow the 16-week SAP appeal deadline, even if they are also enrolled in an 8-week course. Students enrolled only in an 8-week session must follow the deadline for that session.

Important Deadline Information

SAP appeals received after the published deadline will not be reviewed for the current enrollment period.

Students are encouraged to submit their appeals as early as possible to allow adequate time for review and processing. Incomplete appeals will not be reviewed.

Submit Your SAP Appeal

Completed SAP appeals and required supporting documentation should be submitted to:

Office of Financial Aid
Rust College
150 Rust Avenue
Holly Springs, MS 38635

Email: financialaid@rustcollege.edu

Students should ensure that all required documentation is included before submitting their appeal.

SAP Resource

• Satisfactory Academic Progress Policy — FA-0001-Add link here
• SAP Appeal Form & Instructions-Add link here

For questions regarding SAP eligibility or the appeal process, contact the Rust College Office of Financial Aid at financialaid@rustcollege.edu.

2026–2027 Financial Aid

Rust College recognizes that circumstances affecting a student or family may change after information used on the FAFSA has been reported. In certain situations, students may request a review of their financial aid information through the Special Circumstance Appeal or Dependency Status Verification/Professional Judgment process.

These processes allow the Office of Financial Aid to review circumstances that may not be fully reflected on the FAFSA. Each request is reviewed individually based on the information and documentation provided.

A review does not guarantee an increase, change, or additional award of financial aid.

Important: Students are responsible for meeting all applicable tuition, fees, and student account payment deadlines while an appeal is being reviewed.

Which Request Should I Submit?

Special Circumstance Appeal

A Special Circumstance Appeal may be appropriate when a student’s or family’s current financial circumstances have changed significantly from the information reported on the FAFSA.

Examples may include:

• Loss or significant reduction of employment or income
• Loss or reduction of unemployment or other benefits
• A one-time income or distribution that does not accurately represent the family’s ongoing financial situation
• Divorce or legal separation
• Death of a parent or an independent student’s spouse
• Other significant changes in financial circumstances that may affect the student’s ability to pay for college

The Special Circumstance process may allow the Office of Financial Aid to review and, when appropriate, adjust certain FAFSA information used to determine financial aid eligibility.

Approval of an appeal does not guarantee an increase in financial aid.

Dependency Status / Professional Judgment Request

The Dependency Status Verification Form is intended for students who do not meet the federal FAFSA criteria for independent student status but believe unusual circumstances prevent them from providing parental information.

Circumstances may include:

• Abandonment by a parent
• Physical, sexual, emotional, or verbal abuse
• A parent being incarcerated
• A parent being institutionalized and unable to complete the FAFSA
• Death of a custodial parent when there is no contact or support from the other parent
• Parents whose location is unknown or who cannot be contacted under the circumstances described in the form
• Other unusual circumstances that may warrant consideration of a dependency override

A dependency override is not based solely on a student’s desire to be financially independent, the fact that the student lives away from home, or a parent’s refusal to provide FAFSA information.

Students requesting a dependency override must provide a written explanation and supporting documentation.

Before You Submit

1. Choose the Appropriate Form

Select the form that best matches your circumstances.

Special Circumstance Request Form

Dependency Status Verification Form

2. Explain Your Circumstances

Provide a clear and detailed explanation of your situation.

Your explanation should describe:

• What happened
• When the circumstance occurred
• How the circumstance has affected you or your family financially
• How your current circumstances differ from the information reported on your FAFSA
• Any additional information that may help the Financial Aid Office understand your circumstances

Be specific and provide dates whenever possible.

3. Provide Supporting Documentation

Documentation is required to support the circumstances described in your appeal.

Examples may include:

• Employer statements
• Pay stubs
• Unemployment documentation
• Tax documents
• W-2 forms
• Divorce or separation documentation
• Death certificates or obituaries
• Court documents
• Legal documents
• Medical or professional documentation, when appropriate
• Statements from qualified third parties
• Other documentation requested by the Financial Aid Office

Incomplete requests may be delayed, denied, or returned for additional information.

4. Sign the Form Correctly

Review the completed form carefully before submitting it.

The Rust College forms contain specific signature requirements. Students should follow the signature instructions included on the applicable form.

For the Dependency Status Verification Form, electronic signatures are not accepted.

Special Circumstance Documentation

The documentation required depends on the circumstance being appealed.

Loss or Reduction in Employment

Students may be asked to provide documentation such as:

• A letter from the former employer showing the employment separation date
• Severance or payout documentation
• Unemployment benefit documentation
• Current tax forms and W-2s
• Current year-to-date pay documentation

Eight-Week Requirement

For an appeal based on loss or reduction of employment, the Rust College 2026–2027 Special Circumstance Request Form indicates that unemployment must generally have lasted at least eight weeks before the appeal will be considered.

Students should carefully review the form to determine which documentation applies to their individual situation.

Loss or Reduction of Income or Benefit

Supporting documentation may include:

• Documentation from the appropriate state or federal agency
• Benefit termination documentation
• Benefit schedules
• Documentation showing the amount of benefits received
• Current income documentation
• Other documentation demonstrating the reduction in income

One-Time Income or Distribution

If the FAFSA includes income that was received only once and does not accurately represent the family’s ongoing financial circumstances, students may be asked to provide:

• A written explanation of the one-time income
• Documentation showing the source and amount of the income
• Documentation showing how the funds were used, when applicable
• Current tax forms and W-2s

Examples may include certain retirement distributions, investment distributions, inheritances, or other unusual one-time payments.

Divorce or Legal Separation

Documentation may include:

• Divorce decree
• Legal separation agreement
• Documentation showing that the parties live separately
• Lease agreements
• Utility bills
• Documentation showing separate financial responsibility
• Current tax forms and W-2s

Death of a Parent or Spouse

Documentation may include:

• Death certificate
• Obituary
• Current tax forms and W-2s
• Written statement from the student or surviving spouse
• Other documentation requested by the Financial Aid Office

Dependency Status Verification Documentation

Students requesting a dependency override should submit the required documentation with the Dependency Status Verification Form.

Student Personal Statement

The student should provide a signed personal statement explaining the history of the relationship with their biological or legal parents and the circumstances that resulted in estrangement.

The statement should address, when applicable:

• Specific circumstances that resulted in the estrangement
• When the circumstances occurred
• Where the student lived after leaving the parent’s home
• With whom the student lived
• Who provided financial support
• How the student supported themselves
• Why parental information cannot reasonably be obtained

Third-Party Documentation

Students should provide documentation or a letter from an unbiased third party who can verify the circumstances whenever possible.

Examples may include a letter from a:

• Doctor or healthcare professional
• Pastor or clergy member
• Teacher
• Employer
• High school guidance counselor
• Attorney
• Police officer
• Other qualified professional familiar with the student’s circumstances

Third-party letters should include the person’s:

• Name
• Professional relationship to the student
• Telephone number
• Explanation of how they know the student and the circumstances
• Signature

Additional Supporting Documentation

Depending on the circumstances, students may also provide:

• Court-appointed guardianship documentation
• Death certificate or obituary
• Armed Forces documentation
• Divorce decree
• Court order
• Lease agreement
• Utility statements
• Legal documentation
• Other documentation supporting the student’s circumstances

The Financial Aid Office may request additional documentation when necessary to complete the review.

Deadlines & Processing Times

Submit Before the Start of the Term

Students are strongly encouraged to submit Special Circumstance and Dependency Status appeals before the start of the academic term whenever possible.

Early submission allows sufficient time for the Financial Aid Office to:

• Review the request
• Verify the information provided
• Request additional documentation, if necessary
• Complete the professional judgment review
• Notify the student of the decision
• Allow the student time to secure payment arrangements

Required Submission Deadline

A completed appeal should be submitted no later than three (3) weeks before the end of the academic term.

This deadline is intended to provide the Financial Aid Office with adequate time to review and process the request.

Appeals submitted fewer than three weeks before the end of the academic term may not be processed.

Students should not wait until the final weeks of a term to submit an appeal.

Recommended Timeline

• Before the start of the term: Recommended submission period. Students should submit their appeal during this period whenever possible so they have time to receive a determination and secure payment arrangements.
• During the term: Submit the appeal as soon as the qualifying circumstance occurs and all required documentation is available.
• At least 3 weeks before the end of the term: Final recommended submission deadline. The appeal should be complete and include all required documentation.
• Fewer than 3 weeks before the end of the term: Late submission. The appeal may not be processed.

Processing Time

The submission deadline and processing time are two different requirements.

The three-week deadline refers to when a student should submit a completed appeal before the end of the academic term.

Once submitted, the Financial Aid Office may need additional time to review the appeal. Processing time may vary depending on:

• The type of appeal
• The circumstances presented
• Whether the documentation is complete
• Whether additional documentation is required
• The time of year
• Committee review requirements, when applicable

For Special Circumstance appeals, the Rust College 2026–2027 form indicates that students should allow at least three weeks for a response. Appeals submitted during January through August may require approximately 4–6 weeks for committee review.

Because processing may take several weeks, students are strongly encouraged to submit their appeal before the beginning of the term.

Plan Ahead: Submit your complete appeal before the start of the term whenever possible. Do not wait until the final three weeks of the term to submit your request.

Payment Responsibility

Submitting a Special Circumstance or Dependency Status appeal does not automatically extend or waive a student’s tuition and fee payment deadline.

Students remain responsible for meeting applicable Student Accounts/Billing deadlines while their appeal is being reviewed.

Students are encouraged to submit their appeal before the beginning of the term so they have time to receive a decision and secure appropriate payment arrangements.

Late submission may result in the appeal not being processed before the end of the term and may affect the student’s ability to receive an adjustment in time to secure payment arrangements.

How to Submit Your Request

Rust College Office of Financial Aid
150 Rust Avenue
McCoy Administration Building
Holly Springs, MS 38635

Phone: 662-252-8000
Email: financialaid@rustcollege.edu

Students should use the submission instructions provided on the applicable form and follow any additional instructions provided by the Office of Financial Aid.

Students should retain a copy of the completed form and all supporting documentation submitted.

Policy

Special Circumstance / Professional Judgment Policy- Coming Soon

Student Checklist

Before submitting your appeal, make sure you have:

• Selected the correct form
• Completed every applicable section
• Provided a detailed explanation of your circumstances
• Attached all required supporting documentation
• Provided any required third-party documentation
• Signed the form using the required signature method
• Reviewed the form for accuracy
• Kept a copy of everything submitted
• Submitted the appeal before the start of the term whenever possible
• Submitted the appeal at least three weeks before the end of the term
• Continued to monitor your Rust College email
• Continued to meet applicable student account and payment deadlines

Questions?

If you are unsure whether your circumstances qualify for a Special Circumstance Appeal or Dependency Status Review, or if you need assistance identifying the required documentation, contact the Rust College Office of Financial Aid.

Phone: 662-252-8000
Email: financialaid@rustcollege.edu

Remember: Submit early. Completing your appeal before the start of the term gives the Financial Aid Office time to review your request and gives you time to secure payment arrangements.