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.

Most students use a method of stacking funding options to cover college expenses. Your financial aid team desires to assist you in preparing to attend Rust College. Federal financial aid, private and alternative student loans, along with UNCF scholarships, can help cover college expenses. If you’re looking to cover housing, textbooks, tuition, and other college-related expenses, consider these options:

1. 2024-2025 FAFSA Application
2. UNCF Scholarships Note: Please enter your specific details like GPA, State, Gender, Preferred College (Rust College) and select search which will identify the specific scholarships that you may be eligible for. The general application for the 2024-2025 academic year opened June 1, 2024.
3. Mississippi Aid Application Note: This opportunity is available for residents of Mississippi.
4. Education Loans & College Planning Resources | College Ave and The Sallie Mae Student Loan are Rust College students preferred lenders for private loan options but we encourage students to explore available resources. Note: This is an option for students that have previous balance from the past semester. When you apply, please use the dates that are included in the semester in which you accrued the balance.
5. Federal Plus Loan
   Note: In many cases, if the parent plus loan is denied, the Office of Financial Aid may be able to offer the student an additional unsubsidized loan in the student’s name. The parents must apply for this loan.
6. Accept Your Federal Loans Note: After accepting your loans in the My Bearcat Portal  you must complete the Entrance Counseling | Federal Student Aidand Completing a Master Promissory Note | Federal Student Aid.

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: Living in on-campus housing (resident student), off-campus housing (commuter student), or at home with parents or relatives (commuter student).
• Enrollment Level: Undergraduate Students enrolled in 12+ credits per semester (full-time), 11 or less credits per semester (part-time).

Refunds from excess Financial Aid sources are made in accordance with the Student Assistance-General Provisions, Regulations 168.21 of Title IV of the Higher Education Act of 1965, as amended.

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 via checks 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. The student can request the College to hold the credit balance on their student account by submitting the Authorization to Hold Excess Funds Form to the Financial Aid Office.

(Note: Students are encouraged to sign up for direct deposit with the cashier office)

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 PO 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 a credit on their account for future charges, but all credits will be refunded at the end of the award year. Students may choose to have the balance held on their student account for future charges provided the student submits the “Authorization to Hold Excess Funds” form to the Financial Aid Office.

**Institutional Scholarships cannot be refunded to the student.

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 them, refunded to the student, or held on the student’s account for future charges provided the parent submits the Authorization to Hold Excess Funds form to the Financial Aid Office. Checks will be mailed to the address on file. 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 soon as possible but no later than 14 days after the Business Office receives the notice. Regardless of any authorization provided by the student and/or parent, credit balances that resulted from a federal loan will be refunded to the student/parent at the end of the award year in which they were disbursed. 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 received them.

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.

Simplifying the financial aid application process

The FAFSA Simplification Act is an initiative by the United States Department of Education to make applying for federal student aid easier for students.

This process is the first major redesign of the Free Application for Federal Student Aid (FAFSA) process in over 40 years. The FAFSA Simplification Act was passed by Congress in 2021 and signed into law. The act required the Department of Education to make significant changes to the Free Application for Federal Student Aid (FAFSA) form, updated the calculation of financial need, and revised many of the policies and procedures for colleges and universities that participate in federal student aid programs.

Key Changes and How To Prepare

1. Spouses or stepparents may need to participate. Everyone must have their own FSA ID and password.
2. Federal Tax Information (FTI) will be transferred directly from the IRS into the form. Tax information for the 2024-2025 FAFSA will be for the 2022 year. Make sure that the 2022 federal tax return has been filed (by student and or parent if required to file).
3. Both students and parents/guardians who are required to file a US tax return must approve and consent for the IRS to provide tax information directly to the Department of Education through a direct data exchange with the online FAFSA application.
4. You can now select up to 20 schools to receive your FAFSA form.
5. With the streamlined FAFSA, questions regarding Selective Service and drug convictions will be removed.
6. The Student Aid Index (SAI) will replace the Expected Family Contribution (EFC). There is a minimum SAI of -1500, and the new FAFSA process implements separate eligibility determination criteria for Federal Pell Grants.
7. The revised FAFSA will have fewer questions, less requirements and will be easier to complete.
8. The FAFSA Simplification Act will expand the Federal Pell Grant to more students by linking eligibility to family size and federal poverty levels. The new need analysis formula removes the number of family members in college from the calculation, but this should not impact most students, as the new calculation will consider the entire makeup of the family as part of the index.

2024–25 FAFSA Timeline Updates

We will continue to update this webpage as we receive more information from the Department of Education. This webpage was last updated July 31, 2024.

2025–26 FAFSA® Form Now Open to All During Beta Testing

Access to the 2025–26 FAFSA form is open to everyone during the current beta testing period. You can submit your actual 2025–26 FAFSA form 2025–2026 today. Rust College’s school code is: 002433

Offer Letter Notification

When all required application information is submitted to the Financial Aid Office, the student’s file is reviewed and evaluated to determine eligibility for financial assistance. Students are notified of their financial aid offers by receiving an offer letter. This notice informs students of the type and amount of their award. Request for revision of financial aid offers will be processed after all other students have been notified of their financial eligibility.

Satisfactory Academic Progress for Student Financial Aid

In order for a student to receive federal or state student financial aid, regulations require that he/she maintain academic progress toward an Associate or Bachelor’s degree. The following are the satisfactory academic progress standards for students seeking financial aid at Rust College. The satisfactory academic progress policy must include a qualitative and quantitative measure of the student’s progress. The qualitative measure must establish a minimum grade point average (GPA). The quantitative measure must establish a maximum time frame in credit hours for a student to complete his/her program and a minimum number of credits a student must satisfactorily complete each year. Below is a description of the qualitative and quantitative requirements of the Rust College Satisfactory Academic Progress Standards.

Cumulative GPA Required

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.

2024 -2025 Aggregate Verification Worksheet

2024-2025 Bachelors Degree Verification Form

2024-2025 Cost of Attendance Adjustment Form

2024-2025 Custom Verification V4 Worksheet

2024-2025 Dependency Status Verification Form

2024-2025 Dependent Student UNSUB Loan Affirmation

2024-2025 Income Verification

2024-2025 Special Circumstance Request Form

2024-2025 UEH Appeal Form

2024-2025 Unusual Circumstances Form

2024-2025 Verification of Non-Filing

SAP- APPEAL Form

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.

2025-2026 Aggregate Verification V5 Worksheet

2025-2026 Bachelors Degree Verification Form

2025-2026 Custom Verification V4 Worksheet

2025-2026 Dependency Status Verification Form

2025-2026 Dependent Student UNSUB Loan Affirmation

2025-2026 Low Income Verification

2025-2026 Special Circumstance Request Form

2025-2026 UEH Appeal Form

2025-2026 Verification of Non-Filing

2025-2026 Standard Verification V1 Worksheet

Scholarships are a great way to help pay for college and are one of many ways that you can fund your education. Scholarships are awarded on the basis of academic merit, leadership/participation, and financial need or any combination of these items. For many students, earning a scholarship can be a fantastic way to finance that investment. At Rust College, we offer a wide range of scholarships to help meet the educational needs of a variety of students. During the review of your admission application to the college, your application is automatically selected to see if you meet the requirements for one or more of our scholarships. To view the eligibility requirements for each of the scholarships.

These scholarship opportunities are first-come first-serve therefore we recommend that you complete your admissions and financial aid requirements early in effort to increase your chances of being selected for these opportunities before the allocation of funds are exhausted. Rust College scholarships are not refundable.

Performance-Based Scholarships

Rust Choir and Band scholarships are available for the most promising and talented are awarded through our music department.

Additional Scholarship Opportunities Favored by Rust College Students

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 24-25 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 2024/2025 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.

William D. Ford Federal Direct Loan Program (Federal)

Loans made through this program are referred to as Direct Loans. Eligible students and parents borrow directly from the U.S. Department of Education at participating schools. Direct Loans include subsidized and unsubsidized Direct Stafford Loans (also known as Direct Subsidized Loans and Direct Unsubsidized Loans), Direct PLUS Loans, and Direct Consolidation Loans. You repay these loans directly to us. Students who demonstrate financial need may borrow up to $3,500 for the first year of enrollment, $4,500 for the sophomore year and $5,500 per academic year for the remaining undergraduate years. Repayment begins six months after the student graduates, withdraws, or drops below half-time.

Federal Direct Parental Loans for Undergraduate Students (FDPLU)

The PLUS Program is a non-need based loan that is available to parents who may borrow to help pay for their children’s education. Federal Direct Plus Loans enable parents with good credit histories to borrow money for each child who is enrolled in at least half-time (6 hours) and is a dependent student. The annual loan limit is the student’s cost of education minus any estimated financial aid received.

Step 1: Sign In – MyBearCat (rustcollege.edu)

Step 2: Select Self-Service under Rust College Quick Links.

Step 3: Select Financial Aid

Step 4: Select the Financial Aid option at the top and then select My Awards.

Step 5: Once you access your awards you will see a listing of grants, scholarships, and loans. Under the loan section you can accept, decline, or reduce the amount of each loan.

Step 6: Complete this process for each loan. If you are accepting a loan you will need to complete a Master Promissory Note and Loan Entrance Counseling. The links for these items are just below the loan acceptance section under Loan Requirements Checklist. Once you select the item from the checklist you will be directed to a Department of Education site. Please use your (the student’s) FAFSA ID and password to access the information.

Private Student Loans

This is an option for students that have previous balance from past semester. When you apply, please use the dates that are included in the semester in which you accrued the balance. Students getting an international education in the USA may be eligible to apply for a private loan if they have a creditworthy cosigner. Rust College students have preferred borrowing from the following lenders, but we encourage students to research the many options that are available:

The Sallie Mae Smart Option Student Loan

Student Loans with Flexible Repayment Options | College Ave

Requirements Checklist

Step 1: Login to MyBearcat Portal and accept your Federal Work-Study Award
Note: Student’s that complete the 2025-2026 FAFSA Application as soon as it opens are more likely to be awarded Federal Work-Study.

Step 2: Interview and get hired by an employer. 
Note: Your employer must submit your job description and class schedule to the financial aid office.

Step 3: Complete the 2025-2026 Federal Work-Study Info Sheet and Job Agreement 

Step 4: Provide a copy of your Photo ID and Social Security Card

Step 5: Sign the Statement of Privacy Adherence

• Download and print this PDF. Submit to the financial aid office with completed application. Student information is private. Sharing information you have access to in your work-study position will result in immediate termination of job position and could result in other actions!

Step 6: Complete the I-9 Form

Please reach out to the financial aid team at financialaid@rustcollege.edu with questions. We are here to support you.