Montana University System

For instance in 2007, MHESAC forgave up to $500 of its borrowers' balance on their loans.

This type of benefit is no longer available with federal student loans. Students with FFELP and Direct loans may use Direct loan consolidation. Students seeking private loans should check for college loans offered by credit union lenders, as well as bank loans.

Montana participates in federal student loan forgiveness programs for jobs in:

• Education (Federal Teacher Loan Forgiveness Program)
• Health Care (Federal Health Care Worker Loan Forgiveness Programs)
• Public Service (Public Service Loan Forgiveness Program)

The state also has its own teacher student loan forgiveness program:

The Quality Educator Loan Assistance Program

• for K-12 Montana educators teaching in an impacted school or impacted academic area
• amount is $3,000 per year for up to four years

Montana Scholarships and Grants for College

The MUS Honor Scholarships are worth $4,000 per year (as tuition waivers) at eligible Montana colleges. There are 200 scholarships awarded statewide and they are renewable to total eight consecutive semesters.Requirements:

• at least a 3.4 GPA through 7 semesters and meet the rigorous core requirements
• completed three full-time years at a Montana high school
• accepted to a Montana university system school
• U.S. citizen

For students who have not been awarded a MUS Honor Scholarship, Montana has another scholarship program, the Governor’s "Best and Brightest" Scholarship. There are three different categories: high school merit, merit at-large,and need-based. Each scholarship is worth $1,000 per semester (renewable).Requirements:

• for merit: 3.0 GPA or 20 ACT or 1440 SAT (reading & math)
• for need-based- a FAFSA EFC lower than CoA
• students must be seeking their first post-secondary degree
• Montana resident

The Montana University System has the 2 + 2 Honor Scholarship for associate degree graduates with a cumulative GPA of 3.4 or better. These graduates will have their tuition waived at a 4 year Montana university.

Grants

The Montana Tuition Assistance Program (MTAP) or Baker grants as they are sometimes called, are $2 million of free grant money given to 2,400 students annually. They are designed to compensate students whose Pell grants are lower because of income earned by the students, themselves. (The EFC formulas weigh students' income more heavily when determining need.)Requirements:

• student income of $3,625 or more
• an EFC of less than 8,050
• Montana resident
• full-time (12+ credits) student

The Montana Higher Education Grant (MHEG) has limited funds of around $600,000 per year. Awards go to the students with the greatest financial need as determined by the FAFSA. When the allocated money is used up, awards are no longer given, so make sure to check your FAFSA deadline and apply early.

Check for more Montana college grants and scholarships that you can apply for.