Planning for Year 1 through Graduation
After this session, you’ll have more confidence:
- Understanding costs
- Planning for non-loan resources
- Comparing loan options and borrowing strategically
- Preparing for the 2026-27 billing timeline
- Using campus resources and smart strategies to reduce total borrowing
Whether you’re a student or a parent, you’ll walk away with a step-by-step action plan for this fall and a framework you can use every year through graduation.
Disclaimer: The information in this Q&A reflects Mizzou tuition, fees, housing, dining, financial aid, and loan policies as they stand for the 2026-2027 academic year. Costs, deadlines, loan limits, and policies are reviewed and can change each year, so families reviewing this in future years should confirm current figures directly with the relevant office rather than relying on the amounts and dates listed here.
Frequently Asked Questions:
Loan Basics: Subsidized vs. Unsubsidized
Q: What is the difference between subsidized and unsubsidized loans?
A: The Subsidized loan is need-based and does not accrue interest while the student is in school. The Unsubsidized loan is not need-based and begins accruing interest as soon as it is borrowed. (See studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized for a full comparison.)
Q: Does interest accrue while enrolled?
A: For the Federal Direct Subsidized loan, no. For all other loan types (Unsubsidized, Parent PLUS, private), yes — interest accrues from disbursement (when the loan pays the student bill).
Q: What is the annual limit for subsidized loans?
A: A freshman can receive a total of $5,500 in Federal Direct Loans, of which no more than $3,500 can be Subsidized.
Q: What is the financial eligibility requirement to qualify for the Direct Subsidized student loan?
A: A student must have unmet need: Cost of Attendance (COA) − Student Aid Index (SAI) from the FAFSA − scholarships and grants = unmet need. Unmet need is what makes a student Subsidized-loan eligible.
Q: Is there a minimum number of course hours required for an unsubsidized loan?
A: Students must be enrolled at least half-time to receive a Federal Direct Subsidized or Unsubsidized Loan — 6 credit hours per semester for undergraduates. Please confirm any borderline enrollment situations with our office, as less than full-time enrollment may reduce the federal loan eligibility limit.
Q: How do I apply for the federal subsidized loan?
A: Complete the FAFSA. If eligible for a Sub loan, it will automatically appear on the student’s myZou financial aid screen as an option to accept.
Q: Can you start paying on the subsidized loan right away?
A: Yes. Students can begin making payments early. The student will receive information about their loan servicer and can work with them directly to start payments.
Q: If I take a student loan the first year, should I take it the next years too?
A: Not necessarily. Accepting a loan one year doesn’t oblige you to accept one in future years. We’d recommend reassessing need each year based on the aid package, scholarships, and family finances, and only borrowing what’s needed. Our office is happy to talk through the decision year by year.
Accepting, Declining, and Managing Federal Loans
Q: How do we accept the FAFSA loans we were offered for the year/semester?
A: Log in to myZou Student Center > Financial Aid > Accept/Decline Financial Aid (left navigation) > select the Aid Year > accept or decline awards. Call Student Financial Aid if you run into issues.
Q: Is there anything that needs to be done on the student or parent side after FAFSA has already been seen by the financial aid department?
A: Once the FAFSA is complete, we award all scholarships and grants the student is eligible for and package potential federal student loans. The student must actively choose to accept any loans they have been offered and can do so in their myZou financial aid portal. If a parent wants to apply for a Parent PLUS loan or the family wants a private loan, that also requires applications. If the student is a first-time borrower, they must also complete Entrance Counseling and sign a Master Promissory Note on their Federal Student Aid account (www.studentaid.gov).
Q: If I already accepted the FAFSA loan, can I change my mind and decide not to take it?
A: Yes, at any point during the semester. If it hasn’t disbursed yet, decline it in myZou the same way you accepted it. If it has already been paid to the student account, contact Student Financial Aid to have it reduced.
Q: What if there’s excess of a loan? Can it be returned to the lender, or does it all come back to us?
A: If total financial aid, including loans, exceeds charges, the excess is refunded to the student. You can choose to pay it back to the lender at that point. To reduce loans before disbursement, contact Student Financial Aid at least 11-12 days before the first day of classes.
Q: Does the loan go to Mizzou or the student first, and when are refunds estimated?
A: The loan is applied to the student’s account at Mizzou first; any resulting credit balance is then refunded, typically about 7 days after the aid disburses – The first refund is expected around the first day of classes.
Q: Are we able to edit/update our FAFSA form? What information can we change?
A: Yes. Most fields can be corrected after submission by logging into your account at studentaid.gov and submitting a correction (income, household size, school selections, etc.). A few items, like identity-verification information, may require additional steps. Reach out to Student Financial Aid if you’re unsure how to make a correction.
Q: When filing the FAFSA, should parents or students do it?
A: The student is the primary applicant and creates their own FSA ID to start and sign the FAFSA. The student then invites their parent(s) as a contributor, and each parent completes their own section using their own FSA ID to provide financial information.
Q: Do we have time to see what the cost will be after all scholarships are awarded before deciding how much of the FAFSA loans to accept?
A: Yes. Scholarships and grants will be visible as ‘anticipated financial aid’ on the TouchNet account when charges are posted in late July and you’ll be able to see an estimated outstanding balance. Offered loans remain available to accept (in full, in part, or not at all) on myZou until they’re needed for a given term. You don’t have to decide on loans before seeing the full scholarship picture.
Private Loans
Q: My daughter is 17 and applied for a federal loan but was denied because she’s under 18. She’ll turn 18 in August — will she be approved then?
A: Age typically isn’t a barrier for federal Direct Loans, so this was likely a private loan denial. Please call the Student Financial Aid office directly so we can help.
Q: If I’m paying Fall in full but anticipate needing a loan for Spring, is there a deadline to apply for a private loan by?
A: You may apply for a spring-only private loan throughout the spring semester. The first spring payment is due February 10th. Charges post to the account in mid-December, and the first spring bill generates around January 11th. Most private lenders process applications within a few weeks, so there’s no urgency to apply now if Fall is already covered. Applying once Spring costs and funding sources are clearer works fine.
Q: Should I wait to see if my student has received any scholarships before applying for a private loan?
A: Generally, yes. We recommend waiting until the financial aid package is finalized so you know actual remaining need before taking on a private loan. At this point in the financial aid cycle, most scholarships have been awarded and additional scholarships for this school year are unlikely. Most scholarships are awarded on an annual basis, and many applications for 2027-2028 open in August.
Q: I’m cosigned on loans for older siblings of this student. If credit score is fine but debt-to-income is higher than comfortable, do student loan lenders have more flexibility than other loan types when other cosigned student loans already exceed $150K? Are loans still likely to be approved?
A: This is lender- and underwriting-specific, so it isn’t something our office can predict. We’d recommend contacting the specific lender(s) you’re considering directly, and using the ELM Select loan comparison resources to shop terms.
Q: Can fraternity/sorority fees be included in loans?
A: Federal financial aid, including loans, is built around Mizzou’s official Cost of Attendance (COA), which includes tuition, fees, room/board, books, etc. Fraternity or sorority housing fees are considered room and board. However, fraternity and sorority dues typically are not considered in the COA. Fraternity and sorority fees are billed by the individual chapter and not the university. Refunded financial aid may be used to cover costs, but it is important to check for alignment of the refund schedule and chapter billing dates.
Billing, Due Dates, and Payment Plans
Q: The annual fees for kids starting this fall — is that locked for 4 years, meaning fees don’t increase?
A: No. Tuition and fees are set on a one-year basis and voted on annually by the Board of Curators for the following year.
Q: Have fees historically increased or remained the same?
A: Plan on slight increases, 3-4%, per year as a safe estimate, based on historical trends.
Q: When will we receive the bill (actual cost) for the fall semester?
A: You can see charges posted in TouchNet beginning July 23. The first bill generates August 11th and is due September 10th. Students and all TouchNet-authorized users receive an email when the bill is available online.
Q: How many payments are in the installment plan — 4 a year or 8?
A: 4 payments for Fall and 4 for Spring – 8 total for the year. The 4 Fall payments run monthly, roughly September through December.
Q: Do students need to create an authorized user in TouchNet?
A: Yes. The student sets up an authorized user in TouchNet so others (like parents) can view billing statements and make payments.
Q: Can I pay all of tuition for the year upfront?
A: No. You must wait until the bill is available for each semester to pay that semester’s tuition. Any overpayment in a term is refunded in that same term.
Q: Is there a special payment plan for parents with 2 kids in college at the same time?
A: Payment plan details are at cashiers.missouri.edu. In general, families should prepare for a 4-installment payment plan. Extended payment plans are generally not available for enrolled students. For specifics on your situation, contact Cashiers directly.
Q: Is there an extra fee for paying fall semester fees over the 4-payment plan?
A: Yes. A $50 enrollment fee applies each semester you set up a payment plan.
Q: Can you pay a semester in full, or do you have to pay in separate installments?
A: You can pay the semester in full. Just do so before the September 10th due date.
Q: What is the criteria to be eligible for the installment plan?
A: All students are eligible for a payment plan as long as there’s a balance on the account.
Q: Do you have to sign up for the installment payments, or is it automatically applied?
A: You need to set up the payment plan yourself by September 9th.
Q: If income dropped significantly between 2024 and 2025 and 2025 taxes aren’t done yet, what should we do?
A: Email MizzouSFA@missouri.edu explaining the situation so we can discuss a special circumstance process.
Q: Is it possible for a parent to get the first bill before August 11th, since 529 plans need 3–4 weeks’ notice before the first bill?
A: August 11th is the earliest the bill will generate, but you can print out Fall activity through TouchNet starting July 23rd.
Q: Where can I find the exact cost for my student alone?
A: The exact cost comes on the student’s bill from the Cashiers Office (first bills go out August 11th). Charges will be available to view in TouchNet beginning July 23, or you can estimate tuition and fees by major now using the tool at cashiers.missouri.edu.
Q: Do we need to pay the $50 fee each semester if paying over 8 payments for the year?
A: Yes. $50 to enroll in the payment plan for Fall and another $50 for Spring, $100 total for the year if using the plan both semesters.
Q: How close are the charges shown in TouchNet on July 23rd to the actual September bill?
A: They should be largely accurate but could change if the student changes majors or adds charges (parking, bookstore, etc.).
Q: The full-time cost showing for my student is $19,661.70. I assume this doesn’t include the university scholarship, correct?
A: That figure is a general cost estimate and typically doesn’t reflect individual aid. Beginning July 23, you will see an estimated outstanding balance after charges and anticipated scholarships/grants on your student’s TouchNet billing account.
Q: If a student’s automatic ACT/GPA scholarship is applied, is it reduced right away on the payment plan, or spread over the 8 payments?
A: Most scholarships are split evenly between the fall and spring semester. The installment payment is determined by the outstanding balance after that semester’s portion of the scholarships have been applied. The installment payment is ¼ of that balance. You can see the fall and spring portions of each scholarship on the financial aid package – available at any time in myZou.
TouchNet & Parent Access to Billing
Q: How do parents access billing information (TouchNet)? / How do parents get on TouchNet, and how does the student set that up?
A: The student grants parent access by adding the parent as an authorized user in their TouchNet account. Instructions are on the Cashiers website: cashiers.missouri.edu/billing-and-payments/paying-your-bill/.
Q: Do I log in as the authorized user with my own email, or the student’s info?
A: You’ll use your own email/credentials once your student has added you as an authorized user. See the setup instructions at the link above for the exact steps.
Housing & Dining
Q: How do we know what the cost of the dormitories is?
A: Housing rates are posted at housing.missouri.edu/26-27-housing-rates/.
Q: Where can we find the breakdown of meal plans?
A: All dining/meal plan options are at dining.missouri.edu/dining-plans/.
Q: Can we lower the meal plan as soon as the bill comes out, since a default plan is chosen automatically at orientation?
A: Yes. Plans can be changed at dining.missouri.edu/dining-plans/, and you have 5 weeks to make that change, entirely online.
Q: When does my student need to choose a meal plan?
A: 2026–2027 meal plan dates are at dining.missouri.edu/dining-plans/change-your-plan/.
Q: When do we select a meal plan for it to be reflected in the Fall bill?
A: If the student has signed a dorm contract, they’ll default into the Tiger Select Plan. More detail is on the Dining website’s plans overview page.
Q: Do most off-campus apartments require a full-year lease?
A: Yes, most do. More on off-campus living is at offcampus.missouri.edu/.
Scholarships
Q: If I received a scholarship check made out to both the student and MU, do we route it through Cashiers or Financial Aid?
A: The check should be mailed or brought to the Financial Aid Office at 11 Jesse Hall, Columbia, MO 65211. Be sure to include the student’s ID number.
Q: In a 5-year program, with a merit scholarship for 4 years, entering with sophomore-level credit — does the scholarship extend into the 5th/graduate year?
A: The scholarship covers up to 4 years, 8 semesters, or until the Bachelor’s degree is completed — whichever comes first. Renewal criteria are at financialaid.missouri.edu/scholarships/freshmen-ftc/.
Q: If scholarship money is left over at the end of freshman year, does it stay in the account for the following year?
A: No. Any credit balance is refunded to the student (check or direct deposit via TouchNet). Credit balances aren’t held on the account for future terms.
Q: If an out-of-state student gains Missouri residency, what happens to the Columns Award 1 scholarship — does it stay in place?
A: No. The Columns Award 1 would no longer be available once the nonresident fee is no longer being charged, and it is not replaced with an in-state award.
Q: Are you saying that if an out-of-state student becomes an in-state student, they’ll no longer be eligible for scholarships at all?
A: No. Most scholarships are not affected by a change in residency. Scholarships specifically tied to nonresident status (like Columns Award 1) end once a student is no longer paying the nonresident fee. Scholarships that aren’t residency-dependent are unaffected. Please check the terms of your student’s specific award(s) with our scholarship office if you’d like to confirm.
Q: For scholarships from the community, how do I get them added to my student’s account?
A: The check should be mailed or brought to the Financial Aid Office at 11 Jesse Hall, Columbia, MO 65211. Be sure to include the student’s ID number.
Q: I’ve applied for scholarships that are still open. When will I find out if I received them?
A: Notification timelines vary by scholarship. Most scholarships for 26-27 have been awarded. If the application is for 26-27, contact the scholarship agency for more information. If the scholarship is Mizzou-affiliated, contact Student Financial Aid for more information.
Q: When do scholarship applications open for next year?
A: The 27-28 scholarship cycle will start early in the fall semester. Students can access the Mizzou scholarship application portal at financialaid.missouri.edu/scholarships. External scholarship applications will also open during the fall semester.
Q: Will we get emails about scholarship dates for the upcoming year in the fall?
A: The Financial Aid office typically sends scholarship reminders to students directly. Upcoming deadlines are posted on the Student Financial Aid website.
Q: Who do we contact to inquire about scholarships?
A: The Student Financial Aid office. financialaid.missouri.edu/contact/
Q: I need to submit an official copy of my schedule for a few scholarships. What’s the best way to do this?
A: You can access a copy of your schedule in myZou.
Q: Have the incoming freshman automatic scholarships changed? I want to check if my student’s spring grades bumped them into a higher scholarship tier, but I can’t find the same chart from the initial application process.
A: Please contact Student Financial Aid to review your student’s specific eligibility.
Residency & In-State Tuition
Q: As a student living in an apartment this coming semester, how can an out-of-state student get in-state tuition? Do I need to live/work in the apartment for a certain number of months?
A: Requirements for gaining Missouri residency are outlined at registrar.missouri.edu/residency/. For specific questions, please reach out to the Registrar’s office directly.
Q: If a student is going through the residency process, do they file FAFSA next year as independent, or are parents still required to file too?
A: The residency process doesn’t make a student independent for FAFSA purposes. You’d continue to file as a dependent student with parental information. There are tax dependency requirements, however. Contact the Registrar’s Office for more information.
Q: How do you take the steps to get in-state tuition, and how are scholarships affected once a student goes from out-of-state to in-state?
A: Residency steps are at registrar.missouri.edu/residency/. Most scholarships are not affected by a change in residency. Scholarships specifically tied to nonresident status (like Columns Award 1) end once a student is no longer paying the nonresident fee. Scholarships that aren’t residency-dependent are unaffected.
Q: What happens to residency status if the parents move out of state after the student has already started at Mizzou?
A: The student’s residency status should not be impacted by a move after the student is enrolled. For confirmation given your specific circumstances, contact the Registrar’s Office: https://registrar.missouri.edu/.
Q: Does a student have to make a purchase every 3 days during the 12 months of claiming residency?
A: Requirements for gaining Missouri residency are outlined at registrar.missouri.edu/residency/. For specific questions, please reach out to the Registrar’s office directly.
Student Employment & Work-Study
Q: If Work-Study isn’t included in the financial aid package, can the student still work on campus? Where do they go for that information?
A: Yes. There are many job opportunities available for students without work study eligibility. The Career Center team can assist students to find on-campus opportunities.
Q: Is student employment open to all students regardless of financial need?
A: Yes — general on-campus employment is open to all students.
Q: Is it difficult to get on-campus jobs?
A: Mizzou employs over 6,000 students on campus each year. The Career Center staff can assist students with locating job opportunities. In addition, the Career Center hosts an on-campus job fair each semester.
Q: When/where is the job fair, and who is it for?
A: The job fair is open to everyone, not just work-study-eligible students. Details for the September 3, 2026 job fair are at the link above.
Q: Is work-study only available to need-based students?
A: Yes. Federal Work-Study specifically is awarded based on financial need shown on the FAFSA. General (non-work-study) campus employment, by contrast, is open to all students regardless of need.
Q: You mentioned work-study shows up on the estimate of attendance and aid — where exactly would that show?
A: Eligibility appears on the financial aid offer notification alongside grants and loans. You can see the financial aid offer in the financial aid portal in myZou.
Q: Do students need to have a FAFSA on file to work part-time on campus (my daughter applied for a job and was told they wouldn’t interview her until her FAFSA was on file)?
A: General campus jobs don’t require a FAFSA, only Federal Work-Study positions do. Confirm directly with the hiring department if the job was a Federal Work Study position.
Taxes
Q: If I don’t claim my student as a dependent next year on my taxes because they’re seeking residency, will I still be eligible for the American Opportunity Tax Credit?
A: The American Opportunity Tax Credit is claimed by whoever claims the student as a dependent, so not claiming them would mean you couldn’t claim the credit for that student. However, your student would be eligible to claim at least a portion of the credit if they have taxable income. Keep in mind that the AOTC credit is available for up to 4 tax years, and most students are enrolled across 5 tax years. This means that the disallowance due to dependency rules for gaining residency may not have an impact on your ability to maximize those 4 eligible tax years. Consult with a tax professional for specific guidance.
Veterans & Special Populations
Q: Does MU offer any financial aid for veterans or disabled veterans, and where can we find that information?
A: Yes. Mizzou has dedicated support for military-connected students, including GI Bill and VA education benefit certification. We’d recommend contacting Student Veterans Resource and Support Center for military-connected students for the most current benefit and application information.
Q: Who do we contact about Chapter 35 (Survivors’ and Dependents’ Educational Assistance) for military families? We’ve started the process and need to know who to contact to get it applied.
A: Please reach out to the Student Veterans Resource and Support Center for assistance.
Getting Started / General Guidance
Q: Does your office assist students moving into post-secondary programs (e.g., a Veterinary program) with the financial components as well?
A: Yes!
Q: My daughter hasn’t received any help from FAFSA and has no scholarships. I don’t know where to start to make sure she’s able to attend. Where should I start?
A: Please contact the Student Financial Aid or the Office for Financial Success for guidance.