| The Financial Aid Application Process |
1. Complete and File the Free Application for Federal Student Aid (FAFSA)This form may be completed at http://www.fafsa.ed.gov. SIOM’s federal school code is 3280300. 2. First-Time Direct Loan Borrowers Must Complete Direct Loan Entrance CounselingIf you have not previously received a student loan through the Direct Loan programs at SIOM, you must complete Direct Loan Entrance Counseling before you can receive a Direct Loan. A copy of your entrance counseling confirmation should be included with your financial aid request form. You may complete Direct Loan Entrance Counseling electronically via the StudentLoans.gov Web site at https://studentloans.gov. A Federal Student Aid PIN is required to complete online Direct Loan Entrance Counseling. 3. First-Time Direct Loan Borrowers Must Complete a Direct Loan MPN
If you have not previously received a Direct Loan, you must complete a Direct Loan Master Promissory Note (MPN) for the subsidized and unsubsidized loans and an additional one for a PLUS loan. Although you may have previously signed an MPN to receive FFEL Program loans, a FFEL MPN cannot be used to make Direct Loans. You must complete the MPN for subsidized and unsubsidized loans and an additional MPN if you are applying for a PLUS loan.The MPN is the legal document through which you promise to repay your Direct Loans and any accrued interest and fees to the Department. It also explains the terms and conditions of your loans. A Direct Loan MPN can be used to make loans for up to ten (10) years. You may complete a Direct Loan MPN electronically via the StudentLoans.gov Web site at https://studentloans.gov. You also have the option of completing a paper Direct Loan MPN. To complete a Direct Loan MPN electronically, you must have a Federal Student Aid PIN. The Federal Student Aid PIN is the same PIN used to complete the Free Application for Federal Student Aid (FAFSA). To apply for a PIN if you do not already have one, or for customer service regarding a previously assigned PIN, visit www.PIN.ed.gov. 4. If Applying for a PLUS Loan, Complete the Direct PLUS Loan Application and PLUS MPN
If you are requesting a Direct PLUS Loan, each year, you must complete the Direct Loan PLUS application for PLUS loans at https://studentloans.gov. You must also complete a separate Direct Loan Master Promissory Note (MPN) for your PLUS loan if one is not already on file. A credit check will be performed during the application process. Please forward a copy of the credit decision to SIOM’s financial aid officer. 5. Submit a SIOM Financial Aid Request FormNew and continuing students should contact the Financial Aid Officer to request a copy of the school financial aid request form and information about deadlines.Financial Aid Application Checklist:___ FAFSA Completed ___ MPN for Subsidized and Unsubsidized Loans Completed Online (if this is your first-time applying for Direct Loans at SIOM)
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February 25, 2012 - February 26, 2012 |
March 17, 2012 - March 17, 2012 |
May 6, 2012 |
August 11, 2012 - August 11, 2012 |