I Applied for Financial Aid, What's Next?
Watch for FAFSA Results
Don’t just assume that everything is okay. If you have not received a Student Aid Report (SAR) from the Federal Processor within 3 weeks, you need to call the Federal Processor at 1-800-433-3243.
Review Your Student Aid Report (SAR)
Don’t just open the SAR and lay it aside! Read it carefully for any missing or incorrect information. Make online corrections or correct the paper SAR, affix the required signatures and send the SAR to the SAGU Financial Aid Office or the Federal Processor for re-processing. If the SAR is correct, you may keep it for your records.
Respond to All Requests for Additional Documents and Information
Examples of things you might be asked to supply are you and your parents’ federal income tax returns and verification worksheets. Other types of documentation that may be required are proof of registration with Selective Service, documentation to clear up discrepancies with your name and social security number, proof of citizenship or Permanent Resident Alien status. No aid offer can be made until your file is complete and correct.
Be Sure You Get Your Mail
If you are not at your home address during the summer (away on some exotic vacation or an overseas missions trip) be sure someone sends you your mail. Better yet, apply for Financial Aid early so that you get your award notification before you go away for the summer.
Watch for an Official Financial Aid Award Letter
Once your file is complete and correct, and you have been accepted for admission, the Financial Aid Office will prepare an Offer of Financial Aid. This document shows grants, scholarships, loans and work-study offered. This will be mailed to you. Review the Award Letter and the brochure titled “Your Financial Aid Officer.” Total all financial aid you wish to accept and compare your offer to the base cost of SAGU to determine what portion of your school bill will be covered.
Accept your Student Loans (if you desire a student loan)
Complete a new Master Promissory Note (MPN): You will need to sign a new MPN with the federal government if you plan to borrow a loan for the 2010-2011 school year. To sign your new MPN for the Direct Loan program, please visit www.studentloans.gov as soon as possible. You will need the same PIN you used to complete your FAFSA to login to this website. Once you login, click on the link on the left hand side that says “Complete MPN.”
Complete Entrance Counseling if you are a first time borrower: If you are a first time borrower and have never received a student loan, then you will be required to complete loan Entrance Counseling. You can complete your Entrance Counseling online at www.studentloans.gov.
Accept your student loans in your eCAMS Student Portal (only if you wish to receive loans): Once your FAFSA results are processed, you will receive an Award Letter that details the financial aid that you are eligible to receive. If you wish to receive student loans, then you are required to officially accept them. After you login to your eCAMS Student Portal, click on the link that says “My Financial Aid” to accept or deny your student loans. If you wish to receive a loan but for a different amount that you have been awarded, please contact the Financial Aid Office.
