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Financial Aid Home | Step-by-Step Process | FAQ | Glossary | Scholarships
- If you are applying for Financial Aid for the Spring Quarter of 2010, use the information below.
- If you are applying for Financial Aid for the 2010-2011 school year, click here for the information.
Financial Aid Process for 2009-2010
This is the step-by-step process by which all students -- both new and continuing -- can apply for financial aid.
NOTE:
If you are male between the ages of 18 and 25, you must have registered for the selective service in order to receive Financial Aid. Register for selective service online by going to the Selective Service System web page.
Veterans: Make sure to read the
Guide to Military and VA Education Benefits (PDF)
The Process
1. Request a PIN number. If the student is considered a dependent, parent should also request a PIN number . This can be done at www.pin.ed.gov . The pin number is the method used to electronically sign the FAFSA and loan applications. Save this PIN as it will be used each year.
2. Complete the 2009-2010 FAFSA (Free Application for Federal Student Aid) on-line at www.fafsa.ed.gov. Have your (and parent's if dependent) 2008 Federal taxes and W-2's in front of you (Dunwoody's school code is 004641). Although not required, it is encouraged that all students apply for financial aid. This is the process the government uses to award state and federal grants, and calculates what loans are available to students. Eligibility for most scholarships is identified through completing the student's FAFSA as well.
3. Verification Process. All students are required to complete the following documents and turn in copies of the listed paperwork:
- Verification worksheet (PDF)
- MN State Grant Questionnaire (PDF)
- Submit signed copies of 2008 Federal tax returns (1040's) and W-2's for student and parent (if applicable)
- Submit academic transcripts for all previously attended colleges
- The Consent to Release Education Records form (PDF) is required for students who would like anyone other than themselves to have access to their student information. According to FERPA laws, Dunwoody cannot discuss specifics with parents, spouses or anyone without this form.
4. Unforeseen Requirements: Once the FAFSA is processed, the school will receive a Student Aid Report (SAR). Occasionally the Department of Education identifies additional information needed in order to complete the process. Examples may include a birth certificate, social security card, or citizenship documents. If required, the student will be notified via mail. Here are some of the forms the student may be required to complete:
5. Corrections: Once all required items have been received, it is verified for accuracy. If corrections are necessary, they can be made by your Financial Aid Coordinator. This will result in a revised SAR showing what fields were corrected.
6. Acceptance Process: At this point the student's enrollment process needs to be finalized to go any further. If accepted to the college, the Financial Aid Coordinator is ready to send an award letter to the student.
7. Award Letter: The student will receive two copies of their award letter, one to keep, the other to sign and return indicating what loans they want to borrow. There will also be a pamphlet that explains the cost of school for the year and cost of attendance (including room & board allowance). The pamphlet includes information on the loans being offered and directions for how to apply for them. The total financial aid offered cannot exceed the cost of attendance. Read carefully and decide what loans are needed to cover the cost for the year.
8. Entrance Counseling: It is a requirement for all first-time loan borrowers at Dunwoody to complete entrance counseling. Once completed, the Financial Aid Department will receive confirmation the following day. The directions are also in the pamphlet that came with the award letter.
- Go to www.mappingyourfuture.org
- On the left side click on “Complete on line student loan counseling”
- Click on “Stafford Entrance” and complete the questionnaire
- Once finished, enter contact information and submit
9. Apply for Loans: Carefully follow the directions to apply for all desired loans. The directions are also in the pamphlet received with the student's award letter. Some loans may require a co-signer. Remember to use the PIN number to sign the application, if you print and sign, this will delay the loan arrival.
- To apply for Stafford loans, click on “Fast Loans On-Line”
- Read down to “Processing your Loan” then click on your lender choice
- This will take you through the terms of the loan (MPN)
- To apply for a Self loan, go to www.selfloan.org and follow the directions on the Website
- This loan requires a co-signer.
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To apply for a Plus loan, go to “Apply for Parent (Plus) Loan” (Dependent students only)
- Click on “Start your MPN” and complete the application
- Choose a lender
- If your parents receive this loan, they must fill out a Parent Plus Loan Release form (PDF)
- If a parent is denied for this loan, you will be eligible for additional Unsubsidized Stafford dollars
- To apply for an Alternative loan, visit one of the following websites
10. Disclosure Statement: Typically about one week after applying for loan(s), the student will receive a letter from the lender. This is a loan disclosure statement. It confirms loan approval, the dates of disbursement and origination fee. Save this letter to review when your tuition statement comes.
11. The Tuition Statement: The tuition statement will arrive approximately seven days before each quarter start and shows all charges and all credits that have been applied including their source. If there is a remaining balance, this form gives the student an opportunity to make their final payment. A student schedule is included with the tuition statement in this mailing.
12. Bookstore: Books are an out of pocket expense and students are expected to purchase books on their own. If the student is unable to pay out of pocket and loans are in place that will result in a credit (overpayment) on your account, you may request to charge against your credit for books. Students are only allowed to charge books the first three days of the quarter and it must be pre-arranged with the financial aid office.
13. Refunds: Any sources of financial aid applied to the student's account that result in a credit balance will prompt accounting to prepare a refund back to the student. Refund checks are prepared every Friday with the exception of the breaks when school is closed, and the first week of each quarters during the add/drop period in which many students change their schedule. If the student sees a refund on their account per IQWeb, Friday morning the student's 1 st instructor will give them a blue card that needs to be signed by the instructor then brought to the fee window along with a picture ID to receive your refund check.
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