If
you or your student is thinking about attending graduate school next year, now is the time to file the 2007-08 Free Application
for Federal Student Aid (FAFSA). The on-line application can be found
at www.fafsa.ed.gov. Many
graduate programs at PLU begin with summer term, so the student’s need
for a financial aid award requires an earlier time frame. Contact your
graduate program to determine their program’s start date and if there
are any additional applications needed for either admission or
financial aid.
Most graduate students are only eligible for student loans and work study programs. A new Graduate PLUS loan program
was created by the federal government in 2006-07 that now makes it
possible for graduate students to avoid borrowing the more expensive
private loans. This Graduate PLUS loan is fashioned after the Parent
PLUS loan, except applicants must file the FAFSA and must accept the
less expensive Stafford Loan before turning to the Grad PLUS loan.
Unlike the Parent PLUS loan, most lenders will automatically put loan
payments into forbearance while the student is in graduate school. PLU
will automatically award the student’s maximum eligibility in the Grad
PLUS loan when putting together a financial aid package.
If you have any questions about the financial aid application process
for graduate school, please feel free to contact the PLU Financial Aid
Office for assistance (email / website).
If you are considering a graduate school other than PLU, your best
source of information will be the financial aid office at that
university.
The following outline explains the process of applying for financial aid for enrollment at PLU.
Apply
to the university or graduate program. Get your application in early;
you will not be processed for financial aid until your admittance to
the university can be confirmed.
Obtain a Personal Identification Number (PIN) at www.pin.ed.gov. This PIN will be used to file your FASFA application.
File the FAFSA at www.fafsa.ed.gov and enter school code 003785. Submit the FAFSA by January 31 to ensure optimal financial aid awarding.
Upon
receiving your FAFSA results and verifying your acceptance to the
university, the Financial Aid Office will send you a financial aid
award and a guide for accepting your offer. Watch your mail for this
statement and respond to any additional requests.
If offered, and accepting Stafford Loan(s), do an electronic loan
application, and if necessary, an entrance interview. Select your
lender from our Preferred Lender list.
