Financial Aid Application Checklist
Students seeking financial aid are advised to contact the Financial Aid Office at the time of admission. To be considered for the federal Unsubsidized Direct Loan program or the federal Direct Graduate PLUS program, please follow the steps outlined below:
- Gather your financial records for the previous 2 tax years - copies of your tax returns, W-2s, bank statements, investment records, etc.
- Go to www.fafsa.ed.gov. This website provides information about the Free Application for Federal Student Aid (FAFSA) and an on-line FAFSA application. The FAFSA is a need analysis tool that is required if you'd like to be considered for any type of federal financial aid. If you have an FSA ID and password from federal financial aid you’ve received in the past, you may use those existing credentials with your new FAFSA.
- During the FAFSA application process you’ll be asked to create a Federal Student Aid (FSA) ID and password. Your FSA ID will give you access to the FAFSA and other financial aid information, including student loan information throughout the life of your loan(s). Your FSA ID is also considered an electronic signature. Signing your FAFSA electronically is the quickest, most efficient way to have your FAFSA processed.
- Once you’ve created your FSA ID and password, you’ll be directed back to www.fafsa.gov to complete the FAFSA. You may wish to print out a copy of your FAFSA information. Adler will receive an electronic version of your FAFSA results. Be sure to include our school code B08041 in step six.
- Watch your e-mail! Adler will send you a letter advising you of your eligibility for federal student loans. (As you may know, graduate students are not eligible for state or federal grants.) You decide how much, if any, student loan funds you'd like to accept. Sign the "Advice Of Loan Eligibility" and return it to us. We may also request additional information to clarify your FAFSA data and enrollment plans.
- We will notify you by phone or e-mail when your student loan funds are disbursed. This typically occurs approximately 2 weeks after the start of the session. All loan funds will be applied toward your tuition and fees; if your loan funds exceed the amount you owe for tuition and fees, we will issue a refund check to you within three business days. This refund can be used for living expenses and other educational costs. Please note that we will not extend a line of credit for the purchase of books based on expected financial aid funds - plan ahead to purchase your text books.
- If you have prior student loans that are currently in repayment, you may be eligible for an in-school deferment on those loans. Contact your student loan servicer for loan deferment information.
- All students who are expecting federal loans for the first time at Adler must complete a loan entrance interview. For your convenience, this requirement is fulfilled with an online counseling exercise. Go to http://www.studentloans.gov. Sign in using your FSA ID and password. Select "Complete Counseling” and follow the prompts for Entrance Counseling. AGS will be notified electronically when entrance counseling requirements are satisfied. Please note that you must complete this exercise even if you have completed it previously for another school.
- If you’d like to accept any federal student loan funds, you must also complete a Master Promissory Note (MPN). This is your legally binding contract to repay the loan funds that are extended to you. Go to http://www.studentloans.gov. Sign in using your FSA ID and password. Select "Complete Master Promissory Note” and follow the prompts. Be sure to select the Subsidized/ Unsubsidized direct loan. AGS will be notified electronically when the MPN has been successfully completed.
- We will notify you by phone or e-mail when your student loan funds are disbursed. All loan funds will be applied toward your tuition and fees; if your loan funds exceed the amount you owe for tuition and fees, we will issue a refund check to you within three business days. This refund can be used for living expenses and other educational costs.
- Note that we will not extend a line of credit for the purchase of books based on expected financial aid funds – plan ahead to purchase your text books.
- Please contact our office if you have any questions. Thank you!