Home > Prospective Students > Financial Aid > How to Apply for Financial Aid – 1

Financial Aid

How to Apply for Financial Aid – PART I

(Parental information is not required.)

If you are applying for a Federal Subsidized Stafford Loan, Federal Unsubsidized Stafford Loan or a Graduate PLUS Loan ONLY.

The Federal Subsidized Stafford Loan is need-based. To be eligible, the student contribution to education must be determined using a federally approved need analysis system. This student contribution is known as the expected family contribution (EFC) and is calculated using information provided by you and your spouse (if married) on the Free Application for Federal Student Aid (FAFSA). The EFC and any outside scholarships and loans you receive are then subtracted from the School's Standard Budget. The difference, up to $8,500, is your Federal Subsidized Stafford Loan eligibility.

The Federal Unsubsidized Stafford Loan is not need-based. Your eligibility for this loan (up to $40,500 per year) is determined according to the formula: School's Standard Budget minus Other Financial Aid equals Eligibility. These loans can be used to meet need in excess of the Federal Subsidized Stafford Loan or to replace the EFC. Federal Subsidized Stafford Loan eligibility is determined first.

CHECKLIST

__ FAFSA FORM

FAFSA forms are completed on the web at www.fafsa.ed.gov. Note that all graduate and professional students are considered independent of their parents for Stafford Loan eligibility. Therefore, it is not necessary for students applying for Stafford Loans only to provide parental information. Fill out the FAFSA based on your completed 2007 tax return.

Be sure the School's name and institution code are correctly entered in Step 6 of the FAFSA: G09897 University of Connecticut School of Medicine; G11215 University of Connecticut School of Dental Medicine. This entry must be correct to be sure your information is received by the appropriate school. There is no fee.

__ UCONN APPLICATION

Complete Part I (PDF) of the UConn Application and return it to the Financial Aid Office. Use the guidelines at the end of this document to determine whose financial information must be included.

__ TAX RETURN

Submit a signed copy of all pages, including schedules, of the 2007 Federal Income Tax Return, and a copy of all W-2 forms, for yourself and your spouse (if applicable), to the Financial Aid Office. There must be original taxpayer signatures on the photocopied tax returns. A photocopy of a signature is not acceptable. If you or your parents will not file a 2007 return, fill out a Non-Filer Form (PDF) from the Financial Aid Office.

__ STUDENT AID REPORT (SAR)

You will receive a Student Aid Report (SAR) from the Federal processor as acknowledgment of their receipt and processing of your FAFSA. Read it to be sure it is accurate. Follow the directions to make corrections, if necessary.

__ ENTRANCE COUNSELING

Entering students and first-time borrowers who are continuing students are required to have a loan counseling session. A web site for entrance counseling will be provided in your award letter. If you have additional questions about financial aid, you may make an appointment with the financial aid office at your convenience.

__ AWARD LETTER – MASTER PROMISSORY NOTE

You will receive an award letter stating your eligibility for the Stafford Loans and any other financial aid. Sign, date, indicate your acceptance or declination of each part of the award and return the form to the Financial Aid Office. Entering students must also fill out and sign a Master Promissory Note online through Sallie Mae’s OpenNet. Instructions will be provided in your award packet. No aid will be disbursed until these forms have been returned.

__ DEBT MANAGEMENT

Students may go on-line to check their federal loan history at any time at www.nslds.ed.gov. This website is sponsored by the U.S. Department of Education and is a clearinghouse of all your loan data. It will give you up-to-date information on all your federal loans and who currently holds those loans. This information is invaluable during the loan consolidation process.

__ DISBURSEMENT

Aid is disbursed in two installments – September and January (first and second year students) or July and January (third and fourth year students). Aid is not disbursed to students with incomplete financial aid files. Most lenders send funds by EFT. These funds go directly into your student account to pay your tuition/fees. Once tuition is met, the balance is refunded by check to the student.

__ APPEALS

You may appeal your financial aid award. All requests for review must be in writing and accompanied by appropriate documentation. (See the Director).

__ EMERGENCIES

Students encountering financial difficulties and/or emergencies are encouraged to talk to the Director.

The School will not read your financial aid file or certify your loan until we have received all required information and completed forms. If you are using financial aid to pay your fee bill, and you are a continuing student, you must meet these important financial aid deadlines to avoid late fees:

April 15, 2008 Deadline: Renewal FAFSA or FAFSA must be submitted to Federal Student Aid Programs, this can be done on-line at www.fafsa.ed.gov. University applications, Part I and II (as applicable), Federal 2006 Tax Returns, W-2 Statements, Non-Tax Filer Statements (Student/Spouse and/or Parent) and any letters of special circumstances are due in the Financial Aid Office as a complete packet by April 15, 2008.

The above deadline does not apply to entering students. They should apply upon notification of their acceptance by the School. No late fees will be imposed if forms are filed within a reasonable amount of time after notification of acceptance.