While it may seem daunting, applying for federal financial aid is just a series of relatively simple tasks. Use this step-by-step approach to complete your application:
A Master Promissory Note (MPN) is the contract between you and your lender that states the terms and conditions under which you promise to repay the loan. Important: Keep this document until the loan has been repaid.
Complete a Direct Loan Program Master Promissory Note and click on "Sign Master Promissory Note." You will need your Department of Education PIN.
The U.S. Department of Education requires you to complete loan entrance counseling, which provides information about interest rates, repayment, and more. If you are borrowing Stafford and Graduate PLUS loans, online loan entrance counseling is available for both loans.
To receive federal financial aid, you must report any other source of tuition assistance, like financial assistance from your employer, external scholarships, or VA benefits. This information must be disclosed so that your financial aid award is accurate.
Your Certification Statement will help you understand your financial aid rights and responsibilities. This statement also authorizes your financial aid funds to be applied toward any outstanding balance at Capella with any remaining aid to be refunded directly to you.
Review your application carefully to make sure that all of the information is accurate and that you've completed all necessary steps before you submit the FAFSA. You cannot make changes after it is submitted.
If you are entitled to a financial aid refund, you can receive it faster by having it deposited directly into your checking or savings account. You will have to complete a form authorizing the direct deposit.