New Undergraduate Students
Borrowing money for school is a serious, long-term, financial obligation. We want to insure that all borrowers learn how to handle their finances so that they are in a position to repay their loan debts after they leave Lasell College. The Department of Education mandates that all first time Federal Direct Student Loan and Federal Grad PLUS borrowers complete an "entrance counseling" session before receiving their first loan. Loan proceeds can not be credited to students' accounts until they fufill this requirement.
This tutorial will walk you through some of the major sections of the NEW online exit counseling program on the StudentLoans.gov website.
Federal Direct Stafford Loan / Grad PLUS Online Entrance Counseling
Through the StudentLoans.gov Entrance Counseling process, borrowers will learn about: Students who are borrowing for the first time under the Direct Stafford or "Grad PLUS" programs must complete a Master Promissory Note.
The first page will ask borrowers to identify themselves as either an undergraduate or graduate student. All graduate students will automatically also complete counseling for the GradPLUS Program
Borrowers will then review some basic information and "Helpful Hints" for completing the module.
You can choose up to three schools to receive results from your Entrance Counseling session.
Borrowers will then complete a training session on a series of topics. At the end of each topic, the borrower must complete several quiz questions.
You're DONE! Borrowers are able to print a confirmation page when they have completed the training modules. Once a borrower completes an Entrance Counseling session on the StudentLoans.gov website an "Entrance Counseling Acknowledgement" will be electronically sent to the schools listed in Step 4.
Students who are borrowing for the first timeunder either the Direct Stafford or Grad PLUS Programs must complete a Master Promissory Note as the final step in the application process.
Lasell College awards financial aid on a rolling basis beginning with with the merit aid offered to students at the time of admission, and continuing with the need based aid offered based on the information received from the Free Application for Federal Student Aid (FAFSA). Need based awards begin to be mailed in mid February and continue through to the beginning of the year. Here are the suggested dates by which you should complete certain items:
Beginning January 1: Free Application for Federal Student Aid is available to be completed. Make sure to include the Lasell College school code, 002158. Suggested deadline for completing this step is March 1.
Mid February: Award letters begin to be mailed on a rolling basis.
March through April 30: Complete your financial aid file by submitting all requested verification documents. You will receive a final award letter from us as a result of completing your file.
May 1: Make your deposit with the Office of Undergraduate Admission to hold your place in the class and housing. $200 for commuting students, $400 for resident students.
June: Make plans to attend Orientation. Complete any outstanding items for your financial aid file. Apply for loans if desired. See Loan Options page for more information.
July: Bills for the Fall semester are mailed usually the first week of July. They will be due during the first week of August.
August: Payment for the fall semester is due the first week of August.
September: Arrive on campus!
Below are links to resources you may find helpful in your application for aid.
www.finaid.org- includes interactive calculators, estimators, discussion groups, scholarship search links, and a listing of financial aid resources.
www.collegeboard.org- Information available from the College Board on SATs and other standardized tests, college costs, and scholarship information.
www.fastweb.com- provides free scholarship search with more than 400,000 scholarship sources.
www.heic.org- provides information on the college application process and financial aid from the Massachusetts Higher Education Information Center.
www.ed.gov- provides links to information on federal financial aid programs from the Department of Education.
www.fafsa.ed.gov- link to the online version of the Free Application for Federal Student Aid.
www.studentclearinghouse.org- provides real time information regarding loan borrowing history, where and how much a student has borrowed, and through what programs to assist students with debt management.
www.doe.mass.edu- link to the Massachusetts Department of Education
Creat a Federal Student Aid ID- your FSA ID is used for both the FAFSA and Federal Student Loan Applications
The FAFSA simplified:
7 Steps to completing the FAFSA: http://www.finaid.ucsb.edu/fafsasimplification/
IRS Data Retrieval tutorial: Need help understanding how to use the data retrieval process in the FAFSA? Watch this quick video to get pointers! http://www.finaid.ucsb.edu/media/videos/1516/english/irs-data-retrieval.htm
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