Applying and Completing Financial Aid at ABC
- Request a FSA ID for a Parent and the student
- Complete the 2015-16 or 2016-17 FAFSA online
- Print the Confirmation page when submitted.
- Go online and Request a FSA ID.
- Go to the FAFSA website and apply for financial aid. Print the confirmation page at the end.
- For the Spring 2016 Summer 2016, students will need to complete the 2015/16 FAFSA. For the Fall 2016 and Spring 2017, students will need to complete the 2016/17 FAFSA. Make sure student and/or parents taxes are linked using the IRS retrieval tool when completing the application.
- Once completed, you will receive notification by mail and/or email from the Department of Education confirming your application has been received, processed, and notifying you if you are selected for verification. If selected, additional forms and processes are necessary to process your funds. Please see Financial Aid for assistance.
Arkansas Baptist College offers Federal Direct Loans for independent and dependent students as well as Parent Plus loans for parents who apply at Federal Student Aid and are approved based on credit should notify the Financial Aid Office immediately. If not approved, dependent students are eligible for $4000 in additional unsubsidized loans, and must notify Financial Aid. If you are interested in receiving a student loan at ABC, you will need to complete the following requirements. Your FSA ID is required to complete this process.
- Direct Loan Entrance Counseling
- Master Promissory Note (MPN)
- Complete Parent Plus Loan application
- Submit Parent Plus Loan Application
- If denied, dependent students are eligible for an additional $4000 per year in unsubsidized student loans. If approved, Parent MUST complete a Master Promissory Note (MPN)
Go to www.studentloans.gov and click “Sign In”
- Enter your personal information and Request a FSA ID.
- Read all information carefully and follow directions. Answer all questions on each tab.
- Click “Complete Entrance Counseling” and follow instructions carefully to complete.
- Click “Complete Master Promissory Note” and follow instructions carefully to complete.
- 24-48 hours later, verify status of the MPN and Entrance Counseling. Sign in, and then, look at the menu on the left. Click the “View Previously Completed Counseling” link at the bottom of menu and the “Completed MPN’s” link at the top of the menu to verify the time and date the government documented the submission of each.
This step is a follow up for students to confirm that they have met the requirements to receive direct loans.
- For Parent Plus Loans– please notify the FA office that your parent was approved or denied in order to process a new loan or additional unsubsidized loan funds.
Parent PLUS Loan Application Process
The Parent PLUS loan application process can vary from school to school. ABC requires the student to complete a FAFSA online and apply online at www.studentloans.gov for the Plus loan and notify the school of the results. You can notify us by fax, phone or email. Email the Financial Aid office at firstname.lastname@example.org.
- The student must first submit the Free Application for Federal Student Aid (FAFSA) in order to apply for the PLUS loan. It’s always a good idea to submit the FAFSA anyway, as your child may be eligible for other grants or federal student loans. Note that in situations of divorce, either parent (or both) may apply for the PLUS loan. It does not have to be the parent who completed the FAFSA.
- Request the Loan Application for a Parent Plus loan through www.studentloans.gov. After signing in as the parent, select the “Request a PLUS Loan” option and follow the instructions. If parent is denied, an additional $4000 for the academic year in unsubsidized loan funds is available to dependent students. If approved, parent MUST complete a MPN, and notify the school of the approved pending loan.
- Sign the Master Promissory Note (MPN) The same parent who completes the PLUS Loan Request must sign the MPN before aid can be disbursed. The MPN is also available at www.studentLoans.gov. Note that an MPN is good for 10 years, so you may only need to sign this on the first application. However, each subsequent PLUS loan will initiate a new credit check. In the case where two different parents would like to apply for PLUS loans, each must complete this application process separately. If requesting funds in the same year for the same student, the total combined amount may not exceed the student’s Cost of Attendance.
See more at ParentPlusLoan.com