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2007-2008 FAFSA Deadlines and Information General Application Information How and when does a student apply for financial aid?Beginning in January, the Free Application for Federal Student Aid (FAFSA) is available from high school guidance counselors and on the internet. The FAFSA should be completed only after you and your parents have each completed the federal income tax returns for the prior year because those figures are needed to answer items on the form. Retain a copy of both the parents’ and student’s tax returns for future reference. Submit the completed FAFSA to the processor after January 1, but no later than March 1, in order to be considered "on time" for Montclair State evaluation. The FAFSA is used to determine eligibility for all federal and state programs, which include student loans. The Institution Code for Montclair State University is 002617. The FAFSA can be filed electronically via the World Wide Web: http://www.fafsa.ed.gov. In order to complete the FAFSA online you will need a U.S. Department of Education Personal Identification Number (PIN). If you do not already have a PIN apply for one now. Parents of dependent students may apply for a PIN also. With your PIN, you and your parents can electronically sign the Free Application for Federal Student Aid (FAFSA). First consideration for campus-based financial aid programs (i.e. Federal Perkins Loan, Federal Supplemental Educational Opportunity Grants (FSEOG), and Federal Work-Study (FWS)) will be given to students whose forms are received and processed on or before March 1. Filing by that date will also assure you of award notification in time for fall billing. What happens after I file a FAFSA? About one month after filing, you will receive the following documents: Student Aid Report (SAR) for federal programs, and Student Eligibility Notice (SEN) for New Jersey Programs. Follow all instructions on these documents. Verify that Montclair State is listed on the SAR as an institution that will receive your information. MSU will access this data electronically to prepare your aid package. When will I hear if I am eligible to receive financial aid? If you are eligible to receive financial aid and all of your documents have been received, you will receive notification of these awards from the Office of Student Financial Aid during late spring or early summer. Late filers are notified on a rolling basis. If you are not eligible for need-based financial aid, you may request consideration for an Unsubsidized Stafford Loan or a PLUS Loan. Loan Information What opportunities are there for work on campus? Two employment programs exist for students: Federal Work-Study (FWS)—this is a federally supported employment program. Students must meet need requirements. The rate of pay is $6.25 to $8.25 per hour. Students normally work 10-15 hours per week while school is in session. Job opportunities are posted in the Career Development Office. Student Assistants (SA)—this is a University employment program. Financial need is not a requirement for participation. The rate of pay is $6.25 to $8.25 per hour. Students normally work 10-15 hours per week while school is in session. Job opportunities are posted in the Career Development Office. How may financial aid be used to help pay my bill?When you are billed for the fall or spring semester, read the instructions concerning financial aid recipients and follow them concerning payment. Every effort is made to credit term bills with all accepted and approved financial aid except anticipated FWS earnings. The staff members of the Office of Student Financial Aid are available throughout the year to assist parents and students. Call for information if you need assistance with any forms or procedures. |
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