Apply for Aid

All federal grants, loans and federal work study programs are based on the information you provide on the Free Application for Federal Student Aid (FAFSA). The FAFSA can be completed online at studentaid.gov/h/apply-for-aid/fafsa .

In order to receive federal financial aid, you must complete the FAFSA and submit it for processing. You must apply for financial aid every year. If you have questions about the FAFSA, please contact the Office of Financial.

**NEW ON-LINE TUTORIALS**

• 7 Things You Will Need Before You Fill Out the 2023-2024 FAFSA Form
• Completing the 2023-24 FAFSA ONLINE 
• IRS Data Retrieval Tool Tutorial

FAFSA Online Seven Step Outline

1. Apply for FSA ID (Federal Student Aid ID at https://studentaid.gov . 
2. Collect all documents including, income tax transcript, W2 forms and other records of income. A complete list of what you need can be found at studentaid.gov/h/apply-for-aid/fafsa . If your tax return is not completed at the time you apply, estimate the tax information, apply and correct the information later.
3. Complete the FAFSA as early as possible after October 1, preferably by January, in order to meet school and state aid deadlines.  Apply online at studentaid.gov/h/apply-for-aid/fafsa. Farmingdale State College’s school code is 002858.  Our Preferred Filing Deadline is March 1st.
4. Once your FAFSA application is processed, you will receive a Student Aid Report (SAR) in approximately 3-5 days by mail or e-mail (if you provided an e-mail address). Review the SAR and make any changes or corrections and resubmit your SAR for reprocessing. Your complete correct SAR will contain your Expected Family Contribution (EFC). This is the number used to determine your Federal student aid eligibility.
5. If your SAR is selected for "verification" by the Department of Education, you will be asked to submit additional documents to the FSC Office of Financial Aid. Be sure to hand the information in as quickly as possible, as your application will be on hold until verification is completed.
6. Contact the Office of Financial Aid at 934-420-2578 with any questions. Review your award letter and make sure you accept or decline any awards and complete any required loan documents online.

 

Financial Aid Loan Processing

**ALL DIRECT LOAN BORROWERS MUST COMPLETE A NEW ELECTRONIC MASTER PROMISSORY NOTE and ENTRANCE COUNSELING**

Federal Direct Loan Borrower Instructions

1. You must begin by accepting the Federal Direct Loan via OASIS. Access Oasis
2. Next, borrowers must complete Entrance Counseling. Complete your Entrance Counseling.  "Select Your Student Status to Begin" Login in to start by using the same username and password that you used to sign the FAFSA. Then click on "Complete Entrance Counseling" to begin.
3. ALL students (including past Direct Loan borrowers) must complete a new Federal Direct Electronic Master Promissory Note (e-MPN).  Complete your e-MPN. " Choose the Direct Loan MPN you want to preview or complete" Login in to start by using the same username and password that you used to sign the FAFSA.  Then click on "Complete Master Promissory Note" to begin.

Please note: You must use Windows Explorer 7.0 or Firefox 3.6.3 to complete entrance counseling and the e-MPN.  The Department of Education currently does not support Safari.

All steps listed above must be completed in order for your Direct Loan(s) to be applied to your account.

Direct Subsidized Loan

You are eligible for a subsidized Direct Loan if you are in school at least half-time and demonstrate financial need.  With a subsidized Direct Loan, the federal government will pay the interest while you're enrolled at least half-time.

Direct Unsubsidized Loan

Unsubsidized Direct Loans are for students who are enrolled at least half-time and do not demonstrate financial need.  With an unsubsidized Direct Loan, you are responsible for paying the interest during all periods, starting from the date the loan is first disbursed.

Origination Fees

First Disbursed On or After	Origination Fee
October 1, 2022	1.057%
October 1, 2023	1.057%

Interest Rates

1st Disbursed On or After	And Before	Interest Rate
July 1, 2022	July 1, 2023	4.99%
July 1, 2023	July 1, 2024	5.50%

UG Annual Loan Limits

Year/Classification	Base Amount	Additional Unsubsidized Loan	Total
Dependent Students
Freshman	$3,500	$2,000	$5,500
Sophomore	$4,500	$2,000	$6,500
Junior or Senior	$5,500	$2,000	$7,500
Independent Students
Freshman	$3,500	$6,000	$9,500
Sophomore	$4,500	$6,000	$10,500
Junior or Senior	$5,500	$7,000	$12,500

Aggregate Loan Limits

• Undergraduate Dependent Students: $31,000 (no more than $23,000 Subsidized Direct Loan)
• Undergraduate Independent Students: $57,500 (no more than $23,000 Subsidized Direct Loan)