Previous Borrower at Polytechnic Institute of NYU
If you have previously borrowed a Federal Stafford Student Loan as a Polytechnic graduate student, please refer to the following step-by-step renewal instructions: To be eligible for a Federal Stafford Student Loan you must be accepted, and matriculated in a degree program, enrolling for a minimum of 6 credits per semester. Complete the Free Application for Federal Student Aid (FAFSA) on the web at www.fafsa.gov. After completing the application and submitting it on-line, please remember to download the signature page, sign it and mail it to the address indicated. It is recommended that you complete your renewal FAFSA by April 15, 2007 if you plan on attending during Summer 2007, Fall 2007 or Spring 2008.
Complete a Stafford Student Loan Request Form available in the Office of Financial Aid. It is preferred that all students apply for loans on an annual basis. So, if you will be attending for the fall and spring semesters, calculate the loan amount you will need for the entire year and apply for that amount on your loan request form.
Once the Office of Financial Aid receives the results from your FAFSA application electronically along with the Stafford Student Loan Request Form, we will determine your loan eligibility based upon the number of credits for which you will be enrolled and your financial need. In some cases, you may be "selected for verification" by the federal government and will then be required to submit additional documentation to our office.
Our office will then transmit your eligibility electronically to New York State Higher Education Services Corporation (NYSHESC). Since you have a valid MPN on file with NYSHESC from your previous loan, NYSHESC will guarantee your loan within 24 hours.
Our office will then give you credit for the loan amount that you have been approve for. The loan funds will be electronically transmitted to the University, and deposited in your tuition account.
We hope that the above information has been helpful. Please feel free to contact our office if you have any additional questions. |
