Paying for College
Steps to Financial Aid
Step 1: Complete your Free Application for Federal Student Aid (FAFSA) Online
The FAFSA can be completed at www.fafsa.ed.gov using the federal school code for MTC, 010736. The deadline for completing the FAFSA is 30 days prior to the fee payment deadline. FAFSA worksheets are available online or in the Financial Aid Office to assist you in preparing the information needed to complete the application. If you, or your parents, have not already applied for a PIN you may do so at the end of the FAFSA application.
Step 2: Request a tax return transcript by calling the IRS at (800)908-9946 or online at http://www.irs.gov/Individuals/Get-Transcript
Step 3: Sign up for your SALT account at www.saltmoney.org/mtc .
SALT is a free online program that helps students and alumni manage their money and student loans. Marion Technical College’s Financial Aid Department has teamed with the nonprofit organization American Student Assistance to offer the free program.
Step 4: Apply for a Direct Student Loan
If you feel that you still need additional financial aid, you may apply for a Direct Loan. To be eligible for a loan you must be enrolled for at least 6 credit hours and have a GPA of 2.0 or higher. You are also required to complete an Entrance Counseling Exam covering the basics of federal student loans. We must have the results of your FAFSA and you must be enrolled before we will process your loan application. Applications are due 30 days prior to the fee payment deadline.
1) Financial Awareness Counseling– We recommend that you complete the Financial Awareness Counseling at the Direct Loan website to determine the amount you need to borrow and estimate your budget, etc.
2) Loan Request Form– REQUIRED. Print and complete a Loan Request Form and turn it in to the Financial
Aid Office. This form will let the Financial Aid Office know how much you would like to borrow and for which terms you are requesting the loan.
3) Entrance Counseling Exam- REQUIRED. Once you have completed the Loan Request Form you will need to log into the direct loan website to complete the UNDERGRADUATE Entrance Counseling Exam. ALL APPLICANTS MUST COMPLETE ENTRANCE COUNSELING EXAM
4) Master Promissory Note (MPN)– REQUIRED. Once you have completed your Entrance Counseling Exam, you will need to complete and electronically sign your Master Promissory Note (subsidized/unsubsidized loans). You must fill out an MPN before the school can certify a loan.
Your student loan will not be processed until you have:
1. Printed, completed and turned in a Loan Request Form,
2. Completed an Entrance Counseling Exam, and
3. Completed and signed your MPN.
Remember to reapply for all financial aid (grants, scholarships, loans) each academic year.
If you need assistance or would like to use one of the department’s laptops to complete any of these steps, please contact the Financial Aid Office
at 740.389.4636 Ext 334 or email firstname.lastname@example.org
Remember to reapply for all financial aid (grants, scholarships, loans) each academic year. The financial aid award year begins Summer term and runs through Spring term.
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