Paying for College
Steps to Financial Aid
Step 1: Apply for a PIN online
If you wish to receive any federal grants, loans, or MTC scholarships you are required to complete the FAFSA. Start by applying for a PIN at www.pin.ed.gov. If you are a dependent student, one of your parents will also need to apply for a PIN. You will need it to sign your FAFSA and Direct Loan MPN electronically.
Step 2: 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.
Step 3: Request a tax transcript from the IRS by calling (800)908-9946 or click here to request a tax transcript online ( Make sure to select tax RETURN)). You should keep your tax transcript with your financial aid records until requested by MTC.
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.
- 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.
- 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.
- 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 Entrance Counseling Exam. ALL APPLICANTS MUST COMPLETE ENTRANCE COUNSELING EXAM
- 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. 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,
3. Completed and signed your MPN.
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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