Actions needed to use Federal Student Aid

1. submit a FAFSA with School Code 032993

Use the Free Application for Federal Student Aid (FAFSA) website: https://fafsa.gov
The FAFSA must be reviewed each year to determine your eligibility to use federal aid including grants and loans. Pacific College cannot review your FAFSA unless you provide Pacific College’s FAFSA Code: 032993 when prompted.

If you did not file a federal tax return and do not plan to file, you may need to provide a “Verification of Non-filing Letter” from the IRS.

2. Entrance Counseling (ec) TO BORROW FEDERAL LOANS

Before a federal loan can be disbursed, a student must complete Loan Entrance Counseling.
Loan Entrance Counseling ensures you understand the terms and conditions of your loan and your rights and responsibilities. You'll learn what a loan is, how interest works, your options for repayment, and how to avoid delinquency and default. You must complete entrance counseling in one sitting.

3. Master Promissory Note (MPN) to borrow federal loans

Before a federal loan can be disbursed, a student must sign a Master Promissory Note (MPN).
A Master Promissory Note (MPN) is a legal document agreeing to the loan terms and conditions including a promise to repay loan(s) and any accrued interest and fees to the U.S. Department of Education.

4. FAFSA CORRECTION AND/OR Supporting evidence for verification

Verification is the process used to confirm that the data reported on your FAFSA form is accurate. If you’re selected for verification, we will request additional documentation that supports the information you reported.

5. PROGRAM FINANCING PLAN (pfp)

A Program Financing Plan (PFP) issued by the Financial Aid Office will describe cost of attendance, financial need, along with financial aid offers which may include federal and state aid. Review the PFP carefully.
Learn more about Accepting Financial Aid.

6. review aid offers using financial aid portal

After school begins, students will be invited to create an account on the Financial Aid Portal (also known as Regent) and make formal decisions about aid offers first presented on the Program Financing Plan (PFP).

In the Financial Aid Portal, federal loan choices are:

  1. Accept the Full Gross Amount Available = Borrow maximum offered federal loans, which may cause an FSA Credit Balance paid to Student for indirect costs of living.

  2. Decline the Full Gross Amount Available = Do not borrow federal loans and pay balance directly to Pacific College.

  3. Accept the Gross Amount Available up to the Amount of my remaining Direct Costs = Borrow loans to finance only tuition and fees charged by Pacific College.

  4. Accept a Specific Gross Amount = Specify the amount of federal loans to borrow.

NOTE:  It is important to be aware that the FAFSA renewal process is required to continue access to Federal Student Aid (FSA). It is a student’s responsibility to satisfy all parts of aid processes so aid access is not interrupted. Interruptions of financial aid is will result in the student owing balances that were planned to be financed by aid.