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Financial Aid Forms

Financial Aid forms

Instructions

Students must file the FAFSA first to see if they are eligible for the loans listed below.
Apply after April 1 each year.

Step 1: Parent applies for the Parent PLUS Loan (must re-apply each year)

  • Open a Google Chrome web browser. You must use Google Chrome because it is the only browser that is fully compatible with the federal websites.
  • Go to studentaid.gov/plus-app/parent/landing.
  • Log in using the Parent’s FSA ID, which is the username and password you used to sign the FAFSA. This loan is in the parent’s name on behalf of the student.

Note: If the parent is denied the Parent PLUS Loan, contact the Financial Aid Office at financialaid@grace.edu for additional options.

Step 2: Parent fills out the Parent PLUS Loan Master Promissory Note

  • If the parent is approved for the Parent PLUS Loan, he/she will need to sign the MPN.
  • There is an option to fill out the MPN immediately following filling out the application or go to studentaid.gov/mpn and log in beside “I’m a Parent of an Undergraduate Student.”
  • Log in using the parent’s FSA ID, which is the username and password used to sign the FAFSA.

Students must file the FAFSA first to see if they are eligible for Direct loans.

Step 1: Loan Entrance Counseling for Direct Loan(s)

Entrance Counseling provides the knowledge and tools you need to understand the terms of
borrowing and repayment of student loans. Please set aside 20-30 minutes to complete.

  • Open a Google Chrome web browser. You must use Google Chrome because it is the only browser that is fully compatible with the federal websites.
  • Go to studentaid.gov/entrance-counseling.
  • Click on the blue “Log in To Start” button. You will need to log in with your student FSA ID, which is the username and password you used to sign into the FAFSA.

Step 2: Master Promissory Note (MPN) for Direct Loans

The Master Promissory Note (MPN) is a document that you sign to affirm that you understand and agree to the loan borrowing and repayment terms. Please set aside 20-30 minutes to complete.

  • Please be prepared ot provide reference information for two people you have known for at least three years. The first reference should be a parent or legal guardian. The second person must be a person living at a different U.S. address. You will need their addresses and phone numbers.
  • Open a Google Chrome web browser. You must use Google Chrome because it is the only
    browser that is fully compatible with the federal websites.
  • Go to studentaid.gov/mpn.
  • Click on the blue “Log in To Start” button. You will need to log in with your student FSA ID, which is the username and password you used to sign into the FAFSA.

Note: Entrance Counseling and Master Promissory Note are valid for 10 years.

Your Financial Aid Checklist

Paying for college is a team effort, and we’re here to help every step of the way. Follow these six steps to make the most of every dollar available to you.

FEDERAL SCHOOL CODE

001800

Add it when you file the FAFSA.

INDIANA GRANT DEADLINE

April 15

File your FAFSA by this date.

DIRECT LOAN WINDOW

Jun 1 to Aug 15

For new students.

SIX STEPS TO FUNDING

Step 1 - Search for Outside Scholarships

All students Anytime

Free money is out there, and some of the best opportunities are close to home. Check with your local community foundation for scholarships just for students in your area. If you receive outside aid, complete the Outside Funding Worksheet so we can include it in your aid package.

Find your community foundation

Step 2 - Create Your FSA ID

New students As soon as possible

You and your parent will each need an FSA ID to sign the FAFSA. It only takes a few minutes.

Create your FSA ID

Step 3 - File the FAFSA

All students Before April 15

File online and add Grace College using our Federal School Code. Filing by April 15 keeps you eligible for
Indiana state grants.

GRACE SCHOOL CODE: 001800

Missed the deadline? You can still file for federal aid and Grace aid based on financial need.

File the FAFSA

Step 4 - Review Your Financial Aid Offer

All students As soon as you receive it
Decline or reduce

Turn down any aid you don’t want. Continuing students: Direct Loans process automatically unless you decline them.		 Confirm your status

Check your housing and enrollment status. If anything is wrong, let us know right away, since changes can affect your aid.

Instructions for both are included with your financial aid offer.

Step 5 - Consider a Parent PLUS Loan

All students April 1 to August 15 Optional

If your family needs additional funds, parents may apply for a Parent PLUS Loan.

See how to apply

Step 6 - Complete Your Direct Loan Requirements

New students June 1 to August 15

To receive Direct Loans, finish these two items online:

  • Direct Loan Entrance Counseling
  • Direct Loan Master Promissory Note
Go to studentaid.gov

Questions? We're here to help.

Our Financial Aid team is happy to walk you through any step.

Call (800) 544-7223, ext. 6162 or email Financial Aid.

Contact Grace

1 Lancer Way
Winona Lake, Indiana 46590
(800) 544-7223

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