Financial Aid Office

FEDERAL DIRECT STUDENT LOAN ONLY
2013-2014 Procedures

The Financial Aid Office will review your processed Free Application for Federal Student Aid (FAFSA), 2012 Federal Income Tax Returns for both parents and student (including all schedules filed and copies of original W-2's) and a Federal Verification Worksheet. This information will be used to determine the maximum "subsidized" Federal Direct Student Loan eligibility. If the subsidized eligibility is not the full amount you are eligible to borrow based on your class standing, you may apply for the remaining amount as an "unsubsidized" Federal Direct Student Loan.

In order to process (certify) a Federal Direct Student Loan for the 2013-2014 school year steps 1 through 6 MUST be completed.

STEP 1: You must file a 2013-2014 FAFSA with Skidmore College's code (002814). You should file electronically, after January 1, 2013, by going to the FAFSA website. Skidmore College will receive the information electronically as long as our school code is listed.

STEP 2: Submit to the Financial Aid Office, you and your parents' 2012 Federal Income Tax Return, signed, with all schedules and copies of original W-2's attached.

STEP 3: Submit to the Financial Aid Office a 2013-2014 Federal Verification Worksheet.

STEP 4: Federal Direct Student Loans require an ENTRANCE INTERVIEW be completed for all first time borrowers. If you borrowed a Federal Student Loan in a prior year at Skidmore College you are not required to complete.

STEP 5: You must complete a Federal Direct Student Loan Master Promissory Note (MPN) online. This must be completed in order for the loan to be certified and disbursed to Skidmore College. If you borrowed a Federal DIRECT Student Loan in the 2013-2014 academic year you do not need to complete another Master Promissory Note.

STEP 6: Complete the Loan Only Form and return it to the Financial Aid Office. Once all the above steps are completed and the information is received, your loan will be certified.

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