Financial aid help please!!

[toothysmile]

Advertisement - Members don't see this ad

Can someone please give me a breakdown on the whole financial aid process?? I feel really dumb not knowing what I'm doing and everyone else seems to know how the process goes, so please help me!

Do you guys have to fill out the Master Promissory Note for direct loans? It says to choose which loan we want to receive? with choices subsidized/unsubsidized, graduatePlus, and parent. Do I fill out a MPN for sub and graduate? or do I choose one of them?

Do I need to fill out any specific forms or specific loans? Or is everything just in one big pool where I just fill out the FAFSA and the school financial aid form and then they will just give me one of those loans?

Ah, I don't understand any of this at all 🙁 I would appreciate some detailed help, thank you!!

 

[DistinctSummer]

Repost this in the Dental forum rather than the pre-dental forum.

 

[DesiDentist]

Can someone please give me a breakdown on the whole financial aid process?? I feel really dumb not knowing what I'm doing and everyone else seems to know how the process goes, so please help me!

Do you guys have to fill out the Master Promissory Note for direct loans? It says to choose which loan we want to receive? with choices subsidized/unsubsidized, graduatePlus, and parent. Do I fill out a MPN for sub and graduate? or do I choose one of them?

A promissory note is "promising to pay" back the loans. For each loan you get your sign a promissory note.

Subsidized means that interest does not accrue during your education

Unsubsidized means interest will accrue during your education.

GraduatePlus is a type of loan.

Parent is a great type of loan and interest payments may include doing free dental work for the rest of your life.

Do I need to fill out any specific forms or specific loans? Or is everything just in one big pool where I just fill out the FAFSA and the school financial aid form and then they will just give me one of those loans?

Start with the FAFSA and the school will figure out how much you can borrow from federal loans. If you need to borrow more they will assist you in finding the best loans.

Ah, I don't understand any of this at all 🙁 I would appreciate some detailed help, thank you!!

Hope this helps. I go over the entire loan process and different types of financial aid in my book: SDN Dental School Admissions Guide.I have included a "balance" sheet to calculate your expenditures during dental school so you know how much to borrow. Click the link below.



DesiDentist

 

[toothysmile]

Well, I figure most of the people that are entering dental school next year would know about the financial aid process (since that's what I'm going through right now).

I understand what each type of loan means, but I'm not sure if I'm supposed to fill out a MPN for each loan or just one of the loans? Because before I fill out the MPN, it asks me which one I would like to receive. And honestly, I would like to receive any, I just want enough money to go to dental school!

So my question is really, do I need to pick a specific type of loan and fill out a specific application/form for the loan... or will FAFSA/the school automatically just assign some loan to me. Seems like they will just give me some kind of loan, but I just want to make sure.

Thanks!

 

[rjpeters]

Well, I figure most of the people that are entering dental school next year would know about the financial aid process (since that's what I'm going through right now).

I understand what each type of loan means, but I'm not sure if I'm supposed to fill out a MPN for each loan or just one of the loans? Because before I fill out the MPN, it asks me which one I would like to receive. And honestly, I would like to receive any, I just want enough money to go to dental school!

So my question is really, do I need to pick a specific type of loan and fill out a specific application/form for the loan... or will FAFSA/the school automatically just assign some loan to me. Seems like they will just give me some kind of loan, but I just want to make sure.

Thanks!

Direct Loans (federal subsidized and unsubsidized) are all taken care of under the same MPN. If you are wanting to apply for Direct Grad Plus loans, that is a separate MPN.

In my experience, I signed both MPNs, because I was willing to receive any and all financial aid they were willing to award. Within a week of signing the MPNs online, I received my financial aid award letter.

If you go to studentloans.gov and use your PIN from FAFSA, you can sign in, fill in the information, and "sign" both MPNs on this website. Hope this helps!