Question regarding FAFSA, MPN, and Entrance Counseling

[Nalra095]

Hello,

I am entering Veterinary School this fall and so I recently filed for FAFSA for the first time...(I didn't have to do it on my own during undergrad so this is my first time doing it by myself). I just basically have a couple of questions that I need help with...

1. So I've filed my 2018-2019 FAFSA in January and received a confirmation email stating that I did, but in that email it only mentioned the amount for Direct Stafford Loan estimate of $xxxxx which is not nearly enough to cover the cost of vet school, and I am confused as to why it did not state any Direct PLUS grad loans..?

2. Apart from filing the FAFSA, when should I log onto my FSA ID and start a new Master Promissory Note and Entrance Counseling for vet school. I've already done this before for undergrad but I'm not sure as to when/if I need to do this for graduate school since I am taking out a different kind of loan(grad plus)? Do I wait until my financial aid awards come out or should I just do it now?

Thank you so much in advance!!

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[DrMidlife]

FAFSA is a form. It doesn't have any money to give you. It doesn't know where you were accepted. The US Dept of Ed takes the info you put in FAFSA, and makes it available to the schools you included in the form. The Dept of Ed mentioned what you can borrow in Stafford loans, because those loans have limits, regardless of what you're studying or where you're going to school. There's no actual limit on how much you can borrow under Gradplus, so there's nothing for Dept of Ed to tell you about Gradplus at this point. Dept of Ed is now waiting to hear from your school about how much you need to borrow.

Your school determines what you get to borrow, because your school knows its cost of attendance for next year. Your school will send you an award letter after they review the data you just submitted.

With the award letter will come instructions for accepting or declining any loans you are awarded in your financial aid package. While considering whether you want to accept federal aid you've been offered, then it's relevant to consider the MPN and entrance counseling.

You should be paying attention to whether your school has a scholarship/grant/loan app of its own. Otherwise your award package won't include any free money from your school.

Generally you can get to your school's financial aid page within about 2 clicks from your school's home page. This will give you info on how to contact them.

Best of luck to you.