Application Deadlines and Renewal of Aid
The Free Application for Federal Student Aid (FAFSA) priority deadline for financial aid is October 1. FAFSAs will be accepted after this date but may not receive priority. There may be additional deadlines provided to students by the Financial Aid Office that, if not adhered to, may impact potential start dates and/or timing of funding disbursements.
Financial Aid is not automatically renewed every year; a student must re-apply by completing the FAFSA and other paperwork as required. The Direct Master Promissory Note (MPN) for federal student loans is good for 10 years.
Applying for Financial Aid
Below are the application steps to apply for federal student aid:
- Obtain an FSA ID. A student and one parent (if applicable) can individually obtain an FSA ID to access the federal student aid online system.
- You must have an FSA ID to complete a Free Application for Federal Student Aid (FAFSA).
- Fill out the FAFSA form here, completing all sections, sign the FAFSA, and submit the application for processing.
- Include the federal school code for Aspen University: 040803
- Complete the Loan Entrance Counseling form.
- If you’ve never received a Direct Loan or Federal Family Education Loan, you’re required to complete entrance counseling to ensure that you understand the responsibilities of taking out student loans.
- Sign the Master Promissory Note.
- A student and/or parent who apply for Federal student loans must promise to repay them, along with any interest and fees. The applicable form can be completed here.
- Complete any additional paperwork requested by the Financial Aid Department.
- Review the award notification letter.
Students who wish to borrow Federal Student Aid are expected to submit all required financial aid documents prior to the course start date. If a student is unable to qualify for financial aid, the University will update the student’s method of payment to Cash and the student will be held responsible for any outstanding balances incurred. Note: For all programs, all students borrowing Federal Student Aid are required to make Satisfactory Academic Progress in order to maintain eligibility for Title IV federal financial aid.
Financial Aid Re-Application Process
It is the student’s responsibility to reapply for funding as necessary. In accordance with Title IV Regulations, a student not completing the financial aid process in a timely manner while in attendance may forfeit eligibility for financial aid assistance that might otherwise have been available during that period of enrollment and will become fully responsible for all remaining balances.