What Do I Need to Complete the FAFSA?

1. Social Security Number: If you are the student and completing the FAFSA please make sure you enter your social security number as it appears on your card. If you are an eligible non-citizen, you can enter your Alien Registration number on your FAFSA.

2. Federal Student Aid ID (FSA ID): The FSA ID is the username and password combination students and parents use to access Federal Student Aid websites. You can create an FSA ID, and you will be able to use it right away.

3. Access to your Federal tax return: You may be able to use the data retrieval tool to link the required tax return(s) to your FAFSA.

Please note, if you choose to borrow through the Federal Government's loan programs, you must complete a Master Promissory Note (MPN) and loan entrance counseling at studentloans.gov. Again, be sure to include Peirce’s school code (003309), so the College receives your information electronically.

What Happens When Peirce Receives My FAFSA?

If the Student Financial Services department needs additional information once your FAFSA has been received, we will contact you by email. If you are selected for a process called verification, you will be advised as to what documentation will be needed.

Typically, when entering a new FAFSA filing year Peirce College will notify students of any required documents around late March of that year.

Once your FAFSA has been reviewed and it has been determined that additional information is not required, you will receive an email about your financial aid available provided you have pre-registered for courses in the upcoming semesters.

If you have financial and/or academic holds on your account this may prevent the Student Financial Services department from determining your eligibility.

Once you enroll at Peirce, you will gain access to our student portal. Included in the portal is PCFAST, the Peirce College Financial Aid Systems tool. This tool provides students with information about their financial aid awards and required documents along with ways to learn more about being a responsible borrower.

Deadlines & Renewal

Financial aid is not an automatic process. Your FAFSA renewal reminder will be emailed to your Peirce College email address. Students should review the Renewal Application, make the appropriate updates and submit the form as soon as possible keeping in mind all important deadlines.

Types of Financial Aid

As a graduate student, you could be eligible for the following types of financial aid based on the results of your FAFSA, number of credits you are taking per semester and how much money you have borrowed at other institutions. Below you can find the options offered by the Federal Government, but be sure to review the scholarships offered by Peirce to apply for any additional funding that might be available to you and could help you with paying for graduate school.

Unsubsidized Federal Direct Loans

Under direct lending, the Federal Government allows eligible students through the higher education institutions they attend to borrow money. At the graduate level, students are eligible to borrow an Unsubsidized Direct Loan for a maximum of $20,500 per academic year to help with paying down graduate tuition. The student is responsible for paying all the interest on the Unsubsidized Direct Loan as this is an interest-bearing promissory note. Six months after the student is no longer enrolled or is taking fewer than six credits (or the equivalent of half-time status) the student will enter repayment.

ElmSelect

When federal loans and other aid do not cover your cost of education, private or alternative educational loans are available to our undergraduate and graduate students. Private educational loan programs vary by lender.

In ElmSelect, lenders are recommended based upon their historical lending with our students or are based upon the quality of products and services they provide to students and families. We have carefully considered our selections in order to provide you with the best possible list of suggested lenders. However, if you wish to use another lender that is not on this list, you have the right to do so.

Federal Graduate PLUS

Credit-worthy graduate students can borrow money needed to cover the total educational cost of the academic program, minus other financial aid. These loans are not need-based and are based solely on credit ratings. Please note that a student must borrow the Unsubsidized Direct Loans first. As with any loan, please borrow only what you need since this is money you will have to repay to the Federal Government.

Federal Work Study

A student enrolled as a graduate or professional student in a degree-seeking program is eligible to receive assistance through the Federal Work Study Program. In order to be considered for the Federal Work Study program, a student must demonstrate financial need, which is determined by completing the FAFSA. A student can be a full-time or part-time student at Peirce and be eligible for Federal Work Study and receive financial assistance for graduate school tuition. A student can choose to work on campus or at an approved off-campus location. The student is paid in the form of a check for the hours he/she works. Have questions about financial aid for graduate studies? Please contact the Student Financial Services Office:

SFS@peirce.edu

(215) 670-9600

888.467.3472, x9330