To apply for financial aid, new students must complete the following five steps. Failure to complete all steps will delay your receiving financial aid.
Step 1: Apply for a PIN (Personal Identification Number).
You will need your PIN to sign in to the studentloans.gov website, and complete all further steps. You will need to provide your name, address, social security number and date of birth. You will also select and answer a challenge question. You will receive your PIN in approximately three to four days by e-mail or postcard.
Step 2: Complete the Free Application for Federal Student Aid (FAFSA) form for the current award year. You will need information from your federal tax return and W-2 forms for 2011 to apply for the 2012-2013 academic year. (For the 2013-2014 academic year, you will need your tax return and W-2 for 2012.) For assistance, please call the FAFSA hotline at 800-433-3243. Cambridge College's school code is 021829.
Step 3: Complete the mandatory Entrance Counseling. All new students must complete entrance loan counseling prior to loans being disbursed to their account.
New students -- sign in with your PIN and click on Entrance Counseling, and follow online instructions.
The session will take about 25 minutes to complete, and the Financial Aid office will receive electronic confirmation. Entrance Counseling is a federal requirement even if you have borrowed at other schools.
Step 4: Financial Literacy Counseling All new students and students entering a new program must complete financial literacy counseling prior to loans being disbursed to their account. Go to www.saltmoney.org, create an account and sign in, click on Get Money Smart and complete the following required courses:
--Loan Repayment: Repay your Way, and
--Financial Goals: Make it Happen
Each course has an exam at the end. You must achieve a score of 80, or re-take the course and exam until you do.
Step 5: Complete the Master Promissory Note.
Whether you have borrowed before at other schools or not, you must complete a new promissory note. The Cambridge College direct loan code is G21829.
New students--MPN for the William D. Ford Federal Direct Loan Program Go to www.studentloans.gov and click on "Sign Master Promissory Note." For assistance, call Direct Loan Applicant Services at 1-800-557-7394.
Please complete the application thoroughly. If you do not, your loan will be delayed.
Continuing students must reapply every year to be considered for continuing financial aid. Only step 2 above is needed. However, if you have not taken out a federal student loan in prior years at Cambridge College, you will need to complete all steps, as a new student.
Step 2: Complete the Free Application for Federal Student Aid (FAFSA)
If you applied in the previous year, complete the Renewal FAFSA. Your PIN will bring up your file and you will update your financial information. Cambridge College's school code is 021829.
If you experience any problems when using this site, please contact the IT department.