Do I have to fill out a FAFSA (Free Application for Federal Student Aid) each year? Yes, you must reapply using the FAFSA each year for the upcoming fall semester. The FAFSA is available at www.FAFSA.ed.gov January 1 each year.
Do I have to complete a new Master Promissory Note and/or Loan Entrance Counseling? No, the Master Promissory Note and Loan Entrance Counseling is a one-time requirement for federal direct loans.
Do I have to reapply for a Direct Parent PLUS loan and/or Alternative Loan each academic year? Yes, you have to reapply for one of these loans. We recommend that when you apply for one of these loans, you apply for the entire academic year and not just one semester at a time.
When should I fill out a FAFSA (Free Application for Federal Student Aid)? FAFSA applications are available at www.FAFSA.ed.gov after January 1 of each year for the upcoming academic year. There is no set deadline for filing a FAFSA to be sent to Cabrini, though Pennsylvania residents are encouraged to file before May 1st, as this is the deadline for any consideration for a PA State Grant.
Does Cabrini offer scholarships/grant money? Students can receive an achievement scholarship or grant after review of their final transcripts. This is renewable for their college career. Students also may receive a Cabrini grant after review of their FAFSA if they are deemed to have significant financial need.
If I am receiving a Cabrini grant, and my GPA falls below a 2.0, do I lose my grant? Students will be given the following semester to make up the grade in order to receive it from there on out. Grades are reviewed at the end of the Spring term.
What is the difference between the Direct Parent PLUS loan and Alternative loan? The Direct Parent PLUS loan is a federal loan borrowed by the parent of the student. Alternative loans can be borrowed through a bank or credit union by parent or the student (with co-signer).
How do I apply for a Direct Parent PLUS loan? Direct PLUS loan application can be found at www.studentloans.gov. The parent must apply with their PIN number, not the student’s PIN number.
I was just approved for a Direct Parent PLUS loan and/or Alternative loan, how long does it take to be processed? Approved loan applications can be processed within 7-10 business days.
How do I know if I am eligible for federal work study? Students must file a FAFSA in order to be eligible. If you are eligible for work study, you will receive notification in your financial aid award letter.
Can I use my loan money for books? If your tuition has been paid and you have a credit on your account, you may use loan money for books in the form of a book voucher.
Why would I have a financial aid hold on my account? There may be a number of different reasons why you may have a financial hold, e.g. supplemental form not submitted/incomplete, incomplete or incorrect Master Promissory Note, incomplete Loan Entrance Counseling, verification documentation missing.
If I have a credit on my account when will I receive my refund check? Refund checks are issued after the last day to add/drop classes. Only book vouchers can be used before that time.