The Free Application for Federal Student Aid (FAFSA) is the need analysis form you must file to begin the financial aid process. The FAFSA is available online
after January 1 at www.fafsa.ed.gov. Electronic processing can take up to two weeks less time than the paper process. The FAFSA determines your “Estimated Family Contribution,” which, in conjunction with Fordham’s Cost of Attendance Budget, determines your eligibility for the subsidized Stafford Loan. The application is FREE. Beware of impostor sites that require a processing fee for the FAFSA.
Incoming students should complete the FAFSA as soon as tax information for the filing year is available. Since completed tax returns must be submitted to the Financial Aid
Office before any financial aid decisions are finalized, we encourage you to complete your federal tax returns early. Continuing students should complete the FAFSA Renewal Form no later than the end of April 2009, but we encourage you to complete it earlier, if possible.
If you have applied online previously for your FAFSA, you may use the same PIN number you used in the past. If you have forgotten your PIN, or are applying for
the first time, go to the main site at www.fafsa.ed.gov and follow the instructions for obtaining a new or duplicate PIN number. The PIN will function as an electronic
signature for your FAFSA application. Completion of the FAFSA will generate a Student Aid Report (SAR). This SAR will be sent to you automatically from the federal processor. Please review it and make any changes, if necessary. Most changes can be made online. The FAFSA also will generate an Express TAP Application (ETA) for the New York State TAP grant. The Fordham Law School TAP code is 5580.
Master Promissory Note
All first-time Stafford borrowers must complete a Master Promissory Note (MPN).Students are urged to file the electronic MPN (e-MPN), but you may use the paper
form. Fordham has established express electronic processing with the New York State Higher Education Services Corporation (HESC). If you decide to borrow with
HESC as guarantor, you should complete the MPN at www.hesc.org. You may choose your lender on the MPN. Since the MPN is good for ten years, you may
receive more than one loan under this MPN. An online entrance interview is required of Stafford Loan borrowers.
In addition to the FAFSA and the MPN, admitted students applying for the federal Stafford Loan must complete the first and last pages of the Fordham Application for Financial Aid. It serves as a request for federal loans and allows you to choose your lender and guarantor.
If you already have signed an MPN for Stafford Loans through Fordham, there is no need to file another. You will simply receive a notification from your lender indicating
that you applied for $x.00, your school has certified you for $x.00, and the dates you will receive your loan disbursements. Should you choose to change your
lender or guarantor, indicate the new lender or guarantor on your Fordham Application for Financial Aid or Fordham Renewal Application (for continuing students), and complete a new MPN. All Stafford Loan funds are sent to Fordham electronically and credited to your tuition account. Half will be sent prior to the fall semester, and the balance will be sent prior to the spring semester. If the Stafford Loans when added to your existing financial aid or other payments result in a credit balance, you will automatically receive a refund. If you are entitled to a refund, you may opt to have the refund deposited directly into your checking or savings account.
Graduate PLUS Loan application Procedures
Students who have applied for Stafford Loans and also wish to apply for Graduate PLUS Loans may do so through the New York Higher Education Services Corporation (HESC) and initiate the process at www.hesc.org. Click on Complete the e-MPN to begin the application process. Once credit is approved, you must complete a Grad PLUS Master Promissory Note (MPN) which will be processed by HESC before the loan is disbursed. When completing the MPN, you may choose the lender and indicate the lender code on the MPN page. An online entrance interview is also required of Grad PLUS borrowers.
Fordham Aid Application Procedures
The next application of importance to admitted students is the Fordham Application for Financial Aid. The Fordham Application determines your eligibility for all Fordham’s aid programs. There is no cost to complete the application. It requires your(and your spouse’s) and your biological or adoptive parents’ income and asset information.
You may apply on the paper form mailed to all admitted students, use the PDF form, or apply online at the admitted students website available at
https://law.fordham.edu/admitted. Although there is no deadline by which you must apply, funds may run out by late spring. We recommend that you apply soon
after you have been admitted.Fordham’s Financial Aid Office will calculate your Fordham aid eligibility and estimate federal aid eligibility, and send you a provisional award within two weeks of receipt of your completed application. In order to finalize a Fordham award, the recipient (and spouse) and parents will have to provide copies of their federal tax forms (1040, 1040A, 1040EZ), including all schedules andW-2 forms. Electronic filers should provide the full printout of the electronically filed application and submit that with copies of allW-2 forms. Fordham Grant/Scholarship and Loan awards will not be finalized until we receive these completed documents! If you and/or your parents are submitting a Request for Extension, Form 4868, please include that along with a copy of the prior year’s (2007) federal tax return. Your Fordham Grant/Scholarship and Loan will be awarded provisionally, subject to the actual submission of the finalized 2008 1040 in October. If you or your parentsare not filing income tax returns for 2008, please indicate that in writing to theFinancial Aid Office.
Fordham Law School does not participate in the Need Access or Profiles Services. Continuing students need only complete the renewal FAFSA and Fordham’s Renewal
Application to renew Stafford Loans for the next academic year. If you want to change your Stafford lender or guarantor, you may do so on the Renewal Application and
complete a new MPN. Be sure to include the new lender name and code.
Private Loan Application Procedures
To apply for a private education loan, you must apply directly with the lender of your choice.