Apply for Financial Aid
Apply for Direct Loans
The first step in applying for Direct Loans is filing your 2010 federal tax return. If you are unsure of your filing requirements, please refer to the IRS Publication #501, Exemptions, Standard Deduction, and Filing Information.
Next, file the 2011-2012 Free Application for Federal Student Aid (FAFSA). You’ll need your Department of Education PIN as well as your Social Security number and driver's license number; W-2 forms or any other records of earned income; federal income tax return for the previous year; records of other untaxed income (welfare, Social Security, veteran's benefits, AFDC, TANF, ADC, and military or clergy allowances); and current bank statements and records of other savings and investments such as stocks, bonds, and mutual funds.
- Non-US citizens will need their permanent resident card.
- The Adler School's federal school code is G20681.
- All graduate students must file as "independent" regardless of the dependency status listed on their federal tax return.
- All housing is "off campus.”
- Parents' tax information should not be included.
- We recommend that you retain a copy of the FAFSA completion confirmation e-mail for future follow up.
- Failure to meet the completion deadline will delay processing of your financial aid packet and could result in delays to disbursement.
- The preferred FAFSA completion deadline for returning students is May 16th, 2011. If you do not meet the completion deadline this will delay processing of your financial aid packet which could result in delays to your funds disbursement for the Fall 2011 term.
After you have completed your FAFSA, confirm mailing address. 2011–2012 Financial Aid Award Notice emails are sent to each student's Adler School email address, however, the Office of Financial Aid may send other material to the student address on record. Please check WebAdvisor to confirm we have the correct address and contact the Registrar to make any necessary changes.
Finally, update your Student Aid Report (SAR). Once you submit your FAFSA, the Department of Education will send you a SAR for review. If you have missing or incorrect information, make changes immediately. Your completed FAFSA will be sent to us, and we will produce an award notice email detailing your Direct Loan and Federal Work Study award. You must complete and return all required forms before we can certify Direct Loans.
Note: Some students' files will be selected for a process called Verification, either by the Department of Education or by the school. If your file is verified, you will be required to submit a signed copy of your federal tax return and additional forms before an award notice email can be produced for you. This step can delay the application process, so we strongly recommend completing the FAFSA early.
Apply for Direct Graduate PLUS Loans
The first step in applying for Direct Graduate PLUS Loans is determining your financial need. If you need assistance, please refer to the cost of attendance worksheet available through Moodle in the Office of Financial Aid's forms folder. Moodle also has a Term Budget Calculator which is helpful after the school year has begun to calculate an estimated refund amount and factor in your confirmed work study wages. If you need help calculating your cost of attendance or determining eligibility to take out additional funds for the term, please contact us by email or phone (312-662-4150).
Next, Calculate 2.5% for loan fees. A loan fee rebate of 1.5% is awarded automatically at origination of the Direct Graduate PLUS loan as an incentive for student borrowers to make qualified payments on time. When you are in repayment, you will make twelve monthly payments on time. If you neglect to do so, the rebate amount will be added to your principal balance. Please refer to the “Cost of Attendance Troubleshooting” sheet if you need assistance calculating loan fees.
You'll need to complete an electronic master promissory note (MPN). Complete this step online. Once you've logged in, select "Complete MPN for Student Loans" and then "Graduate Plus." You will be required to use your FAFSA PIN to complete the MPN. If you've misplaced your PIN, request a duplicate. Please maintain a copy of your MPN confirmation email for future follow-up.
When you are ready, submit the completed application to the Office of Financial Aid via fax (312-662-4197) or email. The Office of Financial Aid requires both an MPN and completed Application for Additional Financial Aid form before we can begin loan certification. Incorrect or missing information entered on either form can delay the loan certification process. Please check your Adler School e-mail account on a regular basis for communication about your loan application.
If you are expecting a refund check for living expenses, it will be available approximately four to six weeks from the date that you have submitted all required materials. If you do not see a refund check within that time frame, please contact Student Accounts Manager, Cynthia Cruz.
Apply for Alternative (Private) Loans
The first step in applying for Alternative Loans is choosing a lender. Next, determine the application amount. Keep in mind that a refund check cannot exceed the school-determined cost of living, which is $9,200 per term for the 2011 - 2012 academic year.
You can apply for the loan online through Great Lakes. You can also obtain an Alternative Loan Application form on Moodle. Once you have completed it, return it to the Office of Financial Aid.
The Office of Student Accounts requires four to six weeks to process Alternative Loan applications.
Note: International students and students who are ineligible to receive federal loans must complete Adler School's Institutional Application when they apply for the loan. Students can request this form from the Office of Financial Aid or download a copy from Moodle. International Students must have a cosigner to apply for Alternative Loans. The cosigner must be a US citizen or permanent resident with an established credit history.