Master of Information Systems Management
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US Citizens  >  Loan Application Process

Loan Application Process 

Financial Aid for the MSIT program is handled by the Heinz School Financial Aid Office.

Financial Aid Deadlines

To apply for federal Stafford loans and / or alternative loans it is best to complete your financial aid forms at least 6-8 weeks prior to the semester(s) for which you need financial aid. We suggest that, you complete your federal income tax return before filing your financial aid forms to avoid processing delays. This suggested time frame applies to:

  • FAFSA
  • Heinz School Financial Aid Application
  • All Promissory Notes (loan applications)
  • Federal Stafford Loan Entrance Counseling

If you want to apply for financial aid and do not meet the suggested deadlines time frame, you should still submit your financial aid forms for consideration for financial aid.

Financial Aid Application

In order to be considered for federal financial aid, students must submit The Heinz School Financial Aid Application.

Which Financial Aid Application to submit...

FAFSA

The Free Application for Federal Student Aid (FAFSA) should be submitted to the federal processor as early as possible after Jan 1, but not before you file your federal income tax return. The FAFSA will be used to determine your eligibility for federal financial aid. You may file this application electronically on the web. The electronic process has prompts that are easy to follow and the system will edit your application for errors. If you are not able to file your FAFSA electronically, you may request the paper application by contacting the Heinz School Financial Aid Office. If you file your FASFA electronically use your US Department of Education PIN to sign your FAFSA. Please note: You must list Carnegie Mellon University - Heinz School code (E00073) on the FAFSA.

Which FAFSA to submit...

  • New Students BEGINNING Spring 2008 - Complete 2007-2008 FAFSA.
  • New Students BEGINNING Summer 2008, Fall 2008, or Spring 2009 – Complete 2008-2009 FAFSA.
  • Students GRADUATING Summer 2008 - Complete 2007-2008 FAFSA.
  • Students CONTINUING BUT NOT GRADUATING Summer 2008 - Complete 2008-2009 FAFSA.
  • Students GRADUATING Summer 2009 - Complete 2008-2009 FAFSA..

SAR

Within a few weeks of submitting your FAFSA to the federal processor, review and print your Student Aid Report (SAR) on www.fafsa.ed.gov:

  • 3-5 days after submission - if you used a PIN to sign your application or
  • 7-10 days after submission - if you printed, signed and mailed a signature page.

If changes are required, do so onlineusing your US Department of Education PIN. The Financial Aid Office will receive your FAFSA data electronically.

Verification

If you are selected for a process called "verification," it will be noted on your SAR. In this case, you will be required to submit to the Heinz School a signed copy of your federal income tax return (and a signed copy of your spouse's federal income tax return if you are married), copies of all W-2 Wage and Tax statements used to complete your tax return and a completed Verification Worksheet prior to disbursement of federal aid. The School has the right to request any documentation it determines necessary to verify information provided on the FAFSA and/or other application materials. Failure to submit requested documents within the award year will result in a decision to deny federal aid. If your award changes as a result of the verification process, the school will notify you in writing within 30 days of the award change.

Financial Aid Award Letter

The Heinz School will send you a financial aid award letter after receipt of your FAFSA data from the federal processor and your Heinz School Financial Aid Application. The award letter will list all financial aid for which you are eligible. It is not necessary to return this award letter unless you want to reduce or deny any of the financial aid offered. In this case, you will need to indicate on the award letter the financial aid you wish to accept, sign, date and return the award letter to the Heinz School. If you do not return the financial aid award letter, the Heinz School will certify your federal loan(s) for the maximum loan amount(s) listed on the letter.

PLEASE NOTE: The amount of the loan you are eligible to borrow may be adjusted if you add or drop classes after your loan is approved. If dropping classes changes your enrollment status to less than half time (18 units), your loan will be canceled.

Stafford Loan Application*

Stafford loan borrowers are required to submit a Stafford Master Promissory Note (MPN). The Stafford MPN is a multi-year loan application.  If you submitted a Stafford MPN in a prior semester, even if you attended a different school, it is not necessary to complete another one unless that MPN has expired or you have chosen a new lender. You may submit an online Stafford MPN by clicking on one of the lender links below OR on the AES website  using your US Department of Education PIN .  If choosing a lender not listed here or on the AES site, please submit your completed paper MPN to the Heinz School Financial Aid Office.  

Grad PLUS Loan Application*

If a Graduate Student PLUS Loan is offered in your award letter, you may apply for the loan online by clicking on one of the lender links below OR on the AES website using your US Department of Education PIN.  The Grad PLUS Loan application in NOT a multi-year note.  Students must submit a new promissory note every time they apply for a Grad PLUSs loan.  If choosing a lender not listed here or on the AES website, please submit your completed paper Grad PLUS Promissory Note to the Heinz School Financial Aid Office.

*All Stafford and Grad PLUS loan borrowers must complete federally required loan entrance counseling the first time they borrow as a Carnegie Mellon University graduate student. When selecting a school, please indicate Carnegie Mellon University-Heinz School.  If you do not have access to a computer, please contact the financial aid office to make other arrangements.

Federal Stafford & Grad PLUS Lenders

Although student borrowers may choose any participating lender for their education loans, the Heinz School has developed the following rotating alphabetical listing of lenders for students who want assistance in selecting a lender.  The Federal Stafford Loan and Federal Grad PLUS Loan lenders were selected through a “Request for Information” (RFI) process asking lenders to provide details about their affiliates, their customer service standards and history, and their financial benefits to students.  A separate RFI process was used to collect information about (non-federal) education loans.  A committee of Heinz School staff and students reviewed and compared the lenders’ RFI responses and selected the following preferred lenders for 2008-2009. Borrowers are always encouraged to compare lender benefits before selecting a lender.

LENDER

STAFFORD LENDER CODE

GRAD PLUS LENDER CODE

WHERE TO APPLY

WHERE TO COMPLETE REQUIRED FEDERAL ENTRANCE COUNSELING

         
CHASE 811571KB 811571 VIEW BORROWER BENEFITS AND APPLY Included in the application process
CITIBANK 808942 808942 VIEW BORROWER BENEFITS AND APPLY AES
CITIZENS 833880KB 833880KB VIEW BORROWER BENEFITS AND APPLY Included in the application process
NATIONAL CITY 808942KB 808942KB VIEW BORROWER BENEFITS AND APPLY Included in the application process
PNC 809921KB 809921GP VIEW BORROWER BENEFITS AND APPLY Included in the application process
SALLIE MAE 802218 802218 VIEW BORROWER BENEFITS AND APPLY Included in the application process
WACHOVIA 813830KB 813830KB VIEW BORROWER BENEFITS AND APPLY Included in the application process

Loan Approval

After all of your completed forms are submitted and the school has determined your loan eligibility, we will certify your federal Stafford and/or PLUS loan(s) and send you a loan certification confirmation letter. Shortly after loan certification you should receive a loan approval and disclosure statement(s) from your lender, one for each type of loan borrowed. Please feel free to contact the Heinz School Financial Aid Office if you have any questions about the loan application process.

Right to Cancel

Please note that you have the right to cancel all or part of your federal Stafford and/or PLUS loan(s) within 30 days of the start of the enrollment period for which the loan is intended or 30 days from the date the school notifies you of receipt of the loan funds. To cancel, students may call or write the Heinz School Financial Aid Office.

© 2006 Carnegie Mellon. Online Masters of Science in Information Technology.