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Financial Aid Process

Where do you start? 

Complete the Free Application for Federal Student Aid (FAFSA) 

SCNM school code is G31070

The FAFSA determines your eligibility for grants and loans.  Graduate students are evaluated for Direct loans, Graduate PLUS loans and Federal Work Study. The FAFSA may be completed at www.fafsa.ed.gov. If you are a first-time borrower, you must apply for an FSA ID from the Department of Education at https://fsaid.ed.gov/npas/index.htm

Complete Your Master Promissory Note (MPN)

The Master Promissory Note is your contract to your rights and responsibilities as a borrower. It can be completed at www.studentloans.gov. The MPN must be completed separately for the Direct loans and Graduate PLUS loans.

Complete Your Entrance Counseling

The online entrance counseling provides information regarding loans, repayment options, grace periods, among others. The entrance counseling may be completed at www.studentloans.gov.

What Happens After I Have Applied for Financial Aid?

Notification and Status of Financial Aid Awards

After applying for federal aid, our financial aid staff will review your FAFSA to determine eligibility. Awards will reflect the maximum amount of aid you may borrow each quarter.  Award letters will be posted electronically on MySCNM. If you need to change the award amount, please contact the Financial Aid Office.

Disbursement of Financial Aid Funds

Federal Student Aid will be posted to your account for allowable tuition and fee charges prior to crediting your account for other costs such as living expenses.  Excess of funds are provided to you in the form of a live check or directly deposited in your bank account.  Verification of your class attendance must be documented prior to financial aid disbursement.  

Need more information?

Contact the financial aid staff at finaid@scnm.edu or call us at 480.222.9202