Issue link: http://denverseminary.uberflip.com/i/326952
26 The Small Print Terms and conditions are listed on each award letter. The Financial Aid Policy Manual can be downloaded from the financial aid forms page on MyDenSem. APPLICATION Applying for financial aid begins with completing a free application for federal student aid (FAFSA) and a scholarship application. Free Application for Federal Student Aid (FAFSA) The FAFSA determines eligibility for federal loans, federal work study, seminary grants and need-based scholarships, and must be completed on an annual basis. With the exception of international students, all financial aid applicants are required to complete a FAFSA at www.fafsa.gov. Denver Seminary's federal code is 001352. FAFSA assistance can be found on both the federal loans and grants & scholarships application pages at http://www.denverseminary.edu/admissions/financial-aid/. Students should allow at least one week for the student aid report (SAR) to be received by the Financial Aid Office. In response, an award letter is emailed to the student within a week after receipt of the FAFSA. The FAFSA must be submitted each academic year. Additional Steps Students who accept a student loan offer for the first time at Denver Seminary must also complete entrance counseling and a master promissory note (MPN) at www.studentloans.gov. Both documents are valid for up to ten years, and thus generally do not need to be completed again. These documents need to be completed no later than three weeks prior to the start of the semester if a loan is needed to cover tuition and fees, as the student needs to have the award letter signed by the financial clearance deadline (typically six business days before the start of the semester). Penalties and interest on the student account may be applied if applications are not completed before that deadline. Scholarship recipients must also submit a thank you letter and picture to the Financial Aid Office each academic year that a scholarship, grant and/or tuition discount is received. Content requirements and deadlines will be linked to the award letter. AWARDING AND DISBURSING AID Award Letters Award recipients will be required to return a completed and signed award letter to the Financial Aid Office in order to become eligible for disbursements. Those accepting loans are required to accept the debt literacy statement, a customized summary of the student's aggregate student loan debt (taken from the national student loan data system (NSLDS) upon submission of the FAFSA), anticipated monthly payment, and annual salary required to reasonably manage that debt. Additional required application steps are also listed on the award letter (such as entrance counseling for first-time loan recipients, or the thank you letter for scholarship recipients; see the application section for additional details). Payment Deadline Tuition and fees for each fall and spring semester have a payment deadline which is typically by 12:00 noon, ten calendar days (six business days) prior to the start of the spring or fall semester. Payment can be made by having 100 percent of the tuition/fees balance covered by a combination of direct payment, payment plan, and/or financial aid. Awards accepted through the award letter will appear on the student's course and fee statement on MyDenSem as pending aid within one week of submission of the award letter