APPLY: US CITIZENS & PERMANENT RESIDENTS

Complete the Free Application for Federal Student Aid (FAFSA)
The basic application used to apply for financial aid at any school in the nation is called the Free Application for Federal Student Aid, (FAFSA).  This application is used to apply for federal, state, and institutional sources of financial aid.  Prior to filling out the FAFSA, apply for your personal identification number (PIN) online at www.pin.ed.gov.  With your PIN you will be able to sign and access your FAFSA application online.  You can complete the FAFSA by going to www.fafsa.ed.gov. Be sure to include the Monterey Institute of International Studies’ Title IV School Code on section 6 of the FAFSA, which is 001241.

Approximately two to three weeks after you file your FAFSA, the U.S. Department of Education will send you a Student Aid Report (SAR), summarizing the information reported on your application.  Be sure to review your SAR and make any appropriate changes.  If you need assistance with this you can call 1-800-4-FED-AID (1-800-433-3243).

Complete the Monterey Institute Financial Aid Application
The Monterey Institute Financial Aid Application will be emailed to you after we receive your FAFSA data from the federal processors.  Anyone seeking financial assistance is required to complete this application in addition to the FAFSA. 

Provide any Further Documentation Requested
You may be asked to submit additional documents such as a signed copy of your taxes or verification of citizenship status etc. This verification information is required by the federal government before we can issue an award letter to you. If any of these documents are required of you, you will receive an email from the Office of Student Financial Planning requesting such documentation, so be sure to check the email address that you reported on your FAFSA form regularly. This will be our main form of communication with you as we complete your financial aid file.

Reviewing and accepting your award
Within 2-3 weeks of completing your financial aid file, if you have been admitted to the Monterey Institute, we will e-mail an award letter to the address you provided on your FAFSA.  Review your award carefully. This offer will outline the aid for which you are eligible. Follow the instructions accompanying your award letter to determine the next step in processing your aid.

Complete a Master Promissory Note (MPN)
Shortly after you receive your award letter, you will be contacted by Edfund, the Guarantee Agency for the Monterey Institute, to go to their website to sign the Stafford Loan Master Promissory Note (MPN).  You will be directed to www.edfund.org where you will follow the instructions that are mailed to you.

If you are the recipient of a Federal Perkins Loan, you will also have to sign the Federal Perkins Loan Master Promissory Note.  You will be contacted by the Monterey Institute’s Perkins Loan Servicer; University Accounting Services (UAS) to do so.

Entrance Counseling
If you will be borrowing federal loans, you are required to complete an entrance interview before any funds can be disbursed on your behalf.  This entrance interview will familiarize you with the loan and repayment process.  Just as the MPN, you will be contacted by EdFund directing you to www.edfund.org to complete the entrance interview also known as EDTest.

We will also hold an in-person entrance interview during orientation that you will be required to attend.  However, we ask that you complete the form online beforehand so we can get your loans set up for disbursement prior to orientation.

Again as a reminder, your federal loan will not be disbursed until you have completed this interview.

Funds Arrive

If you have completed all of these steps by their respective deadlines, and you have registered for the number of units you have been packaged for, your financial aid will will be released to the Monterey Institute on your behalf. Upon receipt of the loan funds, we will credit your Monterey Institute student account. The earlier you complete the steps outlined above, the earlier your funds will be available to you. However, please note that no funds can be disbursed to you prior to the first official day of classes. If the amount of financial aid you have been awarded exceeds your student charges, a refund check will be issued to you sometime in the first two weeks of classes for your living expenses. If the total aid you are receiving does not cover your tuition and fees, you will need to make arrangements to pay the balance due at the Cashier's Office.  Payment of tuition and fees is required by 4:00 p.m. on the first day of each semester.