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Office of FINANCIAL SERVICES

How to Apply for US Financial Aid

1. Lodge your FAFSA online application form to obtain your Full Student Aid Report or Summary Student Aid Report (SAR).

To be considered for financial aid, you must complete a Free Application for Federal Student Aid (FAFSA). You can apply online at www.fafsa.ed.gov. We strongly recommend that you to submit the FAFSA application online to speed up your process.

As part of FAFSA completion, you must supply the school code for Macquarie University. The federal school code that you should be using is G10681 . If you are required to provide the school’s OPE ID, Macquarie University’s OPE ID is 01068100.

You need to submit the relevant FAFSA, for example: If you are applying for courses starting in the first half 2017, you need to do a renewal on the 2016/17 FAFSA. Students with courses starting in the second half of 2017 should submit 2017/18 FAFSA instead.

On completion of the FAFSA, you will receive a Student Aid Report (SAR) either electronically or in hardcopy (or both). This document lists the information you and your family have provided and tells you what your Expected Family Contribution (EFC) is for the year you are applying. You may be advised that the Financial Aid Office automatically receives this information in an electronic format. Unfortunately, this is not the process for institutions outside USA.You will be required to provide a copy of your Student Aid Report, then submit the documents to Macquarie University Financial Aid office. Please note that it is essential for you to submit this document in order for your financial aid application to be processed.

2. Submit the online Master Promissory Note (and if applicable, PLUS MPN) and forward a copy of the MPN(s) to Macquarie University.

A Master Promissory Note is the binding legal document that must be signed by the student borrower before loan funds are disbursed by the lender. The promissory note states the terms and conditions of the loan, including repayment schedule, interest rate, deferment policy and cancellations. The student should keep this document until the loan has been repaid. You must complete a new electronic MPN (and/or PLUS MPN) at every loan renewal (usually once a calendar year). Note: For a dependent undergraduate student applying for PLUS loan, the parent (or legal guardian) of the student has to complete the electronic PLUS MPN.

You can complete and electronically sign the MPN online at https://studentloans.gov . Please need to keep a copy of the MPN for your own record.

3. Complete Macquarie University Application for Financial Aid form. You can download a copy of the form here.

The University’s application form is required to inform the Financial Aid Administrator of any other grant/scholarship or aid that you have been awarded either from private or public institutions, and other information, such as your study mode and your citizenship status. Failure to disclose the information may result in the cancellation of your loan or an over-award that you may be required to repay immediately. Note: You must complete a new form at every loan renewal, or if specifically requested for the loan purpose.

4. Complete the entrance counselling online and submit the evidence of Entrance Counselling.

As part of the requirement in administration of US Financial Aid, the students are required to complete loan “Entrance Counseling” at the appropriate grade level (undergraduate or graduate) prior to the initial application of any US Federal loan funds. Please note that graduate students who plan to utilize both Stafford and Grad-PLUS loans must complete the Combined Subsidized/Unsubsidized with Graduate-PLUS Entrance Counselling session (instead of the Subsidized/Unsubsidized only session).

You can complete the online entrance counseling at https://studentloans.gov . Please print out the evidence of entrance counseling and submit it with your financial aid application.

An Exit Counseling is required at the last period of the course or as soon as a borrower drops below half-time enrolment. The Exit counseling can be completed at https://www.nslds.ed.gov/ .

Note: The US regulation requires you to do Entrance Counselling at the beginning of your course, and Exit Counselling in the last study period of your course or as soon as a borrower drops below half-time enrolment. The completion evidence of these counseling sessions must be provided to the school/University. Failure to do so may affect your eligibility for future funding and/or repayment conditions.

5. Provide a copy of your Macquarie University Course Letter of Offer.

6. Submit all the documents to:

Financial Aid Administrator

Macquarie International

Level 1, E3A Building

10 Macquarie Walk

MACQUARIE UNIVERSITY

NSW 2109

AUSTRALIA

Phone: +61-2-9850-6934

Email: financialaid@mq.edu.au

 

Summary of required application documents to be submitted:

  1. Student Aid Report (FAFSA Report)
  2. Copy of Subsidized/Unsubsidized Master of Promissory Note and/or PLUS MPN
  3. Macquarie University ’s Financial Aid application form (PDF).
  4. Print-out of Entrance Counselling completion
  5. Copy of your Macquarie University Course Letter of Offer.
  6. Disbursement form (can be submitted after loans approval)

Once your application is processed and eligibility determined, a Financial aid award offer letter will be issued, of which, its acceptance form must be returned to the University to enable origination of the loans and their disbursement processing. Please note that approvals for Direct-PLUS loans are subject to approval on credit check, which will only be known once the loan is processed online.

Students need to re-apply for Direct Loans for each new calendar year. This means that if you are commencing in Semester 2, the initial assessment will be for a six (6) month period only.
 

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Summary of required documents to be submitted: