Welcome to Student Financial Services – Financial Aid

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The primary purpose of Siena Heights University’s Student Financial Services РFinancial Aid program is to provide assistance to accepted students who, without such aid, would be unable to attend Siena Heights University.

We understand that the Financial Aid process at times can be confusing, but our Student Financial Services – Financial Aid Team is here to help you. You can contact them with a phone call, email, or just stop by at the Patricia A. Erickson Enrollment & Welcome Center Room 143.

Glossary of Financial Aid Terms

This link will take you to Federal Student Aid site, with a list of terms and definitions related to student aid.

Glossary

Initial Process for Financial Aid

New students must apply for admissions and be accepted into Siena Heights University as a student seeking a degree. Once accepted to Siena Heights University the next step is to fill out your Free Application for Federal Student Aid (FAFSA) form.

FAFSA Form

We recommend that you create your StudentAid.gov account a couple of days before starting your FAFSA form. You must enter your name and Social Security Number (SSN) exactly as they appear on your Social Security Card.

This year on the 2024-2025 FASFA form, every contributor who provides information on the FAFSA form needs a StudentAid.gov account before accessing and completing their section of the online form.

To start the online 2024-2025 FAFSA form, select “Start New Form.” You will be taken to the “Log In” page to enter your account username and password. After logging into the portal, you will be given the option to select your role to fill out the FAFSA form; “Student” or “Parent.” If a parent wants to start their dependent child’s FAFSA form, they should select the “Parent” option.

Siena Heights University School Code

You can list up to 10 college or career schools on your FAFSA form. Each school listed will receive an electronic copy of your Student Aid Report (SAR), and you will also receive an updated copy.

Siena Heights University School Code is 002316

Was Your FAFSA Processed?

For the 2024-2025 form, the status of your application will be one of the following:

  • DRAFT – Your selection of the FAFSA form is incomplete.
  • IN PROGRESS – Your provided consent, approval, and signature to your section of the FAFSA form, but the FAFSA form has not been submitted.
  • IN REVIEW – The FAFSA form was submitted but not processed yet.
  • ACTION REQUIRED – You are missing some information, and corrections are required.
  • PROCESSED – Your application was process successfully. No further action is required.
  • CLOSED – Your FAFSA corm was never submitted and can no longer be submitted because the deadline has passed.
Financial Aid Eligibility

To receive federal student aid, you must meet certain requirements. You must:

  • Be a U.S. Citizen or eligible noncitizen.
  • Have a valid Social Security Number.
  • Be registered with Selective Service if you are male and between the ages of 18 to 25 years of age.
  • Have a high school diploma or a General Education Development (GED) Certificate.
  • Be enrolled or accepted for enrollment as a regular student working toward a degree or certificate in an eligible program at a school that participates in the federal student aid program.
  • Not have a drug conviction for an offense that occurred while you were receiving federal aid (such as grants, loans, or work-study).

Note: You must not owe a refund on a federal grant, be in default on a federal student loan and you must demonstrate financial need (except for unsubsidized loans).

FAFSA Submission Summary

How do you view your online FAFSA Submission Summary?

To view your online FAFSA Submission Summary by:

  • Logging in using your account username and password,
  • Navigating to your account Dashboard,
  • Selecting your processed FAFSA Submission, and
  • Selecting “View FAFSA Submission Summary.”
Loan Steps

Federal student loans are made by the government, with conditions and terms that are set by law.

Private loans are made by private organizations such as banks, credit unions, and other organizations.

Entrance Counseling

Entrance counseling ensures that you understand the terms and the conditions of your loan(s) and your rights and responsibilities. The Entrance Counseling will show you what a loan is, how interest works, your options for repayment and how to avoid delinquency and default.

Who should complete this – Students

How long will it take – 30 minutes and must be done in a single session.

What do I need – Verified StudentAid.gov account, School Name(s), Financial Aid Offer, School Tuition and Fees

When you are finished, a record of your completion will be sent to the schools that you selected on your FAFSA form, and you can receive loan money. Please keep in mind that you cannot save and leave an incomplete session; you must complete the entrance counseling in one session.

Master Promissory Note (MPN) for Undergraduates

The Master Promissory Note (MPN) is a legal document where you promise to repay your loan(s) and any interest accrued and fees to the U.S. Department of Education. It will explain the terms and conditions of your loan(s).

You may receive more than one loan under an MPN over a period of up to 10 years to pay for your or your child’s education costs, as long as the school is authorized to use the MPN in this way and chooses to do so.

Annual Student Loan Acknowledgment

Siena Heights University recommends that you complete an Annual Student Loan Acknowledgment every year that you accept a new federal student loan.

If this is your first time accepting a federal student loan, you are acknowledging that you understand your responsibility to repay your loan.

If you have an existing federal student loan, you are acknowledging that you understand how much you owe and how much more you are eligible to borrow.

PLUS Loan Applications

PLUS CREDIT COUNSELING

PLUS Credit Counseling is required if the U.S. Department of Education has informed you that you have an adverse credit history and you have obtained an endorser or documented to the satisfaction of the U.S. Department of Education.

PLUS LOAN

A PLUS Loan is federal loans that parents of dependent undergraduate students and graduate or professional student can use to help pay for college or career school. It can help pay for educational expenses that are not covered by other financial aid. The lender is the U.S. Department of Education, the maximum loan amount is that equal to the cost of attendance minus any other financial aid received, and you must not have an adverse credit history.

Exit Counseling

You must complete the exit counseling when you leave school or drop below half-time enrollment. The purpose of the exit counseling is to make sure that you understand your student loan obligations and are prepared for repayment of your loans.

Those that need to do the exit counseling are Student federal loan borrowers who are leaving school, graduating or dropping below half-time. This will take about 30 minutes, and will need your StudentAid.gov account, and school name.

This link will take you to the Direct Loan Exit Counseling Guide for borrowers of Direct Loans and Federal Family Education Program Loans.