Sample Promissory Note - School Of Education: Fill & Download for Free

This question is unclear. Are you trying to get financial aid at the undergraduate or MBA level? Are you asking what schooling and experience MBA programs expect to see in their candidates?Each and every US school is different. You need to go to their websites and catalogs to find out the answer.Here’s the 2018 FAFSA deadlines: https://fafsa.ed.gov/fotw1819/pdf/Deadlines.pdfBut note, that every school may have different deadlines. In general, FAFSA applications open up October 1 the year before you want the money. The sooner you apply, the more likely you are to be awarded aid. So, for aid in fall 2018, the earliest you can apply is October 1, 2017.Here’s a sample financial aid answer from MBA program Haas Graduate School of Business in Berkeley, California:Federal Direct Unsubsidized Loans are non-need based loans. The annual limit is $20,500 per academic year. All students who meet general eligibility requirements may qualify for Federal Direct Unsubsidized Loans. Interest accrues at disbursement on the portion that is disbursed. The interest that accrues is not compounded or capitalized during periods of enrollment; the accrued interest is capitalized just prior to entering repayment.Interest Rate: 6% fixed interest rate for loans disbursing on or after July 1, 2017Origination Fees: 1.066% fee taken at disbursement for loans disbursing after October 1, 2017Health professional students in the MBA/MPH program, are eligible for unsubsidized loans up to $33,000.Federal Direct Grad PLUS Loans are non-need based loans. Grad PLUS Loans are credit-based loans which require a credit check. To be eligible for a Grad PLUS loan you must meet the other general eligibility requirements for the Federal Student Aid Programs, and must not have an adverse credit history (i.e. no more than 90 days late on any debt, no bankruptcies or tax liens within the past 5 years, and no defaults or adverse actions on any prior education debt). Students can borrow a Grad PLUS Loan up to the remaining total Cost of Attendance each year, minus any other expected financial aid. The definition of "adverse credit" for the Grad PLUS Loan is defined in detail on the FAQ section of the FSA (Federal Student Aid) website.Interest Rate: 7% fixed interest rate for loans disbursing on or after July 1, 2017Origination Fees: 4.264% fee taken at disbursement for loans disbursing after October 1, 2017How to ApplyFirst, obtain a Federal Student Aid ID (FSA ID) to file your FAFSA. This FSA ID is also used to sign your Master Promissory Notes and access your loan accounts online. Keep the FSA ID, even after graduation. It will facilitate loan repayment and monitor your loan balance. Visit StudentAid.gov/fsaid for more information.To request federal loans, you must file a Free Application for Federal Student Aid (FAFSA). Our school code is 001312. The FAFSA must be filed each academic year that you wish to receive federal loans--you will not be offered a loan until the FAFSA for the applicable year has been filed. Although the FAFSA must be filed each year, the supplemental steps of Master Promissory Note (MPN) and Entrance Counseling only need to be completed once while at Haas.The loans must be paid back beginning six months after graduation or dropping below half-time attendance. The standard repayment term for the loans is 10 years.Application Process for Federal LoansFile a Free Application for Federal Student Aid (FAFSA) at http://www.fafsa.ed.gov [annually]If the UC Berkeley Financial Aid Office requests it, submit additional documentation [contact Haas Financial Aid]Once you have a UC CalNet ID and passphrase and have received your Financial Award Notification (beginning in June), accept your awards on CalCentral.Complete the Direct Loan Master Promissory Note (MPN) for Direct Loans [just the first year you borrow]Complete the Graduate PLUS Master Promissory Note (MPN) if you also wish to borrow this loan [just the first year you borrow]Complete the Federal Loan online Entrance Counseling [just the first year you borrow]Sign up for Electronic Funds Transfer (EFT) to more quickly receive loan funds borrowed beyond billable costs at http://eftstudent.berkeley.edu [just the first year you borrow]Federal Loan EligibilityGeneral Eligibility Requirements:In order to be eligible for any of the federal loan programs, you must meet the following requirements:You must be a U.S. Citizen, U.S. Permanent Resident or eligible non-citizenYou must have a valid Social Security NumberYou must be enrolled at least half-time for the semester (6 units)You must not be in default on a federal educational loan and not owe a refund on a federal grantYou must maintain Satisfactory Academic ProgressIf male, you must be registered with the Selective Service or obtain a waiver from the Selective Service Office