After You Apply
After You Apply
Correct Your FAFSA
After you file, you’ll be prompted to log in to the FAFSA website to review your application and make any necessary corrections.
This is important: The most common mistakes made by students filing a FAFSA include transposing numbers, adding too many or too few zeroes, or swapping personal income with parent income. Your FAFSA will be processed with whatever information you provide, so make sure the information you provide is accurate!
We will notify you if FAFSA was unable to process your application. A common processing error occurs when students forget to have their parent electronically sign the application with his or her parent FSA ID.
Please note that your FAFSA information should not be modified or updated based on how your bank account fluctuates.
Review Your Award
Once your financial aid eligibility has been determined and you’ve been packaged with aid, we’ll inform you right away.
If you’re an incoming freshman, we’ll send you a paper award letter beginning in mid-March. Take a look at this example award letter to see what you can expect.
Current students, we’ll notify you with an email in late May or early June, and direct you to the Self-Service tab in One.IU. That’s where you’ll find convenient and confidential access to your financial aid summary, which will house your most current award information.
This is important: Financial aid awards are subject to revision based on federal, state and institutional regulations, funding, changes in enrollment, financial aid or the receipt of other awards. If you receive additional funding after your award package has been assembled and it causes your aid total to exceed your Cost of Attendance (COA), your award package is subject to change. Remember, your package can never be greater than your COA.
You can read more about how aid is credited to your account in Manage Your Aid.
Sign Promissory Note
If you are borrowing a Federal Direct Loan for the first time at IU Bloomington, you will need to e-sign a Master Promissory Note (MPN) before loan funds will be credited to your bursar account. An MPN is a document saying you promise to repay your federal loans.
This is important: If you don't sign the promissory note within 60 days, we may cancel the loan.
To sign your MPN, you’ll need:
- Your FSA ID that you created to complete your FAFSA
- Your Social Security number
- Your driver's license number
- Your permanent address and telephone number
- Information for two references, including their addresses and telephone numbers
After you log in to your direct loan account, select the “Complete MPN” link. Follow the instructions to complete, sign and submit your Master Promissory Note.
Entrance counseling is a tutorial that will help you become more informed about the loans you’re borrowing and the options you have available once you go into repayment.
This is important: In addition to signing your MPN, you’ll need to complete entrance counseling before loan funds will be credited to your account.
After you log in to your direct loan account, select the “Entrance Counseling” link. After you select whether you’re an undergraduate or graduate student, you’ll have access to the tutorial.
Federal Perkins Loans
If you are borrowing a Federal Perkins Loan, you will need to e-sign a new promissory note each academic year. This is different than the Direct MPN. The note must be signed before loan funds can be disbursed.