The key to updating your financial aid and having it ready in a timely manner for the fall semester, is to follow the steps below and meet all deadlines. It is imperative that you follow each step closely.

Step 1 - Filing a FAFSA

If you filed a 2007-2008 FAFSA, you are able to file a 2008-2009 Renewal FAFSA. The Renewal FAFSA will already contain your basic demographic information, requiring you to only update your income and asset information. You are not required to file a Renewal FAFSA. You may complete an entirely new FAFSA for 2008-2009. If you did not file a 2007-2008 FAFSA, you must file new FAFSA for 2008-2009. You may file the FAFSA electronically or on paper.

Electronic Filing

• If you filed a 2007-2008 FAFSA, the federal government will send a PIN number to the address you listed on last year’s FAFSA. Use that PIN number to fill out a 2008-2009 Renewal FAFSA form on-line at http://www.fafsa.ed.gov/. The PIN number will also serve as your electronic signature.
• If you filed a 2007-2008 FAFSA and you have not received your Renewal FAFSA PIN number, you may contact the Department of Education by phone at (800) 4FED-AID (800-433-3243) or via the internet at http://www.pin.ed.gov/ to request that a copy be mailed or emailed to you.
• If you did not file a FAFSA last year, the fastest way to apply is to fill out an entirely new FAFSA application at http://www.fafsa.ed.gov/ and select the 2008-2009 FAFSA. You must either request a PIN number from http://www.pin.ed.gov/ to use as your electronic signature or print and sign the signature page and mail it to federal processor before your application will be processed.

Paper Filing

• If you filed a 2007-2008 paper FAFSA, and received a paper 2008-2009 Renewal FAFSA form in the mail, you may complete that form with the necessary updates and send it back to the federal processor.
• You may also file an entirely new paper 2008-2009 FAFSA form. Blank copies are available in the School of Law Office of Admissions & Financial Aid in Keller Hall or the Office of Scholarships & Financial Aid in Albert Emanuel Hall after January 1.

Your FAFSA takes 2-6 weeks to be processed by the federal processor who then sends the results to the UD Office of Scholarships & Financial Aid. At the same time, you will be sent a Student Aid Report (SAR) that summarizes the information submitted on your application.

It is your responsibility to make sure your FAFSA is complete. You will be notified over the summer from the UD Office of Scholarships & Financial Aid if any additional information is needed to complete your application. If you have an address change, make sure you complete a Student Change of Address Form so we can contact you as soon as possible.

Step 2 - Financial Aid Award Letter

Once the results of your FAFSA are received by the University of Dayton, the Office of Scholarships & Financial Aid will generate your Financial Aid Award letter. These letters will start being distributed May 1st to students whose FAFSA results have been received. The Financial Aid Award letter will show your total financial aid eligibility, including scholarships you may be eligible for as well as loan types and amounts. Note: School of Law grades are usually not available until June, so any scholarships that appear on the letter may be rescinded if original renewal rules are not met.

If you seek to reduce any of the loan amounts or notify the University of Dayton of any additional outside scholarships you have been awarded, make any corrections on your award letter and return a copy to the UD Office of Scholarships & Financial Aid, or you may email sfa.info@udayton.edu or call (800)427-5029. If you have not received your Financial Aid Award letter by July 1st, either the FAFSA results have not been received or additional information needs to be submitted.

Step 3 - Master Promissory Note

If you submitted a Master Promissory Note (MPN) last year, you do not need to complete another one. If your lender does not have a Master Promissory Note on file, you should receive one by July 1st to complete and return. We recommend that you return your signed MPN to your lender by August 1st to ensure that your loan funds will be disbursed for the start of classes.

Step 4 - Alternative Loans

You may go on-line and fill out an alternative loan application once you know your alternative loan eligibility. These loans differ from the Federal Stafford Loan in that your credit history plays an important part in the approval or denial of the loan. For more information and to apply, please visit http://finaid.udayton.edu/ and click on “law” on the left menu where you will find a link to alternative loans such as the Federal Grad PLUS Loan, AccessGroup, and other alternative loan information.

For a credit report you may visit the websites for the following credit reporting agencies: Experian, Equifax and Trans Union Corporation.