Federal Loans (Title IV Funds)
Students admitted into a Masters program may apply for federal student loans by completing the following steps. These steps need to be done EVERY YEAR.
Steps to Apply for Federal Loans
1. Complete the FAFSA (Federal School Code: G01736).
2. Register for the entire academic year. You must be enrolled at least half time for the entire academic year. MDiv and MACM students must be enrolled in at least 6 credits per term to be considered full time. All MA cohort students are considered full time if they enroll in the required course sequence for their program for the year. Contact your advisor before completing the FAFSA if you are uncertain about whether you are part time of full time.
3. For new Northern Students ONLY, complete the Federal Aid Registration.
4. Sign a Master Promissory Note (MPN) at studentloans.gov. Students who do not have a Master Promissory Note (MPN) on file with the government must sign their MPN for Unsubsidized Loans.
5. Complete the Title IV Student Loan Disbursement Agreement Form. Your loan funds automatically pay your tuition and fees. The funds can then be used to pay other account items, but you must give us permission to do so by selecting them on this form.
After completing steps 1 – 6, you will receive information by email regarding your loan award. Any loan disbursement date given is an estimated date. Your loan disbursement will be reflected on the student portal. Please call Northern Seminary’s Federal Aid Office at 630.620.2188 with any questions.
www.studentloans.gov – This website is a source of information from the U.S. Department of Education on how to manage your student loans.