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FAQ

Frequently Asked Questions

The information provided below is for current and potential graduate students interested in filing financial aid.

Is there a deadline date for financial aid?
 

While we process aid on a rolling basis, it is suggested that you have your materials completed and submitted to the Tepper School of Business Financial Aid Office by May 15th to ensure disbursement for the fall semester.

How do I apply for Financial Aid?
 

Log into the Regent student portal for complete instructions.  

How will I be notified of my Financial Aid eligibility? 
 

Once we receive all of your completed financial aid materials (FAFSA and Regent Student Portal information we will then calculate you eligibility and send this information to you in the form of a email.

What federal and private lenders do you suggest? 
 

Please refer to the 2008-09 suggested lenders list.

Is financial aid available to international students?
 

International students are reviewed for merit scholarship. Students who receive merit scholarships are notified in their admission letter. International students may also apply for Private Loans.

How often do I need to apply for financial aid?
 

Please be reminded that you must complete or renew a FAFSA form and submit a Tepper School of Business Financial Aid Application (.doc) for every academic year in which you want to process loan funds.

Where do I get the FAFSA form? 
 

You can apply online at www.fafsa.ed.gov.

What happens if there are errors on my application once it is processed?
 

You can correct many errors on your FAFSA electronically. You can correct things like: your address, grade level, degree pursuit, misreported income and household size, add a college code and more.

What if I lost my federal PIN? 
 

 Go to www.pin.ed.gov to request it again.

What is verification/Why was I selected for verification? 
 

Verification is a random selection process. On average, 33% of all aid applicants each year are chosen. The Financial Aid Office is required to review the household's federal income tax documents and other household info such as untaxed income and household size, to ensure information was reported accurately on the FAFSA.
 

Are there any other Scholarships available other than Merit?
 

Should scholarship opportunities become available, students will be notified via email and/or the Student Intranet. It is suggested that all students search for scholarships independently.
 

How and when do I pay my bill?
 

Enrollment Services/The HUB starts to mail bills for the fall semester in July and the bill is due in August. Spring semester bills are mailed in December and due in January. If you are paying your tuition obligation via student loans and/or scholarship, simply write on your invoice "Pending Student Loans" and return to The HUB. This is only applicable if a combination of Loans and Scholarship will cover the FULL cost of tuition and fees.
 

What is an Entrance Counseling Session? 
 

The Entrance Counseling session is an online tutorial explaining the Federal Stafford and Federal Plus Loan Program, what it means to be a loan borrower, what your rights and responsibilities are as a borrower and how to repay your student loan. There is a short quiz following the tutorial that you must pass to fulfill your entrance requirement. All students who are borrowing for the first time must complete the entrance counseling session.
 

What is a Master Promissory Note? 
 

A Master Promissory Note (MPN) is a legally binding contract between the borrower of a loan and the lender. Once completed, the MPN is valid for up to 10 years (certain restrictions may apply). Other loan programs, such as alternative student loans or the federal perkins loan, have separate promissory note requirements.
 

What is EFC? 
 

EFC stands for Expected Family Contribution and is a measure of your family's financial strength. It is determined through a calculation called Federal Methodology taking into account income, asset and other household information provided on the FAFSA. The EFC is used to determine your eligibility for need-based financial aid (Subsidized Stafford).
 

What if my household circumstance or income has changed? 
 

Sometimes, after filing your FAFSA, you may experience changes in your household income or status. The Financial Aid Office can review special circumstances such as: out-of-pocket medical expenses, or other certain expenses that have weighed on your household income. If you feel you have experienced a circumstance that should be considered, please submit an outline of your additional expenses to the Financial Aid office for further review. Additional financial aid eligibility may occur depending on your individual circumstances, but is not guaranteed.
 

What happens to my financial aid if I do not make academic progress?
 

It is very important for students to realize that the federal government has specific guidelines regarding minimum academic progress. These guidelines are different than the standards that are required by the Tepper School of Business. A student who does not meet the minimum SAP requirements for federal aid may be in jeopardy of losing his or her aid eligibility, including student loans and scholarship.

How can I contact the Financial Aid Office? 
 

Financial Aid Office
Carnegie Mellon University
Tepper School of Business
5000 Forbes Avenue
Tepper Rooms 115/116
Pittsburgh, PA 15213
Phone: (412) 268-1242
Fax: (412) 268-4959
 

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