Priority Deadline for Student Loans

Fall–Spring July 1
Summer May 1

Do you have these loans on your award letter? If so and you plan to borrow through these loan programs, borrowers need to complete the following steps by the deadlines listed above.

In most cases, loans are awarded for summer semester (May-August) and Fall-Spring (August-May). These semesters and dates should be used when asked for a loan period (typically, Federal Direct PLUS and Private) during the application process.

Federal Direct Stafford
Typically, you need complete these one time only at SAIC
Do these three steps at StudentLoans.gov:
Step 1. Entrance Counseling session
Step 2. Federal Direct Stafford Master Promissory Note (eMPN)
Step 3. Financial Aid Awareness Counseling 

Federal Perkins
Typically, you need complete these one time only at SAIC
Step 1. Federal Perkins online entrance counseling session at mappingyourfuture.org.
Step 2. Federal Perkins Master Promissory Note (eMPN) in SAIC Self-Service.
  Go to View Financial Aid > Award Summary > Sign Perkins eMPN

Federal Direct Plus* (Credit Approval Required)
Re-apply for each loan as needed by completing step 1 only
Step 1. SAIC PLUS Request Form provided in your financial aid award packet or at saic.edu/faforms.
Step 2. Federal Direct PLUS Loan Master Promissory Note (eMPN) at StudentLoans.gov.
Step 3. Graduate student borrowers must also complete an Entrance Counseling at StudentLoans.gov.

Private (Credit Approval Required)
Re-apply for each loan as needed
Step 1. Determine a Private Lender of your choice.
Step 2. Complete required steps as instructed by your lender. A co-signer is required in most cases.

* Denials—parent borrowers of a Federal Direct Plus
Per federal regulations, if a parents of a dependent undergraduate student is denied a Federal Direct PLUS loan due to adverse credit history, SAIC will automatically award additional Federal Direct Unsubsidized Stafford Loan (up to $4,000 for freshmen/sophomores or up to $5,000 for juniors/seniors) to the student. The parent borrower may choose to appeal the credit decision with the Department of Education or pursue a credit-worthy endorser. If the Federal Direct PLUS loan is then approved, the additional Federal Direct Unsubsidized Stafford Loan will be reversed/cancelled.

Borrowers that have been denied a Federal Direct PLUS loan may find the document below helpful in considering their options.

Federal Direct PLUS Loan Denial Options [PDF]