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
Complete these steps at StudentLoans.gov:
Step 1. NEW! Complete an online PLUS Request
Step 2. If credit-approved, complete an online Federal Direct PLUS Loan Master Promissory Note (eMPN)
Step 3. Graduate student borrowers must also complete an Entrance Counseling

* Denials—for parent borrowers of a Federal Direct PLUS Loan
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 may be reversed/canceled.

Federal Direct PLUS Loan—Denial Options
A denial of your Federal Direct PLUS Loan application may not be the end of your eligibility to borrow a Federal Direct PLUS Loan. You are able to continue to pursue your eligibility through the following two options:

  1. Resubmit your application with an eligible endorser (co-signer).
    You may add an endorser to your Federal Direct PLUS Loan application. An endorser is someone who does not have an adverse credit history and agrees to repay the loan if primary borrower does not repay it. Please contact the Federal Loan Origination Center at 800.557.7394 for assistance with the endorser process.

  2. Submit a request for an appeal of your PLUS Loan credit decision with the US Department of Education if you believe there are documented extenuating circumstances not reflected in your credit history.

    • Call the Federal Loan Origination Center at 800.557.7394 or
    • Login to StudentLoans.gov
      • Select the Document Extenuating Circumstances link under the PLUS Loan Process section on the menu on the left side of the page.
      • Follow the instructions provided to complete the appeal process.
      • After completing your request for an appeal online, you should receive a call from a representative at the Federal Loan Origination Center within 3 business days to discuss your request. If you do not receive a call, you may contact the Federal Loan Origination Center directly to discuss the status of your request.

Due to federal and state legislation, loan terms, interest rates and conditions are subject to change.

Questions? Contact a SFS Advisor at 312.629.6600 or email us at finaid@saic.edu.

Private Educational Loan (Credit Approval Required)
Re-apply for each loan as needed
Step 1. Determine a Private Lender of your choice. (A list private educational loan provider are available at finaid.org.)
Step 2. Complete required steps as instructed by your lender. An endorser/co-signer is required in most cases.