How to Apply for Financial Aid at Simpson University

1. Financing Your Education
A guide to applying for financial aid at Simpson University
Last updated Nov. 2010

2. First, File Your FAFSA
What is a FAFSA?
FAFSA stands for Free Application for Federal Student Aid
(you guessed it-it’s a free application for federal student aid).
Why must I File a FAFSA?
All financial aid, federal, state and institutional, is awarded based on what you file.
When should I file?
It is recommended that you file every year before March 2
(this because there are deadlines associated with certain awards).
Do I have to file every year?
YES! Financial aid is awarded annually according to the academic year.
Where do I file?
Glad you asked! Go to this website: http://www.fafsa.ed.gov/

3. How Do I Pay For College?
Student Loans
Surveys show that more than 70% of college students rely on some type of financial aid,
with the majority focusing on federal loans.
Federal Stafford Loans - the most popular type of student loans, Stafford loans are federally-guaranteed, allow
students to borrow directly from the federal government. It’s simple to qualify (loans are not based on income or credit
score).
These loans are also appealing to students because repayment interest rates are low, there are many types of
repayment plans and borrowers are given a six-month grace period to begin repayment from the time school ends.
•Subsidized: the government pays the interest that accrues when a student is in school (4.5% fixed)
•Unsubsidized: the student pays the interest that accrues (6.8% fixed)
•6 month grace period once you complete or withdraw from school
Amounts are available for up to $20,500 per academic year for graduate students
(MA Counseling Psychology bridges 2 academic years)
To learn more about financial aid, student loans or loan repayment options and to use convenient loan calculators
check out this website: www.finaid.org

4. How much aid will I need?
Budgeting for School
Important Information about Student Loans
•Use Loans Wisely! When determining how much of your loan to take, you should consider your
actual cost of attendance (tuition and fees + books + other educational expenses) as well as the
amount that you can contribute to your education.
•Look at the whole picture and only borrow what you need to be successful in school.
•While there are student loans available to you, you are not required to take out the full amount.
•The loan amount you request will be divided in equal amounts over the academic year and disbursed
accordingly. The academic year is Summer / Fall / Spring
•You must maintain enrollment at least half time or your loans will enter repayment.
“Your education is a worthy investment that will increase in value over time”

5. View and Accept
Your Financial Aid Award

6. How do I view my Award?
To View and Accept Your Award:
•Deposit
•Contact your enrollment advisor and submit your $100 advanced tuition deposit. Within 7 business
days after your deposit is processed we’ll mail you a letter with your student account and email
information.
•Set up Your Student Account
•Once you receive your account information you’ll be able to log into your student account and set up
your Simpson email. Once you have been awarded, you can review your award online in your student
WebAdvisor account and accept your loans there. Use the budget you created to accept loans for the
entire year. Remember – the amount requested will be equally divided over the academic year.
•Complete Entrance Counseling and Your Master Promissory Note
•You will need to complete student loan entrance counseling and sign a master promissory note online
at https://studentloans.gov. To do this your will need your PIN that you used to e-sign your FAFSA.
There are two steps. Make sure to do them both!

7. How do I Set Up My
Student Account?
•Gather Materials
•You will need the letter you received from SU that contains your WebAdvisor username
and password. If you have ever been a student at SU, you may need to contact the IT
help desk at 226-4940 to retrieve your password information.
•Login Online
•Visit our website at https://webadvisor.simpsonu.edu
To set up your
Student Account click
“Login” on the upper
right of the screen
To set up your
Student Account click
“Login” on the upper
right of the screen

8. Type in your
Username and
Password
then Submit
Type in your
Username and
Password
then Submit
Choose
Students
(takes you to
your account
options)
Choose
Students
(takes you to
your account
options)
8

9. The financial aid
section is where you
can view your award
letter and request
your loan
The financial aid
section is where you
can view your award
letter and request
your loan
9

10. When you choose to
View your Award
Letter be sure to
select the correct
year
When you choose to
View your Award
Letter be sure to
select the correct
year
If you have
completed your
budget worksheet
and know how much
you need in loans
then
click on the Stafford
Loan Request link
If you have
completed your
budget worksheet
and know how much
you need in loans
then
click on the Stafford
Loan Request link
If you have been awarded
financial aid a screen will appear
that shows your award
You will see the total amount for
the academic year as well as the
break down of how those funds
will apply each semester
If you have been awarded
financial aid a screen will appear
that shows your award
You will see the total amount for
the academic year as well as the
break down of how those funds
will apply each semester
10MMOE 2010

11. Using the numbers from your
budget worksheet – enter in the
total amount of subsidized and
unsubsidized loans that you need
for the academic year
You can refer back to your award
letter for amounts
Using the numbers from your
budget worksheet – enter in the
total amount of subsidized and
unsubsidized loans that you need
for the academic year
You can refer back to your award
letter for amounts
Facts about Stafford Loans:
•Subsidized: the government pays the interest that accrues
when a student is in school (4.5% fixed)
•Unsubsidized: the student pays the interest that accrues
(6.8% fixed)
•6 month grace period once you complete or withdraw from
school
11

12. Once your request has been
submitted, you will see a
confirmation.
Now, go to
https://studentloans.gov
and complete:
Entrance Counseling and a
Master Promissory Note
Once your request has been
submitted, you will see a
confirmation.
Now, go to
https://studentloans.gov
and complete:
Entrance Counseling and a
Master Promissory Note
12

13. Sign in using the
PIN you created to
sign your FAFSA
Sign in using the
PIN you created to
sign your FAFSA
13

14. First, click on
entrance counseling
and answer the
questions about
student loans and
loan repayment
First, click on
entrance counseling
and answer the
questions about
student loans and
loan repayment
Once you have completed entrance counseling you
will need to return to this home page
Once you have completed entrance counseling you
will need to return to this home page
14

15. Next,
Click on “Sign Master
Promissory Note” and
fill out your loan
documents
Use your PIN to sign
your loan documents
electronically
Next,
Click on “Sign Master
Promissory Note” and
fill out your loan
documents
Use your PIN to sign
your loan documents
electronically
Once you’ve completed your master promissory note
you are DONE! (Congratulations!)
You have completed the steps necessary to secure your
financial aid for this academic year
Once you’ve completed your master promissory note
you are DONE! (Congratulations!)
You have completed the steps necessary to secure your
financial aid for this academic year
15

16. What Happens Next?
Loan Documents and Confirmation
•You will receive copies of your loan documents in the mail. You will also receive notice when your funds are
dispersed to the school.
Funds Disbursement
•Your financial aid will automatically be sent to Simpson University Student Financial Services and be applied to your
account.
•If you have requested aid that exceeds the cost of tuition and fees for the semester and there is a credit on your
account you will receive a check from us about 2-3 weeks after the start of the semester.
•Checks can ONLY be issued when all financial aid has arrived at the university – pending financial aid cannot be
disbursed.
**Financial aid credit disbursements in the summer semester will be delayed until middle or late summer due to
federal and state budget cycles. Please make sure you make note of this and plan accordingly.
Using Financial Aid to Buy Your Books
•If you have requested financial aid that exceeds the cost of tuition and fees and there is a credit pending on your
student account, you can visit the Student Financial Services office the week before class and request a credit
voucher. This voucher can be used to purchase books in the Simpson University bookstore. The amount you spend
in the bookstore will be charged to your student account and deducted from any credit on your account prior to
disbursement.

17. Contact Information
Have Questions about Your Financial Aid?
You Can:
Check our Website for information at
http://www.simpsonu.edu/Pages/About/Financial/FinancialAid.htm
Or contact the office of student financial services at
(530) 226-4621
financialaid@simpsonu.edu
Please note - If you call – please leave a message! Our counselors are on the
phone serving other students throughout the day and will return all phone calls
within 48 hours. Thank you!