Prospective Students
Steps to Receiving Your Financial Aid
Step 1: Complete Financial Aid Paperwork
Step 2: Review your Award Letter
Step 3: Complete Loan Requirements
Step 4: Requirements before Disbursement
Step 5: Monitor your Disbursements
Step 1: Complete Financial Aid Paperwork
Use code E00428 for Villanova Law School. Applications for 2013-2014 will be available after January 1, 2013.
Applicants interested in being considered for specific institutional support and some of our need-sensitive scholarships must also file Access Group’s Need Access Application. Note: You will be required to provide parental information. Applications for 2013-2014 will be available after January 1, 2013.
All applicants to Villanova Law School are automatically considered for merit-based scholarships. Your initial application to the Law School automatically serves as an application; the one exception to this process is the Public Interest Scholars Program, which does require a separate application. Merit-based scholarships are awarded starting in January and all the way through March; admitted students may be evaluated and reevaluated for scholarships at any point during this period.
Step 2: Review Award Letter
After you have been accepted, an initial review of your processed FAFSA and Need Access data (if applicable) will take place and the Office of Financial Aid will prepare an Estimated Award Letter. This letter will outline the types and amount of financial aid that you may receive and it will also provide you with information for completing any additional requirements that may need to be satisfied before your loans can disburse. You will be notified by email when your award letter is ready to view. Award letters are accessed via Villanova Law School’s secure site known as Novasis.
Step 3: Complete Loan Requirements
If you plan to borrow either the Federal Direct Stafford Loan or Federal Direct Graduate PLUS Loan, you must complete all of the following before any loans can disburse. All these items can be completed online at www.studentloans.gov ; you will need your FAFSA pin to access this site
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Master Promissory Notes – Click on Sign Master Promissory Note. Complete a Master Promissory Note for the Federal Direct Stafford Loan. The maximum Stafford Loan eligibility per academic year is $20,500 (refer to your Estimated Award Letter for your eligibility). If you need to borrow federal funds in excess of this amount and wish to borrow the Federal Direct Graduate PLUS loan, you must also complete a separate Master Promissory Note for that loan. Both of these promissory notes need only be completed once for the duration of time you will be enrolled at Villanova Law School.
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Federal Direct Graduate PLUS Loan Application – Click on Complete PLUS Request Process. In addition to the Master Promissory Note for the Federal Direct Graduate PLUS Loan, you must also complete an application for this loan. Make sure to include the amount you wish to borrow; refer to your Estimated Award Letter for your eligibility.
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Entrance Counseling – Click on Entrance Counseling. All first time borrowers for either the Federal Direct Unsubsidized Stafford and the Federal Direct Graduate PLUS Loan at Villanova Law School must complete the Entrance Counseling requirement before any loans can disburse. This need only be completed once for the duration of time you will be enrolled at Villanova Law School.
Step 4: Requirements before Disbursement
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Cash Management Authorization Statement
– All first time borrowers for federal loans must complete the Cash Management Authorization Statement before any loans can disburse. We are required to obtain your permission to use Federal Title IV funds to pay for educationally related charges other than tuition and fees. These other charges can include, but are not limited to, items such as parking fees and health insurance fees. This authorization will remain in force for as long as you are enrolled at Villanova Law School but can be cancelled or modified at any time with written notice to the Office of Financial Aid. You can complete the Cash Management Authorization Statement electronically by signing into Novasis and accessing Financial Aid and then My Law School Award Information.
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Direct Deposit - Any money that has been received on your behalf that exceeds charges on your account can be refunded either by paper check or by direct deposit. It is recommended that you sign up for direct deposit in order for you to receive your refund in a more timely and efficient manner. For more information and instructions on how to sign up for direct deposit, please visit the Bursar’s Office at e-Refund page.
Step 5: Monitor your Disbursements
After your loans have been processed, the Office of Financial Aid will prepare a Revised Award Letter to reflect any loans that have been processed for you. You will be notified via email that you can view your Revised Award Letter by signing into Novasis. If you completed all of the above steps in a timely manner, then your funds will disburse to your student account at the Bursar’s Office no earlier than 10 days before the first day of classes each semester.
If you have funds in excess of your charges, the Bursar’s Office will issue you a refund check or deposit the funds directly into your bank account if you set up direct deposit. You will be notified via email when your refund is available to you, which will be approximately 2-5 business days after your loans have been disbursed to your student account. The time frame for disbursing loan funds and receiving refunds cannot be changed; therefore, it is recommended that you be prepared for any expenses you may incur before your refund becomes available such as: moving expense, rental deposits, etc.
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If you are accepted into the Graduate Tax program and are enrolled at least half-time and meet other eligibility criteria, then you can be reviewed for financial aid. Four credits are usually required to be considered half-time and six or more credits are considered full-time status.
Your financial aid package will be based on the number of credits taken and how many semesters you will be enrolled. If you drop or add classes after your eligibility has been determined, adjustments will be made to your loans amounts.
Step 1: Complete Financial Aid Paperwork
Step 2: Review and Return your Award Letter
Step 3: Complete Loan Requirements
Step 4: Disbursement Requirements
Step 5: Monitor your Disbursements
Step 1: Complete Financial Aid Paperwork
Step 2: Review and Return your Award Letter
The Office of Financial Aid will review your processed FAFSA and your Villanova Law School Financial Aid Application (additional information or documentation may be requested as a result of the review). Once the review process is complete, an Estimated Award Letter will be prepared. This letter will outline the types and amount of financial aid that you may receive and it will also provide you with information for completing any additional requirements that may need to be satisfied before your loans can disburse. You will be notified by email when your award letter is ready to view. Award letters are accessed via Villanova Law School’s secure site known as Novasis.
Step 3: Complete Loan Requirements
If you plan to borrow either the Federal Direct Stafford Loan or Federal Direct Graduate PLUS Loan, you must complete all of the following before any loans can disburse (Note: final approval of all federal loans is determined by the Department of Education). The following requirements can all be completed online at www.studentloans.gov (you will need your FAFSA pin to access this site):
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Master Promissory Notes (Only needs to be done once for each loan type for the duration of time you will be enrolled at Villanova Law School).
Click on
Sign Master Promissory Note at
www.studentloans.gov to complete a Master Promissory Note for the Federal Direct Stafford Loan. The maximum Stafford Loan eligibility per academic year is $20,500 (refer to your Estimated Award Letter for your eligibility). If you have remaining eligibility and need to borrow federal funds in excess of this amount and wish to borrow the Federal Direct Graduate PLUS loan, you must also complete a separate Master Promissory Note for that loan.
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Federal Direct Graduate PLUS Loan Application
Click on
Complete PLUS Request Process at
www.studentloans.gov to apply for the Federal Direct Graduate PLUS Loan. This must be done each time you apply for the Graduate PLUS loan. Make sure to include the amount you wish to borrow; refer to your Estimated Award Letter for your eligibility.
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Entrance Counseling - (Only needs to be done once for the duration of time you will be enrolled at Villanova Law School).
Click on
Entrance Counseling at
www.studentloans.gov to complete the Entrance Counseling requirement. All first time borrowers for either the Federal Direct Unsubsidized Stafford or the Federal Direct Graduate PLUS Loan at Villanova Law School must complete the Entrance Counseling requirement before any loans can disburse.
Step 4: Disbursement Requirements
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Cash Management Authorization Statement – (Only needs to be done once for the duration of time you will be enrolled at Villanova Law School).
All first time borrowers for federal loans must complete the Cash Management Authorization Statement before any loans can disburse. We are required to obtain your permission to use Federal Title IV funds to pay for educationally related charges other than tuition and fees. These other charges can include, but are not limited to, items such as parking fees and health insurance fees. This authorization will remain in force for as long as you are enrolled at Villanova Law School but can be cancelled or modified at any time with written notice to the Office of Financial Aid. You can complete the Cash Management Authorization Statement electronically by signing into
Novasis and accessing
Financial Aid and then My
Law School Award Information.
-
Direct Deposit
Any money that has been received on your behalf that exceeds charges on your account can be refunded either by paper check or by direct deposit. It is recommended that you sign up for direct deposit in order for you to receive your refund in a more timely and efficient manner. For more information and instructions on how to sign up for direct deposit, please visit the Bursar’s Office at
e-Refund page.
Step 5: Monitor your Disbursements
After your loans have been processed, the Office of Financial Aid will notify you via email that you can view your Revised Award Letter by signing into Novasis. If you completed all of the above steps in a timely manner, then your funds will disburse to your student account at the Bursar’s Office no earlier than 10 days before the first day of classes each semester.
If you have funds in excess of your expenses, the Bursar’s Office will issue you a refund check or deposit the funds directly into your bank account if you set up direct deposit through Novasis. You will be notified via email when your refund is available to you, which will be approximately 2-5 business days after your loans have been disbursed to your student account. The time frame for disbursing loan funds and receiving refunds cannot be changed; therefore, it is recommended that you be prepared for any expenses you may incur before your refund becomes available such as: moving expense, rental deposits, etc.
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Students who are not U.S. citizens are not eligible to receive federal student aid. If you do not meet the eligibility criteria for federal student aid, then it may be possible for you to borrow a private loan provided a U.S. citizen or permanent resident is willing to co-sign the loan. Complete the following steps to be certified for a private loan:
Step 1: Complete Financial Aid Paperwork
Step 2: Review and Return your Estimated Award Letter
Step 3: Complete Loan Paperwork
Step 4: Monitor your Disbursements
Step 1: Complete Financial Aid Paperwork
Villanova Law School International Student Aid Application along with a valid I-20 form and a copy of your I-94 card.
Step 2: Review and Return your Award Letter
The Office of Financial Aid will review your completed file (additional information or documentation may be requested as a result of this review). Once the review process is complete, an Estimated Award Letter will be prepared for you. You will be notified via email when your award letter is ready to view. Award letters are accessed via Villanova Law School’s secure site known as Novasis.
Step 3: Complete Loan Paperwork
Choose a lender for your private loan and apply and complete loan paperwork with that lender. The lender will determine your eligibility for the loan. After you have been approved for a loan, the lender will send the Office of Financial Aid a school certification form to complete. Your loan will be certified by our office once Step 1 & 2 is completed. Please be aware that the terms and conditions for private loans may vary from lender to lender, but with most you will be required to have an eligible U.S. cosigner.
Step 4: Monitor your Disbursements
After your loans have been processed, the Office of Financial Aid will prepare a Revised Award Letter. You will be notified via email that you can view your Revised Award Letter by signing into Novasis. If you completed all of the above steps in a timely manner, then your funds will disburse to your student account at the Bursar’s Office no earlier than 10 days before the first day of classes each semester.
If you have funds in excess of your expenses, the Bursar’s Office will issue you a refund check or deposit the funds directly into your bank account if you set up direct deposit through Novasis. You will be notified via email when your refund is available to you, which will be approximately 2-5 business days after your loans have been disbursed to your student account. It is recommended that you be prepared for any expenses you may incur before your refund becomes available such as: moving expense, rental deposits, etc.
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