Loan Counseling
Prospective students must meet with a Financial Aid Representative to receive loan counseling. Financial Aid representatives will counsel you and will answer your questions about the financial aid programs available to you. For more information, contact us today!
FEDERAL STUDENT FINANCIAL AID
All students applying for federal financial aid must file a Free Application for Federal Student Aid (FAFSA). For access to forms and to learn about deadlines please visit www.fafsa.gov. Our school code at EIC is 031226.
Federal Pell Grant
Federal Pell Grants are available to students who have not yet received a bachelor’s degree and unlike loans, do not have to be repaid. The maximum amount received for the 2011-2012 year is $5,550, but amounts will vary depending upon financial need.
For more information on Federal Pell Grants, visit http://studentaid.ed.gov/PORTALSWebApp/students/english/PellGrants.jsp?tab=funding
Federal Stafford Loan (Subsidized and Unsubsidized)
Stafford Loans are low-interest loans available to eligible students to help fund higher education at two- and four-year institutions. Subsidized loans accrue interest while the student is in school which the government pays for, while unsubsidized loans accrue interest while the student is in school which the student pays for.
For detailed information about the differences between these loans, eligibility, interest rates, and the application process visit http://studentaid.ed.gov/PORTALSWebApp/students/english/studentloans.jsp
Parent PLUS Loan Program
If you are considered a dependent student, your parents may apply for a Direct Plus loan to help pay for your education. For information regarding eligibility requirements, go to www.studentloans.gov.
NEW JERSEY STATE FINANCIAL AID
NJ Class Loans
These awards are given to New Jersey state residents who are attending graduate or undergraduate school either in-state or out-of-state. For further information, visit www.hesaa.org/index.php?page=NJCLASSapply
Tuition Aid Grant (TAG)
Nearly one out of three college qualified students in New Jersey receives TAG, and these grants may cover the full cost of tuition. For further information, visit www.hesaa.org/index.php?page=tuition-aid-grant-tag
Completing an Online Direct Loan Master Promissory Note (MPN)
All students who borrower, (both new and continuing students), and choose to accept loans must complete a Direct Loan Master Promissory Note or MPN.
In order to apply online for a Federal Direct Loan, including both Subsidized and Unsubsidized Loans, ALL of the following must apply to you:
- You have been admitted to one of the Eastern International campuses. Campuses
- You have completed the Free Application for Federal Student Aid (FAFSA) and you added Eastern International College’s School Code of 031226 to authorize the release of your FAFSA information.
- The Eastern International College Financial Aid Office has sent you a Financial Aid Award letter
- You were awarded a Direct Subsidized and/or Direct Unsubsidized Loan and have submitted your completed Award Offer with an accepted Direct Loan award to Eastern International College.
- You have completed Direct Loan Entrance Counseling.
If you meet all of the conditions above, you may complete your Direct Loan Master Promissory Note (MPN) online.
The Direct Loan Master Promissory Note website is managed by the U.S. Department of Education.
To complete the Direct Loan MPN you will need the following:
- Your FAFSA PIN. Visit the FSA Pin Registration website at: http://www.pin.ed.gov/PINWebApp/pinindex.jsp, if you do not have a PIN or are unsure if you already have one.
- Your Social Security Number and Birth Date
- Your Driver’s License Number (if you have one), Permanent Address, Telephone Number, and Email Address
- The full name, U.S. address, and telephone number of two personal references who live at different addresses and you have known for at least 3 years. The first reference should be a parent or a legal guardian.
- Go to: https://studentloans.gov/myDirectLoan/index.action to sign your MPN
