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 Grant
Federal Pell Grants are available to students who show financial need and have not yet earned a bachelor’s degree or higher, in addition to other eligibility criteria. Unlike loans, grants are “gift aid” that do not have to be repaid. The maximum amount received for the 2019-20 award year is $6,195, but amounts will vary depending upon financial need. For more information on Federal Pell Grants see Federal Pell Grants.
Federal Direct Loan (Subsidized and Unsubsidized)
Federal Direct Stafford Loans are low-interest loans available to eligible students following submission of the FAFSA. Both Subsidized and Unsubsidized loan Subsidized loans accrue interest, however the government pays the interest accrued while in school for eligible Subsidized loans (see Subsidized Loan Time Limitation for additional details on Subsidized limitations). Students must be enrolled at least half-time to borrow Federal Direct Stafford Loans.
Students electing to take the Federal student loan at the College complete loan counseling online at www.studentloans.gov. before borrowing and prior to graduation. Financial Aid Representatives are available for any questions regarding the financial programs available.
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 https://studentaid.ed.gov/sa/sites/default/files/direct-loan-basics-parents.pdf.
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.
- 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 www.studentloans.gov.
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:
- To create or reset your FSAID Username and Password, visit https://fsaid.ed.gov/npas/index.htm
- Your Social Security Number and Date of Birth
- Your Driver’s License Number (if applicable), 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.
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 http://www.hesaa.org/Documents/TAG_program.pdf
- Have a high school diploma or recognized equivalent
- Demonstrate financial need
- Students must be citizens, eligible non-citizens, or eligible to file the NJ Alternative Financial Aid Application
- Be a resident of New Jersey for at least 12 consecutive months immediately prior to enrollment
- Be registered with Selective Service (if required)
- Maintain satisfactory academic progress
- Be a full-time undergraduate student enrolled in an approved degree or certificate program
Your are not eligible if:
- You have a bachelor degree or associate degree (if enrolled in a 2 year program)
- You received the maximum allowable number of grant payments
- You owe a refund of a Federal or State grant
- You are in default on a Federal or State loan
- You are enrolled in a program leading to a degree in theology or divinity
To estimate your Tuition Aid Grant (TAG) eligibility, use the TAG Estimator at https://www.hesaa.org/tagestimator/current/studentstatus.asp