HOW TO APPLY FOR FINANCIAL AID
Financial Aid at Eastern International College
The financial aid application information as listed below is to ease students in applying for funding. Students should make every effort to submit these applications to avoid any delay in receiving the term Award Offer, and to better understand the application process. Representatives from the Financial Aid Office are available to assist in these applications. Please note that there is a three (3) day processing delay after application submission before the College will be able to see your eligibility for all applications submitted off-site.
Apply for a Federal Student Aid ID (FSAID)
All parties entering information on the Federal Student Aid applications will be required to create a User ID and Password to be used for retrieving and signing official aid documents. These log-on credentials must be kept private as it acts as a signature on secure documents and should not be shared. Do this before your Financial Aid Enrollment appointment to expedite processing. **The FSAID replaces the FSA PIN as was used previously.**
Complete the Free Application for Federal Student Aid (FAFSA)
Enter all information as requested and submit the FAFSA On the Web using the FSAID created. The school code for Eastern International College is 031226 ; note that it will show the Jersey City campus as it is one database accessed by both campuses.
When prompted, submit income information for all parties to the FAFSA as required. If you or another party to your FAFSA are unable to use the IRS Data Retrieval Tool (IRS DRT) on the FAFSA, you will be required to submit additional documents to verify your information as provided.
Apply for New Jersey State Grant Funds
Answer additional questions for the NJ State application. A link is provided on the FAFSA On the Web Confirmation Page after initial submission to apply for state aid. If you are unable to link to the state application following the FAFSA, the application is also available via the Higher Education Student Assistance Authority (HESAA) website. You will need to make a separate Username and Password for their state student aid application, NJFAMS, to access your account.
HESAA continues to review applications throughout the award year and may request additional information if selected for state verification. HESAA will send communication regarding the TAG status and amount directly to the applicant. Applicants should also check their NJFAMS accounts Notifications and To Do sections for any updates regarding their award eligibility. Students can also use the TAG Estimator Tool on HESAA’s website for an estimate of their state grant eligibility when planning their finances.
Submit Federal Direct Loan Applications
Applicants must complete a Master Promissory Note and Entrance Counseling online prior to Federal Direct Subsidized/Unsubsidized loan disbursement. This can be completed three-days following creation of the FSAID. Students must complete both steps as the Entrance Counseling reviews the terms of borrowing, and the Master Promissory Note is the agreement to borrow.
**UPDATE FOR FEDERAL DIRECT LOAN BORROWERS**
Beginning with the 2020-21 academic year, all Direct Loan borrowers will be required to complete an Annual Student Loan Acknowledgement (ASLA) each year prior to disbursement of their student loans; this includes Parent borrowers of Federal Direct Parent PLUS Loans as well. This additional tool is aimed to help borrowers preview their anticipated monthly repayment, understand more thoroughly the terms of borrowing, and review the amount that they have borrowed.
To complete ASLA, log into your MyStudentAid account using your FSA ID and navigate to complete the requirement. Parent Plus borrowers of dependent undergraduate students are required to complete ASLA using their own FSAID; this is the same log on credentials used to submit the Master Promissory Note for borrowing.
The U.S. Department of Education has indicated this tool will go live in April 2020 on studentaid.gov.
Request a Direct Parent PLUS Loan (only if Dependent)
Dependent students are limited in their Federal Direct Unsubsidized eligibility, however a Parent can apply for funds under the Federal Direct Parent PLUS program. The Parent must log on to the StudentLoans site and Request a Direct PLUS Loan for Parent borrowers; an immediate credit decision will be provided. If approved, the Parent will be directed to complete a PLUS MPN as well. This application is available three-days following FSAID creation. If denied, the Parent has the option to add an Endorser for loan approval, or the student may be eligible for additional Federal Direct Unsubsidized Loan funds.
All applications will be received approximately three days after completion. Prospective students should contact the Admissions Department to schedule an enrollment appointment. It is suggested that applicants print out copies of each completed step to expedite processing. Information regarding Cost of Attendance and general financial aid eligibility can be found on the College’s website at www.eicollege.edu.