Step-by-Step Financial Aid
Step 1. The Free Application for Federal Student Aid (FAFSA)
- Complete your FAFSA online at www.fafsa.ed.gov. (Note: You will need to electronically sign the FAFSA with your four-digit PIN number. You may use your PIN number from a previous award year or you may obtain a new PIN number at www.pin.ed.gov.)
- For dependent applicants at least one parent must electronically sign the FAFSA with their own four-digit PIN number, either from a previous award year or a new number obtained from the web address noted above.
- The school code number for Thomas More College of Liberal Arts is: 030431.
Step 2. Verification
- If your FAFSA was selected by the U.S. Department of Education for verification, TMC will forward to you (the applicant), a written request for additional documentation.
- Required documents will include a completed and signed Institutional Verification Document and parent and/or student tax returns information provided by using the IRA Data Retrieval Tool when completing the FAFSA or by subsequently providing an IRS TAX Transcript (not an ACCOUNT Transcript) directly to the TMC Financial Aid Office.
- All documents must be completed, signed and returned directly to the TMC Financial Aid Office as indicated.
Step 3. The Award Summary
- If you were not selected for verification or have completed the verification process and you have been admitted for the next term or are a current or returning student, the TMC Financial Aid Office will complete its analysis and send to you (the applicant/ student) an Award Summary.
- The summary provides details of the financial aid programs and the amount of funds being offered to you from each program.
- Incoming (New) students are awarded on a rolling basis as their financial aid application becomes complete.
- Returning students are awarded after their financial aid application is complete and their grades for the previous spring semester have been posted by the Registrar’s Office.
- If you wish to decline any particular program you may draw a line through it and the amount offered to you.
- If you wish to accept a lower amount, you must cross out the annual amount and write in the lower figure. The annual amount is disbursed in equal payments for each semester.
- In order to accept and receive the funds, you must sign and return one copy of the Award Summary to the TMC Financial Aid Office.
- If you (the applicant) do not sign and return the Award Summary within 30 days, the funds offered to you may be rescinded and distributed to other qualified applicants.
- The College cannot credit or otherwise disburse assistance to your student account without a signed copy of your Award Summary on file.
Step 4. The Federal Direct Loan Master Promissory Note (MPN)
- Applicants/students who have been awarded and have accepted a Federal Direct Loan must complete a Federal Direct Loan Master Promissory Note at www.studentloans.gov. (Note: You will need to electronically sign the MPN with your four-digit PIN number. You may use your PIN number from a previous award year or you may obtain a new PIN number at www.pin.ed.gov.)
Step 5. Student Loan Entrance Counseling
- All new student borrowers must complete the student loan entrance counseling process either through the process provided on the www.studentloans.gov website or through the Mapping-Your-Future website.