MBA Finances

Federal Loans FAQ's

Do I have to apply for Federal Loans every year?

Yes.

Eligibility for the Direct Subsidized/Unsubsidized Loans is determined on data from the prior calendar year. Be sure to submit the correct year FAFSA for the academic year that you plan to enroll. Continuing students have the option of completing a Renewal FAFSA on which most of the personal and demographic information from the prior year application is preprinted. The renewal process is much simpler, as only new information or information which has changed and requires updating needs to be supplied.

In addition to completing a new FAFSA, you need to accept your loan offer on BearFacts, and submit a new Grad PLUS Request Form each year. You do not, however, need to complete a new MPN or Entrance Interview