Reapplication for federal and institutional financial aid (loans and work-study) must be made each year you wish to receive this aid.
Re-Applying for Federal Loans, Work-Study, Alternative Loans
You must file a renewal FAFSA form to apply for these programs at www.fafsa.ed.gov. You will need your user name and PIN to file your form. The Renewal FAFSA enables you to update your information, therefore eliminating the need for you to complete a new FAFSA application. You should plan to submit your Renewal FAFSA to the federal processor as soon as possible after January 1.
Federal Direct Loan (Unsubsidized)
This loan will be replacing the Federal Stafford Loan. SFS will be notifying you of your eligibility for the 2012-2013 academic year. If you don't wish to borrow the full amount of your Direct loan eligibility, you can reduce the Direct Loan through the Penn Loan System at www.sfs.upenn.edu/loans.
Federal Perkins Loan
Continuing borrowers will receive a Federal Perkins Disclosure Statement in their SFS aid package, sent at the end of May. If you wish to cancel or reduce the Perkins Loan, you should indicate this on the Disclosure Statement and return to Student Financial Services.
Financial Aid Calendar for Continuing Students
|February 15||Recommended deadline for submission of renewal FAFSA forms|
|May||Final award notification process begins for all students whose files are complete. Award letters will be mailed to the permanent address on file with the University Registrar|
|July||Fall tuition bills are mailed to student's permanent address|
|August||Fall tuition due|