Your Financial Aid Award
After Rio Salado College's Financial Aid Office has processed your Free Application for Federal Student Aid (FAFSA), you will receive a Financial Aid Notification (FAN) with an email containing information about your award. The email will be in the Official Student Email.
The FAN contains:
- Information about the types and amounts of federal student aid you are eligible to receive
- Important disclosures about the student aid
- Additional instructions (for some students only)
Review Your FAN
Review your FAN closely for instructions about any follow-up tasks you may be asked to complete. Receiving Your Funds
- Tip: You can view and act upon these tasks in your Student Center.
Review the financial needs required to support your education plan. Loans must be repaid with interest, even if you do not finish school.
- Tip: Consider how much debt you are incurring, and whether a loan is the right decision for you.
Rio Salado College packages an initial financial aid award with the direct loan maximum base amount, however, you may be eligible for additional loan funds.
- Tip: To request additional loan funds, you may submit a "Request for Additional Loan Funds" form. Instructions are contained in your award message.
Accept the portion of your aid package that you want to receive. You may decide that you do not want to borrow the entire amount of the student loan made available to you.
- Tip: You have the right to cancel the portion of aid you do not want to receive.
Entrance Counseling and Master Promissory Note
You must complete an Entrance Counseling session and a Master Promissory Note if you are applying for federal financial aid. You only need to complete these one time while you are attending Rio Salado College.
The interactive Entrance Counseling session is fast and easy. It can be completed online, and provides useful tips and tools to help you budget and understand your loan responsibilities.
- The session takes about 30 minutes to complete online.
Master Promissory Note
A Master Promissory Note (MPN) is a legally binding contract you sign, agreeing to repay the loan money you have borrowed. The MPN describes your rights and responsibilities as a loan borrower.
- It takes approximately 15 minutes to complete online.
Satisfactory Academic Progress
It is important that as a financial aid recipient, you maintain academic progress in accordance with the Satisfactory Academic Progress (SAP) policies.
Receiving a Book Advance
Book Advances allow you to use a portion of your anticipated financial aid to purchase textbooks and supplies for classes before they start.