Applying for and Accepting Financial Aid

FINANCIAL AID

Applying for and Accepting Financial Aid

How to Apply for Financial Aid

Students seeking financial assistance must file the Free Application for Federal Student Aid (FAFSA). The FAFSA is used to determine eligibility for financial assistance from the federal and New Jersey state financial aid programs. The FAFSA is available on the web at www.fafsa.gov. A paper version of the FAFSA may be obtained by calling 1-800-4-FED-AID. *We encourage applicants to file their FAFSA on the web. Applying students will need to designate Rowan University as a school choice by including Rowan University's federal school code: 002609 on the FAFSA.

Steps to Apply for Financial Aid:

  1. File your Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov. Our Federal School Code is 002609
  2. Review your Student Aid Report (SAR). This is a summary of information from your FAFSA. If you need to make corrections to your FAFSA, please log into www.fafsa.gov and click “Make Corrections to a Processed FAFSA.”
  3. Complete the Verification Process if selected.
  4. Review your Award Offer from Rowan. New and transferring students will receive a letter with a preliminary award offer. Continuing Rowan students may view their award through the student’s Self Service account starting in mid-June.
  5. Accept Award Offered. You must accept any loan offered before the funds will be applied to the student’s account.
  6. Sign your Master Promissory Note (MPN). Go to www.studentloans.gov. All new, first time borrowers of Federal Direct Stafford Loans are required sign a MPN.li>
  7. Complete Loan Entrance Counseling. All new, first time borrowers of Federal Direct Stafford Loans need complete this before the loan will be disbursed. You may complete this online at www.studentloans.gov. Rowan will be notified when this process is complete.
  8. Apply for Parent PLUS Loan. A parent of an undergraduate dependent may borrow a loan on behalf of the student. Parent PLUS loans are based on a credit check run by the federal government and Rowan will be notified if the loan is approved. The current interest rate for this loan is 7.21% with a 4.292 origination fee. Repayment beings 60 days after the loan is disbursed however this can be deferred. The parent will need to complete the online application at www.studentloans.gov.
  9. Apply for Alternative Loans. Apply for alternative/private loans only if additional funds are needed. You may find a list of private loan lenders here. Every private lender requires a credit check.

*Remember to Use Your Federal Aid First 
Always use any available grant and scholarship aid before applying for or accepting a student loan. When considering your loan options, remember to use your federal aid before applying for private loans. Federal loans usually have lower, fixed interest rates and more flexible repayment options than private loans. For more information, visit the U.S. Department of Education's Federal Aid First website at www.federalstudentaid.ed.gov.

Accepting your Financial Aid

A student must “accept” any loan offered before the funds will be applied to the account.

How to accept student Stafford Loans online:

  • Log into your Student Self-Service account: 
    • Select Access Banner Services
    • Secure Area – Login Required
  • Select the Financial Aid Tab
    • Select Award
    • Select Award for Aid Year
    • Select Aid year from drop down box
    • Click Submit
  • Select Award Overview Tab
    • You may PRINT the award overview for your records
  • Click on Submit Information
  • Select Accept Award Offer Tab
    • The student for future reference should print a copy of the accepted financial aid awards.
  • Accept Awards and Submit

If you do not know your Banner ID and/or PIN visit: www.rowan.edu/mybanner
If you do not know your Rowan Username and Password go to: www.rowan.edu/password
If you still are having trouble, visit the Support Desk website at: http://www.rowan.edu/toolbox/ or you may call (856) 256-4400

How to View your Official Billing Statement

Access your Banner Services Account

Click on Bursar Services

Click on Make a Payment

Click on View Bills/Make a Payment

Click on E-Bills Tab located at the top of the page

Please contact the Bursar's Office if you have questions about your bill or to make a payment: 

Phone: 856-256-4150

Email: bursar@rowan.edu