2013-2014 Financial Aid Loan Processing
August 21, 2013
Drexel Central is currently processing financial aid for the 2013-2014 academic year. All loan certification requests may not be reflected on your August eBill; however, Drexel Central is working to ensure that financial aid is finalized and in place for the September 11th billing due date.
Financial aid is set to pay for the Fall Quarter on September 17th. In order to ensure your financial aid is reflected on your account for the billing due date and pays on time, if you have not done so already please complete all outstanding financial aid requirements and submit all certification requests prior to September 9th.
Federal Direct PLUS Loans
If you or your parent has been approved for a Graduate or Parent PLUS loan, the Department of Education will electronically send the information to Drexel. Drexel will process and place the PLUS Loan on your account. You will receive an e-mail notifying you of this addition to your financial aid award once certification is complete.
Please note that a Master Promissory Note is required for a Direct PLUS Loan that is separate from the loan application and is required before the loan can pay. Complete the promissory at www.studentloans.gov
Private Education Loans
Eligibility for Title IV funding must first be determined prior to pre-certification of a private loan. Therefore, a FAFSA must be completed and submitted to the Department of Education. Go to www.fafsa.ed.gov to complete a FAFSA if you have not done so already.
When you are approved for a private education loan, your lender will submit the information to Drexel for certification. Depending upon your lender and their delivery method, it may take up to 5 business days for Drexel to receive the certification request. Drexel will process and place the private Loan on your account within 10 business days of receiving this information.