Government Loans & Grants

FEDERAL STUDENT FINANCIAL AID

All students applying for federal financial aid must file a Free Application for Federal Student Aid (FAFSA). For access to forms and to learn about deadlines please visit www.fafsa.gov. Our school code at EIC is 031226.

Federal Pell Grant

Federal Pell Grants are available to students who have not yet received a bachelor's degree and show financial need, as well as additional eligibility criteria. Unlike loans, grants are “gift aid” that do not have to be repaid. The maximum amount received for the 2017-18 award year is $5,920, but amounts will vary depending upon financial need. For more information on Federal Pell Grants - https://studentaid.ed.gov/sa/types/grants-scholarships/pell


Federal Direct Loan (Subsidized and Unsubsidized)

Stafford Loans are low-interest loans available to eligible students to help fund higher education at two- and four-year institutions. Subsidized loans accrue interest while the student is in school which the government pays for, while unsubsidized loans accrue interest while the student is in school which the student pays for.

For detailed information about the differences between these loans, eligibility, interest rates, and the application process https://studentaid.ed.gov/sa/types/loans.

Loan Counseling

Students electing to take the Federal student loan at the College complete loan counseling online at www.studentloans.gov. before borrowing and prior to graduation. Financial Aid Representatives are available for any questions regarding the financial programs available.

Parent PLUS Loan Program

If you are considered a dependent student, your parents may apply for a Direct Plus loan to help pay for your education. For information regarding eligibility requirements, go to https://studentaid.ed.gov/sa/sites/default/files/direct-loan-basics-parents.pdf.

Completing an Online Direct Loan Master Promissory Note (MPN)

All students who borrower, ( both new and continuing students) , and choose to accept loans must complete a Direct Loan Master Promissory Note or MPN.

In order to apply online for a Federal Direct Loan, including both Subsidized and Unsubsidized Loans, ALL of the following must apply to you:

  • You have been admitted to one of the Eastern International campuses.
  • You have completed the Free Application for Federal Student Aid (FAFSA) and you added Eastern International College's School Code of 031226 to authorize the release of your FAFSA information.
  • The Eastern International College Financial Aid Office has sent you a Financial Aid Award letter
  • You were awarded a Direct Subsidized and/or Direct Unsubsidized Loan and have submitted your completed Award Offer with an accepted Direct Loan award to Eastern International College.
  • You have completed Direct Loan Entrance Counseling.

If you meet all of the conditions above, you may complete your Direct Loan Master Promissory Note (MPN) online www.studentloans.gov.

The Direct Loan Master Promissory Note website is managed by the U.S. Department of Education.

To complete the Direct Loan MPN you will need the following:

  • To create or reset your FSAID Username and Password, visit https://fsaid.ed.gov/npas/index.htm
  • Your Social Security Number and Date of Birth
  • Your Driver’s License Number (if applicable), Permanent Address, Telephone Number, and Email Address
  • The full name, U.S. address, and telephone number of two personal references who live at different addresses and you have known for at least 3 years. The first reference should be a parent or a legal guardian.

NEW JERSEY STATE FINANCIAL AID

NJ Class Loans

These awards are given to New Jersey state residents who are attending graduate or undergraduate school either in-state or out-of-state. For further information, visit www.hesaa.org/index.php?page=NJCLASSapply

Tuition Aid Grant (TAG)

Nearly one out of three college qualified students in New Jersey receives TAG, and these grants may cover the full cost of tuition. For further information, visit http://www.hesaa.org/Documents/TAG_program.pdf