financial-aid

Financial Aid Application Procedures

Students must submit the Free Application for Federal Student Aid (FAFSA) each year to be considered for financial aid. The FAFSA application becomes available January 1 for the upcoming academic year. Apply early, as the priority application date is April 15. Students who apply after this date will be considered for all types of aid, but some funds may no longer be available.

How To Apply

The 2014-15 Financial Aid process is available online through the Department of Education's Free Application for Federal Student Aid (FAFSA). Complete the FAFSA when your and/or your parents or spouses 2013 tax returns are complete. Madison College's School Code is 004007. For accurate completion and timely processing of the FAFSA, please use the IRS Data Retrieval Tool to provide tax information for yourself and/or your spouse or parents.

Free Applications for Federal Student Aid (FAFSA) on the web worksheets are available from high school counselors, Madison College Financial Aid or the FAFSA on the Web Worksheet web page. For help with filling out the FAFSA, see the FAFSA Completion Tutorial (Text Version). To request a paper copy of the FAFSA, please contact the Department of Education at 1(800) 4FED-AID.

To be considered for financial aid, Madison College requires you to:

  1. List Madison College on your FAFSA (school code 004007) to allow for receipt of your FAFSA for processing. Madison College receives an Institutional Student Information Record (ISIR), or electronic record, from the Federal Processing Center when an applicant designates Madison College as an institution s/he plans to attend on the FAFSA.
  2. Be admitted to and/or active in an approved associate degree program, college transfer or technical diploma program. Enrollment in courses without acceptance into an eligible program does not qualify a student for financial aid. You can submit a FAFSA prior to acceptance, but Madison College Financial Aid will not process your financial aid until you are accepted. To apply for a program, see Madison College's Admissions Process web page.
  3. Supply all additional documentation requested in a timely manner. If requested by Madison College Financial Aid, students may be required to submit a copy of the student’s/spouse’s federal income tax transcript(s) for the correct year. Dependent students may be required to provide a copy of their parents’ prior year tax transcript(s) in addition to the student’s prior year tax transcript. Effective fall 2012, the college cannot collect copies of actual federal tax returns. To avoid being required to request and submit your and/or your spouse's or parent(s)' tax transcript, use the IRS Data Retrieval Tool when completing your FAFSA.
  4. View Award Notice Online & Accept/Decline/Reduce Loans, if applicable. Upon receipt and verification of all documents, the student will receive an Award Notice directing the student to view their Award online through their myMadisonCollege Student Center account. At that time, students must accept, decline or reduce loan amounts awards. For assistance see the Award Acceptance Tutorial.
  5. Complete Next Steps for Loan Recipients (if applicable). If your award notice includes Stafford Loans and you are a first-time borrower at Madison College, refer to the Entrance Loan Counseling web page for next steps and links to complete a Master Promissory Note (MPN) and Entrance Loan Counseling online at the Student Loans website.

See Financial Aid Assistance for FAFSA Workshop and Financial Aid service walk-in information.