Contact

Financial Aid Office


Truax A1000
Enrollment Center
1701 Wright Street
Madison WI 53704

CALL: (608) 246-6170
FAX: (608) 243-4245
Email

HOURS:

Phone
Monday - Tuesday: 8 a.m. - 6 p.m. 
Wednesday - Thursday: 8 a.m. - 4:30 p.m. 
Friday: 9:30 a.m. - 4:30 p.m.  

In-person
Monday - Thursday: 8:15 a.m. - 4 p.m. 
Friday: 9:30 a.m. - 4 p.m.

Closure for disbursement processing:
Closed: Monday, September 11 – Wednesday, September 13
Regular service resumes Thursday, September 14

Financial Aid Guides

The financial aid process has many steps and can be confusing. Learn about the financial aid process. The guides below provide detailed directions for specific tasks. NOTE: All guides apply to the myMadisonCollege Classic Portal only. 

  • Accepting or Declining your Awards

    All Federal Direct Loans and Work Study must be either accepted or declined. Any grants awarded are automatically accepted.

    1. Log into myMadisonCollege
    2. In the Financials dropdown menu on the left select “Accept/Decline Awards”.
    3. You will see the different award types and amounts you are eligible for.
    4. Determine the amount of loan funding you want to borrow by reducing, declining, or accepting the offered amount.  If you accept Direct Loans, you are agreeing to pay back the borrowed amount if you drop below half-time, withdraw from the semester, or graduate.  Federal Work-Study funds must also be accepted to participate in the program.  All other types of funds (e.g., grants, scholarships) are automatically accepted for you.
    5. Accept or decline your awards:
      1. To accept or decline the entire amount, you may click Accept or Decline button.  This will need to be done for each aid type.
      2. To accept a portion of an amount, begin by clicking the corresponding Accept button. The Accepted Amount box will become green, allowing you to reduce the amount you are accepting. Enter a whole dollar amount that is greater than zero and less than or equal to the Offered Amount.
      3. Direct loans may consist of subsidized and unsubsidized loans. If you wish to receive an unsubsidized loan, you must first accept the full amount of the subsidized loan.
      4. If your awarded amount is for more than one semester, reducing the amount will reduce the amount that you receive for both semesters evenly. If you wish to accept funding for only one semester, email your request form your student email to financialaid@madisoncollege.edu.
    6. Review your changes for accuracy and then click the Submit button.
    7. You will see a window pop up confirming submission of your award acceptance
    8. Click Yes to proceed with submission.
    9. If you later decide that you need the original amount offered, email your request from your student email to financialaid@madisoncollege.edu.
  • Book Charge - Ordering Textbooks Online

    Madison College students awarded financial aid for the semester, and who meet the eligibility requirements, will be able to charge up to $800 of books and/or software listed on their class syllabus. Learn more about book charge dates. During the book charge dates, check your Holds section for FABookCharge item(s); when you see "FA Bookstore Charge Sent", you are eligible to use the Book Charge program.

    If you would like to charge your books in person, stop by any Madison College Bookstore with your class schedule and your OneCard (Student ID). If you would like to charge your books online, follow the instructions below.

    1. Verify you are eligible to use the Book Charge by logging into myMadisonCollege and checking your Holds section for "FA Bookstore Charge Sent"
    2. Go to www.madisoncollegebookstore.com
    3. Select Textbooks
    4. You may search using either: the book ISBN, the five digit course number, or Department and Course/Section
    5. Select either: Search, Add Course, or Add Selection depending on your search methods
    6. Continue until all of your classes have been added
    7. Select Get Course Materials
    8. Select the Add to Cart button for the books you want to purchase
    9. Select Shopping Cart
    10. Review your order and select Continue Checkout
    11. Select your preference for Order Update Action and check the Agreement checkbox
    12. Select Continue Checkout
    13. Log in with your Madison College username and password
    14. Choose how you would like your order delivered
    15. Enter your billing address and shipping address
    16. Choose your delivery method
    17. For Payment Type, select FINANCIAL AID
    18. Key in your Student ID number for the Account Number
    19. Check the verification box
    20. Click on Submit Order. If you have funds and your order clears, you will be given an order confirmation screen that shows your order number. If there is an issue a red message will appear.
  • Entrance Loan Counseling

    First-time Federal Direct loan borrowers must complete Entrance Loan Counseling through the Student Loans website at studentloans.gov. Results will automatically be sent to Madison College once completed. Please allow up to two business days for these to be received and processed accordingly.

    Entrance Counseling provides a better understanding of your responsibilities and obligations by borrowing student loans. You cannot save and return to these items once you start, so be sure to allow for 30 minutes to complete the requirements.

    1. Go to studentloans.gov
    2. Select Log In
    3. Enter your FSA ID Username and password. If you do not have an FSA ID select "Create an FSA ID" and go through the process to create one. If you have forgotten yours, select "Forgot Username or Password?" and select "Forgot My Username" or "Forgot My Password".
    4. Select Complete Counseling
    5. Under Entrance Counseling, select Start Entrance Counseling
    6. Select Schools to Notify
      • School State: Wisconsin
      • School Name: Madison Area Technical College
      • Click Add School
    7. Under Student Type select “I am completing entrance counseling to receive Direct Loans as an undergraduate student”
    8. Select Continue
    9. You must complete the 5 sections of Entrance Counseling. These sections require you to read over important information. The Check Your Knowledge question boxes must be answered correctly before you can move onto the next section.
    10. Once all 5 sections are completed, you will receive a “Entrance Counseling Summary”. You may print if you would like a copy of your Entrance Counseling record. You will also be notified of your completion via email.
  • FAFSA Completion

    Submitting the Free Application for Federal Student Aid (FAFSA) is the first step required to apply for financial aid. Before starting the FAFSA, gather the documents that are needed to apply utilizing the list provided by Federal Student Aid. Take time to ensure that each field is filled out accurately. Use the Helpful Hints on the right side of the application as needed. You may also watch Federal Student Aid's video on How to Fill Out the FAFSA.

    1. Go to the FAFSA website and select "Start A New FAFSA."
    2. Login – Select “Enter your FSA ID” and “Create an FSA ID”.
      1. Enter and confirm your email and create a Username and Password REMEMBER THIS INFORMATION for future use.
      2. Enter your: Social Security Number, Date of Birth, Name, Address, and Phone Number.
      3. Create 4 security questions and answers and provide a significant date in your life.
      4. Agree to the Terms & Conditions and validate your email address.
    3. Choose the aid year for the FAFSA you are filing.
    4. Create a Save Key. Remember this Save Key; you will need it to access your FAFSA if you save it and return to it later. It is recommended that you regularly save your progress while completing the FAFSA.

    5. Introduction Page - Review additional information provided by the links.

    6. Student Demographic Information - Provide contact, demographic, citizenship, academic and previous aid information, and express whether you would like to be considered for work study funds.

    7. School Selection - Grant access to your FAFSA by adding school codes.  The Madison College school code is 004007. Use the search function to add codes for other schools. Review school selection and indicate your housing plan.

    8. Dependency Determination - Answer questions to determine your dependency status. If you are considered a dependent student for financial aid purposes, continue with the next step in this tutorial. If you are considered an independent student, skip to step 11.

    9. Parent Demographics Information – Your parent(s) must provide their demographic information as of the date the FAFSA is completed. Depending on the answers, information may be required on both parents, a parent and step-parent, or a single parent.

    10. Parent Financial Information – Your parent(s) must provide their tax return filing information. If they have yet to file their taxes or are not going to file, they must manually enter this information. However, if their taxes have already been completed, they have a choice; manually enter tax information or load their tax information using the IRS Data Retrieval Tool see instructions for IRS Data Retrieval Tool below for assistance.

    11. Student Financial Information - Provide your tax return filing information. If you have yet to file your taxes or are not going to file, you must manually enter that information. If you have already completed your taxes, you have a choice; manually enter tax information or load your tax information using the IRS Data Retrieval Tool see instructions for IRS Data Retrieval Tool below for assistance.

    12. Sign and Submit – Indicate that you are not a preparer and agree to the Terms & Conditions. Click the sign button and then click “Submit My FAFSA Now”. If you are a dependent student, your parent will also need to sign with their FSA ID and agree to the Terms of Agreement.

    13. Confirmation Page You can print this page for your records. In addition, at the bottom of this page FAFSA will provide you your Estimated Expected Family Contribution (EFC). It will also provide your estimated financial aid award. Note that both of these numbers are subject to change based on the information provided in your FAFSA and information provided at Madison College.

    After completing your FAFSA:

    Your FAFSA will be processed and sent to the Madison College Financial Aid Office. Processing times vary, please monitor your student email and To Do list for updates and instructions. Once your FAFSA is received, we will review your information to determine if any additional information is needed or process your award. Get complete requirements and next steps.

  • Grant Student Permissions

    Granting Title IV Permission authorizes Madison College to apply financial aid funds you receive toward payment of any charges billed by Madison College. In addition, it authorizes Madison College to pay prior year charges of no more than $200 with Title IV funds.

    How to Grant Student Permissions

    1. Log into myMadisonCollege
    2. In the Financials dropdown menu on the left, select “Student Permissions”
    3. Click on the "Grant Permissions" button.
    4. Select the permission form (e.g. FA_BKCHRGE, TITLE_IV)
    5. Click "Next" to continue.
    6. Read the Permission Form Agreement carefully, and check the "Yes, I have read the agreement box".
    7. Click Submit to complete the process and grant student permissions.
    8. For assistance with student permissions, contact the Enrollment Center.
  • IRS Data Retrieval Tool

    The IRS Data Retrieval Tool is available to retrieve data directly from a filed 2016 tax return for use on your 2018-19 Free Application for Federal Student Aid (FAFSA). If you and/or parents use the IRS Data Retrieval Tool on the FAFSA and do not change any of the data elements retrieved, you will not be required to submit tax return transcripts for yourself and/or your parents or spouse in the event you are selected for verification. Tax data will be available for retrieval on the FAFSA within:

    • 1-2 weeks if you filed your taxes electronically
    • 6-8 weeks if you filed your taxes with a paper tax return by mail

    Follow the instructions below to use the IRS Data Retrieval Tool on your FAFSA. The instructions will start with the assumption that you are not already logged in to your FAFSA.

    1. Login to the FAFSA website using your FSA ID.
      1. If you do not have an FSA ID select "Create an FSA ID" and go through the process to create one.
      2. If you have forgotten your FSA ID, select "Create an FSA ID" and select the Edit My FSA ID tab and click "Forgot My Username" or "Forgot My Password".
    2. If you have already submitted your FAFSA, select Make FAFSA Corrections.
    3. Create a "Save Key"
    4. Verify your previously entered demographic information and make updates as needed.
    5. Go to the Financial Information tab
    6. Make sure that the status of the tax return is marked "Already Completed". If marked "Will File" or "Not Going to File" you cannot use the IRS Data Retrieval Tool.
    7. Complete the series of questions provided to determine if you can use the IRS Data Retrieval Tool.
    8. If eligible, click the "Link to IRS" to be transferred to the IRS database.
    9. A message indicating you are leaving FAFSA on the web will pop up, select OK
    10. Enter the required filling status and address information exactly as it was filed with the IRS and click Submit.
    11. Review the tax information displayed, check the "Transfer my Tax Information to the FAFSA" box.
    12. Click the Transfer Now button. You will be redirected back to the FAFSA.
    13. Note: Everything transferred over from the IRS will say "Transferred from the IRS," be sure not to change any of this information.
    14. If you are dependent for FAFSA purposes, review the income earned from work questions for your parents using their W-2(s) for accuracy. This information is not transferred from the IRS.
    15. After retrieving tax information, continue to the "Sign and Submit" section and follow instructions to submit your corrections.

    Note: If you are a dependent student and required to provide parental information, you may also use the IRS Data Retrieval Tool for your parents. Navigate to the Parent Financial Information tab and repeat steps 6 through 14.

    Students and/or Parents who are ineligible to use the IRS Data Retrieval Tool (or choose not to use the tool) and whose FAFSA is selected for verification must submit the IRS Tax Return Transcript to the Financial Aid Office.

    UPDATE: 
    IRS Data Retrieval Tool Unavailable for the 2017-18 FAFSA

    In March of 2017, the U.S. Department of Education and the Internal Revenue Service suspended the use of the IRS Data Retrieval Tool for the 2017-18 FAFSA, commonly used by students and parents to complete the Free Application for Federal Student Aid (FAFSA) to automatically populate FAFSA fields with your federal tax information.

    Because the tool remains unavailable for completing the 2017-18 FAFSA, Madison College is recommending that you do the following to assist you in the filing process:

    1. Don’t delay completing your FAFSA.
    2. Use your 2015 tax returns to complete the 2017-18 FAFSA.
    3. If selected for verification, you will be asked to provide a 2015 Tax Return Transcript. We recommend requesting the document immediately after completing the FAFSA, as it can take 5-10 days to arrive by mail.  For instructions on how to obtain one, review the information in the Tax Return Transcript section of this page.

    If you have questions on how to complete your FAFSA or need assistance, register for a FAFSA Workshop or contact the Financial Aid Office, we are here to help.

  • Master Promissory Note

    First-time Federal Direct loan borrowers must complete a Subsidized/Unsubsidized Master Promissory Note (MPN) through the Student Loans website at studentloans.gov. Your MPN will automatically be sent to Madison College once completed. Please allow up to two business days for these to be received and processed accordingly.

    The MPN is a legal document in which you are promising to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. You cannot save and return to these items once you start, so be sure to allow for 30 minutes to complete the requirements.

    1. Go to studentloans.gov
    2. Select Log In
    3. Enter your FSA ID Username and password. If you do not have an FSA ID select "Create an FSA ID" and go through the process to create one. If you have forgotten yours, select "Forgot Username or Password?" and select "Forgot My Username" or "Forgot My Password".
    4. Once logged into the Student Loans website, select Complete a Master Promissory Note
    5. Select Complete Subsidized/Unsubsidized MPN for the type of Direct Loan you would like to receive.
      • For parents who have completed the Parent PLUS Loan Request Form, you must select Complete PLUS MPN for Parents.
      • Madison College does not offer Graduate PLUS loans, so this should not be selected.
    6. Enter your information under the Borrow Information section. Note that Driver’s License information is not required if you do not have one.
    7. Enter Madison College information under the School Information section.
      • School State: Wisconsin
      • School Name: Madison Area Technical College
    8. Select Continue
    9. Provide contact information for two (2) references. These must be people who you will have contact with in the future.
    10. Read Terms & Conditions
      • Read all of the information by selecting the plus sign next to each section and scrolling all the way through. You are required to read all the information before moving onto the next section.
      • Review the terms and conditions and check the box to agree.
    11. Review the information before submitting
    12. Enter your name, middle initial, and last name.
    13. Click Sign to sign the Master Promissory Note.
  • Set Up E-Refunding

    When more funds are deposited into your student account than the amount you owed to the college, you will receive a refund. Refund checks are mailed to your mailing address on file, unless you have set up e-refunding. E-refunding allows the college to electronically deposit your refund directly into your bank account.

    1. Log into your Student Center in the myMadisonCollege Classic Portal.
    2. Under the "Finances" section, click on "Make Payment/Account Inquiry."
    3. Click the "payments" tab.
    4. Click the green "Make a Payment" button.  This will take you to the TouchNet banking screen.
    5. Click the "eRefunds" tab.
    6. Click "Set up Account."
    7. Enter the requested information. Be sure to double-check that the information entered is correct and click "Continue."
    8. Review the information, check the "I Agree" box, and click "Continue."
    9. The eRefunds page will show "Your new ACH refund account has been saved." And you will see the name of your account under "Account Description."

    Note: The timeframe in which you receive your refudn depends on the U.S. Postal Service for a paper check, or your bank's policies for e-refunding.

    For questions regarding e-refunding, contact Financial Operations.

  • Tax Return Transcript

    You may be able to use the IRS Data Retrieval Tool on your FAFSA, however, if you are unable or choose not to use this tool, you may obtain a Tax Return Transcript by one of the following ways listed below.

    Online Request For Mailed Copy

    1. Go to www.irs.gov
    2. Select Get My Tax Record
    3. Select the Get Transcript by Mail button
    4. Read the disclaimer and select the OK button
    5. Enter your Social Security Number, Date of Birth, Street Address, and Zip Code
    6. Select Continue
    7. For Type of Transcript, select Return Transcript
    8. For Tax Year, request the calendar year you need. For example, for the 2016-2017 aid year, request the 2015 calendar year.
    9. Select Continue

    Online Request For Printable Copy

    1. Go to www.irs.gov
    2. Select Get My Tax Record
    3. Select the Get Transcript Online button
    4. For First Time Users, select Get Started and follow the instructions to create a new account. Otherwise log in with your username.
    5. Select a reason you need a transcript: Higher Education/Student Aid
    6. Ensure your pop-ups are not blocked for this site
    7. Under Return Transcript, select the appropriate year based on the instructions in your To Do List.
    8. Save and/or print your Tax Return Transcript as needed.

    Phone Request

    1. Call the automated IRS system at 1-800-908-9946
    2. Listen to the welcome message and select English or Spanish
    3. Enter your Social Security Number (SSN)
    4. Confirm your SSN
    5. Enter your street address number (not the actual street)
    6. Request the Tax Return Transcript which should be option #2

    Mail Request

    1. Go to www.irs.gov
    2. Select Get My Tax Record
    3. In the Related Forms box on the right hand side, select Form 4506T-EZ, Short Form Request for Individual Tax Return Transcript and then select the 4506T-EZ link
    4. Fill boxes 1a through 4 out on the form
    5. Do not fill out line 5, you should not be mailing this directly to us, have it mailed to you and then you can send it to us with your student account information.
    6. Under 6, enter the calendar year(s) you wish to receive a Tax Return Transcript. For example, for the aid year 2016-2017, you need to enter 2015 to get your 2015 Tax Return Transcript
    7. Sign and date the form
    8. You may then send the form to the appropriate address listed on page two or fax it.

FAFSA Workshop

Madison College offers free FAFSA workshops for prospective and current students throughout the year. If you require assistance with completing the application, Master Promissory Note (MPN), or Entrance Loan Counseling, register now. All workshops require advance registration and are held at the Truax campus.

REGISTER FOR A FAFSA WORKSHOP

Other Classic Portal guides: Before Registration | Registration Guide | After Registration