Federal Direct Student Loan Application

2023-2024 Procedures

The Financial Aid Office will review your processed Free Application for Federal Student Aid (FAFSA).  This information will be used to determine the maximum "subsidized" Federal Direct Student Loan eligibility. If the subsidized eligibility is not the full amount you are eligible to borrow based on your class standing, you may apply for the remaining amount as an "unsubsidized" Federal Direct Student Loan.

In order to process (certify) a Federal Direct Student Loan for the 2023-2024 school year steps 1 through 3 MUST be completed. 

STEP 1: You must file a 2023-2024 FAFSA with Skidmore College's code (002814). You should file electronically by going to the FAFSA website. Skidmore College will receive the information electronically as long as our school code is listed.  Please allow the financial aid office 10 business days to award your loan package.  Once awarded, you will need to sign onto the Skidmore Student System and accept your loan award.  You can find step by step instructions here.  

STEP 2: First time Federal Direct Student Loan borrowers must complete the federally required Direct Loan Entrance Counseling, by following instructions for entrance counseling. You must use your FSA username and password to complete the entrance counseling session. If a student has borrowed a Federal Direct Student Loan at Skidmore College, and completed the Entrance Counseling in a prior year, they are not required to complete it again.

STEP 3: Complete a Direct Loan Master Promissory Note (MPN). This is required of all first time borrowers. If a student has borrowed a Federal Direct Loan in a previous year at Skidmore and completed the MPN they are not required to complete it again.

PLEASE NOTE:

IF your FAFSA is selected for “verification” by the Federal processor, additional paperwork will be required.

#1 -  IF the IRS Data Retrieval was not used to complete the FAFSA, 2021 SIGNED TAX RETURNS, OR, 2021 Tax RETURN Transcript are required for the parent(s) who completed the FAFSA and the student if he/she filed a tax return.  

#2 - 2021 W-2’s for both the parents and student (if appropriate) used to complete the FAFSA

#3 - Verification Worksheet for the current year.