Applying for Financial Aid

1. Schedule a Financial Aid interview

Each new student is required to schedule an appointment with the Financial Aid Office for a financial aid entrance interview. During this appointment, you will become acquainted with the financial aid payment periods, when tuition is due, and from what programs you can borrow.

2. File the FAFSA

To be considered for any financial assistance, students must be officially admitted and complete the Free Application for Federal Student Aid (FAFSA). Use the MTSA School Code 007783.

You will need a Federal Student Aid (FSA) ID to complete and electronically sign your application. The FAFSA website will guide you through obtaining an FSA ID.

Each year, students will reapply for financial assistance through a renewing of the FAFSA, at www.fafsa.gov.

Please note: The FAFSA application process is a free service provided by the US Department of Education. Students will not be asked to pay a fee to access it, so check your website before proceeding.

3. Report outside assistance

If you receive scholarship funds or tuition assistance from outside sources, they must be reported to the Financial Aid Office so they can be incorporated into the financial aid package.

4. Complete loan entrance counseling

  • Direct Unsubsidized Loans – complete online entrance counseling and the master promissory note (MPN) for an unsubsidized loan on studentloans.gov.
  • Direct Graduate PLUS LoansEach time a new loan is borrowed, students must complete a Federal Graduate PLUS application and promissory note on studentloans.gov.
  • Private loan forms and applications will need to be acquired from your lender and completed each time a new loan is borrowed.

5. Review award notice and confirm awards

The cost of attendance, for your program of study, drives the amount of financial assistance you are eligible to be awarded. Prior to each loan period, you will receive the cost of attendance budget, disbursement dates and award information with further instructions from the Financial Aid Office. The award offer will include the maximum Federal Direct loan you may borrow for the year and any outside assistance you’ve reported for the loan period. MTSA requires you to confirm your award offer before certifying any federal and/or private assistance. A deadline date to confirm the award offer will be posted on the award notification. The deadline is to ensure funds arrive in time to pay tuition, as the funds will be requested by MTSA.

To confirm your award package, email finaid@mtsa.edu. If requests are made after the deadline (to process the loans by the tuition due date), arrangements for payment must be made with the Business Office.

Students who do not confirm their awards with the Financial Aid Office will not have loans processed.

Financial Aid Award Letter Glossary»

Disbursement Information

Loans will be processed and requested to disburse on the tuition due dates within each loan period.

The DNAP Practice Doctorate program is a three year program and each academic year is three semesters. Loans will be processed to arrive in three equal disbursements, one per semester.

Direct charges, (tuition and fees) will be deducted from the loans first. MTSA will make a deposit of any credit balance into the student’s bank account through an electronic transfer of funds.  Students can view their disbursements on their CAMS student portal.

EFT Transfer Procedure

The Business Office utilizes an electronic funds transfer (EFT) system to disburse any student credit balances into students’ personal banking accounts. Students who request financial aid will be asked to complete an MTSA Authorization Agreement for Electronic Funds Transfer. Any personal information provided by the student will be held in confidence and only used for management of the EFT system.

Procedure

  1. MTSA will receive the financial aid disbursement from the Department of Education and/or private loan source.
  2. Tuition and fees are deducted from each student’s financial aid disbursement and posted to each student’s school account.
  3. Any remaining credit balance on student’s school accounts will be moved via EFT to each student’s personal bank account by posted disbursement dates, as directed by the MTSA Authorization Agreement for Electronic Funds Transfer.

 

  • Any change in bank information MUST be given to the Business Office no later than two weeks prior to the disbursement date, by completing a new MTSA Authorization Agreement for Electronic Funds Transfer with the Financial Aid Office/Business Office.
  • If a bank change is made close to a disbursement date, MTSA may not be able to guarantee that the student’s funds will be available on its disbursement date. A bank change may include, but is not limited, to a bank merger, bank name change, bank sale, personal account update.
  • Student accounts are maintained in the Business Office and students may access account information on their CAMS student portal.

Cancellation Policy

Students have a right to cancel all or part of the loan disbursement(s) awarded. The loans may be cancelled, with the Financial Aid Office, any time before the loan disbursement dates. Once MTSA is in receipt of the loan funds, students have a right to cancel all or part of the loans within 14 days after the disbursement date for the loan period. In order to cancel any or all of your federal aid, students must confirm in writing the award(s) and amount(s) and send the request to finaid@mtsa.edu. Students are responsible for any unpaid balance on their student account. Borrowers will be advised of the status of their request for cancellation.