Accepting and Declining Your Financial Aid 

If you have been offered a Federal College Work-Study Position, a Federal Perkins Loan, Federal Nursing Loan, Federal Parent Loan for Undergraduate Students (PLUS), and/or a Federal Subsidized/Unsubsidized Stafford Loan, you must accept, decline or accept partial amounts of these awards. Please refer to the instructions below for accepting/declining these financial aid awards.

1. Go to Alfred State College Banner website at http://web.alfredstate.edu/banweb and click Continue.
2. Click on Enter Secure Area.
3. Log in using your Alfred State College User ID and PIN.
4. Change your PIN and set up a Security Question and Answer if you are required to do so.
5. Click Student Services & Financial Aid.
6. Click Financial Aid.
7. Click My Award Information.
8. Click Accept Award Offer by Aid Year.
9. Click the drop down box and select the appropriate Financial Aid year. Click Submit.
10. Follow instructions listed on the screen.
11. Click Submit Decision.
12. New Students who accepted loans as part of their aid package must refer to the following instructions to initiate the loan processes. Returning students who completed a Master Promissory Note (MPN) in a prior academic year DO NOT need to complete another MPN. They only need to accept the loan offer on BannerWeb.

APPLYING FOR FEDERAL LOANS AND WORK STUDY

Federal Subsidized/Unsubsidized Stafford Loan

1. Electronically accept on Banner Web (All Students).
2. Complete Stafford Loan Entrance Counseling (New & Transfer Students) at web.alfredstate.edu/banweb. Click continue and then General Financial Aid. Next click on Federal Stafford Loan Entrance Counseling.
3. Electronically complete Stafford Subsidized/Unsubsidized Master Promissory Note (MPN) at www.opennet.salliemae.com (New & Transfer Students)

Federal Parent Loan for Undergraduate Students (PLUS)

1. Parents must obtain a pre-approval decision at www.opennet.salliemae.com
2. If approved, proceed to Step #4.
3. If denied, contact the Financial Aid Office for information on additional student loan eligibility.
4. Parent borrower must complete the PLUS Master Promissory Note (MPN) at www.opennet.salliemae.com.

Please Note: PLUS loans may not be used as a credit on the student’s bill until an approved loan decision is received in the Financial Aid Office.

Federal Perkins Loan

1. Electronically accept on BannerWeb.
2. Once accepted first-time borrowers must wait five (5) business days before attempting to complete their online Master Promissory Note (MPN).
3. First-time borrowers complete the Perkins Loan MPN at web.alfredstate.edu/banweb. Click Continue, then General Financial Aid, then Federal Perkins Loan Master Promissory Note. Students will need their FAFSA PIN number to authenticate their identity.
   
   Returning students who completed a Nursing Loan MPN in a prior academic year DO NOT need to complete another MPN. They only need to accept the loan offer on BannerWeb.

Federal Nursing Loan

1. Electronically accept on BannerWeb.
2. Complete Nursing Loan Entrance Counseling at web.alfredstate.edu/banweb. Click Continue, General Financial Aid, then Nursing Loan Entrance Counseling.
3. First-time borrowers will receive a paper Nursing Loan Master Promissory Note (MPN) from the Alfred State College Student Accounts Office.
   
   Returning students who completed a Nursing Loan MPN in a prior academic year DO NOT need to complete another MPN. They only need to accept the loan offer on BannerWeb.

Federal College Work Study Program

1. If offered, electronically accept on Banner Web (All Students).
2. Students who accept CWSP will receive application materials over the summer. Return completed paperwork by the due date. Job assignments are made by the College Work-Study Coordinator.
    

Important Loan Notice!
Loans not approved may not be available as a credit for the student bill. Students will need to make arrangements to pay their bill and will be reimbursed after all aid is finalized and received by Alfred State College.

Procedures subject to change without notice