A. Financial Aid Award Letter
An award letter will be sent from the Financial Aid Office that will outline your annual costs and financial aid award. A signed copy of the letter (accepting the awarded Financial Aid) must be returned to the Office.
B. Entrance Counseling– Stafford Loans
Every student enrolled at Colgate Rochester Crozer Divinity School and borrowing Stafford Loan Funds must be counseled as to his/her rights and responsibilities regarding loans and loan repayment. This requirement must be met by accessing our entrance counseling website at Mapping Your Future. The session takes approximately 10 minutes and a confirmation will be forwarded to the Financial Aid Office within 24 hours of completion. You must complete this requirement before funds will be disbursed to your student ccount.
C. Master Promissory Note (MPN) for a new lender
The Master Promissory Note addresses the borrower’s rights and responsibilities for a Stafford Loan and needs to be completed only once for each lender. The e-MPN must be completed before the loan can be processed and you may do so by clicking here. This is the only time that you will need to complete this form, since it is good for the duration of your studies at CRCDS.
Please note when completing the MPN:
Research which lenders you would like to provide you with a Stafford Loan (Questions 8 & 9). Each lender may offer differing services. We have prepared a listing of lenders below that other students have used and which you might want to consider. You are not required to select a lender from those listed nor will you beharmed in anyway for choosing a lender not on the list. You are not required to keep the same lender while you are studying at Colgate Rochester Crozer Divinity School. A new MPN will need to be completed each time you change lenders.
Question 12 on the MPN gives you an option to pay the interest on an Unsubsidized Stafford Loan while you are in school. Please answer question 12 even if you will not need this loan this year.
The current interest rate, effective 7/1/06, for all Stafford loans is fixed at 6.8 %.
Please be certain to read the borrower’s rights and responsibilities statement.
D. Work
Students are encouraged to work during the summer and part-time during the academic year. Earnings from employment, as well as assistance from family, can ease some of the financial burden.
E. Final Step
Now is the time for you to sit back and relax. We will take care of the next steps on your behalf. You are well on your way to financing your seminary education!
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Only CRCDS embodies the life changing legacy of the social gospel to prepare progressive leaders who are globally conscious, passionate and ready to transform people and communities.
CRCDS · 1100 South Goodman St.· Rochester, NY 14620 · (585) 271-1320
