Financial Aid: Step-by-Step Guide for First-Time Applicants
Applying for financial aid can seem overwhelming, but it’s much easier if you follow these steps. Your first step is to file the FAFSA (Free Application for Federal Student Aid). This form determines if you qualify for grants (free money), loans (borrowed money you must repay), and work-study (part-time campus jobs).
Some types of aid run out quickly, so apply as soon as you can.
Step 1: File Your FAFSA
- When to apply: As soon as possible after October 1 each year.
- How to apply: Go to studentaid.gov and complete the FAFSA.
- School code: List SIUE as one of your schools — use Federal School Code 001759.
- What happens next:
- About a week later, you’ll get a Student Aid Report (SAR) by email.
- The SAR will list any corrections you need to make and show your Student Aid Index (SAI) — a number used to figure out how much aid you may qualify for.
This is only an estimate, not your final award.
Step 2: Review Your Aid Offer
- SIUE will use your FAFSA to create your official Aid Offer. You’ll get an email when it’s ready in CougarNet.
- If you don’t see an Aid Offer:
- You may have been selected for verification — a process where SIUE must confirm your FAFSA information.
- If selected, you’ll see a list of required documents in CougarNet. Some forms come from our office; others are personal records you provide.
- Once verification is complete, your Aid Offer will be posted.
Step 3: Decide How Much Aid You Need & Accept Awards
- Use SIUE’s Tuition and Fee Estimator to figure out your costs.
- Review your Aid Offer and decide:
- Which loans you want to accept (you can accept less than offered).
- If you want to accept federal work-study.
Accept or decline loans/work-study in CougarNet before July each year to guarantee time to process your loans.
Step 4: Complete Any Extra Requirements
Some aid requires more steps before you get the money:
- SIUE Scholarships: Enrolling in at least 12 credit hours counts as accepting your scholarship. Make sure you meet the award’s terms and conditions.
- Pell Grant: Full award = at least 12 credit hours. Enrollment in fewer hours will reduce the award.
- MAP Grant: Full award = at least 15 credit hours. Enrollment in fewer hours will reduce the award.
- Federal Work-Study: You must apply for and be hired into a campus job. Learn how to apply here.
- Federal Direct Loans (Subsidized/Unsubsidized): First-time borrowers must:
- Sign a Master Promissory Note (your loan contract).
- Complete Entrance Counseling (online tutorial).
- Complete the Annual Student Loan Acknowledgement.
- Parent PLUS or Grad PLUS Loans: Apply online, pass a credit check, and complete a Master Promissory Note and Annual Loan Acknowledgement.
- Alternative Loans: Choose your lender, complete their process, and the lender will send the loan to SIUE.
Note: Most awards are split evenly between fall and spring. Summer aid is offered separately after you enroll for summer.
Step 5: Get “Financially Cleared”
You are financially cleared when:
- Your confirmed financial aid covers your entire balance, OR
- You’ve paid the remaining balance/installment to the Bursar (you are current).
How to check if you’re cleared:
- SIUE App: Go to At a Glance → Financial Clearance.
CougarNet: Go to Student Bill for your term and look for “Cleared” or “Not Cleared.”
Step 6: Stay Eligible
At the end of every term, SIUE checks Satisfactory Academic Progress (SAP) for all students — even if you didn’t use aid that term. You’ll be notified if you’re not meeting requirements.
