• U.S. citizens and permanent residents: ONLY students with U.S. citizenship or permanent residency may apply for federal student loans. 
• International students: International students are NOT eligible for federal loan programs, but may borrow from private sources or apply for private student loans through banks, credit unions, or other lending institutions.

The Graduate School can only certify loan amounts for essential educational expenses up to the cost of attendance, and less student resources. Expenses such as car payments or vacation travel are not usually considered essential. To qualify for federal loans, the cost of attendance must be higher than the financial aid a student receives. 

Taking marital status, number of dependents, and expenses associated with living on- or off-campus into account, the Graduate School determines eligibility for student loans according to a federal formula: 

Federal Loan Eligibility = Cost of Attendance minus Financial Aid from Princeton and other sources.

• Cost of Attendance: This includes tuition, housing, food, books, and other expenses for one academic year. Note: The actual cost of attending Princeton University may differ from the estimated Cost of Attendance used to determine eligibility for student loans.
• Expected Family Contribution: This is calculated based on information provided on the Free Application for Federal Student Aid (FAFSA).
• Financial Aid from Princeton and Other Sources: Includes department aid, internal fellowships, external funding, stipends, and Assistantships in Instruction and Research.
• Students may request an adjustment to their cost of attendance based on special circumstances. Special circumstances refer to the financial situations (loss of income, etc,) that justify an aid administrator adjusting data elements in the cost of attendance.

To help finance your Princeton University education with federal student loans (Direct Unsubsidized and/or PLUS), please follow the steps in the order outlined below.

1. Complete the FAFSA online using the IRS Data Retrieval Tool. 
   • The FAFSA (Free Application for Federal Student Aid) is used to determine your contribution toward your educational expenses. Princeton University’s Federal School Code on FAFSA is: 002627. 
   • Information from your federal tax return must be electronically transferred directly from the IRS into your FAFSA using the “IRS Data Retrieval Tool” in order to receive federal financial assistance from Federal Student Loan and/or Federal Work Study programs. 
   • Do not make any corrections to the information transferred from the IRS into your FAFSA.
2. Complete the Princeton University Graduate School Preliminary Loan Application. 
   • You must complete your tax return and FAFSA before submitting your Preliminary Loan Application (available after July 1st). 
   • New incoming (G1) students and those returning to active status on September 1 may be unable to submit the Preliminary Loan Application until September 1. This will not delay processing of your loan application nor affect your eligibility.
3. Complete Entrance Counseling. 
   • Visit Studentloans.gov and sign in using your Federal Student Aid PIN. 
   • Select "Complete Entrance Counseling" and follow the Entrance Counseling instructions. 
   • If you have previously borrowed to help finance your Princeton University graduate school education, you do not need to complete entrance counseling every year.
4. Complete Master Promissory Note. 
   • After you have completed entrance counseling, select "Complete Master Promissory Note" and follow the instructions to complete your Master Promissory Note. 
   • Your Master Promissory Note must be completed every year you apply for federal loans.

If you submit your FAFSA prior to filing your tax return, you must correct and update your FAFSA using the Data Retrieval Tool by following the steps below.

1. Visit www.fafsa.gov. Select "Login" and enter the required student information.
2. Select “Make Correction.” If you are updating an earlier FAFSA, select "Make Correction" and enter the student's FAFSA PIN and password.
3. Follow the instructions. 
   • Continue through the steps until reaching the "Student Financial Information" screen.
   • Under the "IRS Data Retrieval" section, enter the student PIN. Select "Link to IRS".
   • Enter the address and tax filing status exactly as it appears on the tax return. Select "Submit".
   • Review the tax information, but DO NOT change any data. Select "Transfer my Tax Information to the FAFSA" and then "Transfer Now".
   • A message will confirm that the information was transferred.
4. Submit your correction. 
   • Continue through the remaining sections of the FAFSA and select "Submit". 
   • Once you have submitted the revised FAFSA, you will receive a confirmation email.
5. Notify us. Please notify our office via email that your FAFSA has been successfully submitted using the IRS Data Retrieval Tool.