US Direct Loans

You can complete your FAFSA at www.fafsa.ed.gov and enter Bocconi school code G30787.

Your FAFSA produces a Student Aid Report (SAR) which you can view online when you log-in at the FAFSA website.

You must check the “Comments about Your Information” section on your SAR, as you will only be eligible for Federal Loans if you have no issues to resolve. Instructions on resolving issues are provided under the “What you must do now” section on your SAR and you must submit any additional documents (for example, documentation of your citizenship status) if instructed.
Do not proceed to the next step until you have resolved any issues on your SAR.

Send an email to funding@unibocconi.it and attach your SAR (which you should have received after completing the FAFSA online).

Bocconi will send you an award letter in which you will be informed about the maximum amount you may be eligible to borrow in direct loan funds.

You will have to sign and complete this award letter indicating whether you accept to take out a Direct Loan and the amount you wish to borrow (the total amount you are eligible for or less). If you want to borrow more than the maximum amount in Direct Unsubsidized/Subsidized Loan funds you are eligible for, then you must apply for a Graduate PLUS, if you are a postgraduate, or if you are a dependent undergraduate, your parents can apply for a Parent PLUS. If you are an independent undergraduate, you are not entitled to PLUS Loans.

It is a legal requirement that any U.S. student who receives a Federal Loan should first complete the Entrance Counselling at www.studentloans.gov
Remember that you will be required to take a screen shot or attach the completion certificate to your email application.
Simply sign in using the same PIN that you used to complete your FAFSA. The entrance counselling advises you on the different types of loans available, repayment methods and schedules and also makes you aware of any legal requirements of participating in the Direct Loan program.

You must electronically sign a new MPN at a foreign school as the multiple loan feature of the MPN does not apply. Sign in at www.studentloans.gov and e-sign your Direct Loan Master Promissory Note (MPN). Remember that you will be required to send us a PDF of your Direct Loan MPN.

If you are borrowing more than the maximum amount available in Direct Loan funds, you (or your parent if you are a dependent undergraduate) will need to e-sign a PLUS MPN. Remember to send a PDF of your PLUS MPN. PLUS Loans also require a credit check, so you must also complete this under the section “Complete PLUS Request Process” and remember to take a screen shot showing the credit check is “Accepted” or attach the PDF confirmation letter. If the borrower credit check is declined, you will need an Endorser. Remember we will need a screen shot of your endorser’s credit check acceptance and a PDF of the Endorser Addendum. The credit check is only valid for 90 days, so do not complete it until just before you send your application.

Email funding@unibocconi.it with subject “US Loan Application Documents” followed by your full name. You will need to attach:

1. a screenshot or the completion certificate of the Direct Loan Entrance Counselling;
2. a PDF of your Direct Loan MPN
3. a PDF of your PLUS MPN, only  if you/your parents are borrowing a PLUS loan;
4. PLUS correspondence with the outcome of your credit check, if you/your parents are borrowing a PLUS Loan;
5. a scanned copy of your completed and signed award letter;
6. admission/enrollment confirmation letter;
7. If you have been awarded a financial assistance, a document certifying the awarding.
8. only if you are a male: copy of the registration to Selective Service.
   

Please note that you will be required by the Fees, Funding and Housing Office to sign a student agreement summarizing the general conditions attached to the loan before receiving it.

Open your Italian bank account immediately after enrollment so you can provide your bank account details to Bocconi University in order to receive your loan funds.

The school will first apply your loan funds to your tuition, fees and, if you live on campus, room. If any additional loan funds remain, they will be returned to you via bank transfer to an Italian bank account.

Generally, your loan will cover a full academic year and your school will disburse your money in two payments, called disbursements. The first one approximately by the end of October and the second one by the end of March.

You must remain enrolled and inform the Fees, Funding and Housing Office of any changes to your enrollment status as this directly affects your loan entitlement. Each subsequent disbursement is also subject to maintaining Satisfactory Academic Progress (SAP).