CHECK STATUS OF LOAN APPLICATION**
**If there is not a link to "Check Loan Status" once you have signed in, then you have not completed the Online Loan Process, continue to the SimpleTuition Website.
TO RECIEVE UNDERGRADUATE STAFFORD LOAN:
- Must complete FAFSA
- Must complete Admissions File
- Must complete eligible or ineligible Pell Grant File
- Must complete and return Wallace State's Loan Profile and signed Award Letter
- The loan office will process your Loan Profile in accordance with federal regulations. Academic progress is checked and loan amounts are certified in accordance with federal regulations.
- Borrowers must go to www.simpletuition.com/wallacestate to complete the Entrance Counseling and E-Signature of MPN (Master Promissory Note).
EXIT COUNSELING
(Link Provided Above) is required of any student that drops below half-time (<6hrs), graduates, withdraws, or loses eligiblity for other reasons. Students withdrawing below half-time will need to complete Withdrawing Student's Procedures and Responsibilities Form. Allow 30-45 minutes to complete Exit Counseling.
IF YOUR LENDER IS NOT ON SIMPLE TUITION:
The Financial Aid Office encourages borrowers to compare lenders to make an informed choice. Borrowers can choose any Stafford/PLUS lender that participates in the FFELP (Federal Family Education Loan Program) and any lender available for a private signature loan.
If the lender of your choice is not listed on www.simpletuition.com/wallacestate, you must provide the name and the 6-digit lender ID on your Loan Profile. If the lender you choose does not process through our guarantor's normal process there could be a delay in funds disbursement. If your funds are sent by paper check, your endorsement will be needed before disbursement.
During Peak Financial Aid Times- Allow 3-4 Weeks Processing Time on Stafford Loans
