Frequently Asked Questions
You are sure to have questions about financial aid. Here are some frequently asked questions to provide answers.
Q: How do I contact the Office of Financial Aid?
Answer: The Office of Financial Aid is an important resource for you. Visit us in the Student Union Building, Suite 230, on main campus during office hours. No appointments are necessary; however, if you are visiting from out-of-town we strongly encourage you to schedule an appointment.
A list of financial aid staff and counselors, with their contact information, is available online.
General contacts:
Email: financialaid@lincoln.edu
Main phone numbers: 484-365-8000 ext. 7564 (or 7810) or toll-free 800-561-2606
Fax: 484-365-8198
Q: What is the deadline for applying for the Free Application for Federal Student Aid (FAFSA)?
Answer: Because we have rolling admissions, you can apply at any time. However, students who complete a FAFSA by our priority filing date of April 1 will be considered first for financial aid.
Q: How do I apply for FAFSA?
Answer: Visit the Federal Student Aid website to apply.
Q: What is Lincoln University’s Federal School Code for the FAFSA application?
Answer: Lincoln University's Federal School Code is 003290.
Q: Can I fill out my FAFSA application just once – or do I have to reapply each year?
Answer: Your FAFSA application must be updated or renewed each academic year to continue receiving financial aid. Visit the Federal Student Aid website to submit either your new or renewal FAFSA.
Q: Do I only need to fill out a FAFSA application to apply for any type of financial aid?
Answer: No. Other types of aid, scholarships, or grants may require a separate application through the specific department or organization providing the aid.
Q: What are Federal Loan processes and why do I need to complete them?
Answer: Federal Loan processes are required to complete by the Department of Education before those funds can be disbursed to your account. These include the Master Promissory Note (MPN), Loan Entrance Counseling (LEIC), and the Annual Student Loan Acknowledgement (ASLA).
Q: How do I complete the MPN?
Answer: Log on to studentaid.gov or download the MyStudentAid app from the App Store or GooglePlay to begin. Click on "Sign Your Master Promissory Note (MPN)" on the FSA Dashboard and then click "Start" next to the MPN for your specific loan.
Q: How do I complete the Loan Entrance Counseling?
Answer: Log on to studentaid.gov or download the MyStudentAid app from the App Store or GooglePlay to begin. Under "Checklists" click the drop-down for "I'm in School" and then select "Complete Entrance Counseling." You'll click "Start" under "Entrance Counseling" to begin. Make sure you notify Lincoln University at 003290 and select Undergraduate or Graduate based on admission status. Don't forget-- you can use your financial assistance letter as a guide!
Q: How do I complete the Annual Student Loan Acknowledgement?
Answer: Log on to studentaid.gov or download the MyStudentAid app from the App Store or GooglePlay to begin. Click on "Complete the Annual Student Loan Acknowledgement" on the FSA Dashboard and then click "Start" next to "What am I acknowledging?"
Q: How do I complete the Annual Student Loan Acknowledgement?
Answer: Log on to studentaid.gov or download the MyStudentAid app from the App Store or GooglePlay to begin. Click on "Complete the Annual Student Loan Acknowledgement" on the FSA Dashboard and then click "Start" next to "What am I acknowledging?"
Q: My parent wants to apply for the Parent PLUS Loan. Where can they do that?
Answer: Your parent can complete the Parent PLUS Loan on studentaid.gov by logging in with their own FSA ID and password. They may need to create a FSA ID if they do not already have one. From there, under the "Parent" tab, your parent can select "Apply for a Direct PLUS Loan" and click the "Start" button next to "Direct PLUS Loan Application for Parents." Your parent will get an instant decision at the end of the application letting them know if they have been approved or denied.
- If your parent has been approved for the PLUS Loan, they must complete the PLUS MPN (Master Promissory Note) and the Annual Student Loan Acknowledgement.
Q: What is verification and why was I selected?
Answer: Federal verification is a process that requires institutions to verify the accuracy of the information provided on a student's FAFSA to ensure federal aid is distributed to those who are eligible. Students selected for verification are done so through random selection by the Department of Education. If you have been selected, you are required to provide documentation to the school verifying the information entered on your FAFSA. If you choose not to, or fail to submit verification documents, we will be unable to complete the review of your eligibility for federal financial aid.
To complete verification you must submit the following items:
- A completed 2022-2023 Verification Worksheet
- A copy of the student's 2020 Tax Return Transcript, if the IRS Data Retrieval Tool (DRT) was not used.
- A copy of the student's 2020 non-filing statement from the IRS, if applicable.
- If the student worked, but did not file, they must submit copies of all 2020 W-2 forms.
- A copy of the parent(s) 2020 tax return transcript, if the IRS Data Retrieval Tool (DRT) was not used.
- A copy of the parent's 2020 non-filing statement from the IRS, if applicable.
- If the parent worked, but did not file, they must submit copies of all 2020 W-2 forms.
All Tax Return Transcripts and Non-filing Statements can be requested at irs.gov.