The financial aid counselor will monitor the processing of the loan to insure quick guarantee and disbursement. The party that provides the student loan, such as a bank, a college, or another organization. Borrower - The person who takes a loan. Guaranty Agency - An organization that has an agreement with the US Secretary of Education to administer the Federal Family Education Loan Program. The agency may be either part of a state government or a private nonprofit agency.
Financial aid is divided into gift aid and self-help aid.
Gift aid is any type of aid that does not have to be repaid, such as scholarships and grants. Self-help aid includes loans and college work study. This form is available from high schools, community colleges, libraries and the Newman University Financial Aid Office. Newman University's federal ID code is 001939. Usually, these can be completed in 30 minutes or less by the Newman University Financial Aid Office.