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Complete Loan Requirements

For many students, loans have become a necessary component of financing their educational expenses. Loans, by definition and regulation, must be repaid and therefore should be used sparingly and wisely. If you accept a loan you are responsible for repaying the loan plus interest. Remember that the more you borrow the higher the monthly repayment will be, so only take as much loan money as you will need.

Federal Direct Subsidized/Unsubsidized Loan Requirements

If you are accepting Federal Direct Loans for the academic year, and have not borrowed previously, you MUST complete the following steps:

STEP I. Federal Direct Loan Entrance Counseling 

This interactive counseling session provides useful tips and tools to help you develop a budget for managing your educational expenses and helps you to understand your Direct Loan responsibilities. 

  1. Go to https://studentaid.gov/  click Log In in the upper right corner. Log in with your FSA ID and password. If you do not have an FSA ID and password, Click Create an Account and follow the prompts (once created, return to studentaid.gov and log in). Supported web browsers include:  Chrome, Microsoft Edge, Firefox or Apple Safari.  If you do not use a browser that is supported, your view and interaction with the site will be impaired.
  2. On the Dashboard – go to MY CHECKLISTS, I’M IN SCHOOL and click the drop down arrow. (See screen images below)
  3. Click Complete Entrance Counseling (about 30 minutes to complete). Click START and continue all the way through.

STEP II. Federal Direct Loan Master Promissory Note

This loan document must be submitted in order to receive funds from this program. Once a disbursement is made this Master Promissory Note is valid for 10 years. 

  1. Go to https://studentaid.gov/  click Log In in the upper right corner. Log in with your FSA ID and password. If you do not have an FSA ID and password, Click Create an Account and follow the prompts (once created, return to studentaid.gov and log in). Supported web browsers include:  Chrome, Microsoft Edge, Firefox or Apple Safari.  If you do not use a browser that is supported, your view and interaction with the site will be impaired.
  2. On the Dashboard – go to MY CHECKLISTS, I’M IN SCHOOL and click the drop down arrow.
  3. Click on ‘Complete Loan Agreement’ and then next to MPN for Subsidized/Unsubsidized Loans (the first type listed) click “START” button.