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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.

STEP I. Annual Student Loan Acknowledgement
UPDATE: 3/8/2021 This requirement has been waived by the Department of Education for the 2021-22 academic year.  You must continue to Step II and Step III if you are a first time borrower.

First Time Borrowers

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

STEP II. 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 (FAFSA log in information). Supported web browsers include:  Chrome, Microsoft Edge, Firefox or Apple Safari. 
  2. On the Dashboard – click the dropdown arrow next to MY CHECKLISTS, I’M IN SCHOOL
  3. Click Complete Entrance Counseling (about 30 minutes to complete). Click START and continue all the way through.
STEP III. 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 (FAFSA log in information). Supported web browsers include:  Chrome, Microsoft Edge, Firefox or Apple Safari. 
  2. On the Dashboard – click on the dropdown arrow next to MY CHECKLISTS, I’M IN SCHOOL.
  3. Click on ‘Complete MPN (i.e. Loan Agreement)’.  Then select whether you are an Undergraduate (Click Start) or Graduate student.