Accepting Loans
Accepting Loans
Financial Aid Process - Step 7
Loans are available to help pay for your education. You are not obligated to accept a loan. Similarly, you may choose to accept less than what you are offered. It is your responsibility to keep up to date on your loan portfolio by accessing the National Student Data Loan System. This website will provide you with your loan history and service contact information.
Complete Two Steps to Accept a Federal Direct Loan
All federal loans are processed through the Federal Direct Loan Program.
Students who have never borrowed Federal Direct Loans also need to complete:
Master Promissory Note (MPN) – Master Promissory Note (MPN) is a legal agreement that is valid for ten years and is signed by the borrower. It is considered a multi-year promissory note, meaning once signed, you do not need to sign another note for future Federal Direct Loans.
By signing the MPN, your Federal Direct Loan will be guaranteed, and you will be sent a notice of disclosure. Be sure to verify the amount you have borrowed and retain the Notice of Disclosure for your records. This note must be signed before funds are dispersed.
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