Loan Entrance Counseling
Loan Entrance Counseling is required for all students who have elected to accept any portion of the Federal Direct loans. Entrance counseling ensures a student understands the terms and conditions of your loan and your rights and responsibilities. Students will learn what a loan is, how interest works, their options for repayment, and how to avoid delinquency and default. Entrance Counseling takes about 30 minutes to complete and it must be completed in a single session.
- Parents are encouraged to sit with their student to complete this step; however, parents should not complete it for the student do to the fact this reviews information the student will need to know as the borrower of the loan(s).
- Students will need their FSA ID and password to login.
- Complete at https://studentaid.gov/entrance-counseling/
- Information you will need:
- Verified StudentAid.gov account
- School Name(s)
- Financial Aid Offer (this is the letter from your school that outlines your loans, scholarships, and other aid it offered)
- Breakdown of Tuition and Fees
- Deadline for completion is July 1.
Signing the Master Promissory Note
The Master Promissory Note (MPN) for Direct Subsidized Loans and Direct Unsubsidized Loans is a legal document in which a student promises to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of the loan(s). Students may receive more than one loan under an MPN over a period of up to 10 years, as long as the school is authorized to use the MPN in this way and chooses to do so.
- Parents are encouraged to sit with their student to complete this step; however, parents should not complete it for the student do to the fact that this is a legal document the student is signing.
- Students will need their FSA ID and password to login.
- Complete at https://studentaid.gov/mpn/subunsub/landing
- Information you will need,
- Verified StudentAid.gov account
- School Name(s)
- Permanent/Mailing Address
- Contact Information
- Reference Information
- Deadline for completion is July 1.
