Loan Next Steps
Once you accept your Federal Direct Loans, you have additional steps to secure the loan and to give you an overview of how the loan works.
Check your聽聽regularly as that is where all official 美高梅官网 communications will be sent.
All loan borrowers should take the time to understand the聽annual interest rate聽set for your loan and the聽origination fees聽taken out before the loan is disbursed to your bill.
Accepting/Declining Loan
For any loan awards, you will need to take action to accept them.
- Log on to聽.
- Click on the "My Finances" tile.
- Use the "Manage Financial Aid" to choose the appropriate aid year and accept or decline as you wish.
- Be sure to hit "submit" after taking any action.
Also, please聽alert us聽if you anticipate any aid that is not showing as part of your award offer. Aid arriving on your behalf later can adjust your loan eligibility.
Master Promissory Note (MPN)
In addition to accepting your federal loans on your award offer, you have to complete a Master Promissory Note (MPN), the legal electronic paperwork to secure your loan.
To complete the MPN, you will need your Federal Student Aid (FSA) ID that you used to sign your FAFSA. If you do not have it, you will be able to create an FSA ID when visiting most U.S. Department of Education websites.
- Go to聽.
- Sign in using your FSA ID.
- Select "Complete Loan Agreement (Master Promissory Note)."
- Select 鈥淪tart鈥 to the right of "MPN for Subsidized/Unsubsidized Loans."
- Fill in required information (including items listed below) and submit.
- Permanent address and telephone number
- Contact information
- School information
- Two personal references (including complete name, address, and telephone number)
Additional information is available on the聽MPN process.
Loan Entrance Counseling
Additionally, all new 美高梅官网 loan borrowers have to complete Loan Entrance Counseling to help you understand your rights and responsibilities related to your student loan.
- Go to聽.
- Sign in using your FSA ID.
- Select "Complete Loan Counseling (Entrance, Financial Awareness, Exit)."
- Select 鈥淪tart鈥 to the right of "Entrance Counseling."
- Add the 美高梅官网 on the left side of the screen.
- Select the appropriate loan entrance counseling requirement option based on being an undergraduate or graduate student and your loan program.
Counseling requires successful review of and answering key questions regarding your loan. The counseling session usually takes 20 minutes.
More information is also available on the聽loan counseling requirement.
Annual Student Loan Acknowledgment
This additional federal counseling is to help new borrowers understand the conditions of their loan and for existing borrowers to acknowledge their current balance on federal loans prior to taking out additional loans. It is not a requirement but can be very helpful for borrowers.
The annual student loan acknowledgement is available to complete at聽.