Step-by-Step Tutorials for Students and Parents
As a loan borrower, there are multiple requirements you will have to complete throughout your academic career for both the student and parent borrower. Below you will find step-by-step tutorials for completing the various requirements on the federal website. These tutorials will help walk you through how to complete a requirement step-by-step in demo view. They are designed for you to follow along with the video while you are filling out your loan paperwork. It is just like having a financial aid counselor sitting down with you at the computer to go over it.
Subsidized/Unsubsidized Loan Entrance Counseling
If you have not previously received a Direct Loan or Federal Family Education Loan (FFEL), the Federal Government requires you to complete entrance counseling to ensure that you understand the responsibilities and obligations you are assuming.
This is a one time requirement for first time loan borrowers.
Subsidized/Unsubsidized Loan Agreement Master Promissory Note
The Master Promissory Note (MPN) is a legal document in which you promise 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 your loan(s). The MPN is a one time requirement for new loan borrowers as it is good for 10 years. You will have to complete a new one if your MPN expires before you finish your academic career.
Direct Parent PLUS Loan Application
This is a request for supplemental information in connection with your application for a Federal Direct PLUS Loan (Direct PLUS Loan) through the William D. Ford Federal Direct Loan (Direct Loan) Program. The Direct PLUS Loan Application allows you to authorize the school to use your loan funds to satisfy other educationally related charges after tuition and fees, and room and board have been paid. You are not required to provide this authorization. The application needs to be completed each academic year you wish to borrow the parent loan.
PLUS Master Promissory Note for Parents
The Master Promissory Note (MPN) is a legal document in which you promise 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 your loan(s). The MPN is a one time requirement for new loan borrowers as it is good for 10 years. The MPN needs to be completed by the same parent who completed the PLUS application.
Blurb underneath: Exit counseling provides important information to prepare you to repay your federal student loan(s). If you have received a subsidized, unsubsidized or PLUS loan under the Direct Loan Program or the FFEL Program, you must complete exit counseling each time you: drop below half time (6 credits) enrollment, graduate, or leave school.