Offices Federal Student Stafford Loans for BSMIS Students
All federal Stafford loans must be borrowed through the Direct Student Loan Program (also known as William D. Ford Federal Direct Loan Program). If you have been awarded federal student Stafford loans, and you will be accepting these loans, the following information will guide you through the loan application process and federally required entrance counseling.
Master Promissory Note (MPN)
- Federal Stafford Loan Entrance Counseling
How do I complete my MPN?
- Log onto www.studentloans.gov. In the Manage My Direct Loan section click on Sign In. You will need your social security number, date of birth and PIN from the FAFSA to sign in.
- To obtain information on browser compatibility, on this website refer to the Learn More section and click on What you need for Direct Loans
- Information you (the student) will need to complete your MPN :
- Your PIN from the FAFSA to log-in and electronically sign the MPN
- Your personal information including social security number and your drivers’ license (if you have one)
- o Two personal references including name, complete address, telephone number, relationship to borrower
- Helpful hints:
- You must complete your MPN in 30 minutes or less
- You cannot use the back button
- There is no save option
- If you have questions or encounter problems with the Department of Education website contact them directly at 1-800-557-7394.
Why is a master promissory note (MPN) needed for my Stafford loan?
If you are borrowing a federal student Stafford loan you must complete a master promissory note. This note is your contract; by signing it you are agreeing to repay your loan and abide by the terms and conditions of the loan. If you applied for and borrowed a Stafford loan in the 2010-2011 or 2011-2012 award year you DO NOT need to complete a new Stafford loan MPN. Stafford loan MPN’s are effective for ten years.
Who is required to complete federal Stafford loan entrance counseling?
- All new students borrowing a Stafford loan
- Returning students who have not borrowed a Stafford loan previously
- If you completed entrance counseling for the 2010-2011 or 2011-2012 award year you do not need to complete entrance counseling again.
How do I complete entrance counseling?
Return to the home page at www.studentloans.gov, in the Manage My Direct Loan section click on Entrance Counseling.
Why do I need entrance counseling?
Entrance counseling explains your rights and responsibilities when borrowing a federal student Stafford loan. It is a federal requirement that you complete counseling if you are borrowing a Stafford loan.
Do I have a deadline?
Marlboro College’s deadline is September 7, 2012 for both the MPN and entrance counseling.