Offices Applying for Federal Direct Stafford Loans
Federal Direct Stafford loans are student loans that can help cover the cost of your college education at Marlboro. All Stafford loans must be borrowed through the Federal Direct Loan Program (officially known as the William D. Ford Federal Direct Loan Program). Your lender will be the U.S. Department of Education. If you have been awarded federal student Stafford loans in your financial aid package, and you did not borrow last year, the following information will assist you with the required steps that will lead to disbursement of your loans should you chose to accept them.
- Master Promissory Note (MPN)
- Federal Stafford Loan Entrance Counseling
Why is a master promissory note (MPN) needed for my Stafford loan?
A master promissory 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 are borrowing a federal student Stafford loan you must complete a MPN.
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)
- 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.
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
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 July 1 for both the MPN and entrance counseling concerning loans to take affect the next academic year.