Marlboro College

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.

Requirements:

  1. Master Promissory Note (MPN)
  2. Federal Stafford Loan Entrance Counseling

How do I complete my MPN?

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?

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.

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