Step 1:Complete the Federal Direct Loan Entrance Counseling Online
Students are asked to review the terms and conditions of the Direct Loan program and then are required to complete an exam which asks a series of questions related to the loan program, repayment, the student’s responsibilities as a loan borrower, etc. It is important for the student to complete this process to ensure the understanding of borrowing federal funds.
Step 2:Complete the Federal Direct Loan Master Promissory Note Online
Students are required to sign a Federal Direct Loan Master Promissory Note (MPN). The MPN is a signed*contract between the student and the U.S. Department of Education stating that the student understands the terms and responsibilities of borrowing from the Federal Direct Loan program and agrees to the repayment terms and conditions. All first time MSOE Federal Direct loan recipients who have received a Financial Aid Award Offer and have accepted the Federal Direct Loan(s) are required to complete the online Federal Direct Loan Entrance Counseling and to sign a Federal Direct Loan Master Promissory Note prior to the school receiving the funds.
Students Leaving MSOE: Complete the Direct Loan Exit Counseling Online
Accessing/Finding Your Federal Student Loans Students will be able to access their payment information, find their lender’s/servicer’s contact information, and review their rights and responsibilities online at National Student Loan Database System. All borrowers leaving MSOE or graduating from MSOE are required to complete the Federal Direct Loan Exit Counseling. At any time, you are welcome to visit our office for information regarding your loan totals or you can contact us at email@example.com.