Frequently Asked Questions

Collapse Section Button Master Promissory Note

What is a Master Promissory Note (MPN)?

The MPN is a promissory note that can be used to make one or more loans for one or more academic years (up to 10 years). There are two types of MPNs in the Direct Loan Program: one for Direct Subsidized/Unsubsidized Loans and one for Direct PLUS Loans.

If you are an undergraduate student borrower or a graduate/professional attending a school that is authorized and chooses to make multiple loans under the same MPN for more than one academic year, you may be required to sign only one MPN for all of your Direct Subsidized Loans and Direct Unsubsidized Loans. If you enroll in college as a freshman and borrow under the Direct Loan Program for all years of study, you may be able to borrow under this one MPN for all academic years.

If you are a graduate/professional student borrower attending a school that is authorized and chooses to make multiple loans under the same MPN for more than one academic year you may be required to sign only one MPN for all of your Direct PLUS Loans. You may be able to borrow under this one MPN for all academic years of graduate/professional study.

If you are a parent borrower whose child is attending a school that is authorized and chooses to make multiple loans under the same MPN for more than one academic year, you may be required to sign only one MPN for all of your Direct PLUS Loans. You may be able to borrow under this one MPN for all academic years of that child's undergraduate study. Note: Parents must sign an MPN for each child for whom they are borrowing.

What if I do not want to complete an MPN electronically?

To complete a paper MPN, contact the school's financial aid office.

How do I complete an electronic MPN?

To complete an electronic MPN:

  • From the StudentLoans.gov home page, click on the "Sign In" button located in the "Manage My Direct Loan" box. The Sign In page will appear.
  • Once signed in, click on the "Complete MPN" option located under the "Master Promissory Note" heading on the left menu bar. The Master Promissory Note (MPN) page will appear.
  • Select the type of loan you would like to receive.
  • Follow the instructions to complete, sign, and submit your MPN.

What do I do after I have completed a Master Promissory Note?

Your school's financial aid office will be notified of the completion and will contact you if further action is needed.

Before your loans are disbursed, you will receive a disclosure statement from us.

To view your submitted Master Promissory Notes (MPN), go to the MyProfile page and select "Completed MPNs" under "My Loan Documents."

Will I be able to save my electronic MPN prior to submitting it and return at a later time to complete it?

No. You will need to complete the entire electronic MPN process in a single session. If you exit the web site before submitting your signed MPN and return later, you will have to start over from the beginning of the process.

Expand Section Button Direct PLUS Loan Requests

What is a Direct PLUS Loan for parents?

Direct PLUS Loans are unsubsidized loans available to parents of dependent students to help pay for educational expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods.

Parents completing a PLUS eMPN or Direct PLUS Loan Request must use their own PIN number, and not their child's PIN number.

What is a Direct PLUS Loan for graduate/professional students?

Direct PLUS Loans are unsubsidized loans available to graduate/ professional students to help pay for educational expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods.

How do I apply?

First time borrowers must submit a Master Promissory Note (MPN). Your school also may require you to complete a Direct PLUS Loan Request. You can complete both the MPN and Direct PLUS Loan Request at this site.

Parents completing a PLUS eMPN or Direct PLUS Loan Request must use their own PIN number, and not their child's PIN number.

What are the Direct PLUS Loan eligibility requirements?

Parent Borrowers of a Direct PLUS Loan:

  • Must be the biological or adoptive parent of a dependent undergraduate or the spouse of the parent whose income and assets were reported on the Free Application for Federal Student Aid (FAFSA), or would be reported if a FAFSA were filed.
  • Must not have an adverse credit history or must obtain an endorser. (An endorser is someone who agrees to repay a Direct PLUS Loan if the borrower does not repay the loan.)
  • And their dependent child:
    • Must be a U.S. citizen or eligible noncitizen
    • Must not be in default on any federal education loans or owe an overpayment on a federal education grant
    • Must be enrolled at least half-time at a school that participates in the Direct Loan Program and meet the general eligibility requirements for the Federal Student Aid programs, including filing a FAFSA

Graduate/Professional Student Borrowers of a Direct PLUS Loan:

  • Must be enrolled at least half time at a school that participates in the Direct Loan Program and meet the general eligibility requirements for the Federal Student Aid programs, including filing a FAFSA.
  • Must be a U.S. citizen or eligible noncitizen,
  • Must not be in default on any federal education loans or owe an overpayment on a federal education grant.
  • Must not have an adverse credit history or must obtain an endorser. (An endorser is someone who agrees to repay a Direct PLUS Loan if the borrower does not repay the loan.)

Where do I find an incomplete Direct PLUS Loan Request?

To return to an incomplete Direct PLUS Loan Requests, go to the MyProfile page and select "Direct PLUS Loan Requests" under "My Loan Documents."

What do I do now that I have completed a Direct PLUS Loan Request?

Contact your school's financial aid office if you have questions regarding your Direct PLUS Loan.

To view your submitted Direct PLUS Loan Requests, go to the MyProfile page and select "Direct PLUS Loan Requests" under "My Loan Documents."

Expand Section Button Credit Check

Does my debt to income ratio, credit score, or employment status count against me?

These factors are not taken into account when your credit history is reviewed. A lack of credit is not considered adverse credit.

What is considered "Adverse Credit"?

Adverse Credit Conditions include but are not limited to:

  • Bankruptcy (Chapters 7,11, or 12 within the past 5 years).
    Note: Department Policy does not consider Chapter 13 bankruptcy as adverse credit.
  • Voluntary surrender within the last 5 years.
  • Repossession within the last 5 years.
  • Foreclosure proceedings started.
  • Foreclosure within the last 5 years.
  • Deed in lieu of foreclosure.
  • Accounts currently 90 days or more delinquent.
    • Unpaid collection accounts.
    • Charge offs/write offs.
  • Wage garnishment within the last 5 years.
  • Defaulted loan that has been claim paid.
  • Lease or contract terminated by default.
  • County/State/Federal tax lien, within the past 5 years.

What are my options when I am declined?

You may either obtain an endorser, or you may choose to document extenuating circumstances relating to the reason you were declined.

Contact the school's financial aid office as soon as possible to let them know whether you plan to pursue a Direct PLUS Loan by obtaining an endorser or submitting documentation of extenuating circumstances.

If you decide not to pursue a Direct PLUS Loan, the school's financial aid administrator may be able to provide information concerning other options to assist you with paying for your or the student's education.

Obtain an Endorser

An endorser is someone who does not have an adverse credit history and agrees to repay the loan if you do not repay it. If you are a parent borrower, the endorser may not be the student on whose behalf you are requesting the Direct PLUS Loan.

If you choose to obtain an endorser, the endorser may complete the endorser addendum on our secure StudentLoans.gov Web site. To complete the endorser addendum online, the endorser will need the Loan Reference Number (if you completed a Direct PLUS Loan Request) or Loan/Award Identification Number and a Federal Student Aid (FSA) PIN. If you completed a Direct PLUS Loan Request, the Loan Reference Number may be found in the confirmation email you received or may be found by logging in to the StudentLoans.gov Web site and selecting "Direct PLUS Loan Requests" located on the left navigation bar. If you did not complete a Direct PLUS Loan Request, the Loan/Award Identification Number may be obtained from the school. If the endorser does not have an FSA PIN, they may obtain one by visiting the FSA PIN Web site at www.pin.ed.gov.

Document Extenuating Circumstances

Document to the satisfaction of the U.S. Department of Education that:

  • The information causing the adverse credit decision is incorrect or has been corrected.
  • OR
  • There are extenuating circumstances relating to the adverse credit history. (Note: Endorsers aren't eligible for this option.)

If I am declined and decide to document extenuating circumstances, how long will this process take?

After you submit your request to document extenuating circumstances, Applicant Services will contact you. Once all documentation has been received, a determination will be made and provided to you within 7-10 business days.

How do I begin the process of documenting extenuating circumstances?

If you believe there are extenuating circumstances related to the adverse credit information that should be considered in evaluating your eligibility for a Direct PLUS Loan, you may begin the process in one of two ways:

  1. Log in to StudentLoans.gov and select "Document Extenuating Circumstances" on the left navigation bar. Follow directions. Applicant Services will contact you with further instructions.
  2. Contact Applicant Services between 8:00 AM to 8:00 PM, Eastern Time, Monday through Friday. Applicant Services may be reached toll-free, at 1-800-557-7394.

Expand Section Button Entrance Counseling

What is Direct Loan Entrance Counseling?

Direct Loan Entrance Counseling explains the obligations you agree to meet as a condition of receiving a Direct Loan.

Who must complete Direct Loan Entrance Counseling?

If you are a student and have not previously received a Subsidized/Unsubsidized Loan or PLUS Loan (graduate students only) under the Direct Loan Program or Federal Family Education Loan (FFEL) Program, you must complete loan counseling for that loan type before receiving a loan to ensure that you understand your responsibilities and the obligations you are assuming.

Note: The FFEL Program ended July 1, 2010 and no new loans have been made under the FFEL Program after that date.

How do I complete Direct Loan Entrance Counseling?

To complete Entrance Counseling for Direct Subsidized/Unsubsidized Loans and Direct PLUS Loans, sign into this web site using your Federal Student Aid PIN. Select the "Complete Entrance Counseling" option found in the left navigation bar and follow the directions.

Will I be able to save my Direct Loan Counseling session and return at a later time to complete it?

No, your progress will not be saved if you navigate away from your Direct Loan Counseling session or logout of the StudentLoans.gov Web site.

Expand Section Button Financial Awareness Counseling

What is Financial Awareness Counseling?

Financial Awareness Counseling provides tools and information to help you understand your financial aid and assist you in managing your finances. Topics include:

  • Understand Your Loans
  • Manage Your Spending
  • Plan to Repay
  • Avoid Default
  • Make Finances a Priority

Who can benefit from completing Financial Awareness Counseling?

Anyone who is currently paying for or planning to pay for higher education.

How do I access Financial Awareness Counseling?

There are two ways to access Financial Awareness Counseling:

  1. Sign-in to StudentLoans.gov using your Federal Student Aid PIN and select the "Complete Financial Awareness Counseling" option on the left hand navigation bar.

    If you sign in, you will be able to:
    • See your student loan information available in the National Student Loan Data System (NSLDS).
    • Notify schools of completion.
    • View proof of completion.
  2. Click on the Financial Awareness Counseling link on the StudentLoans.gov home page.

Will I be able to save my Financial Awareness Counseling session and return at a later time to complete it?

No, your session will not be saved if you navigate away from your Financial Awareness Counseling session or logout.

Expand Section Button IBR Applications

Expand Section Button Other

Who do I contact to get more information regarding my Loan Status?

Because your school determines your loan eligibility, contact your school's financial aid office to receive the most up to date information regarding your loan status.

Once you receive the first disbursement of your loan, contact your loan servicer with repayment questions.

Who do I contact to get more information regarding Loan Repayment, Deferment or Forbearance?

Contact your loan servicer if you have questions regarding Loan Repayment, Deferment, or Forbearance. Select "Additional Information" on the "Contact Us" page, or click here to access the list of servicers and their contact information.

How do I make payments on my loan?

Contact your loan servicer with questions about repayment.

Who is my Loan servicer?

Direct Loan borrowers are assigned a loan servicer after the first disbursement of their loan. Your loan servicer will contact you directly after you receive your first disbursement. Contact your loan servicer with questions about repayment. For a list of loan servicers, select "Additional Information" on the "Contact Us" page to access the list of servicers and their contact information or click here.

What if I do not have a Federal Student Aid PIN?

If you do not have a Federal Student Aid PIN, visit www.pin.ed.gov.