Anderson, Indiana

Apply for Direct Loans

Mon, 2013-03-11 16:39 -- univcomm

Applying for Direct Loans

Anderson University notifies students of their direct loan eligibility in the financial aid award letter.

  • Federal Direct Subsidized and Unsubsidized loans are borrowed by the student.
  • Federal Direct PLUS loans are borrowed by the parent(s) on behalf of the student.

STUDENTS - Federal Direct Subsidized and Unsubsidized Loans

First-time student borrowers must complete two steps to receive direct loan funds.

  1. Complete online Entrance Counseling. Entrance counseling is an interactive 30 minute session that the student borrower must complete.
    • The U.S. Department of Education requires that every student complete Entrance Counseling the first time they borrow a federal direct loan.
    • If students who borrowed transfer from one university to another, Entrance Counseling does not need to be repeated. Likewise, graduate students who previously borrowed direct loans as undergraduates do not need to repeat Entrance Counseling.
  2. Sign a Master Promissory Note (MPN). The MPN must be completed one time and is valid for up to 10 years.
    • Transfer students must update an existing MPN with the appropriate school code.
    • The MPN is a legal document in which students promise to repay their loan(s) and any accrued interest and fees to the U.S. Department of Education.
    • The MPN explains the students’ rights and responsibilities as first time borrowers.
    • Student borrowers must complete an MPN using their own Federal Student Aid PIN.

Request a lesser amount, change the amount you want to borrow, or decline the loan altogether.

Learn more about the difference between Subsidized and Unsubsidized loans, interest rates, repayment terms, and lifetime loan limits. .


Questions or concerns? Please email the Office of Student Financial Services at sfs@anderson.edu or call (800) 421-1026.