First time Direct Loan borrowers will need to complete both entrance counseling and a Master Promissory Note (MPN) through www.studentloans.gov before any loan funds will be disbursed to the College of Health Care Professions. You will be required to use your Department of Education issued PIN. A parent borrower must also request a PIN from the PIN site to use when completing a PLUS MPN.
Except for parent Direct PLUS loan borrowers, if you haven't previously received a loan, you must complete entrance counseling. This will help you understand your rights and responsibilities. It also explains interest rates and the different types of loans available.
Master Promissory Note
The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan. In most cases, once you've submitted the MPN and it has been accepted, you won't have to fill out a new MPN for future loans you receive. You can borrow additional Direct Loans on a single MPN for up to ten years. The entire MPN process generally takes thirty minutes to complete and must be completed in a single session.
Parent PLUS loans
When you apply for a Direct PLUS loan, The College of Health Professions will require the completion of a Parent PLUS Preapproval Application to check your credit history. To be eligible to receive a PLUS loan, you must not have an adverse credit history. You may still be eligible to receive a Direct PLUS Loan if you obtain an endorser or cosigner who does not have an adverse credit history. An endorser is someone who agrees to repay the Direct PLUS Loan if you do not repay the loan. The endorser cannot be the student on whose behalf a parent is obtaining the loan.