In addition to accepting loans as part of your financial aid award, loan borrowers have additional processes that need to be completed in order to have loan funds available.
The promissory note is a legal document. It is your promise to use the money for educational purposes and to repay the loan.
All student and parent borrowers
for Federal Subsidized, Unsubsidized, and PLUS Loans
who have not previously borrowed these funds in
the Direct Loan Program must complete
a Master Promissory Note (MPN).
Borrowers complete the appropriate promissory note for each loan program they accept through the online award process.
New students will need to complete promissory notes. Returning students can always sign onto the individual promissory websites linked below to check to see if they have a completed, active promissory note on file.
- Federal Direct Subsidized and Unsubsidized Loans: MPNs should be completed with the Department of Education (ED) online after accepting the loan. You will have to "log in" using your FSA ID username and password and follow the appropriate links.
- Federal Direct Parent and Graduate PLUS Loans: Parent and graduate student borrowers must pass a credit check when a loan is processed. The credit check is done by completing the online promissory note. "Log in" and links on subsequent pages will walk you through the application (credit check) and MPN processes.
- Federal Perkins, Nursing or Health Professions Loans: Students will complete part of the process online and then will be directed to print, sign, and mail a paper promissory note from the Website. Please select your awarded loan program to complete the appropriate promissory note:
|IMPORTANT NOTICE: As of 5/10/2015, the U.S. Department of Education discontinued the use of the PIN that was used for e-Signatures on the Perkins, Nursing, and Health Professions MPN. While the UC Websites for Nursing and Health Professions Loans you are about to go to still refers to using the PIN, that is not an option.
Please complete your Nursing, or Health Professions MPN using the UC site linked above and print and sign your MPN in order to complete the process.
Students seeking to complete these MPNs can complete the process online but must print and sign a copy of the MPN to bring into One Stop.
Loan Entrance Counseling
First-time UC Subsidized and Unsubsidized Loan borrowers and new Graduate PLUS Loan borrowers also must receive detailed information on the responsibilities of taking out an educational loan prior to the arrival of loan funds. A 20-30 minute online loan counseling session completes this requirement.
If this federal requirement is not met, loan monies received for the student will not be able to be applied to the student bill.
NOTE: Financial Awareness Counseling on the same Website, while a helpful tool with valuable information, is NOT the same as required Loan Entrance Counseling. Be sure to select the appropriate counseling session.
Loans, like other aid, will appear as anticipated aid prior to the start of the term. Ten days prior to the term, funds will begin posting on bills based on eligibility.
While anticipated aid will show simply by accepting loan funds on the award offer, posting to the bill will occur only if you have completed the appropriate promissory note and any required entrance counseling. Loans will be applied to the online bill approximately 10 days prior to the start of each term assuming all steps above have been completed and enrollment deems the student eligible.
Anticipated aid will appear on bills prior to the beginning of a term. Borrowers must ensure they have completed loan counseling and promissory notes in order to make these estimates a reality. Students must also be in good academic standing and be registered for at least half-time (or co-op) to be eligible for their loan funds for the term.