What happens after I’ve submitted my loan request?
Your direct loan request will be processed after we have determined that:
- you have filed a FAFSA for the current academic year;
- the information you provided on your FAFSA is correct;
- you have registered for at least 6 credits or the equivalent;
- you have resolved all the loan related items on the “To Do” list in your Student Center.
Once your request has been submitted to the U.S. Department of Education, you will receive a Loan Disclosure Statement that summarizes the type of loan you’ve asked for, the approved loan amounts and the estimated dates of disbursement.
Your electronic Master Promissory Note (e-MPN) must be acknowledged and approved by the Dept. of Education before any funds can be authorized for disbursement.
In most cases, you are not required to sign a new MPN for future or additional loan requests. The MPN already on file will be used for subsequent year loan borrowing under the Federal Direct Loan program. You always have the option of resigning your MPN every time you borrow but it is not a requirement.
Note: there is one instance where you will have to sign a new MPN. If you previously signed an MPN that did not result in a disbursement of Direct Loan funds, you must resign your MPN for subsequent loan requests.