Loans: Entrance Interview: Stafford and Graduate PLUS

The following information about Federal Stafford and Graduate PLUS loans is reviewed with groups of students upon initial arrival at the University.

1. Loan Eligibility takes into account your total financial aid package, as itemized on your financial aid award letter.
2. Master Promissory Note (MPN): The amount of the loan is not listed on the MPN because the MPN is for all loans during enrollment across multiple years. The amount borrowed is listed on the Award Letter, on the form you sign at each semester registration, confirmed by the lender at each disbursement, and on the notification sent to you by Student Accounts when the disbursement is paid.
3. Subsidized and Unsubsidized loans: interest is paid for you while you are in school on subsidized loans. For Unsubsidized loans interest accumulates and is capitalized, or you can pay it while in school.
4. In-School Deferment requires half-time enrollment (explain charges, withdrawals, and enrollment status). Exit counseling for loan considerations is required when you depart the University.
5. Estimated Repayment: Note the estimated loan repayment amount on the loan information folder, as well as the lender name and contact information.
6. Federal Student Loans must be repaid, even if you are not satisfied with the education, or you do not graduate, or do not find employment.
7. Default adds additional charges and makes the entire loan due without any payment plan, as well as creates adverse credit problems difficult to overcome. If there are difficulties in repayment, and no deferments available, consult your lender about temporary forbearance.
8. National Student Loan Database can be accessed for information on each of your federal loans, using your FAFSA PIN.
9. Federal Student Loans may be prepaid before the loan payments become due.