Counselling and Master Promissory Note
Entrance and Exit Counselling
Federal regulations dictate that all students taking out Federal loans must receive Entrance and Exit Counselling.
- Entrance Counselling MUST be completed online on the US Department of Education website before we can approve your loan. You will need your Federal Student Aid pin to gain access.
- It is also a federal requirement that you complete Exit Counselling prior to the completion of your course. This can also be completed on the studentloans.gov website or on the National Student Loan Data System (NSLDS) Student website.
- Both counselling sessions help you to understand your rights and responsibilities as a borrower and they MUST be completed each year.
Your Loans will not be approved before we receive proof that you have completed Entrance Counselling
Your final loans disbursement will not be activated until we receive proof that your Exit Counselling has been completed
Financial Awareness Counselling
Financial awareness counselling can be found on StudentLoans.gov and is voluntary. We highly recommend that you complete the counselling so that you are confident in managing your student loans.
The counselling includes the following modules:
Understand Your Loans
Manage Your Spending
Plan to Repay
Make Finances a Priority
Does not replace Entrance Counseling requirement
Master Promissory Note (MPN)
- The MPN must be completed and signed for each loan type a student borrows every year. If you have completed an MPN for previous loans or have signed a ‘multi’ year MPN these are not valid for foreign schools.
- When you sign an MPN you promise to repay your loans and any interest and fees accrued. You should have one completed for your Direct Subsidized/Unsubsidized Loan and another for your Direct PLUS Loan.
- If you have an endorser for a PLUS loan then you will also need an Endorser Addendum.