Direct Loans Gov
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- go through entrance counseling
- complete an electronic master promissory note
- see disclosure statements and term modifications
- begin the PLUS loan process, including credit check and endorser addendum
Direct Loan Servicing Center Entrance Counseling
Only first-time federal school loans borrowers need to do the counseling. If you have been a Direct or FFELP borrower before, you will be able to skip the counseling. But even if you borrowed as an undergraduate, you will still need to go through it for your first Grad PLUS loan. (No counseling for parent college loans is required.)- Borrowers will need their FAFSA PIN to log in.
- To complete the counseling in Spanish, borrowers will have to download a document, sign the verification and return it to their school.
- The counseling session must be completed in one sitting; you cannot save your place. It will take about 30 minutes.
- There are 16 topics- each with a short quiz afterwords.
After the counseling, you can submit your master promissory note (MPN) or you can quit and do it another time. Or you can view, download and print your counseling session. The MPN process has been streamlined so that it is only 4 steps instead of 9.
If you are a first-time Grad PLUS borrower, you can now submit your loan request.
Federal Direct PLUS Loans Requests
The new website will be able to process Direct PLUS loans requests from borrowers beginning in April 2010.After you make your request, you will be able to authorize a credit check. This will be done immediately and you will get the results right away. Depending on the results, you will be asked to either:
- complete a Direct PLUS loan master promissory note (if this is your first loan) if credit was approved; or
- choose from these alternatives, if credit was not approved: disregard the PLUS loan request, get an endorser, or appeal the credit turndown.
If you choose to use an endorser, that person can fill out his information on the direct loans gov website, also. (The endorser will need a FAFSA PIN, also.)
These features allow colleges to make the transition to federal Direct student loans easier on themselves and their students.
The student loans gov website will eventually be the only Direct loans servicing center online, but the old url will still be active until all schools complete the transition.return from direct loans gov to federal student loans
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