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Federal Direct Loan Requirements for Student Borrowers
Before federal student loans can pay toward a student account, both items below must be completed online. Once completed, please allow 3-4 business days for them to be uploaded to GVSU's system. You must use your student FSA ID when logging in to complete these items, so that they are properly connected to your record.
1. Complete Entrance Loan Counseling
First time Federal Direct Loan borrowers will need to complete both entrance loan counseling and a master promissory note through Federal Student Aid before any loan funds will be disbursed to the university.
Entrance loan counseling informs you of your rights and responsibilities as a borrower. It also explains interest rates and the different types of federal loans available. Grand Valley will receive notice that you have completed the requirements directly from Direct Loans. Please allow 3-5 business days for us to receive notification
2. Sign a Master Promissory Note
The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s). Unless your school does not allow more than one loan to be made under the same MPN, you can borrow additional Federal Direct Loans on a single MPN for up to 10 years.
The entire MPN process must be completed in a single session, so be sure you have enough time before you start. Each MPN generally takes approximately 30 minutes to complete.
In this process, you will need the following information: