What is StudentLoans.gov?
StudentLoans.gov is your source for information from the U.S. Department of Education about how to manage your student loans. You will use this site to complete Master Promissory Notes for Direct Loans, required entrance and exit counseling and PLUS loan applications.
- Sign in to view student loan data.
- Select Complete Entrance Counseling from the menu. If you have not previously received a particular loan type, you must complete loan counseling (takes about 30 minutes).*Be sure to select Complete Entrance Counseling NOT Complete Financial Awareness Counseling. Entrance Counseling will walk you through the Direct Loan process and explain your rights and responsibilities as a borrower.
- Sign into StudentLoans.gov.
- Select Complete Master Promissory Note from the menu.
What Is 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. With the UI, you can borrow additional Direct Loans on a single MPN for up to 10 years.
Parent borrowers must complete a MPN for each student, logging in with their own FSA ID. The entire MPN Process must be completed in a single session (takes about 30 minutes).
- Sign into StudentLoans.gov
- Select Request a Direct PLUS Loan from the menu
- Pick the appropriate PLUS loan - Grad PLUS for applying graduate students or Parent PLUS for applying parents of dependent undergraduates.
Before you can receive a Direct PLUS Loan, you must complete a Direct PLUS Loan Application and Master Promissory Note (MPN). The Direct PLUS Loan MPN explains all of the terms and conditions of and constitutes your legally binding agreement to repay all loans you receive under the Direct PLUS Loan MPV. If you have not previously completed a Direct PLUS Loan MPN , you may do so on this after you complete the Direct PLUS Loan Request.
The Direct PLUS Loan Request gives you the option of authorizing the school to use your loan funds to satisfy other educationally related charges after tuition and fees, and room and board have been paid. You are not required to provide this authorization.
If you are a parent borrower, the Direct PLUS Loan Request also allows you to:
- Designate whether the school pays any credit balance to the student or to you.
- Request a deferment while the student is in school.
- Request an additional deferment for 6 months after the student ceases to be enrolled at least half time.
An endorser is someone who agrees to repay the Direct PLUS Loan if the borrower becomes delinquent. The endorser may not be the student on whose behalf a parent obtains a Direct PLUS Loan.
- Using your FSA ID, sign into StudentLoans.gov.
- You’ll also need a positive credit history and your Loan Reference Number.
- Select Endorse a Direct PLUS Loan from the menu.
- The first item requested is the Loan Reference Number. The original borrower was sent an email from the Department of Education the same day they were informed that the PLUS loan was denied. The Loan Reference Number is provided in the email.
- If the original borrower can’t locate this email, they can click on StudentLoans.gov, click on “My Profile” to obtain the loan reference number. Once the number is entered, click “submit” which will take you to the endorser form. Complete all steps prior to exiting the site.
- If accepted, a record will be sent to the school indicating a successful endorsement. If there is a current Master Promissory Note completed, then the application process is complete. The Department of Education and/or the student's school will notify the borrower of the final status of the loan.
- The entire process must be completed in a single session (takes approximately 30 minutes).