Federal Perkins Loan

The steps to complete the Federal Perkins loan process are as follows:

Step 1

Determine how much you need to borrow. As a borrower in a federal student loan program, you have the right to request a lower amount than that offered in your financial aid package. Keep in mind that you will be responsible for repayment of this loan.

Step 2

A Perkins Master Promissory Note (MPN) will be mailed to you over the summer. The MPN is a promissory note that can be used to make one or more loans for one or more academic years (up to 10 years). Please note, if you have previously signed a Master Promissory Note (MPN) for a Federal Perkins Loan, a new promissory note for the upcoming academic year is not required; the MPN you signed previously is still valid and in effect.

Step 3

You complete the MPN, sign and date it and then return the MPN to our office.

 

Federal Direct Stafford Loans

The steps to complete the Federal Direct Stafford loan process are as follows:

Step 1

Determine how much you need to borrow. As a borrower in a federal student loan program, you have the right to request a lower amount than that offered in your financial aid package. Keep in mind that you will be responsible for repayment of this loan.

Step 2

If you have previously signed a Master Promissory Note (MPN) for a Federal Direct Stafford Loan, a new promissory note for the upcoming academic year is not required; the MPN you signed previously is still valid and in effect. If you are a first-time Federal Direct Stafford Loan borrower, you will need to complete an MPN. The MPN is a promissory note that can be use to make one or more loans for one or more academic years (up to 10 years). The electronic version of the MPN allows you to complete, sign and obtain a copy of your MPN over the web using the U.S. Department of Education issued PIN. First time borrowers should access the Department of Education's Student Loans website at https://studentloans.gov and complete a Master Promissory Note. Our office will be notified once you have completed this process. This notification must be received before we can disburse your Federal Direct Loan(s) to your student account.

Step 3

If you are a first-time Federal Direct Stafford Loan borrower at UNL you must complete Entrance Counseling. Please visit the Department of Education's Student Loans website at https://studentloans.gov and complete Entrance Counseling.

Please note: If your enrollment during fall semester drops below half-time status (6 credit hours for undergraduate students, 4 credit hours for graduate students or 6 credit hours for law students) it will cause the spring disbursement of your academic year Federal Direct Stafford Loan to be canceled.

 

Federal Direct Grad PLUS Loan

The steps to complete the Federal Direct Grad PLUS loan process are as follows:

Step 1

Determine how much you need to borrow. As a borrower in a federal student loan program, you have the right to request a lower amount than that offered in your financial aid package. Keep in mind that you will be responsible for repayment of this loan.

Step 2

A Grad PLUS borrower must not have an adverse credit history. To determine whether you have an adverse credit history, your information will be submitted to the Direct Loan Origination Center for a credit decision. A Grad PLUS applicant who is determined to have an adverse credit history may receive a Grad PLUS Loan if he or she obtains an endorser who does not have an adverse credit history.

Step 3

If you have previously signed a Master Promissory Note (MPN) for a Federal Direct Grad PLUS Loan, a new promissory note for the upcoming academic year is not required; the MPN you signed previously is still valid and in effect. If you are a first-time Federal Direct Grad PLUS borrower, you will need to complete an MPN. The MPN is a promissory note that can be used to make one or more loans for one or more academic years (up to 10 years). The electronic version of the MPN allows you to complete, sign and obtain a copy of your MPN over the web using your U.S. Department of Education issued PIN. Please access the Department of Education's Student Loans website at https://studentloans.gov and complete a Master Promissory Note for Graduate PLUS loans. Our office will be notified once you have completed this process. This notification must be received before we can disburse your Federal Direct Grad PLUS Loan to your consolidated billing account.

Step 4

If you are a first-time Federal Direct Grad PLUS Loan borrower at UNL you must complete Entrance Counseling. Please visit the Department of Education's Student Loans website at https://studentloans.gov and complete Entrance Counseling.

Please Note: If your enrollment during fall semester drops below half-time status (6 credit hours for undergraduate students, 4 credit hours for graduate students or 6 credit hours for law students) it will cause the spring disbursement of your academic year Federal Direct Stafford Loan to be canceled.