Federal Direct Loans
If you plan to use Federal Direct Loans and are a first-time borrower at PSU, you will be required to complete a Master Promissory Note (MPN) and a one-time online Entrance Counseling. PSU will be notified once you have completed and submitted these requirements. Federal loan funds will not be credited to your PSU bill with Student Account Services until these items are completed.
1. MASTER PROMISSORY NOTE: The MPN is your promise to repay your federal direct loan. The Direct Loan MPN is valid for ten years.
2. ENTRANCE COUNSELING SESSION: The online counseling session assures that you understand your rights and responsibilities when borrowing federal loans.
Both of these requirements may be completed at StudentLoans.gov, using the same FSA ID you used to sign the FAFSA. Once logged in, please proceed to the links for “Complete Counseling” and “Complete Master Promissory Note.”
Note: Your MPN is not considered complete until you reach the screen with the following message: “Thank you for submitting the MPN. You may view/download the PDF version of your completed MPN.”
For more information about Federal Direct Loans and loan limits, please see our Federal Direct Loan webpage.
Federal Perkins Loan
As of October 1, 2015, the Federal Government has discontinued the issuance of any new Federal Perkins Loans.