Direct Loan Application/MPN
Waynesburg University participates in the William D. Ford Federal Direct Loan (Direct Loan) Program. The federal government has set up StudentLoans.gov as the portal for students to manage their Direct Loans. Borrowers can use this web site to:
- Complete their Direct Loan Entrance Counseling.
- Complete their Direct Loan Master Promissory Note (MPN).
- View correspondence regarding their Direct Loans.
FIRST-TIME DIRECT LOAN BORROWERS MUST COMPLETE A DIRECT LOAN MPN!
If you have not previously received a Direct Loan, you MUST complete a Direct Loan Master Promissory Note (MPN) at https://studentloans.gov.
The MPN is the legal document through which you promise to repay your loans and any accrued interest and fees to the USDE. It also explains the terms and conditions of your student loan.
FIRST-TIME LOAN BORROWERS MUST ALSO COMPLETE ENTRANCE LOAN COUNSELING!
If you are an undergraduate or graduate/professional student and have not previously received a Stafford or Direct Loan, you must complete Direct Loan Entrance Counseling before you can receive a Direct Loan. Like the Direct Loan MPN, the Entrance Counseling should be completed at https://studentloans.gov.
CONSOLIDATING FFEL PROGRAM LOANS INTO THE DIRECT LOAN PROGRAM?
If you already have Stafford Loans and will now be receiving Direct Loans, consolidating all of your loans together into a Direct Consolidation Loan may make your loan repayment easier. If you consolidate, you will have just a single monthly payment. Consolidating your loans may also allow you to take advantage of certain benefits that are offered only in the Direct Loan Program, such a Public Service Loan Forgiveness and Income Contingent Repayment Plan.
To learn more about when you may consolidate, the pros and cons of loan consolidation and the application process, visit www.loanconsolidation.ed.gov or call 800-557-7392.
QUESTIONS/PROBLEMS WITH YOUR DIRECT LOAN?