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INSTRUCTIONS FOR COMPLETING LOAN PROMISSORY NOTES FOR FEDERAL DIRECT, FEDERAL PERKINS AND COLLEGE LOANS

As part of your financial aid award you may have been offered a Federal Subsidized or Unsubsidized Direct Loan, a Federal Perkins Loan or a College Loan. Once you have decided to borrow one of these loans, you will need to complete a promissory note(s). The Federal Direct Loan and Federal Perkins Loan programs have a Master Promissory Note. This means that you will only have to complete the promissory note(s) for these loans once. The College Loan Promissory Note is not a Master Promissory Note and must be completed each year you take out a College Loan. The Federal Subsidized or Unsubsidized Direct Loan and Federal Perkins Loan have a one-time entrance loan counseling requirement that must be satisfied before these loans can be disbursed. Below you will find instructions for completing each promissory note, as well as instructions for satisfying the entrance loan counseling requirement.

Please read these instructions carefully before completing the promissory note(s) or satisfying the entrance loan counseling requirements.

If you wish to accept the entire loan offered:

Federal Direct Loan:
	Refer to the Direct Loan Electronic Master Promissory Note instructions included in your financial aid award packet. These instructions will include how to satisfy the requirement for the entrance loan counseling session.
Federal Perkins Loan:
	Check all pre-printed information on the promissory note for accuracy. Change if information is not correct.
	Sign and date the bottom.
	Return the completed Federal Perkins Loan Promissory Note to Student Financial Services. Retain a copy for your records.
	Complete the one-time entrance loan counseling requirement (see instructions in your financial aid award packet).
College Loan:
	Check all pre-printed information on the promissory note for accuracy. Change if information is not correct.
	Complete the reference section.
	Sign and date the back of the promissory note.
	Return the completed promissory note to Student Financial Services. Retain a copy for your records.

If you wish to accept only a portion of the loan offered:

	Cross out the amount shown on the award letter and write in the amount you wish to borrow. If you are adjusting the Federal Direct Loan remember to factor in the 1.5% processing fee, which will be deducted from your loan amount before it pays to your tuition account. The Federal Perkins Loan and College Loan do not have a processing fee.
	Initial and date the change on the front of the award letter.
	Return the signed award letter to Student Financial Services.
	The promissory note for the Federal Direct Loan(s) and the Federal Perkins Loan are Master Promissory Notes. You do not need to make any changes to these promissory notes. These loan notes do not have amounts listed and you can reduce or increase loan amounts without adjusting your promissory note(s).
	The College Loan Promissory Note you will need to change as it is not a Master Promissory Note. Cross out the amount on the Promissory Note, date and initial the change, and return to Student Financial Services. Retain a copy for your records.

If you wish to decline the entire loan offered:

	Check the decline box on the award letter next to the loan you wish to decline.
	Tear up the promissory notes (if enclosed) and discard.
	Sign and date the award letter and return it to Student Financial Services.