STEP 1: Your Award
You were awarded a Federal Student Loan (Direct Unsubsidized and/or PLUS Loan) as part of your financial assistance award. Each graduate division has its own financial aid award procedure. Make sure that you have received and accepted your award according to its guidelines. If your award is available online, Accept your Financial Assistance Award at sfs.wustl.edu. Login to 'My FA Access' and choose 'My Award' from the left menu.
You must have your WUSTLKey before completing this step. For more information regarding loan types, interest rates, fees, and repayment, go to studentaid.ed.gov
STEP 2: Complete Entrance Counseling
If this is the first time you have received a Direct Unsubsidized and/or PLUS Loan at Washington University, you need to complete entrance counseling. Please note that entrance counseling for both loans is completed in one session through the Direct Loan website at studentloans.gov
. If you have already completed entrance counseling at another school, you may choose to send it to Washington University using the studentloans.gov website.
All students at Washington University must be registered at least half-time in a degree-seeking program to receive Federal Student Loans. Please refer to the Enrollment Status Definitions
for Washington University’s definition of full-time and half-time enrollment prior to completing entrance counseling.
Should you decide to withdraw from classes for ANY reason, contact your school's financial aid representative.
STEP 3: E-sign Your Master Promissory Note (MPN)
There are two separate procedures for completing an MPN depending on which loan(s) you are awarded. Students who are awarded both Direct Unsubsidized and PLUS loans will need to complete two separate MPN’s, one for each loan. Both MPN’s can be completed through the same website. Please read the instructions below for more detailed information.
Note: Graduate and professional students should exhaust Unsubsidized Student Loans before utilizing PLUS Loans. If you decide not to maximize your Direct Unsubsidized Student Loan and wish to use the PLUS Loan program, you will be asked to indicate in writing that you understand the difference in loan terms. For more information regarding loan types, interest rates, fees, and repayment, go to studentaid.ed.gov. This acknowledgement by the borrower is a Federal Regulatory requirement.
Complete Loan Agreement for a Unsubsidized Loan (MPN)
If you completed a Federal Direct Loan MPN last year, you do not need to complete another one. Master Promissory Notes for Direct Loans are good for 10 years. The annual loan limit is $20,500 per award year.
Apply for a PLUS Loan and Complete Loan Agreement for a PLUS Loan (MPN)
A PLUS loan is a supplemental loan that provides funds up to the cost of attendance less other financial aid for graduate and professional students. You must not have an adverse credit history (a credit check will be completed), or you can obtain an endorser who does not have an adverse credit history.
1. Apply for a Direct PLUS Loan. This request authorizes a credit check and determines your loan eligibility at that time. This request must be completed each year that you wish to borrow.
2. Complete Loan Agreement for a PLUS Loan (MPN). If you completed a Direct PLUS Loan promissory note in a previous year, you are not required to complete another one.
If you have any questions regarding your rights and responsibilities as a borrower or about loan terms and conditions, you may contact Student Financial Services at (888) 547-6670.
To review your Federal Loan history or find your loan servicer at any time, go to nslds.ed.gov