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Direct Loan Instructions

You must complete 3 necessary steps to secure your Direct Loans(s):

 

  1. Officially accept the loans with the NYU Office of Financial Aid via NYU Albert.
  2. Electronically sign your Master Promissory Note.
  3. Complete Entrance Counseling (Federal Direct Loan and Federal Direct Graduate PLUS Loan borrowers only).

Note to Parent PLUS loan borrowers: there is an additional series of steps necessary to secure a federal Direct Parent PLUS Loan for your student (see Instructions for Parents below).

For a printout of the Federal Direct Loan Self-Checklist For Students and Parents please click here.

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INSTRUCTIONS FOR STUDENTS:

1.  Accept your Direct Loans on NYU Albert.

Log on to your NYU Albert* account, click the Accept/Decline financial aid link and follow the instructions given.

If you have already completed these steps for existing Direct Loans at NYU and are subsequently offered an increase or additional Direct Loan(s), you must again accept the increase or additional loan on NYU Albert.

* If you are a new student and do not yet have an NYU email address and do not have access to Albert, please contact the Office of Financial Aid to notify us which Direct Loans you want to accept, modify, or decline:

> Email to the Office of Financial Aid
> College of Dentistry students: email to dental.financial.aid@nyu.edu
> School of Medicine students: email to phyllis.schulz@nyumc.org
> Graduate Stern School of Business: email to fin-aid@stern.nyu.edu
> School of Law: email to law.finaid@nyu.edu

Once your message is received a Financial Aid counselor will make the modifications on your behalf.

2.  Sign your MPN.

You must sign your Direct Loan Master Promissory Note (MPN) at StudentLoans.gov.

> Click on the link to "Complete Master Promissory Note." The link "View What You Need" lists the information need to complete the MPN.

> You will need your four-digit Federal PIN to sign the MPN.

> Graduate PLUS Loan borrowers must sign a separate MPN for the PLUS loan in addition to the MPN for the Direct Subsidized/Unsubsidized Loans.

If you need assistance signing your MPN please call the Direct Student Loan Origination Center at 1-800-557-7394.

3. Complete Entrance Counseling (Federal Subsidized and Unsubsidized Loan and Federal Direct Graduate PLUS Loan borrowers only).

Entrance Counseling is required if this is the FIRST Direct Subsidized/Unsubsidized Loan or Graduate PLUS Loan you are borrowing through NYU. Complete your Entrance Counseling at StudentLoans.gov.  After logging into the site, click on Complete Entrance Counseling.  Please be sure to correctly identify yourself as an Undergraduate Student or Graduate Student.

If you need assistance completing the Entrance Counseling please call the Direct Loan Applicant Services at 1-800-557-7394.

 

Accepting Your Direct Loans on StudentLoans.gov

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INSTRUCTIONS FOR PARENTS:

Steps to Secure Your Parent Plus Loan: for Parents with prior PLUS Loans


If your parent is interested in applying for the Federal Direct Parent PLUS loan that is suggested on your financial aid award and would like to use the same Parent borrower that you previously used OR want to indicate a new borrower, please follow these instructions:

INSTRUCTIONS FOR Students and Parents With Prior PLUS Loans:

1. Log on to your NYU Albert account, go to your Student Center, and click the “View Financial Aid” link. Select the aid year in which you are applying for the PLUS loan.

2. Click ‘Accept’ to accept the PLUS Loan.

3. After you click ‘Accept’, you will be able to click on the “Select Your Parent“ link. You will be taken to a new screen.

  • Click on the magnifying glass. This will locate the parent you have previously used for the Plus Loan. If you wish to use that existing parent, select their name and click 'YES'. This parent will receive an email confirming their information, and instructing them to accept the PLUS loan that has been offered.
  • If you wish to use a new parent borrower, after you have clicked on the “Select Your Parent” link, you will go to “Indicate a New Borrower” and select ‘Yes’.  You will then enter the new parent borrower’s email address and click ‘OK’. The parent’s email address will appear as the Parent PLUS Loan contact for the new loan and they will be sent instructions to follow to secure the loan. The instructions will state that the New Borrower must:

* Complete the PLUS Request Process at StudentLoans.gov, AND

* Sign a Parent PLUS Master Promissory Note at StudentLoans.gov (parent must sign in to the site under their own parent FAFSA PIN and login information to complete both these steps).

4. Within approximately two-three business days after completion of the previous steps, the parent borrower will receive an additional email from NYU Office of Financial Aid (financial.aid@nyu.edu) that will contain instructions and a link. The instructions in the email will explain that parents must click the link and confirm their information and willingness to borrow the PLUS Loan.

Please note:  If one or more of these steps are missing, then this will delay in processing of the Parent Plus loan. Please have your student check his NYU Student Center ‘To Do’ list periodically to see what may be outstanding or missing. Also, it required that students maintain at least half-time enrollment in order to retain eligibility for federal loans, including the Parent PLUS Loan.

 

Steps to Secure Your Parent Plus Loan: for New PLUS Loan Parent Borrowers Only


If your parent is interested in applying for the Federal Direct Parent PLUS loan that is suggested on your financial aid award please follow these instructions:

INSTRUCTIONS FOR New PLUS Loan Parent Borrowers Only:

1. Log on to your NYU Albert account, go to your Student Center, and click the “View Financial Aid” link. Select the aid year in which you are applying for the PLUS loan.

2. Click ‘Accept’ to accept the PLUS Loan.  At this time, you must provide a Parent email address. Once the student has provided your email contact, you will receive an email containing instructions stating you must:

* Complete the PLUS Request Process at StudentLoans.gov, AND

* Sign a Parent PLUS Master Promissory Note at StudentLoans.gov (parent must sign in to the site under their own parent FAFSA PIN and login information to complete both these steps).

3. Within approximately two-three business days after completion of the previous steps, the parent borrower will receive an additional email from NYU Office of Financial Aid (financial.aid@nyu.edu) that will contain instructions and a link. The instructions in the email will explain that parents must click the link and confirm their information and willingness to borrow the PLUS Loan.

Please note: If one or more of these steps are missing, then this will delay in processing of the Parent Plus loan. Please have your student check his NYU Student Center ‘To Do’ list periodically to see what may be outstanding or missing. Also, it required that students maintain at least half-time enrollment in order to retain eligibility for federal loans, including the Parent PLUS Loan.

The PLUS Loan Application Process

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Frequently Asked Questions


Direct Loan Borrower Servicing:

Visit the Direct Loan Servicing website, where you can:

  • Make online payments
  • View account balances
  • Change billing options
  • Enroll in electronic services . . . and much more

Mailing Address:

Direct Loan Servicing Center
Borrower Services Department
P.O. Box 5609
Greenville, TX 75403-5609
Toll free: 1-800-848-0979


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