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Direct Loan Instructions

You must complete the following steps to secure your Direct Loans(s):


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

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 additional Direct Loan, you must again accept the additional loan on NYU Albert.

2.  Log on to your student account at www.StudentLoans.Gov.

3.  Complete your Direct Loan Entrance Counseling on StudentLoans.gov.

  • Entrance Counseling is required of Federal Subsidized and Unsubsidized Loan and Federal Direct Graduate PLUS Loan borrowers only. After logging into the site, click on Complete Entrance Counseling. Please be sure to correctly identify yourself as an Undergraduate Student or Graduate Student.
  • Students also do not need to complete new Direct Loan Entrance Counseling if a session was previously completed for NYU.
  • If you need assistance completing your Entrance Counseling session please call the Direct Student Loan Support Center at 1-800-557-7394.

4.  Sign your Master Promissory Note (MPN) on StudentLoans.gov.

  • Click on the link "Complete Master Promissory Note." The link "View What You Need" lists the information need to complete the MPN. Be sure to select the correct loan type for which you need to complete 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 Support Center at 1-800-557-7394.

Please note: If one or more of these steps are missing or the student did not choose the correct parent borrower selection, 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 is required that students maintain at least half-time enrollment in order to retain eligibility for all federal loans, including the Parent PLUS Loan.


Accepting Your Direct Loans on StudentLoans.gov

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INSTRUCTIONS FOR STUDENTS AND THEIR PARENT PLUS LOAN BORROWERS:


1.  The student must first accept the Direct Parent PLUS Loan on NYU Albert.

  • Log on to your NYU Albert account, click the Accept/Decline financial aid link and follow the instructions given.
  • After you click ‘Accept’ for the Parent PLUS Loan, you will be able to click on the “Select Your Parent“ link. You will be taken to a new screen and will be asked to Specify a PLUS Borrower.

To use an existing parent borrower, select “Yes” for the Use Existing Parent field.

Click on the magnifying glass. This will locate any parent you have previously used for the Plus Loan who has completed a PLUS Request form on StudentLoans.Gov. If you wish to use that existing parent, select their ID and click 'YES'. This parent will receive an email confirming their information.

To use a new parent borrower, select “Yes” for the Indicate a New Borrower field.

You will be prompted to enter in your parent borrower’s email address. Make sure it is their personal email address and not your own. 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 a PLUS Request and a PLUS Loan MPN on StudentLoans.Gov.

2.  Parent borrowers who have never completed a PLUS Request must request a Direct PLUS Loan on StudentLoans.Gov.

  • Log on to your parent account at www.StudentLoans.Gov.
  • Click on the link “Request a Direct PLUS Loan.” Be sure to select the Parent PLUS option on the next page.
  • You will be asked to choose the Award Year for which you are completing the PLUS Loan Request. If you are unsure whether your first PLUS Loan will be a part of the 2013-2014 award year or the 2014-2015 aid year, please have your student check their financial aid award package on their Albert account. You may also contact us.
  • If you need assistance completing your PLUS Loan Request please call the Direct Student Loan Support Center at 1-800-557-7394.

3.  The parent borrower must sign a PLUS Loan Master Promissory Note (MPN).

  • Log on to your parent account at www.StudentLoans.Gov.
  • Click on the link "Complete Master Promissory Note." The link "View What You Need" lists the information need to complete the MPN. Be sure to select the Parent PLUS option.
  • If you need assistance signing your MPN or completing your PLUS Loan Request please call the Direct Student Loan Support Center at 1-800-557-7394.

4.  The parent borrower must confirm the amount of PLUS Loan that you wish to be disbursed.

  • Once the Office of Financial Aid has received verification of your credit approval for the Parent PLUS Loan, you will receive an email from the NYU Office of Financial Aid containing instructions and a link to the PLUS Loan Confirmation page.
  • Click the link provided in the email and there, you will be required to answer some identifying questions and confirm the loan amount.

Please note: If one or more of these steps are missing or the student did not choose the correct parent borrower selection, 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 is required that students maintain at least half-time enrollment in order to retain eligibility for all federal loans, including the Parent PLUS Loan.

 

The PLUS Loan Application Process

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Frequently Asked Questions


Direct Loan Student Loan Support Center:

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 Student Loan Support Center
Borrower Services Department
P.O. Box 5609
Greenville, TX 75403-5609
Toll free: 1-800-557-7394


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