Student Loans
To receive a Federal Direct Loan please follow the directions on page three Federal Student Loan Information. You
may request a lesser amount than is indicated on your award notice but not a
greater amount. A 1.00% federal loan fee less 0.50% interest rebate will be
deducted from each disbursement.
New Federal Direct Loan borrowers must complete an electronic Master
Promissory Note.
When electronically signing the Master Promissory Note, turn off all pop-up
blockers to enable successful completion. You will need the following things to
complete the eMPN: your federal PIN, driver’s license, names and addresses of
two personal references from two different households. A student who has
previously received a Direct Subsidized or Unsubsidized Loan at BSU since Fall
Semester of 1999, has already completed a Master Promissory Note and will not
need to complete one again. You will receive a “Disclosure Statement” from the
Direct Loan Servicing Center listing the disbursements to be made to you. Keep
this for your records. Direct Loan funds are divided equally over your terms of
enrollment. Your loan will be credited to your unpaid bill along with your
other aid, starting the ninth or tenth class day of each semester.
Note: You may cancel your Federal loans within 14 days of receiving the funds
by returning 100% of the loan funds you received to Business Services.