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Student Loans

To receive a Federal Direct Loan please follow the directions on the Federal Student Loan Information page of your award notice. You may request a lesser amount than is indicated on your award notice but not a greater amount. A 1.051% federal loan fee (1.072% effective 12/1/13) will be deducted from each disbursement.   In addition to completing the electronic loan process the student must also complete the entrance counseling requirement prior to receiving their loan funds. This one time requirement should be completed in advance by using the Federal Direct Loan Entrance Counseling website at  Complete the quiz by using your name, social security number and date of birth. By selecting Bemidji State University, the results will be sent electronically to the BSU Financial Aid Office. Entrance counseling is required of all Direct Loan borrowers including those who may have had loan counseling at another institution.  

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.   Detailed information about the various loan programs can be found on our website.