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Obtaining a Federal Direct Student Loan

Requesting Your Federal Student Loan

Once you have received notification that your financial aid award notice is available to view online, log into your e-Services account. You will see the amount you have been awarded. You may request a lesser amount than awarded but not a greater amount. A 1.051% federal loan fee (1.072% effective 12/1/13) will be deducted from each disbursement.

Follow the directions on the Loan Information Page of your Award Notice and submit your loan application electronically.

Entrance Loan Counseling

In addition to completing the electronic loan application, you must also complete the entrance loan counseling requirement prior to receiving your loan funds. This one time requirement should be completed in advance by using the Federal Direct Loan Entrance Counseling website at www.studentloans.gov. Complete the quiz using your name, social security number and date of birth.

By selecting Bemidji State University when you sign up, the results will be electronically sent to the BSU Financial Aid Office.

Entrance loan counseling is required of all Direct Loan Borrowers including those who may have had loan counseling at another institution.

Master Promissory Note

In addition to completing the electronic loan application, the student must also electronically complete a Master Promissory Note well in advance of receiving the loan funds. When electronically signing the Master Promissory Note, please turn off all pop-up blockers to enable successful completion. You will need to have the following items ready to complete the electronic Master Promissory Note:

  • Your Federal PIN
  • Your driver's license number
  • Names and addresses of two personal references from two different households

Please read the Borrowers Rights and Responsibilities Statement provided by the Federal Direct Loan Program detailing the terms of your student loan.

After completing these steps, 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.

Exit Loan Counseling

Students must complete exit loan counseling if they drop below half-time enrollment or graduate. The exit can be completed online at www.studentloans.gov. The exit will provide important information regarding repayment, deferment, loan cancellation and the consequences of student loan default. Please contact the Financial Aid Office if you have questions in regards to exit loan counseling. 



Entrance Counseling

This one time requirement should be completed in advance by using the Federal Direct Loan Entrance Counseling website Click here »

Borrowers Rights and Responsibilities Statement

Provided by the Federal Direct Loan Program, this PDF details the terms of your student loan. Click here »

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