Applying for Federal Loans

If you accepted Federal Loans as part of your financial aid package, you may need to complete a Master Promissory Note (MPN) for each type of loan. Instructions are different for new students than for returning students for Perkins Loan and Nursing Loan, so read them carefully and ONLY apply for loans you have accepted. If your costs are not completely covered, you may want to consider a Federal Direct Parent PLUS Loan (a loan for parents of dependent students) or a Private Alternative Loan.

Federal Direct Stafford Loan

Note: The Department of Education has issued a new rule for first time borrowers of the Federal Direct Stafford Subsidized Loan. Effective July 1, 2013 new student borrowers under the Direct Subsidized Loan Program will be limited on the maximum period of time that they can receive the Direct Subsidized Loan. Borrowers may not receive Direct Subsidized Loans for more than 150% (pdf) of the published length of their program (measured in academic years).

To complete the Federal Direct Stafford Loan Entrance Counseling and Master Promissory Note:

  1. Go to www.studentloans.gov.
  2. Click on the green "Sign In" button.
  3. Sign in using the STUDENT social security number, first two letters of the last name, the STUDENT date of birth, and the STUDENT FAFSA PIN number.
  4. If you do not know your FAFSA PIN, go to http://www.pin.ed.gov/ to request a duplicate PIN be e-mailed to you. You should have your PIN usually within three to four hours.
  5. Follow the instructions to complete the Federal Direct Stafford Loan Entrance Counseling session.
  6. Click on “Complete the MPN” (Master Promissory Note) on the left hand side and follow the instructions for completing the Stafford MPN.

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Federal Perkins Loan

New Freshmen and Transfer Students
Please allow five (5) business days from the date you accept the loan on BannerWeb before you begin the following steps to complete the Federal Perkins Loan Entrance Interview and sign your Master Promissory Note.

  1. Open SUNY's Student Loan Service Center site
  2. Click on: "Click here if you have received a Federal Perkins Loan award from a SUNY campus with the option to electronically sign."
  3. Confirm and authenticate your identity. FAFSA PIN number required. If you do not know your FAFSA PIN, go to http://www.pin.ed.gov/ to request a duplicate PIN be e-mailed to you. You should have your PIN usually within three to four hours.
  4. Follow the instructions to complete the Federal Perkins Loan Entrance Interview and electronic Master Promissory Note.

Returning Students

Returning students who completed a Perkins Loan Master Promissory Note (MPN) in a prior academic year do not need to complete another MPN. They only need to accept the loan offer on BannerWeb. (instructions for accepting financial aid awards)

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Federal Nursing Student Loan

Students who are offered a Federal Nursing Student Loan will be notified by e-mail with instructions on the procedures to accept the Federal Nursing Loan.

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Federal Direct Parent PLUS Loan

Important: All parents must now borrow Parent PLUS loans under the William D. Ford Direct Loan Program. Please follow the steps below in order to complete the Federal Direct Parent PLUS Loan process:

For 2014-2015, parents should not apply prior to May 1, 2014.

  1. Go to www.studentloans.gov.
  2. Click on the green "Sign In" button.
  3. Sign in using the PARENT social security number, first two letters of the last name, the PARENT date of birth, and the PARENT FAFSA PIN number.
  4. If you do not know your FAFSA PIN, go to http://www.pin.ed.gov/ to request a duplicate PIN be e-mailed to you. You should have your PIN usually within three to four hours.
  5. Follow the instructions to “Start the PLUS application process” and authorize a credit check.
  6. Next, click on “Complete the MPN” (Master Promissory Note) on the left hand side and follow the instructions for completing the Parent PLUS loan MPN.

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