This federal loan program enables eligible applicants to obtain
student loans to meet their cost of attendance expenses. Students must be
matriculated and enrolled in a minimum of 6 credits.
Loan Terms are
determined by federal statute and may vary by the year student obtains their
initial loan.
Before loan funds can be disbursed, students must complete an online loan counseling Entrance Interview and
a Master Promissory Note (MPN).
Enhanced Loan Counseling:
Monroe College has
been selected to participate in a Department of Education Experimental Site
initiative involving enhanced loan counseling. (Federal regulation 688.16(b)(1)
and (4). All undergraduate Direct Loan borrowers, who have
previously completed one-time entrance counseling will be identified. Of that
group those with a Social Security number that ends in an even number will be
part of the enhanced counseling group. These students will be required to
complete the enhanced counseling once each year in order to receive their
loans. Those with a Social Security number that ends in an odd number
will be part of the control group and will not be required to complete enhanced
loan counseling. Information about students in both groups will be
reported annually to the Department of Education