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Processes and Requirements on Accepting/Declining Loans

Accepting Loans:  Beginning August 17, 2015 students can start accepting loan(s) on BroncoDirect for the 2015/2016 academic year. 

To Decline or Reduce a Loan: Students will need to submit an Information Update form to the Office of Financial Aid & Scholarships requesting the reduction or cancellation of the loan(s).

Direct Federal Stafford Loans (PDF)

Direct Loans are borrowed funds student’s must repay with interest in which the lender is the U.S. Department of Education.  Direct Loans have low, fixed interest rates and the funds can be used to assist with paying educational costs.  The Direct Subsidized Loan is only available to undergraduate students who demonstrate financial need. The Federal Government pays the interest as long as the student is enrolled at least half time. The Direct Unsubsidized Loan is available to undergraduate, graduate and doctoral students and is not income or credit-based. The student is responsible for the interest from the time this loan is disbursed until it is paid in full.

The Entrance Counseling and Master Promissory Note must be completed before loans are disbursed.

Entrance Counseling:  First time Direct Stafford loan borrowers must complete this requirement online for the 2015/2016 academic year starting now at .

Master Promissory Note (MPN):  Beginning Monday, September 1, 2015, all new Direct Stafford loan borrowers must complete the MPN for the 2015/2016 academic year at .

Perkins Loan (PDF)

This program offers a fixed 5% interest rate and is guaranteed by the U.S. Department of Education.  This loan is available to undergraduate and graduate students. Loan awards range up to $3,900 per academic year and will be awarded based on availability of funds. Interest does not accrue on this loan while enrolled at least half-time or during the nine-month grace period prior to repayment. All new borrowers must complete a Master Promissory Note (MPN) before funds can be disbursed.

Master Promissory Note: Beginning Tuesday, September 1, 2015, students will be notified via email by Heartland/ECSI when they must complete the Master Promissory Note (MPN).

Direct Federal PLUS Loan (PDF):

Direct PLUS loans are for parents or stepparents who need to borrow to assist in their dependent’s undergraduate educational expenses. Parents may borrow up to the total cost of attendance minus any financial aid the student is receiving. To apply, complete a PLUS loan application. However, the application cannot be processed until a Free Application for Federal Student Aid (FAFSA) is completed. New Direct PLUS borrowers are required to complete a Master Promissory Note (MPN) once credit is approved and before funds can be disbursed to the student.

Direct Federal Graduate PLUS Loan (PDF)

The Federal Graduate PLUS loan is available for students in the Graduate and Doctoral programs; not available for credential students. This loan is to supplement educational needs beyond the Direct Unsubsidized Stafford loan maximum eligibility for the academic year. Graduate/Doctoral students may borrow up to the Cost of Attendance. New Direct Graduate PLUS borrowers are required to complete an Entrance Loan Counseling and a Master Promissory Note (MPN) once credit is approved and before funds can be disbursed to the student. The Entrance Counseling and MPN requirements must be completed on-line at:

Private (Alternative) Loans (PDF)

Private loans are offered by many lenders as an addition to the Federal Student Loan Programs. Private loans can assist borrowers who do not qualify for the federal programs. Interest rates, fees and repayment plans vary from lender to lender. A FAFSA must be completed each academic year. Borrowers are encouraged to start the application process for the 2015/2016 after July 1, 2015 to avoid credit approval from expiring due to our office not certifying/processing private loans until after August 28, 2015.

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Office of Financial Aid
  • 98-T3
  • (909) 869-3700
  • (909) 869-4757