Loan Information

Applying for financial aid begins with filling out your FAFSA (free application for federal student aid). The Direct Loan Program has low interest loans that undergraduates, graduates and parents of dependent students may obtain from the Department of Education. The program includes the Federal Subsidized Loan, the Federal Unsubsidized Loan and the Federal PLUS Loan. These loan programs were created by Congress to help all eligible students and parents, with and without financial need, pay for the student’s education expenses.

Your financial aid award will indicate the type of loan you have been awarded, subsidized or unsubsidized loan or a combination of both. Once you have been awarded, if you determine that you would like to accept your loans you must accept your loans on-line via Aggie Access Online, First-time borrowers must complete a Master Promissory Note and Entrance Counseling on-line. (see below).

Types of Loans

Understand how interest is calculated and what fees are associated with your federal student loan

Subsidized vs. Unsubsidized Federal Direct Loans

Federal Student Loans vs. Private Student Loans

Federal Direct PLUS Loan

Private Loan FASTChoice


Loan Management

Rights and Responsibilities for Direct Loan Borrowing

FSA Student Loan Ombudsman contact information

The Ombudsman Group is a neutral, informal, and confidential resource to help resolve disputes about your federal student loans. In order to reach the Ombudsman Group please use following information:

Via on-line assistance:  

Via telephone:  877-557-2575

Via fax:           202-275-0549

Via mail:      U. S. Department of Education
                      FSA Ombudsman Group
                      830 First Street, N. E., Mail Stop 5144
                      Washington, D.C. 20202-5144


You have the right to cancel or reduce your loan within 14 days of  notification of disbursement. If you chose to cancel the loan after disbursement, you will be responsible for any unpaid balance due to the University. The University has the right to refuse cancellation of your loan after the 14 days unless the balance is paid in full.


Your loan Information will be submitted to the National Student Loan Data Services (NSLDS) and will be accessible to authorized agencies, lenders, and institutions.

Loan Glossary:

FSA ID Website
A Federal FSA ID is required to e-Sign your Federal Direct Loan Master Promissory Note. This is the same Federal FSA ID used to sign your FAFSA electronically. If you do not have a FSA ID, select the link above to apply.

Master Promissory Note Website        -   (Video MPN Instructions)
A Federal Direct Master Promissory Note (MPN) is required of all first-time borrowers. The MPN is a legal document in which you promise to repay your loan and any accrued interest and fees to the Department. It also explains the terms and conditions of your loan. In order to complete the Master Promissory Note requirement please follow the (Written Instructions)

Entrance Counseling Website        -    (Entrance Counseling Information Video)
Federal Direct Entrance Counseling is required for all first-time borrowers. The Counseling Session informs you of your rights and responsibilities as a borrower. In order to complete the Entrance requirement please follow the (Instructions).

Accepting Your Loan
All students must accept their loan on "Aggie Access" or complete the "Direct Loan Certification Form". 

Direction to Accept your Federal Direct Loan on Aggie Access online

Exit Counseling Website    -    (Exit Counseling Information Video)
Federal Direct Exit Counseling is required prior to graduating, after dropping below half-time enrollment or withdrawing from the university; borrowers are required to complete an exit counseling session. In order to complete the Exit Counseling requirement please follow the (Written Instructions).