Rust College - Where Tomorrow's Leaders Are Students Today
IMPORTANT LOAN INSTRUCTIONSHOW TO APPLY FOR WILLIAM D. FORD FEDERAL DIRECT LOAN(S)READ VERY CAREFULLYDear Rust College Student: Your financial aid award includes a William D. Ford Federal Direct Student Loan. In order to apply for this loan, and to use this loan for payment on your bill, you must do several things: If you haven’t already done so, review your loan(s) on your financial aid award letter. STEP 1: Entrance Counseling Go to Sign In under Manage My Direct Loan then click on Complete Entrance Counseling. This is a requirement set by the federal government, explaining the loan program and your rights and responsibilities. The session will take about fifteen minutes to complete and there is a short quiz at the end. Also, there is no need to print out a form at the end. The Direct Loan Servicer will notify Rust College electronically that the Entrance Counseling has been completed. STEP 2: Master Promissory Note Go to Sign In under Manage My Direct Loan then click on Complete Master Promissory Note. You will need two references, the first should be a parent, and the second reference should be a relative living at a different address. Use your PIN as your electronic signature and print a copy for your files. You need not submit a copy to Rust College. The Direct Loan Servicer will notify Rust College electronically that the Master Promissory Note has been completed. Parent PLUS Loan Borrowers: The person signing in is recognized as the Borrower. The parent must sign in to complete a Parent PLUS Loan Application or Parent PLUS MPN. Go to Sign In under Manage My Direct Loan then click on Request a Direct PLUS Loan, select the loan type Parent PLUS and proceed with the application. If the application is approved, you must complete a Master Promissory Note, to do so click on Complete MPN then click on Parent PLUS. There is no loan amount on this Master Promissory Note. The amount for which you are eligible is listed on your award letter. However, no loan amount will be credited to your tuition account until you have completed both the Entrance Counseling and the Master Promissory Note. If you want to borrow less than the amount shown on your award letter or if you do not want to borrow at all, please notify the Financial Aid Office.Welcome to Bearcat Nation and enjoy your semester!Financial Aid Office ................
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