Federal Loan Counseling
All students who take out federal student loans are required to participate in entrance and exit counseling.
Students who receive a Federal Direct loan are required to complete the Federal loan entrance counseling and Federal Direct Stafford Loan Master Promissory Note (MPN). This is a two step process that may take approximately 20 to 30 minutes.
- Step 1: Student loan entrance counseling will further assist you in understanding your rights and responsibilities as a student loan borrower and is required for all first time DWU borrowers.
STEP 1: ENTRANCE COUNSELING
- Step 2: The Master Promissory Note is a legally binding agreement you must sign to indicate your commitment to repay your student loan(s). The MPN list the terms and conditions of the loan, including interest rate, origination fees and repayment options. An MPN may be used for multiple Federal Direct Stafford Loans up to 10 years.
To complete the electronic MPN, you will be required to use your U.S. Department of Education issued PIN (this PIN is used to sign your FAFSA). If you do not remember your PIN# you can retrieve this by going to the following website: www.pin.ed.gov and selecting “Requesting a Duplicate PIN”
Step 2: Master Promissory Note
Student loan exit counseling will prepare you for entering loan repayment and is required for all student borrowers at the time of exiting the university. The Financial Aid Office will direct you to the correct link below when completing this process.
Stafford and Perkins Exit Counseling
NSLDS Loan Exit Counseling
National Student Loan Data System (NSLDS)
Use this website to view information about your federal Stafford, Perkins, and PLUS loans and/or Pell grants.
NATIONAL STUDENT LOAN DATA SYSTEM
When calculating your total Federal loans outstanding, add together the “Outstanding Principal” and “Outstanding Interest” columns.