Direct Loan Frequently Asked Questions | Financial Aid

Do I have to complete a Direct Loan Master Promissory Note (MPN)?

Yes. All borrowers must complete a MPN once for each school they attend in order to receive their loans. This applies to both Direct AND PLUS borrowers. You can do this at

I have previously completed entrance counseling for my Direct Loans at another school. Do I have to complete Direct Loan entrance counseling?

Yes, new borrowers to Carroll will be required to complete entrance counseling. To complete this, please go to

Where do I complete an MPN for the Direct Loan Program?

The MPN can be completed at You will need to have your FSA ID to sign your MPN electronically.

When can I complete the new MPN?

You can complete your new MPN at any time – even if you have not received a financial aid award.

How/when will I have to repay my loans?

Once you are no longer taking at least 6 credits (because you graduated, withdrew, only taking 4 credits, etc.), you have a choice – you may either make individual payments to your loan servicer for your direct loans, or you can consolidate your federal loans into one payment. To view your lenders/servicers go to For consolidation questions go to

I am a parent. I plan to borrow a PLUS loan for my student. Do I have to complete a Master Promissory Note?

If you are a new borrower then yes, you will need to complete not only a MPN but also a PLUS Loan Request form. If you are a continuing borrow, you ONLY need to complete a new PLUS Loan Request form. You complete this PLUS Request process online at

Is there a place that will list all of my Federal Student Loans?

Yes. You can go to the NSLDS (National Student Loan Data System) website ( to retrieve this information. This will show you a list of all of the Federal student loans that you have acquired through your schooling.

If I still have more questions about the direct loan program, who do I contact?

The U. S. Department of Education Direct Loan Program Customer Service phone number is 800.848.0979 or you can go to their website at

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