Promissory Notes and Counseling
Federal Direct Student Loan Promissory Notes
Students participating in the Federal Direct Loan program are required to sign a multi-year promissory note. This Master Promissory Note (MPN) will be applied to all federal loan programs for the duration of a student's stay at USF, up-to ten years.
Students with accepted Subsidized and Unsubsidized loans, as well as Graduate students and parents with credit-approved PLUS loans complete Master Promissory Notes online at studentloans.gov. Students and/or parents will need to use their FSA ID to sign in and complete the MPN.
The MPN should be completed as soon as possible once the loan is accepted. USF will receive acknowledgment of the MPN completion from the Direct Loan Origination Center and disburse the loan funds on or after the scheduled disbursement date. USF will notify the student that Federal funds have been credited to student's account.
Nursing Student Loan Promissory Notes
Students participating in the Nursing Student Loan (NSL) program must submit signed promissory notes before loan funds can be paid into your student account. Borrowers of the USF Federal Nursing Student Loan will have an additional requirement of submitting a Student Loan Self-Certification form to USF and will receive a series of Loan Disclosure forms from USF and University Accounting Services (UAS), the servicer of this loan for USF. More information will be sent directly to the borrowers of these loans.
Promissory notes for the Nursing Student Loan will be made available online for e-signature at signmyloan.com. This must be completed each award year. You will be sent an email from signmyloan.com when the site is available. Please note: FAFSA issued PINs are no longer supported. You will need to create an online account by clicking on the "Create Online Account" button on the UAS web page or by signing in with a previously established UAS username and password. NSL awards will be canceled for those who fail to sign promissory notes.
Direct Loan Entrance Counseling
First time borrowers of Federal Direct Loans are required to complete a Direct Loan Entrance Counseling workshop at studentloans.gov. Federal Direct Grad PLUS loan borrowers may choose to complete a PLUS-specific workshop or a combination Stafford/PLUS workshop.
Some Direct PLUS borrowers may be required to complete an additional PLUS Counseling if informed by the Department of Education that the borrower has adverse credit.
Entrance counseling sessions may take up to 30 minutes. The entrance counseling should be completed as soon as possible once the loan is accepted. USF will receive acknowledgment of completion from the Direct Loan Origination Center and disburse the loan funds on or after the scheduled disbursement date. USF will notify the student that Federal funds have been credited to student's account.
Loan Exit Counseling
Exit counseling is required for students who are graduating or leaving school. Exit counseling does not prevent students from borrowing federal loans at USF in the future, and is not sufficient to officially withdraw students from school. The counseling provides useful information to help students understand their rights and responsibilities as federal loan borrowers and prepares them for repayment of federal student loans. Before you begin, gather all available income, financial aid, and living expenses information; you will need to reference it as you complete your counseling session. You will receive notification from the Office of Financial Aid when you need to complete the exit counseling.