How do I apply for my student loan?
Now that you have completed your financial aid application and received your award notification, there are two more steps to complete in order for your Federal Direct Loan funds to be disbursed—the Master Promissory Note (MPN), and Entrance Counseling.
Master Promissory Note
The MPN is the actual loan application that is sent to your lender, The Department of Education, which operates the Direct Lending Program (DL). Go to StudentLoans.gov to complete the MPN. You will need your FSA ID to sign in to the DL site.
If you are receiving a Federal Direct Loan, the Office of Student Services will notify you at your BC email address once the loan funds have been received. You may view your student account through www.bc.edu/myservices, under “Account and Personal info” to see if the Office of Student Services has received the loan funds.
Please note: Federal Loan Regulations allow students 14 days from the date of notice that the loan was applied to their account to notify the school if they wish the loan to be canceled. Students must notify the Office of Student Services in writing or through "Financial Aid Award Notification" (www.bc.edu/myservices) of their intent to cancel your loan. Students who request that their Federal Loans be canceled are responsible for any resulting balance on their account. Students will not be allowed to register for the next semester if their balances have not been paid.
If you are an incoming student or first-time borrower at Boston College under the Federal Direct Loan or Perkins loan programs, you will need to complete Entrance Counseling. Per federal regulations, Entrance Counseling is required for all federal loans and must be completed before loan proceeds may be disbursed. Please visit StudentLoans.gov to complete your counseling.