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Loan Requirements

No matter which loan you have chosen to help finance your education, they each require documentation that confirms you understand and agree to the terms and conditions of your loan. Reqruiments outlined by private lenders will vary. So be sure to contact your lender of choice directly to clarify their requirements and/or confirm they have received all necessary documentation. Instructions for completing the fedreal loan requirements are listed below.

Please understand that your loan funds will not disburse to the school until after all documentation has been completed!

Federal Entrance Counseling

All recipients of Stafford or PLUS loans are required by federal regulations to complete Entrance Counseling. You must complete the interview before Boston College will credit loan funds to your account. This online Entrance Counseling will provide you with information concerning your student loan, including your rights and responsibilities as a borrower, interest rates and other loan details, and who to contact if you have questions. Use your Federal Student Aid (FSA) ID to sign in to the website below to complete your inteview.

  1. Sign into the Direct Loan website using your FSA ID.
  2. Choose "Complete Loan Counseling (Entrance, Financial Awareness, Exit)".
  3. Click "START" nex to "Entrance Counseling (Required)".
  4. Select Boston College as your school and click "NOTIFY THIS SCHOOL".
  5. Indicate your student type (graduate).
  6. Follow the remaining prompts and instructions on each page.
  7. The system will display a "you have successfuly completed entrance Counseling" message and send you an e-mail when you have finished.

This process will take approximately 30–45 minutes and it is generally advisable to have your award letter and bill on hand for reference.

Signing Your Master Promissory Note

Recipients are also required to sign a Master Promissory Note (MPN) prior to the first disbursement of any Stafford or PLUS loans. Failure to sign the promissory note will result in cancelation of the loan. Please note that Stafford Loan MPNs are generally valid for up to 10 years and typically only need to be signed once. PLUS loans, however, must be signed for each year. To sign your MPN, please follow the instructions below.

  1. Sign into the Direct Loan website using your FSA ID.
  2. Choose "Complete Loan Agreement (Master Promissory Note)"
  3. Click "START" next to your loan program type. (Careful! Graduate students signing for their Graduate Unsubsidized Direct Stafford Loan still need to select "MPN for Subsidized/Unsubsidized Loans" here.)
  4. Follow the onscreen instructions and prompts on each page
  5. Enter your name and click "SIGN & SUBMIT"
  6. You will know you have finished when you reach the "Confirmation" screen and receive a confirmation e-mail

This process will take approximately 15 minutes and you will need several pieces of information:

Loan Repayment

As you finish your degree, it is important for you to begin planning for your loan repayment. The website is a great resource for some basic information on federal loan repayment. In fact. one of the benefits of federal loans is their many repayment options.