Beginning with the Financial Aid Year 2008 - 2009, some of the procedures for applying for a Direct Student Loan or for a PLUS (Parent) Loan will change. We expect these changes to benefit the student.
From this year and forward, a student borrower as well as a parent borrower will be able to:
1. Use the multi-year functionality of the Master Promissory Note.
- This means that you will only need to sign one promissory note for all the Federal Direct student loans that you take while a student at SD Mesa College.
- That you will bear a greater level of awareness, responsibility and accountability on your total cumulative loan level.
- The total cumulative amount that a student can borrow is $23,000. There is no PLUS loan cumulative limit.
2. You can complete and sign the electronic Master Promissory Note (eMPN) on- line at https://dlenote.ed.gov/empn/index.jsp
- The eMPN can be signed at any time. However, you will not have a student loan until you complete the on-line Entrance Counseling, stop by the Financial Aid Office, pick-up and complete the "Student Loan Request", and complete any other requirements. Additionally, the loan request must have been processed and accepted by the Department of Education.
- The process to complete an eMPN is easy and user friendly. You will have to complete 9 Steps. If, you stop the process before finishing all 9 steps, you will have to start from the beginning with Step 1.
3. Once you have completed all 9 steps and printed your MPN, the U.S. Department of Education will up-date their database and send an acknowledgement notification to our school.
- If you choose to request a paper MPN, the US Department of Education will print and send you a copy of your MPN which you will return to them via the U.S. Postal Service.
4. Provided that you meet all other conditions, time frames, loan eligibility requirements have been met and if needed, having your appeal petition approved by the Appeal's Committee, your loan funds will be disbursed as scheduled.